QSR Stock Cash Flow Statements

Restaurant Brands International Quarterly Cash Flow Statements Chart

Quarterly

Annual

Operating Cash Flow

Investing Cash Flow

Financing Cash Flow

Free Cash Flow

Capital Expenditure

Restaurant Brands International Quarterly Cash Flow Statements Table

Quarterly

Annual

Unit: USD	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31

cash flows from operating activities:
net income	726,000,000	364,000,000	351,000,000	277,000,000	336,000,000	530,000,000	346,000,000	270,000,000	262,000,000	329,000,000	391,000,000	271,000,000	139,000,000	223,000,000	164,000,000	224,000,000	257,000,000	351,000,000	257,000,000	246,000,000	301,200,000	249,800,000	314,200,000	278,800,000	578,400,000	246,800,000	243,500,000	166,600,000	301,400,000	238,600,000	247,600,000	168,300,000	184,500,000	183,400,000	92,900,000	50,900,000
adjustments to reconcile net income to net cash from operating activities:
depreciation and amortization	49,000,000	47,000,000	49,000,000	46,000,000	47,000,000	46,000,000	48,000,000	49,000,000	51,000,000	50,000,000	51,000,000	49,000,000	50,000,000	48,000,000	46,000,000	45,000,000	46,000,000	47,000,000	45,000,000	47,000,000	42,500,000	44,900,000	45,600,000	47,000,000	46,200,000	46,200,000	45,300,000	43,400,000	43,100,000	43,300,000	43,600,000	42,100,000	44,200,000	35,700,000	51,200,000	50,900,000
premiums paid and non-cash loss on early extinguishment of debt									0																43,200,000
amortization of deferred financing costs and debt issuance discount	6,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000	6,000,000	7,000,000	7,000,000	7,000,000	6,000,000	6,000,000	7,000,000	7,000,000	8,000,000	7,000,000	7,100,000	7,400,000	7,300,000	7,200,000	7,500,000	8,500,000	8,200,000	8,500,000	9,800,000	9,800,000	9,600,000	9,700,000	9,900,000	9,700,000	8,300,000	7,000,000
(income) income from equity method investments	-27,000,000	1,000,000	11,000,000	7,000,000	14,000,000	8,000,000	9,000,000	13,000,000	-8,000,000	7,000,000	3,000,000	2,000,000	3,000,000	18,000,000	16,000,000	2,000,000	0			-2,000,000	-5,100,000	-3,800,000	1,200,000	-14,300,000	-3,500,000	-4,100,000	900,000	-5,700,000	-3,600,000	-2,600,000	4,500,000	-18,500,000	-1,600,000	3,200,000	5,300,000	-2,800,000
gain on remeasurement of foreign denominated transactions																				-15,000,000	-13,700,000	-3,100,000	-32,600,000	16,400,000	12,600,000	17,600,000	36,700,000	10,400,000	-36,200,000	-2,900,000	-9,000,000	28,000,000	5,900,000	3,600,000	9,400,000	18,100,000
net (gains) losses on derivatives	-40,000,000	-39,000,000	-38,000,000	-34,000,000	-26,000,000	-10,000,000	9,000,000	18,000,000	22,000,000	23,000,000	22,000,000	20,000,000	18,000,000	15,000,000	5,000,000	-6,000,000	-6,000,000	-9,000,000	-14,000,000	-20,000,000	-15,600,000	-9,600,000
share-based compensation and non-cash incentive compensation expense	53,000,000	49,000,000	47,000,000	45,000,000	43,000,000	34,000,000	32,000,000	27,000,000
deferred income taxes	-383,000,000	-7,000,000	-12,000,000	-28,000,000	-31,000,000			-16,000,000	-40,000,000	11,000,000	10,000,000	14,000,000	-88,000,000	11,000,000	-100,000,000	-31,000,000	74,000,000	-39,000,000	-15,000,000	38,000,000	22,900,000	64,200,000	-39,100,000	-19,000,000	-739,300,000	-25,500,000	7,100,000	15,300,000	45,500,000	24,100,000			82,500,000	-22,300,000	-54,500,000	-38,000,000
