Segment Information (Notes)

3 Months Ended

Apr. 04, 2021

Segment Reporting [Abstract]

Segment Information

Segment Information

Revenues by segment were as follows:

	Three Months Ended
	April 4, 2021		March 29, 2020
Wendy’s U.S.	$	381,954	$	331,041
Wendy’s International	18,250		15,472
Global Real Estate & Development	59,999		58,447
Total revenues	$	460,203	$	404,960

The following table reconciles profit by segment to the Company’s consolidated income before income taxes:

	Three Months Ended
	April 4, 2021		March 29, 2020
Wendy’s U.S. (a)	$	112,087	$	81,828
Wendy’s International	7,684		5,095
Global Real Estate & Development	26,253		26,490
Total segment profit	$	146,024	$	113,413
Advertising funds deficit	(1,264)		(1,387)
Unallocated general and administrative (b)	(25,107)		(24,119)
Depreciation and amortization	(31,542)		(31,046)
System optimization gains, net	516		323
Reorganization and realignment costs	(4,934)		(3,910)
Impairment of long-lived assets	(635)		(4,587)
Unallocated other operating income, net	64		45
Interest expense, net	(28,786)		(28,525)
Other income, net	129		1,076
Income before income taxes	$	54,465	$	21,283

_______________

(a)For the three months ended April 4, 2021, includes advertising funds expense of $3,534 related to the expected Company funding of incremental advertising during 2021.

(b)Includes corporate overhead costs, such as employee compensation and related benefits.