The wendy’s company (WEN)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jul'18Apr'18Dec'17Sep'17Jun'17Apr'17Jan'17Sep'16Jun'16Apr'16Jan'16Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Jan'12Sep'11Jun'11Mar'11Jan'11Sep'10Jul'10Mar'10
Cash flows from operating activities:
Net income

14,441

26,533

46,127

32,386

31,894

18,831

391,249

29,876

20,159

159,276

14,257

-1,845

22,341

28,891

48,890

26,480

25,363

85,856

7,584

40,195

27,507

23,294

22,830

29,007

46,303

32,659

-2,162

12,002

2,133

26,388

-26,162

-5,493

14,734

3,984

-3,966

11,266

-1,409

-10,758

-909

10,742

-3,400

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

31,046

33,718

33,306

31,484

33,185

34,230

29,070

33,427

32,152

33,997

31,216

31,309

29,165

30,248

29,362

31,404

33,290

35,024

39,909

41,919

36,880

41,595

36,274

39,495

42,496

61,295

47,454

39,088

52,382

42,117

42,499

36,606

32,952

32,217

30,816

39,144

43,125

44,724

46,178

44,944

46,326

Share-based compensation

4,539

4,687

3,981

4,986

5,022

3,517

4,810

5,133

4,458

4,572

4,984

7,813

3,559

3,881

4,335

4,844

5,081

4,447

6,542

7,174

5,068

3,035

10,050

4,574

10,584

8,049

4,604

3,950

3,010

3,143

3,166

2,567

2,597

3,932

7,096

3,419

3,241

-

-

-

3,519

System Optimization Remeasurement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,270

4,511

-

-

-

-

-

-

-

-

Asset Impairment Charges

4,587

5,315

0

198

1,486

2,541

347

1,603

206

2,293

1,041

253

510

3,250

361

5,525

7,105

11,533

1,513

10,018

1,937

8,389

8,618

77

2,529

31,058

5,327

0

0

-

-

-

-

-

0

208

9,612

-

27,409

2,414

11,601

Equity in earnings in joint venture

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,647

-2,630

-1,850

Deferred income tax

748

-4,687

2,102

2,580

842

-5,041

981

7,291

-9,799

-120,275

3,441

-1,558

-938

2,811

-6,671

-1,988

-8,365

53,658

15,638

10,421

9,309

9,943

11,742

15,235

32,620

-6,439

13,556

3,143

2,593

-11,789

-16,223

-9,359

5,773

-3,247

1,270

6,501

-2,900

-

-12,245

4,493

-8,546

Excess tax benefits from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

933

-

3,496

19,396

26,978

-2,616

-5,688

-477

18,144

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash rental expense, net

6,218

9,480

7,203

3,701

7,818

-6,175

-4,629

-3,000

-3,239

-3,474

-3,062

-2,558

-2,728

-2,405

-2,577

-599

-1,962

572

185

818

1,789

-4,288

3,711

802

1,726

1,646

1,976

2,374

2,156

4,276

2,060

-765

1,639

1,385

2,055

2,307

1,807

2,182

2,207

2,066

2,879

Change in operating lease liabilities

10,611

10,430

10,498

10,487

10,496

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net (recognition) receipt of deferred vendor incentives

-2,305

-2,770

-3,043

-2,721

8,033

-2,550

-2,215

-2,436

7,340

-2,646

-2,530

-2,525

9,602

-3,151

-4,120

21,040

-12,810

-5,961

-4,994

5,864

2,532

13,223

4,722

2,918

-16,800

8,413

1,038

-20,566

4,797

7,159

6,247

-12,544

58

-20,946

-5,888

-9,593

29,357

-9,509

-9,580

-11,391

31,067

Gain (Loss) on Disposition of Property Plant Equipment

323

121

1,040

110

12

455

486

92

-570

673

-106

-41,050

1,407

23,825

37,756

1,924

8,426

59,258

-98

15,694

-813

17,487

-340

1,440

72,992

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on disposal of the Bakery

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Gain (Loss) on Sale of Investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

27,407

-

0

0

0

-

-

-

-

Distributions received from joint ventures, net of equity in earnings

180

-

827

1,684

415

-

-

-

1,083

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Equity Method Investment, Distribution

