Wendy's 2013 Annual Report Download - page 85

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THE WENDY’S COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—CONTINUED
(In Thousands Except Per Share Amounts)
(5) Cash and Receivables
Year End
2013 2012
Cash and cash equivalents
Cash ...................................................... $174,278 $188,436
Cash equivalents ............................................. 405,874 264,925
$580,152 $453,361
Restricted cash equivalents
Current (a)
Collateral supporting letters of credit ............................. $ 18,593 $ —
Trust for termination costs for former Wendy’s executives ............. 168 168
Other ..................................................... 155 152
$ 18,916 $ 320
Non-current (b)
Trust for termination costs for former Wendy’s executives ............. $ 2,969 $ 3,295
(a) Included in “Prepaid expenses and other current assets.”
(b) Included in “Deferred costs and other assets.”
Year End
2013 2012
Accounts and Notes Receivable
Current
Accounts receivable:
Franchisees ............................................. $54,628 $56,494
Other ................................................. 10,952 8,638
65,580 65,132
Notes receivables from franchisees (a) ............................. 864 2,353
66,444 67,485
Allowance for doubtful accounts ................................. (3,559) (6,321)
$62,885 $61,164
Non-Current (b)
Notes receivables from franchisees (a)(c) ........................... $ 5,568 $10,227
Allowance for doubtful accounts ................................. (275) (2,881)
$ 5,293 $ 7,346
(a) Includes $1,687 and $1,857 of loans to franchisees for the purchase of equipment utilized in the breakfast
program which were included in current and non-current notes receivable, respectively, as of December 30,
2012. The Company had provided a full allowance for doubtful accounts on the amounts owed as of
December 30, 2012 (see Note 2 for further information). During 2013, Wendy’s canceled and forgave the
principal balance of the loans outstanding.
(b) Included in “Deferred costs and other assets.”
(c) Includes loans totaling $2,997 to a franchisee in connection with the termination of our investment in a joint
venture in Japan, which is included in non-current notes receivable as of December 29, 2013 (see Note 6 for
further information). The loan is guaranteed by the franchisee’s owners, bears interest at 2.0% and matures in
December 2018.
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