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Restaurant Brands International Limited Partnership (RSTRF) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Restaurant Brands International Limited

CIK: 1618755 Ticker: RSTRF


EXHIBIT 99
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Restaurant Brands International Inc. Reports Full Year and Fourth Quarter 2018 Results
RBI achieves consolidated 2018 system-wide sales growth of 7.4%, and increases 2019 dividend target by 11%
TIM HORTONS® comparable sales in Canada accelerates in Q4 to 2.2%, driven by the 'Winning Together' plan
BURGER KING® delivers strong global net restaurant growth, with 2018 net openings of over 1,000 restaurants
POPEYES® continues double-digit profitability growth through accelerated restaurant expansion
 
Toronto, Ontario – February 11, 2019 – Restaurant Brands International Inc. (TSX/NYSE: QSR, TSX: QSP) today reported financial results for the full year and fourth quarter ended December 31, 2018.
 
Jose Cil, Chief Executive Officer of Restaurant Brands International Inc. (“RBI”) commented, “I am pleased to report that our business continued to deliver strong system-wide sales growth in 2018, driven by acceleration of net restaurant growth at Burger King and Popeyes and improved momentum in comparable sales at Tim Hortons through our 'Winning Together' plan. We have demonstrated our increased focus on technology and made notable progress against many of our initiatives including delivery, kiosks, and mobile app development. Throughout the year, we continued to maintain a balanced approach to capital allocation through our increased dividend, share repurchases, and reinvestment in our brands, illustrating our confidence in the long-term growth potential of our business. We remain focused on further growing franchisee profitability and improving guest experience, which we believe will drive value for all of our stakeholders for many years to come.”

2018 Growth and Profitability Highlights:

System-wide Sales Growth of 7.4%
Net Restaurant Growth of 5.5%
Diluted EPS of $2.42 versus $2.54 in prior year
Adjusted Diluted EPS of $2.63 versus $2.10 in prior year
Net Income Attributable to Common Shareholders and Noncontrolling Interests of $1,143 million versus $1,211 million in prior year
Adjusted EBITDA of $2,212 million increased 4.1% organically versus the prior year on a combined basis (including a full year of Popeyes in both periods)

Dividend Update:

RBI announced that its board of directors declared a dividend of $0.50 per common share and partnership exchangeable unit of Restaurant Brands International Limited Partnership (“RBI LP”) for the first quarter of 2019
In connection with the declared dividend, RBI also announced that it is targeting a total of $2.00 in dividends per common share and partnership exchangeable unit of RBI LP for 2019
















