Wendy's 2011 Annual Report Download - page 92
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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)
(Wendy’s Restaurants)
Year End
2011 2010
Accounts and Notes Receivable
Current
Accounts receivable:
Franchisees ............................................... $57,965 $73,214
Other ................................................... 12,102 15,131
70,067 88,345
Notes receivable:
Franchisees ............................................... 1,439 2,328
71,506 90,673
Allowance for doubtful accounts ................................... (4,053) (7,321)
$67,453 $83,352
Non-Current (a)
Notes receivable:
Franchisees royalties ........................................ $ 9,744 $11,932
Other (b) ................................................ 3,649 4,458
13,393 16,390
Allowance for doubtful accounts ................................... (963) (3,778)
$12,430 $12,612
(a) Included in “Deferred costs and other assets.”
(b) Includes a franchise incentive loan of $1,378 to facilitate the purchase and related installation of equipment
required to implement a systemwide core menu initiative.
The following is an analysis of the allowance for doubtful accounts:
The Wendy’s Company
2011 2010 2009
Balance at beginning of year:
Current ............................................ $7,321 $ 6,540 $ 887
Non-current ........................................ 3,778 22,566 21,804
Provision for doubtful accounts:
Franchisees ......................................... 264 9,694 8,342
DFR Notes (see Note 4) ............................... — (21,227) —
Other ............................................. — — (173)
Arby’s allowance transferred in sale ........................... (5,504) — —
Uncollectible accounts written off, net of recoveries .............. (843) (6,474) (1,754)
Balance at end of year:
Current ............................................ 4,053 7,321 6,540
Non-current ........................................ 963 3,778 22,566
Total .............................................. $5,016 $ 11,099 $29,106
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