2015 Form 10-K Financial Statement

#000119312516481509 Filed on February 26, 2016

View on sec.gov

Income Statement

Concept 2015 2014 Q4 2014 Q3
Revenue $4.052B $417.8M $278.9M
YoY Change 238.02% 57.54% 1.38%
Cost Of Revenue $1.810B $108.7M $16.50M
YoY Change 1056.97%
Gross Profit $2.243B $309.1M $262.4M
YoY Change 171.35%
Gross Profit Margin 55.35% 73.98% 94.08%
Selling, General & Admin $437.7M $111.4M $78.30M
YoY Change 26.72%
% of Gross Profit 19.52% 36.04% 29.84%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $154.9M $20.10M $16.50M
YoY Change 202.54%
% of Gross Profit 6.91% 6.5% 6.29%
Operating Expenses $437.7M $113.1M $78.30M
YoY Change 26.72%
Operating Profit $1.192B -$102.6M $900.0K
YoY Change 558.31% -172.71% -99.38%
Interest Expense -$478.3M -$292.1M -$51.30M
YoY Change 71.0%
% of Operating Profit -40.12% -5700.0%
Other Income/Expense, Net -$2.600M $0.00 -$300.0K
YoY Change 188.89%
Pretax Income $546.9M -$385.8M -$50.40M
YoY Change -308.98%
Income Tax $162.2M -$4.500M -$26.90M
% Of Pretax Income 29.66%
Net Earnings $511.7M -$381.3M -$23.50M
YoY Change 217.04% -670.81% -134.46%
Net Earnings / Revenue 12.63% -91.26% -8.43%
Basic Earnings Per Share $0.51 -$1.60 -$0.07
Diluted Earnings Per Share $0.50 -$2.50 -$0.07
COMMON SHARES
Basic Shares Outstanding 203.5M shares 352.0M shares
Diluted Shares Outstanding 476.0M shares 352.0M shares

Balance Sheet

Concept 2015 2014 Q4 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $758.0M $1.803B
YoY Change -57.96%
Cash & Equivalents $758.0M $1.803B $1.014B
Short-Term Investments
Other Short-Term Assets $87.00M $280.0M
YoY Change -68.93%
Inventory $81.00M $97.80M
Prepaid Expenses
Receivables $420.0M $441.0M
Other Receivables $24.00M $19.00M
Total Short-Term Assets $1.370B $2.641B
YoY Change -48.13% 147.89%
LONG-TERM ASSETS
Property, Plant & Equipment $2.151B $2.437B
YoY Change -11.74% 203.99%
Goodwill $5.236B
YoY Change 731.06%
Intangibles $10.45B
YoY Change 273.57%
Long-Term Investments $117.0M $169.7M
YoY Change -17.02% 66.37%
Other Assets $1.052B $444.4M
YoY Change 136.94% 34.83%
Total Long-Term Assets $17.04B $18.70B
YoY Change -8.88% 296.22%
TOTAL ASSETS
Total Short-Term Assets $1.370B $2.641B
Total Long-Term Assets $17.04B $18.70B
Total Assets $18.41B $21.34B
YoY Change -13.74% 268.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $362.0M $223.0M
YoY Change 62.33% 617.04%
Accrued Expenses $297.0M $335.6M
YoY Change 4.95% 116.52%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $56.00M $1.109B
YoY Change -95.04% 1464.03%
Total Short-Term Liabilities $1.121B $1.946B
YoY Change -42.39% 462.37%
LONG-TERM LIABILITIES
Long-Term Debt $8.666B $8.827B
YoY Change -4.45% 211.1%
Other Long-Term Liabilities $796.0M $707.8M
YoY Change 12.43% 122.65%
Total Long-Term Liabilities $9.462B $9.534B
YoY Change -3.23% 202.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.121B $1.946B
Total Long-Term Liabilities $9.462B $9.534B
Total Liabilities $13.78B $13.71B
YoY Change -14.78% 221.05%
SHAREHOLDERS EQUITY
Retained Earnings $231.0M
YoY Change 2.44%
Common Stock $1.755B
YoY Change 41.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 0.000 shares
Shareholders Equity $4.634B $1.878B
YoY Change
Total Liabilities & Shareholders Equity $18.41B $21.34B
YoY Change -13.74% 268.91%

