Wendy's International (WEN)

Minority Interests in Income of Consolidated Subsidiaries

The minority interests in income of consolidated subsidiaries increased $5.8 million, reflecting $3.3 million due to the effect of the Deerfield Acquisition in July 2004, $2.3 million due to increased income of Deerfield and $0.2 million due to the participation of investors other than us in the Opportunities Fund.

Income From Discontinued Operations

The income from discontinued operations declined $9.1 million to $3.3 million for 2005 from $12.4 million for 2004. During 2004 we recorded an additional gain on disposal of $12.4 million relating to our former beverage businesses resulting from the release of income tax reserves which were no longer required upon finalization of the IRS Examination and the expiration of the statute of limitations for examinations of certain of our state income tax returns. During 2005 we recorded an additional gain on disposal of $3.3 million resulting from (1) the release of $2.8 million of reserves for state income taxes no longer required upon the expiration of the statute of limitations for examinations of certain of our state income tax returns and (2) a $0.5 million gain from a sale of a former refrigeration property that had been held for sale and reversal of a related reserve for potential environmental liabilities associated with the property that were assumed by the purchaser.

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Minority Interests in Income of Consolidated Subsidiaries

       The minority interests in income of consolidated subsidiaries increased $5.8 million, reflecting $3.3 million due to the effect of the Deerfield Acquisition in July 2004, $2.3 million due to increased income of Deerfield and $0.2 million due to the participation of investors other than us in the Opportunities Fund.

Gain on Disposal of Discontinued Operations

       The gain on disposal of discontinued operations declined $9.1 million to $3.3 million for 2005 from $12.4 million for 2004. During 2005 we recorded an additional gain of $3.3 million resulting from the release of $2.8 million of reserves for state income taxes no longer required upon the expiration of the statute of limitations for examinations of certain of our state income tax returns and a $0.5 million gain from the sale of a former refrigeration property that had been held for sale and the reversal of a related reserve for potential environmental liabilities associated with the property that were assumed by the purchaser. During 2004 we recorded an additional gain of $12.4 million on the disposal of our former beverage businesses resulting from the release of income tax reserves which were no longer required upon finalization of the IRS Examination and the expiration of the statute of limitations for examinations of certain of our state income tax returns.

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