Wendy's 2014 Annual Report Download - page 116
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THE WENDY’S COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—CONTINUED
(In Thousands Except Per Share Amounts)
2013 Quarter Ended
March 31 (c) June 30 (c) September 29 (c) December 29 (c)
Revenues .......................... $603,682 $650,544 $640,779 $592,405
Cost of sales ........................ 460,828 473,298 469,177 436,437
Operating profit ..................... 22,464 56,990 26,810 28,878
Income (loss) from continuing
operations ....................... 2,133 12,002 (2,162) 32,925
Net loss from discontinued operations . . . . — — — (266)
Net loss attributable to noncontrolling
interests ......................... — 222 223 410
Net income (loss) attributable to
The Wendy’s Company ............. $ 2,133 $ 12,224 $ (1,939) $ 33,069
Basic income (loss) per share attributable to
The Wendy’s Company:
Continuing operations ............ $ .01 $ .03 $ — $ .09
Discontinued operations .......... — — — —
Net income (loss) ................ $ .01 $ .03 $ — $ .08
Diluted income (loss) per share attributable
to The Wendy’s Company:
Continuing operations ............ $ .01 $ .03 $ — $ .08
Discontinued operations .......... — — — —
Net income (loss) ................ $ .01 $ .03 $ — $ .08
(a) The Company’s consolidated statements of operations were materially impacted by facilities action (income)
charges, net and impairment of long-lived assets. The pre-tax impact of facilities action (income) charges, net for
the first, third and fourth quarters of 2014 was $(44,033), $7,520 and $6,530, respectively (see Note 2 for
additional information). The pre-tax impact of impairment of long-lived assets during the third and fourth
quarters of 2014 was $3,408 and $7,245, respectively (see Note 15 for additional information).
(b) Basic and diluted net income per share are being presented together since diluted net income per share was the
same as basic net income per share for all periods presented (see Note 4 for additional information).
(c) The Company’s consolidated statements of operations were materially impacted by facilities action (income)
charges, net, impairment of long-lived assets, impairment of goodwill and losses on early extinguishment of debt.
The pre-tax impact of facilities action charges (income), net for the first, second, third and fourth quarters of
2013 was $3,038, $6,377, $22,275 and $(20,834), respectively (see Note 2 for additional information). The
pre-tax impact of impairment of long-lived assets during the third and fourth quarters of 2013 was $5,327 and
$10,552, respectively, (see Note 15 for additional information) and the pre-tax impact of impairment of goodwill
during the fourth quarter of 2013 was $9,397 (see Note 8 for additional information). The pre-tax impact of
losses on the early extinguishment of debt during the second and fourth quarters of 2013 was $21,019 and
$7,544, respectively (see Note 10 for additional information).
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