Burger King 2012 Annual Report Download - page 129
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Table of Contents
On October 19, 2010, BKC issued the Senior Notes. The Senior Notes are irrevocably and unconditionally guaranteed, jointly and severally, on a
senior unsecured basis by Holdings and the U.S. subsidiaries of BKC (the “Guarantors”). On April 19, 2011, the Issuers issued the Discount Notes. In
August 2012, the Company entered into a Supplemental Indenture with respect to the Senior Notes and a Supplemental Indenture with respect to the Discount
Notes (the “Supplemental Indentures”) to guarantee BKC’s obligations under the Senior Notes and the Issuers’ obligations under the Discount Notes. The
Supplemental Indentures allow the financial reporting obligation under the Indentures to be satisfied through the reporting of the Company’s consolidated
financial information. The 2012 Credit Agreement allows the financial reporting obligation of BKC to be satisfied through the reporting of the Company’s
consolidated financial information, provided that the financial information of BKC and its subsidiaries is presented on a standalone basis. The non-U.S.
subsidiaries are identified below as Non-Guarantors.
The following represents the condensed consolidating financial information for BKC (Issuer), the Guarantors and the non-U.S. subsidiaries of BKC
(the “Non-Guarantors”), together with eliminations, as of and for the periods indicated. The condensed consolidating financial information of BKW is
combined with the financial information of BKCF and presented in a single column under the heading “BKW.” Selling, general and administrative expenses
in the condensed consolidating statements of operations only pertain to professional fees and other transaction costs incurred by BKW associated with the
Business Combination Agreement. The consolidating financial information may not necessarily be indicative of the financial position, results of operations or
cash flows had BKC, Guarantors and Non-Guarantors operated as independent entities.
128
Source: Burger King Worldwide, Inc., 10-K, February 22, 2013 Powered by Morningstar® Document Research℠
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