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Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2015
Debt Disclosure [Abstract]  
Summary of Long-Term Debt

Long-term debt is comprised of the following (in millions):

 

          As of  
     Maturity dates    December 31,
2015
     December 31,
2014
 
          

2014 Term Loan Facility

   December 12, 2021    $ 5,097.7       $ 6,750.0   

2015 Senior Notes

   January 15, 2022      1,250.0         —     

2014 Senior Notes

   April 1, 2022      2,250.0         2,250.0   

Tim Hortons Notes

   various      39.4         1,044.8   

Other

   N/A      88.5         107.9   

Less: unamortized discount and deferred financing costs

        (224.3      (217.3
     

 

 

    

 

 

 

Total debt, net

        8,501.3         9,935.4   

Less: current maturities of debt

        (39.0      (1,108.9
     

 

 

    

 

 

 

Total long-term debt

      $ 8,462.3       $ 8,826.5   
     

 

 

    

 

 

 
Summary of Aggregate Maturities of Long-Term Debt

The aggregate maturities of long-term debt as of December 31, 2015 are as follows (in millions):

 

Year Ended December 31,

   Principal Amount  

2016

   $ 39.0   

2017

     90.6   

2018

     56.9   

2019

     60.1   

2020

     57.6   

Thereafter

     8,421.4   
  

 

 

 

Total

   $ 8,725.6   
  

 

 

 
Schedule of Interest Expense, Net

Interest expense, net consists of the following (in millions):

 

     2015      2014      2013  

2014 Term Loan Facility

   $ 250.3       $ 54.8       $ —     

2015 Senior Notes

     35.2         —           —     

2014 Senior Notes

     135.0         31.1         —     

Tim Hortons Notes

     3.7         1.8         —     

2012 Term Loan Facility

     —           47.5         52.9   

Interest Rate Caps

     —           7.1         6.8   

2010 Senior Notes

     —           74.3         78.5   

2011 Discount Notes

     —           48.5         46.0   

Amortization of deferred financing costs and debt issuance discount

     34.9         11.7         10.3   

Capital lease obligations

     20.8         5.7         6.4   

Other

     2.6         0.9         1.7   

Interest income

     (4.2      (3.7      (2.6
  

 

 

    

 

 

    

 

 

 

Interest expense, net

   $ 478.3       $ 279.7       $ 200.0