WHAT IS THE DEBT TO TOTAL ASSETS FOR WENDYS FOR 2017 AND 2018
The Wendy's Company and Subsidiaries Condensed Consolidated Statements of Operations Three and Twelve Month Periods Ended December 30, 2018 and December 31, 2017 (In Thousands Exce pt Per Share Amounts) (Unaudited) Three Months Ended Twelve Months Ended 2018 2017 (a) 2017 (a) 2018 Revenues: Sales 165,261 $ 154,888 $ 651,577 $ 622,802 Franchise royalty revenue and fees 100,364 104,383 409,043 410,503 Franchise rental income 51,187 49,976 203,297 190,103 Advertising funds revenue 81,008 326,019 397,820 309,247 1,589,936 1,223,408 Costs and expenses: Cost of sales 138,867 129,180 548,588 517,935 Franchise support and other costs 6,650 5,203 25,203 16,325 Franchise rental expense 21,275 23,174 91,104 88,015 Advertising funds expense 76,855 321,866 General and administrative 71,425 50,504 217,489 203,593 Depreciation and amortization 34,230 33,997 128,879 125,687 System optimization (gains) losses, net (455) (673) (463) 39,076 Reorganization and realignment costs Impairment of long-lived assets 2,377 1,806 9,068 22,574 2,541 2,293 4,697 4,097 Other operating income, net (1,744) (2,824) (6,387) (8,652) 1,008,650 352,021 242,660 1,340,044 249,892 Operating profit Interest expense, net Loss on early extinguishment of debt 45,799 66,587 214,758 (30,172) (29,679) (119,618) (118,059) (11,475) Investment income, net 304 617 450,736 2,703 Other income, net 2,958 595 5,381 1,617 Income before income taxes 19,382 37,627 574,916 101,019 (Provision for) benefit from income taxes (551) 121,649 (114,801) 93,010 18,831 $ Net income 159,276 $ 460,115 $ 194,029 Net income per share Basic 08 $ 66 $ 1.93 $ 79 Diluted 08 64 1.88 77 Number of shares used to calculate basic income per share 234,574 241,497 237,797 244,179 Number of shares used to calculate diluted income per share 240,517 249,626 244,963 252,289 The Wendy's Company and Subsidiaries Condensed Consolidated Balance Sheets As of December 30, 2018 and December 31, 2017 (In Thousands Except Par Value) (Unaudited) December 30, 2018 December 31, 2017 ASSETS Current assets: Cash and cash equivalents 431,405 171,447 Restricted cash 29,860 32,633 Accounts and notes receivable, net Inventories 109,805 114,390 3,687 3,156 Prepaid expenses and other current assets 14,452 20,125 Advertising funds restricted assets 76,509 62,602 Total current assets 665,718 404,353 Properties 1,213,236 1,263,059 Goodwill 747,884 743,334 Other intangible assets 1,294,153 1,321,585 Investments 47,660 56,002 Net investment in direct financing leases 226,477 229,089 Other assets 96,907 79,516 Total assets $ 4,292,035 $ 4,096,938 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current portion of long-term debt 23,250 22,750 7,422 Current portion of capital lease obligations 8,405 Accounts payable 21,741 22,764 Accrued expenses and other current liabilities Advertising funds restricted liabilities 150,636 111,624 80,153 62,602 Total current liabilities 284,185 227,162 Long-term debt 2,305,552 2,263,688 447,231 Capital lease obligations, net of current portion 460,542 299,053 Deferred income taxes 269,160 Deferred franchise fees 92,232 10,881 Other liabilities 245,226 262,409 Total liabilities 3,643,586 3,523,735 Commitments and contingencies Stockholders' equity Common stock, $0.10 par value; 1,500,000 shares authorized; 470,424 shares issued; 231,233 and 240,512 shares outstanding, respectively Additional paid-in capital Retained earnings (accumulated deficit) 47,042 47,042 2,884,696 2,885,955 146,277 (163,289) Common stock held in treasury, at cost; 239,191 and 229,912 shares, respectively (2,367,893) (2,150,307) Accumulated other comprehensive loss (61,673) (46,198) Total stockholders' equity 648,449 573,203 Total liabilities and stockholders' equity 4,292,035 $ 4,096,938
