Burger King 2011 Annual Report Download - page 133

Download and view the complete annual report

Please find page 133 of the 2011 Burger King annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 152

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152

Table of Contents
BURGER KING HOLDINGS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements — (Continued)
Successor
BURGER KING HOLDINGS, INC. AND SUBSIDIARIES
Condensed Consolidating Statements of Operations
October 19, 2010 to December 31, 2010
(Unaudited)
Issuer Guarantors
Non-
Guarantors Eliminations Consolidated
(In millions)
Revenues:
Company restaurant revenues $ 208.2 $ — $ 123.5 $ — $ 331.7
Franchise and property revenues 87.7 — 47.4 — 135.1
Intercompany revenues 1.3 — — (1.3) —
Total revenues 297.2 — 170.9 (1.3) 466.8
Company restaurant expenses:
Food, paper and product costs 63.9 — 38.9 — 102.8
Payroll and employee benefits 63.1 — 35.2 — 98.3
Occupancy and other operating costs 52.7 — 39.0 — 91.7
Total Company restaurant expenses 179.7 — 113.1 — 292.8
Franchise and franchise property expenses 13.4 — 7.9 — 21.3
Selling, general and administrative expenses 171.9 0.9 57.2 — 230.0
Intercompany expenses — — 1.3 (1.3) —
Other operating (income) expense, net (9.6) — 0.9 — (8.7)
Total operating costs and expenses 355.4 0.9 180.4 (1.3) 535.4
Income (loss) from operations (58.2) (0.9) (9.5) — (68.6)
Interest expense, net 55.8 — 2.3 — 58.1
Income (loss) before income taxes (114.0) (0.9) (11.8) — (126.7)
Income tax expense (benefit) (38.4) — 13.3 — (25.1)
Income (loss) from continuing operations (75.6) (0.9) (25.1) — (101.6)
Equity in earnings of subsidiaries (25.1) (100.7) — 125.8 —
Net income (loss) $ (100.7) $ (101.6) $ (25.1) $ 125.8 $ (101.6)
132
Source: Burger King Holdings Inc, 10-K, March 14, 2012 Powered by Morningstar® Document Research℠