$QSR
Restaurant Brands International Inc

2023 Q4 Form 10-Q Financial Statement

#000161875623000057 Filed on November 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $1.820B $1.837B
YoY Change 7.76% 6.43%
Cost Of Revenue $643.0M $630.0M
YoY Change 3.88% 2.44%
Gross Profit $1.177B $1.207B
YoY Change 10.0% 8.64%
Gross Profit Margin 64.67% 65.7%
Selling, General & Admin $680.0M $169.0M
YoY Change 16.24% 8.33%
% of Gross Profit 57.77% 14.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $49.00M $47.00M
YoY Change 4.26% 2.17%
% of Gross Profit 4.16% 3.89%
Operating Expenses $685.0M $169.0M
YoY Change 14.74% 8.33%
Operating Profit $492.0M $582.0M
YoY Change 4.02% 3.74%
Interest Expense -$156.0M -$143.0M
YoY Change -33.9% 7.52%
% of Operating Profit -31.71% -24.57%
Other Income/Expense, Net
YoY Change
Pretax Income $316.0M $423.0M
YoY Change 56.44% -1.17%
Income Tax -$410.0M $59.00M
% Of Pretax Income -129.75% 13.95%
Net Earnings $508.0M $364.0M
YoY Change 121.83% -31.32%
Net Earnings / Revenue 27.91% 19.81%
Basic Earnings Per Share $0.80
Diluted Earnings Per Share $1.12 $0.79
COMMON SHARES
Basic Shares Outstanding 312.0M shares 312.3M shares
Diluted Shares Outstanding 459.0M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.139B $1.310B
YoY Change -3.31% 38.48%
Cash & Equivalents $1.139B $1.310B
Short-Term Investments
Other Short-Term Assets $119.0M $221.0M
YoY Change -3.25% -11.95%
Inventory $166.0M $160.0M
Prepaid Expenses
Receivables $749.0M $692.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.173B $2.383B
YoY Change 6.1% 23.86%
LONG-TERM ASSETS
Property, Plant & Equipment $1.329B $2.964B
YoY Change -5.07% -0.17%
Goodwill $5.775B $5.681B
YoY Change 1.53% 1.36%
Intangibles $11.11B $10.95B
YoY Change 1.06% 1.06%
Long-Term Investments $163.0M $135.0M
YoY Change -2.4% -24.58%
Other Assets $1.262B $1.103B
YoY Change 39.45% -3.67%
Total Long-Term Assets $21.22B $20.69B
YoY Change 2.51% 0.3%
TOTAL ASSETS
Total Short-Term Assets $2.173B $2.383B
Total Long-Term Assets $21.22B $20.69B
Total Assets $23.39B $23.08B
YoY Change 2.84% 2.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $790.0M $693.0M
YoY Change 4.22% -0.43%
Accrued Expenses $536.0M $526.0M
YoY Change 8.06% 7.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $67.00M $55.00M
YoY Change -29.47% -36.05%
Total Short-Term Liabilities $2.144B $2.071B
YoY Change 1.32% 7.86%
LONG-TERM LIABILITIES
Long-Term Debt $12.85B $12.86B
YoY Change 0.12% 0.07%
Other Long-Term Liabilities $996.0M $864.0M
YoY Change 14.22% -17.24%
Total Long-Term Liabilities $13.85B $13.73B
YoY Change 1.01% -1.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.144B $2.071B
Total Long-Term Liabilities $13.85B $13.73B
Total Liabilities $18.66B $18.41B
YoY Change 0.99% -0.57%
SHAREHOLDERS EQUITY
Retained Earnings $1.599B $1.268B
YoY Change 42.64% 19.4%
Common Stock $1.973B $2.267B
YoY Change -4.08% 15.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.866B $2.908B
YoY Change
Total Liabilities & Shareholders Equity $23.39B $23.08B
YoY Change 2.84% 2.31%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $508.0M $364.0M
YoY Change 121.83% -31.32%
Depreciation, Depletion And Amortization $49.00M $47.00M
YoY Change 4.26% 2.17%
Cash From Operating Activities $403.0M $433.0M
YoY Change -4.73% 8.79%
INVESTING ACTIVITIES
Capital Expenditures $47.00M $25.00M
YoY Change -2.08% -204.17%
Acquisitions
YoY Change
Other Investing Activities $69.00M $22.00M
YoY Change 38.0% 450.0%
Cash From Investing Activities $22.00M -$3.000M
YoY Change 1000.0% -85.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -600.0M -326.0M
YoY Change 206.12% 29.88%
NET CHANGE
Cash From Operating Activities 403.0M 433.0M
Cash From Investing Activities 22.00M -3.000M
Cash From Financing Activities -600.0M -326.0M
Net Change In Cash -175.0M 104.0M
YoY Change -176.42% -18.11%
FREE CASH FLOW
Cash From Operating Activities $403.0M $433.0M
Capital Expenditures $47.00M $25.00M
Free Cash Flow $356.0M $408.0M
YoY Change -5.07% -3.32%

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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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us-gaap Earnings Per Share Diluted
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