Wendy's 2010 Annual Report Download - page 128
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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)
2009
Balance
December 28,
2008 Provisions Payments
Balance
January 3,
2010
Total
Incurred
to Date
Wendy’s restaurant segment:
Cash obligations:
Severance costs ........................... $3,101 $ 8,088 $(5,559) $5,630 $ 11,189
Total Wendy’s restaurant segment .......... 3,101 8,088 (5,559) 5,630 11,189
Arby’s restaurant segment:
Cash obligations:
Employee relocation costs ................... 72 (72) — — 4,579
Other .................................. — — — — 7,471
72 (72) — — 12,050
Non-cash charges ............................. — — — — 719
Total Arby’s restaurant segment ............ 72 (72) — — 12,769
Total Wendy’s/Arby’s Restaurants .................. 3,173 8,016 (5,559) 5,630 23,958
Corporate:
Cash obligations:
Severance and retention incentive
compensation .......................... 962 3,008 (3,470) 500 87,630
Non-cash charges ......................... — — — — 835
Total Corporate ........................ 962 3,008 (3,470) 500 88,465
Total Wendy’s/Arby’s ............................ $4,135 $11,024 $(9,029) $6,130 $112,423
(17) Impairment of Long-Lived Assets
The following is a summary of our impairment of long-lived assets losses by business segment:
2010 2009 2008
Wendy’s restaurant segment:
Impairment of company-owned restaurants:
Properties .......................................... $21,201 $21,263 $ 1,578
Intangible assets ...................................... 5,125 2,180 —
26,326 23,443 1,578
Arby’s restaurant segment:
Impairment of company-owned restaurants:
Properties .......................................... 37,264 51,019 6,906
Intangible assets ...................................... 5,887 5,494 1,096
43,151 56,513 8,002
Total Wendy’s/Arby’s Restaurants ............................ 69,477 79,956 9,580
Aircraft ............................................ — 2,176 9,623
Total Wendy’s/Arby’s ..................................... $69,477 $82,132 $19,203
The Wendy’s and Arby’s company-owned restaurant impairment losses in each year predominantly reflected
impairment charges on all restaurant level assets resulting from the deterioration in operating performance of certain
restaurants, additional charges for capital improvements in restaurants impaired in a prior year which did not
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