Restaurant Brands International Inc. (QSR) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
130 KING STREET WEST TORONTO, ON M5X 1E1 |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| Industry (SIC) | 5812 - Eating Places (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 6/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 913 | ||||||||
| Cash and cash equivalents | 913 | ||||||||
| Receivables | 749 | 614 | 547 | 536 | 527 | 452 | |||
| Inventory, net of allowances, customer advances and progress billings | 166 | 133 | 96 | 96 | 84 | 75 | |||
| Inventory | 166 | 133 | 96 | 96 | 84 | 75 | |||
| Capital leases, lessor balance sheet, net investment in direct financing and sales type leases | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 16 | ||
| Other undisclosed current assets | 1,258 | 1,301 | 1,173 | 1,632 | 1,585 | 44 | |||
| Total current assets: | 2,173 | 2,048 | 1,816 | 2,264 | 2,196 | 1,500 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 1,122 | 1,082 | 1,130 | 1,152 | 1,176 | ✕ | |||
| Net investment in lease, before allowance for credit loss | 82 | 80 | 66 | ✕ | |||||
| Property, plant and equipment | 1,329 | 1,400 | 1,510 | 2,007 | 1,996 | ||||
| Long-term investments and receivables | 163 | 167 | 194 | 54 | |||||
| Long-term investments | 163 | 167 | 194 | ||||||
| Capital leases, lessor balance sheet, net investment in direct financing and sales type leases | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 54 | ||
| Intangible assets, net (including goodwill) | 16,882 | 16,679 | 17,423 | 16,440 | 16,214 | 15,949 | |||
| Goodwill | 5,775 | 5,688 | 6,006 | 5,739 | 5,651 | 5,486 | |||
| Intangible assets, net (excluding goodwill) | 11,107 | 10,991 | 11,417 | 10,701 | 10,563 | 10,463 | |||
| Other noncurrent assets | 1,262 | 905 | 762 | 824 | 719 | 642 | |||
| Other undisclosed noncurrent assets | 460 | 383 | 331 | 2,031 | 48 | ||||
| Total noncurrent assets: | 21,218 | 20,698 | 21,430 | 20,513 | 20,164 | 18,641 | |||
| TOTAL ASSETS: | 23,391 | 22,746 | 23,246 | 22,777 | 22,360 | 20,141 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 1,795 | 1,759 | 1,561 | 1,299 | 1,434 | 1,317 | |||
| Accounts payable | 790 | 758 | 614 | 464 | 644 | 513 | |||
| Accrued liabilities | 1,005 | 1,001 | 947 | 835 | 790 | 804 | |||
| Debt | 101 | 127 | 96 | 111 | 101 | 91 | |||
| Other undisclosed current liabilities | 248 | 230 | 221 | 191 | 168 | ||||
| Total current liabilities: | 2,144 | 2,116 | 1,878 | 1,601 | 1,703 | 1,408 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 13,166 | 13,150 | 14,319 | 13,794 | 13,136 | 12,049 | |||
| Long-term debt, excluding current maturities | 12,854 | 12,839 | 12,916 | 12,397 | 11,759 | 11,823 | |||
| Capital lease obligations | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 226 | ||
| Finance lease, liability | 312 | 311 | 333 | 315 | 288 | ✕ | |||
| Liabilities, other than long-term debt | 3,351 | 3,212 | 3,196 | 3,661 | 3,262 | 1,547 | |||
| Deferred income tax liabilities | 1,296 | 1,313 | 1,374 | 1,425 | 1,564 | ✕ | |||
| Other liabilities | 996 | 872 | 1,822 | 2,236 | 1,698 | 1,547 | |||
| Operating lease, liability | 1,059 | 1,027 | 1,070 | 1,082 | 1,089 | ✕ | |||
| Other undisclosed noncurrent liabilities | 1,519 | ||||||||
| Total noncurrent liabilities: | 16,517 | 16,362 | 17,515 | 17,455 | 16,398 | 15,115 | |||
