2014 Q4 Form 10-K Financial Statement

#000119312515089362 Filed on March 12, 2015

View on sec.gov

Income Statement

Concept 2014 Q4 2014 2013 Q4
Revenue $417.8M $1.199B $265.2M
YoY Change 57.54% 4.58%
Cost Of Revenue $156.4M
YoY Change -19.92%
Gross Profit $826.5M
YoY Change 11.22%
Gross Profit Margin 68.94%
Selling, General & Admin $345.4M
YoY Change 42.49%
% of Gross Profit 41.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $51.20M
YoY Change 3.02%
% of Gross Profit 6.19%
Operating Expenses $345.4M
YoY Change 42.49%
Operating Profit -$102.6M $181.1M $141.1M
YoY Change -172.71% -65.32%
Interest Expense -$279.7M
YoY Change 39.85%
% of Operating Profit -154.45%
Other Income/Expense, Net
YoY Change
Pretax Income -$261.7M
YoY Change -305.42%
Income Tax $14.90M
% Of Pretax Income
Net Earnings -$380.9M -$277.2M $66.80M
YoY Change -670.21% -218.61%
Net Earnings / Revenue -91.17% -23.12% 25.19%
Basic Earnings Per Share -$0.52 -$0.20 $0.19
Diluted Earnings Per Share -$0.52 -$0.20 $0.19
COMMON SHARES
Basic Shares Outstanding 351.9M shares
Diluted Shares Outstanding 351.9M shares

Balance Sheet

Concept 2014 Q4 2014 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $1.803B $786.9M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $97.80M $1.200M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $2.640B $1.074B
YoY Change 145.69%
LONG-TERM ASSETS
Property, Plant & Equipment $2.437B $801.5M
YoY Change 203.99%
Goodwill $5.236B $630.0M
YoY Change 731.06% 1.74%
Intangibles $10.45B $2.796B
YoY Change 273.57%
Long-Term Investments $169.7M $102.0M
YoY Change 66.37%
Other Assets $445.5M $363.5M
YoY Change 22.56%
Total Long-Term Assets $18.70B $4.754B
YoY Change 293.41%
TOTAL ASSETS
Total Short-Term Assets $2.640B $1.074B
Total Long-Term Assets $18.70B $4.754B
Total Assets $21.34B $5.829B
YoY Change 266.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $223.0M $31.10M
YoY Change 617.04%
Accrued Expenses $335.2M $155.0M
YoY Change 116.26%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due $1.109B $70.90M
YoY Change 1464.03%
Total Short-Term Liabilities $1.945B $346.0M
YoY Change 462.25%
LONG-TERM LIABILITIES
Long-Term Debt $8.827B $2.880B
YoY Change 206.45%
Other Long-Term Liabilities $707.8M $317.9M
YoY Change 122.65%
Total Long-Term Liabilities $9.534B $3.198B
YoY Change 198.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.945B $346.0M
Total Long-Term Liabilities $9.534B $3.198B
Total Liabilities $13.71B $4.312B
YoY Change 217.84%
SHAREHOLDERS EQUITY
Retained Earnings $225.5M
YoY Change
Common Stock $1.243B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.300M
YoY Change
Treasury Stock Shares 0.000 shares 345.3K shares
Shareholders Equity
YoY Change
Total Liabilities & Shareholders Equity $21.34B $5.829B
YoY Change 266.18%

Cashflow Statement

Concept 2014 Q4 2014 2013 Q4
OPERATING ACTIVITIES
Net Income -$380.9M -$277.2M $66.80M
YoY Change -670.21% -218.61%
Depreciation, Depletion And Amortization $51.20M
YoY Change 3.02%
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures $30.90M
YoY Change 21.18%
Acquisitions $3.900M
YoY Change -67.23%
Other Investing Activities $4.000M
YoY Change -2100.0%
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid $105.6M
YoY Change 25.27%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $3.102B
YoY Change 5323.08%
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures $30.90M
Free Cash Flow
YoY Change

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CY2014 dei Entity Registrant Name
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Restaurant Brands International Limited Partnership
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CY2014 dei Document Period End Date
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2%; MARGIN-TOP: 18pt"> <b><i>Concentrations of Risk</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> Our operations include franchise and Company restaurants located in approximately 100 countries and U.S.&#xA0;territories worldwide. Of the 19,043 restaurants in operation as of December&#xA0;31, 2014, 18,978 were franchise restaurants and 65 were Company restaurants.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> Four distributors currently service approximately 89% of our U.S.&#xA0;Burger King system restaurants and the loss of any one of these distributors would likely adversely affect our business. In many of our international markets, a single distributor services all the Burger King restaurants in the market. The loss of any of one of these distributors would likely have an adverse effect on the market impacted, and depending on the market, could have an adverse impact on our financial results. In addition, we have moved to a business model in which we enter into exclusive agreements with master franchisees to develop and operate restaurants, and subfranchise to third parties the right to develop and operate restaurants in defined geographic areas. The termination of an arrangement with a master franchisee or a lack of expansion by certain master franchisees could result in the delay or discontinuation of the development of franchise restaurants, or an interruption in the operation of our brand in a particular market or markets.</p> </div>
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