Burger King 2012 Annual Report Download - page 35

Table of Contents
 



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









Cash and cash equivalents $546.7 $ 459.0 $207.0 $187.6 $ 121.7 $166.0
Total assets(2) 5,564.0 5,608.4 5,686.2 2,747.2 2,707.1 2,686.5
Total debt and capital lease
obligations(2) 3,049.3 3,139.2 2,792.1 826.3 888.9 947.4
Total liabilities(2) 4,389.0 4,559.2 4,239.0 1,618.8 1,732.3 1,842.0
Total stockholders’ equity(2) 1,175.0 1,049.2 1,447.2 1,128.4 974.8 844.5
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
 
 



   

System-wide sales
growth(3)(4) 5.9% 1.7% 2.2% 2.1% 4.2% 8.3%
Comparable sales
growth(3)(4)(5) 3.2% (0.5)% (2.7)% (2.3)% 1.2% 5.4%
Franchise Sales (in millions)(4) $14,672.5 $13,653.4 $6,721.2 $13,055.3 $12,788.7 $12,892.5
Company Restaurant Margin Percentage(6) 11.3% 11.7% 12.9% 12.2% 12.6% 14.3%
(1) Amount includes $30.2 million of global portfolio realignment project costs and $27.0 million of business combination agreement expenses for 2012.
Amount includes $3.7 million of 2010 Transaction costs, $46.5 million of global restructuring and related professional fees, $10.6 million of field
optimization project costs and $7.6 million of global portfolio realignment project costs for 2011. Amount includes $94.9 million of 2010 Transaction
costs and $67.2 million of global restructuring and related professional fees for October 19, 2010 to December 31, 2010.
(2) Amounts in the successor periods reflect the application of acquisition accounting as a result of the 3G Acquisition. Refer to Note 1 to our audited
Consolidated Financial Statements included in this report.
(3) Comparable sales growth and system-wide sales growth are analyzed on a constant currency basis, which means they are calculated by translating
current year results at prior year average exchange rates, to remove the effects of currency fluctuations from these trend analyses. We believe these
constant currency measures provide a more meaningful analysis of our business by identifying the underlying business trends, without distortion from
the effect of foreign currency movements.
(4) Unless otherwise stated, comparable sales growth and system-wide sales growth are presented on a system-wide basis, which means they include
Company restaurants and franchise restaurants. Franchise sales represent sales at all franchise restaurants and are revenues to our franchisees. We do
not record franchise sales as revenues; however, our royalty revenues are calculated based on a percentage of franchise sales. See “ 
 ” in Part II, Item 7 of this report.
(5) Comparable sales growth refers to the change in restaurant sales in one period from the same prior year period for restaurants that have been opened or
acquired for thirteen months or longer. Company restaurants refranchised during a period will be included in the calculation of comparable sales growth
for franchise restaurants during the period.
(6) Company restaurant margin is derived by subtracting Company restaurant expenses from Company restaurant revenues, which we analyze as a
percentage of Company restaurant revenues, a metric we refer to as Company restaurant margin percentage.
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Source: Burger King Worldwide, Inc., 10-K, February 22, 2013 Powered by Morningstar® Document Research℠
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