Burger King 2013 Annual Report Download - page 79
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Table of Contents
Other accrued liabilities (current) and other liabilities, net (non-current) consist of the following (in millions):
Current:
Accrued compensation and benefits $ 30.9 $ 49.0
Restructuring and other provisions 16.0 14.6
Interest payable 16.9 16.9
Casualty insurance - current portion 5.1 7.3
Gift card liabilities 22.0 18.2
Income tax payable 5.2 2.8
Deferred income 19.5 18.1
Lease liability - current portion 9.8 8.0
Other 51.6 71.9
Other accrued liabilities $177.0 $ 206.8
Non-current:
Accrued pension $37.4 $ 77.7
Unfavorable leases 116.6 169.1
Casualty insurance - noncurrent 13.1 18.6
Retiree health benefits 7.4 8.0
Deferred compensation 6.0 7.8
Income tax payable 31.6 26.3
Derivatives liability 25.9 11.0
Lease liability - noncurrent 38.6 32.2
Other 41.3 31.7
Other liabilities, net $ 317.9 $382.4
Long-term debt is comprised of the following (in millions):
Tranche A Term Loans 2017 $ 991.4 $ 1,023.6 3.2% 3.1%
Tranche B Term Loans (b) 2019 689.4 695.1 4.5% 4.5%
9 7/8 % Senior Notes 2018 794.5 794.5 10.1% 10.1%
11.0% Discount Notes (c) 2019 453.1 407.1 11.5% 11.5%
Deferred Premiums on interest rate caps 2016 22.0 29.0 2.5% 2.5%
Other N/A 0.7 0.9
Total debt 2,951.1 2,950.2
Less: current maturities of debt (70.9) (45.1)
Total long-term debt $ 2,880.2 $2,905.1
(a) Represents the effective interest rate for the instrument computed on a quarterly basis, including the amortization of deferred debt issuance costs and
original issue discount, as applicable, and in the case of our term loans, the effect of interest rate caps.
(b) Principal face amount herein is presented net of a discount of $6.7 million at December 31, 2013 and $8.1 million at December 31, 2012.
(c) Principal face amount herein is presented net of a discount of $126.0 million at December 31, 2013 and $172.0 million at December 31, 2012.
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Source: Burger King Worldwide, Inc., 10-K, February 21, 2014 Powered by Morningstar® Document Research℠
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