RBI revises segments to TH, BK, PLK, FHS, INTL; shifts segment income metric to AOI

Restaurant Brands International Inc.

New five reportable segments: Tim Hortons, Burger King, Popeyes, Firehouse Subs, and International.
Segment income measure changes from Adjusted EBITDA to Adjusted Operating Income (AOI) including D&A and SBC.
11 quarters of historical data (Q1'21–Q3'23) provided under new segment structure; no consolidated restatement.
Q4 and full-year 2023 results under new segments to be reported on February 13, 2024.
CEO says change gives brand leaders greater autonomy over strategic decisions.

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