XML 82 R72.htm IDEA: XBRL DOCUMENT v3.23.1
Supplemental Financial Information - Condensed Consolidating Statements of Cash Flows (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 277 $ 270
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in loss (earnings) of consolidated subsidiaries 0 0
Depreciation and amortization 46 49
Amortization of deferred financing costs and debt issuance discount 7 7
(Income) loss from equity method investments 7 13
(Gain) loss on remeasurement of foreign denominated transactions 8 (21)
Net (gains) losses on derivatives (34) 18
Share-based compensation and non-cash incentive compensation expense 45 27
Deferred income taxes (28) (16)
Other 1 9
Changes in current assets and liabilities, excluding acquisitions and dispositions:    
Accounts and notes receivable (8) (46)
Inventories and prepaids and other current assets (20) (22)
Accounts and drafts payable (81) 18
Other accrued liabilities and gift card liability (123) (91)
Tenant inducements paid to franchisees (6) (2)
Other long-term assets and liabilities 4 21
Net cash provided by operating activities 95 234
Cash flows from investing activities:    
Payments for property and equipment (18) (10)
Net proceeds from disposal of assets, restaurant closures, and refranchisings 4 4
Settlement/sale of derivatives, net 14 3
Other investing activities, net 0 4
Net cash (used for) provided by investing activities 0 1
Cash flows from financing activities:    
Proceeds from long-term debt 0 1
Repayments of long-term debt and finance leases (32) (21)
Distributions on Class A common and Partnership exchangeable units (243) (241)
Distribution to RBI for repurchase of RBI common shares 0 (161)
Capital contribution from RBI 6 3
Distributions from subsidiaries 0 0
(Payments) proceeds from derivatives 29  
(Payments) proceeds from derivatives   (6)
Other financing activities, net 0 (1)
Net cash (used for) provided by financing activities (240) (426)
Effect of exchange rates on cash and cash equivalents 0 (1)
Increase (decrease) in cash and cash equivalents (145) (192)
Cash and cash equivalents at beginning of period 1,178 1,087
Cash and cash equivalents at end of period 1,033 895
Eliminations    
Cash flows from operating activities:    
Net income (277) (270)
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in loss (earnings) of consolidated subsidiaries 277 270
Depreciation and amortization 0 0
Amortization of deferred financing costs and debt issuance discount 0 0
(Income) loss from equity method investments 0 0
(Gain) loss on remeasurement of foreign denominated transactions 0 0
Net (gains) losses on derivatives 0 0
Share-based compensation and non-cash incentive compensation expense 0 0
Deferred income taxes 0 0
Other 0 0
Changes in current assets and liabilities, excluding acquisitions and dispositions:    
Accounts and notes receivable 0 0
Inventories and prepaids and other current assets 0 0
Accounts and drafts payable 0 0
Other accrued liabilities and gift card liability 0 0
Tenant inducements paid to franchisees 0 0
Other long-term assets and liabilities 0 0
Net cash provided by operating activities 0 0
Cash flows from investing activities:    
Payments for property and equipment 0 0
Net proceeds from disposal of assets, restaurant closures, and refranchisings 0 0
Settlement/sale of derivatives, net 0 0
Other investing activities, net   0
Net cash (used for) provided by investing activities 0 0
Cash flows from financing activities:    
Proceeds from long-term debt   0
Repayments of long-term debt and finance leases 0 0
Distributions on Class A common and Partnership exchangeable units 0 0
Distribution to RBI for repurchase of RBI common shares   0
Capital contribution from RBI 0 0
Distributions from subsidiaries 0 0
(Payments) proceeds from derivatives 0  
(Payments) proceeds from derivatives   0
Other financing activities, net   0
Net cash (used for) provided by financing activities 0 0
Effect of exchange rates on cash and cash equivalents 0 0
Increase (decrease) in cash and cash equivalents 0 0
Cash and cash equivalents at beginning of period 0 0
Cash and cash equivalents at end of period 0 0
