| Long-term debt |
Long-term debt consisted of the following: | | | | | | | | | | | | | July 2,
2023 | | January 1,
2023 | | Series 2022-1 Class A-2 Notes: | | | | 4.236% Series 2022-1 Class A-2-I Notes, anticipated repayment date 2029 | $ | 99,000 | | | $ | 99,500 | | 4.535% Series 2022-1 Class A-2-II Notes, anticipated repayment date 2032 | 396,000 | | | 398,000 | | | Series 2021-1 Class A-2 Notes: | | | | 2.370% Series 2021-1 Class A-2-I Notes, anticipated repayment date 2029 | 441,000 | | | 443,250 | | 2.775% Series 2021-1 Class A-2-II Notes, anticipated repayment date 2031 | 637,000 | | | 640,250 | | | Series 2019-1 Class A-2 Notes: | | | | 3.783% Series 2019-1 Class A-2-I Notes, anticipated repayment date 2026 | 362,000 | | | 364,000 | | 4.080% Series 2019-1 Class A-2-II Notes, anticipated repayment date 2029 | 407,250 | | | 409,500 | | | Series 2018-1 Class A-2 Notes: | | | | 3.884% Series 2018-1 Class A-2-II Notes, anticipated repayment date 2028 | 448,875 | | | 451,250 | | 7% debentures, due in 2025 (a) | 56,463 | | | 86,369 | | | Unamortized debt issuance costs | (37,242) | | | (40,673) | | | 2,810,346 | | | 2,851,446 | | | Less amounts payable within one year | (29,250) | | | (29,250) | | | Total long-term debt | $ | 2,781,096 | | | $ | 2,822,196 | |
_______________ (a)Wendy’s 7% debentures are unsecured and were reduced to fair value in connection with the 2008 merger of Triarc Companies, Inc. and Wendy’s International, Inc. (the “Wendy’s Merger”). The fair value adjustment is being accreted and the related charge included in “Interest expense, net” until the debentures mature. During the six months ended July 2, 2023, Wendy’s repurchased $31,571 in principal of its 7% debentures at par value. As a result, the Company recognized a loss on early extinguishment of debt of $1,266 during the six months ended July 2, 2023.
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