
	July 2, 2023		January 1, 2023
Equity method investments	$	34,165	$	33,921
Other investments in equity securities	1,718		12,107
	$	35,883	$	46,028

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.). The Company has significant influence over this investee. Such investment is accounted for using the equity method, under which our results of operations include our share of the income of the investee in “Other operating income, net.”

Presented below is activity related to our investment in TimWen included in our condensed consolidated financial statements:


	Six Months Ended
	July 2, 2023		July 3, 2022
Balance at beginning of period	$	33,921	$	39,870

Equity in earnings for the period	6,343		5,736
Amortization of purchase price adjustments (a)	(1,373)		(1,455)
	4,970		4,281
Distributions received	(5,512)		(5,389)
Foreign currency translation adjustment included in “Other comprehensive income (loss)” and other	786		(674)
Balance at end of period	$	34,165	$	38,088

(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.

During 2021, the Company made an investment in equity securities of $10,000 and, during the six months ended July 3, 2022, recognized a gain of $2,107 as a result of an observable price change for a similar investment of the same issuer. During the three and six months ended July 2, 2023, the Company recorded impairment charges of $6,827 and $10,389, respectively, for the difference between the estimated fair value and the carrying value of the investment.