Wendy's 2009 Annual Report Download - page 40
Download and view the complete annual report
Please find page 40 of the 2009 Wendy's annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30 -
31 -
32 -
33 -
34 -
35 -
36 -
37 -
38 -
39 -
40 -
41 -
42 -
43 -
44 -
45 -
46 -
47 -
48 -
49 -
50 -
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
 |
 |
net income representing the aforementioned $45.2 charged to operating profit offset by $15.8 of income
tax benefit related to the above charge, and a $12.8 previously unrecognized prior year contingent tax
benefit related to certain severance obligations to certain of the Company’s former executives.
(8) Reflects a significant charge recorded during 2006 as follows: $9.0 charged to loss from continuing
operations and net loss representing a $14.1 loss on early extinguishments of debt related to conversions or
effective conversions of the Company’s 5% convertible notes due 2023 and prepayments of term loans
under the Company’s senior secured term loan facility, partially offset by an income tax benefit of $5.1
related to the above charge.
(9) Reflects certain significant charges and credits recorded during 2005 as follows: $58.9 charged to operating
loss representing (1) share-based compensation charges of $28.3 representing the intrinsic value of stock
options which were exercised by the Chairman and then Chief Executive Officer and the Vice Chairman
and then President and Chief Operating Officer and subsequently replaced on the date of exercise, the
grant of contingently issuable performance-based restricted shares of the Company’s Class A and Class B
common stock and the grant of equity interests in two of the Company’s then subsidiaries, (2) a $17.2 loss
on settlements of unfavorable franchise rights representing the cost of settling franchise agreements
acquired as a component of the acquisition of RTM with royalty rates below the 2005 standard 4% royalty
rate that the Company receives on new franchise agreements and (3) facilities relocation and corporate
restructuring charges of $13.5; $67.5 charged to loss from continuing operations representing the
aforementioned $58.9 charged to operating loss and a $35.8 loss on early extinguishments of debt upon a
debt refinancing in connection with the acquisition of RTM, both partially offset by $27.2 of income tax
benefit relating to the above charges; and $64.2 charged to net loss representing the aforementioned $67.5
charged to loss from continuing operations partially offset by income from discontinued operations of $3.3
principally resulting from the release of reserves for state income taxes that were no longer required.
33