Wendy's 2008 Annual Report Download - page 129
Download and view the complete annual report
Please find page 129 of the 2008 Wendy's annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119 -
120 -
121 -
122 -
123 -
124 -
125 -
126 -
127 -
128 -
129 -
130 -
131 -
132 -
133 -
134 -
135 -
136 -
137 -
138 -
139 -
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
 |
 |
The goodwill disposed of in the Deerfield Sale represents the total goodwill recorded in 2004 when
Deerfield was purchased and is included in the “Gain on sale of consolidated business” in the accompanying
Consolidated Statement of Operations for the year ended December 30, 2007 (see Note 3).
The following is a summary of the components of other intangible assets:
Cost
Accumulated
Amortization Net Cost
Accumulated
Amortization Net
Year-End 2008 Year-End 2007
Non-amortizable
Wendy’s trademarks. . . . . . . . . . . . . . . . . ............................. $ 900,389 $ — $ 900,389 $ — $ — $ —
Amortizable
Franchise agreements . . . . . . . . . . . . . . . . ............................. 350,033 4,152 345,881 — — —
Favorable leases . . ................................................ 147,881 9,650 138,231 27,231 5,530 21,701
Reacquired rights under franchise agreements. . . . . . . . . . . . . .......... 19,009 3,142 15,867 18,574 2,238 16,336
Computer software . . . . . . . . . . . . . . . . . . ............................. 18,259 7,154 11,105 11,531 4,279 7,252
Other. . . . . . . . . . . ................................................ — — — 109 80 29
$1,435,571 $24,098 $1,411,473 $57,445 $12,127 $45,318
Other intangible assets, related to the restaurant operations other than favorable leases, with an aggregate
net book value of $22,299 as of December 28, 2008 are pledged as collateral under the Company’s credit
agreement (See Note 10).
Aggregate amortization expense:
Actual for fiscal year (a): Total
2006 (b) ............................................................................ $12,222
2007 (b) ............................................................................ 13,509
2008 ................................................................................ 13,470
Estimate for fiscal year:
2009 ................................................................................ 31,333
2010 ................................................................................ 28,914
2011 ................................................................................ 27,320
2012 ................................................................................ 26,364
2013 ................................................................................ 25,624
Thereafter ........................................................................... 371,529
(a) Includes $1,096, $5,329 and $3,121 of impairment charges related to other intangible assets in 2008,
2007 and 2006, respectively (see Note 18) which have been recorded as a reduction in the cost basis of the
related intangible asset.
(b) Includes $3,466 and $2,375 of amortization of asset management contracts until their disposal with the
Deerfield Sale.
121
Wendy’s/Arby’s Group, Inc. and Subsidiaries
(Formerly Triarc Companies, Inc.)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—CONTINUED
(In Thousands Except Per Share Amounts)