-

-

-

-

-

-

-

-

-

6,189

0

3,085

2,439

2,975

2,665

3,097

2,689

3,253

3,373

3,447

2,378

3,868

3,585

3,279

3,164

3,968

4,122

3,325

2,701

4,514

4,066

3,441

3,253

4,158

4,283

3,388

3,113

4,262

3,925

2,825

2,968

Equity in earnings in joint ventures, net

-

-

-

-

-

-

-

-

-

1,460

2,327

1,940

1,846

1,856

2,220

2,376

1,899

2,237

2,423

2,503

2,042

2,517

2,787

2,716

2,156

2,742

2,909

2,880

1,191

888

2,922

2,780

2,134

1,648

2,717

2,737

2,363

-

-

-

-

Long-term debt-related activities, net

1,556

2,931

1,587

8,976

1,823

1,813

1,824

1,821

13,215

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities and other, net

69,445

-

-3,018

-19,362

17,989

-

-

-

-2,566

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other, net

-

-

-

-

-

-

-

-

-

-770

-1,273

1,876

1,420

-510

5,960

1,073

-2,804

-4,011

753

-3,864

2,804

6,133

-2,278

1,260

6,571

8,113

-3,601

-3,388

7,784

2,789

-4,135

-343

-1,404

-1,012

-2,062

1,251

-1,176

-6,093

-2,207

-1,200

1,236

Provision for doubtful accounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,010

976

2,600

Changes in operating assets and liabilities:
Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-46

-93

-42

-46

-3,504

27,190

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts and notes receivable, net

