Burger King 2011 Annual Report Download - page 121

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Table of Contents
BURGER KING HOLDINGS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements — (Continued)
for Fiscal 2010 and $11.4 million for Fiscal 2009. The related excess tax benefits from stock options exercised were $1.1 million offset by $1.5 million shortfalls
recorded as operating cash flows for the period July 1, 2010 through October 18, 2010, $3.5 million for Fiscal 2010 and $3.3 million for Fiscal 2009.
Proceeds from stock options exercised were $4.0 million for the period July 1, 2010 through October 18, 2010, $4.2 million for Fiscal 2010 and
$3.0 million for Fiscal 2009.
The weighted average grant date fair value of nonvested shares granted was $16.96 during the period July 1, 2010 through October 18, 2010, $18.35 for
Fiscal 2010 and $25.10 for Fiscal 2009. The total intrinsic value of grants which vested and settled was $9.1 million during the period July 1, 2010 through
October 18, 2010, $9.6 million for Fiscal 2010 and $1.1 million for Fiscal 2009.
The fair value of shares withheld by us to meet employees’ minimum statutory withholding tax requirements on the settlement of RSU’s was $2.5 million
during the period July 1, 2010 through October 18, 2010, $2.7 million for Fiscal 2010 and $0.3 million for Fiscal 2009
Note 16. Franchise and Property Revenues
Franchise and property revenues consist of the following (in millions):
Successor Predecessor
2011
October 19,
2010 to
December 31,
2010
July 1,
2010 to
October 18,
2010 Fiscal 2010 Fiscal 2009
Franchise royalties $ 565.5 $ 107.4 $ 165.2 $ 529.5 $ 518.2
Initial franchise fees 13.3 2.6 1.7 10.9 13.8
Renewal franchise fees and other related fees 7.0 1.6 2.3 8.8 11.4
Property revenues 111.2 23.5 34.0 113.7 113.5
Total $ 697.0 $ 135.1 $ 203.2 $ 662.9 $ 656.9
Refer to Note 9 for the components of property revenues.
120
Source: Burger King Holdings Inc, 10-K, March 14, 2012 Powered by Morningstar® Document Research℠