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Restaurant Brands International Inc. (QSR) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Restaurant Brands International Inc.

CIK: 1618756 Ticker: QSR

Exhibit 99

 

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Restaurant Brands International Inc. Reports Full Year and Fourth Quarter 2016 Results

Oakville, Ontario – February 13, 2017 – Restaurant Brands International Inc. (TSX/NYSE: QSR, TSX: QSP) today reported financial results for the full year and fourth quarter ended December 31, 2016.

Daniel Schwartz, Chief Executive Officer of Restaurant Brands International Inc. (“RBI”) commented, “We are pleased to report another year of solid results, with strong financial performance in the fourth quarter. Our continued focus on guest satisfaction and value creation for all of our stakeholders has resulted in accelerated restaurant development and continued system-wide sales growth at both of our iconic brands, TIM HORTONS® and BURGER KING®. We are excited about our progress this year and are committed to building on these results to achieve long-term sustainable growth.”

Full Year 2016 Highlights:

 

    RBI Total Revenues of $4,145.8 million versus $4,052.2 million in prior year

 

    RBI Net Income Attributable to Common Shareholders of $345.6 million versus $103.9 million in prior year

 

    RBI Diluted EPS of $1.45 versus $0.50 in prior year

 

    Tim Hortons (“TH”) comparable sales increased 2.5% and Burger King (“BK”) comparable sales increased 2.3% in constant currency

 

    Restaurant count increased 4.5% at TH and 4.9% at BK year-over-year

 

    System-wide sales grew 5.2% at TH and 7.8% at BK in constant currency

 

    RBI Adjusted EBITDA of $1,888.2 million was up 16.4% on an organic basis versus prior year results

 

    RBI Adjusted Diluted EPS of $1.58 was up 45.0% versus prior year results

 

    RBI declared dividends of $0.62 per common share and partnership exchangeable unit of Restaurant Brands International Limited Partnership in 2016, up 40.9% versus prior year declared dividends

Fourth Quarter 2016 Highlights:

 

    RBI Total Revenues of $1,111.4 million versus $1,057.0 million in prior year period

 

    RBI Net Income Attributable to Common Shareholders of $118.4 million versus $51.7 million in prior year period

 

    RBI Diluted EPS of $0.50 versus $0.25 in prior year period

 

    TH comparable sales increased 0.2% and BK comparable sales increased 2.8% in constant currency

 

    System-wide sales grew 2.4% at TH and 8.5% at BK in constant currency

 

    RBI Adjusted EBITDA of $512.4 million was up 16.4% on an organic basis versus prior year results

 

