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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 410.1 $ 415.9
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 88.7 85.7
Non-cash loss on early extinguishment of debt 17.9 0.0
Amortization of deferred financing costs and debt issuance discount 16.7 19.3
(Income) loss from equity method investments (4.8) (14.0)
Loss (gain) on remeasurement of foreign denominated transactions 47.1 19.0
Net losses on derivatives 14.9 9.4
Share-based compensation expense 27.2 16.1
Deferred income taxes 22.4 10.5
Other 9.8 7.1
Changes in current assets and liabilities, excluding acquisitions and dispositions:    
Accounts and notes receivable 27.4 21.4
Inventories and prepaids and other current assets (11.1) (69.4)
Accounts and drafts payable (9.5) 7.4
Advertising fund restricted assets and fund liabilities 1.3 (15.8)
Other accrued liabilities and gift card liability (164.2) (17.5)
Other long-term assets and liabilities (12.9) 10.2
Net cash provided by operating activities 481.0 505.3
Cash flows from investing activities:    
Payments for property and equipment (11.7) (12.8)
Proceeds from disposal of assets, restaurant closures, and refranchisings 9.6 13.2
Net payment for purchase of Popeyes, net of cash acquired (1,635.9) 0.0
Return of investment on direct financing leases 7.8 8.1
Settlement/sale of derivatives, net 772.0 1.5
Other investing activities, net 0.3 1.8
Net cash provided by (used for) investing activities (857.9) 11.8
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 3,050.0 0.0
Repayments of long-term debt and capital leases (377.7) (34.6)
Payment of financing costs (47.0) 0.0
Payment of dividends on common and preferred shares and distributions on Partnership exchangeable units (296.6) (260.2)
Proceeds from stock option exercises 12.3 10.7
Other financing activities, net (2.3) 1.1
Net cash provided by (used for) financing activities 2,338.7 (283.0)
Effect of exchange rates on cash and cash equivalents 13.3 6.2
Increase (decrease) in cash and cash equivalents 1,975.1 240.3
Cash and cash equivalents at beginning of period 1,460.4 757.8
Cash and cash equivalents at end of period 3,435.5 998.1
Supplemental cashflow disclosures:    
Interest paid 205.6 199.7
Income taxes paid 116.9 76.6
Non-cash investing and financing activities:    
Acquisition of property with capital lease obligations $ 17.7 $ 8.3