-

-

-

-

-

-

-

-

-

3,147

4,636

7,739

1,818

5,095

2,162

25,113

1,843

11,353

14,170

9,836

5,040

-3,311

-3,576

9,310

340

-1,817

-186

3,687

-1,858

-552

-6,562

3,041

74

-3,860

975

7,917

-2,342

11,701

45

-8,778

1,762

Inventories

-

-

-

-

-

-

-

-

-

261

-27

201

-130

92

22

283

-431

265

-35

723

-891

219

275

-44

-1,156

760

-697

-255

-1,285

1,526

-235

190

-920

307

-540

380

370

-2,218

1,208

-679

1,295

Prepaid expenses and other current assets

-

-

-

-

-

-

-

-

-

2,207

-835

788

1,328

-682

-680

973

3,665

-1,121

2,661

-1,772

5,641

-5,913

1,692

1,140

6,057

-1,336

3,573

2,537

-148

-2,859

-2,521

4,082

2,658

-558

-4,009

3,471

8,676

5,339

609

-2,162

-5,300

Advertising funds restricted assets and liabilities

-

-

-

-

-

-

-

-

-

3,593

-1,301

-18,175

3,653

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

-

-

-

-

-

-

-

-

-

-733

2,927

-1,999

-2,485

-223

-4,528

-2,738

854

-16,999

-1,452

6,621

4,043

242

352

-687

-3,012

2,335

-3,491

3,185

-2,409

-10,116

7,990

5,173

-12,313

1,999

-5,239

10,370

4,234

-6,822

5,033

-981

-13,025

Accrued expenses and other current liabilities

-

-

-

-

-

-

-

-

-

1,943

7,090

17,129

-21,180

13,020

-190

24,865

-18,998

6,238

14,446

-4,355

-24,753

5,083

1,786

-8,174

-34,227

1,625

32,173

444

-22,172

383

-18,385

16,750

-41,654

15,755

3,981

24,491

-33,107

5,130

-5,205

12,874

-42,307

Net cash (used in) provided by operating activities

-19,369

51,433

83,440

92,039

62,021

-5,434

81,241

79,710

68,711

78,478

54,554

63,641

42,120

56,510

31,519

58,522

47,274

155,685

65,515

31,374

21,740

72,180

101,587

66,268

14,741

77,156

109,327

110,760

32,604

65,784

56,101

83,674

-15,144

64,614

49,504

79,136

53,463

58,878

65,163

66,968

35,241

Cash flows from investing activities:
Capital expenditures

12,629

33,469

15,500

14,269

11,215

30,140

15,819

13,329

10,569

27,999

21,594

17,306

14,811

41,279

40,249

29,637

38,858

63,376

57,698

69,268

61,280

100,585

83,365

61,463

53,058

93,443

49,032

41,793

39,977

71,265

42,246

37,081

46,998

54,850

35,947

27,398

28,568

53,233

42,006

25,587

27,143

Acquisitions

0

0

0

0

5,052

0

21,401

0

0

-

-

-

-

0

0

0

2,209

0

0

0

1,232

48,005

3,614

2,335

0

-

-

-

-

14

18,815

19,185

2,594

4,597

0

3,713

2,900

-

-

-

0

Dispositions

195

1,410

798

1,240

0

360

1,049

1,463

351

1,458

2,078

76,330

1,650

88,324

128,771

3,893

41,185

158,031

7,660

32,414

6,283

41,494

3,688

7,747

108,457

105,057

28,044

13,907

2,104

14,750

5,366

151

756

-

-

-

-

-

-

-

-

Proceeds from sale of investments

0

-24,366

0

0

-130

0

-450,000

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-993

25,367

-

-

-

-

-

-

-

-

Changes in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,128

-5,995

-1,045

-3,150

0

-484

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Notes receivable, net

313

-1,536

-1,084

-998

248

1,242

255

334

-872

-4,826

-1,949

-471

-1,754

-5,863

-1,157

2,112

1,327

-658

-1,801

-981

151

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Payments to Acquire Interest in Subsidiaries and Affiliates

-

-

-

-

-

0

0

1

12

0

0

317

58

0

59

49

64

24

82

0

2,000

750

0

400

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Franchise loans, Net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

127

1,044

3,049

95

-1,096

-

-

-

-

-

-

-

-

Other, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,441

-1,116

-325

-

-2,349

-257

-151

2,877

-190

-908

1,472

385

27

153

-300

55

-340

2,891

-2,958

Net cash used in investing activities

-12,121

-9,229

-15,786

-14,027

-15,889

-28,538

414,084

-11,533

-11,102

-30,538

-21,465

-25,270

-14,973

44,621

84,612

-21,927

-228

98,972

-48,320

43,108

-58,380

-107,842

-82,109

-53,585

55,724

29,025

-39,552

-28,568

-37,595

-54,787

-52,456

-56,105

-26,037

-64,300

67,153

-29,882

-31,168

-55,224

-41,333

7,820

-24,185

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

153,315

0

0

850,000

0

0

4,028

2,642

928,167

8,455

16,316

1,848

4,511

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of long-term debt

14,334

16,236

5,688

872,063

5,813

5,812

7,056

11,239

870,394

9,627

24,704

7,592

10,670

5,939

6,027

5,955

6,696

6,054

19,114

1,292,611

9,444

9,397

9,497

9,586

9,900

231,929

945

350,913

6,506

299

441,188

596,469

6,354

2,091

1,843

4,557

30,211

3,849

4,580

456,146

10,216

Repayments of finance lease liabilities

1,967

1,657

1,657

1,640

1,881

-

-

-

1,353

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred financing costs

-

-

-

-

-

0

0

0

17,340

355

329

325

415

966

150

729

138

1,719

2,724

39,262

112

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchases of common stock

45,137

140,849

26,167

19,852

30,929

129,610

55,892

44,935

39,372

36,166

39,538

34,501

16,026

175,764

53,137

60,456

47,601

20,313

1,015,198

26,243

36,963

9,976

13,965

14

277,261

27,851

41,469

0

0

-

-

-

-

-

-

-

-

0

0

92,695

80,842

Dividends

26,793

27,084

23,087

23,124

23,069

19,746

20,141

20,290

20,355

16,858

17,017

17,174

17,273

16,039

15,641

15,938

16,214

16,431

15,225

19,990

20,199

20,105

18,364

18,342

18,306

19,616

19,625

15,737

15,703

15,637

7,809

7,802

7,795

7,782

7,834

8,376

8,374

8,361

6,271

6,336

6,653

Distribution to noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

3,667

0

0

0

0

-

-

-

-

Proceeds from stock option exercises

1,722

4,259

4,909

13,964

5,196

2,929

29,102

3,812

9,385

2,465

4,034

1,926

4,459

9,150

3,927

3,022

3,674

5,533

2,731

2,564

17,124

5,534

1,454

653

23,147

21,420

15,411

1,975

3,564

5,280

982

388

1,156

1,014

2,005

438

2,902

-

-

-

939

Payments related to tax withholding for share-based compensation

3,402

373

1,490

902

6,055

1,341

1,195

948

8,321

1,237

1,528

397

2,559

302

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contingent consideration payment

-

-

-

-

-

0

169

0

6,100

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

933

-

3,496

19,396

26,978

-2,616

-5,688

-477

18,144

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Other, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

