Wendy's 2011 Annual Report Download - page 90

Download and view the complete annual report

Please find page 90 of the 2011 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.

Page out of 168

  • 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

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)
The carrying amount of the DFR Notes in June 2010 was $24,983 and as a result, The Wendy’s Company
recognized income of $4,909 as the repayment proceeds exceeded the carrying value. This gain is included in
“Investment income (expense), net” for the year ended January 2, 2011.
(5) Income (Loss) Per Share
(The Wendy’s Company)
Basic income (loss) per share for 2011, 2010 and 2009 was computed by dividing net income (loss) by the
weighted average number of common shares outstanding. The weighted average number of shares used to calculate
basic and diluted income (loss) per share was as follows:
2011 2010 2009
Common stock:
Weighted average basic shares outstanding ................. 405,224 426,247 466,204
Dilutive effect of stock options and restricted shares .......... 1,956 948 483
Weighted average diluted shares outstanding ................ 407,180 427,195 466,687
Diluted income per share was computed by dividing income by the weighted average number of basic shares
outstanding plus the potential common share effect of dilutive stock options and restricted shares, computed using the
treasury stock method. For 2011, 2010 and 2009, we excluded 19,294, 24,088 and 17,194, respectively, of potential
common shares from our diluted income per share calculation as they would have had anti-dilutive effects.
(6) Cash and Receivables
(The Wendy’s Company)
Year End
2011 2010
Cash and cash equivalents
Cash ...................................................... $471,110 $508,364
Cash equivalents ............................................. 4,121 4,144
$475,231 $512,508
Restricted cash equivalents
Current (a)
Trust for termination costs for former Wendy’s executives ............. $ 190 $ 919
Other ..................................................... 149 149
$ 339 $ 1,068
Non-current (b) .............................................
Trust for termination costs for former Wendy’s executives ............. $ 3,372 $ 3,562
Collateral supporting letters of credit securing payments due under
leases .................................................... 686 685
$ 4,058 $ 4,247
86