Wendy's 2010 Annual Report Download - page 80
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WENDY’S/ARBY’S GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In Thousands Except Per Share Amounts)
Year Ended
January 2,
2011
January 3,
2010
December 28,
2008
Revenues:
Sales .................................................. $3,045,317 $3,198,348 $1,662,291
Franchise revenues ....................................... 371,097 382,487 160,470
3,416,414 3,580,835 1,822,761
Costs and expenses:
Cost of sales ............................................ 2,610,761 2,728,484 1,415,534
General and administrative ................................. 416,606 452,713 248,718
Depreciation and amortization .............................. 182,172 190,251 88,315
Goodwill impairment ..................................... — — 460,075
Impairment of long-lived assets .............................. 69,477 82,132 19,203
Facilities relocation and restructuring ......................... — 11,024 3,913
Other operating expense, net ............................... 5,010 4,255 653
3,284,026 3,468,859 2,236,411
Operating profit (loss) ................................ 132,388 111,976 (413,650)
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)
Benefit from income taxes ..................................... 17,670 23,649 99,294
(Loss) income from continuing operations ..................... (4,325) 3,516 (481,958)
Income from discontinued operations, net of income taxes ............. — 1,546 2,217
Net (loss) income .................................... $ (4,325) $ 5,062 $ (479,741)
Basic and diluted (loss) income per share :
Continuing operations:
Common stock .................................. $ (.01) $ .01 $ (3.06)
Class B common stock ............................ N/A N/A (1.26)
Discontinued operations: ..................................
Common stock .................................. N/A $ — $ .01
Class B common stock ............................ N/A N/A .02
Net (loss) income: ........................................
Common stock .................................. $ (.01) $ .01 $ (3.05)
Class B common stock ............................ N/A N/A (1.24)
Dividends per share :
Common stock .......................................... $ .07 $ .06 $ .26
Class B common stock .................................... N/A N/A .26
See accompanying notes to consolidated financial statements.
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