Wendy's 2013 Annual Report Download - page 91
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THE WENDY’S COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—CONTINUED
(In Thousands Except Per Share Amounts)
Aggregate amortization expense:
Actual for fiscal year (a):
2011 .................................................... $ 33,181
2012 .................................................... 32,713
2013 .................................................... 55,516
Estimate for fiscal year:
2014 .................................................... $ 37,116
2015 .................................................... 33,257
2016 .................................................... 31,102
2017 .................................................... 29,815
2018 .................................................... 28,231
Thereafter ................................................ 243,259
(a) Includes $792, $1,757, and $2,763 of impairment charges related to other intangible assets in 2013, 2012 and
2011, respectively. Also, 2013 includes $1,678 of System Optimization Remeasurement and $16,907 of
accelerated amortization on previously acquired franchise rights in territories expected to be sold as a part of our
system optimization initiative.
(9) Accrued Expenses and Other Current Liabilities
Year End
2013 2012
Accrued compensation and related benefits .......................... $ 68,394 $ 67,862
Accrued taxes ................................................ 21,791 28,593
Accrued interest .............................................. 4,611 6,211
Accrued pension (a) ........................................... 13,513 —
Other ...................................................... 51,791 34,682
$ 160,100 $ 137,348
(a) 2013 includes a $13,500 charge resulting from The New Bakery Co. of Ohio, Inc.’s withdrawal from a
multiemployer pension plan in the fourth quarter. See Note 18 for more information.
(10) Long-Term Debt
Long-term debt consisted of the following:
Year End
2013 2012
Term A Loans, due in 2018 (a) ................................... $ 570,625 $ —
Term B Loans, due in 2019 (a) ................................... 767,452 1,114,826
6.20% Senior Notes, repaid in October 2013 (a) ..................... — 225,940
7% debentures, due in 2025 (b) .................................. 84,666 83,496
Capital lease obligations, due through 2042 ......................... 40,732 32,594
Other ...................................................... 353 706
1,463,828 1,457,562
Less amounts payable within one year .............................. (38,543) (12,911)
Total long-term debt ...................................... $1,425,285 $1,444,651
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