What was the net value of Burger King's property and equipment as of December 31, 2024?
Burger_King Franchise · 2025 FDDAnswer from 2025 FDD Document
and vesting of RSUs will not affect the number of Class A common units or Partnership exchangeable units outstanding. However, the issuance of RBI shares by RBI in future periods will affect the allocation of net income attributable to common unitholders between Partnership's Class A common units and Partnership exchangeable units.
The following table summarizes the basic and diluted earnings per unit calculations (in millions, except per unit amounts):
| | 2024 | 2023 | | | 2022 | |--------------------------------------------
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 value of their property and equipment as of December 31, 2024, was $2,236 million. The FDD also provides a breakdown of the components contributing to this total. These include land valued at $952 million, buildings and improvements at $1,334 million, restaurant equipment at $310 million, furniture, fixtures, and other items at $280 million, and finance leases at $331 million. Additionally, there's $116 million accounted for as construction in progress.
It's important to note that the total value of these assets is reduced by accumulated depreciation and amortization, which amounted to $1,087 million. This accounting practice reflects the decrease in value of assets over time due to wear and tear or obsolescence. The corresponding value for the previous year, December 31, 2023, was $1,952 million, indicating an increase in the net value of property and equipment year over year.
For a prospective franchisee, this information provides insight into the scale of assets Burger King owns and manages. While franchisees will be responsible for equipping their own restaurants, understanding the corporate asset base can offer a sense of the company's financial health and investment in its operations. Reviewing these figures over several years, if available, can also reveal trends in Burger King's capital expenditures and asset management strategies.