Burger King 2011 Annual Report Download - page 13

Table of Contents
environmental regulations is not believed to have a material effect on capital expenditures, financial condition, results of operations, or our competitive position.
Increased focus by U.S. and overseas governmental authorities on environmental matters is likely to lead to new governmental initiatives, particularly in the area
of climate change. To the extent that these initiatives caused an increase in our supplies or distribution costs, they may impact our business both directly and
indirectly. Furthermore, climate change may exacerbate adverse weather conditions which could adversely impact our operations and/or increase the cost of our
food and other supplies in ways which we cannot predict at this time.
Seasonal Operations
Our business is moderately seasonal. Restaurant sales are typically higher in the spring and summer months when weather is warmer than in the fall and
winter months. Restaurant sales during the winter are typically highest in December, during the holiday shopping season. Our restaurant sales and Company
restaurant margins are typically lowest during the winter months, which include February, the shortest month of the year. Furthermore, adverse weather
conditions can have material adverse effects on restaurant sales. The timing of religious holidays may also impact restaurant sales. Because our business is
moderately seasonal, results for any one quarter are not necessarily indicative of the results that may be achieved for any other quarter or for the full fiscal year.
Our Employees
As of December 31, 2011, we had approximately 34,248 employees in our Company restaurants and our restaurant support centers.
Financial Information about Business Segments and Regions
Financial information about our business segments (U.S. & Canada, EMEA, LAC and APAC) is incorporated herein by reference from Management’s
Discussion and Analysis of Financial Condition and Results of Operations in Part II, Item 7 and in Financial Statements and Supplementary Data in Part II,
Item 8 of this Form 10-K.
Available Information
The Company makes available free of charge on or through the Investor Relations section of its internet website at www.bk.com, this report on Form
10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports as soon as reasonably practicable after electronically filing
such material with the Securities and Exchange Commission (“SEC”). This information is also available at www.sec.gov, an internet site maintained by the SEC
that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC. The material may also be
read and copied by visiting the Public Reference Room of the SEC at 100 F Street, NE, Washington, DC 20549. Information on the operation of the public
reference room may be obtained by calling the SEC at 1-800-SEC-0330. The references to our website address and the SEC’s website address do not constitute
incorporation by reference of the information contained in these websites and should not be considered part of this document.
Item 1A. Risk Factors
Special Note Regarding Forward-Looking Statements
Certain statements made in this report that reflect management’s expectations regarding future events and economic performance are forward-looking in
nature and, accordingly, are subject to risks and uncertainties. These forward-looking statements include statements regarding our intent to focus on sales
growth and profitability; our intent to focus on international expansion to increase the number of new restaurants, particularly in high growth emerging
markets; our beliefs and expectations regarding the mix of franchise
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Source: Burger King Holdings Inc, 10-K, March 14, 2012 Powered by Morningstar® Document Research℠