Cashflow Statement

Concept 2015 2014 Q4 2014 Q3
OPERATING ACTIVITIES
Net Income $511.7M -$381.3M -$23.50M
YoY Change 217.04% -670.81% -134.46%
Depreciation, Depletion And Amortization $154.9M $20.10M $16.50M
YoY Change 202.54%
Cash From Operating Activities $1.205B -$116.3M $162.5M
YoY Change 364.64%
INVESTING ACTIVITIES
Capital Expenditures $115.3M -$21.40M -$3.300M
YoY Change 273.14%
Acquisitions
YoY Change
Other Investing Activities -$3.700M -$7.760B $100.0K
YoY Change -192.5%
Cash From Investing Activities -$61.50M -$7.781B -$3.200M
YoY Change -99.21%
FINANCING ACTIVITIES
Cash Dividend Paid $362.4M
YoY Change 243.18%
Common Stock Issuance & Retirement, Net $2.100M
YoY Change
Debt Paid & Issued, Net $2.628B
YoY Change -15.29%
Cash From Financing Activities -$2.115B 8.700B -46.80M
YoY Change -124.69%
NET CHANGE
Cash From Operating Activities $1.205B -116.3M 162.5M
Cash From Investing Activities -$61.50M -7.781B -3.200M
Cash From Financing Activities -$2.115B 8.700B -46.80M
Net Change In Cash -$971.9M 802.7M 112.5M
YoY Change -193.99%
FREE CASH FLOW
Cash From Operating Activities $1.205B -$116.3M $162.5M
Capital Expenditures $115.3M -$21.40M -$3.300M
Free Cash Flow $1.090B -$94.90M $165.8M
YoY Change 377.01%

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CY2015Q4 qsr Common Stock Exchange Ratio
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16.95
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203500000 shares
CY2015 us-gaap Preferred Stock Voting Rights
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Holders of the Preferred Shares have voting rights equal to one vote per each Preferred Share.
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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10.12
CY2015 dei Document Period End Date
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2015-12-31
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0
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
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35.00
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<div> <p style="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"> <b><i>Use of Estimates</i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in our consolidated financial statements and notes to the financial statements. Management adjusts such estimates and assumptions when facts and circumstances dictate. Such estimates and assumptions may be affected by volatile credit, equity, foreign currency, energy markets and declines in consumer spending. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates.</p> </div>
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0.50 pure
CY2015 dei Trading Symbol
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QSR
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0.51
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P6Y9M18D
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115300000
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936500000
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31800000
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2400000
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500000
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4300000
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293700000
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237100000
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546900000
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127000000
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16700000
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28800000
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800000
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673900000
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3778200000
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162200000
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271200000
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50800000
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271200000
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2800000
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7400000
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3300000
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116600000
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34900000
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56200000
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282700000
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1300000
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73100000
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31800000
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2860000000
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5100000
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2100000
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1800000
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2600000
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30600000
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4100000
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6900000
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503200000
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P6M
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10100000
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186500000
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32900000
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3 Contract
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5412 Lease
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4 Distributor
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181800000
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10100000
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0.167 pure
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11000000
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P10Y
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500000
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271200000
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55800000
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CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
93700000
CY2015Q2 us-gaap Revenues
Revenues
1042100000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
302100000
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-23500000
CY2014Q3 us-gaap Revenues
Revenues
278900000
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
900000
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
182900000
CY2015Q3 us-gaap Revenues
Revenues
1019800000
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
344200000
CY2014Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.50
CY2014Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.60
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
-381300000
CY2014Q4 us-gaap Revenues
Revenues
417800000
CY2014Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-102600000
CY2015Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.25
CY2015Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
184500000
CY2015Q4 us-gaap Revenues
Revenues
1057000000
CY2015Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
321800000

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