$QSR
Restaurant Brands International Inc

2022 Q3 Form 10-Q Financial Statement

#000161875622000044 Filed on August 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $1.726B $1.639B $1.451B
YoY Change 15.45% 13.98% 15.16%
Cost Of Revenue $615.0M $584.0M $494.0M
YoY Change 25.51% 25.05% 23.19%
Gross Profit $1.111B $1.055B $957.0M
YoY Change 10.55% 8.65% 11.41%
Gross Profit Margin 64.37% 64.37% 65.95%
Selling, General & Admin $156.0M $146.0M $133.0M
YoY Change 26.83% 35.19% 27.88%
% of Gross Profit 14.04% 13.84% 13.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $46.00M $48.00M $49.00M
YoY Change -8.0% -5.88% 0.0%
% of Gross Profit 4.14% 4.55% 5.12%
Operating Expenses $156.0M $146.0M $133.0M
YoY Change 26.83% 35.19% 27.88%
Operating Profit $561.0M $541.0M $450.0M
YoY Change 5.25% 10.86% 1.81%
Interest Expense -$133.0M -$129.0M -$127.0M
YoY Change 3.91% 2.38% 2.42%
% of Operating Profit -23.71% -23.84% -28.22%
Other Income/Expense, Net
YoY Change
Pretax Income $428.0M $412.0M $323.0M
YoY Change 8.63% 13.81% 1.57%
Income Tax -$102.0M $66.00M $53.00M
% Of Pretax Income -23.83% 16.02% 16.41%
Net Earnings $530.0M $346.0M $270.0M
YoY Change 61.09% -11.51% -0.37%
Net Earnings / Revenue 30.71% 21.11% 18.61%
Basic Earnings Per Share $1.18 $0.77 $0.59
Diluted Earnings Per Share $1.17 $0.76 $0.59
COMMON SHARES
Basic Shares Outstanding 305.8M shares 308.0M shares 309.0M shares
Diluted Shares Outstanding 454.0M shares 455.0M shares 458.0M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $946.0M $838.0M $895.0M
YoY Change -46.64% -52.44% -42.74%
Cash & Equivalents $946.0M $838.0M $895.0M
Short-Term Investments
Other Short-Term Assets $251.0M $65.00M $90.00M
YoY Change 41.01% -50.76% -18.92%
Inventory $129.0M $114.0M $108.0M
Prepaid Expenses
Receivables $598.0M $551.0M $593.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.924B $1.568B $1.686B
YoY Change -25.54% -37.97% -26.41%
LONG-TERM ASSETS
Property, Plant & Equipment $2.969B $3.097B $3.160B
YoY Change -5.17% -2.49% -0.25%
Goodwill $5.605B $5.866B $6.050B
YoY Change -2.4% 0.6% 4.65%
Intangibles $10.83B $11.30B $11.45B
YoY Change 1.68% 4.4% 6.6%
Long-Term Investments $179.0M $189.0M $181.0M
YoY Change -10.05% -7.35% -11.71%
Other Assets $1.145B $845.0M $743.0M
YoY Change 54.94% 4.84% -8.04%
Total Long-Term Assets $20.63B $21.19B $21.49B
YoY Change 1.42% 2.28% 4.47%
TOTAL ASSETS
Total Short-Term Assets $1.924B $1.568B $1.686B
Total Long-Term Assets $20.63B $21.19B $21.49B
Total Assets $22.56B $22.75B $23.17B
YoY Change -1.62% -2.1% 1.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $696.0M $705.0M $637.0M
YoY Change 17.57% 22.61% 30.53%
Accrued Expenses $489.0M $385.0M $410.0M
YoY Change 12.67% -2.53% -18.49%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $86.00M $78.00M $71.00M
YoY Change 6.17% -3.7% -11.25%
Total Short-Term Liabilities $1.920B $1.763B $1.828B
YoY Change 9.59% 6.91% 17.78%
LONG-TERM LIABILITIES
Long-Term Debt $12.85B $12.88B $12.90B
YoY Change 3.83% 4.09% 4.17%
Other Long-Term Liabilities $1.044B $1.477B $1.689B
YoY Change -44.99% -30.0% -19.15%
Total Long-Term Liabilities $13.90B $14.36B $14.59B
YoY Change -2.66% -0.88% 0.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.920B $1.763B $1.828B
Total Long-Term Liabilities $13.90B $14.36B $14.59B
Total Liabilities $18.52B $18.85B $19.21B
YoY Change -1.6% -0.72% 1.89%
SHAREHOLDERS EQUITY
Retained Earnings $1.062B $871.0M $804.0M
YoY Change 36.33% 19.64% 26.61%
Common Stock $1.964B $1.929B $2.059B
YoY Change -21.12% -23.21% -16.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.313B $2.214B $2.290B
YoY Change
Total Liabilities & Shareholders Equity $22.56B $22.75B $23.17B
YoY Change -1.62% -2.1% 1.38%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $530.0M $346.0M $270.0M
YoY Change 61.09% -11.51% -0.37%
Depreciation, Depletion And Amortization $46.00M $48.00M $49.00M
YoY Change -8.0% -5.88% 0.0%
Cash From Operating Activities $398.0M $435.0M $234.0M
YoY Change -21.96% -9.19% -12.03%
INVESTING ACTIVITIES
Capital Expenditures -$24.00M -$18.00M $10.00M
YoY Change 0.0% -41.94% -33.33%
Acquisitions
YoY Change
Other Investing Activities $4.000M -$29.00M -$4.000M
YoY Change -144.44% -1550.0% -180.0%
Cash From Investing Activities -$20.00M -$47.00M $1.000M
YoY Change -39.39% 62.07% -114.29%
FINANCING ACTIVITIES
Cash Dividend Paid $241.0M
YoY Change 0.84%
Common Stock Issuance & Retirement, Net $161.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -251.0M -434.0M -$426.0M
YoY Change -44.71% 70.2% 63.22%
NET CHANGE
Cash From Operating Activities 398.0M 435.0M $234.0M
Cash From Investing Activities -20.00M -47.00M $1.000M
Cash From Financing Activities -251.0M -434.0M -$426.0M
Net Change In Cash 127.0M -46.00M -$192.0M
YoY Change 452.17% -123.59% -6500.0%
FREE CASH FLOW
Cash From Operating Activities $398.0M $435.0M $234.0M
Capital Expenditures -$24.00M -$18.00M $10.00M
Free Cash Flow $422.0M $453.0M $224.0M
YoY Change -20.97% -11.18% -10.76%

Facts In Submission

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<div style="margin-top:12pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with U.S. GAAP and related rules and regulations of the SEC requires our management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the related disclosure of contingent assets and liabilities. Actual results could differ from these estimates.</span></div><div style="margin-top:12pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The carrying amounts for cash and cash equivalents, accounts and notes receivable and accounts and drafts payable approximate fair value based on the short-term nature of these amounts.</span></div>
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CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
66000000 usd
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-29000000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
119000000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18000000 usd
CY2022Q2 us-gaap Profit Loss
ProfitLoss
346000000 usd
CY2021Q2 us-gaap Profit Loss
ProfitLoss
391000000 usd
us-gaap Profit Loss
ProfitLoss
616000000 usd
us-gaap Profit Loss
ProfitLoss
662000000 usd

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