First-quarter reports reflecting new lease accounting rules are beginning to trickle into the market, adding billions in assets and liabilities to balance sheets.
Restaurant Brands International, for example, added $1.5 billion in operating leases to its first-quarter 10-Q that didn’t exist in the company’s 2018 year-end filing. The company also added $1.01 billion in liabilities associated with operating leases and $287 million in liabilities tied to finance leases. The company franchises and operates nearly 26,000 restaurants under the brands Tim Hortons, Burger King, and Popeyes, making it a significant holder of leases both as lessee and lessor.
