The Wendy's Company (WEN) 10-Q 5 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 28, 2020	Jul. 29, 2020
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 28, 2020
Document Transition Report	false
Entity File Number	1-2207
Entity Registrant Name	THE WENDY’S COMPANY
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	38-0471180
Entity Address, Address Line One	One Dave Thomas Blvd.
Entity Address, City or Town	Dublin,
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43017
City Area Code	614
Local Phone Number	764-3100
Title of 12(b) Security	Common Stock, $.10 par value
Trading Symbol	WEN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000030697
Current Fiscal Year End Date	--01-03
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		223,817,984

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) shares in Thousands, $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Current assets:
Cash and cash equivalents	$ 338,002	$ 300,195
Restricted cash	30,606	34,539
Accounts and notes receivable, net	134,519	117,461
Inventories	4,411	3,891
Prepaid expenses and other current assets	36,003	15,585
Advertising funds restricted assets	154,367	82,376
Total current assets	697,908	554,047
Properties	934,980	977,000
Finance lease assets	201,418	200,144
Operating lease assets	839,276	857,199
Goodwill	749,080	755,911
Other intangible assets	1,234,065	1,247,212
Investments	42,592	45,949
Net investment in sales-type and direct financing leases	258,798	256,606
Other assets	112,239	100,461
Total assets	5,070,356	4,994,529
Current liabilities:
Current portion of long-term debt	146,769	22,750
Current portion of finance lease liabilities	10,552	11,005
Current portion of operating lease liabilities	44,246	43,775
Accounts payable	20,597	22,701
Accrued expenses and other current liabilities	113,209	165,272
Advertising funds restricted liabilities	157,262	84,195
Total current liabilities	492,635	349,698
Long-term debt	2,238,705	2,257,561
Long-term finance lease liabilities	489,340	480,847
Long-term operating lease liabilities	880,745	897,737
Deferred income taxes	271,490	270,759
Deferred franchise fees	89,384	91,790
Other liabilities	124,074	129,778
Total liabilities	4,586,373	4,478,170
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.10 par value; 1,500,000 shares authorized; 470,424 shares issued; 223,749 and 224,889 shares outstanding, respectively	47,042	47,042
Additional paid-in capital	2,892,699	2,874,001
Retained earnings	187,086	185,725
Common stock held in treasury, at cost; 246,675 and 245,535 shares, respectively	(2,580,658)	(2,536,581)
Accumulated other comprehensive loss	(62,186)	(53,828)
Total stockholders’ equity	483,983	516,359
Total liabilities and stockholders’ equity	$ 5,070,356	$ 4,994,529
Common Stock, Par Value	$ 0.10	$ 0.10
Common Stock, Shares Authorized	1,500,000	1,500,000
Common Stock, Shares Issued	470,424	470,424
Common Stock, Shares, Outstanding	223,749	224,889
Treasury Stock, Shares	246,675	245,535

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Revenues
Franchise rental income	$ 56,857	$ 58,561	$ 114,713	$ 117,013
Revenues	402,306	435,348	807,266	843,931
Costs and expenses
Cost of sales	140,626	151,092	290,625	293,671
Franchise support and other costs	5,454	4,066	13,467	10,084
Franchise rental expense	31,297	28,027	60,598	60,478
Advertising funds expense	81,317	88,667	161,305	169,148
General and administrative	48,592	50,784	100,231	100,097
Depreciation and amortization	34,714	31,484	65,760	64,669
System optimization gains, net	(1,987)	(110)	(2,310)	(122)
Reorganization and realignment costs	2,911	3,570	6,821	4,368
Impairment of long-lived assets	117	198	4,704	1,684
Other operating income, net	(1,396)	(3,003)	(3,328)	(6,985)
Costs and expenses	341,645	354,775	697,873	697,092
Operating profit	60,661	80,573	109,393	146,839
Interest expense, net	(29,085)	(29,931)	(57,610)	(59,013)
Loss on early extinguishment of debt	0	(7,150)	0	(7,150)
Other (expense) income, net	(144)	2,247	932	4,947
Income before income taxes	31,432	45,739	52,715	85,623
Provision for income taxes	(6,528)	(13,353)	(13,370)	(21,343)
Net income	$ 24,904	$ 32,386	$ 39,345	$ 64,280
Earnings per share
Earnings Per Share, Basic	$ 0.11	$ 0.14	$ 0.18	$ 0.28
Earnings Per Share, Diluted	$ 0.11	$ 0.14	$ 0.17	$ 0.27
Sales
Revenues
Revenue from Contract with Customer, Excluding Assessed Tax	$ 164,217	$ 181,050	$ 331,015	$ 348,747
Franchise royalty revenue and fees
Revenues
Revenue from Contract with Customer, Excluding Assessed Tax	103,120	109,125	204,825	211,078
Advertising funds revenue
Revenues
Revenue from Contract with Customer, Excluding Assessed Tax	$ 78,112	$ 86,612	$ 156,713	$ 167,093

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Net income	$ 24,904	$ 32,386	$ 39,345	$ 64,280
Other comprehensive income (loss):
Foreign currency translation adjustment	4,149	3,835	(8,358)	9,860
Other comprehensive income (loss)	4,149	3,835	(8,358)	9,860
Comprehensive income	$ 29,053	$ 36,221	$ 30,987	$ 74,140

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity Statement - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Common Stock Held in Treasury	Accumulated Other Comprehensive Loss
Stockholders' Equity, beginning of period at Dec. 30, 2018	$ 648,449	$ 47,042	$ 2,884,696	$ 146,277	$ (2,367,893)	$ (61,673)
Increase (Decrease) in Stockholders' Equity
Net income	31,894	0	0	31,894	0	0
Other comprehensive income, net	6,025	0	0	0	0	6,025
Cash dividends	(23,069)	0	0	(23,069)	0	0
Repurchases of common stock	(29,370)	0	0	0	(29,370)	0
Share-based compensation	5,022	0	5,022	0	0	0
Common stock issued upon exercises of stock options	8,848	0	(205)	0	9,053	0
Common stock issued upon vesting of restricted shares	(6,055)	0	(8,874)	0	2,819	0
Cumulative effect of change in accounting principle	(1,105)	0	0	(1,105)	0	0
Other	55	0	24	(6)	37	0
Stockholders' Equity, end of period at Mar. 31, 2019	640,694	47,042	2,880,663	153,991	(2,385,354)	(55,648)
Stockholders' Equity, beginning of period at Dec. 30, 2018	648,449	47,042	2,884,696	146,277	(2,367,893)	(61,673)
Increase (Decrease) in Stockholders' Equity
Net income	64,280
Other comprehensive income, net	9,860
Stockholders' Equity, end of period at Jun. 30, 2019	648,048	47,042	2,883,484	163,249	(2,393,914)	(51,813)
Stockholders' Equity, beginning of period at Mar. 31, 2019	640,694	47,042	2,880,663	153,991	(2,385,354)	(55,648)
Increase (Decrease) in Stockholders' Equity
Net income	32,386	0	0	32,386	0	0
Other comprehensive income, net	3,835	0	0	0	0	3,835
Cash dividends	(23,124)	0	0	(23,124)	0	0
Repurchases of common stock	(20,391)	0	0	0	(20,391)	0
Share-based compensation	4,986	0	4,986	0	0	0
Common stock issued upon exercises of stock options	10,491	0	(339)	0	10,830	0
Common stock issued upon vesting of restricted shares	(888)	0	(1,852)	0	964	0
Other	59	0	26	(4)	37	0
Stockholders' Equity, end of period at Jun. 30, 2019	648,048	47,042	2,883,484	163,249	(2,393,914)	(51,813)
Stockholders' Equity, beginning of period at Dec. 29, 2019	516,359	47,042	2,874,001	185,725	(2,536,581)	(53,828)
Increase (Decrease) in Stockholders' Equity
Net income	14,441	0	0	14,441	0	0
Other comprehensive income, net	(12,507)	0	0	0	0	(12,507)
Cash dividends	(26,793)	0	0	(26,793)	0	0
Repurchases of common stock	(43,336)	0	15,000	0	(58,336)	0
Share-based compensation	4,539	0	4,539	0	0	0
Common stock issued upon exercises of stock options	1,610	0	280	0	1,330	0
Common stock issued upon vesting of restricted shares	(3,291)	0	(4,017)	0	726	0
Other	53	0	33	(7)	27	0
Stockholders' Equity, end of period at Mar. 29, 2020	451,075	47,042	2,889,836	173,366	(2,592,834)	(66,335)
Stockholders' Equity, beginning of period at Dec. 29, 2019	516,359	47,042	2,874,001	185,725	(2,536,581)	(53,828)
Increase (Decrease) in Stockholders' Equity
Net income	39,345
Other comprehensive income, net	(8,358)
Stockholders' Equity, end of period at Jun. 28, 2020	483,983	47,042	2,892,699	187,086	(2,580,658)	(62,186)
Stockholders' Equity, beginning of period at Mar. 29, 2020	451,075	47,042	2,889,836	173,366	(2,592,834)	(66,335)
Increase (Decrease) in Stockholders' Equity
Net income	24,904	0	0	24,904	0	0
Other comprehensive income, net	4,149	0	0	0	0	4,149
Cash dividends	(11,181)	0	0	(11,181)	0	0
Share-based compensation	4,787	0	4,787	0	0	0
Common stock issued upon exercises of stock options	10,459	0	(902)	0	11,361	0
Common stock issued upon vesting of restricted shares	(268)	0	(1,041)	0	773	0
Other	58	0	19	(3)	42	0
Stockholders' Equity, end of period at Jun. 28, 2020	$ 483,983	$ 47,042	$ 2,892,699	$ 187,086	$ (2,580,658)	$ (62,186)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income	$ 39,345	$ 64,280
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	65,760	64,669
Share-based compensation	9,326	10,008
Impairment of long-lived assets	4,704	1,684
Deferred income tax	1,920	3,422
Non-cash rental expense, net	12,251	11,519
Change in operating lease liabilities	(19,233)	(20,983)
Net receipt of deferred vendor incentives	7,728	5,312
System optimization gains, net	(2,310)	(122)
Distributions received from joint ventures, net of equity in earnings	1,262	2,099
Long-term debt-related activities, net	3,141	10,799
Changes in operating assets and liabilities and other, net	(93,332)	1,373
Net cash provided by operating activities	30,562	154,060
Cash flows from investing activities:
Capital expenditures	(29,402)	(25,484)
Acquisitions	0	(5,052)
Dispositions	4,320	1,240
Proceeds from sale of investments	0	130
Notes receivable, net	138	(750)
Net cash used in investing activities	(24,944)	(29,916)
Cash flows from financing activities:
Proceeds from long-term debt	153,315	850,000
Repayments of long-term debt	(24,271)	(877,876)
Repayments of finance lease liabilities	(3,707)	(3,521)
Deferred financing costs	(2,122)	(14,008)
Repurchases of common stock	(45,137)	(50,781)
Dividends	(37,974)	(46,193)
Proceeds from stock option exercises	11,865	19,160
Payments related to tax withholding for share-based compensation	(3,704)	(6,957)
Net cash provided by (used in) financing activities	48,265	(130,176)
Net cash provided by (used in) operations before effect of exchange rate changes on cash	53,883	(6,032)
Effect of exchange rate changes on cash	(3,132)	3,866
Net increase (decrease) in cash, cash equivalents and restricted cash	50,751	(2,166)
Cash, cash equivalents and restricted cash at beginning of period	358,707	486,512
Cash, cash equivalents and restricted cash at end of period	409,458	484,346
Supplemental non-cash investing and financing activities:
Capital expenditures included in accounts payable	6,082	5,398
Finance leases	12,962	23,534
Reconciliation of cash, cash equivalents and restricted cash at end of period:
Total cash, cash equivalents and restricted cash	$ 409,458	$ 484,346

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 28, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements (the “Financial Statements”) of The Wendy’s Company (“The Wendy’s Company” and, together with its subsidiaries, the “Company,” “we,” “us” or “our”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and, therefore, do not include all information and footnotes required by GAAP for complete financial statements. In our opinion, the Financial Statements contain all adjustments of a normal recurring nature necessary to present fairly our financial position as of June 28, 2020, the results of our operations for the three and six months ended June 28, 2020 and June 30, 2019 and cash flows for the six months ended June 28, 2020 and June 30, 2019. The Financial Statements should be read in conjunction with the audited consolidated financial statements for The Wendy’s Company and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended December 29, 2019 (the “Form 10-K”). The novel coronavirus (COVID-19) pandemic has disrupted and is expected to continue to disrupt our business, which has materially affected and could continue to materially affect our financial condition and results of operations for an extended period of time. As such, the results of operations for the three and six months ended June 28, 2020 are not necessarily indicative of the results to be expected for the full 2020 fiscal year. See Notes 3, 7, 9, 11 and 14 for further information regarding actions taken by the Company in response to the COVID-19 pandemic and certain impacts of the COVID-19 pandemic on our condensed consolidated financial statements. The principal 100% owned subsidiary of the Company is Wendy’s International, LLC and its subsidiaries (“Wendy’s”). The Company manages and internally reports its business in the following segments: (1) Wendy’s U.S., (2) Wendy’s International and (3) Global Real Estate & Development. Certain prior period financial information has been revised to align with this segment reporting structure. See Note 19 for further information. We report on a fiscal year consisting of 52 or 53 weeks ending on the Sunday closest to or on December 31. All three- and six-month periods presented herein contain 13 weeks and 26 weeks, respectively. All references to years and quarters relate to fiscal periods rather than calendar periods. Our significant interim accounting policies include the recognition of advertising funds expense in proportion to advertising funds revenue.

New Accounting Standards

New Accounting Standards	6 Months Ended
	Jun. 28, 2020
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Standards	New Accounting Standards New Accounting Standards Adopted Income Taxes In December 2019, the Financial Accounting Standards Board (“FASB”) issued new guidance to simplify the accounting for income taxes by removing certain exceptions to the general principles and the simplification of areas such as franchise taxes, transactions that result in a step-up in the tax basis of goodwill, separate entity financial statements and interim recognition of enactment of tax laws or tax rate changes. The Company early adopted this amendment during the first quarter of 2020. The adoption of this guidance did not have a material impact on our condensed consolidated financial statements. Fair Value Measurement In August 2018, the FASB issued new guidance on disclosure requirements for fair value measurements. The objective of the new guidance is to provide additional information about assets and liabilities measured at fair value in the statement of financial position or disclosed in the notes to financial statements. New incremental disclosure requirements include the amount of fair value hierarchy level 3 changes in unrealized gains and losses and the range and weighted average used to develop significant unobservable inputs for level 3 fair value measurements. The Company adopted this guidance during the first quarter of 2020. The adoption of this guidance did not have a material impact on our condensed consolidated financial statements. Goodwill Impairment In January 2017, the FASB issued new guidance that simplifies the accounting for goodwill impairment by eliminating step two from the goodwill impairment test. The Company adopted this amendment during the first quarter of 2020. The adoption of this guidance did not have a material impact on our condensed consolidated financial statements. Credit Losses In June 2016, the FASB issued an amendment that requires the Company to use a current expected credit loss model that results in the immediate recognition of an estimate of credit losses that are expected to occur over the life of the financial instruments that are within the scope of the guidance, including trade receivables. The Company adopted this amendment during the first quarter of 2020. The adoption of this guidance did not have a material impact on our condensed consolidated financial statements.

