Burger King 2011 Annual Report Download - page 118

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Table of Contents
BURGER KING HOLDINGS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements — (Continued)
Senior Notes Indenture limit our ability to pay cash dividends in certain circumstances. In addition, because we are a holding company, our ability to pay cash
dividends on shares (including fractional shares) of our common stock may be limited by restrictions on our ability to obtain sufficient funds through dividends
from our subsidiaries, including the restrictions under the Credit Agreement and the Senior Notes Indenture. Subject to the foregoing, the payment of cash
dividends in the future, if any, will be at the discretion of our Board of Directors and will depend upon such factors as earnings levels, capital requirements, our
overall financial condition and any other factors deemed relevant by our Board of Directors. During 2011, we made a dividend totaling $7.6 million to Burger
King Capital Holdings, LLC.
Accumulated Other Comprehensive Income (Loss)
The following table displays the change in the components of accumulated other comprehensive income (loss) (in millions):
Derivatives Pensions
Foreign
Currency
Translation
Accumulated
Other
Comprehensive
Income (Loss)
Predecessor
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 of $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 of $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)
Foreign currency translation adjustment — — 13.3 13.3
Net change in fair value of derivatives, net of tax of $1.1 million 1.7 — — 1.7
Amounts reclassified to earnings during the period from terminated
swaps, net of tax of $0.2 million (0.2) — — (0.2)
Pension and post-retirement benefit plans, net of tax of $3.1 million — 5.8 — 5.8
Balances at October 18, 2010 $ (13.2) $ (29.7) $ (3.4) $ (46.3)
117
Source: Burger King Holdings Inc, 10-K, March 14, 2012 Powered by Morningstar® Document Research℠