$QSR
Restaurant Brands International Inc

2023 Q2 Form 10-Q Financial Statement

#000161875623000022 Filed on May 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $1.775B $1.590B
YoY Change 8.3% 9.58%
Cost Of Revenue $612.0M $550.0M
YoY Change 4.79% 11.34%
Gross Profit $1.163B $1.040B
YoY Change 10.24% 8.67%
Gross Profit Margin 65.52% 65.41%
Selling, General & Admin $589.0M $175.0M
YoY Change 303.42% 31.58%
% of Gross Profit 50.64% 16.83%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $49.00M $46.00M
YoY Change 2.08% -6.12%
% of Gross Profit 4.21% 4.42%
Operating Expenses $604.0M $175.0M
YoY Change 313.7% 31.58%
Operating Profit $559.0M $447.0M
YoY Change 3.33% -0.67%
Interest Expense -$155.0M -$142.0M
YoY Change 20.16% 11.81%
% of Operating Profit -27.73% -31.77%
Other Income/Expense, Net
YoY Change
Pretax Income $409.0M $305.0M
YoY Change -0.73% -5.57%
Income Tax $58.00M $28.00M
% Of Pretax Income 14.18% 9.18%
Net Earnings $241.0M $277.0M
YoY Change -30.35% 2.59%
Net Earnings / Revenue 13.58% 17.42%
Basic Earnings Per Share $0.77 $0.61
Diluted Earnings Per Share $0.52 $0.61
COMMON SHARES
Basic Shares Outstanding 311.3M shares 307.9M shares
Diluted Shares Outstanding 458.0M shares 456.0M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.213B $1.033B
YoY Change 44.75% 15.42%
Cash & Equivalents $1.213B $1.033B
Short-Term Investments
Other Short-Term Assets $167.0M $103.0M
YoY Change 156.92% 14.44%
Inventory $171.0M $145.0M
Prepaid Expenses
Receivables $639.0M $612.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.190B $1.893B
YoY Change 39.67% 12.28%
LONG-TERM ASSETS
Property, Plant & Equipment $3.051B $3.018B
YoY Change -1.49% -4.49%
Goodwill $5.772B $5.700B
YoY Change -1.6% -5.79%
Intangibles $11.12B $11.01B
YoY Change -1.56% -3.89%
Long-Term Investments $140.0M $152.0M
YoY Change -25.93% -16.02%
Other Assets $1.000B $827.0M
YoY Change 18.34% 11.31%
Total Long-Term Assets $20.94B $20.63B
YoY Change -1.15% -3.97%
TOTAL ASSETS
Total Short-Term Assets $2.190B $1.893B
Total Long-Term Assets $20.94B $20.63B
Total Assets $23.13B $22.53B
YoY Change 1.67% -2.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $735.0M $679.0M
YoY Change 4.26% 6.59%
Accrued Expenses $423.0M $415.0M
YoY Change 9.87% 1.22%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $132.0M $96.00M
YoY Change 69.23% 35.21%
Total Short-Term Liabilities $2.016B $1.882B
YoY Change 14.35% 2.95%
LONG-TERM LIABILITIES
Long-Term Debt $13.12B $12.82B
YoY Change 1.82% -0.64%
Other Long-Term Liabilities $1.996B $895.0M
YoY Change 35.14% -47.01%
Total Long-Term Liabilities $15.11B $13.72B
YoY Change 5.25% -6.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.016B $1.882B
Total Long-Term Liabilities $15.11B $13.72B
Total Liabilities $20.28B $18.22B
YoY Change 7.61% -5.18%
SHAREHOLDERS EQUITY
Retained Earnings $1.198B $1.134B
YoY Change 37.54% 41.04%
Common Stock $2.247B $2.157B
YoY Change 16.49% 4.76%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.854B $2.575B
YoY Change
Total Liabilities & Shareholders Equity $23.13B $22.53B
YoY Change 1.67% -2.79%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $241.0M $277.0M
YoY Change -30.35% 2.59%
Depreciation, Depletion And Amortization $49.00M $46.00M
YoY Change 2.08% -6.12%
Cash From Operating Activities $392.0M $95.00M
YoY Change -9.89% -59.4%
INVESTING ACTIVITIES
Capital Expenditures $30.00M $18.00M
YoY Change -266.67% 80.0%
Acquisitions $0.00
YoY Change
Other Investing Activities $22.00M $0.00
YoY Change -175.86% -100.0%
Cash From Investing Activities -$8.000M $0.00
YoY Change -82.98% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid $243.0M
YoY Change 0.83%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -208.0M -$240.0M
YoY Change -52.07% -43.66%
NET CHANGE
Cash From Operating Activities 392.0M $95.00M
Cash From Investing Activities -8.000M $0.00
Cash From Financing Activities -208.0M -$240.0M
Net Change In Cash 176.0M -$145.0M
YoY Change -482.61% -24.48%
FREE CASH FLOW
Cash From Operating Activities $392.0M $95.00M
Capital Expenditures $30.00M $18.00M
Free Cash Flow $362.0M $77.00M
YoY Change -20.09% -65.63%

