Burger King 2013 Annual Report Download - page 111

Table of Contents

Condensed Consolidating Statements of Operations

   

  
Revenues:
Company restaurant revenues $ — $ — $ 76.0 $ — $ 146.7 $ — $ 222.7
Franchise and property revenues — — 609.9 — 313.7 — 923.6
Intercompany revenues — — 1.6 — (1.6) — —
Total revenues — — 687.5 — 458.8 — 1,146.3
Company restaurant expenses:
Food, paper and product costs — — 23.9 — 46.7 — 70.6
Payroll and employee benefits — — 21.6 — 46.5 — 68.1
Occupancy and other operating costs — — 19.2 — 37.4 — 56.6
Total Company restaurant expenses — — 64.7 — 130.6 — 195.3
Franchise and property expenses — — 107.7 — 44.7 — 152.4
Selling, general and administrative expenses — — 170.3 — 72.1 — 242.4
Intercompany expenses — — (4.1) — 4.1 — —
Other operating (income) expenses, net — — 25.1 — 8.9 — 34.0
Total operating costs and expenses — — 363.7 — 260.4 — 624.1
Income (loss) from operations — — 323.8 — 198.4 — 522.2
Interest expense, net — 46.7 149.6 — 3.7 — 200.0
Loss on early extinguishment of debt — — — — — — —
Income (loss) before income taxes — (46.7) 174.2 — 194.7 — 322.2
Income tax expense (benefit) — (17.5) 77.7 — 28.3 — 88.5
Income (loss) from continuing operations — (29.2) 96.5 — 166.4 — 233.7
Equity in earnings of consolidated subsidiaries 233.7 262.9 166.4 262.9 — (925.9) —
Net income (loss) $233.7 $233.7 $262.9 $262.9 $166.4 $(925.9) $233.7
Total comprehensive income (loss) $398.6 $398.6 $427.8 $427.8 $216.5 $(1,470.7) $398.6

Condensed Consolidating Statements of Operations

   

  
Revenues:
Company restaurant revenues $ — $ — $ 662.5 $ — $ 506.5 $ — $ 1,169.0
Franchise and property revenues — — 528.9 — 273.0 — 801.9
Intercompany revenues — — 6.8 — (6.8) — —
Total revenues — — 1,198.2 — 772.7 — 1,970.9
Company restaurant expenses:
Food, paper and product costs — — 218.1 — 164.1 — 382.2
Payroll and employee benefits — — 198.3 — 146.8 — 345.1
Occupancy and other operating costs — — 168.2 — 141.7 — 309.9
Total Company restaurant expenses — — 584.6 — 452.6 — 1,037.2
Franchise and property expenses — — 76.3 — 38.8 — 115.1
Selling, general and administrative expenses 14.0 — 219.6 — 114.0 — 347.6
Intercompany expenses — — 5.5 — (5.5) — —
Other operating (income) expenses, net — — 54.0 — (0.7) — 53.3
Total operating costs and expenses 14.0 — 940.0 — 599.2 — 1,553.2
Income (loss) from operations (14.0) — 258.2 — 173.5 — 417.7
Interest expense, net — 44.0 170.9 — 8.9 — 223.8
Loss on early extinguishment of debt — 9.7 24.5 — — — 34.2
Income (loss) before income taxes (14.0) (53.7) 62.8 — 164.6 — 159.7
Income tax expense (benefit) (2.2) (20.0) 42.9 — 21.3 — 42.0
Income (loss) from continuing operations (11.8) (33.7) 19.9 — 143.3 — 117.7
Equity in earnings of consolidated subsidiaries 129.5 163.2 143.3 163.2 — (599.2) —
Net income (loss) $117.7 $129.5 $ 163.2 $ 163.2 $143.3 $(599.2) $117.7
Total comprehensive income (loss) $120.7 $ 132.5 $166.2 $166.2 $158.8 $(623.7) $120.7
Source: Burger King Worldwide, Inc., 10-K, February 21, 2014 Powered by Morningstar® Document Research℠
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