Burger King 2011 Annual Report Download - page 117

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Table of Contents
BURGER KING HOLDINGS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements — (Continued)
The net amount of pre-tax gains and losses in accumulated comprehensive income (loss) as of December 31, 2011 that we expect to be reclassified into
earnings within the next 12 months is $3.6 million of losses.
Successor Predecessor
October 19, 2010 to December 31, 2010 July 1, 2010 to October 18, 2010
Interest Rate
Caps
Interest Rate
Swaps
Foreign
Currency
Forward
Contracts Total
Interest Rate
Swaps
Foreign
Currency
Forward
Contracts Total
Derivatives designated as cash flow
hedging instruments:
Gain (loss) recognized in other
comprehensive income (effective
portion) $ 35.8 $ — $ 0.1 $ 35.9 $ (2.4) $ (0.1) $ (2.5)
Gain (loss) reclassified from AOCI into
interest expense, net(1) $ — $ — $ — $ — $ (4.9) $ — $ (4.9)
Derivatives not designated as hedging
instruments:
Gain (loss) recognized in other operating
expense, net $ — $ (0.2) $ 17.2 $ 17.0 $ — $ (42.4) $ (42.4)
(1) Includes $0.4 million of gain for the period of July 1, 2010 to October 18, 2010 related to terminated hedges and zero for the period October 19, 2010 to
December 31, 2010.
Predecessor
Fiscal 2010
Interest Rate
Swaps
Foreign
Currency
Forward
Contracts Total
Derivatives designated as cash flow hedging instruments:
Gain (loss) recognized in other comprehensive income (effective portion) $ (16.4) $ (0.6) $ (17.0)
Gain (loss) reclassified from AOCI into interest expense, net(1) $ (21.1) $ — $ (21.1)
Gain (loss) reclassified from AOCI into royalty income $ — $ (0.8) $ (0.8)
Gain (loss) recognized in interest expense, net (ineffective portion) $ (0.2) $ — $ (0.2)
Derivatives not designated as hedging instruments:
Gain (loss) recognized in other operating expense, net $ — $ 44.6 $ 44.6
(1) Includes $1.6 million of gain related to the terminated hedges for the fiscal year ended June 30, 2010.
Note 14. Stockholders’ Equity
Dividends Paid
We paid a quarterly cash dividend of $0.0625 per share on September 30, 2010 to the Predecessor’s shareholders of record at the close of business on
September 14, 2010. Total dividends paid by the Predecessor during the period July 1, 2010 to October 18, 2010 were $8.6 million. Total dividends paid to the
Predecessor’s shareholders were $34.2 million in fiscal 2010 and $34.1 million in fiscal 2009.
Although we do not currently have a dividend policy, we may declare dividends periodically if our Board of Directors determines that it is in the best
interests of the shareholders. The terms of the Credit Agreement and the
116
Source: Burger King Holdings Inc, 10-K, March 14, 2012 Powered by Morningstar® Document Research℠