Consolidated Borrowers | Reportable Legal Entities    
Cash flows from operating activities:    
Net income 277 270
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in loss (earnings) of consolidated subsidiaries 0 0
Depreciation and amortization 46 49
Amortization of deferred financing costs and debt issuance discount 7 7
(Income) loss from equity method investments 7 13
(Gain) loss on remeasurement of foreign denominated transactions 8 (21)
Net (gains) losses on derivatives (34) 18
Share-based compensation and non-cash incentive compensation expense 45 27
Deferred income taxes (28) (16)
Other 1 9
Changes in current assets and liabilities, excluding acquisitions and dispositions:    
Accounts and notes receivable (8) (46)
Inventories and prepaids and other current assets (20) (22)
Accounts and drafts payable (81) 18
Other accrued liabilities and gift card liability (123) (91)
Tenant inducements paid to franchisees (6) (2)
Other long-term assets and liabilities 4 21
Net cash provided by operating activities 95 234
Cash flows from investing activities:    
Payments for property and equipment (18) (10)
Net proceeds from disposal of assets, restaurant closures, and refranchisings 4 4
Settlement/sale of derivatives, net 14 3
Other investing activities, net   4
Net cash (used for) provided by investing activities 0 1
Cash flows from financing activities:    
Proceeds from long-term debt   1
Repayments of long-term debt and finance leases (32) (21)
Distributions on Class A common and Partnership exchangeable units 0 0
Distribution to RBI for repurchase of RBI common shares   0
Capital contribution from RBI 6 3
Distributions from subsidiaries (243) (402)
(Payments) proceeds from derivatives 29  
(Payments) proceeds from derivatives   (6)
Other financing activities, net   (1)
Net cash (used for) provided by financing activities (240) (426)
Effect of exchange rates on cash and cash equivalents 0 (1)
Increase (decrease) in cash and cash equivalents (145) (192)
Cash and cash equivalents at beginning of period 1,178 1,087
Cash and cash equivalents at end of period 1,033 895
RBILP | Reportable Legal Entities    
Cash flows from operating activities:    
Net income 277 270
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in loss (earnings) of consolidated subsidiaries (277) (270)
Depreciation and amortization 0 0
Amortization of deferred financing costs and debt issuance discount 0 0
(Income) loss from equity method investments 0 0
(Gain) loss on remeasurement of foreign denominated transactions 0 0
Net (gains) losses on derivatives 0 0
Share-based compensation and non-cash incentive compensation expense 0 0
Deferred income taxes 0 0
Other 0 0
Changes in current assets and liabilities, excluding acquisitions and dispositions:    
Accounts and notes receivable 0 0
Inventories and prepaids and other current assets 0 0
Accounts and drafts payable 0 0
Other accrued liabilities and gift card liability 0 0
Tenant inducements paid to franchisees 0 0
Other long-term assets and liabilities 0 0
Net cash provided by operating activities 0 0
Cash flows from investing activities:    
Payments for property and equipment 0 0
Net proceeds from disposal of assets, restaurant closures, and refranchisings 0 0
Settlement/sale of derivatives, net 0 0
Other investing activities, net   0
Net cash (used for) provided by investing activities 0 0
Cash flows from financing activities:    
Proceeds from long-term debt   0
Repayments of long-term debt and finance leases 0 0
Distributions on Class A common and Partnership exchangeable units (243) (241)
Distribution to RBI for repurchase of RBI common shares   (161)
Capital contribution from RBI 0 0
Distributions from subsidiaries 243 402
(Payments) proceeds from derivatives 0  
(Payments) proceeds from derivatives   0
Other financing activities, net   0
Net cash (used for) provided by financing activities 0 0
Effect of exchange rates on cash and cash equivalents 0 0
Increase (decrease) in cash and cash equivalents 0 0
Cash and cash equivalents at beginning of period 0 0
Cash and cash equivalents at end of period $ 0 $ 0