Wendy's 2008 Annual Report Download - page 91

Item 8. Financial Statements and Supplementary Data
Wendy’s/Arby’s Group, Inc. and Subsidiaries
(Formerly Triarc Companies, Inc.)
CONSOLIDATED BALANCE SHEETS
(In Thousands)
December 28,
2008
December 30,
2007
Assets
Current assets:
Cash and cash equivalents............................................ $ 90,090 $ 78,116
Restricted cash equivalents ........................................... 20,792 —
Accounts and notes receivable ........................................ 97,258 27,610
Inventories ......................................................... 24,646 11,067
Prepaid expenses and other current assets.............................. 28,990 28,540
Deferred income tax benefit .......................................... 37,923 24,921
Advertising fund restricted assets ..................................... 81,139 —
Total current assets ............................................. 380,838 170,254
Restricted cash equivalents ............................................... 34,032 45,295
Notes receivable ......................................................... 34,608 46,429
Investments ............................................................. 133,052 141,909
Properties ............................................................... 1,770,372 504,874
Goodwill ............................................................... 853,775 468,778
Other intangible assets ................................................... 1,411,473 45,318
Deferred costs and other assets ............................................ 27,470 27,660
Deferred income tax benefit .............................................. — 4,050
Total assets .................................................... $4,645,620 $1,454,567
Liabilities and Stockholders’ Equity
Current liabilities:
Current portion of long-term debt .................................... $ 30,426 $ 27,802
Accounts payable. ................................................... 139,340 54,297
Accrued expenses and other current liabilities. ......................... 247,334 117,785
Advertising fund restricted liabilities ................................. 81,139 —
Liabilities related to discontinued operations . . ......................... 4,250 7,279
Total current liabilities ......................................... 502,489 207,163
Long-term debt ......................................................... 1,081,151 711,531
Deferred income ......................................................... 16,859 10,861
Deferred income taxes.................................................... 475,243 —
Other liabilities ......................................................... 186,587 76,138
Commitments and contingencies
Stockholders’ equity:
Class A common stock, $.10 par value; shares authorized: 1,500,000;
shares issued: 470,424 and 29,551 (a) .............................. 47,042 2,955
Class B common stock, $.10 par value; shares authorized: none and
150,000; shares issued: none and 64,025 (a)......................... — 6,402
Additional paid-in capital............................................ 2,752,987 291,122
Retained (deficit) earnings ........................................... (357,541) 167,267
Common stock held in treasury ...................................... (15,944) (16,774)
Accumulated other comprehensive loss ................................ (43,253) (2,098)
Total stockholders’ equity ....................................... 2,383,291 448,874
Total liabilities and stockholders’ equity . ......................... $4,645,620 $1,454,567
See accompanying notes to consolidated financial statements.
(a) In connection with the September 29, 2008 merger with Wendy’s International, Inc. (Wendy’s), Wendy’s/
Arby’s Group, Inc. stockholders approved a charter amendment to convert each of the then outstanding
shares of Triarc Companies, Inc. Class B common stock into one share of Wendy’s/Arby’s Group, Inc.
Class A common stock.
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