The wendy’s company (WEN)
CashFlow / Yearly
Dec'19Dec'18Dec'17Jan'17Jan'16Dec'14Dec'13Dec'12Jan'12Jan'11Jan'10Dec'08
Cash flows from operating activities:
Net income

136,940

460,115

194,029

129,624

161,142

121,434

44,632

9,467

9,875

-4,325

5,062

-479,741

Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization

131,693

128,879

125,687

124,304

153,732

159,860

200,219

154,174

145,302

182,172

190,251

88,315

Share-based compensation

18,676

17,918

20,928

18,141

23,231

28,243

19,613

11,473

17,688

13,704

15,294

9,129

Asset Impairment Charges

6,999

4,697

4,097

16,241

25,001

19,613

36,385

-

-

-

82,132

19,203

Impairment

-

-

-

-

-

-

45,782

21,097

14,441

69,477

-

-

Equity in earnings in joint venture

-

-

-

-

-

-

-

-

-

-

-8,499

-1,974

Deferred income tax

837

-6,568

-119,330

-14,213

89,026

69,540

12,853

-31,598

1,624

-

-40,127

-105,276

Excess tax benefits from share-based compensation

-

-

-

-

-

9,363

0

-

-

-

-

-

Non-cash rental expense, net

28,202

-17,043

-11,822

-7,543

3,364

1,951

8,152

7,210

7,554

9,334

12,618

3,103

Change in operating lease liabilities

41,911

0

0

-

-

-

-

-

-

-

-

-

Net (recognition) receipt of deferred vendor incentives

-501

139

1,901

959

-2,559

4,063

-6,318

920

-7,070

587

-791

-6,459

Gain (Loss) on Disposition of Property Plant Equipment

1,283

463

-39,076

71,931

74,041

91,579

51,372

-

-

-

-

-

Income from discontinued operations

-

-

-

-

-

-

-

-

-

-

-1,546

-2,217

Impairment of goodwill

-

-

-

-

-

-

9,397

-

-

-

0

460,075

Gain on disposal of the Bakery

-

-

-

-

25,529

0

0

-

-

-

-

-

Gain (Loss) on Sale of Investments

24,496

450,000

2,570

497

335

975

-799

-

-

-

2,484

105,357

Proceeds from Equity Method Investment, Distribution

13,400

13,390

11,713

11,426

12,451

13,896

14,116

15,274

14,942

13,980

14,583

2,864

Other net recognized gains

-

-

-

-

-

-

-

-

-

-

-1,432

-7,384

Supplemental total of operating investment adjustments

-

-

-

-

-

-

-

-

-

-

2,484

105,357

Equity in earnings in joint ventures, net

8,673

8,076

7,573

8,351

9,205

10,176

9,722

8,724

9,465

9,459

-

-

Long-term debt-related activities, net

15,317

18,673

12,075

11,767

8,075

3,625

36,992

-

-

-

-

-

Other, net

-4,838

5,178

1,253

3,719

-4,318

11,686

8,908

-3,093

-2,999

-8,264

-4,317

-3,886

Provision for doubtful accounts

-

-

-

-

-

-

-

-

-

-

8,169

670

Deferred Income Tax Expense (Benefit), Including Portion Attributable to Discontinued Operations

