Wendy's 2014 Annual Report Download - page 96
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THE WENDY’S COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—CONTINUED
(In Thousands Except Per Share Amounts)
Fair Value Measurements
December 29,
2013 Level 1 Level 2 Level 3
2013
Total Losses
Long-lived assets ................................... $14,788 $— $— $14,788 $31,058
Goodwill ......................................... — — — — 9,397
Aircraft .......................................... 8,500 — — 8,500 5,327
Total ........................................ $23,288 $— $— $23,288 $45,782
(12) Income Taxes
Income (loss) from continuing operations before income taxes and noncontrolling interests is set forth below:
Year Ended
2014 2013 2012
Domestic ............................................. $181,872 $49,635 $(23,154)
Foreign ............................................... 19,397 9,417 10,029
$201,269 $59,052 $(13,125)
The (provision for) benefit from income taxes from continuing operations is set forth below:
Year Ended
2014 2013 2012
Current:
U.S. Federal ....................................... $ 6,087 $ (1,603) $ 104
State ............................................. (8,289) 7,879 (669)
Foreign ........................................... (8,093) (7,446) (8,667)
Current tax provision ............................ (10,295) (1,170) (9,232)
Deferred:
U.S. Federal ....................................... (70,246) (21,103) 6,458
State ............................................. 233 6,173 18,026
Foreign ........................................... 473 1,946 5,831
Deferred tax (provision) benefit .................... (69,540) (12,984) 30,315
Income tax (provision) benefit ..................... $(79,835) $(14,154) $21,083
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