Wendy's 2012 Annual Report Download - page 113

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THE WENDY’S COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—CONTINUED
(In Thousands Except Per Share Amounts)
(27) Quarterly Financial Information (Unaudited)
The tables below set forth summary unaudited consolidated quarterly financial information for 2012 and 2011.
The Company reports on a fiscal year typically consisting of 52 or 53 weeks ending on the Sunday closest to
December 31. All of the Company’s fiscal quarters in 2012 and 2011 contained 13 weeks. As discussed in Note 2, on
July 4, 2011, Wendy’s Restaurants completed the sale of 100% of the common stock of Arby’s. Arby’s results for all
periods presented through its July 4, 2011 date of sale are classified as discontinued operations.
2012 Quarter Ended
April 1 (a)(b) July 1 (a)(c)
September 30
(a)(c)(d)
December 30
(a)(d)
Revenues .............................. $593,187 $645,868 $636,308 $629,879
Cost of sales ............................ 455,467 483,080 478,425 464,276
Operating profit ......................... 20,916 38,391 31,183 32,257
Income (loss) from continuing operations ..... 14,734 (5,493) (26,692) 25,409
Income from discontinued operations ........ — — 530 979
Net income attributable to noncontrolling
interests ............................. (2,384) — — —
Net income (loss) attributable to The Wendy’s
Company ............................ 12,350 (5,493) (26,162) 26,388
Basic and diluted income (loss) per share
attributable to The Wendy’s Company (e):
Continuing operations ................ $ .03 $ (.01) $ (.07) $ .07
Discontinued operations .............. — — — —
Net income (loss) .................... $ .03 $ (.01) $ (.07) $ .07
2011 Quarter Ended
April 3 (f) July 3 (f) October 2 (f)
January 1,
2012 (f)
Revenues .............................. $582,465 $622,459 $611,416 $615,018
Cost of sales ............................ 438,871 464,798 458,000 454,440
Operating profit ......................... 28,017 47,434 32,390 29,280
(Loss) income from continuing operations ..... (296) 11,374 2,544 4,290
Loss from discontinued operations ........... (1,113) (108) (6,510) (306)
Net (loss) income ........................ (1,409) 11,266 (3,966) 3,984
Basic and diluted income (loss) per share (e):
Continuing operations ................ $ — $ .03 $ .01 $ .01
Discontinued operations .............. — — (.02) —
Net (loss) income .................... $ — $ .03 $ (.01) $ .01
(a) Operating profit in 2012 was materially affected by facilities relocation costs and other transactions and
impairment of long-lived assets. The impact of facilities relocation costs and other transactions on net income
(loss) attributable to The Wendy’s Company for the first, second, third and fourth quarters of 2012 was $3,808,
$6,164, $7,066 and $8,311, respectively, after income tax benefits of $2,335, $3,824, $4,364 and $5,159,
respectively (see Note 17 for additional information). The impact of the impairment of long-lived assets on net
income (loss) attributable to The Wendy’s Company during the first, second and fourth quarters of 2012 was
$2,783, $2,018 and $8,216, respectively, after income tax benefits of $1,728, $1,252 and $5,100, respectively
(see Note 18 for additional information).
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