餐饮品牌国际 2024年度报告

(MarkOne)!XiANNUALREPORTPURSUANTTOSECTION13 orIS(d)OF'fHESECURITIESEXCHANGEACTOF1934For thefiscalyear endedDecember 31,2024or0TRANSITIONREPORTPURSUANTTOSECTION13OR15(d )OFTHESECURITIESEXCHANGEACTOF1934Forthetransition periodfromto.,----Commissionfile number:001-36786 RESTAURANT BRANDS INTERNATIONAL INC.(Exactname of RegistrantasSpecifiedinItsCharter) Indicate by check mark whether the Registrant(I)hasfiled all reports requiredtobefiled bySection13or15(d)oftheSecuritiesExchangeActof1934 during the preceding 12 months(orfor such shorter~riodthatthe registrant was required tofile such reports),and(2)hasbeensubject to such filing requirements forthepast90days.Yes~NoDIndicate by check mark whether the registranthassubmitted electronicallyeveryInteractive DataFilerequired tobesubmittedpursuant toRule405ofRegulationS-T(§232.405ofthis chapter) during the preceding 12 months(orfor such shorterperiodthat the registrant wasrequiredtosubmit suchfiles).Yes~NoDIndicate by check markwhetherthe registrant is a largeaccelerated filer,anacceleratedfiler, a non-acceleratedfiler, a smaller reporting company,oranemerging growth company.Seethe definitionsof" largeacceleratedfiler,""acceleratedfiaer,""smallerreportingcompany"and"emerginggrowthcompany"inRule 12b-2ofthe Exchange Act.Large acceleratedfiler~Accelerated filer§ Ifan emerging growth company, indicate by checkmarkifthe registranthaselectednotto use the exnended transition period forcomplyingwith any neworrevised financial accounting standards provided pursuanttoSection13(a)ofthe Exchange Act.DIndicate by check mark whether the registranthasfileda reportonand attestation toits management' s assessmentofthe effectivenessof itsinternal controloverfinancial reporting underSection404(b)oftheSarbanes-OxleyAct(15U.S.C.7262(b)) by the registered publicaccounting firm that preparedorissued its audit report.~Ifsecurities are registered pursuant toSection12(b)ofthe Act, indicate bycheckmark whether the financial statementsofthe registrant included in the filing reflect the correctionofanerro;r topreviously issued financial statements.0Indicate by check markwhetheranyofthoseerrorcorrections are restatementsthatrequireda recovery analysisofincentive-based Thernumberofshares outstandingofthe registrant's common shares asofFebruary 14,2025was 324,984,645 shares. In addition,asofFebruary 14,2025,therewere 127,038,577 Class B exchangeable limited partnership unitsofRestaurant BrandsInternational LimitedPartnership whichareexchangeable,onaoneforonebasis, into common sharesoftheRegistrant.DOCUMENTSINCORPORATEDBYREFERENCE: Portionsofthe registrant's definitiveproxy statement for the2025Annual General MeetingofShareholders, which istobefilednolaterthan120daysafter December 3 1,2024,areincorporatedbyreference into Part01ofthisForm10-K. RESTAURANTBRANDSINTERNATIONALINC.2024FORM10-KANNUAL R EPORTTABLEOFCONTENTS PARTT Iteml.Item1A.ItemlB.ItemlC.ItemI .Item 2.Item3.Item 4.Item5.Item6.Item7.Item 7A.Item 8.Item9.Item9A.Item 9B .Item 9C.Item10.Item 11.Item 12.Item13.Item14.Item 15.Item 16.Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4Risk Factors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13UnresolvedStaffComments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .27Cybersecurity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .27Executive Officers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29Properties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .30Legal Proceedings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .31MineSafetyDisclosure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .31PARTIIMarket for Registrant's CommonEquity, RelatedStockholderMatters and Issuer PurchasesofEquitySecurities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .32Reserved . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .34Managementt'sDiscussionand AnalysisofFinancial Condition and ResultsofOperations. . .35Quantitativeand Qualitative Disclosures About Market Risk . . . . . . . . . . . . . . . . . . . . . . . . . . .56FinancialStatementsand Supplementary Data. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .64Changesinand Disagreements with AccountantsonAccounting and Financial Disclosure. . .117Controls and Procedures . . . . . . . . . .