    RBI Adjusted Diluted EPS of $0.44 was up 37.5% versus prior year results


The following information was filed by Restaurant Brands International Inc. (QSR) on Monday, February 13, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Comprehensive Income (loss) (parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (parenthetical)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (detail)
Derivative Instruments
Derivative Instruments (tables)
Derivative Instruments - Additional Information (detail)
Derivative Instruments - Quantitative Disclosures Of Derivative Instruments (detail)
Derivative Instruments - Summary Of Fair Value Measurements (detail)
Description Of Business And Organization
Description Of Business And Organization (tables)
Description Of Business And Organization - Additional Information (detail)
Description Of Business And Organization - Restaurant Count For Geographic Areas (detail)
Description Of Business And Organization - Schedule Of Unaudited Consolidated Proforma Acquisitions (detail)
Earnings Per Share
Earnings Per Share (tables)
Earnings Per Share - Additional Information (detail)
Earnings Per Share - Basic And Diluted Earnings Per Share (detail)
Earnings Per Share - Basic And Diluted Earnings Per Share (parenthetical) (detail)
Equity Method Investments
Equity Method Investments (tables)
Equity Method Investments - Additional Information (detail)
Equity Method Investments - Summary Of Equity Method Investment (detail)
Equity Method Investments - Summary Of Franchise And Property Revenue (detail)
Franchise And Property Revenues
Franchise And Property Revenues (tables)
Franchise And Property Revenues - Summary Of Franchise And Property Revenues (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - A Reconciliation Of Beginning And Ending Amounts Of Unrecognized Tax Benefits (detail)
Income Taxes - Additional Information (detail)
Income Taxes - Income (loss) Before Income Taxes (detail)
Income Taxes - Income Tax Expense (benefit) Attributable To Income From Continuing Operations (detail)
Income Taxes - Schedule Of Deferred Income Tax Expense (benefit) Attributable To Income From Continuing Operations (detail)
Income Taxes - Schedule Of Income Tax Expense (benefit) Allocated To Continuing Operations And Amounts Separately Allocated To Other Items (detail)
Income Taxes - Schedule Of The Deferred Tax Assets And Deferred Tax Liabilities (detail)
Income Taxes - Schedule Of Us Federal Tax Statutory Rate Reconciles To Effective Income Tax Rate (detail)
Income Taxes - Summary Of Amount And Expiration Dates Of Operating Loss And Tax Credit Carry-forwards (detail)
Income Taxes - Summary Of Changes In Valuation Allowance (detail)
Intangible Assets, Net And Goodwill
Intangible Assets, Net And Goodwill (tables)
Intangible Assets, Net And Goodwill - Additional Information (detail)
Intangible Assets, Net And Goodwill - Schedule Of Intangible Assets, Net And Goodwill (detail)
Intangible Assets, Net And Goodwill - Schedule Of The Estimated Future Amortization Expenses On Intangible Assets (detail)
Leases
Leases (tables)
Leases - Additional Information (detail)
Leases - Summary Of Assets Lease, Property And Equipment, Net (detail)
Leases - Summary Of Future Minimum Lease Receipts And Commitments (detail)
Leases - Summary Of Future Minimum Lease Receipts And Commitments (parenthetical) (detail)
Leases - Summary Of Net Investment, Direct Financing Leases (detail)
Leases - Summary Of Property Revenue (detail)
Leases - Summary Of Rent Expense Associated With Lease Commitments (detail)
Leases - Summary Of Rent Expense Associated With Lease Commitments (parenthetical) (detail)
Long-term Debt
Long-term Debt (tables)
Long-term Debt - 2015 Senior Notes - Additional Information (detail)
Long-term Debt - Credit Facilities - Additional Information (detail)
Long-term Debt - Debt Issuance Costs - Additional Information (detail)
Long-term Debt - Loss On Early Extinguishment Of Debt - Additional Information (detail)
Long-term Debt - Restrictions And Covenants - Additional Information (detail)
Long-term Debt - Schedule Of Interest Expense, Net (detail)
Long-term Debt - Summary Of Aggregate Maturities Of Long-term Debt (detail)
Long-term Debt - Summary Of Long-term Debt (detail)
Long-term Debt - Summary Of Long-term Debt (parenthetical) (detail)
Other Accrued Liabilities And Other Liabilities
Other Accrued Liabilities And Other Liabilities (tables)
Other Accrued Liabilities And Other Liabilities, Net - Schedule Of Other Accrued Liabilities (current) And Other Liabilities (noncurrent), Net (detail)
Other Operating Expenses (income), Net
Other Operating Expenses (income), Net (tables)
Other Operating Expenses (income), Net - Additional Information (detail)
Other Operating Expenses (income), Net - Other Operating Expenses (income), Net (detail)
Property And Equipment, Net
Property And Equipment, Net (tables)
Property And Equipment, Net - Additional Information (detail)
Property And Equipment, Net - Summary Of Property And Equipment, Net (detail)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (tables)
Quarterly Financial Data (unaudited) - Summarized Unaudited Quarterly Financial Data (detail)
Redeemable Preferred Shares
Redeemable Preferred Shares - Additional Information (detail)
Segment Reporting - (income) Loss From Equity Method Investments (detail)
Segment Reporting - Additional Information (detail)
Segment Reporting - Capital Expenditure (detail)
Segment Reporting - Depreciation And Amortization Expense (detail)
Segment Reporting - Reconciliation Of Segment Income To Net Income (loss) (detail)
Segment Reporting - Revenues By Operating Segment And Country (detail)
Segment Reporting - Revenues By Operating Segment And Country (parenthetical) (detail)
Segment Reporting - Schedule Of Segment Related Assets And Long Lived Assets (detail)
Segment Reporting And Geographical Information
Segment Reporting And Geographical Information (tables)
Share-based Compensation
Share-based Compensation (tables)
Share-based Compensation - Additional Information (detail)
Share-based Compensation - Summary Of Option Activity Under The Various Plan (detail)
Share-based Compensation - Summary Of Share-based Compensation Expense (detail)
Share-based Compensation - Summary Of Share-based Compensation Expense (parenthetical) (detail)
Share-based Compensation - Summary Of The Significant Assumptions Used During The Year To Estimate The Fair Value Of Stock Options (detail)
Share-based Compensation - Summary Of Time-vested Rsus And Performance-based Rsus Activity (detail)
Shareholders' Equity
Shareholders' Equity (tables)
Shareholders' Equity - Additional Information (detail)
Shareholders' Equity - Reclassifications Out Of Aoci (detail)
Shareholders' Equity - Summary Of Change In Components Of Aoci (detail)
Significant Accounting Policies
Significant Accounting Policies (policies)
Significant Accounting Policies - Additional Information (detail)
Subsequent Events
Subsequent Events - Additional Information (detail)
Ticker: QSR
CIK: 1618756
Form Type: 10-K Annual Report
Accession Number: 0001193125-17-048122
Submitted to the SEC: Fri Feb 17 2017 5:15:24 PM EST
Accepted by the SEC: Fri Feb 17 2017
Period: Saturday, December 31, 2016
Industry: Retail Eating Places

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