← Restaurant Brands International Inc.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Available to Common Stockholders, Basic $345.6m $626.1m $612.0m $643.0m $486.0m $838.0m $1.0b $1.2b $1.0b $776.0m
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $955.9m $1.2b $1.1b $1.1b $750.0m $1.3b $1.5b $1.7b $1.4b $1.1b
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest — — — — — — — $1.7b $1.4b $1.2b
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest — — — — — — — $0 $0 ($126.0m)
Net Income (Loss) Attributable to Noncontrolling Interest $340.3m $586.5m $532.0m $468.0m $264.0m $415.0m $474.0m $528.0m $424.0m $299.0m
Depreciation and amortization $172.1m $181.1m $180.0m $185.0m $189.0m $201.0m $190.0m $191.0m $264.0m $301.0m
Depreciation, Depletion and Amortization, Nonproduction $172.1m $181.1m $180.0m $185.0m $189.0m $201.0m $190.0m $191.0m $264.0m $301.0m
Amortization of Debt Issuance Costs and Discounts $38.9m $32.7m $29.0m $29.0m $26.0m $27.0m $28.0m $27.0m $25.0m $25.0m
Amortization of Intangible Assets $71.9m $72.4m $70.0m $44.0m $43.0m $41.0m $39.0m $37.0m $58.0m $69.0m
Depreciation $144.1m $149.7m $148.0m $136.0m $140.0m $148.0m $135.0m $137.0m $186.0m $210.0m
Deferred Income Tax Expense (Benefit) $80.1m ($742.4m) $29.0m $58.0m ($208.0m) ($5.0m) ($60.0m) ($430.0m) ($5.0m) $97.0m
Share-based Payment Arrangement, Noncash Expense $35.1m $48.3m $48.0m $68.0m $74.0m $102.0m $136.0m $194.0m $172.0m $151.0m
Share-based Payment Arrangement, Expense $35.1m $60.4m $48.0m $68.0m $74.0m $88.0m $121.0m $177.0m $161.0m $137.0m
Gain (Loss) on Sale of Assets and Asset Impairment Charges ($17.7m) ($28.6m) ($19.0m) ($7.0m) ($6.0m) ($2.0m) ($4.0m) ($16.0m) ($3.0m) ($35.0m)
Goodwill and Intangible Asset Impairment — $0 $0 $0 $0 $0 $0 $0 $0 $0
Gain (Loss) on Extinguishment of Debt — ($122.0m) $0 ($23.0m) ($98.0m) ($11.0m) $0 ($16.0m) ($33.0m) ($2.0m)
Income (Loss) from Equity Method Investments $20.2m $12.4m $22.0m $11.0m ($39.0m) ($4.0m) ($44.0m) $8.0m $69.0m $11.0m
Income Tax Expense (Benefit) $243.9m ($133.6m) $238.0m $341.0m $66.0m $110.0m ($117.0m) ($265.0m) $364.0m $483.0m
Operating Lease, Lease Income — — — $833.0m $718.0m $787.0m $806.0m $839.0m $833.0m $828.0m
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Accounts Payable $27.5m $19.9m $41.0m $112.0m ($183.0m) $149.0m $169.0m $22.0m ($30.0m) $89.0m
Accounts Receivable, Credit Loss Expense (Reversal) — — — — $33.0m — — — — —
Proceeds from Stock Options Exercised $13.7m $28.7m $61.0m $102.0m $82.0m $60.0m $21.0m $60.0m $78.0m $33.0m
Accrued capital expenditures $33.7m $36.7m $86.0m $62.0m $117.0m $106.0m $100.0m $120.0m $201.0m $265.0m
Equity Securities, FV-NI, Realized Gain (Loss) — — — $0 $0 $0 $0 $0 $0 $0
Foreign Currency Transaction Gain (Loss), before Tax $20.1m ($77.3m) $33.0m $15.0m ($100.0m) $76.0m $4.0m ($20.0m) $71.0m ($209.0m)
Foreign Currency Transaction Gain (Loss), Unrealized $20.1m ($77.3m) $33.0m $14.0m ($100.0m) $76.0m $4.0m ($20.0m) $71.0m ($209.0m)
