Fair Value Measurements (Tables)

12 Months Ended

Dec. 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:

	December 29, 2019				December 30, 2018
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Fair Value Measurements
Financial assets
Cash equivalents	$	114,992	$	114,992	$	222,228	$	222,228	Level 1
Other investments in equity securities (a)	639		1,649		639		2,181		Level 3
Financial liabilities
Series 2019-1 Class A-2-I Notes (b)	398,000		405,152		—		—		Level 2
Series 2019-1 Class A-2-II Notes (b)	447,750		459,136		—		—		Level 2
Series 2018-1 Class A-2-I Notes (b)	441,000		444,859		445,500		424,026		Level 2
Series 2018-1 Class A-2-II Notes (b)	465,500		475,718		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)	478,750		490,531		483,750		482,522		Level 2
7% debentures, due in 2025 (b)	82,837		94,838		90,769		102,750		Level 2
Guarantees of franchisee loan obligations (c)	1		1		17		17		Level 3

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(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) measure at fair value on a nonrecurring basis

			Fair Value Measurements						2019 Total Losses
	December 29, 2019		Level 1		Level 2		Level 3
Held and used	$	3,582	$	—	$	—	$	3,582	$	5,602
Held for sale	988		—		—		988		1,397
Total	$	4,570	$	—	$	—	$	4,570	$	6,999

    

			Fair Value Measurements						2018 Total Losses
	December 30, 2018		Level 1		Level 2		Level 3
Held and used	$	462	$	—	$	—	$	462	$	4,343
Held for sale	1,031		—		—		1,031		354
Total	$	1,493	$	—	$	—	$	1,493	$	4,697