Segment Information (Tables)

6 Months Ended

Jul. 04, 2021

Reconciliation of Revenue from Segments to Consolidated

Revenues by segment were as follows:


	Three Months Ended				Six Months Ended
	July 4, 2021		June 28, 2020		July 4, 2021		June 28, 2020
Wendy’s U.S.	$	409,843	$	331,258	$	791,797	$	662,299
Wendy’s International	21,316		14,003		39,566		29,475
Global Real Estate & Development	62,178		57,045		122,177		115,492
Total revenues	$	493,337	$	402,306	$	953,540	$	807,266

Reconciliation of Profit from Segments to Consolidated

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


	Three Months Ended				Six Months Ended
	July 4, 2021		June 28, 2020		July 4, 2021		June 28, 2020
Wendy’s U.S. (a)	$	126,650	$	93,136	$	238,737	$	174,964
Wendy’s International	6,528		3,594		14,212		8,689
Global Real Estate & Development	26,569		23,711		52,822		50,201
Total segment profit	$	159,747	$	120,441	$	305,771	$	233,854
Advertising funds deficit	(1,602)		(1,020)		(2,866)		(2,407)
Unallocated general and administrative (b)	(28,864)		(23,051)		(53,971)		(47,170)
Depreciation and amortization	(30,761)		(34,714)		(62,303)		(65,760)
System optimization gains, net	30,766		1,987		31,282		2,310
Reorganization and realignment costs	(2,102)		(2,911)		(7,036)		(6,821)
Impairment of long-lived assets	(630)		(117)		(1,265)		(4,704)
Unallocated other operating income, net	192		46		256		91
Interest expense, net	(28,204)		(29,085)		(56,990)		(57,610)
Loss on early extinguishment of debt	(17,917)		—		(17,917)		—
Other income (expense), net	161		(144)		290		932
Income before income taxes	$	80,786	$	31,432	$	135,251	$	52,715

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(a)Includes advertising funds expense of $3,990 and $7,524 for the three and six months ended July 4, 2021, respectively, and $2,185 for the three and six months ended June 28, 2020 related to the Company funding of incremental advertising.

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