XML 25 R14.htm IDEA: XBRL DOCUMENT v3.19.1
Investments
3 Months Ended
Mar. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]  
Investments
Investments

Equity Investments

Wendy’s has a 50% share in a partnership in a Canadian restaurant real estate joint venture (“TimWen”) with a subsidiary of Restaurant Brands International Inc., a quick-service restaurant company that owns the Tim Hortons® brand. (Tim Hortons is a registered trademark of Tim Hortons USA Inc.) In addition, a wholly-owned subsidiary of Wendy’s has a 20% share in a joint venture for the operation of Wendy’s restaurants in Brazil (the “Brazil JV”). The Company has significant influence over these investees. Such investments are accounted for using the equity method of accounting, under which our results of operations include our share of the income (loss) of the investees in “Other operating income, net.”

Presented below is activity related to our investment in TimWen and the Brazil JV included in our condensed consolidated financial statements:
 
Three Months Ended
 
March 31,
2019
 
April 1,
2018
Balance at beginning of period
$
47,021

 
$
55,363

 
 
 
 
Investment

 
12

 
 
 
 
Equity in earnings for the period
2,397

 
2,420

Amortization of purchase price adjustments (a)
(566
)
 
(596
)
 
1,831

 
1,824

Distributions received
(2,246
)
 
(2,907
)
Foreign currency translation adjustment included in “Other comprehensive income (loss), net” and other
1,166

 
(1,262
)
Balance at end of period
$
47,772

 
$
53,030

_______________

(a)
Purchase price adjustments that impacted the carrying value of the Company’s investment in TimWen are being amortized over the average original aggregate life of 21 years.