Burger King 2011 Annual Report Download - page 144

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Table of Contents
BURGER KING HOLDINGS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements — (Continued)
Successor
BURGER KING CAPITAL HOLDINGS, LLC. AND SUBSIDIARIES
Condensed Consolidating Statements of Operations
2011
(Unaudited)
BKH Issuers Eliminations Consolidated
(In millions)
Revenues:
Company restaurant revenues $ 1,638.7 $ — $ — $ 1,638.7
Franchise and property revenues 697.0 — — 697.0
Total revenues 2,335.7 — — 2,335.7
Company restaurant expenses:
Food, paper and product costs 524.7 — — 524.7
Payroll and employee benefits 481.2 — — 481.2
Occupancy and other operating costs 441.5 — — 441.5
Total Company restaurant expenses 1,447.4 — — 1,447.4
Franchise and franchise property expenses 97.1 — — 97.1
Selling, general and administrative expenses 416.9 — — 416.9
Intercompany expenses — — — —
Other operating (income) expense, net 11.3 — — 11.3
Total operating costs and expenses 1,972.7 — — 1,972.7
Income from operations 363.0 — — 363.0
Interest expense, net 194.8 31.6 — 226.4
Loss on early extinguishment of debt 21.4 — — 21.4
Income (loss) before income taxes 146.8 (31.6) — 115.2
Income tax expense (benefit) 39.8 (11.6) — 28.2
Income (loss) from continuing operations 107.0 (20.0) — 87.0
Equity in earnings of subsidiaries — 107.0 (107.0) —
Net income $ 107.0 $ 87.0 $ (107.0) $ 87.0
143
Source: Burger King Holdings Inc, 10-K, March 14, 2012 Powered by Morningstar® Document Research℠