Burger King 2011 Annual Report Download - page 136
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Table of Contents
BURGER KING HOLDINGS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements — (Continued)
Predecessor
BURGER KING HOLDINGS, INC. AND SUBSIDIARIES
Condensed Consolidating Statements of Operations
Fiscal 2009
(Unaudited)
Issuer Guarantors
Non-
Guarantors Eliminations Consolidated
(In millions)
Revenues:
Company restaurant revenues $ 1,192.9 $ — $ 687.6 $ — $ 1,880.5
Franchise and property revenues 449.8 — 207.1 — 656.9
Intercompany royalties 14.3 — — (14.3) —
Total revenues 1,657.0 — 894.7 (14.3) 2,537.4
Company restaurant expenses:
Food, paper and product costs 389.6 — 214.1 — 603.7
Payroll and employee benefits 369.8 — 212.4 — 582.2
Occupancy and other operating costs 272.3 — 185.5 — 457.8
Total company restaurant expenses 1,031.7 — 612.0 — 1,643.7
Franchise and franchise property expenses 34.9 — 29.4 — 64.3
Selling, general and administrative expenses 311.2 — 176.9 — 488.1
Intercompany selling, general and administrative expenses — — 14.3 (14.3) —
Other operating (income) expense, net 6.4 — (4.5) — 1.9
Total operating costs and expenses 1,384.2 — 828.1 (14.3) 2,198.0
Income from operations 272.8 — 66.6 — 339.4
Interest expense, net 32.2 — 22.4 — 54.6
Income before income taxes 240.6 — 44.2 — 284.8
Income tax expense 78.4 — 6.3 — 84.7
Income from continuing operations 162.2 — 37.9 — 200.1
Equity in earnings of subsidiaries 37.9 200.1 — (238.0) —
Net income $ 200.1 $ 200.1 $ 37.9 (238.0) $ 200.1
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Source: Burger King Holdings Inc, 10-K, March 14, 2012 Powered by Morningstar® Document Research℠