Wendy's 2010 Annual Report Download - page 109
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WENDY’S/ARBY’S GROUP, INC. AND SUBSIDIARIES
WENDY’S/ARBY’S RESTAURANTS, LLC AND SUBSIDIARIES
COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—CONTINUED
(In Thousands Except Per Share Amounts)
(10) Accrued Expenses
Year End 2010
Wendy’s/Arby’s
Restaurants Corporate Wendy’s/Arby’s
Accrued compensation and related benefits .............. $ 83,036 $ 111 $ 83,147
Insurance reserves ................................. 58,811 — 58,811
Accrued taxes .................................... 38,081 (1,192) 36,889
Accrued interest .................................. 29,901 62 29,963
Other .......................................... 34,471 1,876 36,347
$244,300 $ 857 $245,157
Year End 2009
Wendy’s/Arby’s
Restaurants Corporate Wendy’s/Arby’s
Accrued compensation and related benefits .............. $ 81,864 $ — $ 81,864
Insurance reserves ................................. 54,924 — 54,924
Accrued taxes .................................... 40,952 (2,190) 38,762
Accrued interest .................................. 34,283 286 34,569
Other .......................................... 56,158 2,813 58,971
$268,181 $ 909 $269,090
(11) Long-Term Debt
Long-term debt consisted of the following:
Year End
2010 2009
Senior Notes, due in 2016 (a) .................................... $ 553,258 $ 551,779
Term Loan, due in 2017 (b) ..................................... 495,226 —
Senior secured term loan (b) ..................................... — 251,488
6.20% senior notes, due in 2014 (c) ............................... 217,855 204,303
6.25% senior notes (b) ......................................... — 193,618
Sale-leaseback obligations, due through 2029 ........................ 121,884 125,176
Capitalized lease obligations, due through 2040 ...................... 86,670 89,886
7% debentures, due in 2025 (d) .................................. 81,204 80,081
Other ...................................................... 3,634 5,579
1,559,731 1,501,910
Less amounts payable within one year .............................. (17,047) (16,178)
Total Wendy’s/Arby’s Restaurants long-term debt ................ 1,542,684 1,485,732
6.54% aircraft term loan, due in 2013 (e) ........................... 12,671 18,901
5% convertible notes (f) ........................................ — 2,100
Less amounts payable within one year .............................. (1,368) (5,949)
Total Wendy’s/Arby’s long-term debt .......................... $1,553,987 $1,500,784
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