Schedule of Quarterly Financial Information (Unaudited) [Table Text Block] |
The tables below set forth summary unaudited consolidated quarterly financial information for 2015 and 2014. The Company reports on a fiscal year typically consisting of 52 or 53 weeks ending on the Sunday closest to December 31. During 2015, the Company’s first, second and third fiscal quarters contained 13 weeks and the Company’s fourth quarter contained 14 weeks. All of the Company’s fiscal quarters in 2014 contained 13 weeks. As discussed in Note 2, on May 31, 2015, Wendy’s completed the sale of 100% of its membership interest in the Bakery. Bakery results for all periods presented through its May 31, 2015 date of sale are classified as discontinued operations. In addition, certain reclassifications have been made to prior year presentation to conform to the current year presentation related to the Company’s system optimization initiative. See Note 1 for further details. | | | | | | | | | | | | | | | | | | 2015 Quarter Ended | | March 29 (a) | | June 28 (a) | | September 27 (a) | | January 3 (a) | Revenues | $ | 451,769 |
| | $ | 489,534 |
| | $ | 464,629 |
| | $ | 464,365 |
| Cost of sales | 305,111 |
| | 315,122 |
| | 291,524 |
| | 272,316 |
| Operating profit | 37,911 |
| | 64,308 |
| | 55,939 |
| | 116,312 |
| Income from continuing operations | 18,150 |
| | 24,825 |
| | 8,323 |
| | 88,681 |
| Net income (loss) from discontinued operations | 9,357 |
| | 15,370 |
| | (739 | ) | | (2,825 | ) | Net income | $ | 27,507 |
| | $ | 40,195 |
| | $ | 7,584 |
| | $ | 85,856 |
| Basic income (loss) per share: | | | | | | | | Continuing operations | $ | .05 |
| | $ | .07 |
| | $ | .03 |
| | $ | .32 |
| Discontinued operations | .03 |
| | .04 |
| | — |
| | (.01 | ) | Net income | $ | .08 |
| | $ | .11 |
| | $ | .03 |
| | $ | .31 |
| Diluted income (loss) per share: | | | | | | | | Continuing operations | $ | .05 |
| | $ | .07 |
| | $ | .03 |
| | $ | .32 |
| Discontinued operations | .03 |
| | .04 |
| | — |
| | (.01 | ) | Net income | $ | .07 |
| | $ | .11 |
| | $ | .03 |
| | $ | .31 |
|
| | | | | | | | | | | | | | | | | | 2014 Quarter Ended | | March 30 (b) | | June 29 | | September 28 (b) | | December 28 (b) | Revenues | $ | 508,450 |
| | $ | 506,079 |
| | $ | 496,670 |
| | $ | 487,303 |
| Cost of sales | 363,365 |
| | 335,141 |
| | 332,645 |
| | 323,935 |
| Operating profit | 87,274 |
| | 61,169 |
| | 44,244 |
| | 49,901 |
| Income from continuing operations | 45,009 |
| | 27,327 |
| | 21,133 |
| | 22,955 |
| Net income from discontinued operations | 1,294 |
| | 1,680 |
| | 1,697 |
| | 339 |
| Net income | $ | 46,303 |
| | $ | 29,007 |
| | $ | 22,830 |
| | $ | 23,294 |
| Basic income per share: | | | | | | | | Continuing operations | $ | .12 |
| | $ | .07 |
| | $ | .06 |
| | $ | .06 |
| Discontinued operations | — |
| | — |
| | — |
| | — |
| Net income | $ | .12 |
| | $ | .08 |
| | $ | .06 |
| | $ | .06 |
| Diluted income per share: | | | | | | | | Continuing operations | $ | .12 |
| | $ | .07 |
| | $ | .06 |
| | $ | .06 |
| Discontinued operations | — |
| | — |
| | — |
| | — |
| Net income | $ | .12 |
| | $ | .08 |
| | $ | .06 |
| | $ | .06 |
|
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| | (a) | The Company’s consolidated statements of operations were materially impacted by system optimization gains, net, reorganization and realignment costs, impairment of long-lived assets and loss on early extinguishment of debt. The pre-tax impact of system optimization gains, net for the second and fourth quarters of 2015 was $15,654 and $59,258, respectively (see Note 3 for additional information). The pre-tax impact of reorganization and realignment costs for the first, second, third and fourth quarters of 2015 was $4,613, $6,279, $5,754 and $5,264, respectively (see Note 5 for additional information). The pre-tax impact of impairment of long-lived assets during the second and fourth quarters of 2015 was $10,018 and $11,533, respectively (see Note 17 for additional information). The pre-tax impact of loss on early extinguishment of debt during the second quarter of 2015 was $7,295 (see Note 12 for additional information). Additionally, the Company’s consolidated statements of operations were materially affected during the fourth quarter of 2015 by a $54,911 dividend from our investment in Arby’s, which was recognized in investment income, net (see Note 18 for additional information). |
| | (b) | The Company’s consolidated statements of operations were materially impacted by system optimization gains, net, reorganization and realignment costs and impairment of long-lived assets. The pre-tax impact of system optimization gains, net for the first and fourth quarters of 2014 was $72,977 and $17,483, respectively (see Note 3 for additional information). The pre-tax impact of reorganization and realignment costs for the first and fourth quarters of 2014 was $14,711 and $14,527, respectively (see Note 5 for additional information). The pre-tax impact of impairment of long-lived assets during the third and fourth quarters of 2014 was $8,618 and $8,389, respectively (see Note 17 for additional information). |
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