52

-1,509

-634

-101

-18

-1,544

-90

658

23

Net cash provided by (used in) financing activities

63,404

-181,940

-53,180

-67,625

-62,551

-154,801

-55,673

-69,605

-25,683

-58,843

-62,766

-56,215

-37,973

-189,860

-72,106

-84,053

-66,042

-101,075

-1,032,721

918,854

-22,616

-36,560

-46,060

-27,766

-264,176

-37,564

-46,425

-20,267

-18,645

-10,711

13,331

-10,141

-16,608

-15,243

-123,608

-50,032

-35,701

-12,377

-12,852

-72,172

-96,749

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

31,914

-139,736

14,474

10,387

-16,419

-188,773

439,652

-1,428

31,926

-10,903

-29,677

-17,844

-10,826

-88,729

44,025

-47,458

-18,996

153,582

-1,015,526

993,336

-59,256

-72,222

-26,582

-15,083

-193,711

68,617

23,350

61,925

-23,636

286

16,976

17,428

-57,789

-14,929

-6,951

-778

-13,406

-8,723

10,978

2,616

-85,693

Effect of exchange rate changes on cash

-5,086

734

-1,111

1,982

1,884

-5,494

2,206

-1,919

-2,482

-785

3,643

2,485

782

-1,870

-1,421

715

4,703

-2,066

-6,341

1,369

-5,158

-2,948

-2,632

2,048

-1,746

-1,896

1,064

-1,592

-1,041

-517

1,516

-738

968

1,343

-3,756

241

959

717

1,156

-1,520

1,258

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

26,828

-139,002

13,363

12,369

-14,535

-194,267

441,858

-3,347

29,444

-11,688

-26,034

-15,359

-10,044

-90,599

42,604

-46,743

-14,293

151,516

-1,021,867

994,705

-64,414

-75,170

-29,214

-13,035

-195,457

66,721

24,414

60,333

-24,677

-231

18,492

16,690

-56,821

-13,586

-10,707

-537

-12,447

-8,006

12,134

1,096

-84,435

Detail of cash flows from operating activities:
Gain on dispositions, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

44,943

3,495

1,276

0

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of long-term debt

-

-

-

-

-

-

-

-

-

310

310

309

308

306

306

304

304

314

290

300

300

297

298

296

296

661

1,534

1,818

1,929

1,913

1,912

2,138

2,010

1,983

1,974

2,033

2,130

2,003

1,998

8,300

2,715

Amortization of deferred financing costs

-

-

-

-

-

-

-

-

-

1,990

1,980

1,974

2,000

1,985

1,899

1,900

1,869

2,010

1,827

974

615

620

625

627

566

594

486

645

762

764

759

1,357

1,361

1,353

1,354

1,358

2,151

1,388

1,545

7,145

1,701

Reclassification of unrealized losses on cash flow hedges

-

-

-

-

-

-

-

-

-

724

723

724

723

724

723

724

723

779

708

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating activities from long-term debt, net

1,556

2,931

1,587

8,976

1,823

1,813

1,824

1,821

13,215

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Supplemental cash flow information:
Cash paid for:
Interest

-

-

-

-

-

-

-

-

-

35,288

31,611

33,593

28,497

31,830

28,252

31,456

26,045

28,601

28,273

15,484

11,968

14,850

11,282

14,857

11,368

17,818

7,261

20,756

18,914

19,808

39,215

15,391

36,287

14,915

35,710

19,329

41,721

19,197

40,891

24,290

43,375

Income taxes, net of refunds

-

-

-

-

-

-

-

-

-

7,219

9,206

12,094

792

13,845

24,030

37,324

2,421

24,874

4,556

7,752

4,093

4,595

4,532

4,429

2,270

5,464

706

1,084

-306

531

1,322

1,948

6,323

2,065

4,505

4,134

2,884

2,749

668

4,783

6,062

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

9,579

-1,556

2,184

273

5,125

-3,128

2,125

997

6,466

-3,811

656

1,917

7,048

-8,783

2,880

3,381

13,847

5,498

-4,957

146

30,781

-13,220

19,356

14,121

25,152

-3,853

6,707

25,962

12,897

577

15,046

-1,491

7,977

-

-

-

-

-

-

-

-

Finance leases

9,274

15,977

10,550

9,724

13,810

-

-

-

1,101

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Finance leases

-

-

-

-

-

-

-

-

-

37,250

1,520

193,718

44,483

1,371

11,169

11,633

79,946

31,569

5,447

8,622

11,588

11,032

2,110

1,590

7,523

4,876

1,263

3,593

1,035

-37

1,356

14,771

190

-

-

-

-

-

-

-

-

Accrued debt issuance costs

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Reconciliation of cash, cash equivalents and restricted cash at end of period:
Capital expenditures

12,629

33,469

15,500

14,269

11,215

30,140

15,819

13,329

10,569

27,999

21,594

17,306

14,811

41,279

40,249

29,637

38,858

63,376

57,698

69,268

61,280

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

53,233

42,006

25,587

27,143