Revenue (Notes)

Revenue (Notes)	6 Months Ended
	Jun. 28, 2020
Revenue [Abstract]
Revenue from Contract with Customer	Revenue Disaggregation of Revenue The following tables disaggregate revenue by segment and source: Wendy’s U.S. Wendy’s International Global Real Estate & Development Total Three Months Ended June 28, 2020 Sales at Company-operated restaurants $ 164,217 $ — $ — $ 164,217 Franchise royalty revenue 88,121 9,070 — 97,191 Franchise fees 5,308 433 188 5,929 Franchise rental income — — 56,857 56,857 Advertising funds revenue 73,612 4,500 — 78,112 Total revenues $ 331,258 $ 14,003 $ 57,045 $ 402,306 Six Months Ended June 28, 2020 Sales at Company-operated restaurants $ 331,015 $ — $ — $ 331,015 Franchise royalty revenue 172,954 19,593 — 192,547 Franchise fees 10,593 906 779 12,278 Franchise rental income — — 114,713 114,713 Advertising funds revenue 147,737 8,976 — 156,713 Total revenues $ 662,299 $ 29,475 $ 115,492 $ 807,266 Three Months Ended June 30, 2019 Sales at Company-operated restaurants $ 181,050 $ — $ — $ 181,050 Franchise royalty revenue 91,430 11,391 — 102,821 Franchise fees 5,238 464 602 6,304 Franchise rental income — — 58,561 58,561 Advertising funds revenue 81,437 5,175 — 86,612 Total revenues $ 359,155 $ 17,030 $ 59,163 $ 435,348 Wendy’s U.S. Wendy’s International Global Real Estate & Development Total Six Months Ended June 30, 2019 Sales at Company-operated restaurants $ 348,747 $ — $ — $ 348,747 Franchise royalty revenue 175,808 21,856 — 197,664 Franchise fees 10,668 1,497 1,249 13,414 Franchise rental income — — 117,013 117,013 Advertising funds revenue 157,418 9,675 — 167,093 Total revenues $ 692,641 $ 33,028 $ 118,262 $ 843,931 Contract Balances The following table provides information about receivables and contract liabilities (deferred franchise fees) from contracts with customers: June 28, December 29, Receivables, which are included in “Accounts and notes receivable, net” (b) (c) $ 86,834 $ 39,188 Receivables, which are included in “Advertising funds restricted assets” (c) 83,891 54,394 Deferred franchise fees (d) 98,563 100,689 _______________ (a) Excludes funds collected from the sale of gift cards, which are primarily reimbursed to franchisees upon redemption at franchised restaurants and do not ultimately result in the recognition of revenue in the Company’s condensed consolidated statements of operations. (b) Includes receivables related to “Sales” and “Franchise royalty revenue and fees.” (c) The increase in receivables as of June 28, 2020 was primarily due to extending payment terms for royalties and national advertising funds contributions by 45 days beginning in April for a three month period in response to the COVID-19 pandemic. See Note 7 for further information. (d) Deferred franchise fees are included in “Accrued expenses and other current liabilities” and “Deferred franchise fees” and totaled $9,179 and $89,384 as of June 28, 2020, respectively, and $8,899 and $91,790 as of December 29, 2019, respectively. Significant changes in deferred franchise fees are as follows: Six Months Ended June 28, June 30, Deferred franchise fees at beginning of period $ 100,689 $ 102,205 Revenue recognized during the period (3,898) (4,609) New deferrals due to cash received and other 1,772 3,671 Deferred franchise fees at end of period $ 98,563 $ 101,267 Anticipated Future Recognition of Deferred Franchise Fees The following table reflects the estimated franchise fees to be recognized in the future related to performance obligations that are unsatisfied at the end of the period: Estimate for fiscal year: 2020 (a) $ 6,091 2021 6,195 2022 5,991 2023 5,819 2024 5,616 Thereafter 68,851 $ 98,563 _______________ (a) Represents franchise fees expected to be recognized for the remainder of 2020, which includes development-related franchise fees expected to be recognized over a duration of one year or less.

Acquisitions (Notes)

Acquisitions (Notes)	6 Months Ended
	Jun. 28, 2020
Business Combinations [Abstract]
Acquisitions	Acquisitions No restaurants were acquired from franchisees during the six months ended June 28, 2020. During the six months ended June 30, 2019, the Company acquired five restaurants from franchisees for total net cash consideration of $5,052. The Company did not incur any material acquisition-related costs associated with the acquisitions during the six months ended June 30, 2019 and such transactions were not significant to our condensed consolidated financial statements. The table below presents the allocation of the total purchase price to the fair value of assets acquired and liabilities assumed for restaurants acquired from franchisees: Six Months Ended June 30, Restaurants acquired from franchisees 5 Total consideration paid, net of cash received $ 5,052 Identifiable assets acquired and liabilities assumed: Properties 666 Acquired franchise rights 1,354 Finance lease assets 5,350 Finance lease liabilities (4,084) Other (2,316) Total identifiable net assets 970 Goodwill $ 4,082 During 2018, the Company acquired 16 restaurants from a franchisee for total net cash consideration of $21,401. The fair values of the identifiable intangible assets related to the acquisition were provisional amounts as of December 30, 2018, pending final purchase accounting adjustments. The Company finalized the purchase price allocation during the three months ended March 31, 2019, which resulted in a decrease in the fair value of acquired franchise rights of $2,989 and an increase in deferred tax assets of $140.

System Optimization Gains, Net

System Optimization Gains, Net	6 Months Ended
	Jun. 28, 2020
Property, Plant and Equipment [Abstract]
System Optimization Gains, Net	System Optimization Gains, Net The Company’s system optimization initiative includes a shift from Company-operated restaurants to franchised restaurants over time, through acquisitions and dispositions, as well as facilitating franchisee-to-franchisee restaurant transfers (“Franchise Flips”). As of January 1, 2017, the Company completed its plan to reduce its ongoing Company-operated restaurant ownership to approximately 5% of the total system. While the Company has no plans to reduce its ownership below the approximately 5% level, the Company expects to continue to optimize the Wendy’s system through Franchise Flips, as well as evaluating strategic acquisitions of franchised restaurants and strategic dispositions of Company-operated restaurants to existing and new franchisees, to further strengthen the franchisee base, drive new restaurant development and accelerate reimages. During the six months ended June 28, 2020, the Company facilitated three Franchise Flips. No Franchise Flips were facilitated by the Company during the six months ended June 30, 2019. The Company expects to sell 43 Company-operated restaurants in New York to franchisees in the first quarter of 2021. The Company expects to retain its Company-operated restaurants in Manhattan. Gains and losses recognized on dispositions are recorded to “System optimization gains, net” in our condensed consolidated statements of operations. Costs related to acquisitions and dispositions under our system optimization initiative are recorded to “Reorganization and realignment costs,” which are further described in Note 6. All other costs incurred related to facilitating Franchise Flips are recorded to “Franchise support and other costs.” The following is a summary of the disposition activity recorded as a result of our system optimization initiative: Three Months Ended Six Months Ended June 28, June 30, June 28, June 30, Post-closing adjustments on sales of restaurants (a) $ — $ 62 $ 345 $ 54 Gain on sales of other assets, net (b) 1,987 48 1,965 68 System optimization gains, net $ 1,987 $ 110 $ 2,310 $ 122 _______________ (a) The six months ended June 28, 2020 represents the recognition of deferred gains as a result of the resolution of certain contingencies related to the extension of lease terms for restaurants previously sold to franchisees. (b) During the three and six months ended June 28, 2020, the Company received cash proceeds of $4,125 and $4,320, respectively, primarily from the sale of surplus and other properties. During the three and six months ended June 30, 2019, the Company received cash proceeds of $1,240, primarily from the sale of surplus properties. Assets Held for Sale June 28, December 29, Number of restaurants classified as held for sale 43 — Net restaurant assets held for sale (a) $ 20,468 $ — Other assets held for sale (b) $ 2,317 $ 1,437 _______________ (a) Net restaurant assets held for sale include the New York Company-operated restaurants we expect to sell in the first quarter of 2021 and consist primarily of cash, inventory, property and an estimate of allocable goodwill. (b) Other assets held for sale primarily consist of surplus properties.

Reorganization and Realignment

Reorganization and Realignment Costs	6 Months Ended
	Jun. 28, 2020
Restructuring and Related Activities [Abstract]
Realignment and Reorganization Costs	Reorganization and Realignment Costs The following is a summary of the initiatives included in “Reorganization and realignment costs:” Three Months Ended Six Months Ended June 28, June 30, June 28, June 30, IT realignment $ 2,847 $ — $ 6,406 $ — G&A realignment 64 3,517 331 4,299 System optimization initiative — 53 84 69 Reorganization and realignment costs $ 2,911 $ 3,570 $ 6,821 $ 4,368 Information Technology ( “ IT ”) Realignment In December 2019, our Board of Directors approved a plan to realign and reinvest resources in the Company’s IT organization to strengthen its ability to accelerate growth. The Company is partnering with a third-party global IT consultant on this new structure to leverage their global capabilities, which the Company believes will enable a more seamless integration between its digital and corporate IT assets. The Company expects that the realignment plan will reduce certain employee compensation and other related costs that the Company intends to reinvest back into IT to drive additional capabilities and capacity across all of its technology platforms. Additionally, in June 2020, the Company made changes to its leadership structure that included the creation of a Chief Information Officer position and the elimination of the Chief Digital Experience Officer position. As a result, the Company now expects to incur total costs aggregating approximately $16,000 to $17,000 related to the plan. During the six months ended June 28, 2020, the Company recognized costs totaling $6,406, which primarily included third-party and other costs and severance and related employee costs. The Company expects to incur additional costs aggregating approximately $1,000, comprised primarily of recruitment and relocation costs. The Company expects to recognize the majority of the remaining costs associated with the plan during the remainder of 2020. The following is a summary of the activity recorded as a result of the IT realignment plan: Three Months Ended Six Months Ended Total June 28, June 28, Severance and related employee costs $ 830 $ 975 $ 8,523 Recruitment and relocation costs 143 314 314 Third-party and other costs 1,874 5,117 6,503 2,847 6,406 15,340 Share-based compensation (a) — — 193 Total IT realignment $ 2,847 $ 6,406 $ 15,533 _______________ (a) Primarily represents incremental share-based compensation resulting from the modification of stock options in connection with the termination of employees under our IT realignment plan. The table below presents a rollforward of our accruals for the IT realignment plan, which are included in “Accrued expenses and other current liabilities” and “Other liabilities” and totaled $4,039 and $371 as of June 28, 2020, respectively. Balance Charges Payments Balance Severance and related employee costs $ 7,548 $ 975 $ (4,113) $ 4,410 Recruitment and relocation costs — 314 (314) — Third-party and other costs 1,076 5,117 (6,193) — $ 8,624 $ 6,406 $ (10,620) $ 4,410 General and Administrative ( “ G&A ”) Realignment In May 2017, the Company initiated a plan to further reduce its G&A expenses. Additionally, in May 2019, the Company announced changes to its management and operating structure that included the creation of two new positions, a President, U.S and Chief Commercial Officer and a President, International and Chief Development Officer, and the elimination of the Chief Operations Officer position. During the six months ended June 28, 2020 and June 30, 2019, the Company recognized costs related to the plan totaling $331 and $4,299, respectively, which primarily included severance and related employee costs and share-based compensation. The Company does not expect to incur any additional material costs under the plan. The following is a summary of the activity recorded as a result of the G&A realignment plan: Three Months Ended Six Months Ended Total June 28, June 30, June 28, June 30, Severance and related employee costs (a) $ (6) $ 2,130 $ 146 $ 2,602 $ 24,384 Recruitment and relocation costs — 482 15 596 2,531 Third-party and other costs — 71 1 87 2,211 (6) 2,683 162 3,285 29,126 Share-based compensation (b) 70 834 169 1,014 8,067 Termination of defined benefit plans — — — — 1,335 Total G&A realignment $ 64 $ 3,517 $ 331 $ 4,299 $ 38,528 _______________ (a) The three and six months ended June 28, 2020 includes a reversal of an accrual as a result of a change in estimate. (b) Primarily represents incremental share-based compensation resulting from the modification of stock options in connection with the termination of employees under our G&A realignment plan. The accruals for our G&A realignment plan are included in “Accrued expenses and other current liabilities” and “Other liabilities” and totaled $2,705 and $108 as of June 28, 2020, respectively, and $4,835 and $607 as of June 30, 2019, respectively. The tables below present a rollforward of our accruals for the plan. Balance Charges Payments Balance Severance and related employee costs $ 5,276 $ 146 $ (2,671) $ 2,751 Recruitment and relocation costs 83 15 (36) 62 Third-party and other costs — 1 (1) — $ 5,359 $ 162 $ (2,708) $ 2,813 Balance Charges Payments Balance Severance and related employee costs $ 7,241 $ 2,602 $ (4,724) $ 5,119 Recruitment and relocation costs 83 596 (356) 323 Third-party and other costs — 87 (87) — $ 7,324 $ 3,285 $ (5,167) $ 5,442 System Optimization Initiative The Company recognizes costs related to acquisitions and dispositions under its system optimization initiative. The Company has incurred costs of $72,365 under the initiative since inception and does not expect to incur any material additional costs under the plan.

