Wendy's 2008 Annual Report Download - page 56

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2007 2006 Amount Percent
2007 Change
(In Millions)
Revenues:
Sales............................................ $1,113.4 $1,073.3 $ 40.1 3.7%
Franchise revenues ............................... 87.0 82.0 5.0 6.1%
Asset management and related fees ................ 63.3 88.0 (24.7) (28.1%)
1,263.7 1,243.3 20.4 1.6%
Costs and expenses:
Cost of sales .................................... 894.5 857.2 37.3 4.4%
Cost of services .................................. 25.2 35.3 (10.1) (28.6%)
General and administrative ....................... 205.4 235.8 (30.4) (12.9%)
Depreciation and amortization .................... 66.2 60.6 5.6 9.2%
Impairment of other long-lived assets.............. 7.1 5.6 1.5 26.8%
Facilities relocation and corporate restructuring ..... 85.4 3.3 82.1 n/m
Gain on sale of consolidated business .............. (40.2) — (40.2) n/m
Other operating income, net ...................... 0.2 0.9 (0.7) (77.8)%
1,243.8 1,198.7 45.1 3.8%
Operating profit . . . ......................... 19.9 44.6 (24.7) (55.4%)
Interest expense ...................................... (61.3) (114.1) 52.8 46.3%
Loss on early extinguishments of debt.................. — (14.1) 14.1 100.0%
Investment income, net ............................... 62.1 84.3 (22.2) (26.3%)
Other than temporary losses on investments ............ (9.9) (4.1) (5.8) n/m
Other income (expense), net . . ......................... (1.4) 8.7 (10.1) n/m
Income from continuing operations before
income taxes and minority interests ........ 9.4 5.3 4.1 77.4%
Benefit from (provision for) income taxes ............... 8.4 (4.6) 13.0 n/m
Minority interests in income of consolidated subsidiaries . (2.7) (11.5) 8.8 76.5%
Income (loss) from continuing operations ............... 15.1 (10.8) 25.9 n/m
Income (loss) from discontinued operations, net
of income taxes: . ......................... 1.0 (0.1) 1.1 n/m
Net income (loss) .................................... $ 16.1 $ (10.9) $ 27.0 n/m
Restaurant Statistics: Fifteen Month Method Twelve Month Method
Arby’s same-store sales: 2007 2006 2007 2006
North America Company-owned restaurants ........ (1.3)% n/a (1.5)% 1.1%
North America Franchised restaurants ............. 1.1% n/a 0.9% 4.5%
North America Systemwide ....................... 0.3% n/a 0.1% 3.4%
Restaurant Margin: 2007 2006
Arby’s ............................................ 19.7% 20.1%
Restaurant Count: Company-owned Franchised Systemwide
Arby’s
Restaurant count at December 31, 2006 ........... 1,061 2,524 3,585
Opened in 2007 ................................. 51 97 148
Closed in 2007 .................................. (15) (30) (45)
Net purchased from (sold by) franchisees in 2007. . . 9 (9) —
Restaurant count at December 30, 2007 ........... 1,106 2,582 3,688
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