Wendy's 2011 Annual Report Download - page 132

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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)
CONDENSED CONSOLIDATING BALANCE SHEET
January 1, 2012
Parent
Guarantor
Subsidiaries
Non-guarantor
Subsidiaries Eliminations Total
ASSETS
Current assets:
Cash and cash equivalents .............. $ 174,638 $ 128,818 $ 43,192 $ — $ 346,648
Accounts and notes receivable ........... 2,682 59,137 5,634 — 67,453
Inventories .......................... — 11,766 1,137 — 12,903
Prepaid expenses and other current assets . . . 5,446 11,732 1,230 — 18,408
Deferred income tax benefit ............. 59,737 34,226 1,000 — 94,963
Advertising funds restricted assets ......... — — 69,672 — 69,672
Total current assets ................ 242,503 245,679 121,865 — 610,047
Properties ............................... 12,431 1,120,383 59,382 — 1,192,196
Goodwill ............................... — 828,411 145,133 (97,836) 875,708
Other intangible assets ..................... 18,011 1,262,070 24,207 — 1,304,288
Investments ............................. 19,000 — 95,651 — 114,651
Deferred costs and other assets ............... 26,446 40,131 250 — 66,827
Net investment in subsidiaries ............... 2,253,006 348,931 — (2,601,937) —
Deferred income tax benefit ................. 29,269 — — (29,269) —
Due from affiliate ......................... 295,080 — — (295,080) —
Total assets ...................... $2,895,746 $3,845,605 $446,488 $(3,024,122) $4,163,717
LIABILITIES AND INVESTED EQUITY
Current liabilities:
Current portion of long-term debt ........ $ 3,952 $ 923 $ 262 $ — $ 5,137
Accounts payable ..................... 9,215 64,251 7,520 — 80,986
Accrued expenses and other current
liabilities .......................... 62,209 137,105 12,836 — 212,150
Advertising funds restricted liabilities ...... — — 69,672 — 69,672
Total current liabilities ............. 75,376 202,279 90,290 — 367,945
Long-term debt .......................... 1,017,401 319,643 3,515 — 1,340,559
Due to affiliates .......................... — 308,654 1,794 (295,080) 15,368
Deferred income ......................... — 6,132 391 — 6,523
Deferred income taxes ..................... — 551,579 15,379 (29,269) 537,689
Other liabilities .......................... 3,305 84,647 8,017 — 95,969
Invested equity:
Member interest, $0.01 par value; 1,000
shares authorized, one share issued and
outstanding ....................... — — — — —
Other capital ........................ 2,440,130 2,168,046 332,707 (2,500,753) 2,440,130
(Accumulated deficit) retained earnings .... (486,567) 358,524 (6,706) (351,818) (486,567)
Advances to The Wendy’s Company ...... (155,000) (155,000) — 155,000 (155,000)
Accumulated other comprehensive
income ........................... 1,101 1,101 1,101 (2,202) 1,101
Total invested equity .............. 1,799,664 2,372,671 327,102 (2,699,773) 1,799,664
Total liabilities and invested equity . . . $2,895,746 $3,845,605 $446,488 $(3,024,122) $4,163,717
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