Wendy's 2009 Annual Report Download - page 124

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Balance
December 31,
2006 Provisions Payments
Write-off
of Assets
Balance
December 30,
2007
2007
Arby’s restaurant segments:
Cash obligations:
Severance and retention incentive
compensation........................ $340 $ 15 $ (355) $— $ —
Employee relocation costs . . . . . . . . . . . . . . . 134 637 (180) — 591
Office relocation costs . . . . . . . . . . . . . . . . . . 45 — (45) — —
Lease termination costs . . . . . . . . . . . . . . . . . 302 — (302) — —
Total Arby’s restaurants segment . . . . . . 821 652 (a) (882) — 591
General corporate:
Cash obligations:
Severance and retention incentive
compensation. . . . . . . . . . . . . . . . . . . . . . . . — 83,930 (71,722) — 12,208
Non-cash charges:
Loss on properties and other assets. . . . . . . — 835 — (835) —
Total General corporate . . . . . . . . . . . . . . — 84,765 (71,722) (835) 12,208
$821 $85,417 $(72,604) $(835) $12,799
(a) Reflects change in estimate of total cost to be incurred.
(15) Impairment of Other Long-Lived Assets
The following is a summary of our impairment of other long-lived assets losses by business segment:
2009 2008 2007
Arby’s restaurants segment:
Impairment of Company-owned restaurants:
Properties................................................ $51,019 $ 6,906 $1,717
Intangible assets.......................................... 5,494 1,096 906
56,513 8,002 2,623
Wendy’s restaurants segment:
Impairment of Company-owned restaurants:
Properties................................................ 21,263 1,578 —
Intangible assets.......................................... 2,180 — —
23,443 1,578 —
Asset management segment .................................... — — 4,422
General corporate—aircraft..................................... 2,176 9,623 —
Total impairment of other long-lived assets . . . . . . . . . . . . . . . . . . . $82,132 $19,203 $7,045
The Arby’s and Wendy’s Company-owned restaurants impairment losses in each year predominantly
reflected (1) impairment charges on all restaurant level assets resulting from the deterioration in operating
performance of certain restaurants, (2) additional charges for capital improvements in restaurants impaired in a
prior year which did not subsequently recover, and (3) write-downs in the carrying value of surplus properties
and properties held for sale.
117
Wendy’s/Arby’s Group, Inc. and Subsidiaries
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—CONTINUED
(In Thousands Except Per Share Amounts)