Burger King 2012 Annual Report Download - page 88
Download and view the complete annual report
Please find page 88 of the 2012 Burger King annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78 -
79 -
80 -
81 -
82 -
83 -
84 -
85 -
86 -
87 -
88 -
89 -
90 -
91 -
92 -
93 -
94 -
95 -
96 -
97 -
98 -
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
 |
 |
Table of Contents
Intangible assets consist of the following (in millions):
Identifiable assets subject to amortization:
Franchise agreements $485.6 $(46.2) $439.4 $482.3 $ (25.8) $456.5 21.1 Years
Favorable leases 183.1 (40.2) 142.9 174.2 (22.0) 152.2 9.0 Years
Subtotal 668.7 (86.4) 582.3 656.5 (47.8) 608.7 18.1 years
Indefinite lived intangible assets — Brand $2,228.9 $ — $2,228.9 $2,214.6 $ — $2,214.6
Intangible assets, net $2,811.2 $2,823.3
Goodwill $619.2 $657.7
We recorded amortization expense on intangible assets of $38.2 million for 2012, $40.2 million for 2011 and $8.2 million for the period of October 19,
2010 to December 31, 2010. The Predecessor recorded amortization expense on intangible assets of $2.7 million for the period July 1, 2010 to October 18,
2010 and $8.7 million for Fiscal 2010.
As of December 31, 2012, the estimated future amortization expense on intangible assets is as follows (in millions).
2013 $38.1
2014 37.2
2015 36.0
2016 35.1
2017 34.3
Thereafter 401.6
Total $582.3
The change in the carrying amount of goodwill for the twelve months ended December 31, 2012 and 2011 is as follows (in millions):
Beginning balance $657.7 $666.5
Write off from refranchisings (28.6) (2.3)
Translation of foreign denominated balance 3.9 (6.5)
Transfer to assets held for sale (13.8) —
Ending balance $619.2 $657.7
87
Source: Burger King Worldwide, Inc., 10-K, February 22, 2013 Powered by Morningstar® Document Research℠
The information contained herein may not be copied, adapted or distributed and is not warranted to be accurate, complete or timely. The user assumes all risks for any damages or losses arising from any use of this
information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.