Burger King 2010 Annual Report Download - page 75

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Table of Contents
BURGER KING HOLDINGS, INC. AND SUBSIDIARIES
Consolidated Statements of Income
(In millions, except
per share data)
Years Ended June 30,
2010 2009 2008
Revenues:
Company restaurant revenues $ 1,839.3 $ 1,880.5 $ 1,795.9
Franchise revenues 549.2 543.4 537.2
Property revenues 113.7 113.5 121.6
Total revenues 2,502.2 2,537.4 2,454.7
Company restaurant expenses:
Food, paper and product costs 585.0 603.7 564.3
Payroll and employee benefits 568.7 582.2 534.7
Occupancy and other operating costs 461.1 457.8 439.0
Total Company restaurant expenses 1,614.8 1,643.7 1,538.0
Selling, general and administrative expenses (See Note 2) 495.8 494.3 501.0
Property expenses 59.4 58.1 62.1
Other operating (income) expenses, net (See Note 2) (0.7) 1.9 (0.6)
Total operating costs and expenses 2,169.3 2,198.0 2,100.5
Income from operations 332.9 339.4 354.2
Interest expense 49.6 57.3 67.1
Interest income (1.0) (2.7) (5.9)
Total interest expense, net 48.6 54.6 61.2
Income before income taxes 284.3 284.8 293.0
Income tax expense 97.5 84.7 103.4
Net income $ 186.8 $ 200.1 $ 189.6
Earnings per share:
Basic $ 1.38 $ 1.48 $ 1.40
Diluted $ 1.36 $ 1.46 $ 1.38
Weighted average shares outstanding:
Basic 135.4 134.8 135.1
Diluted 137.2 136.8 137.6
Dividends per common share $ 0.25 $ 0.25 $ 0.25
See accompanying notes to consolidated financial statements.
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