$WEN
Wendy's Co

2016 Q2 Form 10-Q Financial Statement

#000003069716000014 Filed on May 11, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q1
Revenue $378.8M $451.8M
YoY Change -22.62% -11.15%
Cost Of Revenue $214.7M $305.1M
YoY Change -31.86% -16.03%
Gross Profit $164.1M $146.7M
YoY Change -5.94% 1.08%
Gross Profit Margin 43.31% 32.46%
Selling, General & Admin $64.60M $59.70M
YoY Change 6.25% -14.22%
% of Gross Profit 39.38% 40.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $33.29M $36.88M
YoY Change -20.55% -13.22%
% of Gross Profit 20.29% 25.15%
Operating Expenses $98.40M $101.4M
YoY Change -10.14% -10.66%
Operating Profit $63.83M $37.91M
YoY Change -0.74% -56.56%
Interest Expense $28.11M $12.74M
YoY Change 63.41% -1.93%
% of Operating Profit 44.04% 33.61%
Other Income/Expense, Net $262.0K $239.0K
YoY Change -3.68% -54.3%
Pretax Income $35.98M $25.41M
YoY Change -10.23% -66.81%
Income Tax $10.62M $7.257M
% Of Pretax Income 29.51% 28.56%
Net Earnings $25.36M $27.51M
YoY Change -36.9% -40.59%
Net Earnings / Revenue 6.7% 6.09%
Basic Earnings Per Share $0.09 $0.08
Diluted Earnings Per Share $0.09 $0.07
COMMON SHARES
Basic Shares Outstanding 270.2M shares 366.6M shares
Diluted Shares Outstanding 274.8M shares 373.2M shares

Balance Sheet

Concept 2016 Q2 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $312.9M $202.9M
YoY Change -73.87% -47.26%
Cash & Equivalents $312.9M $202.9M
Short-Term Investments
Other Short-Term Assets $202.8M $251.3M
YoY Change -27.57% -0.99%
Inventory $3.607M $7.941M
Prepaid Expenses
Receivables $88.00M $76.40M
Other Receivables $0.00 $0.00
Total Short-Term Assets $607.4M $538.4M
YoY Change -60.91% -24.24%
LONG-TERM ASSETS
Property, Plant & Equipment $1.236B $1.288B
YoY Change -1.51% 12.29%
Goodwill $767.5M $818.8M
YoY Change -3.55% -0.96%
Intangibles $1.334B $1.345B
YoY Change -1.91% 0.05%
Long-Term Investments $61.30M $70.20M
YoY Change -13.3% -12.14%
Other Assets $145.1M $72.90M
YoY Change 100.92% 62.4%
Total Long-Term Assets $3.543B $3.595B
YoY Change -0.27% 4.42%
TOTAL ASSETS
Total Short-Term Assets $607.4M $538.4M
Total Long-Term Assets $3.543B $3.595B
Total Assets $4.150B $4.134B
YoY Change -18.73% -0.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $36.37M $72.27M
YoY Change -46.0% 19.66%
Accrued Expenses $110.3M $123.9M
YoY Change -15.27% -10.9%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $23.50M $57.60M
YoY Change 33.52% 52.38%
Total Short-Term Liabilities $257.0M $332.6M
YoY Change -13.73% 7.67%
LONG-TERM LIABILITIES
Long-Term Debt $2.479B $1.392B
YoY Change 4.15% -2.21%
Other Long-Term Liabilities $229.0M $203.9M
YoY Change 5.52% -1.0%
Total Long-Term Liabilities $229.0M $203.9M
YoY Change 5.52% -1.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $257.0M $332.6M
Total Long-Term Liabilities $229.0M $203.9M
Total Liabilities $3.417B $536.5M
YoY Change 1.44% 4.2%
SHAREHOLDERS EQUITY
Retained Earnings -$347.5M -$438.6M
YoY Change -16.95% -5.52%
Common Stock $47.04M $47.04M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.782B $698.3M
YoY Change 146.31% 4.51%
Treasury Stock Shares 202.0M shares 105.1M shares
Shareholders Equity $733.6M $1.716B
YoY Change
Total Liabilities & Shareholders Equity $4.150B $4.134B
YoY Change -18.73% -0.49%

Cashflow Statement

Concept 2016 Q2 2015 Q1
OPERATING ACTIVITIES
Net Income $25.36M $27.51M
YoY Change -36.9% -40.59%
Depreciation, Depletion And Amortization $33.29M $36.88M
YoY Change -20.55% -13.22%
Cash From Operating Activities $50.81M $21.74M
YoY Change 61.81% 47.48%
INVESTING ACTIVITIES
Capital Expenditures -$38.90M -$61.30M
YoY Change -43.79% 15.44%
Acquisitions $2.209M $1.232M
YoY Change
Other Investing Activities $38.60M $151.0K
YoY Change -65.66% -146.46%
Cash From Investing Activities -$228.0K -$58.38M
YoY Change -100.53% -204.77%
FINANCING ACTIVITIES
Cash Dividend Paid $16.21M $20.20M
YoY Change 10.34%
Common Stock Issuance & Retirement, Net $47.60M $36.96M
YoY Change -86.67%
Debt Paid & Issued, Net $6.696M $9.444M
YoY Change -4.61%
Cash From Financing Activities -$69.58M -$22.62M
YoY Change -107.57% -91.44%
NET CHANGE
Cash From Operating Activities $50.81M $21.74M
Cash From Investing Activities -$228.0K -$58.38M
Cash From Financing Activities -$69.58M -$22.62M
Net Change In Cash -$19.00M -$59.26M
YoY Change -101.91% -69.41%
FREE CASH FLOW
Cash From Operating Activities $50.81M $21.74M
Capital Expenditures -$38.90M -$61.30M
Free Cash Flow $89.71M $83.04M
YoY Change -10.83% 22.4%

