Wendy's 2011 Annual Report Download - page 71
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THE WENDY’S COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In Thousands Except Per Share Amounts)
Year Ended
January 1,
2012
January 2,
2011
January 3,
2010
Revenues:
Sales .................................................. $2,126,544 $2,079,081 $2,134,242
Franchise revenues ....................................... 304,814 296,358 302,853
2,431,358 2,375,439 2,437,095
Costs and expenses:
Cost of sales ............................................ 1,816,109 1,756,954 1,812,056
General and administrative ................................. 292,390 311,511 353,148
Depreciation and amortization .............................. 122,992 126,846 134,063
Impairment of long-lived assets .............................. 12,883 26,326 25,619
Transaction related and other costs ........................... 45,711 — —
Merger restructuring ...................................... — — 11,096
Other operating expense, net ............................... 4,152 3,357 3,469
2,294,237 2,224,994 2,339,451
Operating profit ................................. 137,121 150,445 97,644
Interest expense ............................................. (114,110) (118,385) (106,878)
Loss on early extinguishment of debt ............................. — (26,197) —
Investment income (expense), net ................................ 484 5,259 (3,092)
Other than temporary losses on investments ........................ — — (3,916)
Other income (expense), net .................................... 945 2,434 (20)
Income (loss) from continuing operations before income
taxes ............................................ 24,440 13,556 (16,262)
(Provision for) benefit from income taxes .......................... (6,528) 4,555 21,640
Income from continuing operations ...................... 17,912 18,111 5,378
Discontinued operations:
Income (loss) from discontinued operations, net of income taxes .... 762 (22,436) (316)
Loss on disposal of discontinued operations, net of income taxes .... (8,799) — —
Net loss from discontinued operations .................... (8,037) (22,436) (316)
Net income (loss) ................................ $ 9,875 $ (4,325) $ 5,062
Basic and diluted income (loss) per share:
Continuing operations .................................... $ .04 $ .04 $ .01
Discontinued operations ................................... (.02) (.05) .00
Net income (loss) ........................................ $ .02 $ (.01) $ .01
Dividends per share: .......................................... $ .08 $ .07 $ .06
See accompanying notes to consolidated financial statements.
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