other	7,000,000	25,000,000	-7,000,000	1,000,000	11,000,000	6,000,000	-7,000,000	9,000,000	-2,000,000	-2,000,000	-4,000,000	-8,000,000	5,000,000	3,000,000	24,000,000	-4,000,000	5,000,000	4,000,000	-6,000,000	3,000,000	-6,100,000	6,800,000	600,000	3,700,000	5,200,000	3,000,000	6,200,000	3,600,000
changes in current assets and liabilities, excluding acquisitions and dispositions:
accounts and notes receivable	-61,000,000	-57,000,000	-21,000,000	-8,000,000	-17,000,000	-97,000,000	50,000,000	-46,000,000	-3,000,000	-6,000,000	-7,000,000	24,000,000	53,000,000	-47,000,000	-130,000,000	94,000,000	-46,000,000	9,000,000	-30,000,000	14,000,000	19,300,000	-36,500,000	20,800,000	15,400,000	-30,700,000	-27,100,000	-20,400,000	47,800,000
inventories and prepaids and other current assets	6,000,000	-4,000,000	-25,000,000	-20,000,000	6,000,000	-40,000,000	-5,000,000	-22,000,000	15,000,000	2,000,000	-1,000,000	-4,000,000	11,000,000	7,000,000	-15,000,000	-13,000,000	19,000,000	-24,000,000	3,000,000	-13,000,000	9,300,000	-700,000	-8,600,000	-7,000,000	15,400,000	-1,400,000	-2,700,000	-8,400,000
accounts and drafts payable	84,000,000	-31,000,000	50,000,000	-81,000,000	56,000,000	14,000,000	81,000,000	18,000,000	20,000,000	26,000,000	84,000,000	19,000,000	-73,000,000	48,000,000	-22,000,000	-136,000,000	127,000,000	25,000,000	29,000,000	-69,000,000	65,000,000	-12,600,000	61,400,000	-72,800,000	50,300,000	-20,900,000	-24,100,000	14,600,000	15,700,000	4,400,000	13,400,000	-6,000,000	52,400,000	99,500,000	14,900,000	24,400,000
other accrued liabilities and gift card liability	71,000,000	73,000,000	-12,000,000	-123,000,000	111,000,000	125,000,000	-108,000,000	-91,000,000	145,000,000	45,000,000	-10,000,000	-113,000,000	28,000,000	1,000,000	54,000,000	-67,000,000	34,000,000	81,000,000	-40,000,000	-126,000,000	64,600,000	63,800,000	27,300,000	-374,700,000	521,500,000	2,800,000	-81,600,000	-82,600,000
tenant inducements paid to franchisees	-17,000,000	-6,000,000	-3,000,000	-6,000,000	-13,000,000	-7,000,000	-4,000,000	-2,000,000	-15,000,000	-4,000,000			-15,000,000	-2,000,000	-2,000,000	-3,000,000	-41,000,000	-5,000,000
other long-term assets and liabilities	-102,000,000			4,000,000	-199,000,000	-159,000,000	-8,000,000	21,000,000	-5,000,000	12,000,000	-91,000,000	6,000,000	13,000,000	20,000,000	-24,000,000	14,000,000	41,000,000	14,000,000	61,000,000	22,000,000	43,800,000	2,400,000	3,700,000	-6,900,000	60,300,000	-7,200,000	-7,600,000	-5,300,000	-19,800,000	3,900,000	11,600,000	-1,400,000	5,700,000	-9,000,000	-1,000,000	-24,500,000
net cash from operating activities	403,000,000	433,000,000	392,000,000	95,000,000	423,000,000	398,000,000	435,000,000	234,000,000	471,000,000	510,000,000	479,000,000	266,000,000	313,000,000	412,000,000	60,000,000	136,000,000	565,000,000	436,000,000	321,000,000	154,000,000	491,900,000	385,700,000	398,400,000	-111,000,000	568,500,000	332,500,000	205,400,000	275,600,000	350,000,000	413,700,000	322,000,000	183,300,000	254,400,000	442,200,000	246,500,000	261,700,000
capex	-47,000,000	-25,000,000	-30,000,000	-18,000,000	-48,000,000	-24,000,000	-18,000,000	-10,000,000	-36,000,000	-24,000,000	-31,000,000	-15,000,000	-46,000,000	-32,000,000	-20,000,000	-19,000,000	-30,000,000	-18,000,000	-9,000,000	-5,000,000	-32,700,000	-31,700,000	-14,600,000	-7,000,000	-19,800,000	-5,200,000	-7,600,000	-4,100,000	-15,500,000	-5,400,000	-7,200,000	-5,600,000	-32,400,000	-25,900,000	-27,600,000	-29,400,000
