Burger King 2013 Annual Report Download - page 116

Table of Contents

Condensed Consolidating Statements of Cash Flows
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      

Net income $ 88.1 $ 87.9 $ 107.0 $ 107.0 $ 88.5 $ (390.4) $ 88.1
Adjustments to reconcile net income to net cash provided by
(used for) operating activities:
Equity in earnings of consolidated subsidiaries (87.9) (107.0) (88.5) (107.0) — 390.4 —
Depreciation and amortization — — 91.2 — 45.2 — 136.4
(Gain) loss on early extinguishment of debt — (0.3) 21.4 — — — 21.1
Amortization of deferred financing costs and debt
issuance discount — 31.8 14.5 — — — 46.3
Equity in net (income) loss from unconsolidated affiliates — — 1.2 — — — 1.2
(Gain) loss on remeasurement of foreign denominated
transactions — — 0.6 — (0.2) — 0.4
Realized loss on terminated caps/swaps — — 0.5 — — — 0.5
Net loss (gain) on refranchisings and dispositions of
assets — — (4.1) — 3.1 — (1.0)
Impairment on non-restaurant properties — — 2.0 — 0.3 — 2.3
Bad debt expense (recoveries), net — — 6.0 — 0.1 — 6.1
Share-based compensation — — 1.0 — 0.2 — 1.2
Deferred income taxes — 3.1 (36.8) — 6.4 — (27.3)
Changes in current assets and liabilities, excluding acquisitions
and dispositions:
Trade and notes receivables — — (9.6) — 3.6 — (6.0)
Prepaids and other current assets — — 96.4 — 9.1 — 105.5
Accounts and drafts payable — — 2.8 — 5.9 — 8.7
Accrued advertising — — 11.3 — 7.0 — 18.3
Other accrued liabilities — (2.4) 14.2 — 9.4 — 21.2
Other long-term assets and liabilities — (13.3) 11.1 — (9.7) (4.9) (16.8)
Net cash provided by (used for) operating activities 0.2 (0.2) 242.2 — 168.9 (4.9) 406.2

Payments for property and equipment — — (62.5) — (19.6) — (82.1)
Proceeds from refranchisings, disposition of assets and
restaurant closures — — 15.6 — 14.3 — 29.9
Investments in / advances to unconsolidated entities — — — — (4.5) — (4.5)
Return of investment on direct financing leases — — 13.5 — 1.1 — 14.6
Other investing activities — — 0.7 — — — 0.7
Net cash used for investing activities — — (32.7) — (8.7) — (41.4)

Proceeds from term debt — — 1,860.0 — — — 1,860.0
Proceeds from discount notes — 401.5 — — — — 401.5
Repayments of term debt and capital leases — — (1,870.8) — (3.7) — (1,874.5)
Extinguishment of debt — (7.6) (63.0) — — — (70.6)
Payment of financing costs — (9.5) (23.1) — — — (32.6)
Proceeds from issuance of shares 1.6 — — — — — 1.6
Dividends paid on common stock (385.8) — (7.6) — — — (393.4)
Intercompany financing 384.2 (384.2) 44.3 (0.7) (48.5) 4.9 —
Net cash provided by (used for) financing activities — 0.2 (60.2) (0.7) (52.2) 4.9 (108.0)
Effect of exchange rates on cash and cash equivalents — — 5.0 — (9.8) — (4.8)
Increase (decrease) in cash and cash equivalents 0.2 — 154.3 (0.7) 98.2 — 252.0
Cash and cash equivalents at beginning of period — — 132.8 0.7 73.5 — 207.0
 $0.2 $ — $ 287.1 $ — $ 171.7 $ — $ 459.0

On February 12, 2014, our board declared a cash dividend of $0.07 per share, which will be paid on March 12, 2014 to shareholders of record on
February 26, 2014.
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Source: Burger King Worldwide, Inc., 10-K, February 21, 2014 Powered by Morningstar® Document Research℠
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