Restaurant Brands International Limited Partnership
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
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Item 2. Properties
Our corporate headquarters is located in Toronto, Ontario and consists of approximately 65,000 square feet which we lease. Our U.S. headquarters is located in Miami, Florida and consists of approximately 150,000 square feet which we lease. We also lease office property in Switzerland, Singapore and Jacksonville, Florida and additional office space in Canada.
The table below sets forth the real estate profile of each of our franchised restaurants and company restaurants by operating segment. As discussed in the Business section, our TH, BK, PLK and FHS segments include operations for each of these brands in the U.S. and Canada while our INTL segment includes operations of each of our four brands outside of the U.S. and Canada. In addition to the restaurant properties below, we own five distribution centers and own two manufacturing plants in Canada which are included in our TH segment. We also lease one manufacturing plant in the U.S. which is included in our TH segment.
As of December 31, 2023, our restaurant footprint was as follows:
| TH | BK | PLK | FHS | INTL | Total | |
|---|---|---|---|---|---|---|
| Franchised Restaurants | ||||||
| Sites owned by us and leased to franchisees | 770 | 629 | 37 | — | 2 | 1,438 |
| Sites leased by us and subleased to franchisees | 2,771 | 670 | 56 | — | 6 | 3,503 |
| Sites owned/leased directly by franchisees | 976 | 5,707 | 3,260 | 1,226 | 14,734 | 25,903 |
| Total franchised restaurant sites | 4,517 | 7,006 | 3,353 | 1,226 | 14,742 | 30,844 |
| Company Restaurants | ||||||
| Sites owned by us | 1 | 31 | 10 | — | — | 42 |
| Sites leased by us | 7 | 107 | 31 | 39 | — | 184 |
| Total company restaurant sites | 8 | 138 | 41 | 39 | — | 226 |
| Total system-wide restaurant sites | 4,525 | 7,144 | 3,394 | 1,265 | 14,742 | 31,070 |
We believe that our existing headquarters and other leased and owned facilities are adequate to meet our current requirements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.