Cash and Receivables (Notes)

Cash and Receivables (Notes)	6 Months Ended
	Jun. 28, 2020
Cash and Receivables [Abstract]
Cash and Receivables Disclosure [Text Block]	Cash and Receivables June 28, December 29, 2019 Cash and cash equivalents Cash $ 202,939 $ 185,203 Cash equivalents 135,063 114,992 338,002 300,195 Restricted cash Accounts held by trustee for the securitized financing facility 30,274 34,209 Other 332 330 30,606 34,539 Advertising Funds (a) 40,850 23,973 71,456 58,512 Total cash, cash equivalents and restricted cash $ 409,458 $ 358,707 _______________ (a) Included in “Advertising funds restricted assets.” June 28, 2020 December 29, 2019 Gross Allowance for Doubtful Accounts Net Gross Allowance for Doubtful Accounts Net Accounts and Notes Receivable, Net Current Accounts receivable (a) (b) $ 125,021 $ (4,404) $ 120,617 $ 103,852 $ (3,314) $ 100,538 Notes receivable from franchisees (c) (d) 18,572 (4,670) 13,902 23,628 (6,705) 16,923 $ 143,593 $ (9,074) $ 134,519 $ 127,480 $ (10,019) $ 117,461 Non-current (e) Notes receivable from franchisees (d) $ 6,425 $ (835) $ 5,590 $ 1,617 $ — $ 1,617 _______________ (a) Includes income tax refund receivables of $5,933 and $13,555 as of June 28, 2020 and December 29, 2019, respectively. Additionally, 2019 includes receivables of $25,350 related to insurance coverage for the financial institutions class action. (b) During the six months ended June 28, 2020, royalty receivables increased by $47,740 and rent receivables increased by $6,111. These increases were primarily due to actions taken by the Company in response to the COVID-19 pandemic, which included (1) extending payment terms for royalties by 45 days beginning in April for a three month period and (2) offering to defer base rent payments on properties owned by Wendy’s and leased to franchisees by 50%, and offering to pass along any deferrals that were obtained on properties leased by Wendy’s and subleased to franchisees by up to 100%, beginning in May for a three month period, which will be repaid over 12 months beginning in August. (c) Includes the current portion of sales-type and direct financing lease receivables of $3,780 and $3,146 as of June 28, 2020 and December 29, 2019, respectively. Included a note receivable from a U.S. franchisee totaling $1,000 as of December 29, 2019. The note was repaid during the six months ended June 28, 2020. (d) Includes a note receivable from a franchisee in India, of which $150 and $1,000 are included in current notes receivable as of June 28, 2020 and December 29, 2019, respectively, and $1,010 is included in non-current notes receivable as of June 28, 2020. As of June 28, 2020 and December 29, 2019, the Company had a reserve of $985 on the loan outstanding to the franchisee in India. Includes a note receivable from a franchisee in Indonesia, of which $1,367 and $1,262 are included in current notes receivable and $1,065 and $1,617 are included in non-current notes receivable as of June 28, 2020 and December 29, 2019, respectively. Includes notes receivable related to a joint venture for the operation of Wendy’s restaurants in Brazil (the “Brazil JV”), of which $11,975 and $15,920 are included in current notes receivable as of June 28, 2020 and December 29, 2019, respectively, and $4,350 is included in non-current notes receivable as of June 28, 2020. As of June 28, 2020 and December 29, 2019, the Company had reserves of $4,520 and $5,720, respectively, on the loans outstanding related to the Brazil JV. (e) Included in “Other assets.” Reserve estimates include consideration of the likelihood of default expected over the estimated life of the receivable. The Company periodically assesses the need for an allowance for doubtful accounts on its receivables based upon several key credit quality indicators such as outstanding past due balances, the financial strength of the obligor, the estimated fair value of any underlying collateral and agreement characteristics. We believe that our vulnerability to risk concentrations in our receivables is mitigated by (1) favorable historical collectability on past due balances, (2) recourse to the underlying collateral regarding sales-type and direct financing lease receivables, and (3) our expectations for fluctuations in general market conditions. Receivables are considered delinquent once they are contractually past due under the terms of the underlying agreements. As of June 28, 2020, there were no material receivables more than one year past due. The following is an analysis of the allowance for doubtful accounts: Accounts Receivable Notes Receivable Total Six Months Ended June 28, 2020 Balance at December 29, 2019 $ 3,314 $ 6,705 $ 10,019 Provision for doubtful accounts 1,156 (8) 1,148 Uncollectible accounts written off, net of recoveries (66) (1,192) (1,258) Balance at June 28, 2020 $ 4,404 $ 5,505 $ 9,909 Six Months Ended June 30, 2019 Balance at December 30, 2018 $ 4,940 $ 2,000 $ 6,940 Provision for doubtful accounts (754) 1,843 1,089 Uncollectible accounts written off, net of recoveries (139) 7 (132) Balance at June 30, 2019 $ 4,047 $ 3,850 $ 7,897

Investments

Investments	6 Months Ended
	Jun. 28, 2020
Equity Method Investments and Joint Ventures [Abstract]
Investments	(8) Investments Equity Investments Wendy’s has a 50% share in a partnership in a Canadian restaurant real estate joint venture (“TimWen”) with a subsidiary of Restaurant Brands International Inc., a quick-service restaurant company that owns the Tim Hortons ® brand. (Tim Hortons is a registered trademark of Tim Hortons USA Inc.) In addition, a wholly-owned subsidiary of Wendy’s has a 20% share in the Brazil JV. The Company has significant influence over these investees. Such investments are accounted for using the equity method of accounting, under which our results of operations include our share of the income (loss) of the investees in “Other operating income, net.” Presented below is activity related to our investment in TimWen and the Brazil JV included in our condensed consolidated financial statements: Six Months Ended June 28, June 30, Balance at beginning of period $ 45,310 $ 47,021 Equity in earnings for the period 3,455 6,048 Amortization of purchase price adjustments (a) (1,105) (1,129) 2,350 4,919 Distributions received (3,612) (7,018) Foreign currency translation adjustment included in “Other comprehensive income (loss)” and other (1,631) 2,359 Balance at end of period $ 42,417 $ 47,281 _______________ (a) Purchase price adjustments that impacted the carrying value of the Company’s investment in TimWen are being amortized over the average original aggregate life of 21 years.

Long-Term Debt (Notes)

Long-Term Debt (Notes)	6 Months Ended
	Jun. 28, 2020
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consisted of the following: June 28, December 29, Series 2019-1 Class A-2 Notes: 3.783% Series 2019-1 Class A-2-I Notes, anticipated repayment date 2026 $ 392,000 $ 398,000 4.080% Series 2019-1 Class A-2-II Notes, anticipated repayment date 2029 441,000 447,750 Series 2018-1 Class A-2 Notes: 3.573% Series 2018-1 Class A-2-I Notes, anticipated repayment date 2025 438,750 441,000 3.884% Series 2018-1 Class A-2-II Notes, anticipated repayment date 2028 463,125 465,500 Series 2015-1 Class A-2 Notes: 4.497% Series 2015-1 Class A-2-III Notes, anticipated repayment date 2025 476,250 478,750 Series 2019-1 Class A-1 Variable Funding Senior Secured Notes 120,000 — Canadian revolving credit facility 4,019 — 7% debentures, due in 2025 83,415 82,837 Unamortized debt issuance costs (33,085) (33,526) 2,385,474 2,280,311 Less amounts payable within one year (146,769) (22,750) Total long-term debt $ 2,238,705 $ 2,257,561 Senior Notes Wendy’s Funding, LLC, a limited-purpose, bankruptcy-remote, wholly-owned indirect subsidiary of The Wendy’s Company, is the master issuer (the “Master Issuer”) of outstanding senior secured notes under a securitized financing facility that was entered into in June 2015. Under this facility, in June 2019, the Master Issuer also issued outstanding Series 2019-1 Variable Funding Senior Secured Notes, Class A-1 (the “2019-1 Class A-1 Notes”), which allow for the borrowing of up to $150,000 from time to time on a revolving basis using various credit instruments, including a letter of credit facility. In March 2020, the Company drew down $120,000 under the 2019-1 Class A-1 Notes. As a result, as of June 28, 2020, the Company had outstanding borrowings of $120,000 under the 2019-1 Class A-1 Notes. Subsequent to June 28, 2020, the Company repaid the $120,000 outstanding balance under the 2019-1 Class A-1 Notes. In June 2020, the Master Issuer also issued outstanding Series 2020-1 Variable Funding Senior Secured Notes, Class A-1 (the “2020-1 Class A-1 Notes”), which allow for the borrowing of up to $100,000 from time to time on a revolving basis using various credit instruments. The Company had no outstanding borrowings under the Series 2020-1 Class A-1 Notes as of June 28, 2020. The borrowing under the 2019-1 Class A-1 Notes in March 2020 and the issuance of the 2020-1 Class A-1 Notes in June 2020 were taken as precautionary measures to provide enhanced financial flexibility considering the uncertain market conditions arising from the COVID-19 pandemic. The 2019-1 Class A-1 Notes and the 2020-1 Class A-1 Notes (collectively, the “Class A-1 Notes”) accrue interest at a variable interest rate based on (i) the prime rate, (ii) overnight federal funds rates, (iii) the London interbank offered rate (“LIBOR”) for U.S. Dollars or (iv) with respect to advances made by conduit investors, the weighted average cost of, or related to, the issuance of commercial paper allocated to fund or maintain such advances, in each case plus any applicable margin and as specified in the respective purchase agreements for the Class A-1 Notes. There is a commitment fee on the unused portions of the Class A-1 Notes, which ranges from 0.40% to 0.75% based on utilization for the 2019-1 Class A-1 Notes, and is 1.50% for the 2020-1 Class A-1 Notes. As of June 28, 2020, $26,040 of letters of credit were outstanding against the 2019-1 Class A-1 Notes, which relate primarily to interest reserves required under the indenture governing the 2019-1 Class A-1 Notes. During the three and six months ended June 28, 2020, the Company incurred debt issuance costs of $2,122 in connection with the issuance of the 2020-1 Class A-1 Notes. The debt issuance costs are being amortized to “Interest expense, net” utilizing the effective interest rate method. Other Long-Term Debt A Canadian subsidiary of Wendy’s has a revolving credit facility of C$6,000, which bears interest at the Bank of Montreal Prime Rate. The debt is guaranteed by Wendy’s. In March 2020, the Company drew down C$5,500 under the revolving credit facility. As a result, as of June 28, 2020, the Company had outstanding borrowings of C$5,500 under the revolving credit facility. Wendy’s U.S. advertising fund has a revolving line of credit of $25,000, which was established to support the advertising fund operations and bears interest at LIBOR plus 2.75%. In February 2020, the Company drew down $4,397 under the revolving line of credit, which the Company repaid in February 2020. In March 2020, the Company drew down $25,000 under the revolving line of credit. As a result, as of June 28, 2020, the Company had outstanding borrowings of $25,000 under the revolving line of credit, which is included in “Advertising funds restricted liabilities.” Subsequent to June 28, 2020, the Company renewed the revolving line of credit, which is now guaranteed by Wendy’s. The increased borrowings were taken as precautionary measures to provide enhanced financial flexibility considering the uncertain market conditions arising from the COVID-19 pandemic.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 28, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Valuation techniques under the accounting guidance related to fair value measurements are based on observable and unobservable inputs. Observable inputs reflect readily obtainable data from independent sources, while unobservable inputs reflect our market assumptions. These inputs are classified into the following hierarchy: • Level 1 Inputs - Quoted prices for identical assets or liabilities in active markets. • Level 2 Inputs - Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. • Level 3 Inputs - Pricing inputs are unobservable for the assets or liabilities and include situations where there is little, if any, market activity for the assets or liabilities. The inputs into the determination of fair value require significant management judgment or estimation. Financial Instruments The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments: June 28, December 29, Carrying Fair Carrying Fair Fair Value Financial assets Cash equivalents $ 135,063 $ 135,063 $ 114,992 $ 114,992 Level 1 Other investments in equity securities (a) 175 175 639 1,649 Level 3 Financial liabilities Series 2019-1 Class A-2-I Notes (b) 392,000 410,071 398,000 405,152 Level 2 Series 2019-1 Class A-2-II Notes (b) 441,000 468,518 447,750 459,136 Level 2 Series 2018-1 Class A-2-I Notes (b) 438,750 451,298 441,000 444,859 Level 2 Series 2018-1 Class A-2-II Notes (b) 463,125 487,624 465,500 475,718 Level 2 Series 2015-1 Class A-2-III Notes (b) 476,250 488,490 478,750 490,531 Level 2 Series 2019-1 Class A-1 Notes (b) 120,000 116,100 — — Level 2 U.S. advertising fund revolving line of credit 25,000 25,000 — — Level 2 Canadian revolving credit facility 4,019 4,019 — — Level 2 7% debentures, due in 2025 (b) 83,415 83,415 82,837 94,838 Level 2 _______________ (a) The fair values of our investments are not significant and are based on our review of information provided by the investment managers or investees which was based on (1) valuations performed by the investment managers or investees, (2) quoted market or broker/dealer prices for similar investments and (3) quoted market or broker/dealer prices adjusted by the investment managers for legal or contractual restrictions, risk of nonperformance or lack of marketability, depending upon the underlying investments. During the three months ended June 28, 2020, the Company impaired a miscellaneous investment due to the deterioration in operating performance of the underlying assets. Subsequent to June 28, 2020, the Company sold its remaining interest in this investment. (b) The fair values were based on quoted market prices in markets that are not considered active markets. The carrying amounts of cash, accounts payable, accrued expenses and lines of credit approximate fair value due to the short-term nature of those items. The carrying amounts of accounts and notes receivable, net (both current and non-current) approximate fair value due to the effect of the related allowance for doubtful accounts. Our cash equivalents are the only financial assets measured and recorded at fair value on a recurring basis. Non-Recurring Fair Value Measurements Assets and liabilities remeasured to fair value on a non-recurring basis resulted in impairment that we have recorded to “Impairment of long-lived assets” in our condensed consolidated statements of operations. Total impairment losses may reflect the impact of remeasuring long-lived assets held and used (including land, buildings, leasehold improvements, favorable lease assets and ROU assets) to fair value as a result of (1) declines in operating performance at Company-operated restaurants and (2) the Company’s decision to lease and/or sublease the land and/or buildings to franchisees in connection with the sale or anticipated sale of restaurants, including any subsequent lease modifications. The fair values of long-lived assets held and used presented in the tables below represent the remaining carrying value and were estimated based on either discounted cash flows of future anticipated lease and sublease income or discounted cash flows of future anticipated Company-operated restaurant performance. Total impairment losses may also include the impact of remeasuring long-lived assets held for sale, which primarily include surplus properties. The fair values of long-lived assets held for sale presented in the tables below represent the remaining carrying value and were estimated based on current market values. See Note 11 for further information on impairment of our long-lived assets. Fair Value Measurements June 28, Level 1 Level 2 Level 3 Held and used $ 341 $ — $ — $ 341 Held for sale 1,440 — — 1,440 Total $ 1,781 $ — $ — $ 1,781 Fair Value Measurements December 29, Level 1 Level 2 Level 3 Held and used $ 3,582 $ — $ — $ 3,582 Held for sale 988 — — 988 Total $ 4,570 $ — $ — $ 4,570