free cash flows	356,000,000	408,000,000	362,000,000	77,000,000	375,000,000	374,000,000	417,000,000	224,000,000	435,000,000	486,000,000	448,000,000	251,000,000	267,000,000	380,000,000	40,000,000	117,000,000	535,000,000	418,000,000	312,000,000	149,000,000	459,200,000	354,000,000	383,800,000	-118,000,000	548,700,000	327,300,000	197,800,000	271,500,000	334,500,000	408,300,000	314,800,000	177,700,000	222,000,000	416,300,000	218,900,000	232,300,000
cash flows from investing activities:
payments for property and equipment	-47,000,000	-25,000,000	-30,000,000	-18,000,000	-48,000,000	-24,000,000	-18,000,000	-10,000,000	-36,000,000	-24,000,000	-31,000,000	-15,000,000	-46,000,000	-32,000,000	-20,000,000	-19,000,000	-30,000,000	-18,000,000	-9,000,000	-5,000,000	-32,700,000	-31,700,000	-14,600,000	-7,000,000	-19,800,000	-5,200,000	-7,600,000	-4,100,000	-15,500,000	-5,400,000	-7,200,000	-5,600,000	-32,400,000	-25,900,000	-27,600,000	-29,400,000
net proceeds from disposal of assets, restaurant closures and refranchisings
net payment for purchase of firehouse subs, net of cash acquired
settlement/sale of derivatives	72,000,000	12,000,000	14,000,000	14,000,000	49,000,000	13,000,000	6,000,000	3,000,000	3,000,000	1,000,000	-1,000,000	2,000,000	4,000,000	7,000,000	10,000,000	12,000,000	7,000,000	2,000,000	4,000,000	11,000,000	5,800,000	0	8,200,000	3,000,000	500,000	-200,000	766,800,000	5,200,000
other investing activities	-17,000,000	0			0	-10,000,000	-29,000,000	4,000,000	1,000,000	-10,000,000	0	-5,000,000								1,000,000	700,000	100,000	100,000	100,000	2,800,000	-2,600,000	1,100,000	-800,000	1,000,000	200,000	-400,000	2,200,000	1,600,000	-200,000	800,000	1,500,000
net cash from investing activities	22,000,000	-3,000,000			2,000,000	-20,000,000	-47,000,000	1,000,000	-1,034,000,000	-33,000,000	-29,000,000	-7,000,000	-46,000,000	-21,000,000	-9,000,000	-3,000,000	-37,000,000	-16,000,000	12,000,000	11,000,000	-16,300,000	-29,200,000	-400,000	1,900,000	-5,900,000	6,000,000	766,800,000	-1,624,700,000	7,600,000	7,500,000	5,000,000	6,800,000	-21,500,000	-15,500,000	-57,200,000	32,700,000
cash flows from financing activities:
proceeds from long-term debt	0	53,000,000				0	1,000,000	1,000,000
repayments of long-term debt and finance leases	-13,000,000	-11,000,000	-36,000,000	-32,000,000		-24,000,000	-26,000,000	-21,000,000								-25,000,000	-1,976,000,000	-242,000,000	-25,000,000	-23,000,000
payment of financing costs	-1,000,000								-12,000,000				-33,000,000	0			-37,000,000								-5,900,000	-10,000,000	-15,200,000	-31,800,000					0	0
payment of dividends on common shares and distributions on partnership exchangeable units	-249,000,000	-249,000,000	-249,000,000	-243,000,000	-243,000,000	-243,000,000	-244,000,000	-241,000,000	-244,000,000	-246,000,000	-245,000,000	-239,000,000	-243,000,000	0	-484,000,000	-232,000,000		-232,000,000	-230,000,000	-207,000,000
repurchase of common shares	-385,000,000				0	0	-165,000,000	-161,000,000	-369,000,000
proceeds from stock option exercises	8,000,000	3,000,000	43,000,000	6,000,000	14,000,000	3,000,000	1,000,000	3,000,000	0	4,000,000	36,000,000	20,000,000	22,000,000	19,000,000	11,000,000	30,000,000	3,000,000	19,000,000	38,000,000	42,000,000	8,100,000	23,900,000	3,800,000	25,200,000	11,200,000	5,200,000	4,300,000	8,000,000		1,800,000	4,200,000	6,500,000		0	1,200,000	400,000
proceeds from issuance of common shares
proceeds (payments) from derivatives