-

-

-

-

-

-

-

-

-

-29,779

-

-

Operating investment adjustments, net

-

-

-

-

-

-

-

27,769

145

5,201

-

-

Changes in operating assets and liabilities:
Restricted cash

-

-

-

-

23,640

0

0

-

-

-

-

-

Accounts and notes receivable, net

-16,935

-13,226

17,340

34,213

40,399

2,763

-174

-3,999

2,690

4,730

-6,074

-4,187

Inventories

163

434

305

-34

62

-706

-1,477

561

517

-394

1,879

-140

Prepaid expenses and other current assets

1,569

-6,824

3,488

3,276

5,409

2,976

4,626

1,360

7,580

-1,514

3,987

8,808

Advertising funds restricted assets and liabilities

-2,720

13,955

-12,230

5,572

-

-

-

-

-

-

-

-

Accounts payable

1,054

-145

-2,290

-6,635

-7,787

-3,105

-380

-9,266

11,364

-15,795

-53,474

6,135

Accrued expenses and other current liabilities

5,034

23,963

4,982

18,697

-8,424

-35,532

12,070

-42,906

11,120

-29,508

50,947

-37,511

Net cash (used in) provided by operating activities

288,933

224,228

238,793

193,825

274,314

254,776

329,847

190,415

246,717

226,250

298,798

73,605

Cash flows from investing activities:
Capital expenditures

74,453

69,857

81,710

150,023

251,622

298,471

224,245

197,590

146,763

147,969

101,914

106,989

Acquisitions

5,052

21,401

86,788

2,209

1,232

53,954

4,612

40,608

11,210

3,123

2,357

9,622

Dispositions

3,448

3,223

81,516

262,173

204,388

161,386

149,112

21,023

6,960

5,660

10,882

1,322

Proceeds from sale of investments

-24,496

-450,000

-4,111

-890

-621

2,193

2,691

-

-

-

-38,141

-51,066

Proceeds from sale of the Bakery

-

-

-

-

78,408

0

0

0

97,925

0

-

-

Changes in restricted cash

-

-

-

-

-3,634

-1,750

18,593

-

-

-

-

-

Notes receivable, net

-3,370

959

-9,000

-3,581

-3,289

-434

-

-

-

-

-

-

Payments to Acquire Interest in Subsidiaries and Affiliates

0

13

375

172

2,106

1,150

0

-

-

-

-

-

Franchise loans, Net

-

-

-

-

-

-

-

3,092

-4,003

0

-

-

Increase in cash from merger with Wendy's

-

-

-

-

-

-

-

-

-

-

0

199,785

Cost of merger with Wendy's

-

-

-

-

-

-

-

-

-

-

608

18,403

Other, net

-

-

-

-

-

-

-

3,251

265

-352

-237

228

Income on collection of DFR Notes

-

-

-

-

-

-

-

-

-

-

0

0

Other than temporary losses on investments

-

-

-

-

-

-

-

-

-

-

3,916

112,741

Proceeds from sales of investments

-

-

-

-

-

-

-

-

-

-

31,289

136,748

Decrease in restricted cash held for investment

-

-

-

-

-

-

-

-

-

-

26,681

17,724

Notes receivable, net

-

-

-

-

-

-

-43

3,000

-

-

0

0

Investment activities, net

-

-

-

-

-

-

21,691

27,949

-841

32,158

-

-

Net cash used in investing activities

-54,931

362,911

-92,246

107,078

35,380

-187,812

-76,690

-189,385

-58,197

-112,922

-55,619

116,931

Cash flows from financing activities:
Proceeds from long-term debt

850,000

934,837

31,130

0

2,294,000

0

575,000

1,113,750

0

497,661

607,507

37,753

Repayments of long-term debt

899,800

894,501

52,593

24,617

1,327,223

38,380

590,293

1,044,310

38,702

474,791

210,371

177,883

Repayments of finance lease liabilities

6,835

-

-

-

-

-

-

-

-

-

-

-

Repayments of finance lease liabilities

-

5,571

5,520

-

-

-

-

-

-

-

-

-

Change in restricted cash

-

-

-

-

-5,687

0

0

-

-

-

-

-

Deferred financing costs

14,008

17,340

1,424

1,983

43,817

0

7,684

15,566

57

16,353

38,399

0

Premium payment on redemption of notes

-

-

-

-

-

-

8,439

43,151

0

0

-

-

Proceeds from termination of interest rate swaps

-

-

-

-

-

-

-5,708

-

-

-

-

-

Repurchases of common stock

217,797

269,809

126,231

336,958

1,098,717

301,216

69,320

0

157,556

173,537

72,927

0

Dividends

96,364

80,532

68,322

63,832

71,845

75,117

70,681

39,043

32,366

27,621

27,976

30,538

Distribution to noncontrolling interests

-

-

-

-

-

-

-

3,667

0

0

156

1,144

Proceeds from stock option exercises

28,328

45,228

12,884

19,773

27,952

30,788

42,370

7,806

6,359

1,444

-

-

Payments related to tax withholding for share-based compensation

8,820

11,805

5,721

4,444

12,221

-

-

-

-

-

-

-

Contingent consideration payment

0

6,269

0

0

-

-

-

-

-

-

-

-

Excess tax benefits from share-based compensation

-

-

-

-

-

9,363

0

-

-

-

-

-

Other, net

-

-

-

-

-

-

438

52

-2,262

-953

1,715

-1,113

Net cash provided by (used in) financing activities

-365,296

-305,762

-215,797

-412,061

-237,558

-374,562

-122,901

-24,129

-224,584

-194,150

259,393

-172,925

Net cash provided by (used in) operations before effect of exchange rate changes on cash

