Wendy's 2010 Annual Report Download - page 87
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WENDY’S/ARBY’S RESTAURANTS, LLC AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In Thousands)
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 2,728,480 1,415,530
General and administrative ................................. 408,419 442,686 213,161
Depreciation and amortization .............................. 180,310 188,506 85,058
Goodwill impairment ..................................... — — 460,075
Impairment of long-lived assets .............................. 69,477 79,956 9,580
Facilities relocation and restructuring ......................... — 8,016 3,221
Other operating expense, net ............................... 5,147 3,239 652
3,274,114 3,450,883 2,187,277
Operating profit (loss) ................................ 142,300 129,952 (364,516)
Interest expense ............................................. (136,193) (125,392) (66,925)
Loss on early extinguishment of debt ............................. (26,197) — —
Other income (expense), net .................................... 2,667 (2,973) 3,234
(Loss) income before income taxes ............................... (17,423) 1,587 (428,207)
Benefit from income taxes ..................................... 14,785 8,062 63,121
Net (loss) income .................................... $ (2,638) $ 9,649 $ (365,086)
See accompanying notes to consolidated financial statements.
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