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Restaurant Brands International Limited Partnership (RSTRF) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Restaurant Brands International Limited

CIK: 1618755 Ticker: RSTRF

Exhibit 99

 

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Restaurant Brands International Reports Full Year and Fourth Quarter 2014 Results

Oakville, Ontario – February 17th, 2015 – Restaurant Brands International Inc. (TSX/NYSE: QSR, TSX: QSP) today reported financial results for the full year and fourth quarter ended December 31, 2014.

Restaurant Brands International (RBI) Chief Executive Officer, Daniel Schwartz commented, “Positive business momentum in the fourth quarter capped a transformational year for our company. Both the TIM HORTONS® and BURGER KING® brands continue to deliver positive comparable sales growth and best in class net restaurant growth. With the creation of Restaurant Brands International, a new global powerhouse in the quick-service restaurant industry, we believe both brands are well positioned for long-term sustainable growth and we are excited to introduce the iconic TIM HORTONS® brand to the rest of the world.”

Full Year 2014 Highlights:

 

    Tim Hortons (TH) comparable sales increased 3.1% and Burger King (BK) comparable sales increased 2.1%

 

    Delivered 186 net restaurant growth (NRG) at TH and 705 NRG at BK

 

    System-wide sales grew 6.6% at TH and 6.8% at BK in constant currency

 

    TH Adjusted EBITDA grew 10.5% on an organic basis to $816 million

 

    BK Adjusted EBITDA grew 11.5% on an organic basis to $726 million

 

    Paid Burger King Worldwide Inc. dividends of $0.30 per share or approximately $106 million

Fourth Quarter 2014 Highlights:

 

    TH comparable sales increased 4.1% and BK comparable sales increased 3.0%

 

    Delivered 81 NRG at TH and 412 NRG at BK

 

    System-wide sales grew 7.4% at TH and 7.7% at BK in constant currency

 

    TH Adjusted EBITDA grew 10.2% on an organic basis to $209 million

 

    BK Adjusted EBITDA grew 8.8% on an organic basis to $189 million

 

