Common Shareholders' Equity

3 Months Ended

Mar. 31, 2015

Equity [Abstract]

Common Shareholders' Equity

Note 13. Common Shareholders’ Equity

Noncontrolling Interests

Noncontrolling interests represent equity interests in consolidated subsidiaries that are not attributable to us. As of March 31, 2015, the holders of Partnership exchangeable units held an economic interest of approximately 56.7% in Partnership common equity through 265,041,783 Partnership exchangeable units.

Pursuant to the terms of the partnership agreement, each Partnership exchangeable unit will be entitled to a distribution from Partnership in an amount equal to any dividends or distributions that we declare and pay with respect to each of our common shares. Additionally, each holder of a Partnership exchangeable unit is entitled to vote in respect of matters on which holders of our common shares are entitled to vote through a special voting share of RBI. Any time after the one year anniversary of the effective date of the Transactions, the holder of a Partnership exchangeable unit will have the right to require Partnership to exchange all or any portion of such holder’s Partnership exchangeable units for our common shares at a ratio of one common share for each Partnership exchangeable unit, subject to our right as the general partner of Partnership, in our sole discretion, to deliver a cash payment in lieu of our common shares. If we elect to make a cash payment in lieu of issuing common shares, the amount of the payment will be the weighted average trading price of the common shares on the New York Stock Exchange for the 20 consecutive trading days ending on the last business day prior to the exchange date.

We adjust the net income (loss) in our condensed consolidated statement of operations to exclude the noncontrolling interests’ proportionate share of results. Also, we present the proportionate share of equity attributable to the noncontrolling interests as a separate component of shareholders’ equity within our condensed consolidated balance sheet.

Accumulated Other Comprehensive Income (Loss)

The following table displays the change in the components of accumulated other comprehensive income (loss):

	Derivatives			Pensions			Foreign Currency Translation			Accumulated Other Comprehensive Income (Loss)
Balances at December 31, 2014	$	4.7		$	(4.5	)	$	(111.9	)	$	(111.7	)
Foreign currency translation adjustment		—			—			(1,091.8	)		(1,091.8	)
Net change in fair value of derivatives, net of tax		332.3			—			—			332.3
Amounts reclassified to earnings of cash flow hedges, net of tax		1.5			—			—			1.5
Pension and post-retirement benefit plans, net of tax		—			(0.1	)		—			(0.1	)
Amortization of prior service (credits) costs, net of tax		—			(0.4	)		—			(0.4	)
Amortization of actuarial (gains) losses, net of tax		—			0.4			—			0.4
OCI attributable to noncontrolling interests		(189.3	)		—			619.1			429.8
Balances at March 31, 2015	$	149.2		$	(4.6	)	$	(584.6	)	$	(440.0	)

The following table displays the reclassifications out of accumulated other comprehensive income (loss):

		Amounts Reclassified from AOCI
	Affected Line Item in the	Three Months Ended March 31,
Details about AOCI Components	Statements of Operations	2015			2014
Gains (losses) on cash flow hedges:
Interest rate derivative contracts	Interest expense, net	$	—		$	(2.0	)
Interest rate derivative contracts	Other operating expenses (income), net		(4.9	)		—
Forward-currency contracts	Cost of sales		2.8			—
	Total before tax		(2.1	)		(2.0	)
	Income tax (expense) benefit		0.6			0.8
	Net of tax	$	(1.5	)	$	(1.2	)
Defined benefit pension:
Amortization of prior service credits (costs)	SG&A (1)	$	0.7		$	—
Amortization of actuarial gains(losses)	SG&A (1)		(0.7	)		0.7
	Total before tax		—			0.7
	Income tax (expense) benefit		—			(0.2	)
	Net of tax	$	—		$	0.5
Total reclassifications	Net of tax	$	(1.5	)	$	(0.7	)

(1) Refers to selling, general and administrative expenses in the condensed consolidated statements of operations.