Investments

9 Months Ended

Oct. 02, 2022

The following is a summary of the carrying value of our investments:


	October 2, 2022		January 2, 2022
Equity method investments	$	33,375	$	39,870
Other investments in equity securities	12,107		10,000
	$	45,482	$	49,870

Equity Method Investments

Wendy’s has a 50% share in a partnership in a Canadian restaurant real estate joint venture (“TimWen”) with a subsidiary of Restaurant Brands International Inc., a quick-service restaurant company that owns the Tim Hortons® brand (Tim Hortons is a registered trademark of Tim Hortons USA Inc.). In addition, the Company has a 20% share in a joint venture in Brazil (the “Brazil JV”). The Company has significant influence over these investees. Such investments are accounted for using the equity method, under which our results of operations include our share of the income (loss) of the investees in “Other operating income, net.”

Presented below is activity related to our investment in TimWen and the Brazil JV included in our condensed consolidated financial statements:


	Nine Months Ended
	October 2, 2022		October 3, 2021
Balance at beginning of period	$	39,870	$	44,574

Equity in earnings for the period	9,091		8,005
Amortization of purchase price adjustments (a)	(2,163)		(2,392)
	6,928		5,613
Distributions received	(10,396)		(9,174)
Foreign currency translation adjustment included in “Other comprehensive (loss) income” and other	(3,027)		343
Balance at end of period	$	33,375	$	41,356

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(a)Purchase price adjustments that impacted the carrying value of the Company’s investment in TimWen are being amortized over the average original aggregate life of 21 years.

Other Investments in Equity Securities

During 2021, the Company made an investment in equity securities of $10,000. During the nine months ended October 2, 2022, the Company recognized a gain of $2,107 as a result of an observable price change for a similar investment of the same issuer.