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CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
111000000 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
12917000000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
12934000000 usd
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
96000000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
95000000 usd
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
12821000000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
12839000000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
12890000000 usd
CY2023Q1 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
138000000 usd
CY2022Q1 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
115000000 usd
CY2023Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
4000000 usd
CY2022Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
5000000 usd
CY2023Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
7000000 usd
CY2022Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
7000000 usd
CY2023Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
7000000 usd
CY2022Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
0 usd
CY2023Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-142000000 usd
CY2022Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-127000000 usd
CY2022Q1 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-2000000 usd
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.091
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.166
CY2023Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
40000000 usd
CY2023Q1 qsr Other Comprehensive Income Change In Fair Value Of Derivatives Net Of Tax
OtherComprehensiveIncomeChangeInFairValueOfDerivativesNetOfTax
74000000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
13000000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-10000000 usd
CY2023Q1 qsr Litigation Settlement Expense Reserves
LitigationSettlementExpenseReserves
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CY2022Q1 qsr Litigation Settlement Expense Reserves
LitigationSettlementExpenseReserves
1000000 usd
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
255000000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
365000000 usd
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
45000000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
34000000 usd
CY2023Q1 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
2000000 usd
CY2023Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-8000000 usd
CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
21000000 usd
CY2023Q1 qsr Other Operating Income Expense Other Net
OtherOperatingIncomeExpenseOtherNet
-10000000 usd
CY2022Q1 qsr Other Operating Income Expense Other Net
OtherOperatingIncomeExpenseOtherNet
-2000000 usd
CY2023Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
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CY2022Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
16000000 usd
CY2023Q1 qsr Number Of Brands
NumberOfBrands
4 brand
CY2023Q1 us-gaap Revenues
Revenues
1590000000 usd
CY2022Q1 us-gaap Revenues
Revenues
1451000000 usd
CY2023Q1 us-gaap Revenues
Revenues
1590000000 usd
CY2022Q1 us-gaap Revenues
Revenues
1451000000 usd
CY2023Q1 qsr Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
588000000 usd
CY2022Q1 qsr Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
530000000 usd
CY2023Q1 qsr Earnings Before Interest Tax Depreciation And Amortization
EarningsBeforeInterestTaxDepreciationAndAmortization
493000000 usd
CY2022Q1 qsr Earnings Before Interest Tax Depreciation And Amortization
EarningsBeforeInterestTaxDepreciationAndAmortization
499000000 usd
CY2023Q1 qsr Depreciation And Amortization Excluding Oie Depreciation
DepreciationAndAmortizationExcludingOieDepreciation
46000000 usd
CY2022Q1 qsr Depreciation And Amortization Excluding Oie Depreciation
DepreciationAndAmortizationExcludingOieDepreciation
49000000 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
447000000 usd
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
450000000 usd
CY2023Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-142000000 usd
CY2022Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-127000000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
28000000 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
53000000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
277000000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
270000000 usd

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0001618756-23-000022-index.html Edgar Link pending
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qsr-20230331_cal.xml Edgar Link unprocessable
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