Wendy's 2010 Annual Report Download - page 39

$25.6 million available for the payment of dividends directly to Wendy’s/Arby’s from Wendy’s/Arby’s Restaurants,
Wendy’s, or Arby’s. See Note 11 of the Financial Statements and Supplementary Data included in Item 8 herein, and
“Management’s Discussion and Analysis—Results of Operations and Liquidity and Capital Resources” in Item 7
herein, for further information on the Credit Agreement.
Item 6. Selected Financial Data.
(Wendy’s/Arby’s)
Year Ended (1)
January 2,
2011
January 3,
2010
December 28,
2008(2)
December 30,
2007(2)
December 31,
2006(2)
(In Millions, except per share amounts)
Sales .................................... $3,045.3 $3,198.3 $1,662.3 $1,113.4 $1,073.3
Franchise revenues ......................... 371.1 382.5 160.5 87.0 82.0
Asset management and related fees ............. — — — 63.3 88.0
Revenues ................................. 3,416.4 3,580.8 1,822.8 1,263.7 1,243.3
Operating profit (loss) ....................... 132.4(5) 112.0(6) (413.6)(7) 19.9(8) 44.6
(Loss) income from continuing operations ....... (4.3)(5) 3.5(6) (482.0)(7) 15.1(8) 0.7(9)
Income from discontinued operations ........... — 1.6 2.2 1.0 —
Net (loss) income .......................... (4.3)(5) 5.1(6) (479.8)(7) 16.1(8) (10.9)(9)
Basic and diluted income (loss) per share (3):
Continuing operations:
Common stock ........................ (.01) .01 (3.06) .15 (.13)
Class B common stock .................. N/A N/A (1.26) .17 (.13)
Discontinued operations:
Common stock ........................ N/A — .01 .01 N/A
Class B common stock .................. N/A N/A .02 .01 N/A
Net (loss) income
Common stock ........................ (.01) .01 (3.05) .16 (.13)
Class B common stock .................. N/A N/A (1.24) .18 (.13)
Cash dividends per share:
Common stock .......................... .07 .06 .26 .32 .77
Class B common stock .................... N/A N/A .26 .36 .81
Weighted average shares outstanding (4):
Common stock .......................... 426.3 466.2 137.7 28.8 27.3
Class B common stock .................... N/A N/A 48.0 63.5 59.3
January 2,
2011
January 3,
2010
December 28,
2008(2)
December 30,
2007(2)
December 31,
2006(2)
(In Millions)
Working capital (deficiency) .................. $ 333.3 $ 403.8 $ (121.7) $ (36.9) $ 161.2
Properties ................................ 1,551.3 1,619.2 1,770.4 504.9 488.5
Total assets ............................... 4,732.7 4,975.4 4,645.6 1,454.6 1,560.4
Long-term debt, including current portion ....... 1,572.4 1,522.9 1,111.6 739.3 720.0
Stockholders’ equity ........................ 2,163.2 2,336.3 2,383.4 449.8 492.0
(1) Wendy’s/Arby’s reports on a fiscal year consisting of 52 or 53 weeks ending on the Sunday closest to
December 31. Except for the 2009 fiscal year, which contained 53 weeks, each of Wendy’s/Arby’s fiscal years
presented above contained 52 weeks. All references to years relate to fiscal years rather than calendar years. The
financial position and results of operations of Wendy’s are included commencing with the date of the Wendy’s
Merger, September 29, 2008. Immediately prior to the Wendy’s Merger, each share of our Class B common
stock was converted into Class A common stock on a one for one basis. In connection with the May 28, 2009
amendment and restatement of Wendy’s/Arby’s Certificate of Incorporation, Wendy’s/Arby’s former Class A
common stock is now referred to as “Common Stock.” Deerfield & Company LLC (“Deerfield”), in which
Wendy’s/Arby’s held a 63.6% capital interest from July 22, 2004 through its sale on December 21, 2007,
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