Wendy's 2013 Annual Report Download - page 66

Download and view the complete annual report

Please find page 66 of the 2013 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 156

  • 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

THE WENDY’S COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In Thousands Except Per Share Amounts)
Year Ended
December 29,
2013
December 30,
2012
January 1,
2012
Revenues:
Sales .................................................. $2,165,829 $2,198,323 $2,126,544
Franchise revenues ....................................... 321,581 306,919 304,814
2,487,410 2,505,242 2,431,358
Costs and expenses:
Cost of sales ............................................ 1,839,740 1,881,248 1,816,109
General and administrative ................................. 293,792 287,808 292,390
Depreciation and amortization .............................. 182,359 146,976 122,992
Facilities action charges, net ................................ 10,856 41,031 45,711
Impairment of long-lived assets .............................. 15,879 21,097 12,883
Impairment of goodwill ................................... 9,397 — —
Other operating expense, net ............................... 245 4,335 4,152
2,352,268 2,382,495 2,294,237
Operating profit ................................. 135,142 122,747 137,121
Interest expense ............................................. (69,012) (98,604) (114,110)
Loss on early extinguishment of debt ............................. (28,563) (75,076) —
Investment income, net ....................................... 23,565 36,243 484
Other (expense) income, net .................................... (2,080) 1,565 945
Income (loss) from continuing operations before income taxes
and noncontrolling interests .......................... 59,052 (13,125) 24,440
(Provision for) benefit from income taxes .......................... (14,154) 21,083 (6,528)
Income from continuing operations ...................... 44,898 7,958 17,912
Discontinued operations:
(Loss) income from discontinued operations, net of income taxes .... (266) 1,951 762
Loss on disposal of discontinued operations, net of income taxes .... — (442) (8,799)
Net (loss) income from discontinued operations ............. (266) 1,509 (8,037)
Net income ..................................... 44,632 9,467 9,875
Net loss (income) attributable to noncontrolling
interests ..................................... 855 (2,384) —
Net income attributable to The Wendy’s
Company ................................ $ 45,487 $ 7,083 $ 9,875
Basic income (loss) per share attributable to The Wendy’s Company:
Continuing operations .................................... $ .12 $ .02 $ .04
Discontinued operations ................................... — — (.02)
Net income ............................................. $ .12 $ .02 $ .02
Diluted income (loss) per share attributable to The Wendy’s Company:
Continuing operations .................................... $ .11 $ .02 $ .04
Discontinued operations ................................... — — (.02)
Net income ............................................. $ .11 $ .02 $ .02
See accompanying notes to consolidated financial statements.
62