Burger King 2012 Annual Report Download - page 139

Table of Contents
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




   

  

Net loss $(115.7) $(101.6) $(100.7) $(101.6) $(25.1) $329.0 $(115.7)
Adjustments to reconcile net loss to net cash provided by (used for) operating activities:
Equity in earnings of subsidiary 101.6 101.6 25.1 100.7 — (329.0) —
Depreciation and amortization — — 16.6 — 11.0 — 27.6
Transaction costs 17.2 — — — — — 17.2
Amortization of deferred financing cost and debt issuance discount — — 2.6 — — — 2.6
(Gain) on remeasurement of foreign denominated transactions — — (2.0) — (1.2) — (3.2)
Loss on refranchisings and dispositions of assets — — 0.8 — — — 0.8
Impairment on non-restaurant properties — — 0.6 — — — 0.6
Bad debt expense, net of recoveries — — 2.1 — 0.7 — 2.8
Deferred income taxes (3.1) — (20.4) — 10.6 — (12.9)
Changes in current assets and liabilities, excluding acquisitions and dispositions:
Trade and notes receivables — — (25.8) — (6.7) — (32.5)
Prepaids and other current assets — — (72.6) — 2.0 — (70.6)
Accounts and drafts payable — — (35.4) — 8.9 — (26.5)
Accrued advertising — — 9.1 — (2.3) — 6.8
Other accrued liabilities — — 45.1 13.0 — 58.1
Other long-term assets and liabilities — — 21.8 — (3.2) (0.2) 18.4
Net cash (used for) provided by operating activities 0.0 — (133.1) (0.9) 7.7 (0.2) (126.5)

Payments for property and equipment — — (18.4) — (10.0) — (28.4)
Proceeds from refranchisings, disposition of assets and restaurant closures — — 2.2 — 3.5 — 5.7
Return of investment on direct financing leases — — 1.9 — 0.2 — 2.1
Other investing activities — — 1.4 — — — 1.4
Net payment for purchase of BKH — — — (3,325.4) — — (3,325.4)
Net cash used for investing activities — — (12.9) (3,325.4) (6.3) — (3,344.6)

Repayments of term debt and capital leases — — (3.2) — — — (3.2)
Proceeds from New Term Loans and other debt — — — 1,837.1 — — 1,837.1
Proceeds from Senior Notes — — — 800.0 — — 800.0
Payment of deferred financing cost — — (69.2) — — — (69.2)
Extinguishment of debt — — (731.8) — — — (731.8)
Capital contribution from 3G — — — 1,563.5 — — 1,563.5
Capital distribution from Parent — — 875.2 (875.2) — — —
Intercompany Financing — — (3.9) 0.9 2.8 0.2 —
Net cash provided by financing activities — — 67.1 3,326.3 2.8 0.2 3,396.4
Effect of exchange rates on cash and cash equivalents — — (0.4) — (4.3) — (4.7)
Decrease in cash and cash equivalents 0.0 — (79.3) — (0.1) — (79.4)
Cash and cash equivalents at beginning of period — — 212.2 0.7 73.5 — 286.4
 $0.0 $— $132.9 $0.7 $73.4 $— $207.0
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Source: Burger King Worldwide, Inc., 10-K, February 22, 2013 Powered by Morningstar® Document Research℠
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