Wendy's 2011 Annual Report Download - page 133

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THE WENDY’S COMPANY AND SUBSIDIARIES
WENDY’S RESTAURANTS, LLC AND SUBSIDIARIES
COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—CONTINUED
(In Thousands Except Per Share Amounts)
CONDENSED CONSOLIDATING BALANCE SHEET
January 2, 2011
Parent
Guarantor
Subsidiaries
Non-guarantor
Subsidiaries Eliminations Total
ASSETS
Current assets:
Cash and cash equivalents ............. $ 79,355 $ 53,810 $ 65,521 $ — $ 198,686
Accounts and notes receivable .......... 320 61,508 21,524 — 83,352
Inventories ......................... — 12,522 10,172 — 22,694
Prepaid expenses and other current
assets ........................... 3,900 12,434 7,698 — 24,032
Deferred income tax benefit ............ 17,634 20,926 6,507 — 45,067
Advertising funds restricted assets ........ — — 76,553 — 76,553
Total current assets ............... 101,209 161,200 187,975 — 450,384
Properties .............................. 13,748 1,084,546 443,559 — 1,541,853
Goodwill .............................. — 823,539 65,382 — 888,921
Other intangible assets .................... 21,453 1,285,615 51,506 — 1,358,574
Investments ............................ — — 102,406 — 102,406
Deferred costs and other assets .............. 32,610 32,384 9,565 — 74,559
Net investment in subsidiaries .............. 2,559,526 381,828 — (2,941,354) —
Deferred income tax benefit ................ 86,423 — — (86,423) —
Due from affiliate ........................ 59,618 — — (59,618) —
Total assets ..................... $2,874,587 $3,769,112 $ 860,393 $(3,087,395) $4,416,697
LIABILITIES AND INVESTED EQUITY
Current liabilities:
Current portion of long-term debt ....... $ 5,228 $ 687 $ 11,132 $ — $ 17,047
Accounts payable .................... 4,624 52,242 24,282 — 81,148
Accrued expenses and other current
liabilities ......................... 38,871 128,089 77,340 — 244,300
Advertising funds restricted liabilities ..... — — 76,553 — 76,553
Total current liabilities ............ 48,723 181,018 189,307 — 419,048
Long-term debt ......................... 1,043,623 310,339 188,722 — 1,542,684
Due to affiliates ......................... — 60,653 29,773 (59,618) 30,808
Deferred income ........................ — 6,291 5,169 — 11,460
Deferred income taxes .................... — 541,800 23,095 (86,423) 478,472
Other liabilities ......................... 5,611 86,993 64,991 — 157,595
Invested equity:
Member interest, $0.01 par value; 1,000
shares authorized, one share issued and
outstanding ...................... — — — — —
Other capital ....................... 2,423,459 3,244,488 1,077,762 (4,322,250) 2,423,459
Accumulated deficit .................. (499,500) (515,141) (726,097) 1,241,238 (499,500)
Advances to The Wendy’s Company ..... (155,000) (155,000) — 155,000 (155,000)
Accumulated other comprehensive
income .......................... 7,671 7,671 7,671 (15,342) 7,671
Total invested equity ..................... 1,776,630 2,582,018 359,336 (2,941,354) 1,776,630
Total liabilities and invested equity .......... $2,874,587 $3,769,112 $ 860,393 $(3,087,395) $4,416,697
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