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The following information was filed by Restaurant Brands International Limited Partnership (RSTRF) on Monday, February 11, 2019 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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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 (Details)
Derivative Instruments
Derivative Instruments (Tables)
Derivative Instruments - Additional Information (Details)
Derivative Instruments - Quantitative Disclosures Of Derivative Instruments Including Estimated Fair Values (Details)
Derivative Instruments - Summary Of Financial Assets And Liabilities Measured At Fair Value On Recurring Basis (Details)
Description Of Business And Organization
Description Of Business And Organization - Additional Information (Details)
Earnings Per Unit
Earnings Per Unit (Tables)
Earnings Per Unit - Basic And Diluted Earnings Per Unit (Details)
Equity
Equity (Tables)
Equity - Additional Information (Details)
Equity - Summary Of Change In The Components Of Accumulated Other Comprehensive Income (Loss) (Details)
Equity Method Investments
Equity Method Investments (Tables)
Equity Method Investments - Additional Information (Details)
Equity Method Investments - Summary Of Franchise And Property Revenue (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - A Reconciliation Of Beginning And Ending Amounts Of Unrecognized Tax Benefits (Details)
Income Taxes - Additional Information (Details)
Income Taxes - Income Before Income Taxes (Details)
Income Taxes - Income Tax (Benefit) Expense Attributable To Income From Continuing Operations (Details)
Income Taxes - Schedule Of Deferred Income Tax (Benefit) Expense Attributable To Income From Continuing Operations (Details)
Income Taxes - Schedule Of Income Tax (Benefit) Expense Allocated To Continuing Operations And Amounts Separately Allocated To Other Items (Details)
Income Taxes - Schedule Of The Deferred Tax Assets And Deferred Tax Liabilities (Details)
Income Taxes - Schedule Of Us Federal Tax Statutory Rate Reconciles To Effective Income Tax Rate (Details)
Income Taxes - Summary Of Amount And Expiration Dates Of Operating Loss And Tax Credit Carry-Forwards (Details)
Income Taxes - Summary Of Changes In Valuation Allowance (Details)
Intangible Assets, Net And Goodwill
Intangible Assets, Net And Goodwill (Tables)
Intangible Assets, Net And Goodwill - Additional Information (Details)
Intangible Assets, Net And Goodwill - Schedule Of Intangible Assets, Net And Goodwill (Details)
Intangible Assets, Net And Goodwill - Schedule Of The Estimated Future Amortization Expenses On Intangible Assets (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Summary Of Assets Lease, Property And Equipment, Net (Details)
Leases - Summary Of Future Minimum Lease Receipts And Commitments (Details)
Leases - Summary Of Net Investment, Direct Financing Leases (Details)
Leases - Summary Of Property Revenue (Details)
Leases - Summary Of Rent Expense Associated With Lease Commitments (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - 2015 4.625% Senior Notes (Details)
Long-Term Debt - 2017 4.25% Senior Notes (Details)
Long-Term Debt - 2017 5.00% Senior Notes (Details)
Long-Term Debt - Credit Facilities (Details)
Long-Term Debt - Debt Issuance Costs And Loss On Early Extinguishment Of Debt (Details)
Long-Term Debt - Other (Details)
Long-Term Debt - Restrictions And Covenants (Details)
Long-Term Debt - Schedule Of Interest Expense, Net (Details)
Long-Term Debt - Summary Of Aggregate Maturities Of Long-Term Debt (Details)
Long-Term Debt - Summary Of Long-Term Debt (Details)
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), Net (Details)
Other Operating Expenses (Income), Net
Other Operating Expenses (Income), Net (Tables)
Other Operating Expenses (Income), Net - Other Operating Expenses (Income), Net (Details)
Partnership Preferred Units
Partnership Preferred Units - Additional Information (Details)
Popeyes Acquisition
Popeyes Acquisition (Tables)
Popeyes Acquisition - Additional Information (Details)
Popeyes Acquisition - Schedule Of Preliminary Allocation Of Consideration To Net Tangible And Intangible Assets Acquired (Details)
Property And Equipment, Net
Property And Equipment, Net (Tables)
Property And Equipment, Net - Additional Information (Details)
Property And Equipment, Net - Summary Of Property And Equipment, Net (Details)
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited) (Tables)
Quarterly Financial Data (Unaudited) - Summarized Unaudited Quarterly Financial Data (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Additional Information (Details)
Revenue Recognition - Adjustments To Balance Sheet Due To Topic 606 And Pro Forma Adjustments (Details)
Revenue Recognition - Change In Contract Liabilities (Details)
Revenue Recognition - Disaggregation Of Total Revenues (Details)
Revenue Recognition - Estimated Revenue Recognition (Details)
Revenue Recognition - Pro Forma Adjustments To Cash Flow Statement (Details)
Revenue Recognition - Pro Forma Adjustments To Income Statement (Details)
Segment Reporting And Geographical Information
Segment Reporting And Geographical Information (Tables)
Segment Reporting And Geographical Information - (Income) Loss From Equity Method Investments (Details)
Segment Reporting And Geographical Information - Additional Information (Details)
Segment Reporting And Geographical Information - Capital Expenditure (Details)
Segment Reporting And Geographical Information - Depreciation And Amortization Expense (Details)
Segment Reporting And Geographical Information - Reconciliation Of Segment Income To Net Income (Loss) (Details)
Segment Reporting And Geographical Information - Revenues By Geographic Segment (Details)
Segment Reporting And Geographical Information - Schedule Of Segment Related Assets And Long Lived Assets (Details)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - Additional Information (Details)
Share-Based Compensation - Summary Of Option Activity Under The Various Plan (Details)
Share-Based Compensation - Summary Of Share-Based Compensation Expense (Details)
Share-Based Compensation - Summary Of The Significant Assumptions Used During The Year To Estimate The Fair Value Of Stock Options (Details)
Share-Based Compensation - Summary Of Time-Vested Rsus And Performance-Based Rsus Activity (Details)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Additional Information (Details)
Significant Accounting Policies - Reclassification Of Certain Assets (Details)
Significant Accounting Policies - Schedule Of Fair Value Measurements (Details)
Subsequent Events
Subsequent Events - Additional Information (Details)
Supplemental Financial Information
Supplemental Financial Information (Tables)
Supplemental Financial Information - Condensed Consolidating Balance Sheets (Details)
Supplemental Financial Information - Condensed Consolidating Statements Of Cash Flows (Details)
Supplemental Financial Information - Condensed Consolidating Statements Of Operations (Details)

Material Contracts, Statements, Certifications & more

Restaurant Brands International Limited Partnership provided additional information to their SEC Filing as exhibits

Ticker: RSTRF
CIK: 1618755
Form Type: 10-K Annual Report
Accession Number: 0001618755-19-000005
Submitted to the SEC: Fri Feb 22 2019 3:23:40 PM EST
Accepted by the SEC: Fri Feb 22 2019
Period: Monday, December 31, 2018
Industry: Retail Eating Places

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