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Revenue (Tables)

12 Months Ended

Dec. 29, 2019

The following tables disaggregate revenue by segment and source for 2019, 2018 and 2017:



	2019
	Wendy’s U.S.		Wendy’s International		Global Real Estate & Development		Total
Sales at Company-operated restaurants	$	707,485	$	—	$	—	$	707,485
Franchise royalty revenue	355,702		44,998		—		400,700
Franchise fees	21,889		2,978		3,432		28,299
Franchise rental income	—		—		233,065		233,065
Advertising funds revenue	319,231		20,222		—		339,453
Total revenues	$	1,404,307	$	68,198	$	236,497	$	1,709,002



	2018
	Wendy’s U.S.		Wendy’s International		Global Real Estate & Development		Total
Sales at Company-operated restaurants	$	651,577	$	—	$	—	$	651,577
Franchise royalty revenue	335,500		42,446		—		377,946
Franchise fees	18,972		5,607		6,518		31,097
Franchise rental income	—		—		203,297		203,297
Advertising funds revenue	306,442		19,577		—		326,019
Total revenues	$	1,312,491	$	67,630	$	209,815	$	1,589,936



	2017
	Wendy’s U.S.		Wendy’s International		Global Real Estate & Development		Total
Sales at Company-operated restaurants	$	622,802	$	—	$	—	$	622,802
Franchise royalty revenue	326,846		39,126		—		365,972
Franchise fees	37,090		4,570		2,871		44,531
Franchise rental income	—		—		190,103		190,103
Total revenues	$	986,738	$	43,696	$	192,974	$	1,223,408

Contract balances, assets and liabilities

The following table provides information about receivables and contract liabilities (deferred franchise fees) from contracts with customers:



	December 29, 2019 (a)		December 30, 2018 (a)
Receivables, which are included in “Accounts and notes receivable, net” (b)	$	39,188	$	40,300
Receivables, which are included in “Advertising funds restricted assets”	54,394		47,332
Deferred franchise fees (c)	100,689		102,205

_______________


(a)	Excludes funds collected from the sale of gift cards, which are primarily reimbursed to franchisees upon redemption at franchised restaurants and do not ultimately result in the recognition of revenue in the Company’s consolidated statements of operations.


(b)	Includes receivables related to “Sales” and “Franchise royalty revenue and fees.”

(c)

Deferred franchise fees are included in “Accrued expenses and other current liabilities” and “Deferred franchise fees” and totaled $8,899 and $91,790 as of December 29, 2019, respectively, and $9,973 and $92,232 as of December 30, 2018, respectively.

Deferred franchise fee rollforward

Significant changes in deferred franchise fees are as follows:



	2019			2018
Deferred franchise fees at beginning of period	$	102,205		$	102,492
Revenue recognized during the period	(9,487		)	(9,641		)
New deferrals due to cash received and other	7,971			9,354
Deferred franchise fees at end of period	$	100,689		$	102,205

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

The following table reflects the estimated franchise fees to be recognized in the future related to performance obligations that are unsatisfied at the end of the period:



Estimate for fiscal year:
2020	$	8,899
2021	6,147
2022	5,898
2023	5,721
2024	5,518
Thereafter	68,506
	$	100,689