The Wendy’s Company (NASDAQ: WEN) operates, develops, and franchises a quick-service restaurant franchise system. Wendy's U.S., Wendy's International, and Wendy's Global Real Estate & Development are the company's three segments. The Wendy's U.S. segment includes Wendy's restaurant operations and franchising in the United States. Wendy's International is responsible for operating and franchising Wendy's restaurants in countries and territories outside of the United States. The Global Real Estate & Development segment includes real estate activity for owned and leased from third-party sites that are hired and/or subleased to franchisees and its share of the TimWen real estate joint venture's income.