other financing activities	-1,000,000	-1,000,000			0	-1,000,000	-1,000,000	-1,000,000	-1,000,000	-1,000,000	-3,000,000	1,000,000	-1,000,000	1,000,000	-1,000,000	-1,000,000			4,000,000	6,000,000	3,700,000	3,100,000	-1,200,000	-600,000	-3,900,000	-3,900,000	-1,200,000	-1,100,000	-6,200,000	-300,000	-2,000,000	3,100,000	-1,700,000	-3,200,000	-2,100,000	1,400,000
net cash from financing activities	-600,000,000	-326,000,000	-208,000,000	-240,000,000	-196,000,000	-251,000,000	-434,000,000	-426,000,000	-123,000,000	-454,000,000	-255,000,000	-261,000,000	-639,000,000	-21,000,000	-1,016,000,000	855,000,000	-736,000,000	289,000,000	-213,000,000	-182,000,000	-696,100,000	-205,700,000	-255,600,000	-127,600,000	-3,097,600,000	-176,300,000	1,529,400,000	809,300,000	-154,600,000	-153,300,000	-147,100,000	-135,900,000	-434,300,000	-135,700,000	-528,500,000	-1,016,700,000
effect of exchange rates on cash and cash equivalents	4,000,000	-7,000,000			3,000,000	-19,000,000	-11,000,000	-1,000,000	0	-12,000,000	4,000,000	5,000,000	13,000,000	9,000,000	7,000,000	-23,000,000	9,000,000	-5,000,000	6,000,000	6,000,000	-9,600,000	5,200,000	-7,300,000	-8,300,000	1,300,000	9,400,000	10,000,000	3,300,000	-17,000,000	8,400,000	-7,700,000	13,900,000	-16,300,000	-4,400,000	6,200,000	-59,000,000
increase in cash and cash equivalents	-171,000,000	97,000,000	180,000,000	-145,000,000	232,000,000	108,000,000	-57,000,000	-192,000,000	-686,000,000	11,000,000	199,000,000	3,000,000	-359,000,000	379,000,000	-958,000,000	965,000,000	-199,000,000	704,000,000	126,000,000	-11,000,000	-230,100,000	156,000,000	135,100,000	-245,000,000	-2,533,700,000	171,600,000	2,511,600,000	-536,500,000	186,000,000	276,300,000	172,200,000	68,100,000	-217,700,000	286,600,000	-333,000,000	-781,300,000
cash and cash equivalents at beginning of period	0	0	0	1,178,000,000	0	0	0	1,087,000,000	0	0	0	1,560,000,000	0	0	0	1,533,000,000	0	0	0	913,000,000	-400,000	0	0	1,097,400,000	0	0	0	1,460,400,000	0	0	0	757,800,000	0	0	0	1,803,200,000
cash and cash equivalents at end of period	-171,000,000	97,000,000	180,000,000	1,033,000,000	232,000,000	108,000,000	-57,000,000	895,000,000	-686,000,000	11,000,000	199,000,000	1,563,000,000	-359,000,000	379,000,000	-958,000,000	2,498,000,000	-199,000,000	704,000,000	126,000,000	902,000,000	-230,500,000	156,000,000	135,100,000	852,400,000	-2,533,700,000	171,600,000	2,511,600,000	923,900,000	186,000,000	276,300,000	172,200,000	825,900,000	-217,700,000	286,600,000	-333,000,000	1,021,900,000
supplemental cash flow disclosures:
interest paid	217,000,000	164,000,000	217,000,000	163,000,000	169,000,000	109,000,000	134,000,000	75,000,000	123,000,000	83,000,000	126,000,000	72,000,000	148,000,000	81,000,000	130,000,000	104,000,000	151,000,000	141,000,000	152,000,000	140,000,000	150,500,000	136,900,000	144,700,000	128,900,000	107,000,000	134,600,000	125,500,000	80,100,000	121,200,000	86,200,000	117,300,000	82,400,000	122,500,000	61,000,000	136,300,000	88,500,000
income taxes paid	106,000,000	38,000,000	85,000,000	61,000,000	98,000,000	57,000,000	78,000,000	42,000,000	67,000,000	47,000,000	46,000,000	96,000,000	104,000,000	103,000,000	12,000,000	48,000,000	77,000,000	44,000,000	82,000,000	45,000,000	59,200,000	-200,000	70,000,000	304,000,000	10,900,000	72,400,000	92,800,000	24,100,000	66,000,000	16,700,000	29,000,000	47,600,000	116,500,000	12,200,000	36,700,000	42,900,000
non-cash loss on early extinguishment of debt
(gain) loss on remeasurement of foreign denominated transactions		-18,000,000	-1,000,000	8,000,000		-30,000,000	-31,000,000	-21,000,000		-23,000,000	8,000,000	-43,000,000		44,000,000	18,000,000	-8,000,000		-35,000,000
