Restaurant Brands Intl Q3 2024 10-Q Filing
Ticker: RSTRF · Form: 10-Q · Filed: Nov 5, 2024 · CIK: 1618755
| Field | Detail |
|---|---|
| Company | Restaurant Brands International Limited Partnership (RSTRF) |
| Form Type | 10-Q |
| Filed Date | Nov 5, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 20 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, restaurant-industry
TL;DR
**RBI Q3 2024 10-Q FILED. Check financials.**
AI Summary
Restaurant Brands International Limited Partnership filed its 10-Q for the period ending September 30, 2024. The filing covers their financial performance and operations for the third quarter of 2024. Key financial data and operational details are presented in this report.
Why It Matters
This filing provides investors and analysts with the latest financial results and operational updates for Restaurant Brands International, crucial for understanding the company's performance and future outlook.
Risk Assessment
Risk Level: medium — As a publicly traded company, Restaurant Brands International is subject to market fluctuations, competition, and regulatory changes inherent in the fast-food industry.
Key Numbers
- 20240930 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
- 20241105 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- Restaurant Brands International Limited Partnership (company) — Filer of the 10-Q
- 20240930 (date) — End of the reporting period
- 20241105 (date) — Filing date
- Toronto (location) — Company headquarters city
FAQ
What is the primary purpose of this 10-Q filing?
This 10-Q filing provides a comprehensive overview of Restaurant Brands International Limited Partnership's financial performance and operational status for the fiscal quarter ending September 30, 2024.
When was this 10-Q report filed with the SEC?
The 10-Q report was filed on November 5, 2024.
What is the fiscal year end for Restaurant Brands International Limited Partnership?
The company's fiscal year ends on December 31.
What is the SIC code for Restaurant Brands International Limited Partnership?
The Standard Industrial Classification (SIC) code for the company is 5812, which corresponds to RETAIL-EATING PLACES.
What was the previous name of Restaurant Brands International Limited Partnership?
The company was formerly known as New Red Canada Limited Partnership until October 31, 2014, and prior to that, New Red Canada Partnership until September 5, 2014.
Filing Stats: 4,889 words · 20 min read · ~16 pages · Grade level 19 · Accepted 2024-11-05 16:03:55
Filing Documents
- qsr-20240930.htm (10-Q) — 2929KB
- qsp_2024930xex311.htm (EX-31.1) — 10KB
- qsp_2024930xex312.htm (EX-31.2) — 10KB
- qsp_2024930xex321.htm (EX-32.1) — 5KB
- qsp_2024930xex322.htm (EX-32.2) — 5KB
- 0001618755-24-000074.txt ( ) — 14535KB
- qsr-20240930.xsd (EX-101.SCH) — 61KB
- qsr-20240930_cal.xml (EX-101.CAL) — 101KB
- qsr-20240930_def.xml (EX-101.DEF) — 477KB
- qsr-20240930_lab.xml (EX-101.LAB) — 750KB
- qsr-20240930_pre.xml (EX-101.PRE) — 674KB
- qsr-20240930_htm.xml (XML) — 3147KB
– Financial Information
PART I – Financial Information
Financial Statements
Item 1. Financial Statements 4
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 39
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 59
Controls and Procedures
Item 4. Controls and Procedures 59
– Other Information
PART II – Other Information
Legal Proceedings
Item 1. Legal Proceedings 60
Other Information
Item 5. Other Information 60
Exhibits
Item 6. Exhibits 61
Signatures
Signatures 62 3 Table of Contents
— Financial Information
PART I — Financial Information
Financial Statements
Item 1. Financial Statements RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidated Balance Sheets (In millions of U.S. dollars, except unit data) (Unaudited) As of September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 1,176 $ 1,139 Accounts and notes receivable, net of allowance of $ 39 and $ 37 , respectively 693 749 Inventories, net 169 166 Prepaids and other current assets 217 119 Total current assets 2,255 2,173 Property and equipment, net of accumulated depreciation and amortization of $ 1,283 and $ 1,187 , respectively 2,229 1,952 Operating lease assets, net 1,870 1,122 Intangible assets, net 11,347 11,107 Goodwill 6,187 5,775 Other assets, net 1,183 1,262 Total assets $ 25,071 $ 23,391 LIABILITIES AND EQUITY Current liabilities: Accounts and drafts payable $ 754 $ 790 Other accrued liabilities 1,158 1,005 Gift card liability 170 248 Current portion of long-term debt and finance leases 126 101 Total current liabilities 2,208 2,144 Long-term debt, net of current portion 13,571 12,854 Finance leases, net of current portion 305 312 Operating lease liabilities, net of current portion 1,775 1,059 Other liabilities, net 931 996 Deferred income taxes, net 1,242 1,296 Total liabilities 20,032 18,661 Partners' capital: Class A common units; 208,555,254 issued and outstanding at September 30, 2024; 202,006,067 issued and outstanding at December 31, 2023 10,483 9,620 Partnership exchangeable units; 127,048,577 issued and outstanding at September 30, 2024; 133,597,764 issued and outstanding at December 31, 2023 ( 4,268 ) ( 3,907 ) Accumulated other comprehensive income (loss) ( 1,178 ) ( 985 ) Total Partners' capital 5,037 4,728 Noncontrolling interests 2 2 Total equity 5,039 4,730 Total liabilities and equity $ 25,071 $ 23,391 See accompanying notes to condensed consolidated financial statements. 4 Table of Contents RESTAURANT BRANDS INTERNATIONAL