XML 24 R89.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidating Statements of Cash Flows (Detail) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:        
Net income (loss) $ 90.8 $ 75.1 $ 143.8 $ 135.5
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 51.2 15.8 102.1 32.2
(Gain) loss on early extinguishment of debt 39.9   39.6  
Amortization of deferred financing costs and debt issuance discount     15.3 30.1
(Income) loss from equity method investments 5.3 5.9 2.5 9.9
Loss (gain) on remeasurement of foreign denominated transactions     27.5 (2.3)
Amortization of defined benefit pension and postretirement items     (0.1) (1.6)
Net losses (gains) on derivatives     46.6 4.2
Net losses (gains) on refranchisings and dispositions of assets     (0.6) 3.6
Bad debt expense (recoveries), net     0.7 (0.2)
Share-based compensation expense     22.5 6.0
Acquisition accounting impact on cost of sales     0.8  
Deferred income taxes     (92.5) 5.0
Changes in current assets and liabilities, excluding acquisitions and dispositions:        
Reclassification of restricted cash to cash and cash equivalents     79.2  
Trade and notes receivable     59.9 11.4
Inventories and other current assets     5.0 7.7
Accounts and drafts payable     39.3 (8.4)
Accrued advertising     6.2 (13.1)
Other accrued liabilities     35.9 4.8
Other long-term assets and liabilities     (25.5) (11.7)
Net cash provided by operating activities     508.2 213.1
Cash flows from investing activities:        
Payments for property and equipment     (57.0) (7.2)
Proceeds (payments) from refranchisings, disposition of assets and restaurant closures     10.7 (6.8)
Return of investment on direct financing leases     8.0 7.7
Settlement of derivatives, net     11.5  
Other investing activities     2.3 (0.3)
Net cash provided by (used for) investing activities     (24.5) (6.6)
Cash flows from financing activities:        
Proceeds from Senior Notes     1,250.0  
Repayments of term debt, Tim Hortons Notes and capital leases     (2,592.4) (38.3)
Payment of financing costs     (81.3)  
Distributions on partnership units     (124.5)  
Capital contributions from RBI Inc.     0.5  
Other financing activities     (0.7)  
Net cash provided by (used for) financing activities     (1,548.4) (87.6)
Effect of exchange rates on cash and cash equivalents     (52.8) (1.1)
Increase (decrease) in cash and cash equivalents     (1,117.5) 117.8
Cash and cash equivalents at beginning of period     1,803.2 786.9
Cash and cash equivalents at end of period 685.7 $ 904.7 685.7 $ 904.7
Borrowers [Member]        
Cash flows from operating activities:        
Net income (loss) 90.8   143.8  
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization     102.1  
(Gain) loss on early extinguishment of debt 39.9   39.6  
Amortization of deferred financing costs and debt issuance discount     15.3  
(Income) loss from equity method investments 5.3   2.5  
Loss (gain) on remeasurement of foreign denominated transactions     27.5  
Amortization of defined benefit pension and postretirement items     (0.1)  
Net losses (gains) on derivatives     46.6  
Net losses (gains) on refranchisings and dispositions of assets     (0.6)  
Bad debt expense (recoveries), net     0.7  
Share-based compensation expense     22.5  
Acquisition accounting impact on cost of sales     0.8  
Deferred income taxes     (92.5)  
Changes in current assets and liabilities, excluding acquisitions and dispositions:        
Reclassification of restricted cash to cash and cash equivalents     79.2  
Trade and notes receivable     59.9  
Inventories and other current assets     5.0  
Accounts and drafts payable     39.3  
Accrued advertising     6.2  
Other accrued liabilities     35.9  
Other long-term assets and liabilities     (25.5)  
Net cash provided by operating activities     508.2  
Cash flows from investing activities:        
Payments for property and equipment     (57.0)  
Proceeds (payments) from refranchisings, disposition of assets and restaurant closures     10.7  
Return of investment on direct financing leases     8.0  
Settlement of derivatives, net     11.5  
Other investing activities     2.3  
Net cash provided by (used for) investing activities     (24.5)  
Cash flows from financing activities:        
Proceeds from Senior Notes     1,250.0  
Repayments of term debt, Tim Hortons Notes and capital leases     (2,592.4)  
Payment of financing costs     (81.3)  
Other financing activities     (0.7)  
Intercompany financing     (124.0)  
Net cash provided by (used for) financing activities     (1,548.4)  
Effect of exchange rates on cash and cash equivalents     (52.8)  
Increase (decrease) in cash and cash equivalents     (1,117.5)  
Cash and cash equivalents at beginning of period     1,803.2  
Cash and cash equivalents at end of period 685.7   685.7  
Restaurant Brands International Limited Partnership [Member]        
Cash flows from operating activities:        
Net income (loss) 90.8   143.8  
Adjustments to reconcile net income to net cash provided by operating activities:        
Equity in loss (earnings) of consolidated subsidiaries (90.8)   (143.8)  
Cash flows from financing activities:        
Distributions on partnership units     (124.5)  
Capital contributions from RBI Inc.     0.5  
Intercompany financing     124.0  
Eliminations [Member]        
Cash flows from operating activities:        
Net income (loss) (90.8)   (143.8)  
Adjustments to reconcile net income to net cash provided by operating activities:        
Equity in loss (earnings) of consolidated subsidiaries $ 90.8   $ 143.8