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| Company | Burger King Worldwide, Inc. |
| Headquarters | 5505 Blue Lagoon Drive, Miami , Florida 33126, USA |
| CEO | Daniel S. Schwartz |
| CFO | Joshua Kobza |
| Industry | Restaurants, Fast food |
| Founder | James McLamore and David Edgerton |
| Founded | 1954 |
| Type | Public |
| NYSE stock symbol | BKW |
| Revenue | $1.146 billion (2013) |
| Net income | $233.7 million (2013) |
| Earnings per share | $0.65 USD (2013) |
| Employees | 4,600 (2013) |
| Website | http://www.bk.com |
Burger King was founded in 1954 by James McLamore and David Edgerton.
The first Burger King restaurant opened in Miami, Florida and The Whopper® burger was introduced in 1957 – the chain became an instant success.
In 1967 the Burger King Corporation was acquired byThe Pillsbury Company – becoming a wholly owned subsidiary.
In 2002 Burger King was sold to Texas Pacific Group, Bain Capital and Goldman Sachs Capital Partners.
Burger King Holdings went public on the New York Stock Exchange (NYSE) in 2006. Four years later (in 2010) the company was acquired by 3G Capital.
Burger Kind Worldwide publicly listed shares on the NYSE again in 2012 following a definitive business combination agreement between Burger King Worldwide Inc. and Justice Holdings Limited Shares – with 3G Capital retaining a 70% ownership.
Burger King Worldwide Inc., focuses on franchising and operating fast food hamburger restaurants, mainly under the Burger King® brand.
As of December 31, 2013, there are over 13,667 Burger King restaurants in over 95 countries and U.S. territories. Forty-six percent of these restaurants are located outside the U.S. and Canada and nearly all the restaurants are operated and owned by Franchisees (13,615).
In 2014 Burger King announced that a merger with the Canadian coffee and doughnut chain, Tim Hortons, had been agreed. The new company will be the third-largest quick-food chain globally. Tim Hortons’ stockholders will receive 65.50 Canadian dollars for each share in cash plus 0.8025 shares in the new entity for every share they own. The new company will be 51% owned by 3G Capital. It will be based in Canada.
| Income statement data (in $ millions) | 2013* | 2012* |
| Company restaurant revenues | $222.7 | $1,169 |
| Franchise and property revenues | $923.6 | $801.9 |
| Total revenues | $1,146.3 | $1,97.9 |
| Total Company restaurant expenses | $195.3 | $1,037.2 |
| Total operating costs and expenses | $624.1 | $1,553.2 |
| Income from operations | $522.2 | $417.7 |
| Interest expense, net | $200 | $223.8 |
| Income before income taxes | $322.2 | $159.7 |
| Net income | $233.7 | $117.7 |
| Total comprehensive (loss) income | $398.6 | $120.7 |
| Balance sheet data (in $ millions) | ||
| Total assets | $5,828.5 | $5,564.0 |
| Total liabilities | $4,312.3 | $4,389.0 |
| Total equity | $1,516.2 | $1,175.0 |
| Common share data (in $) | ||
| Earnings per Common Share – Basic | $0.67 | $0.34 |
| Earnings per Common Share – Diluted | $0.65 | $0.33 |
| Cash flow data (in $ millions) | ||
| Net cash provided by operating activities | $325.2 | $224.4 |
| Net cash provided by (used in) investing activities | $43.0 | $33.6 |
| Net cash used in financing activities | $(132.7) | $(174.6) |
| Cash and cash equivalents at beginning of period | $546.7 | $459.0 |
| Cash and cash equivalents at end of period | $786.9 | $546.7 |
*Years Ended December 31
Source: “Burger King Worldwide Inc. Form 10-K 2013”
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