net proceeds from disposal of assets, restaurant closures, and refranchisings		10,000,000	9,000,000	4,000,000		1,000,000	6,000,000	4,000,000		0	3,000,000	11,000,000		4,000,000	1,000,000	4,000,000		0	18,000,000	4,000,000
net payments in connection with purchase of firehouse subs						0
(payments) proceeds from derivatives		37,000,000	34,000,000	29,000,000	26,000,000	14,000,000	0	-6,000,000	-6,000,000	-13,000,000	-16,000,000	-16,000,000	-17,000,000	-15,000,000	-12,000,000	-2,000,000
proceeds from revolving line of credit and long-term debt									533,000,000					0	500,000,000	1,085,000,000
repayments of revolving line of credit, long-term debt and finance leases									-24,000,000	-811,000,000	-27,000,000	-27,000,000		-26,000,000
repurchase of partnership exchangeable units
share-based compensation expense										22,000,000	18,000,000	22,000,000	19,000,000	16,000,000	20,000,000	19,000,000	12,000,000	17,000,000	17,000,000	22,000,000	8,700,000	12,700,000	13,300,000	13,300,000	10,300,000	10,800,000	10,700,000	16,500,000	9,200,000	9,800,000	9,700,000	6,400,000	13,900,000	14,400,000	7,000,000	15,500,000
proceeds from issuance of long-term debt																	1,500,000,000								1,500,000,000	1,300,000,000	1,750,000,000	1,300,000,000
net payment for purchase of popeyes, net of cash acquired																									0	0	0	-1,635,900,000
payments in connection with redemption of preferred shares																					100,000	0	-26,500,000	-33,600,000
payment of dividends on common and preferred shares and distributions on partnership exchangeable units																					-210,900,000	-210,100,000	-210,100,000	-96,900,000	-211,600,000	-155,300,000	-150,700,000	-145,900,000
proceeds from derivatives																	6,000,000
proceeds from disposal of assets, restaurant closures and refranchisings
return of investment on direct financing leases																					3,700,000	4,000,000	4,100,000	4,200,000	4,100,000	4,000,000	3,700,000	4,100,000	4,100,000	4,400,000	4,000,000	4,100,000	4,200,000	4,100,000	4,000,000	4,000,000
repayments of long-term debt and capital leases																					-8,100,000	-22,600,000	-21,600,000	-21,700,000	-1,051,500,000	-1,312,300,000	-57,800,000	-319,900,000
excess tax benefits from share-based compensation
supplemental cashflow disclosures:
proceeds from disposal of assets, restaurant closures, and refranchisings																							1,800,000	1,600,000		10,000,000	2,800,000	6,800,000
net incomees on derivatives																								1,900,000	7,900,000	8,200,000	9,100,000	5,800,000
restricted cash and cash equivalents
advertising fund restricted assets and fund liabilities																									-16,800,000	16,800,000	-25,900,000	27,200,000
redemption of preferred shares
non-cash investing and financing activities:
acquisition of property with capital lease obligations																									13,100,000	5,300,000	4,000,000	13,700,000	9,600,000	14,200,000	2,900,000	5,400,000	6,300,000	2,500,000	3,400,000	4,500,000
non-cash loss on extinguishment of debt																												17,900,000
loss on early extinguishment of debt
proceeds (payments) from disposal of assets, restaurant closures and refranchisings
net payment for purchase of tim hortons, net of cash acquired
proceeds from issuance of preferred shares
proceeds from stock option/warrant exercises
