Historical Data
		Year Ended
	January 1,	January 2,	January 3,
	2021	2022	2023
Revenues:
Sales	$ 722,764	$ 734,074	$ 896,585
Franchise royalty revenue and fees	444,749	536,748	558,235
Franchise rental income	232,648	236,655	234,465
Advertising funds revenue	333,664	389,521	406,220
	1,733,825	1,896,998	2,095,505
Costs and expenses:
Cost of sales	614,907	611,680	773,169
Franchise support and other costs	26,464	42,900	46,736
Franchise rental expense	125,613	132,411	124,083
Advertising funds expense	345,360	411,751	430,760
General and administrative	206,876	242,970	254,979
Depreciation and amortization (exclusive of amortization
of cloud computing arrangements shown separately below)	132,775	125,540	133,414
Amortization of cloud computing arrangements	-	-	2,394
System optimization gains, net	(3,148)	(33,545)	(6,779)
Reorganization and realignment costs	16,030	8,548	698
Impairment of long-lived assets	8,037	2,251	6,420
Other operating income, net	(8,397)	(14,468)	(23,683)
	1,464,517	1,530,038	1,742,191
Operating profit	269,308	366,960	353,314
Interest expense, net	(117,737)	(109,185)	(122,319)
Loss on early extinguishment of debt	-	(17,917)	-
Investment income (loss), net	(225)	39	2,107
Other income, net	1,449	681	10,403
Income before income taxes	152,795	240,578	243,505
Provision for income taxes	(34,963)	(40,186)	(66,135)
Net income	$ 117,832	$ 200,392	$ 177,370
Net income per share:
Basic	$ 0.53	$ 0.91	$ 0.83
Diluted	0.52	0.89	0.82

	January 1,	January 2,
	2022	2023
ASSETS
Current assets:
Cash and cash equivalents	$ 249,438	$ 745,889
Restricted cash	27,535	35,203
Accounts and notes receivable, net	119,540	116,426
Inventories	5,934	7,129
Prepaid expenses and other current assets	30,584	26,963
Advertising funds restricted assets	159,818	126,673
Total current assets	592,849	1,058,283
Properties	906,867	895,778
Finance lease assets	244,279	234,570
Operating lease assets	812,620	754,498
Goodwill	775,278	773,088
Other intangible assets	1,280,791	1,248,800
Investments	49,870	46,028
Net investment in sales-type and direct financing leases	299,707	317,337
Other assets	139,130	170,962
Total assets	$ 5,101,391	$ 5,499,344
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt	$ 24,250	$ 29,250
Current portion of finance lease liabilities	15,513	18,316
Current portion of operating lease liabilities	47,315	48,120
Accounts payable	41,163	43,996
Accrued expenses and other current liabilities	140,783	116,010
Advertising funds restricted liabilities	157,901	132,307
Total current liabilities	426,925	387,999
Long-term debt	2,356,416	2,822,196
Long-term finance lease liabilities	559,587	571,877
Long-term operating lease liabilities	853,328	792,051
Deferred income taxes	267,710	270,421
Deferred franchise fees	88,102	90,231
Other liabilities	112,918	98,849
Total liabilities	4,664,986	5,033,624
Commitments and contingencies
Stockholders' equity:
Common stock, $0.10 par value; 1,500,000 shares authorized;
470,424 shares issued; 213,101 and 215,849 shares outstanding,
respectively	47,042	47,042
Additional paid-in capital	2,898,633	2,937,885
Retained earnings	344,198	414,749
Common stock held in treasury, at cost; 257,323 and 254,575
shares, respectively	(2,805,268)	(2,869,780)
Accumulated other comprehensive loss	(48,200)	(64,176)
Total stockholders' equity	436,405	465,720
Total liabilities and stockholders' equity	$ 5,101,391	$ 5,499,344

		Year Ended
	January 1,	January 2,	January 3,
	2021	2022	2023
Cash flows from operating activities:
Net income	$ 117,832	$ 200,392	$ 177,370
Adjustments to reconcile net income to net cash provided
by operating activities:
Depreciation and amortization (exclusive of amortization
of cloud computing arrangements shown separately below)	132,775	125,540	133,414
Amortization of cloud computing arrangements	-	-	2,394
Share-based compensation	18,930	22,019	24,538
Impairment of long-lived assets	8,037	2,251	6,420
Deferred income tax	10,266	(13,781)	4,305
Non-cash rental expense, net	28,937	40,596	33,915
Change in operating lease liabilities	(40,905)	(45,606)	(45,682)
Net (recognition) receipt of deferred vendor incentives	2,495	715	(1,060)
System optimization gains, net	(3,148)	(33,545)	(6,779)
Gain on sale of investments, net	-	(63)	-
Distributions received from TimWen joint venture	8,376	16,337	12,612
Equity in earnings in joint ventures, net	(6,096)	(11,203)	(9,422)
Long-term debt-related activities, net (see Note 21)	6,723	24,758	7,762
Cloud computing arrangements expenditures	-	(14,086)	(30,220)
Other, net	(6,438)	844	(4,554)
Changes in operating assets and liabilities:
Accounts and notes receivable, net	(16,243)	(5,613)	(5,857)
Inventories	(841)	(872)	(1,203)
Prepaid expenses and other current assets	(8,780)	(3,396)	6,769
Advertising funds restricted assets and liabilities	49,052	11,519	(30,503)
Accounts payable	1,620	7,586	(1,533)
Accrued expenses and other current liabilities	(18,231)	21,380	(12,782)
Net cash provided by operating activities	284,361	345,772	259,904
Cash flows from investing activities:
Capital expenditures	(68,969)	(77,984)	(85,544)
Franchise development fund	-	-	(3,605)
Acquisitions	(4,879)	(123,069)	-
Dispositions	6,091	55,118	8,237
Proceeds from sale of investments	169	63	-
Notes receivable, net	(662)	1,203	3,136
Payments for investments	-	(10,000)	-
Net cash used in investing activities	(68,250)	(154,669)	(77,776)
Cash flows from financing activities:
Proceeds from long-term debt	153,315	1,100,000	500,000
Repayments of long-term debt	(191,462)	(970,344)	(26,750)
Repayments of finance lease liabilities	(8,383)	(13,640)	(17,312)
Deferred financing costs	(2,122)	(20,873)	(10,232)
Repurchases of common stock, including accelerated share
repurchase	(62,173)	(268,531)	(51,950)
Dividends	(64,866)	(94,846)	(106,779)
Proceeds from stock option exercises	23,361	30,003	4,865
Payments related to tax withholding for share-based
compensation	(5,577)	(4,511)	(3,168)
Net cash provided by (used in) financing activities	(157,907)	(242,742)	288,674
Net cash provided by (used in) operations before effect
of exchange rate changes on cash	58,204	(51,639)	470,802
Effect of exchange rate changes on cash	1,330	364	(5,967)
Net increase (decrease) in cash, cash equivalents and
restricted cash	59,534	(51,275)	464,835
Cash, cash equivalents and restricted cash at beginning
of period	358,707	418,241	366,966
Cash, cash equivalents and restricted cash at end of
period	$ 418,241	$ 366,966	$ 831,801

Please Forecast for 5 years (2024, 2025, 2026 , 2027 and 2028)

Forecast Income statement , Balance sheet and Cash flow statement