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets	6 Months Ended
	Jun. 28, 2020
Asset Impairment Charges [Abstract]
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets During the six months ended June 28, 2020 and June 30, 2019, the Company recorded impairment charges as a result of (1) the deterioration of operating performance of certain Company-operated restaurants and (2) closing Company-operated restaurants and classifying such surplus properties as held for sale. Impairment charges during the six months ended June 28, 2020 were primarily due to the expected deterioration in operating performance of certain Company-operated restaurants as a result of the COVID-19 pandemic. Additional impairment charges may be recognized by the Company in the event of further deterioration in operating performance of Company-operated restaurants. The following is a summary of impairment losses recorded, which represent the excess of the carrying amount over the fair value of the affected assets and are included in “Impairment of long-lived assets:” Three Months Ended Six Months Ended June 28, June 30, June 28, June 30, Company-operated restaurants $ — $ 86 $ 4,395 $ 287 Surplus properties 117 112 309 1,397 $ 117 $ 198 $ 4,704 $ 1,684

Income Taxes

Income Taxes	6 Months Ended
	Jun. 28, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate for the three months ended June 28, 2020 and June 30, 2019 was 20.8% and 29.2%, respectively. The Company’s effective tax rate varied from the U.S. federal statutory rate of 21% primarily due to a reduction for the benefit of share-based compensation, partially offset by an increase due to state income taxes. The Company’s effective tax rate for the six months ended June 28, 2020 and June 30, 2019 was 25.4% and 24.9%, respectively. The Company’s effective tax rate varied from the U.S. federal statutory rate of 21% primarily due to (1) a reduction for the benefit of share-based compensation, (2) an increase due to state income taxes and (3) an increase for tax on our foreign operations. There were no significant changes to the unrecognized tax benefits or related interest and penalties for the three and six months ended June 28, 2020. During the next twelve months, we believe it is reasonably possible the Company will reduce unrecognized tax benefits by up to $1,319 due primarily to the lapse of statutes of limitations and expected settlements.

Net Income Per Share

Net Income Per Share	6 Months Ended
	Jun. 28, 2020
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share Basic net income per share was computed by dividing net income amounts by the weighted average number of shares of common stock outstanding. The weighted average number of shares used to calculate basic and diluted net income per share were as follows: Three Months Ended Six Months Ended June 28, June 30, June 28, June 30, Common stock: Weighted average basic shares outstanding 223,123 231,029 223,329 230,807 Dilutive effect of stock options and restricted shares 4,051 5,064 4,262 5,186 Weighted average diluted shares outstanding 227,174 236,093 227,591 235,993

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 28, 2020
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Dividends During the first and second quarter of 2020, the Company paid dividends per share of $.12 and $.05, respectively. During each of the first and second quarters of 2019, the Company paid dividends per share of $.10. Repurchases of Common Stock In February 2020, our Board of Directors authorized a repurchase program for up to $100,000 of our common stock through February 28, 2021, when and if market conditions warranted and to the extent legally permissible. In July 2020, the Company’s Board of Directors approved an extension of the February 2020 authorization by one year, through February 28, 2022, when and if market and economic conditions warrant and to the extent legally permissible. During the six months ended June 28, 2020, the Company repurchased 779 shares under the February 2020 repurchase authorization with an aggregate purchase price of $14,537, excluding commissions of $11. As of June 28, 2020, the Company had $85,463 of availability remaining under its February 2020 authorization. As previously announced, beginning in March 2020, the Company temporarily suspended all share repurchase activity under the February 2020 authorization in connection with the Company’s response to the COVID-19 pandemic. The Company now intends to resume share repurchases in 2020, subject to market conditions and prevailing economic factors. In February 2019, our Board of Directors authorized a repurchase program for up to $225,000 of our common stock through March 1, 2020, when and if market conditions warranted and to the extent legally permissible. In November 2019, the Company entered into an accelerated share repurchase agreement (the “2019 ASR Agreement”) with a third-party financial institution to repurchase common stock as part of the Company’s existing share repurchase program. Under the 2019 ASR Agreement, the Company paid the financial institution an initial purchase price of $100,000 in cash and received an initial delivery of 4,051 shares of common stock, representing an estimated 85% of the total shares expected to be delivered under the 2019 ASR Agreement. In February 2020, the Company completed the 2019 ASR Agreement and received an additional 628 shares of common stock. The total number of shares of common stock ultimately purchased by the Company under the 2019 ASR Agreement was based on the average of the daily volume-weighted average prices of the common stock during the term of the 2019 ASR Agreement, less an agreed upon discount. In total, 4,679 shares were delivered under the 2019 ASR Agreement at an average purchase price of $21.37 per share. In addition to the shares repurchased in connection with the 2019 ASR Agreement, during the six months ended June 28, 2020, the Company repurchased 1,312 shares with an aggregate purchase price of $28,770, excluding commissions of $18, under the February 2019 authorization. After taking into consideration these repurchases, with the completion of the 2019 ASR Agreement in February 2020, the Company completed its February 2019 authorization. During the six months ended June 30, 2019, the Company repurchased 2,824 shares with an aggregate purchase price of $49,721, of which $807 was accrued at June 30, 2019, and excluding commissions of $40, under the February 2019 authorization and the Company’s previous November 2018 authorization to repurchase up to $220,000 of our common stock. Accumulated Other Comprehensive Loss The following table provides a rollforward of accumulated other comprehensive loss: Six Months Ended June 28, June 30, Balance at beginning of period $ (53,828) $ (61,673) Foreign currency translation (8,358) 9,860 Balance at end of period $ (62,186) $ (51,813)

Leases (Notes)

Leases (Notes)	6 Months Ended
	Jun. 28, 2020
Leases [Abstract]
Leases, Company as Lessee	Leases Nature of Leases The Company operates restaurants that are located on sites owned by us and sites leased by us from third parties. In addition, the Company owns sites and leases sites from third parties, which it leases and/or subleases to franchisees. At June 28, 2020, Wendy’s and its franchisees operated 6,806 Wendy’s restaurants. Of the 358 Company-operated Wendy’s restaurants, Wendy’s owned the land and building for 142 restaurants, owned the building and held long-term land leases for 146 restaurants and held leases covering the land and building for 70 restaurants. Wendy’s also owned 510 and leased 1,243 properties that were either leased or subleased principally to franchisees. The Company also leases restaurant, office and transportation equipment. Company as Lessee The components of lease cost are as follows: Three Months Ended Six Months Ended June 28, June 30, June 28, June 30, Finance lease cost: Amortization of finance lease assets $ 3,338 $ 1,631 $ 6,524 $ 4,748 Interest on finance lease liabilities 10,160 9,939 20,218 16,692 13,498 11,570 26,742 21,440 Operating lease cost 23,969 19,086 45,134 43,729 Variable lease cost (a) 13,848 15,371 28,218 29,475 Short-term lease cost 991 1,153 2,321 2,279 Total operating lease cost (b) 38,808 35,610 75,673 75,483 Total lease cost $ 52,306 $ 47,180 $ 102,415 $ 96,923 _______________ (a) Includes expenses for executory costs of $9,457 and $9,779 for the three months ended June 28, 2020 and June 30, 2019, respectively, and $19,200 and $19,303 for the six months ended June 28, 2020 and June 30, 2019, respectively, for which the Company is reimbursed by sublessees. (b) Includes $31,263 and $28,022 for the three months ended June 28, 2020 and June 30, 2019, respectively, and $60,554 and $60,473 for the six months ended June 28, 2020 and June 30, 2019, respectively, recorded to “Franchise rental expense” for leased properties that are subsequently leased to franchisees. Also includes $6,831 and $7,007 for the three months ended June 28, 2020 and June 30, 2019, respectively, and $13,664 and $13,600 for the six months ended June 28, 2020 and June 30, 2019, respectively, recorded to “Cost of sales” for leases for Company-operated restaurants.
Leases, Company as Lessor	Company as Lessor The components of lease income are as follows: Three Months Ended Six Months Ended June 28, June 30, June 28, June 30, Sales-type and direct-financing leases: Selling profit $ 569 $ 37 $ 1,197 $ 1,971 Interest income 7,260 7,072 14,508 11,805 Operating lease income $ 43,052 $ 43,959 $ 87,004 $ 89,164 Variable lease income 13,805 14,602 27,709 27,849 Franchise rental income (a) $ 56,857 $ 58,561 $ 114,713 $ 117,013 _______________ (a) Includes sublease income of $41,489 and $42,921 for the three months ended June 28, 2020 and June 30, 2019, respectively, and $83,531 and $85,942 for the six months ended June 28, 2020 and June 30, 2019, respectively. Sublease income includes lessees’ variable payments to the Company for executory costs of $9,450 and $9,779 for the three months ended June 28, 2020 and June 30, 2019, respectively, and $19,159 and $19,211 for the six months ended June 28, 2020 and June 30, 2019, respectively.

Transactions with Related Parti

Transactions with Related Parties	6 Months Ended
	Jun. 28, 2020
Related Party Transactions [Abstract]
Transactions with Related Parties	Transactions with Related Parties Except as described below, the Company did not have any significant changes in or transactions with its related parties during the current fiscal period since those reported in the Form 10-K. TimWen Lease and Management Fee Payments A wholly-owned subsidiary of Wendy’s leases restaurant facilities from TimWen, which are then subleased to franchisees for the operation of Wendy’s/Tim Hortons combo units in Canada. During the six months ended June 28, 2020 and June 30, 2019, Wendy’s paid TimWen $7,408 and $8,140, respectively, under these lease agreements. In addition, TimWen paid Wendy’s a management fee under the TimWen joint venture agreement of $101 and $103 during the six months ended June 28, 2020 and June 30, 2019, respectively, which has been included as a reduction to “General and administrative.”

Guarantees and Other Commitment

Guarantees and Other Commitments and Contingencies	6 Months Ended
	Jun. 28, 2020
Commitments and Contingencies Disclosure [Abstract]
Guarantees and Other Commitments and Contingencies	Guarantees and Other Commitments and Contingencies Except as described below, the Company did not have any significant changes in guarantees and other commitments and contingencies during the current fiscal period since those reported in the Form 10-K. Refer to the Form 10-K for further information regarding the Company’s additional commitments and obligations. Lease Guarantees Wendy’s has guaranteed the performance of certain leases and other obligations, primarily from former Company-operated restaurant locations now operated by franchisees, amounting to $74,538 as of June 28, 2020. These leases extend through 2045. We have not received any notice of default related to these leases as of June 28, 2020. In the event of default by a franchise owner, Wendy’s generally retains the right to acquire possession of the related restaurant locations. Letters of Credit As of June 28, 2020, the Company had outstanding letters of credit with various parties totaling $26,374. Substantially all of the outstanding letters of credit include amounts outstanding against the 2019-1 Class A-1 Notes. We do not expect any material loss to result from these letters of credit.

Legal and Environmental Matters

Legal and Environmental Matters	6 Months Ended
	Jun. 28, 2020
Loss Contingency [Abstract]
Legal and Environmental Matters	Legal and Environmental Matters The Company is involved in litigation and claims incidental to our current and prior businesses. We provide accruals for such litigation and claims when payment is probable and reasonably estimable, and we believe we have adequate accruals for continuing operations for all such matters. We cannot estimate the aggregate possible range of loss for various reasons, including, but not limited to, many proceedings being in preliminary stages, with various motions either yet to be submitted or pending, discovery yet to occur and/or significant factual matters unresolved. In addition, most cases seek an indeterminate amount of damages and many involve multiple parties. Predicting the outcomes of settlement discussions or judicial or arbitral decisions is thus inherently difficult and future developments could cause these actions or claims, individually or in aggregate, to have a material adverse effect on the Company’s financial condition, results of operations or cash flows of a particular reporting period. We previously described certain legal proceedings in the Form 10-K. As of June 28, 2020, there were no material developments in those legal proceedings.

Segment Information (Notes)

