Wendy's 2010 Annual Report Download - page 144
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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)
2010 2009 2008
Wendy’s/Arby’s:
Segment operating profit (loss) ........................ $ 132,388 $ 111,976 $(413,650)
Unallocated items:
Interest expense ................................. (137,229) (126,708) (67,009)
Loss on early extinguishment of debt ................. (26,197) — —
Investment income (expense), net .................... 5,261 (3,008) 9,438
Other than temporary losses on investments ............ — (3,916) (112,741)
Other income, net ............................... 3,782 1,523 2,710
Loss from continuing operations before income taxes ....... $ (21,995) $ (20,133) $(581,252)
Year End
2010 2009
Total assets:
Wendy’s ....................................... $3,725,108 $3,996,371
Arby’s ......................................... 522,569 562,192
Wendy’s/Arby’s Restaurants corporate ................ 169,020 305,327
Wendy’s/Arby’s Restaurants ...................... 4,416,697 4,863,890
Corporate ...................................... 315,957 111,526
Wendy’s/Arby’s ............................... $4,732,654 $4,975,416
(Wendy’s/Arby’s Restaurants and Wendy’s/Arby’s)
Equity method investment ......................... $ 98,631 $ 97,476
2010 2009
Cash capital expenditures:
Wendy’s ....................................... $ 73,317 $ 55,155
Arby’s ......................................... 57,577 29,646
Wendy’s/Arby’s Restaurants corporate (2) ............. 17,075 17,113
Wendy’s/Arby’s Restaurants ...................... 147,969 101,914
Corporate ...................................... — —
Wendy’s/Arby’s ............................... $ 147,969 $ 101,914
(1) Sales include sales of bakery items and kids’ meal promotion items sold to franchisees.
(2) The Wendy’s/Arby’s Restaurants corporate capital expenditures are primarily related to our shared services center.
Income for our equity investment in TimWen is included in the Wendy’s restaurants segment.
In the first quarter of 2009, Wendy’s/Arby’s began charging the restaurant segments for support services based
upon budgeted segment revenues. Prior to that date, the restaurant segments had directly incurred such costs.
Commencing with the second quarter of 2009, Wendy’s/Arby’s established a shared service center in Atlanta and
allocates its operating costs to the restaurant segments based also on budgeted segment revenues.
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