Wendy's 2011 Annual Report Download - page 135
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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 STATEMENT OF OPERATIONS
For the year ended January 2, 2011
Parent
Guarantor
Subsidiaries
Non-guarantor
Subsidiaries Eliminations Total
Revenues:
Sales ................................. $ — $1,853,269 $225,837 $ (25) $2,079,081
Franchise revenues ...................... — 277,496 18,899 (37) 296,358
— 2,130,765 244,736 (62) 2,375,439
Costs and expenses:
Cost of sales ........................... — 1,562,141 194,813 — 1,756,954
General and administrative ................ — 258,289 45,035 — 303,324
Depreciation and amortization ............. 11,920 102,148 10,916 — 124,984
Impairment of long-lived assets ............. — 22,458 3,868 — 26,326
Other operating expense (income), net ....... — 10,887 (7,393) — 3,494
11,920 1,955,923 247,239 — 2,215,082
Operating (loss) profit ............ (11,920) 174,842 (2,503) (62) 160,357
Interest expense ............................. (78,737) (29,044) (9,568) — (117,349)
Loss on early extinguishment of debt ............ — (20,430) (5,767) — (26,197)
Other income (expense), net ................... 158 16,051 (14,892) — 1,317
Equity in income (loss) of subsidiaries ............ 19,446 (50,152) — 30,706 —
(Loss) income from continuing operations
before income taxes ................ (71,053) 91,267 (32,730) 30,644 18,128
Benefit from (provision for) income taxes ......... 68,415 (49,323) (17,422) — 1,670
(Loss) income from continuing
operations ....................... (2,638) 41,944 (50,152) 30,644 19,798
Discontinued operations:
Loss from discontinued operations, net of
income taxes ..................... — — (22,492) 56 (22,436)
Net (loss) income ............... $ (2,638) $ 41,944 $ (72,644) $30,700 $ (2,638)
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