Segment Information (Notes)	6 Months Ended
	Jun. 28, 2020
Segment Reporting [Abstract]
Segment Information	Segment Information Revenues by segment were as follows: Three Months Ended Six Months Ended June 28, June 30, June 28, June 30, Wendy’s U.S. $ 331,258 $ 359,155 $ 662,299 $ 692,641 Wendy’s International 14,003 17,030 29,475 33,028 Global Real Estate & Development 57,045 59,163 115,492 118,262 Total revenues $ 402,306 $ 435,348 $ 807,266 $ 843,931 The following table reconciles profit by segment to the Company’s consolidated income before income taxes: Three Months Ended Six Months Ended June 28, June 30, June 28, June 30, Wendy’s U.S. (a) $ 93,136 $ 102,973 $ 174,964 $ 192,627 Wendy’s International 3,594 5,482 8,689 11,229 Global Real Estate & Development 23,711 29,899 50,201 56,852 Total segment profit $ 120,441 $ 138,354 $ 233,854 $ 260,708 Advertising funds deficit (1,020) (2,055) (2,407) (2,055) Unallocated general and administrative (b) (23,051) (20,610) (47,170) (41,352) Depreciation and amortization (34,714) (31,484) (65,760) (64,669) System optimization gains, net 1,987 110 2,310 122 Reorganization and realignment costs (2,911) (3,570) (6,821) (4,368) Impairment of long-lived assets (117) (198) (4,704) (1,684) Unallocated other operating income, net 46 26 91 137 Interest expense, net (29,085) (29,931) (57,610) (59,013) Loss on early extinguishment of debt — (7,150) — (7,150) Other (expense) income, net (144) 2,247 932 4,947 Income before income taxes $ 31,432 $ 45,739 $ 52,715 $ 85,623 (a) For the three and six months ended June 28, 2020, includes advertising funds expense of $2,185 related to the expected Company funding of incremental advertising during 2020. (b) Includes corporate overhead costs, such as employee compensation and related benefits.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 28, 2020
Revenue [Abstract]
Disaggregation of Revenue	The following tables disaggregate revenue by segment and source: Wendy’s U.S. Wendy’s International Global Real Estate & Development Total Three Months Ended June 28, 2020 Sales at Company-operated restaurants $ 164,217 $ — $ — $ 164,217 Franchise royalty revenue 88,121 9,070 — 97,191 Franchise fees 5,308 433 188 5,929 Franchise rental income — — 56,857 56,857 Advertising funds revenue 73,612 4,500 — 78,112 Total revenues $ 331,258 $ 14,003 $ 57,045 $ 402,306 Six Months Ended June 28, 2020 Sales at Company-operated restaurants $ 331,015 $ — $ — $ 331,015 Franchise royalty revenue 172,954 19,593 — 192,547 Franchise fees 10,593 906 779 12,278 Franchise rental income — — 114,713 114,713 Advertising funds revenue 147,737 8,976 — 156,713 Total revenues $ 662,299 $ 29,475 $ 115,492 $ 807,266 Three Months Ended June 30, 2019 Sales at Company-operated restaurants $ 181,050 $ — $ — $ 181,050 Franchise royalty revenue 91,430 11,391 — 102,821 Franchise fees 5,238 464 602 6,304 Franchise rental income — — 58,561 58,561 Advertising funds revenue 81,437 5,175 — 86,612 Total revenues $ 359,155 $ 17,030 $ 59,163 $ 435,348 Wendy’s U.S. Wendy’s International Global Real Estate & Development Total Six Months Ended June 30, 2019 Sales at Company-operated restaurants $ 348,747 $ — $ — $ 348,747 Franchise royalty revenue 175,808 21,856 — 197,664 Franchise fees 10,668 1,497 1,249 13,414 Franchise rental income — — 117,013 117,013 Advertising funds revenue 157,418 9,675 — 167,093 Total revenues $ 692,641 $ 33,028 $ 118,262 $ 843,931
Contract balances, assets and liabilities	The following table provides information about receivables and contract liabilities (deferred franchise fees) from contracts with customers: June 28, December 29, Receivables, which are included in “Accounts and notes receivable, net” (b) (c) $ 86,834 $ 39,188 Receivables, which are included in “Advertising funds restricted assets” (c) 83,891 54,394 Deferred franchise fees (d) 98,563 100,689 _______________ (a) Excludes funds collected from the sale of gift cards, which are primarily reimbursed to franchisees upon redemption at franchised restaurants and do not ultimately result in the recognition of revenue in the Company’s condensed consolidated statements of operations. (b) Includes receivables related to “Sales” and “Franchise royalty revenue and fees.” (c) The increase in receivables as of June 28, 2020 was primarily due to extending payment terms for royalties and national advertising funds contributions by 45 days beginning in April for a three month period in response to the COVID-19 pandemic. See Note 7 for further information. (d) Deferred franchise fees are included in “Accrued expenses and other current liabilities” and “Deferred franchise fees” and totaled $9,179 and $89,384 as of June 28, 2020, respectively, and $8,899 and $91,790 as of December 29, 2019, respectively.
Deferred franchise fee rollforward	Significant changes in deferred franchise fees are as follows: Six Months Ended June 28, June 30, Deferred franchise fees at beginning of period $ 100,689 $ 102,205 Revenue recognized during the period (3,898) (4,609) New deferrals due to cash received and other 1,772 3,671 Deferred franchise fees at end of period $ 98,563 $ 101,267
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	The following table reflects the estimated franchise fees to be recognized in the future related to performance obligations that are unsatisfied at the end of the period: Estimate for fiscal year: 2020 (a) $ 6,091 2021 6,195 2022 5,991 2023 5,819 2024 5,616 Thereafter 68,851 $ 98,563 _______________ (a) Represents franchise fees expected to be recognized for the remainder of 2020, which includes development-related franchise fees expected to be recognized over a duration of one year or less.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 28, 2020
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	The table below presents the allocation of the total purchase price to the fair value of assets acquired and liabilities assumed for restaurants acquired from franchisees: Six Months Ended June 30, Restaurants acquired from franchisees 5 Total consideration paid, net of cash received $ 5,052 Identifiable assets acquired and liabilities assumed: Properties 666 Acquired franchise rights 1,354 Finance lease assets 5,350 Finance lease liabilities (4,084) Other (2,316) Total identifiable net assets 970 Goodwill $ 4,082

System Optimization Gains, Net

System Optimization Gains, Net (Tables)	6 Months Ended
	Jun. 28, 2020
System optimization gains, net
Summary of Disposition Activity	The following is a summary of the disposition activity recorded as a result of our system optimization initiative: Three Months Ended Six Months Ended June 28, June 30, June 28, June 30, Post-closing adjustments on sales of restaurants (a) $ — $ 62 $ 345 $ 54 Gain on sales of other assets, net (b) 1,987 48 1,965 68 System optimization gains, net $ 1,987 $ 110 $ 2,310 $ 122 _______________ (a) The six months ended June 28, 2020 represents the recognition of deferred gains as a result of the resolution of certain contingencies related to the extension of lease terms for restaurants previously sold to franchisees. (b) During the three and six months ended June 28, 2020, the Company received cash proceeds of $4,125 and $4,320, respectively, primarily from the sale of surplus and other properties. During the three and six months ended June 30, 2019, the Company received cash proceeds of $1,240, primarily from the sale of surplus properties.
Assets Held for Sale	June 28, December 29, Number of restaurants classified as held for sale 43 — Net restaurant assets held for sale (a) $ 20,468 $ — Other assets held for sale (b) $ 2,317 $ 1,437 _______________ (a) Net restaurant assets held for sale include the New York Company-operated restaurants we expect to sell in the first quarter of 2021 and consist primarily of cash, inventory, property and an estimate of allocable goodwill.

Reorganization and Realignmen_2

Reorganization and Realignment Costs (Tables)	6 Months Ended
	Jun. 28, 2020
Restructuring Cost and Reserve
Restructuring and Related Costs	The following is a summary of the initiatives included in “Reorganization and realignment costs:” Three Months Ended Six Months Ended June 28, June 30, June 28, June 30, IT realignment $ 2,847 $ — $ 6,406 $ — G&A realignment 64 3,517 331 4,299 System optimization initiative — 53 84 69 Reorganization and realignment costs $ 2,911 $ 3,570 $ 6,821 $ 4,368
IT Realignment
Restructuring Cost and Reserve
Restructuring and Related Costs	The following is a summary of the activity recorded as a result of the IT realignment plan: Three Months Ended Six Months Ended Total June 28, June 28, Severance and related employee costs $ 830 $ 975 $ 8,523 Recruitment and relocation costs 143 314 314 Third-party and other costs 1,874 5,117 6,503 2,847 6,406 15,340 Share-based compensation (a) — — 193 Total IT realignment $ 2,847 $ 6,406 $ 15,533 _______________ (a) Primarily represents incremental share-based compensation resulting from the modification of stock options in connection with the termination of employees under our IT realignment plan.
Schedule of Restructuring Reserve by Type of Cost	The table below presents a rollforward of our accruals for the IT realignment plan, which are included in “Accrued expenses and other current liabilities” and “Other liabilities” and totaled $4,039 and $371 as of June 28, 2020, respectively. Balance Charges Payments Balance Severance and related employee costs $ 7,548 $ 975 $ (4,113) $ 4,410 Recruitment and relocation costs — 314 (314) — Third-party and other costs 1,076 5,117 (6,193) — $ 8,624 $ 6,406 $ (10,620) $ 4,410
G&A Realignment
Restructuring Cost and Reserve
Restructuring and Related Costs	The following is a summary of the activity recorded as a result of the G&A realignment plan: Three Months Ended Six Months Ended Total June 28, June 30, June 28, June 30, Severance and related employee costs (a) $ (6) $ 2,130 $ 146 $ 2,602 $ 24,384 Recruitment and relocation costs — 482 15 596 2,531 Third-party and other costs — 71 1 87 2,211 (6) 2,683 162 3,285 29,126 Share-based compensation (b) 70 834 169 1,014 8,067 Termination of defined benefit plans — — — — 1,335 Total G&A realignment $ 64 $ 3,517 $ 331 $ 4,299 $ 38,528 _______________ (a) The three and six months ended June 28, 2020 includes a reversal of an accrual as a result of a change in estimate. (b) Primarily represents incremental share-based compensation resulting from the modification of stock options in connection with the termination of employees under our G&A realignment plan.
Schedule of Restructuring Reserve by Type of Cost	The accruals for our G&A realignment plan are included in “Accrued expenses and other current liabilities” and “Other liabilities” and totaled $2,705 and $108 as of June 28, 2020, respectively, and $4,835 and $607 as of June 30, 2019, respectively. The tables below present a rollforward of our accruals for the plan. Balance Charges Payments Balance Severance and related employee costs $ 5,276 $ 146 $ (2,671) $ 2,751 Recruitment and relocation costs 83 15 (36) 62 Third-party and other costs — 1 (1) — $ 5,359 $ 162 $ (2,708) $ 2,813 Balance Charges Payments Balance Severance and related employee costs $ 7,241 $ 2,602 $ (4,724) $ 5,119 Recruitment and relocation costs 83 596 (356) 323 Third-party and other costs — 87 (87) — $ 7,324 $ 3,285 $ (5,167) $ 5,442

Cash and Receivables (Tables)

Cash and Receivables (Tables)	6 Months Ended
	Jun. 28, 2020
Cash and Receivables [Abstract]
Schedule of Cash and Cash Equivalents	June 28, December 29, 2019 Cash and cash equivalents Cash $ 202,939 $ 185,203 Cash equivalents 135,063 114,992 338,002 300,195 Restricted cash Accounts held by trustee for the securitized financing facility 30,274 34,209 Other 332 330 30,606 34,539 Advertising Funds (a) 40,850 23,973 71,456 58,512 Total cash, cash equivalents and restricted cash $ 409,458 $ 358,707 _______________ (a) Included in “Advertising funds restricted assets.”
Schedule of Accounts, Notes, Loans and Financing Receivable	June 28, 2020 December 29, 2019 Gross Allowance for Doubtful Accounts Net Gross Allowance for Doubtful Accounts Net Accounts and Notes Receivable, Net Current Accounts receivable (a) (b) $ 125,021 $ (4,404) $ 120,617 $ 103,852 $ (3,314) $ 100,538 Notes receivable from franchisees (c) (d) 18,572 (4,670) 13,902 23,628 (6,705) 16,923 $ 143,593 $ (9,074) $ 134,519 $ 127,480 $ (10,019) $ 117,461 Non-current (e) Notes receivable from franchisees (d) $ 6,425 $ (835) $ 5,590 $ 1,617 $ — $ 1,617 _______________ (a) Includes income tax refund receivables of $5,933 and $13,555 as of June 28, 2020 and December 29, 2019, respectively. Additionally, 2019 includes receivables of $25,350 related to insurance coverage for the financial institutions class action. (b) During the six months ended June 28, 2020, royalty receivables increased by $47,740 and rent receivables increased by $6,111. These increases were primarily due to actions taken by the Company in response to the COVID-19 pandemic, which included (1) extending payment terms for royalties by 45 days beginning in April for a three month period and (2) offering to defer base rent payments on properties owned by Wendy’s and leased to franchisees by 50%, and offering to pass along any deferrals that were obtained on properties leased by Wendy’s and subleased to franchisees by up to 100%, beginning in May for a three month period, which will be repaid over 12 months beginning in August. (c) Includes the current portion of sales-type and direct financing lease receivables of $3,780 and $3,146 as of June 28, 2020 and December 29, 2019, respectively. Included a note receivable from a U.S. franchisee totaling $1,000 as of December 29, 2019. The note was repaid during the six months ended June 28, 2020. (d) Includes a note receivable from a franchisee in India, of which $150 and $1,000 are included in current notes receivable as of June 28, 2020 and December 29, 2019, respectively, and $1,010 is included in non-current notes receivable as of June 28, 2020. As of June 28, 2020 and December 29, 2019, the Company had a reserve of $985 on the loan outstanding to the franchisee in India. Includes a note receivable from a franchisee in Indonesia, of which $1,367 and $1,262 are included in current notes receivable and $1,065 and $1,617 are included in non-current notes receivable as of June 28, 2020 and December 29, 2019, respectively. Includes notes receivable related to a joint venture for the operation of Wendy’s restaurants in Brazil (the “Brazil JV”), of which $11,975 and $15,920 are included in current notes receivable as of June 28, 2020 and December 29, 2019, respectively, and $4,350 is included in non-current notes receivable as of June 28, 2020. As of June 28, 2020 and December 29, 2019, the Company had reserves of $4,520 and $5,720, respectively, on the loans outstanding related to the Brazil JV. (e) Included in “Other assets.”
Accounts Receivable, Allowance for Doubtful Accounts	The following is an analysis of the allowance for doubtful accounts: Accounts Receivable Notes Receivable Total Six Months Ended June 28, 2020 Balance at December 29, 2019 $ 3,314 $ 6,705 $ 10,019 Provision for doubtful accounts 1,156 (8) 1,148 Uncollectible accounts written off, net of recoveries (66) (1,192) (1,258) Balance at June 28, 2020 $ 4,404 $ 5,505 $ 9,909 Six Months Ended June 30, 2019 Balance at December 30, 2018 $ 4,940 $ 2,000 $ 6,940 Provision for doubtful accounts (754) 1,843 1,089 Uncollectible accounts written off, net of recoveries (139) 7 (132) Balance at June 30, 2019 $ 4,047 $ 3,850 $ 7,897

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 28, 2020
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	Presented below is activity related to our investment in TimWen and the Brazil JV included in our condensed consolidated financial statements: Six Months Ended June 28, June 30, Balance at beginning of period $ 45,310 $ 47,021 Equity in earnings for the period 3,455 6,048 Amortization of purchase price adjustments (a) (1,105) (1,129) 2,350 4,919 Distributions received (3,612) (7,018) Foreign currency translation adjustment included in “Other comprehensive income (loss)” and other (1,631) 2,359 Balance at end of period $ 42,417 $ 47,281 _______________ (a) Purchase price adjustments that impacted the carrying value of the Company’s investment in TimWen are being amortized over the average original aggregate life of 21 years.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 28, 2020
Debt Disclosure [Abstract]
Long-term debt	Long-term debt consisted of the following: June 28, December 29, Series 2019-1 Class A-2 Notes: 3.783% Series 2019-1 Class A-2-I Notes, anticipated repayment date 2026 $ 392,000 $ 398,000 4.080% Series 2019-1 Class A-2-II Notes, anticipated repayment date 2029 441,000 447,750 Series 2018-1 Class A-2 Notes: 3.573% Series 2018-1 Class A-2-I Notes, anticipated repayment date 2025 438,750 441,000 3.884% Series 2018-1 Class A-2-II Notes, anticipated repayment date 2028 463,125 465,500 Series 2015-1 Class A-2 Notes: 4.497% Series 2015-1 Class A-2-III Notes, anticipated repayment date 2025 476,250 478,750 Series 2019-1 Class A-1 Variable Funding Senior Secured Notes 120,000 — Canadian revolving credit facility 4,019 — 7% debentures, due in 2025 83,415 82,837 Unamortized debt issuance costs (33,085) (33,526) 2,385,474 2,280,311 Less amounts payable within one year (146,769) (22,750) Total long-term debt $ 2,238,705 $ 2,257,561

