What was the earnings per unit for Partnership exchangeable units for Burger King in 2023?
Burger_King Franchise · 2025 FDDAnswer from 2025 FDD Document
ends payable by RBI to holders of RBI common shares, and the holders of Class B exchangeable limited partnership units (the "Partnership exchangeable units") are entitled to receive distributions from Partnership in an amount per unit equal to the dividends payable by RBI on each RBI common share. Partnership's net income available to common unitholders is allocated between the Class A common units and Partnership exchangeable units on a fully-distributed basis and reflects residual net income after noncontrolling interests. Basic and diluted earnings per Class A common unit is determined by dividing net income allocated to Class A common unitholders by the weighted average number of Class A common units outstanding for the period. Basic and diluted earnings per Partnership exchangeable unit is determined by dividing net income alloc
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 109–124)
What This Means (2025 FDD)
According to Burger King's 2025 Franchise Disclosure Document, the earnings per unit for Partnership exchangeable units in 2023 was $3.78. This figure represents the basic and diluted earnings per unit for these specific units.
For a prospective franchisee, understanding the earnings per unit can provide insight into the profitability and financial performance of the Burger King partnership structure. It's important to note that these earnings are specific to the Partnership exchangeable units and may not directly reflect the earnings of a typical Burger King franchise.
It is also important to consider the weighted average Partnership exchangeable units, which were 139 in 2023. This number is used in calculating the earnings per unit. Reviewing these figures over the three years presented (2022-2024) can help identify trends and assess the stability of these earnings. Franchisees should consult with a financial advisor to fully understand the implications of these figures in relation to their investment.