General and Administrative Expense — — — — — $508.0m $631.0m $704.0m $733.0m $741.0m
Goodwill $4.7b $5.8b $5.5b $5.7b $5.7b $6.0b $5.7b $5.8b $6.0b $6.3b
Investment Income, Interest $4.1m $26.4m $15.0m $20.0m $9.0m $3.0m $7.0m $40.0m $39.0m $31.0m
Payments of Financing Costs — $62.9m $3.0m $50.0m $43.0m $19.0m $0 $44.0m $41.0m $0
Financing Receivable, Credit Loss, Expense (Reversal) — — — — — — $19.0m $20.0m $24.0m $21.0m
Derivative, Gain (Loss) on Derivative, Net — $0 — — — — — — — —
Gain (Loss) on Derivative Instruments, Net, Pretax — — $40.0m $49.0m ($32.0m) ($87.0m) $9.0m $151.0m $191.0m $198.0m
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax ($15.7m) ($25.4m) — — — — — — — —
Other Operating Income (Expense), Net $700k ($109.2m) ($8.0m) $10.0m ($105.0m) ($7.0m) ($25.0m) ($55.0m) $59.0m ($261.0m)
Net Cash Provided by (Used in) Operating Activities $1.3b $1.4b $1.2b $1.5b $921.0m $1.7b $1.5b $1.3b $1.5b $1.7b
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $33.7m $36.7m $86.0m $62.0m $117.0m $106.0m $100.0m $120.0m $201.0m $265.0m
Payments to Acquire Businesses, Net of Cash Acquired — — — $0 $0 $1.0b $12.0m $0 $508.0m $152.0m
Payments for (Proceeds from) Other Investing Activities ($3.0m) ($500k) ($1.0m) $0 $7.0m $14.0m $35.0m $18.0m $27.0m $15.0m
Net Cash Provided by (Used in) Investing Activities $26.9m ($857.8m) ($44.0m) ($30.0m) ($79.0m) ($1.1b) ($64.0m) $11.0m ($660.0m) ($318.0m)
Cash flows from financing activities:
Proceeds from Issuance of Long-term Debt $0 $5.8b $75.0m $2.2b $5.2b $1.3b $2.0m $55.0m $2.5b $0
Repayments of Long-term Debt $69.7m $2.7b $74.0m $2.3b $4.7b $889.0m $94.0m $92.0m $2.2b $427.0m
Proceeds from Issuance of Common Stock — — — — — — $30.0m $0 $0 —
Payments for Repurchase of Common Stock — — — — — $551.0m $326.0m $500.0m $0 $0
Dividends paid $538.1m $663.5m $728.0m $901.0m $959.0m $974.0m $971.0m $990.0m $1.0b $1.1b
Payments of Dividends $538.1m $663.5m $728.0m $901.0m $959.0m $974.0m $971.0m $990.0m $1.0b $1.1b
Dividends Payable, Current $146.1m $96.9m $207.0m $232.0m $239.0m $241.0m $243.0m $245.0m $262.0m $283.0m
Proceeds from (Payments for) Other Financing Activities ($5.4m) ($10.1m) $5.0m $0 ($2.0m) ($4.0m) ($3.0m) ($4.0m) ($2.0m) ($1.0m)
Net Cash Provided by (Used in) Financing Activities ($590.9m) ($935.2m) ($1.3b) ($842.0m) ($821.0m) ($1.1b) ($1.3b) ($1.4b) ($625.0m) ($1.4b)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents ($2.4m) $24.0m ($20.0m) $16.0m $6.0m ($3.0m) ($28.0m) $1.0m ($23.0m) $16.0m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect ($2.4m) $24.0m ($20.0m) $620.0m $27.0m ($473.0m) $91.0m ($39.0m) $195.0m ($105.0m)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — — $1.5b $1.6b $1.1b $1.2b $1.1b $1.3b $1.2b
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities $407.1m $447.2m $561.0m $584.0m $463.0m $404.0m $487.0m $761.0m $785.0m $714.0m
Income Taxes Paid, Net $159.3m $200.2m $433.0m $248.0m $267.0m $256.0m $275.0m $290.0m $293.0m $450.0m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.