Restaurant Brands International Inc. Earnings Per Share Disclosure
| 2025 | 2024 | 2023 | |||||||||||||||
| Numerator: | |||||||||||||||||
| Net income from continuing operations attributable to common shareholders - basic | $ | 868 | $ | 1,021 | $ | 1,190 | |||||||||||
| Add: Net income from continuing operations attributable to noncontrolling interests | 332 | 421 | 525 | ||||||||||||||
| Net income from continuing operations available to common shareholders and noncontrolling interests - diluted | $ | 1,200 | $ | 1,442 | $ | 1,715 | |||||||||||
| Net loss from discontinued operations | $ | 126 | $ | — | $ | — | |||||||||||
| Net income attributable to common shareholders - basic | $ | 776 | $ | 1,021 | $ | 1,190 | |||||||||||
| Add: Net income attributable to noncontrolling interests | 298 | 421 | 525 | ||||||||||||||
| Net income available to common shareholders and noncontrolling interests - diluted | $ | 1,074 | $ | 1,442 | $ | 1,715 | |||||||||||
| Denominator: | |||||||||||||||||
| Weighted average common shares - basic | 329 | 319 | 312 | ||||||||||||||
| Exchange of noncontrolling interests for common shares (Note 14) | 126 | 131 | 139 | ||||||||||||||
| Effect of other dilutive securities | 2 | 4 | 6 | ||||||||||||||
| Weighted average common shares - diluted (a) | 457 | 454 | 456 | ||||||||||||||
| Basic net income per share from continuing operations (a) | $ | 2.64 | $ | 3.21 | $ | 3.82 | |||||||||||
| Basic net loss per share from discontinued operations (a) | $ | (0.28) | $ | — | $ | — | |||||||||||
| Basic net income per share (a) | $ | 2.36 | $ | 3.21 | $ | 3.82 | |||||||||||
| Diluted net income per share from continuing operations (a) | $ | 2.63 | $ | 3.18 | $ | 3.76 | |||||||||||
| Diluted net loss per share from discontinued operations (a) | $ | (0.28) | $ | — | $ | — | |||||||||||
| Diluted net income per share (a) | $ | 2.35 | $ | 3.18 | $ | 3.76 | |||||||||||
| Anti-dilutive securities outstanding | 5 | 4 | 5 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 20, 2026 | Showing above |
| 2024 | Feb 21, 2025 | |
| 2023 | Feb 22, 2024 | |
| 2022 | Feb 22, 2023 | |
| 2021 | Feb 23, 2022 | |
| 2020 | Feb 23, 2021 | |
| 2019 | Feb 21, 2020 | |
| 2018 | Feb 22, 2019 | |
| 2017 | Feb 23, 2018 | |
| 2016 | Feb 17, 2017 | |
| 2015 | Feb 26, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.