Wendy's 2011 Annual Report Download - page 77
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WENDY’S RESTAURANTS, LLC AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In Thousands)
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 1,812,052
General and administrative ................................. 281,591 303,324 343,121
Depreciation and amortization .............................. 122,365 124,984 132,318
Impairment of long-lived assets .............................. 12,883 26,326 23,443
Transaction related and other costs ........................... 44,477 — —
Merger restructuring ...................................... — — 8,088
Other operating expense, net ............................... 4,041 3,494 2,453
2,281,466 2,215,082 2,321,475
Operating profit ................................. 149,892 160,357 115,620
Interest expense ............................................. (113,243) (117,349) (105,562)
Loss on early extinguishment of debt ............................. — (26,197) —
Other income (expense), net .................................... 943 1,317 (4,600)
Income from continuing operations before income taxes ...... 37,592 18,128 5,458
(Provision for) benefit from income taxes .......................... (16,622) 1,670 6,053
Income from continuing operations ...................... 20,970 19,798 11,511
Discontinued operations:
Income (loss) from discontinued operations, net of income taxes .... 762 (22,436) (1,862)
Loss on disposal of discontinued operations, net of income taxes .... (8,799) — —
Net loss from discontinued operations .................... (8,037) (22,436) (1,862)
Net income (loss) ............................................ $ 12,933 $ (2,638) $ 9,649
See accompanying notes to consolidated financial statements.
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