Wendy's 2008 Annual Report Download - page 176

2006
Arby’s
Restaurants
Asset
Management Corporate Total
Revenues:
Sales ............................................ $1,073,271 $ — $ — $1,073,271
Franchise revenues................................ 82,001 — — 82,001
Asset management revenues ....................... — 88,006 — 88,006
1,155,272 88,006 — 1,243,278
Depreciation and amortization ....................... 50,539 5,792 4,342 60,673
Operating (loss) profit .......................... 95,345 15,832 (66,550) 44,627
Interest expense .................................... (114,088)
Loss on early extinguishments of debt ................ (14,082)
Investment income, net ............................. 84,318
Other than temporary losses on investments. . ......... (4,120)
Other income, net .................................. 8,677
Income from continuing operations before income
taxes and minority interests................... 5,332
Provision for income taxes........................... (4,612)
Minority interests in income of consolidated
subsidiaries . ..................................... (11,523)
Loss from continuing operations ................. (10,803)
Loss from discontinued operations, net of income taxes. (129)
Net loss. . ..................................... $ (10,932)
Income for our equity investments in TimWen and Deerfield are included in the Wendy’s restaurants and
asset management segments, respectively. Investment (loss) income, net, of Deerfield was ($7,522) and $3,040
in 2007, through the date of the Deerfield Sale, and 2006, respectively. EBITDA of the Asset Management
segment for 2007 included the gain on the Deerfield Sale of $40,193.
2008
Wendy’s
Restaurants
Arby’s
Restaurants Corporate Eliminations Total
Total assets..................... $3,840,213 $680,487 $3,178,747 $(3,053,827) $4,645,620
Liabilities and stockholders’ equity
Total liabilities ...................... 1,354,029 756,296 235,876 (83,872) 2,262,329
Total stockholders’ equity ............ 2,486,184 (75,809) 2,942,871 (2,969,955) 2,383,291
Total liabilities and stockholders’
equity . ...................... $3,840,213 $680,487 $3,178,747 $(3,053,827) $4,645,620
2007
Arby’s
Restaurants
Asset
Management Corporate Eliminations Total
Total assets .................... $1,127,772 $136,646 $599,367 $(409,218) $1,454,567
Liabilities and stockholders’ equity
Total liabilities ..................... 974,107 29,845 (2,939) 4,681 1,005,694
Total stockholders’ equity............ 153,665 106,801 602,306 (413,899) 448,873
Total liabilities and stockholders’
equity....................... $1,127,772 $136,646 $599,367 $(409,218) $1,454,567
168
WENDY’S/ARBY’S GROUP, INC. AND SUBSIDIARIES
(FORMERLY TRIARC COMPANIES, INC.)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—CONTINUED
(In Thousands Except Per Share Amounts)