Burger King 2010 Annual Report Download - page 105

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Table of Contents
BURGER KING HOLDINGS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements — (Continued)
Note 19. Stockholders’ Equity
Dividends Paid
During each of the years ended June 30, 2010, 2009, and 2008, the Company declared four quarterly cash dividends of $0.0625
per share on its common stock. Total dividends paid by the Company during each of the years ended June 30, 2010, 2009, and 2008
was $34.2 million, $34.1 million, and $34.2 million, respectively.
Accumulated Other Comprehensive Income (Loss)
The following table displays the change in the components of accumulated other comprehensive income (loss) (in millions):
Accumulated
Foreign Other
Currency Comprehensive
Derivatives Pensions Translation Income (Loss)
Balances at June 30, 2007 $ 7.6 $ 4.5 $ (4.6) $ 7.5
Foreign currency translation adjustment — — (1.7) (1.7)
Net change in fair value of derivatives, net of tax of
$3.9 million (6.4) — — (6.4)
Amounts reclassified to earnings during the period from
terminated swaps, net of tax $1.1 million (1.3) — — (1.3)
Pension and post−retirement benefit plans, net of tax of
$4.5 million — (6.5) — (6.5)
Balances at June 30, 2008 (0.1) (2.0) (6.3) (8.4)
Foreign currency translation adjustment — — (6.0) (6.0)
Net change in fair value of derivatives, net of tax of
$10.6 million (16.8) — — (16.8)
Amounts reclassified to earnings during the period from
terminated swaps, net of tax $0.4 million (0.9) — — (0.9)
Pension and post−retirement benefit plans, net of tax of
$9.2 million — (13.8) — (13.8)
Balances at June 30, 2009 (17.8) (15.8) (12.3) (45.9)
Foreign currency translation adjustment — — (4.4) (4.4)
Net change in fair value of derivatives, net of tax of
$2.6 million 4.1 — — 4.1
Amounts reclassified to earnings during the period from
terminated swaps, net of tax $0.6 million (1.0) — — (1.0)
Pension and post−retirement benefit plans, net of tax of
$11.3 million — (19.7) — (19.7)
Balances at June 30, 2010 $ (14.7) $ (35.5) $ (16.7) $ (66.9)
Note 20. Pension and Post Retirement Medical Benefits
Pension Benefits
The Company sponsors noncontributory defined benefit pension plans for its salaried employees in the United States (the
“U.S. Pension Plans”) and certain employees in the United Kingdom, Germany and Switzerland (the “International Pension Plans”).
Effective December 31, 2005, all benefits accrued under the U.S. Pension Plans were frozen at the benefit level attained as of that date.
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