v3.24.3
Revenue
 9 Months Ended
Sep. 29, 2024
Revenue [Abstract]  
Revenue Revenue
Disaggregation of Revenue

The following tables disaggregate revenue by segment and source:
Wendy’s U.S.Wendy’s InternationalGlobal Real Estate & DevelopmentTotal
Three Months Ended September 29, 2024
Sales at Company-operated restaurants$222,745 $7,658 $— $230,403 
Franchise royalty revenue114,379 18,222 — 132,601 
Franchise fees17,859 2,306 1,102 21,267 
Franchise rental income— — 59,314 59,314 
Advertising funds revenue113,742 9,412 — 123,154 
Total revenues$468,725 $37,598 $60,416 $566,739 
Three Months Ended October 1, 2023
Sales at Company-operated restaurants$227,674 $7,047 $— $234,721 
Franchise royalty revenue112,698 17,390 — 130,088 
Franchise fees17,079 1,597 581 19,257 
Franchise rental income— — 57,567 57,567 
Advertising funds revenue99,789 9,133 — 108,922 
Total revenues$457,240 $35,167 $58,148 $550,555 
Wendy’s U.S.Wendy’s InternationalGlobal Real Estate & DevelopmentTotal
Nine Months Ended September 29, 2024
Sales at Company-operated restaurants$673,364 $19,717 $— $693,081 
Franchise royalty revenue341,229 53,370 — 394,599 
Franchise fees53,511 6,584 3,344 63,439 
Franchise rental income— — 177,938 177,938 
Advertising funds revenue316,059 27,103 — 343,162 
Total revenues$1,384,163 $106,774 $181,282 $1,672,219 
Nine Months Ended October 1, 2023
Sales at Company-operated restaurants$685,168 $18,190 $— $703,358 
Franchise royalty revenue333,958 50,408 — 384,366 
Franchise fees51,812 4,515 3,377 59,704 
Franchise rental income— — 173,407 173,407 
Advertising funds revenue296,043 24,049 — 320,092 
Total revenues$1,366,981 $97,162 $176,784 $1,640,927 

Contract Balances

The following table provides information about receivables and contract liabilities (deferred franchise fees) from contracts with customers:
September 29,
2024 (a)		December 31, 2023 (a)
Receivables, which are included in “Accounts and notes receivable, net” (b)
$54,814 $55,293 
Receivables, which are included in “Advertising funds restricted assets”
68,354 76,838 
Deferred franchise fees (c)100,754 100,805 
_______________

(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)Deferred franchise fees are included in “Accrued expenses and other current liabilities” and “Deferred franchise fees” and totaled $11,454 and $89,300, respectively, as of September 29, 2024, and $10,673 and $90,132, respectively, as of December 31, 2023.

Significant changes in deferred franchise fees are as follows:
Nine Months Ended
September 29,
2024		October 1,
2023
Deferred franchise fees at beginning of period$100,805 $99,208 
Revenue recognized during the period
(8,873)(9,016)
New deferrals due to cash received and other8,822 9,697 
Deferred franchise fees at end of period$100,754 $99,889 
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:
2024 (a)$6,427 
20256,685 
20266,546 
20276,439 
20286,320 
Thereafter68,337 
$100,754 
_______________

(a)Represents franchise fees expected to be recognized for the remainder of 2024, which includes development-related franchise fees expected to be recognized over a duration of one year or less.