For the Burger King financial statements, what years are covered in the consolidated statements of operations?
Burger_King Franchise · 2025 FDDAnswer from 2025 FDD Document
e Washington Attorney General if any of its franchisees attempted to enforce such a provision, offer to amend existing Franchise Agreements to delete the no-poach language and remove the language from existing Franchise Agreements as they come up for renewal. Our predecessor satisfied the requirements in the Assurance of Discontinuance and submitted to the State of Washington a declaration of completion.
Each provision of this Addendum is effective only to the extent that with respect to such provision, the jurisdictional requirements of the Washington Franchise Investment Protection Act are met independently without reference to this Addendum.
Item 8. Financial Statements and Supplementary Data
RESTAURANT BRANDS INTERNATIONAL INC. AND SUBSIDIARIES INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
| Management's Report on Internal Control Over Financial Reporting | 56 |
|---|---|
| Reports of Independent Registered Public Accounting Firm | 57 |
| Consolidated Balance Sheets | 60 |
| Consolidated Statements of Operations | 61 |
| Consolidated Statements of Comprehensive Income (Loss) | 62 |
| Consolidated Statements of Shareholders' Equity | 63 |
| Consolidated Statements of Cash Flows | 64 |
| Notes to Consolidated Financial Statements | 65 |
Management is responsible for the preparation, integrity and fair presentation of the consolidated financial statements, related notes and other information included in this annual report. The consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America and include certain amounts based on management's estimates and assumptions. Other financial information presented in the annual report is derived from the consolidated financial statements.
Management is also responsible for establishing and maintaining adequate internal control over financial reporting, and for performing an assessment of the effectiveness of internal control over financial reporting as of December 31, 2024. Internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. Our system of internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the asset
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 124–125)
What This Means (2025 FDD)
According to Burger King's 2025 Franchise Disclosure Document, management is responsible for the preparation, integrity, and fair presentation of the consolidated financial statements. These statements are prepared following accounting principles generally accepted in the United States of America. As part of this responsibility, management also assesses the effectiveness of internal control over financial reporting, with the latest assessment performed as of December 31, 2024.
The scope of management's assessment of the effectiveness of RBI's internal control over financial reporting included all of RBI's consolidated operations except for the operations of Carrols Restaurant Group Inc., which RBI acquired in May 2024. Carrols Restaurant Group Inc. operations represented $1,988 million of RBI's consolidated total assets and $1,171 million of RBI's consolidated total revenues as of and for the year ended December 31, 2024.
While the document mentions the assessment of internal controls as of December 31, 2024, it does not explicitly state the specific years covered in the consolidated statements of operations. A prospective franchisee should request these statements to fully understand Burger King's financial performance over the past several years.