-131,294

281,377

-69,250

-111,158

72,136

-307,598

130,256

-23,099

-36,064

-80,822

502,572

17,611

Effect of exchange rate changes on cash

3,489

-7,689

6,125

2,127

-12,196

-5,278

-3,465

1,229

-1,213

1,611

2,725

-4,123

Net increase (decrease) in cash, cash equivalents and restricted cash

-127,805

273,688

-63,125

-109,031

59,940

-312,876

126,791

-21,870

-37,277

-79,211

501,629

11,974

Detail of cash flows from operating activities:
Loss on disposal of Arbys

-

-

-

-

-

-

-

-442

-8,799

0

-

-

Loss on disposal of the Japan JV

-

-

-

-

-

-

-1,658

-

-

-

-

-

Gain on dispositions, net

-

-

-

-

-

-

49,714

-

-

-

-

-

Long-term debt-related activities, net:
Loss on early extinguishment of debt

-8,496

-11,475

0

0

-7,295

0

-28,563

-75,076

0

0

-

-

Accretion of long-term debt

1,272

1,255

1,237

1,220

1,204

1,187

5,942

7,973

8,120

15,016

10,400

2,452

Amortization of deferred financing costs

5,549

5,943

7,944

7,653

5,426

2,438

2,487

4,241

6,216

11,779

15,820

8,885

Payments for termination of cash flow hedges

-

-

-

-

7,337

0

0

-

-

-

-

-

Reclassification of unrealized losses on cash flow hedges

0

0

2,894

2,894

1,487

0

0

-

-

-

-

-

Operating activities from long-term debt, net

15,317

18,673

12,075

11,767

8,075

3,625

36,992

-

-

-

-

-

Dividend from Arbys

-

-

-

-

-

-

19,000

-

-

-

-

-

Investment activities, net

-

-

-

-

-

-

21,691

27,949

-841

32,158

38,141

51,066

Cost of securities

-

-

-

-

-

-

-

-

-

-

-19,829

-103,406

Supplemental cash flow information:
Cash paid for:
Interest

138,270

137,607

128,989

117,583

84,326

52,357

64,749

110,701

111,675

127,753

86,439

61,192

Income taxes, net of refunds

34,798

102,827

29,311

77,620

41,275

15,826

6,948

10,124

13,588

14,262

14,952

5,094

Supplemental non-cash investing and financing activities:
Capital expenditures included in accounts payable

6,026

6,460

5,810

11,325

31,468

45,409

41,713

22,109

23,767

14,985

-

-

Finance leases

50,061

-

-

-

-

-

-

-

-

-

-

-

Finance leases

-

6,569

276,971

104,119

57,226

22,255

10,767

16,280

2,341

5,775

-

-

Accrued debt issuance costs

-

-

-

512

0

0

-

-

-

-

-

-

Reconciliation of cash, cash equivalents and restricted cash at end of period:
Net cash (used in) provided by continuing operations

-

-

-

-

-

-

-

-

-

-

505,297

13,488

Net cash used in operating activities of discontinued operations

-

-

-

-

-

-

-

-

-

-

-3,668

-1,514

Notes receivable

-

-

-

-

-

3,934

0

-

-

-

-

-

Total capital expenditures

-

-

-

-

-

-

-

-

-

-

108,284

115,419

Capital expenditures

74,453

69,857

81,710

150,023

251,622

298,471

224,245

197,590

146,763

147,969

101,914

106,989

Non-cash capitalized lease obligations (1)

-

-

-

-

-

-

-

-

-

-

6,370

8,430

Indirect investment in Arbys

-

-

-

-

-

-

-

0

19,000

0

-

-

Cash capital expenditures

-

-

-

-

-

-

-

-

-

-

-101,914

-106,989

Non-cash capitalized lease and certain sales-leaseback obligations

-

-

-

-

-

-

-

-

-

-

6,370

8,430

Common stock

-

-

-

-

-

-

-

-

-

-

0

2,476,197

Stock options

-

-

-

-

-

-

-

-

-

-

0

18,296

Wendy's/Arby's Restaurants, LLC
Profit Loss

-

-

-

-

-

-

-

-

-

-

9,649

-365,086

Depreciation and amortization

-

-

-

-

-

-

-

-

-

-

188,506

85,058

Share Based Compensation

-

-

-

-

-

-

-

-

-

-

13,570

8,770

Net Recipt Of Deferred Vendor Incentive

-

-

-

-

-

-

-

-

-

-

-791

-6,459

Asset Impairment Charges

-

-

-

-

-

-

-

-

-

-

79,956

9,580

Tax Sharing Payments To Parent

-

-

-

-

-

-

-

-

-

-

-10,417

-17,000

Other Operating Transactions With Parent

-

-

-

-

-

-

-

-

-

-

14,114

5,263

Equity in earnings of joint venture

-

-

-

-

-

-

-

-

-

-

-8,499

-1,974

Deferred income tax benefit, net

-

-

-

-

-

-

-

-

-

-

-68,541

-62,723

Noncash Rent Expense Income

-

-

-

-

-

-

-

-

-

-

12,618

3,103

Goodwill impairment

-

-

-

-

-

-

-

-

-

-

0

460,075

Writeoff And Amortization Of Deferred Financing Costs

-

-

-

-

-

-

-

-

-

-

15,796

3,753

Distributions received from joint venture

-

-

-

-

-

-

-

-

-

-

14,583

2,864

Tax Sharing Net Payable To Parent

-

-

-

-

-

-

-

-

-

-

40,413

0

Provision For Doubtful Accounts

-

-

-

-

-

-

-

-

-

-

8,169

670

Adjustments Noncash Items To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities Other

