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WEN » Topics » Restricted Net Assets of Subsidiaries and Equity Method Investments

This excerpt taken from the WEN 10-K filed Mar 1, 2007.

Restricted Net Assets of Subsidiaries and Equity Method Investments

Restricted net assets of consolidated subsidiaries were $129,527,000, representing 27.3% of the Company’s consolidated stockholders’ equity as of December 31, 2006, and consisted of net assets of the Company’s restaurant business segment which were restricted as to transfer to Triarc in the form of cash dividends, loans or advances under the covenants of the Credit Agreement (see Note 11). In addition, the Company’s cumulative equity in undistributed earnings of Equity Method Investments, which relates entirely to Encore and which is not available to the Company unless declared as dividends or realized upon sale, net of related deferred income taxes, was $2,511,000 as of December 31, 2006.

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