Burger King 2012 Annual Report Download - page 116

Table of Contents
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
 
 
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




 





 

Gain (loss) recognized in other comprehensive
income (effective portion) $ 35.8 $ — $0.1 $35.9 $(2.4) $(0.1) $ (2.5)
Gain (loss) reclassified from AOCI into interest
expense, net(1) $ — $ — $ — $ — $(4.9) $ — $(4.9)


Gain (loss) recognized in other operating expense, net $ — $(0.2) $ 17.2 $17.0 $ — $(42.4) $(42.4)
(1) Includes $0.4 million of gain for the period July 1, 2010 to October 18, 2010 related to terminated hedges and zero for the period October 19, 2010 to
December 31, 2010.
The net amount of pre-tax gains and losses in accumulated other comprehensive income (loss) as of December 31, 2012 that we expect to be reclassified
into earnings within the next 12 months is $6.1 million of losses.


On October 28, 2012, our Board of Directors approved a cash dividend of $0.04 per share, which was paid on November 29, 2012 to shareholders of
record at the close of business on November 9, 2012. On December 16, 2011, we paid a dividend to our shareholders, principally 3G, in the amount of
$393.4 million, representing the net proceeds from the sale of the Discount Notes. We paid a cash dividend of $0.0625 per share on September 30, 2010 to the
Predecessor’s shareholders of record at the close of business on September 14, 2010. Total dividends paid by the Predecessor during the period of July 1, 2010
to October 18, 2010 were $8.6 million. Total dividends paid to the Predecessor’s shareholders were $34.2 million in fiscal 2010.
Although we do not currently have a dividend policy, we may declare dividends periodically if our Board of Directors determines that it is in the best
interests of the shareholders. The terms of the 2012 Credit Agreement, Senior Notes Indenture and Discount Notes Indenture limit our ability to pay cash
dividends in certain circumstances. In addition, because we are a holding company, our ability to pay cash dividends on shares (including fractional shares)
of our common stock may be limited by restrictions on our ability to obtain sufficient funds through dividends from our subsidiaries, including the
restrictions under the 2012 Credit Agreement, Senior Notes Indenture and Discount Notes Indenture. Subject to the foregoing, the payment of cash dividends
in the future, if any, will be at the discretion of our Board of Directors and will depend upon such factors as earnings levels, capital requirements, our overall
financial condition and any other factors deemed relevant by our Board of Directors.

We have a bonus program under which eligible employees may elect to use a portion of their annual bonus compensation to purchase BKW common
shares. During 2012, we issued approximately 1.5 million shares to participants in this program, for aggregate consideration of $5.4 million.
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Source: Burger King Worldwide, Inc., 10-K, February 22, 2013 Powered by Morningstar® Document Research℠
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