Wendy's 2008 Annual Report Download - page 83

financial instruments entered into for other than trading purposes as of December 28, 2008 and December 30,
2007 based upon assumed immediate adverse effects as noted below (in millions):
Carrying
Value
Interest
Rate Risk
Equity
Price Risk
Foreign
Currency
Risk
Year-End 2008
Cash equivalents............................................ $ 36.8 $ — $ — $(0.4)
Investment related receivables. ............................... 0.4 — — —
Current and non-current restricted cash equivalents ........... 54.8 — — —
Available-for-sale equity securities ........................... 0.2 — — —
Available-for-sale equity securities—restricted ................. 30.1 — (3.0) —
Equity investments ......................................... 90.0 — (9.0) (9.0)
Other investments .......................................... 12.8 (0.1) (1.2) —
DFR Notes ................................................ 25.3 (0.3) — —
Investments in liability positions:
Securities sold with an obligation to purchase—restricted . . . . (16.6) (0.2) (1.7) —
Total return swap on equity securities—restricted ........... (3.0) — (1.5) (1.1)
Long-term debt, excluding capitalized lease and sale-leaseback
obligations—variable ..................................... (385.0) (11.9) — —
Long-term debt, excluding capitalized lease and sale-leaseback
obligations—fixed ........................................ (495.9) (61.0) — —
Carrying
Value
Interest
Rate Risk
Equity
Price Risk
Foreign
Currency
Risk
Year-End 2007
Cash equivalents............................................ $ 60.5 $ — $ — $ —
Investment related receivables. ............................... 0.4 — — —
Restricted cash equivalents—non-current...................... 45.3 — — —
Available-for-sale securities:
Equities Account—restricted ............................ 48.1 — (4.8) —
DFR preferred stock.................................... 70.4 — (7.0) —
Other ................................................. 2.6 — (0.3) —
Investment in Jurlique ...................................... 8.5 — (0.9) (0.9)
Investment derivatives in the Equities Account:
Put option on market index ............................ 4.9 — (2.9) —
Total return swap on an equity security.................. 2.2 — (2.4) (0.2)
Put and call option combinations on equity securities . . . . . 0.5 — (1.4) —
Other investments ......................................... 7.4 — (0.7) —
Interest rate swaps in an asset position ....................... 0.1 (0.5) — —
DFR Notes ................................................ 46.2 (0.5) — —
Interest rate swaps in a liability position ..................... (0.4) (0.9) — —
Put and call option combinations on equity securities.......... (0.3) — (2.4) —
Long-term debt, excluding capitalized lease and sale-leaseback
obligations—variable ..................................... (561.1) (20.6) — —
The sensitivity analysis of financial instruments held at December 28, 2008 and December 30, 2007
assumes (1) an instantaneous one percentage point adverse change in market interest rates, (2) an instantaneous
10% adverse change in the equity markets in which we are invested and (3) an instantaneous 10% adverse
change in the foreign currency exchange rates versus the United States dollar, each from their levels at
December 28, 2008 and December 30, 2007, respectively, and with all other variables held constant. The
equity price risk reflects the impact of a 10% decrease in the carrying value of our equity securities, including
those in “Other investments” in the tables above. The sensitivity analysis also assumes that the decreases in the
equity markets and foreign exchange rates are other than temporary. We have not reduced the equity price risk
for available-for-sale investments and cost investments to the extent of unrealized gains on certain of those
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