Wendy's 2011 Annual Report Download - page 101

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THE WENDY’S COMPANY AND SUBSIDIARIES
WENDY’S RESTAURANTS, LLC AND SUBSIDIARIES
COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—CONTINUED
(In Thousands Except Per Share Amounts)
(e) The Wendy’s Company’s $20,000 aircraft financing facility requires monthly payments, including interest, of
approximately $180 through August 2013 with a final balloon payment of approximately $10,180 due
September 2013. During the first quarter of 2010, we made a $5,000 prepayment on the loan. This loan is
secured by an aircraft, which is classified as held-for-sale and has a net book value of $8,776 and $9,183 as of
January 1, 2012 and January 2, 2011, respectively.
Wendy’s U.S. advertising fund has a revolving line of credit of $25,000. Neither the Companies, nor Wendy’s,
is the guarantor of the debt. The advertising fund facility was established to fund the advertising fund operations. The
full amount of the line was available under this line of credit as of January 1, 2012.
At January 1, 2012, one of Wendy’s Canadian subsidiaries had a revolving credit facility of C$6,000 which
bears interest at the Bank of Montreal Prime Rate. The full amount of the line was available under this line of credit
as of January 1, 2012.
(13) Fair Value of Financial Instruments
Below are the carrying amounts and estimated fair values of the Companies’ financial instruments for which the
disclosure of fair values is required.
Year End 2011
Wendy’s
Restaurants Corporate
The Wendy’s
Company
Financial assets
Carrying Amount:
Non-current cost investments ........................ $22,832 $ 4,620 $27,452
Interest rate swaps ................................. 11,695 — 11,695
Fair Value:
Non-current cost investments (a) ...................... $25,794 $36,702 $62,496
Interest rate swaps (b) .............................. 11,695 — 11,695
Year End 2010
Wendy’s
Restaurants Corporate
The Wendy’s
Company
Financial assets
Carrying Amount:
Non-current cost investments ........................ $ 3,775 $ 4,817 $ 8,592
Interest rate swaps ................................. 9,623 — 9,623
Fair Value:
Non-current cost investments (a) ...................... $ 5,555 $14,540 $20,095
Interest rate swaps (b) .............................. 9,623 — 9,623
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