Burger King 2011 Annual Report Download - page 122
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Table of Contents
BURGER KING HOLDINGS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements — (Continued)
Note 17. Other Operating (Income) Expenses, net (including Restaurant Acquisitions, Closures and Dispositions)
Other Operating (Income) Expenses, net
Other operating (income) expenses, net, 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
Net losses (gains) on disposal of assets, restaurant closures and
refranchisings $ 6.2 $ 5.8 $ (3.2) $ (2.4) $ (8.5)
Litigation settlements and reserves, net 1.3 3.5 1.5 (0.2) 0.2
Foreign exchange net (gains) losses (4.6) (21.4) (1.4) (3.3) 8.4
Loss (income) from unconsolidated affiliates 1.2 0.3 0.5 0.1 (0.4)
Other, net 7.2 3.1 (1.0) 5.1 2.2
Other operating (income) expense, net $ 11.3 $ (8.7) $ (3.6) $ (0.7) $ 1.9
Restaurant Acquisitions, Closures and Dispositions
Acquisitions
Restaurant acquisitions are summarized as follows (in millions, except for number of restaurants):
Successor Predecessor
2011
October 19,
2010 to
December 31,
2010
July 1,
2010 to
October 18,
2010 Fiscal 2010 Fiscal 2009
Number of restaurants acquired 2 — 1 39 87
Prepaids and other current assets $ — $ — $ — $ 1.8 $ 1.0
Property and equipment, net — — — 4.9 14.6
Goodwill and other intangible assets — — — 7.6 55.7
Other assets, net — — — 2.1 —
Assumed liabilities — — — (2.4) (3.4)
Total purchase price $ — $ — $ — $ 14.0 $ 67.9
Closures and Dispositions
Gains and losses on closures and dispositions represent sales of Company properties and other costs related to restaurant closures and refranchisings, and
are recorded in other operating (income) expenses, net in the accompanying consolidated statements of operations. Gains and losses recognized in the current
period may reflect closures and refranchisings that occurred in previous periods.
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Source: Burger King Holdings Inc, 10-K, March 14, 2012 Powered by Morningstar® Document Research℠