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This excerpt taken from the WEN 10-K filed Mar 4, 2010. Nature of
operations
The
Company’s restaurant operations comprise two business segments: Arby’s
restaurants and Wendy’s restaurants subsequent to the Wendy’s Merger on
September 29, 2008. Prior to the Deerfield Sale, our business operations also
included an asset management segment that offered a diverse range of fixed
income and credit-related strategies to institutional investors, including
Deerfield Capital Corp. (“DFR”) to whom Deerfield was sold.
Principles
of Consolidation
The
accompanying consolidated financial statements have been prepared in accordance
with accounting principles generally accepted in the United States of America
(“GAAP”). As a result of the Wendy’s Merger, the consolidated financial
statements include the accounts of Wendy’s subsequent to the Closing
Date.
The
Company participates in three national advertising funds established to collect
and administer funds contributed for use in advertising and promotional programs
for Company-owned and franchised stores. The revenue, expenses and cash flows of
all such advertising funds are not included in the Company’s Consolidated
Statements of Operations or Consolidated Statements of Cash Flows because the
contributions to these advertising funds are designated for specific purposes,
and the Company acts as an, in substance, agent with regard to these
contributions. The assets and liabilities of these funds are reported as
“Advertising funds restricted assets” and “Advertising funds restricted
liabilities.”
All
intercompany balances and transactions have been eliminated in
consolidation.
The
preparation of consolidated financial statements in conformity with GAAP
requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosure of contingent assets and
liabilities at the date of the consolidated financial statements and the
reported amount of revenues and expenses during the reporting
period. Actual results could differ materially from those
estimates.
Fiscal
year
Our
fiscal reporting periods consist of 53 or 52 weeks ending on the Sunday closest
to December 31 and are referred to herein as (1) “the year ended January 3,
2010” or “2009”, which consisted of 53 weeks, (2) “the year ended December 28,
2008” or “2008” and (3) “the year ended December 31, 2007” or “2007” both of
which consisted of 52 weeks.
- 71
-
WENDY’S/ARBY’S
GROUP, INC. AND SUBSIDIARIES
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED
(In
Thousands Except Per Share Amounts)
This excerpt taken from the WEN 10-K filed Mar 1, 2007. Nature of Operations The Company operates in two business segments: restaurants and, effective with the acquisition of Deerfield on July 22, 2004, asset management. The restaurant segment is operated through franchised and Company-owned Arby’s® quick service restaurants specializing in slow-roasted roast beef sandwiches. Arby’s restaurants also offer an extensive menu of chicken, turkey and ham sandwiches, side dishes and salads. These include Arby’s Market Fresh® sandwiches, salads and wraps. Some of the Arby’s system-wide restaurants are multi-branded with the Company’s T.J. Cinnamons® product line. The franchised restaurants are principally located throughout the United States and, to a much lesser extent, Canada. The Company’s owned restaurants are located in 28 states, with the largest number in Michigan, Ohio, Indiana, Georgia, Florida and Pennsylvania. Information concerning the number of Arby’s franchised and Company-owned restaurants is as follows:
The asset management segment is comprised of an asset management company that offers a diverse range of fixed income and credit-related strategies to institutional investors principally from its domestic offices. It currently provides asset management services for CDOs and Funds, including the REIT, but may expand its services into other types of investments. This excerpt taken from the WEN 8-K filed Oct 19, 2006. Nature of Operations The Group operates solely in the restaurant business through its Arby’s® quick service restaurants specializing in slow-roasted roast beef sandwiches. Arby’s restaurants also offer an extensive menu of chicken, turkey and ham sandwiches, side dishes and salads including Arby’s Market Fresh® sandwiches. The Group’s restaurants are located in 22 states throughout the United States. Information concerning the number of the Group’s Arby’s restaurants is as follows:
This excerpt taken from the WEN 10-K filed Apr 3, 2006. Nature of Operations The Company operates in two business segments: restaurants and, effective with the acquisition of Deerfield on July 22, 2004, asset management. The restaurant segment is operated through franchised and Company-owned Arby's® quick service restaurants specializing in slow-roasted roast beef sandwiches. Arby's restaurants also offer an extensive menu of chicken, turkey and ham sandwiches, side dishes and salads. These include Arby's Market Fresh® sandwiches, salads and wraps. Some of the Arby's system-wide restaurants are multi-branded with the Company's T.J. Cinnamons® product line. The franchised restaurants are principally located throughout the United States and, to a much lesser extent, Canada. The Company's owned restaurants are located in 28 states, with the largest number in Michigan, Florida, Indiana, Georgia, Ohio and Pennsylvania. Information concerning the number of Arby's franchised and Company-owned restaurants is as follows:
The asset management segment is comprised of an asset management company that offers a diverse range of fixed income and credit-related strategies to institutional investors from its domestic offices. It currently provides asset management services for CDOs and Funds, including the REIT, but may expand its services into other types of investments. This excerpt taken from the WEN 8-K filed Aug 26, 2005. Nature of Operations The Group operates solely in the restaurant business through its Arby's® quick service restaurants specializing in slow-roasted roast beef sandwiches. Arby's restaurants also offer an extensive menu of chicken, turkey and ham sandwiches, side dishes and salads including Arby's Market Fresh® sandwiches. The Group's restaurants are located in 22 states throughout the United States. Information concerning the number of the Group's Arby's restaurants is as follows: 39
RTM RESTAURANT GROUP 3. Significant Risks and Uncertainties—(Continued) Open at beginning of year Openings and acquisitions Transfers Closings Open as of date indicated Weighted average number in operation | EXCERPTS ON THIS PAGE:
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