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 28, 2020
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments: June 28, December 29, Carrying Fair Carrying Fair Fair Value Financial assets Cash equivalents $ 135,063 $ 135,063 $ 114,992 $ 114,992 Level 1 Other investments in equity securities (a) 175 175 639 1,649 Level 3 Financial liabilities Series 2019-1 Class A-2-I Notes (b) 392,000 410,071 398,000 405,152 Level 2 Series 2019-1 Class A-2-II Notes (b) 441,000 468,518 447,750 459,136 Level 2 Series 2018-1 Class A-2-I Notes (b) 438,750 451,298 441,000 444,859 Level 2 Series 2018-1 Class A-2-II Notes (b) 463,125 487,624 465,500 475,718 Level 2 Series 2015-1 Class A-2-III Notes (b) 476,250 488,490 478,750 490,531 Level 2 Series 2019-1 Class A-1 Notes (b) 120,000 116,100 — — Level 2 U.S. advertising fund revolving line of credit 25,000 25,000 — — Level 2 Canadian revolving credit facility 4,019 4,019 — — Level 2 7% debentures, due in 2025 (b) 83,415 83,415 82,837 94,838 Level 2 _______________ (a) The fair values of our investments are not significant and are based on our review of information provided by the investment managers or investees which was based on (1) valuations performed by the investment managers or investees, (2) quoted market or broker/dealer prices for similar investments and (3) quoted market or broker/dealer prices adjusted by the investment managers for legal or contractual restrictions, risk of nonperformance or lack of marketability, depending upon the underlying investments. During the three months ended June 28, 2020, the Company impaired a miscellaneous investment due to the deterioration in operating performance of the underlying assets. Subsequent to June 28, 2020, the Company sold its remaining interest in this investment. (b) The fair values were based on quoted market prices in markets that are not considered active markets.
Fair value of assets and liabilities (other than cash and cash equivalents) measured at fair value on a nonrecurring basis	Fair Value Measurements June 28, Level 1 Level 2 Level 3 Held and used $ 341 $ — $ — $ 341 Held for sale 1,440 — — 1,440 Total $ 1,781 $ — $ — $ 1,781 Fair Value Measurements December 29, Level 1 Level 2 Level 3 Held and used $ 3,582 $ — $ — $ 3,582 Held for sale 988 — — 988 Total $ 4,570 $ — $ — $ 4,570

Impairment of Long-Lived Asse_2

Impairment of Long-Lived Assets (Tables)	6 Months Ended
	Jun. 28, 2020
Asset Impairment Charges [Abstract]
Impairment of Long-Lived Assets	The following is a summary of impairment losses recorded, which represent the excess of the carrying amount over the fair value of the affected assets and are included in “Impairment of long-lived assets:” Three Months Ended Six Months Ended June 28, June 30, June 28, June 30, Company-operated restaurants $ — $ 86 $ 4,395 $ 287 Surplus properties 117 112 309 1,397 $ 117 $ 198 $ 4,704 $ 1,684

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Jun. 28, 2020
Earnings Per Share [Abstract]
Number of shares used to calculate basic and diluted income per share	The weighted average number of shares used to calculate basic and diluted net income per share were as follows: Three Months Ended Six Months Ended June 28, June 30, June 28, June 30, Common stock: Weighted average basic shares outstanding 223,123 231,029 223,329 230,807 Dilutive effect of stock options and restricted shares 4,051 5,064 4,262 5,186 Weighted average diluted shares outstanding 227,174 236,093 227,591 235,993

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 28, 2020
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The following table provides a rollforward of accumulated other comprehensive loss: Six Months Ended June 28, June 30, Balance at beginning of period $ (53,828) $ (61,673) Foreign currency translation (8,358) 9,860 Balance at end of period $ (62,186) $ (51,813)

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 28, 2020
Leases [Abstract]
Lease, Cost	The components of lease cost are as follows: Three Months Ended Six Months Ended June 28, June 30, June 28, June 30, Finance lease cost: Amortization of finance lease assets $ 3,338 $ 1,631 $ 6,524 $ 4,748 Interest on finance lease liabilities 10,160 9,939 20,218 16,692 13,498 11,570 26,742 21,440 Operating lease cost 23,969 19,086 45,134 43,729 Variable lease cost (a) 13,848 15,371 28,218 29,475 Short-term lease cost 991 1,153 2,321 2,279 Total operating lease cost (b) 38,808 35,610 75,673 75,483 Total lease cost $ 52,306 $ 47,180 $ 102,415 $ 96,923 _______________ (a) Includes expenses for executory costs of $9,457 and $9,779 for the three months ended June 28, 2020 and June 30, 2019, respectively, and $19,200 and $19,303 for the six months ended June 28, 2020 and June 30, 2019, respectively, for which the Company is reimbursed by sublessees. (b) Includes $31,263 and $28,022 for the three months ended June 28, 2020 and June 30, 2019, respectively, and $60,554 and $60,473 for the six months ended June 28, 2020 and June 30, 2019, respectively, recorded to “Franchise rental expense” for leased properties that are subsequently leased to franchisees. Also includes $6,831 and $7,007 for the three months ended June 28, 2020 and June 30, 2019, respectively, and $13,664 and $13,600 for the six months ended June 28, 2020 and June 30, 2019, respectively, recorded to “Cost of sales” for leases for Company-operated restaurants.
Operating Lease, Lease Income	The components of lease income are as follows: Three Months Ended Six Months Ended June 28, June 30, June 28, June 30, Sales-type and direct-financing leases: Selling profit $ 569 $ 37 $ 1,197 $ 1,971 Interest income 7,260 7,072 14,508 11,805 Operating lease income $ 43,052 $ 43,959 $ 87,004 $ 89,164 Variable lease income 13,805 14,602 27,709 27,849 Franchise rental income (a) $ 56,857 $ 58,561 $ 114,713 $ 117,013 _______________ (a) Includes sublease income of $41,489 and $42,921 for the three months ended June 28, 2020 and June 30, 2019, respectively, and $83,531 and $85,942 for the six months ended June 28, 2020 and June 30, 2019, respectively. Sublease income includes lessees’ variable payments to the Company for executory costs of $9,450 and $9,779 for the three months ended June 28, 2020 and June 30, 2019, respectively, and $19,159 and $19,211 for the six months ended June 28, 2020 and June 30, 2019, respectively.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 28, 2020
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	Revenues by segment were as follows: Three Months Ended Six Months Ended June 28, June 30, June 28, June 30, Wendy’s U.S. $ 331,258 $ 359,155 $ 662,299 $ 692,641 Wendy’s International 14,003 17,030 29,475 33,028 Global Real Estate & Development 57,045 59,163 115,492 118,262 Total revenues $ 402,306 $ 435,348 $ 807,266 $ 843,931
Schedule of Segment Reporting Information, by Segment	The following table reconciles profit by segment to the Company’s consolidated income before income taxes: Three Months Ended Six Months Ended June 28, June 30, June 28, June 30, Wendy’s U.S. (a) $ 93,136 $ 102,973 $ 174,964 $ 192,627 Wendy’s International 3,594 5,482 8,689 11,229 Global Real Estate & Development 23,711 29,899 50,201 56,852 Total segment profit $ 120,441 $ 138,354 $ 233,854 $ 260,708 Advertising funds deficit (1,020) (2,055) (2,407) (2,055) Unallocated general and administrative (b) (23,051) (20,610) (47,170) (41,352) Depreciation and amortization (34,714) (31,484) (65,760) (64,669) System optimization gains, net 1,987 110 2,310 122 Reorganization and realignment costs (2,911) (3,570) (6,821) (4,368) Impairment of long-lived assets (117) (198) (4,704) (1,684) Unallocated other operating income, net 46 26 91 137 Interest expense, net (29,085) (29,931) (57,610) (59,013) Loss on early extinguishment of debt — (7,150) — (7,150) Other (expense) income, net (144) 2,247 932 4,947 Income before income taxes $ 31,432 $ 45,739 $ 52,715 $ 85,623 (a) For the three and six months ended June 28, 2020, includes advertising funds expense of $2,185 related to the expected Company funding of incremental advertising during 2020. (b) Includes corporate overhead costs, such as employee compensation and related benefits.

Revenue Disaggregation of Reven

Revenue Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Disaggregation of Revenue
Franchise rental income	$ 56,857	$ 58,561	$ 114,713	$ 117,013
Total revenues	402,306	435,348	807,266	843,931
Sales at Company-operated restaurants
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	164,217	181,050	331,015	348,747
Franchise royalty revenue
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	97,191	102,821	192,547	197,664
Franchise fees
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	5,929	6,304	12,278	13,414
Advertising funds revenue
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	78,112	86,612	156,713	167,093
Wendy's U.S.
Disaggregation of Revenue
Franchise rental income	0	0	0	0
Total revenues	331,258	359,155	662,299	692,641
Wendy's U.S. | Sales at Company-operated restaurants
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	164,217	181,050	331,015	348,747
Wendy's U.S. | Franchise royalty revenue
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	88,121	91,430	172,954	175,808
Wendy's U.S. | Franchise fees
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	5,308	5,238	10,593	10,668
Wendy's U.S. | Advertising funds revenue
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	73,612	81,437	147,737	157,418
Wendy's International
Disaggregation of Revenue
Franchise rental income	0	0	0	0
Total revenues	14,003	17,030	29,475	33,028
Wendy's International | Sales at Company-operated restaurants
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	0	0	0	0
Wendy's International | Franchise royalty revenue
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	9,070	11,391	19,593	21,856
Wendy's International | Franchise fees
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	433	464	906	1,497
Wendy's International | Advertising funds revenue
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	4,500	5,175	8,976	9,675
Global Real Estate & Development
Disaggregation of Revenue
Franchise rental income	56,857	58,561	114,713	117,013
Total revenues	57,045	59,163	115,492	118,262
Global Real Estate & Development | Sales at Company-operated restaurants
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	0	0	0	0
Global Real Estate & Development | Franchise royalty revenue
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	0	0	0	0
Global Real Estate & Development | Franchise fees
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	188	602	779	1,249
Global Real Estate & Development | Advertising funds revenue
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	$ 0	$ 0	$ 0	$ 0

Revenue Contract Balances (Deta

Revenue Contract Balances (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Dec. 29, 2019
Contract balances
Receivables, which are included in Accounts and notes receivable, net	$ 86,834		$ 39,188
Receivables, which are included in Advertising funds restricted assets	83,891		54,394
Deferred franchise fees at beginning of period	100,689	$ 102,205
Revenue recognized during the period	(3,898)	(4,609)
New deferrals due to cash received and other	1,772	3,671
Deferred franchise fees at end of period	98,563	$ 101,267
Deferred franchisee fees, current	9,179		8,899
Deferred franchise fees, noncurrent	$ 89,384		$ 91,790

Revenue Revenue, Remaining Perf

Revenue Revenue, Remaining Performance Obligation (Details) $ in Thousands	Jun. 28, 2020USD ($)
Revenue, Remaining Performance Obligation, Amount	$ 98,563
2020
Revenue, Remaining Performance Obligation, Amount	6,091
2021
Revenue, Remaining Performance Obligation, Amount	6,195
2022
Revenue, Remaining Performance Obligation, Amount	5,991
2023
Revenue, Remaining Performance Obligation, Amount	5,819
2024
Revenue, Remaining Performance Obligation, Amount	5,616
Thereafter
Revenue, Remaining Performance Obligation, Amount	$ 68,851

Acquisitions (Details)

Acquisitions (Details) $ in Thousands	3 Months Ended	6 Months Ended		12 Months Ended
	Mar. 31, 2019USD ($)	Jun. 28, 2020USD ($)number_of_restaurants	Jun. 30, 2019USD ($)number_of_restaurants	Dec. 30, 2018USD ($)number_of_restaurants	Dec. 29, 2019USD ($)
Business Acquisition
Goodwill		$ 749,080			$ 755,911
Acquisitions
Business Acquisition
Restaurants acquired from franchisees | number_of_restaurants		0	5	16
Total consideration paid, net of cash received			$ 5,052	$ 21,401
Properties			666
Acquired franchise rights			1,354
Finance lease assets			5,350
Finance lease liabilities			(4,084)
Other			(2,316)
Total identifiable net assets			970
Goodwill			$ 4,082
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles	$ (2,989)
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets	$ 140

System Optimization Gains, Ne_2

System Optimization Gains, Net Summary of Disposition Activity (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020USD ($)number_of_restaurants	Jun. 30, 2019USD ($)	Jun. 28, 2020USD ($)number_of_restaurants	Jun. 30, 2019USD ($)number_of_restaurants	Dec. 29, 2019number_of_restaurants	Jan. 01, 2017
System optimization gains, net
Company-operated restaurant ownership percentage						5.00%
Number of restaurants classified as assets held for sale | number_of_restaurants	43		43		0
System optimization gains, net	$ 1,987	$ 110	$ 2,310	$ 122
Proceeds from sales			$ 4,320	$ 1,240
Sale of franchise-operated restaurant to franchisee
System optimization gains, net
Significant Changes, Franchises Sold | number_of_restaurants			3	0
Sale of Company-operated restaurants to franchisees
System optimization gains, net
Post closing adjustments on sales of restaurants	0	62	$ 345	$ 54
Sale of other assets
System optimization gains, net
System optimization gains, net	1,987	48	1,965	68
Proceeds from sales	$ 4,125	$ 1,240	$ 4,320	$ 1,240

System Optimization Gains, Ne_3

System Optimization Gains, Net Assets Held for Sale (Details) $ in Thousands	Jun. 28, 2020USD ($)number_of_restaurants	Dec. 29, 2019USD ($)number_of_restaurants
Long lived assets held for sale
Number of restaurants classified as held for sale | number_of_restaurants	43	0
Net restaurant assets held for sale
Long lived assets held for sale
Assets held for sale	$ 20,468	$ 0
Other assets held for sale
Long lived assets held for sale
Assets held for sale	$ 2,317	$ 1,437

