Fair Value Measurements (Tables)

9 Months Ended

Sep. 29, 2019

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments:

	September 29, 2019				December 30, 2018
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Fair Value Measurements
Financial assets
Cash equivalents	$	206,094	$	206,094	$	222,228	$	222,228	Level 1
Other investments in equity securities (a)	639		1,818		639		2,181		Level 3
Financial liabilities
Series 2019-1 Class A-2-I Notes (b)	399,000		405,863		—		—		Level 2
Series 2019-1 Class A-2-II Notes (b)	448,875		463,598		—		—		Level 2
Series 2018-1 Class A-2-I Notes (b)	442,125		448,580		445,500		424,026		Level 2
Series 2018-1 Class A-2-II Notes (b)	466,688		476,208		470,250		439,353		Level 2
Series 2015-1 Class A-2-II Notes (b)	—		—		870,750		865,342		Level 2
Series 2015-1 Class A-2-III Notes (b)	480,000		492,624		483,750		482,522		Level 2
7% debentures, due in 2025 (b)	91,722		107,500		90,769		102,750		Level 2
Guarantees of franchisee loan obligations (c)	2		2		17		17		Level 3

_______________

(a) The fair values of our investments are not significant and are based on our review of information provided by the investment managers or investees which was based on (1) valuations performed by the investment managers or investees, (2) quoted market or broker/dealer prices for similar investments and (3) quoted market or broker/dealer prices adjusted by the investment managers for legal or contractual restrictions, risk of nonperformance or lack of marketability, depending upon the underlying investments.

(b) The fair values were based on quoted market prices in markets that are not considered active markets.

(c)

Wendy’s has provided loan guarantees to various lenders on behalf of franchisees entering into debt arrangements for equipment financing. We have accrued a liability for the fair value of these guarantees, the calculation of which was based upon a weighted average risk percentage.

Fair value of assets and liabilities (other than cash and cash equivalents) measured at fair value on a nonrecurring basis

			Fair Value Measurements
	September 29, 2019		Level 1		Level 2		Level 3
Held and used	$	1,866	$	—	$	—	$	1,866
Held for sale	988		—		—		988
Total	$	2,854	$	—	$	—	$	2,854

			Fair Value Measurements
	December 30, 2018		Level 1		Level 2		Level 3
Held and used	$	462	$	—	$	—	$	462
Held for sale	1,031		—		—		1,031
Total	$	1,493	$	—	$	—	$	1,493