Burger King 2013 Annual Report Download - page 114

Table of Contents

Condensed Consolidating Statements of Cash Flows
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      

Net income $ 233.7 $ 233.7 $ 262.9 $ 262.9 $ 166.4 $ (925.9) $ 233.7
Adjustments to reconcile net income to net cash provided by
(used for) operating activities:
Equity in earnings of consolidated subsidiaries (233.7) (262.9) (166.4) (262.9) — 925.9 —
Depreciation and amortization — — 45.7 — 20.1 — 65.8
Amortization of deferred financing costs and debt issuance
discount — 46.7 9.6 — — — 56.3
Equity in net (income) loss from unconsolidated affiliates — — 5.5 — 7.2 — 12.7
Loss (gain) on remeasurement of foreign denominated
transactions — — (1.5) — 1.8 — 0.3
Amortization of defined benefit pension and postretirement
items — — (1.5) — (0.6) — (2.1)
Realized loss on terminated caps/swaps — — 6.1 — — — 6.1
Net loss (gain) on refranchisings and dispositions of assets — — 6.1 — (10.0) — (3.9)
Bad debt expense (recoveries), net — — 1.6 — 0.4 — 2.0
Share-based compensation — — 10.8 — 4.0 — 14.8
Deferred income taxes (1.1) 20.6 7.1 — 5.5 — 32.1
Changes in current assets and liabilities, excluding acquisitions
and dispositions:
Trade and notes receivables — — (0.9) — (6.7) — (7.6)
Prepaids and other current assets — — (8.9) — 1.1 — (7.8)
Accounts and drafts payable — — (24.6) — (6.0) — (30.6)
Accrued advertising — — (1.5) — (9.1) — (10.6)
Other accrued liabilities — — 2.4 — (7.8) — (5.4)
Other long-term assets and liabilities — — (31.2) — 0.6 — (30.6)
Net cash provided by (used for) operating activities (1.1) 38.1 121.3 — 166.9 — 325.2

Payments for property and equipment — — (22.7) — (2.8) — (25.5)
Proceeds from refranchisings, disposition of assets and
restaurant closures — — 45.8 — 19.0 — 64.8
Payments for acquired franchisee operations, net of cash
acquired — — (11.9) — — — (11.9)
Return of investment on direct financing leases — — 14.3 — 1.1 — 15.4
Other investing activities — — 0.2 — — — 0.2
Net cash provided by investing activities — — 25.7 — 17.3 — 43.0

Repayments of term debt and capital leases — — (53.8) — (3.4) — (57.2)
Proceeds from stock option exercises 6.0 — — — — — 6.0
Excess tax benefits from share-based compensation — — 10.1 — — — 10.1
Dividends paid on common stock (84.3) — — — — — (84.3)
Repurchases of common stock (7.3) — — — — — (7.3)
Intercompany financing 92.3 (38.1) 94.6 — (148.8) — (0.0)
Net cash provided by (used for) financing activities 6.7 (38.1) 50.9 — (152.2) — (132.7)
Effect of exchange rates on cash and cash equivalents — — — — 4.7 — 4.7
Increase (decrease) in cash and cash equivalents 5.6 — 197.9 — 36.7 — 240.2
Cash and cash equivalents at beginning of period 0.1 — 355.3 — 191.3 — 546.7
 $5.7 $ — $553.2 $ — $228.0 $ — $786.9
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Source: Burger King Worldwide, Inc., 10-K, February 21, 2014 Powered by Morningstar® Document Research℠
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