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CY2016Q2 us-gaap Net Cash Provided By Used In Investing Activities
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CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2016Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2015Q1 us-gaap Net Income Loss
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CY2016Q2 us-gaap Net Income Loss
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CY2015Q1 us-gaap Number Of Interest Rate Derivatives Held
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7 cash_flow_hedge
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2016Q1 us-gaap Other Assets Noncurrent
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OtherComprehensiveIncomeLossNetOfTax
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OtherComprehensiveIncomeLossNetOfTax
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CY2015Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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203000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
0 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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CY2016Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
0 USD
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445000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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OtherLiabilitiesNoncurrent
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OtherNoncashIncomeExpense
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OtherNonoperatingIncomeExpense
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OtherNonoperatingIncomeExpense
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OtherOperatingIncomeExpenseNet
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CY2016Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
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PaymentsForRepurchaseOfCommonStock
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112000 USD
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138000 USD
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PaymentsOfDividends
20199000 USD
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PaymentsOfDividends
16214000 USD
CY2015Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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CY2016Q2 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2209000 USD
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PaymentsToAcquireInvestments
2000000 USD
CY2016Q2 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
64000 USD
CY2016Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1227944000 USD
CY2015Q1 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
151000 USD
CY2016Q2 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
1327000 USD
CY2015Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
61280000 USD
CY2016Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
38858000 USD
CY2016Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
69919000 USD
CY2016Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
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CY2015Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
6283000 USD
CY2016Q2 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
41185000 USD
CY2015Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
17124000 USD
CY2016Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3674000 USD
CY2016Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1235596000 USD
CY2015Q1 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
2532000 USD
CY2016Q2 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
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CY2015Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
9444000 USD
CY2016Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
6696000 USD
CY2016Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
42869000 USD
CY2016Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
41782000 USD
CY2015Q1 us-gaap Restructuring Charges
RestructuringCharges
4613000 USD
CY2016Q2 us-gaap Restructuring Charges
RestructuringCharges
3250000 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-356632000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-347486000 USD
CY2015Q1 us-gaap Revenues
Revenues
451769000 USD
CY2016Q2 us-gaap Revenues
Revenues
378787000 USD
CY2015Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
357569000 USD
CY2016Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
259332000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
5068000 USD
CY2016Q2 us-gaap Share Based Compensation
ShareBasedCompensation
5081000 USD
CY2015Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
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CY2016Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
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CY2015Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2016Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3216000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2015Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
752914000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
733589000 USD
CY2015Q1 us-gaap Stockholders Equity Other
StockholdersEquityOther
-46000 USD
CY2016Q2 us-gaap Stockholders Equity Other
StockholdersEquityOther
-46000 USD
CY2016Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
198109000 shares
CY2016Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
202028000 shares
CY2016Q1 us-gaap Treasury Stock Value
TreasuryStockValue
1741425000 USD
CY2016Q2 us-gaap Treasury Stock Value
TreasuryStockValue
1781511000 USD
CY2015Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
36963000 USD
CY2016Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
48268000 USD
CY2015Q2 us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
-7275000 USD
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
373208000 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
274750000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
366584000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
270214000 shares
CY2016Q2 wen Accelerated Depreciationand Amortization
AcceleratedDepreciationandAmortization
1822000 USD
CY2016Q1 wen Advertising Funds Restricted Assets
AdvertisingFundsRestrictedAssets
67399000 USD
CY2016Q2 wen Advertising Funds Restricted Assets
AdvertisingFundsRestrictedAssets
86865000 USD
CY2016Q1 wen Advertising Funds Restricted Liabilities
AdvertisingFundsRestrictedLiabilities
67399000 USD
CY2016Q2 wen Advertising Funds Restricted Liabilities
AdvertisingFundsRestrictedLiabilities
86865000 USD
CY2015Q1 wen Equity In Earnings For Period Net Of Amortization Of Purchase Price Adjustments
EquityInEarningsForPeriodNetOfAmortizationOfPurchasePriceAdjustments
2042000 USD
CY2016Q2 wen Equity In Earnings For Period Net Of Amortization Of Purchase Price Adjustments
EquityInEarningsForPeriodNetOfAmortizationOfPurchasePriceAdjustments
1899000 USD
CY2015Q1 wen Futurecompanyownedrestaurantownershippercentage
Futurecompanyownedrestaurantownershippercentage
0.05
CY2015Q1 wen Gain Losson Saleof Property Plantand Equipmentincluding Discontinued Operations
GainLossonSaleofPropertyPlantandEquipmentincludingDiscontinuedOperations
-813000 USD
CY2016Q2 wen Gain Losson Saleof Property Plantand Equipmentincluding Discontinued Operations
GainLossonSaleofPropertyPlantandEquipmentincludingDiscontinuedOperations
8426000 USD
CY2015Q1 wen Noncash Rent Expense Income
NoncashRentExpenseIncome
1789000 USD
CY2016Q2 wen Noncash Rent Expense Income
NoncashRentExpenseIncome
-1962000 USD
CY2015Q1 wen Realizedlossesonderivativesoperating
Realizedlossesonderivativesoperating
0 USD
CY2016Q2 wen Realizedlossesonderivativesoperating
Realizedlossesonderivativesoperating
723000 USD
CY2016Q2 wen Significant Changes Planned Franchisesto Sell
SignificantChangesPlannedFranchisestoSell
260 Restaurant
CY2015Q1 wen Significant Changes Planned Franchisesto Sell
SignificantChangesPlannedFranchisestoSell
540 Restaurant
CY2015Q1 wen State Income Tax Benefitfrom Tax Examination
StateIncomeTaxBenefitfromTaxExamination
1872000 USD

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