Wendy's 2013 Annual Report Download - page 121

Download and view the complete annual report

Please find page 121 of the 2013 Wendy's annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 156

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156

THE WENDY’S COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—CONTINUED
(In Thousands Except Per Share Amounts)
The effect of the corrections on the consolidated statements of operations for 2012 and 2011 is summarized in
the following table:
Year Ended
2012 2011
Previously
Reported
Adjustments
Excluded
Effect of
Change
Previously
Reported
If
Adjustments
Included
Effect of
Change
Costs and expenses:
Depreciation and amortization . . . $ 146,976 $ 142,976 $(4,000) $ 122,992 $ 126,458 $ 3,466
Total costs and expenses ........ 2,382,495 2,378,495 (4,000) 2,294,237 2,297,703 3,466
Operating profit .................. 122,747 126,747 4,000 137,121 133,655 (3,466)
(Loss) income from continuing
operations before income taxes and
noncontrolling interests .......... (13,125) (9,125) 4,000 24,440 20,974 (3,466)
Benefit from (provision for) income
taxes ......................... 21,083 11,943 (9,140) (6,528) (1,897) 4,631
Income from continuing
operations ................ 7,958 2,818 (5,140) 17,912 19,077 1,165
Discontinued operations:
Loss on disposal of discontinued
operations, net of income
taxes ..................... (442) (1,022) (580) (8,799) (8,219) 580
Net income (loss) from
discontinued operations ...... 1,509 929 (580) (8,037) (7,457) 580
Net income ..................... 9,467 3,747 (5,720) 9,875 11,620 1,745
Net income attributable to
The Wendy’s Company .......... $ 7,083 $ 1,363 $(5,720) $ 9,875 $ 11,620 $ 1,745
Basic and diluted income per share
attributable to The Wendy’s
Company:
Continuing operations ......... $ 0.02 $ — $ (0.01) $ 0.04 $ 0.05 $ —
Net income ................. $ 0.02 $ — $ (0.01) $ 0.02 $ 0.03 $ —
The effect of the corrections on the consolidated statements of comprehensive income for 2012 and 2011 is
summarized in the following table:
Year Ended
2012 2011
Previously
Reported
Adjustments
Excluded
Effect of
Change
Previously
Reported
If
Adjustments
Included
Effect of
Change
Net income ..................... $ 9,467 $3,747 $(5,720) $9,875 $11,620 $1,745
Comprehensive income ............ 15,346 9,626 (5,720) 2,960 4,705 1,745
Comprehensive income attributable to
The Wendy’s Company .......... $12,962 $7,242 $(5,720) $2,960 $ 4,705 $1,745
117