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(23) Lease Commitments | 12 Months Ended
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Jan. 01, 2012
Lease Commitments [Abstract] |
Leases | Lease Commitments The Companies lease real property, leasehold interests, and restaurant, transportation, and office equipment. Some leases which relate to restaurant operations provide for contingent rentals based on sales volume. Certain leases also provide for payments of other costs such as real estate taxes, insurance and common area maintenance, which are not included in rental expense or the future minimum rental payments set forth below. Rental expense under operating leases consists of the following components:
|  | 2011
|  | Wendy’s Restaurants |  | Corporate |  | The Wendy’s Company
Minimum rentals |  | $ | 69,329 |  |  | $ | 1,149 |  |  | $ | 70,478 |
Contingent rentals |  | 10,468 |  |  | — |  |  | 10,468 |
|  | 79,797 |  |  | 1,149 |  |  | 80,946 |
Less sublease income |  | (13,746 | ) |  | (1,338 | ) |  | (15,084 | )
|  | $ | 66,051 |  |  | $ | (189 | ) |  | $ | 65,862 |
|  | 2010
|  | Wendy’s Restaurants |  | Corporate |  | The Wendy’s Company
Minimum rentals |  | $ | 67,587 |  |  | $ | 1,262 |  |  | $ | 68,849 |
Contingent rentals |  | 10,033 |  |  | — |  |  | 10,033 |
|  | 77,620 |  |  | 1,262 |  |  | 78,882 |
Less sublease income |  | (12,769 | ) |  | (1,506 | ) |  | (14,275 | )
|  | $ | 64,851 |  |  | $ | (244 | ) |  | $ | 64,607 |
|  | 2009
|  | Wendy’s Restaurants |  | Corporate |  | The Wendy’s Company
Minimum rentals |  | $ | 69,602 |  |  | $ | 1,723 |  |  | $ | 71,325 |
Contingent rentals |  | 10,664 |  |  | — |  |  | 10,664 |
|  | 80,266 |  |  | 1,723 |  |  | 81,989 |
Less sublease income |  | (13,877 | ) |  | (1,580 | ) |  | (15,457 | )
|  | $ | 66,389 |  |  | $ | 143 |  |  | $ | 66,532 |
The Companies’ future minimum rental payments and rental receipts, for non-cancelable leases, including rental receipts for leased properties owned by the Companies, having an initial lease term in excess of one year as of January 1, 2012, are as follows:
| Rental Payments |  | Rental Receipts
Fiscal Year | Sale- Leaseback Obligations |  | Capitalized Leases |  | Operating Leases (a) |  | Sale- Leaseback Obligations |  | Capitalized Leases |  | Operating Leases (a) |  | Owned Properties
2012 | $ | 95 |  |  | $ | 2,779 |  |  | $ | 75,161 |  |  | $ | 117 |  |  | $ | 536 |  |  | $ | 6,433 |  |  | $ | 3,968 |
2013 | 103 |  |  | 2,480 |  |  | 67,035 |  |  | 117 |  |  | 536 |  |  | 5,231 |  |  | 3,666 |
2014 | 106 |  |  | 2,442 |  |  | 61,581 |  |  | 117 |  |  | 536 |  |  | 4,645 |  |  | 3,576 |
2015 | 120 |  |  | 2,464 |  |  | 57,115 |  |  | 117 |  |  | 536 |  |  | 4,159 |  |  | 3,539 |
2016 | 111 |  |  | 2,073 |  |  | 52,890 |  |  | 117 |  |  | 536 |  |  | 3,665 |  |  | 3,492 |
Thereafter | 2,699 |  |  | 19,882 |  |  | 644,883 |  |  | 1,464 |  |  | 4,630 |  |  | 24,826 |  |  | 36,007 |
Total minimum payments | 3,234 |  |  | 32,120 |  |  | $ | 958,665 |  |  | $ | 2,049 |  |  | $ | 7,310 |  |  | $ | 48,959 |  |  | $ | 54,248 |
Less amounts representing interest, with interest rates between 3% and 33% | (1,768 | ) |  | (16,898 | ) |  |  |  |  |  |  |  |  |  |
Present value of minimum sale leaseback and capitalized lease payments | $ | 1,466 |  |  | $ | 15,222 |  |  |  |  |  |  |  |  |  |  |
_____________________
(a) | In addition to the amounts presented in the table above, The Wendy’s Company will have rental payments of $711 and rental receipts of $580 in 2012 under the lease for The Wendy’s Company’s former corporate headquarters and from the sublease for office space on two of the floors covered under the lease to a management company formed by our Chairman, who was our former Chief Executive Officer, our Vice Chairman, who was our former President and Chief Operating Officer, and a director, who was our former Vice Chairman (the “Management Company”).
As of January 1, 2012, the Companies had $83,343 of “Favorable leases,” net of accumulated amortization, included in “Other intangible assets” and $49,430 of unfavorable leases included in “Other liabilities,” or $33,913 of net favorable leases. The future minimum rental payments set forth above reflect the rent expense to be recognized over the lease terms and, accordingly, have been increased by the $33,913 of net favorable leases, net of (1) $23,582 of Straight-Line Rent and (2) $1,186 which represents amounts advanced by landlords for improvements of leased facilities and reimbursed through future rent payments, less payments to lessees for the right to assume leases which have below market rent. Estimated sublease future rental receipts exclude sublessor rental obligations for closed locations. Properties leased by the Companies to third parties under capitalized leases and operating leases as of January 1, 2012 and January 2, 2011 include:
|  | Year End
|  | 2011 |  | 2010
Land |  | $ | 24,211 |  |  | $ | 27,434 |
Buildings and improvements |  | 58,505 |  |  | 64,825 |
Office, restaurant and transportation equipment |  | 4,377 |  |  | 4,133 |
|  | 87,093 |  |  | 96,392 |
Accumulated depreciation and amortization |  | (20,019 | ) |  | (18,344 | )
|  | $ | 67,074 |  |  | $ | 78,048 |
The present values of minimum sale-leaseback and capitalized lease payments are included either in “Long-term debt” or “Current portion of long-term debt,” as applicable.

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41499-112717 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph (Note 1,3) -URI http://asc.fasb.org/extlink&oid=6584154&loc=d3e38371-112697 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41502-112717 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6452660&loc=d3e36991-112694 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6851643&loc=d3e12069-110248 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 13 -Paragraph 16 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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