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The following information was filed by Restaurant Brands International Limited Partnership (RSTRF) on Tuesday, February 17, 2015 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 Equity
Consolidated Statements Of Equity (parenthetical)
Consolidated Statements Of Operations
Commitments And Contingencies
Commitments And Contingencies - Additional Information (detail)
Common Equity
Common Equity (tables)
Common Equity - Additional Information (detail)
Common Equity - Reclassifications Out Of Accumulated Other Comprehensive Income (loss) (detail)
Common Equity - Summary Of Change In The Components Of Accumulated Other Comprehensive Income (loss) (detail)
Condensed Consolidating Balance Sheets (detail)
Condensed Consolidating Statements Of Cash Flows (detail)
Condensed Consolidating Statements Of Operations (detail)
Derivative Instruments
Derivative Instruments (tables)
Derivative Instruments - Additional Information (detail)
Derivative Instruments - Quantitative Disclosures Of Derivative Instruments (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)
Description Of Business And Organization - Summary Of Assets Acquired And Liabilities Assumed (detail)
Description Of Business And Organization - Summary Of Total Consideration (detail)
Description Of Business And Organization - Summary Of Total Consideration (parenthetical) (detail)
Earnings Per Share - Basic And Diluted Earnings Per Share (detail)
Earnings Per Share - Basic And Diluted Earnings Per Share (parenthetical) (detail)
Earnings Per Unit/share
Earnings Per Unit/share (tables)
Earnings Per Unit/share - Additional Information (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)
Equity-based Compensation
Equity-based Compensation (tables)
Equity-based Compensation - Additional Information (detail)
Equity-based Compensation - Summary Of Option Activity Under The Various Plan (detail)
Equity-based Compensation - Summary Of Rsu Activity (detail)
Equity-based Compensation - Summary Of Share-based Compensation Expense (detail)
Equity-based Compensation - Summary Of Share-based Compensation Expense (parenthetical) (detail)
Equity-based Compensation - Summary Of The Significant Assumptions Used During The Year To Estimate The Fair Value Of Stock Options (detail)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Additional Information (detail)
Fair Value Measurements - Summary Of Financial Assets And Liabilities Measured At Fair Value On Recurring Basis (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 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 Tax Rate (detail)
Income Taxes - Schedule Of Us Federal Tax Statutory Rate Reconciles To Effective Tax Rate (parenthetical) (detail)
Income Taxes - Summary Of Amount And Expiration Dates Of Operating Loss And Tax Credit Carryforwards (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 Changes In The Carrying Amount Of Goodwill By Geographic Segment (detail)
Intangible Assets, Net And Goodwill - Schedule Of The Estimated Future Amortization Expenses On Intangible Assets (detail)
Inventories And Other Current Assets, Net
Inventories And Other Current Assets, Net (tables)
Leases
Leases (tables)
Leases - Additional Information (detail)
Leases - Estimated Future Amortization Of Favorable And Unfavorable Lease Contracts (detail)
Leases - Impact Of Favorable And Unfavorable Lease Amortization On Operating Income (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 - 2011 Amended Credit Agreement - Additional Information (detail)
Long-term Debt - 2012 Credit Agreement - Additional Information (detail)
Long-term Debt - 2014 Credit Agreement - Additional Information (detail)
Long-term Debt - 2014 Senior Notes - Additional Information (detail)
Long-term Debt - 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)
Long-term Debt - Tim Hortons Notes - Additional Information (detail)
Other Accrued Liabilities And Other Liabilities
Other Accrued Liabilities And Other Liabilities (tables)
Other Accrued Liabilities And Other Liabilities - Schedule Of Other Accrued Liabilities (current) And Other Liabilities (non-current) (detail)
Other Assets, Net
Other Assets, Net (tables)
Other Assets, Net - Other Assets, Net (detail)
Other Operating (income) Expenses, Net
Other Operating (income) Expenses, Net (tables)
Other Operating (income) Expenses, Net - Additional Information (detail)
Other Operating (income) Expenses, Net - Other Operating (income) Expenses, Net (detail)
Partnership Preferred Units
Partnership Preferred Units - Additional Information (detail)
Pension And Post Retirement Medical Benefits
Pension And Post Retirement Medical Benefits (tables)
Pension And Post Retirement Medical Benefits - Additional Information (detail)
Pension And Post Retirement Medical Benefits - Change In Benefit Obligations, Fair Value Of Plan Assets And Amounts Recognized (detail)
Pension And Post Retirement Medical Benefits - Fair Value Of Major Categories Of Pension Plan (detail)
Pension And Post Retirement Medical Benefits - Health Care Trend Rates (detail)
Pension And Post Retirement Medical Benefits - Other Changes In Plan Assets And Projected Benefit Obligation Recognized In Other Comprehensive Income (detail)
Pension And Post Retirement Medical Benefits - Projected Benefit Obligation, Accumulated Benefit Obligation And Fair Value Of Plan Assets (detail)
Pension And Post Retirement Medical Benefits - Projected Expected Payments For Pension Plans (detail)
Pension And Post Retirement Medical Benefits - Summary Of Net Periodic Benefit Costs (income) (detail)
Pension And Post Retirement Medical Benefits - Weighted Average Assumption Used In Computing Benefit Obligations (detail)
Pension And Post Retirement Medical Benefits - Weighted Average Assumption Used In Computing Net Periodic Benefit Cost (detail)
Prepaids And Other Current Assets, Net - Schedule Of Inventories And Other Current Assets, Net (detail)
Property And Equipment, Net
Property And Equipment, Net (tables)
Property And Equipment, Net - Additional Information (detail)
Property And Equipment, Net - Schedule Of Property, Plant And Equipment Under Capital Lease (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)
Sales And Cost Of Sales
Sales And Cost Of Sales (tables)
Sales And Cost Of Sales - Schedule Of Sales And Cost Of Sales (detail)
Segment Reporting
Segment Reporting (tables)
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 (detail)
Segment Reporting - Revenues By Geographic Segment (detail)
Segment Reporting - Schedule Of Segment Related Assets And Long Lived Assets (detail)
Subsequent Event
Subsequent Event - Additional Information (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Additional Information (detail)
Summary Of Significant Accounting Policies - Summary Of Useful Life Of Assets (detail)
Supplemental Financial Information
Supplemental Financial Information (tables)
Trade And Notes Receivable, Net
Trade And Notes Receivable, Net (tables)
Trade And Notes Receivable, Net - Change In Allowances For Doubtful Accounts (detail)
Trade And Notes Receivable, Net - Trade And Notes Receivable, Net (detail)
Variable Interest Entities
Variable Interest Entities (tables)
Variable Interest Entities - Summary Of Assets And Liabilities Of Variable Interest Entities (detail)
Ticker: RSTRF
CIK: 1618755
Form Type: 10-K Annual Report
Accession Number: 0001193125-15-089362
Submitted to the SEC: Thu Mar 12 2015 4:49:39 PM EST
Accepted by the SEC: Thu Mar 12 2015
Period: Wednesday, December 31, 2014
Industry: Retail Eating Places

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