Reorganization and Realignmen_3

Reorganization and Realignment Costs Summary (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Restructuring Cost and Reserve
Reorganization and realignment costs	$ 2,911	$ 3,570	$ 6,821	$ 4,368
IT Realignment
Restructuring Cost and Reserve
Reorganization and realignment costs	2,847	0	6,406	0
G&A Realignment
Restructuring Cost and Reserve
Reorganization and realignment costs	64	3,517	331	4,299
System Optimization
Restructuring Cost and Reserve
Reorganization and realignment costs	$ 0	$ 53	$ 84	$ 69

Reorganization and Realignmen_4

Reorganization and Realignment Costs IT Realignment Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Restructuring Cost and Reserve
Reorganization and realignment costs	$ 2,911	$ 3,570	$ 6,821	$ 4,368
IT Realignment
Restructuring Cost and Reserve
Restructuring and Related Cost, Expected Cost Remaining	1,000		1,000
Restructuring and Related Cost, Incurred Cost	2,847		6,406
Restructuring and Related Cost, Cost Incurred to Date	15,340		15,340
Reorganization and realignment costs	2,847	$ 0	6,406	$ 0
Restructuring Charges, Incurred to Date	15,533		15,533
IT Realignment | Severance and related employee costs
Restructuring Cost and Reserve
Restructuring and Related Cost, Incurred Cost	830		975
Restructuring and Related Cost, Cost Incurred to Date	8,523		8,523
IT Realignment | Recruitment and relocation costs
Restructuring Cost and Reserve
Restructuring and Related Cost, Incurred Cost	143		314
Restructuring and Related Cost, Cost Incurred to Date	314		314
IT Realignment | Third-party and other costs
Restructuring Cost and Reserve
Restructuring and Related Cost, Incurred Cost	1,874		5,117
Restructuring and Related Cost, Cost Incurred to Date	6,503		6,503
IT Realignment | Share based compensation
Restructuring Cost and Reserve
Restructuring and Related Cost, Incurred Cost	0		0
Restructuring and Related Cost, Cost Incurred to Date	193		193
IT Realignment | Minimum
Restructuring Cost and Reserve
Restructuring and Related Cost, Expected Cost	16,000		16,000
IT Realignment | Maximum
Restructuring Cost and Reserve
Restructuring and Related Cost, Expected Cost	$ 17,000		$ 17,000

Reorganization and Realignmen_5

Reorganization and Realignment Costs IT Realignment Accrual Rollforward (Details) - IT Realignment - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 28, 2020	Jun. 28, 2020
Restructuring Cost and Reserve
Beginning balance		$ 8,624
Charges	$ 2,847	6,406
Payments		(10,620)
Ending balance	4,410	4,410
Severance and related employee costs
Restructuring Cost and Reserve
Beginning balance		7,548
Charges	830	975
Payments		(4,113)
Ending balance	4,410	4,410
Recruitment and relocation costs
Restructuring Cost and Reserve
Beginning balance		0
Charges	143	314
Payments		(314)
Ending balance	0	0
Third-party and other costs
Restructuring Cost and Reserve
Beginning balance		1,076
Charges	1,874	5,117
Payments		(6,193)
Ending balance	0	0
Accrued expenses and other current liabilities
Restructuring Cost and Reserve
Ending balance	4,039	4,039
Other Liabilities
Restructuring Cost and Reserve
Ending balance	$ 371	$ 371

Reorganization and Realignmen_6

Reorganization and Realignment Costs G&A Realignment Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Restructuring Cost and Reserve
Reorganization and realignment costs	$ 2,911	$ 3,570	$ 6,821	$ 4,368
G&A Realignment
Restructuring Cost and Reserve
Restructuring and Related Cost, Incurred Cost	(6)	2,683	162	3,285
Restructuring and Related Cost, Cost Incurred to Date	29,126		29,126
Reorganization and realignment costs	64	3,517	331	4,299
Restructuring Charges, Incurred to Date	38,528		38,528
G&A Realignment | Severance and related employee costs
Restructuring Cost and Reserve
Restructuring and Related Cost, Incurred Cost	(6)	2,130	146	2,602
Restructuring and Related Cost, Cost Incurred to Date	24,384		24,384
G&A Realignment | Recruitment and relocation costs
Restructuring Cost and Reserve
Restructuring and Related Cost, Incurred Cost	0	482	15	596
Restructuring and Related Cost, Cost Incurred to Date	2,531		2,531
G&A Realignment | Third-party and other costs
Restructuring Cost and Reserve
Restructuring and Related Cost, Incurred Cost	0	71	1	87
Restructuring and Related Cost, Cost Incurred to Date	2,211		2,211
G&A Realignment | Share based compensation
Restructuring Cost and Reserve
Restructuring and Related Cost, Incurred Cost	70	834	169	1,014
Restructuring and Related Cost, Cost Incurred to Date	8,067		8,067
G&A Realignment | Termination of defined benefit plans
Restructuring Cost and Reserve
Restructuring and Related Cost, Incurred Cost	0	$ 0	0	$ 0
Restructuring and Related Cost, Cost Incurred to Date	$ 1,335		$ 1,335

Reorganization and Realignmen_7

Reorganization and Realignment Costs G&A Realignment Accrual Rollforward (Details) - G&A Realignment - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Restructuring Cost and Reserve
Beginning balance			$ 5,359	$ 7,324
Charges	$ (6)	$ 2,683	162	3,285
Payments			(2,708)	(5,167)
Ending balance	2,813	5,442	2,813	5,442
Severance and related employee costs
Restructuring Cost and Reserve
Beginning balance			5,276	7,241
Charges	(6)	2,130	146	2,602
Payments			(2,671)	(4,724)
Ending balance	2,751	5,119	2,751	5,119
Recruitment and relocation
Restructuring Cost and Reserve
Beginning balance			83	83
Charges	0	482	15	596
Payments			(36)	(356)
Ending balance	62	323	62	323
Third-party and other costs
Restructuring Cost and Reserve
Beginning balance			0	0
Charges	0	71	1	87
Payments			(1)	(87)
Ending balance	0	0	0	0
Accrued expenses and other current liabilities
Restructuring Cost and Reserve
Ending balance	2,705	4,835	2,705	4,835
Other Liabilities
Restructuring Cost and Reserve
Ending balance	$ 108	$ 607	$ 108	$ 607

Reorganization and Realignmen_8

Reorganization and Realignment Costs System Optimization Costs (Details) $ in Thousands	Jun. 28, 2020USD ($)
System Optimization
Restructuring Cost and Reserve
Restructuring and Related Cost, Cost Incurred to Date	$ 72,365

Cash and Receivables Cash and C

Cash and Receivables Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019	Jun. 30, 2019	Dec. 30, 2018
Cash and Cash Equivalents
Cash	$ 202,939	$ 185,203
Cash equivalents		114,992
Cash and cash equivalents	338,002	300,195
Restricted cash and cash equivalents, current	30,606	34,539
Total restricted cash and cash equivalents, current	71,456	58,512
Total cash, cash equivalents and restricted cash	409,458	358,707	$ 484,346	$ 486,512
Restricted cash
Cash and Cash Equivalents
Restricted cash and cash equivalents, current	30,606	34,539
Restricted cash | Accounts held by trustee for the securitized financing facility
Cash and Cash Equivalents
Restricted cash and cash equivalents, current	30,274	34,209
Restricted cash | Other
Cash and Cash Equivalents
Restricted cash and cash equivalents, current	332	330
Advertising funds restricted assets
Cash and Cash Equivalents
Restricted cash and cash equivalents, current	$ 40,850	$ 23,973

Cash and Receivables Accounts a

Cash and Receivables Accounts and Notes Receivable (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2020	Dec. 29, 2019	Jun. 30, 2019	Dec. 30, 2018
Accounts, Notes, Loans and Financing Receivable
Accounts receivable, gross, current	$ 125,021	$ 103,852
Accounts receivable, allowance for doubtful accounts, current	(4,404)	(3,314)
Accounts receivable, net, current	120,617	100,538
Notes receivable from franchisees, gross, current	18,572	23,628
Notes receivable, allowance for doubtful accounts, current	(4,670)	(6,705)
Notes receivable from franchisees, net, current	13,902	16,923
Accounts and notes receivables, gross, current	143,593	127,480
Accounts and notes receivable, allowance for doubtful accounts, current	(9,074)	(10,019)
Accounts and notes receivable, net, current	134,519	117,461
Notes receivable from franchisees, gross, noncurrent	6,425	1,617
Notes receivable from franchisees, allowance for doubtful accounts, noncurrent	(835)	0
Notes receivable from franchisees, net, noncurrent	5,590	1,617
Income taxes receivable	5,933	13,555
Notes receivable, allowance for doubtful accounts	(5,505)	(6,705)	$ (3,850)	$ (2,000)
Royalty receivables
Accounts, Notes, Loans and Financing Receivable
Increase (Decrease) in Accounts Receivable	47,740
Rent receivables
Accounts, Notes, Loans and Financing Receivable
Increase (Decrease) in Accounts Receivable	6,111
Accounts and notes receivable, net
Accounts, Notes, Loans and Financing Receivable
Income taxes receivable	5,933	13,555
Insurance settlements receivable		25,350
Sales-type and direct financing leases, lease receivable	3,780	3,146
U.S. franchisee
Accounts, Notes, Loans and Financing Receivable
Notes receivable from franchisees, gross, current		1,000
India franchisee
Accounts, Notes, Loans and Financing Receivable
Notes receivable from franchisees, gross, current	150	1,000
Notes receivable from franchisees, gross, noncurrent	1,010
Notes receivable, allowance for doubtful accounts	(985)	(985)
Indonesia franchisee
Accounts, Notes, Loans and Financing Receivable
Notes receivable from franchisees, gross, current	1,367	1,262
Notes receivable from franchisees, gross, noncurrent	1,065	1,617
Brazil JV
Accounts, Notes, Loans and Financing Receivable
Notes receivable from franchisees, gross, current	11,975	15,920
Notes receivable, allowance for doubtful accounts, current	(4,520)	$ (5,720)
Notes receivable from franchisees, gross, noncurrent	$ 4,350

Cash and Receivables Allowance

Cash and Receivables Allowance for Doubtful Accounts Receivable (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019
Allowance for Doubtful Accounts
Balance at beginning of period; accounts receivable	$ 3,314	$ 4,940
Provision for doubtful accounts; accounts receivable	1,156	(754)
Uncollectible accounts written off, net of recoveries; accounts receivable	(66)	(139)
Balance at end of period; accounts receivable	4,404	4,047
Balance at beginning of period; notes receivable	6,705	2,000
Provision for doubtful accounts; notes receivable	(8)	1,843
Uncollectible accounts written off, net of recoveries; notes receivable	(1,192)	7
Balance at end of period; notes receivable	5,505	3,850
Balance at beginning of period; total	10,019	6,940
Provision for doubtful accounts; total	1,148	1,089
Uncollectible accounts written off, net of recoveries; total	(1,258)	(132)
Balance at end of period; total	$ 9,909	$ 7,897

Investments Equity Investment S

Investments Equity Investment Summary (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Schedule of Equity Method Investments
Foreign currency translation adjustment included in “Other comprehensive (loss) income” and other	$ 4,149	$ 3,835	$ (8,358)	$ 9,860
TimWen
Schedule of Equity Method Investments
Equity Method Investment, Ownership Percentage	50.00%		50.00%
Equity Method Investment, Purchase Price Adjustment, Amortization Period			21 years	21 years
Brazil JV
Schedule of Equity Method Investments
Equity Method Investment, Ownership Percentage	20.00%		20.00%
TimWen and Brazil JV
Schedule of Equity Method Investments
Balance at beginning of period			$ 45,310	$ 47,021
Equity in earnings for the period			3,455	6,048
Amortization of purchase price adjustments			(1,105)	(1,129)
Equity in earnings for the period, net of amortization of purchase price adjustments			2,350	4,919
Distributions received			(3,612)	(7,018)
Foreign currency translation adjustment included in “Other comprehensive (loss) income” and other			(1,631)	2,359
Balance at end of period	$ 42,417	$ 47,281	$ 42,417	$ 47,281

Long-Term Debt Schedule of Long

Long-Term Debt Schedule of Long Term Debt (Details) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Debt Instrument
Unamortized debt issuance costs	$ (33,085)	$ (33,526)
Total debt	2,385,474	2,280,311
Less amounts payable within one year	(146,769)	(22,750)
Total long-term debt	2,238,705	2,257,561
Series 2019-1 Class A-2-I Notes
Debt Instrument
Senior Notes	$ 392,000	$ 398,000
Debt Instrument, Interest Rate, Stated Percentage	3.783%	3.783%
Series 2019-1 Class A-2-II Notes
Debt Instrument
Senior Notes	$ 441,000	$ 447,750
Debt Instrument, Interest Rate, Stated Percentage	4.08%	4.08%
Series 2018-1 Class A-2-I Notes
Debt Instrument
Senior Notes	$ 438,750	$ 441,000
Debt Instrument, Interest Rate, Stated Percentage	3.573%	3.573%
Series 2018-1 Class A-2-II Notes
Debt Instrument
Senior Notes	$ 463,125	$ 465,500
Debt Instrument, Interest Rate, Stated Percentage	3.884%	3.884%
Series 2015-1 Class A-2-III Notes
Debt Instrument
Senior Notes	$ 476,250	$ 478,750
Debt Instrument, Interest Rate, Stated Percentage	4.497%	4.497%
Series 2019-1 Class A-1 Variable Funding Senior Secured Notes
Debt Instrument
Lines of Credit	$ 120,000	$ 0
Canadian revolving credit facility
Debt Instrument
Lines of Credit	4,019	0
7% Debentures
Debt Instrument
7% debentures, due in 2025	$ 83,415	$ 82,837
Debt Instrument, Interest Rate, Stated Percentage	7.00%	7.00%

Long-Term Debt Senior Notes (De

Long-Term Debt Senior Notes (Details) - USD ($) $ in Thousands	Jul. 30, 2020	Mar. 29, 2020	Jun. 28, 2020	Dec. 29, 2019
Debt Instrument
Letters of Credit Outstanding, Amount			$ 26,374
Series 2019-1 Class A-1 Notes
Debt Instrument
Line of Credit, Outstanding, Amount			120,000	$ 0
Series 2019-1 Class A-1 Notes | Line of Credit
Debt Instrument
Line of Credit Facility, Maximum Borrowing Capacity			150,000
Proceeds from Lines of Credit		$ 120,000
Line of Credit, Outstanding, Amount			$ 120,000
Series 2019-1 Class A-1 Notes | Line of Credit | Subsequent Event
Debt Instrument
Repayments of Lines of Credit	$ 120,000
Series 2019-1 Class A-1 Notes | Line of Credit | Minimum
Debt Instrument
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage			0.40%
Series 2019-1 Class A-1 Notes | Line of Credit | Maximum
Debt Instrument
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage			0.75%
Series 2019-1 Class A-1 Notes | Letter of Credit
Debt Instrument
Letters of Credit Outstanding, Amount			$ 26,040
Series 2020-1 Class A-1 Notes
Debt Instrument
Debt Issuance Costs, Gross			2,122
Series 2020-1 Class A-1 Notes | Line of Credit
Debt Instrument
Line of Credit Facility, Maximum Borrowing Capacity			100,000
Line of Credit, Outstanding, Amount			$ 0
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage			1.50%