-

-

-

-

-

-

-

-

-

-

5,553

4,352

Increase Decrease In Accounts And Notes Receivable

-

-

-

-

-

-

-

-

-

-

-7,679

-1,367

Increase Decrease In Inventories

-

-

-

-

-

-

-

-

-

-

1,879

-140

Increase Decrease In Prepaid Deferred Expense And Other Assets

-

-

-

-

-

-

-

-

-

-

1,121

19,800

Increase Decrease In Accounts Payable

-

-

-

-

-

-

-

-

-

-

-52,560

14,532

Increase Decrease In Other Accrued Liabilities

-

-

-

-

-

-

-

-

-

-

53,841

-64,558

Net cash provided by continuing operating activities

-

-

-

-

-

-

-

-

-

-

321,681

100,965

Capital expenditures

-

-

-

-

-

-

-

-

-

-

101,914

105,924

Cost of acquisitions, less cash acquired

-

-

-

-

-

-

-

-

-

-

2,357

9,622

Proceeds from dispositions

-

-

-

-

-

-

-

-

-

-

10,882

1,322

Increase In Cash From Merger

-

-

-

-

-

-

-

-

-

-

0

199,785

Other, net

-

-

-

-

-

-

-

-

-

-

-192

129

Net cash used in continuing investing activities

-

-

-

-

-

-

-

-

-

-

-93,197

85,432

Proceeds from long-term debt

-

-

-

-

-

-

-

-

-

-

607,507

17,753

Repayments of long-term debt

-

-

-

-

-

-

-

-

-

-

209,482

175,521

Deferred financing costs

-

-

-

-

-

-

-

-

-

-

38,399

0

Capital contributions from Wendy's/Arby's

-

-

-

-

-

-

-

-

-

-

0

150,177

Dividends/Advances to Wendy's/Arby's

-

-

-

-

-

-

-

-

-

-

115,000

155,000

Proceeds From Payments For Other Financing Activities

-

-

-

-

-

-

-

-

-

-

0

-659

Accretion Expense

-

-

-

-

-

-

-

-

-

-

10,400

2,452

Interest

-

-

-

-

-

-

-

-

-

-

84,085

60,446

Income taxes, net of refunds

-

-

-

-

-

-

-

-

-

-

9,529

3,130

Net cash (used in) provided by continuing financing activities

-

-

-

-

-

-

-

-

-

-

244,626

-163,250

Net Cash Provided By Used In Continuing Operations Before Effect Of Exchange Rate Changes On Cash

-

-

-

-

-

-

-

-

-

-

473,110

23,147

Effect of exchange rate changes on cash

-

-

-

-

-

-

-

-

-

-

2,725

-4,123

Net cash (used in) provided by continuing operations

-

-

-

-

-

-

-

-

-

-

475,835

19,024

Net cash used in operating activities of discontinued operations

-

-

-

-

-

-

-

-

-

-

-51

0

Net (decrease) increase in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

475,784

19,024

Total Capital Expenditures

-

-

-

-

-

-

-

-

-

-

108,284

114,354

Capital Expenditures Paid In Cash

-

-

-

-

-

-

-

-

-

-

-101,914

-105,924

Noncash Capitalized Lease And Certain Sales Leaseback Obligations

-

-

-

-

-

-

-

-

-

-

6,370

8,430

Common Stock Value Issued During Merger

-

-

-

-

-

-

-

-

-

-

0

2,476,197

Stock Options Value Issued During Merger

-

-

-

-

-

-

-

-

-

-

0

18,296

Operating Investment Adjustments, Net [Member]
Gain on Sale of Investments

-

-

-

-

-

-

-

27,769

0

0

-

-

Other net recognized gains

-

-

-

-

-

-

-

0

145

292

-

-

Investment Activities, Net [Member]
Proceeds from sale of investments

-

-

-

-

-

-

-

27,949

342

1,810

-

-

Proceeds from repayment of DFR Notes

-

-

-

-

-

-

-

0

0

30,752

-

-

Investment activities, net

-

-

-

-

-

-

-

27,949

-841

32,158

-

-

Cost of securities

-

-

-

-

-

-

-

0

0

404

-

-

Investment in joint venture

-

-

-

-

-

-

-

0

1,183

0

-

-