Burger King 2013 Annual Report Download - page 101

Table of Contents
The following table displays the reclassifications out of accumulated other comprehensive income (loss):



   

Interest rate derivative contracts Interest expense, net $ (6.1) $ (3.2) $ 1.0
Other operating expenses (income), net — (8.4) —
Total before tax (6.1) (11.6) 1.0
Income tax (expense) benefit 2.3 4.6 (0.4)
Net of tax $(3.8) $(7.0) $ 0.6

Amortization of prior service costs SG&A (1) $3.0 $2.6 $ —
Amortization of actuarial gains(losses) SG&A (1) (1.2) — —
Total before tax 1.8 2.6 —
Income tax (expense) benefit (0.8) (1.0) —
Net of tax $1.0 $1.6 $ —


Sale of foreign entity Other operating expenses (income), net (3.0) — —
 Net of tax $ (5.8) $(5.4) $ 0.6
(1) Refers to selling, general and administrative expenses in the audited condensed consolidated statements of operations.

On February 2, 2011, the Board of Directors of Burger King Worldwide Holdings, Inc. (“Worldwide”) approved and adopted the Burger King
Worldwide Holdings, Inc. 2011 Omnibus Incentive Plan (the “2011 Omnibus Plan”). The 2011 Omnibus Plan generally provides for the grant of awards to
employees, directors, consultants and other persons who provide services to Worldwide and its subsidiaries. All stock options and restricted stock units
(RSUs) under the 2011 Omnibus Plan outstanding on June 20, 2012 were assumed by the Company and converted into stock options to acquire common
stock of the Company (the “Common Stock”) and RSUs of the Company, and the Company assumed all of the obligations of Worldwide under the 2011
Omnibus Plan.
On June 20, 2012, our Board of Directors adopted the Burger King Worldwide, Inc. 2012 Omnibus Incentive Plan (the “2012 Omnibus Plan”). The
2012 Omnibus Plan generally provides for the grant of awards to employees, directors and other persons who provide services to the Company and its
subsidiaries. The Board also froze the 2011 Omnibus Plan. We are currently issuing stock awards under the Burger King Worldwide, Inc. Amended and
Restated 2012 Omnibus Incentive Plan (the “Plan”), which increased the shares available for issuance under the Plan from 8,500,000 to 14,500,000. The Plan
was approved by our stockholders at our annual meeting on May 15, 2013.
Our plans permit the grant of several types of awards with respect to the Common Stock, including stock options, restricted stock units, restricted
stock and performance shares. Awards are granted with an exercise price or market value equal to the closing price of the Company’s common stock on the
preceding trading day to the date of grant. The Company satisfies stock option exercises through the issuance of authorized but previously unissued shares of
the Company’s stock or treasury shares. Stock options generally cliff vest five years from the original grant date, provided the employee is continuously
employed by BKC or one of its subsidiaries, and the options expire ten years following the grant date. Additionally, if the Company terminates the
employment of an option holder without cause prior to the vesting date, or if the employee dies, retires or becomes disabled, the employee will become vested in
the number of options as if the options vested 20% of each anniversary of the grant date. If there is an event such as a return of capital or dividend that is
determined to be dilutive, the exercise price of the awards may be adjusted accordingly.
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Source: Burger King Worldwide, Inc., 10-K, February 21, 2014 Powered by Morningstar® Document Research℠
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