Long-Term Debt Other Long-term

Long-Term Debt Other Long-term Debt Disclosure (Details) $ in Thousands, $ in Thousands	Mar. 29, 2020USD ($)	Mar. 29, 2020CAD ($)	Feb. 29, 2020USD ($)	Jun. 28, 2020USD ($)	Jun. 28, 2020CAD ($)
Canadian Subsidiary
Debt Instrument
Line of Credit Facility, Maximum Borrowing Capacity					$ 6,000
Proceeds from Lines of Credit		$ 5,500
Line of Credit, Outstanding, Amount					$ 5,500
Wendy's U.S. Advertising Fund
Debt Instrument
Line of Credit Facility, Maximum Borrowing Capacity				$ 25,000
Debt Instrument, Basis Spread on Variable Rate				2.75%
Proceeds from Lines of Credit	$ 25,000		$ 4,397
Repayments of Lines of Credit			$ 4,397
Line of Credit, Outstanding, Amount				$ 25,000

Fair Value Measurements Financi

Fair Value Measurements Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Reported Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash equivalents	$ 135,063	$ 114,992
Other investments in equity securities	175	639
Reported Value Measurement | Series 2019-1 Class A-2-I Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt instrument	392,000	398,000
Reported Value Measurement | Series 2019-1 Class A-2-II Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt instrument	441,000	447,750
Reported Value Measurement | Series 2018-1 Class A-2-I Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt instrument	438,750	441,000
Reported Value Measurement | Series 2018-1 Class A-2-II Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt instrument	463,125	465,500
Reported Value Measurement | Series 2015-1 Class A-2-III Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt instrument	476,250	478,750
Reported Value Measurement | Series 2019-1 Class A-1 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt instrument	120,000	0
Reported Value Measurement | U.S. advertising fund revolving line of credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt instrument	25,000	0
Reported Value Measurement | Canadian revolving credit facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt instrument	4,019	0
Reported Value Measurement | 7% Debentures
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt instrument	83,415	82,837
Estimate of Fair Value Measurement | Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash equivalents	135,063	114,992
Estimate of Fair Value Measurement | Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Other investments in equity securities	175	1,649
Estimate of Fair Value Measurement | Series 2019-1 Class A-2-I Notes | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt instrument	410,071	405,152
Estimate of Fair Value Measurement | Series 2019-1 Class A-2-II Notes | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt instrument	468,518	459,136
Estimate of Fair Value Measurement | Series 2018-1 Class A-2-I Notes | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt instrument	451,298	444,859
Estimate of Fair Value Measurement | Series 2018-1 Class A-2-II Notes | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt instrument	487,624	475,718
Estimate of Fair Value Measurement | Series 2015-1 Class A-2-III Notes | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt instrument	488,490	490,531
Estimate of Fair Value Measurement | Series 2019-1 Class A-1 Notes | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt instrument	116,100	0
Estimate of Fair Value Measurement | U.S. advertising fund revolving line of credit | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt instrument	25,000	0
Estimate of Fair Value Measurement | Canadian revolving credit facility | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt instrument	4,019	0
Estimate of Fair Value Measurement | 7% Debentures | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt instrument	$ 83,415	$ 94,838

Fair Value Measurements Non-Rec

Fair Value Measurements Non-Recurring Fair Value Measurements (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis
Assets Held and used, Long Lived, Fair Value Disclosure	$ 341	$ 3,582
Assets Held for sale, Long Lived, Fair Value Disclosure	1,440	988
Total	1,781	4,570
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis
Assets Held and used, Long Lived, Fair Value Disclosure	0	0
Assets Held for sale, Long Lived, Fair Value Disclosure	0	0
Total	0	0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis
Assets Held and used, Long Lived, Fair Value Disclosure	0	0
Assets Held for sale, Long Lived, Fair Value Disclosure	0	0
Total	0	0
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis
Assets Held and used, Long Lived, Fair Value Disclosure	341	3,582
Assets Held for sale, Long Lived, Fair Value Disclosure	1,440	988
Total	$ 1,781	$ 4,570

Impairment of Long-Lived Asse_3

Impairment of Long-Lived Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Impairment of Long-Lived Assets
Impairment of long-lived assets	$ 117	$ 198	$ 4,704	$ 1,684
Company-operated restaurants
Impairment of Long-Lived Assets
Impairment of long-lived assets	0	86	4,395	287
Surplus properties
Impairment of Long-Lived Assets
Impairment of long-lived assets	$ 117	$ 112	$ 309	$ 1,397

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019	Dec. 29, 2019
Effective Income Tax Rate	20.80%	29.20%	25.40%	24.90%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%	21.00%
Decrease in Unrecognized Tax Benefits is Reasonably Possible	$ 1,319		$ 1,319
Income Taxes Receivable, Current	5,933		5,933		$ 13,555
Income Taxes Receivable, Noncurrent	$ 0		$ 0		$ 0

Net Income Per Share (Details)

Net Income Per Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Common Stock:
Weighted average basic shares outstanding	223,123	231,029	223,329	230,807
Dilutive effect of stock options and restricted shares	4,051	5,064	4,262	5,186
Weighted average diluted shares outstanding	227,174	236,093	227,591	235,993
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,636	2,049	2,652	2,104

Stockholders' Equity Dividends

Stockholders' Equity Dividends (Details) - $ / shares	3 Months Ended
	Jun. 28, 2020	Mar. 29, 2020	Jun. 30, 2019	Mar. 31, 2019
Dividend Paid [Member]
Common Stock, Dividends, Per Share, Cash Paid	$ 0.05	$ 0.12	$ 0.10	$ 0.10

Stockholders' Equity Repurchase

Stockholders' Equity Repurchases of Common Stock (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Feb. 29, 2020	Nov. 30, 2019	Feb. 29, 2020	Jun. 28, 2020	Jun. 30, 2019	Feb. 28, 2019	Nov. 30, 2018
February 2020 Share Repurchase Program
Equity, Class of Treasury Stock
Stock Repurchase Program, Authorized Amount	$ 100,000		$ 100,000
Treasury Stock, Shares, Acquired				779
Treasury Stock, Value, Acquired, Cost Method, excluding Commissions				$ 14,537
Stock Repurchase Program, Cost Incurred				11
Stock Repurchase Program, Remaining Authorized Repurchase Amount				$ 85,463
February 2019 Share Repurchase Program
Equity, Class of Treasury Stock
Stock Repurchase Program, Authorized Amount						$ 225,000
Treasury Stock, Shares, Acquired				1,312
Treasury Stock, Value, Acquired, Cost Method, excluding Commissions				$ 28,770
Stock Repurchase Program, Cost Incurred				$ 18
2019 Accelerated Share Repurchase Program
Equity, Class of Treasury Stock
Stock Repurchase Program, Authorized Amount		$ 100,000
Treasury Stock, Shares, Acquired	628	4,051	4,679
Initial Shares Delivered Under ASR Agreement Percentage		85.00%
Treasury Stock Acquired, Average Cost Per Share			$ 21.37
November 2018 and February 2019 Share Repurchase Programs
Equity, Class of Treasury Stock
Stock Repurchase Program, Authorized Amount							$ 220,000
Treasury Stock, Shares, Acquired					2,824
Treasury Stock, Value, Acquired, Cost Method, excluding Commissions					$ 49,721
Stock Repurchase Program, Cost Incurred					40
Stock Repurchase Program, Repurchase Accrual					$ 807

Stockholders' Equity Accumulate

Stockholders' Equity Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 28, 2020	Mar. 29, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 28, 2020	Jun. 30, 2019
Accumulated Other Comprehensive Loss
Balance at beginning of period		$ (53,828)			$ (53,828)
Foreign currency translation	$ 4,149	(12,507)	$ 3,835	$ 6,025	(8,358)	$ 9,860
Balance at end of period	(62,186)				(62,186)
Foreign Currency Translation
Accumulated Other Comprehensive Loss
Balance at beginning of period		$ (53,828)		$ (61,673)	(53,828)	(61,673)
Foreign currency translation					(8,358)	9,860
Balance at end of period	$ (62,186)		$ (51,813)		$ (62,186)	$ (51,813)

Leases Lessee Lease Narrative (

Leases Lessee Lease Narrative (Details)	Jun. 28, 2020number_of_restaurants
Lessee, Lease, Description
Number of restaurants	6,806
Entity Operated Units
Lessee, Lease, Description
Number of restaurants	358
Land And Building - Company Owned | Entity Operated Units
Lessee, Lease, Description
Number of restaurants	142
Building - Company Owned; Land - Leased | Entity Operated Units
Lessee, Lease, Description
Number of restaurants	146
Land And Building - Leased | Entity Operated Units
Lessee, Lease, Description
Number of restaurants	70

Leases Lessor Lease Narrative (

Leases Lessor Lease Narrative (Details)	Jun. 28, 2020number_of_restaurants
Lessor, Lease, Description
Number of restaurants	6,806
Land And Building - Company Owned | Franchised Units
Lessor, Lease, Description
Number of restaurants	510
Land And Building - Leased | Franchised Units
Lessor, Lease, Description
Number of restaurants	1,243

Leases Components of Lease Cost

Leases Components of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Finance Lease, Cost
Amortization of finance lease assets	$ 3,338	$ 1,631	$ 6,524	$ 4,748
Interest on finance lease liabilities	10,160	9,939	20,218	16,692
Total finance lease cost	13,498	11,570	26,742	21,440
Lease, Cost
Operating lease cost	23,969	19,086	45,134	43,729
Variable lease cost	13,848	15,371	28,218	29,475
Short-term lease cost	991	1,153	2,321	2,279
Total operating lease cost	38,808	35,610	75,673	75,483
Total lease cost	52,306	47,180	102,415	96,923
Franchise rental expense
Lease, Cost
Total operating lease cost	31,263	28,022	60,554	60,473
Cost of sales
Lease, Cost
Total operating lease cost	6,831	7,007	13,664	13,600
Executory costs paid by lessee
Lease, Cost
Variable lease cost	$ 9,457	$ 9,779	$ 19,200	$ 19,303

Leases Components of Lease Inco

Leases Components of Lease Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Lessor Lease Income
Sales-type leases, selling profit	$ 569	$ 37	$ 1,197	$ 1,971
Sales-type and direct-financing leases, interest income	7,260	7,072	14,508	11,805
Operating lease rental income	43,052	43,959	87,004	89,164
Variable lease income	13,805	14,602	27,709	27,849
Franchise rental income	56,857	58,561	114,713	117,013
Sublease income	41,489	42,921	83,531	85,942
Executory costs paid to lessor
Lessor Lease Income
Variable lease income	$ 9,450	$ 9,779	$ 19,159	$ 19,211

Transactions with Related Par_2

Transactions with Related Parties (Details) - TimWen - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019
Related Party Transaction
TimWen lease expense	$ 7,408	$ 8,140
General and administrative
Related Party Transaction
Related Party Transaction, Other Income from Transactions with Related Party	$ 101	$ 103

Guarantees and Other Commitme_2

Guarantees and Other Commitments and Contingencies Lease Guarantees (Details) $ in Thousands	Jun. 28, 2020USD ($)
Property Lease Guarantee
Guarantor Obligations
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 74,538

Guarantees and Other Commitme_3

Guarantees and Other Commitments and Contingencies Letters of Credit (Details) $ in Thousands	Jun. 28, 2020USD ($)
Guarantor Obligations
Letters of Credit Outstanding, Amount	$ 26,374

Segment Information Reconciliat

Segment Information Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Segment Reporting, Revenue Reconciling Item
Total revenues	$ 402,306	$ 435,348	$ 807,266	$ 843,931
Wendy's U.S.
Segment Reporting, Revenue Reconciling Item
Total revenues	331,258	359,155	662,299	692,641
Wendy's International
Segment Reporting, Revenue Reconciling Item
Total revenues	14,003	17,030	29,475	33,028
Global Real Estate & Development
Segment Reporting, Revenue Reconciling Item
Total revenues	$ 57,045	$ 59,163	$ 115,492	$ 118,262

Segment Information Schedule of

Segment Information Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Segment Reporting Information
Segment profit	$ 60,661	$ 80,573	$ 109,393	$ 146,839
Advertising funds deficit	(1,020)	(2,055)	(2,407)	(2,055)
Unallocated general and administrative	(48,592)	(50,784)	(100,231)	(100,097)
Depreciation and amortization	(34,714)	(31,484)	(65,760)	(64,669)
System optimization gains, net	1,987	110	2,310	122
Reorganization and realignment costs	(2,911)	(3,570)	(6,821)	(4,368)
Impairment on long-lived assets	(117)	(198)	(4,704)	(1,684)
Unallocated other operating income, net	1,396	3,003	3,328	6,985
Interest expense, net	(29,085)	(29,931)	(57,610)	(59,013)
Loss on early extinguishment of debt	0	(7,150)	0	(7,150)
Other (expense) income, net	(144)	2,247	932	4,947
Income before income taxes	31,432	45,739	52,715	85,623
Corporate and Other
Segment Reporting Information
Unallocated general and administrative	(23,051)	(20,610)	(47,170)	(41,352)
Unallocated other operating income, net	46	26	91	137
Operating Segments
Segment Reporting Information
Segment profit	120,441	138,354	233,854	260,708
Operating Segments | Wendy's U.S.
Segment Reporting Information
Segment profit	93,136	102,973	174,964	192,627
Advertising funds deficit	(2,185)		(2,185)
Operating Segments | Wendy's International
Segment Reporting Information
Segment profit	3,594	5,482	8,689	11,229
Operating Segments | Global Real Estate & Development
Segment Reporting Information
Segment profit	$ 23,711	$ 29,899	$ 50,201	$ 56,852

Uncategorized Items - wen-20200

Label	Element	Value
Restricted cash included in advertising funds restricted assets	wen_Restrictedcashincludedinadvertisingfundsrestrictedassets	$ 40,850,000
Restricted cash included in advertising funds restricted assets	wen_Restrictedcashincludedinadvertisingfundsrestrictedassets	$ 23,973,000