| Total liabilities: | 18,661 | 18,478 | 19,393 | 19,056 | 18,101 | 16,523 | |||
| Equity | |||||||||
| Equity, attributable to parent | 2,866 | 2,499 | 2,237 | 2,167 | 2,490 | 1,611 | |||
| Common stock | 1,973 | 2,057 | 2,156 | 2,399 | 2,478 | 1,737 | |||
| Accumulated other comprehensive loss | (706) | (679) | (710) | (854) | (763) | (800) | |||
| Retained earnings | 1,599 | 1,121 | 791 | 622 | 775 | 674 | |||
| Equity, attributable to noncontrolling interest | 1,864 | 1,769 | 1,616 | 1,554 | 1,769 | 2,007 | |||
| Total equity: | 4,730 | 4,268 | 3,853 | 3,721 | 4,259 | 3,618 | |||
| TOTAL LIABILITIES AND EQUITY: | 23,391 | 22,746 | 23,246 | 22,777 | 22,360 | 20,141 | |||
Income Statement (P&L) ($ in millions)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 7,022 | 6,505 | 5,739 | 4,968 | 5,603 | 5,357 | ||
| Cost of revenue | (4,267) | (3,976) | (2,390) | (2,282) | (2,332) | (2,226) | ||
| Cost of goods and services sold | (2,435) | (2,312) | (1,890) | (1,610) | (1,813) | (1,818) | ||
| Gross profit: | 2,755 | 2,529 | 3,349 | 2,686 | 3,271 | 3,131 | ||
| Operating expenses | (704) | (631) | (1,470) | (1,264) | (1,264) | (1,214) | ||
| Other operating income (expense), net | (55) | (25) | (7) | (105) | 10 | (8) | ||
| Other undisclosed operating income (loss) | 55 | 25 | 7 | 105 | (10) | 8 | ||
| Operating income: | 2,051 | 1,898 | 1,879 | 1,422 | 2,007 | 1,917 | ||
| Nonoperating income (Investment Income, Nonoperating) | 40 | 7 | 3 | 9 | 20 | 15 | ||
| Interest and debt expense | (35) | (19) | (31) | (118) | (43) | (23) | ||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (497) | (532) | (527) | |||||
| Income from continuing operations before equity method investments, income taxes: | 2,056 | 1,886 | 1,851 | 816 | 1,452 | 1,382 | ||
| Loss from equity method investments | (39) | |||||||
| Other undisclosed loss from continuing operations before income taxes | (603) | (521) | (488) | |||||
| Income from continuing operations before income taxes: | 1,453 | 1,365 | 1,363 | 777 | 1,452 | 1,382 | ||
| Income tax expense (benefit) | 265 | 117 | (110) | (66) | (341) | (238) | ||
| Income from continuing operations: | 1,718 | 1,482 | 1,253 | 711 | 1,111 | 1,144 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 1,253 | 711 | 1,111 | 1,144 | |
| Other undisclosed net income | 39 | |||||||
| Net income: | 1,718 | 1,482 | 1,253 | 750 | 1,111 | 1,144 | ||
| Net loss attributable to noncontrolling interest | (528) | (474) | (415) | (264) | (468) | (532) | ||
| Net income available to common stockholders, basic: | 1,190 | 1,008 | 838 | 486 | 643 | 612 | ||
| Other undisclosed net income available to common stockholders, diluted | 525 | 471 | 411 | 262 | 466 | 531 | ||
| Net income available to common stockholders, diluted: | 1,715 | 1,479 | 1,249 | 748 | 1,109 | 1,143 | ||
Comprehensive Income ($ in millions)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 1,718 | 1,482 | 1,253 | 750 | 1,111 | 1,144 | ||
| Other comprehensive income (loss) | (12) | 51 | 251 | (97) | 259 | (553) | ||
| Comprehensive income: | 1,706 | 1,533 | 1,504 | 653 | 1,370 | 591 | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (525) | (490) | (499) | (224) | (571) | (276) | ||
| Comprehensive income, net of tax, attributable to parent: | 1,181 | 1,043 | 1,005 | 429 | 799 | 315 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.