For the year ending 2025-12-31, QSR had -$105M decrease in cash & cash equivalents over the period. $1,449M in free cash flow.
| Cash Flow | 2025-12-31 |
|---|---|
| Net income from continuing operations | 1,201 |
| Depreciation and amortization | 301 |
| Non-cash loss on early extinguishment of debt | -2 |
| Amortization of deferred financing costs and debt issuance discount | 25 |
| (income) loss from equity method investments | 11 |
| Loss (gain) on remeasurement of foreign denominated transactions | -209 |
| Net (gains) losses on derivatives | 198 |
| Share-based compensation and non-cash incentive compensation expense | 151 |
| Deferred income taxes | 97 |
| Other non-cash adjustments, net | -49 |
| Accounts and notes receivable | 89 |
| Inventories and prepaids and other current assets | 67 |
| Accounts and drafts payable | 89 |
| Other accrued liabilities and gift card liability | -7 |
| Tenant inducements paid to franchisees | 44 |
| Changes in other long-term assets and liabilities | -6 |
| Net cash provided by operating activities from continuing operations | 1,714 |
| Payments for additions of property and equipment | 265 |
| Net proceeds from disposal of assets, restaurant closures, and refranchisings | 38 |
| Net payments for acquisition of franchised restaurants, net of cash acquired | 152 |
| Settlement/sale of derivatives, net | 76 |
| Other investing activities, net | 15 |
| Net cash (used for) provided by investing activities from continuing operations | -318 |
| Proceeds from long-term debt | 0 |
| Repayments of long-term debt and finance leases | 427 |
| Payment of financing costs | 0 |
| Payment of common share dividends and partnership exchangeable unit distributions | 1,108 |
| Repurchase of common shares | 0 |
| Proceeds from stock option exercises | 33 |
| Proceeds from derivatives | 67 |
| Other financing activities, net | -1 |
| Net cash used for financing activities from continuing operations | -1,436 |
| Net cash used for discontinued operations | -81 |
| Effect of exchange rates on cash and cash equivalents | 16 |
| (decrease) increase in cash and cash equivalents, including cash classified as assets held for sale - discontinued operations | -105 |
Restaurant Brands International Inc. (QSR)
Restaurant Brands International Inc. (QSR)