(gain) loss on early extinguishment of debt																																		400,000	39,900,000	-300,000
amortization of defined benefit pension and postretirement items																														-700,000	-600,000	-600,000
net incomees (gains) on derivatives																														5,900,000	5,900,000	3,500,000	3,500,000	3,500,000	31,600,000	15,000,000
net incomees (gains) on refranchisings and dispositions of assets																														1,000,000	-400,000	9,400,000	11,200,000	-5,200,000	-1,800,000	1,200,000
bad debt expense (recoveries)																														600,000	-400,000	-300,000	3,200,000	200,000	-1,500,000	2,200,000
acquisition accounting impact on cost of sales																																	0	-300,000
reclassification of restricted cash to cash and cash equivalents																																		0	0	79,200,000
trade and notes receivable																														-1,400,000	-12,400,000	33,800,000	-61,900,000	-24,500,000	4,300,000	55,600,000
inventories and other current assets																														66,400,000	9,600,000	-79,000,000	14,300,000	-10,100,000	8,000,000	-3,000,000
accrued advertising																														19,800,000	-100,000	-15,700,000	3,100,000	23,600,000	6,400,000	-200,000
other accrued liabilities																														-6,300,000	-21,100,000	3,600,000	-116,000,000	136,300,000	30,100,000	5,800,000
proceeds from refranchisings, disposition of assets and restaurant closures																														4,900,000	6,000,000	7,200,000
settlement of derivatives																														3,400,000	2,600,000	-1,100,000		300,000	-40,600,000	52,100,000
proceeds from senior notes																																	0	0
repayments of term debt, tim hortons notes and capital leases																														-18,100,000	-17,400,000	-17,200,000		-18,200,000	-1,571,800,000	-1,020,600,000
dividends paid on common shares and preferred shares																														-136,700,000	-131,900,000	-128,300,000	-123,600,000	-114,300,000
proceeds from issuance of shares																																	0	0	0	2,100,000
proceeds (payments) from refranchisings, disposition of assets and restaurant closures																																	2,700,000	6,200,000	6,200,000	4,500,000
net payments for acquired and disposed franchisee operations, net of cash acquired
proceeds from term debt
repayments of term debt, senior notes, discount notes and capital leases
repurchases of common stock
investments in unconsolidated affiliates
amortization of cost of sales step-up																																				4,700,000
dividends paid on common stock
amortization of inventory step-up
(payments) proceeds from refranchisings, disposition of assets and restaurant closures
net investment in direct financing leases

We provide you with 20 years of cash flow statements for Restaurant Brands International stock, allowing you to gain comprehensive visibility into the fundamentals of the company. Our detailed breakdowns include key financial metrics such as operating cash flows, cash levels, capital expenditures, profits, stock-based compensations and profit margins. This in-depth information is essential for making informed investment decisions and understanding the financial health and performance of Restaurant Brands International stock. Explore the full financial landscape of Restaurant Brands International stock with our expertly curated income statements.

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