What was the net income attributable to common unitholders for Burger King, considering the equity in earnings of consolidated subsidiaries and noncontrolling interests?
Burger_King Franchise · 2025 FDDAnswer from 2025 FDD Document
— | $ — | $ 2,708 | | Company restaurant sales | 1,592 | — | — | 1,592 | | Franchise and property revenues | 2,919 | — | — | 2,919 | | Advertising revenues and other services | 1,187 | — | — | 1,187 | | Total revenues | 8,406 | — | — | 8,406 | | Operating costs and expenses: | | | | | | Supply chain cost of sales | 2,180 | — | — | 2,180 | | Company restaurant expenses | 1,328 | — | — | 1,328 | | Franchise and property expenses | 544 | — | — | 544 | | Advertising expenses and other services | 1,330 | — | — | 1,330 | | General and administrative expenses | 733 | — | — | 733 | | (Income) loss from equity method investments | (69) | — | — | (69) | | Other operating expenses (income), net | (59) | — | — | (59) | | Total operating costs and expenses | 5,987 | — | — | 5,987 | | Income from operations | 2,419 | — | — | 2,419 | | Interest expense, net | 577 | — | — | 577 | | Loss on early extinguishment of debt | 33 | — | — | 33 | | Income before income taxes | 1,809 | — | — | 1,809 | | Income tax expense | 364 | — | — | 364 | | Net income | 1,445 | — | — | 1,445 | | Equity in earnings of consolidated subsidiaries | — | 1,445 | (1,445) | — | | Net income (loss) | 1,445 | 1,445 | (1,445) | 1,445 | | Net income (loss) attributable to noncontrolling interests | 3 | 3 | (3) | 3 | | Net income (loss) attributable to common unitholders | $ 1,442 | $ 1,442 | $ (1,442) $ | 1,442 | | Total comprehensive income (loss) | $ 905 | $ 905 | $ (905) $ | 905 |
Condensed Consolidating Statements of Operations (In millions of U.S. dollars)
| Consolidated Borrowers | RBILP | Eliminations | Consolidated |
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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 net income attributable to common unitholders in 2024 was $1,715. This figure takes into account the equity in earnings of consolidated subsidiaries, as well as net income (loss) attributable to noncontrolling interests.
This metric is an important indicator of the overall profitability of Burger King, specifically the portion of profit available to its common unitholders after all expenses, taxes, and minority interests are accounted for. For a prospective franchisee, this demonstrates the financial health and stability of the Burger King brand. A higher net income attributable to common unitholders generally suggests a stronger and more reliable franchise system.
It's important to note that this figure represents the consolidated results, which include various segments and operations of Burger King. While this provides an overview of the brand's financial performance, prospective franchisees should also investigate the performance of individual franchise locations and market conditions in their specific area of interest. Reviewing trends in net income over several years, as presented in the table, can also provide a more comprehensive understanding of the brand's financial trajectory.