Financial Performance - Total revenues for Arcos Dorados Holdings Inc. increased to 4,470,162thousandin2024,up3.24,331,878 thousand in 2023[24] - Net income attributable to Arcos Dorados Holdings Inc. decreased to 148,759thousandin2024,down18.0181,274 thousand in 2023[24] - Operating income rose to 324,515thousandin2024,comparedto314,039 thousand in 2023, reflecting a 3.9% increase[24] - Earnings per share attributable to Arcos Dorados Holdings Inc. were 0.71in2024,downfrom0.86 in 2023[24] - Comprehensive income attributable to Arcos Dorados Holdings Inc. was 43,356thousandin2024,adecreasefrom231,653 thousand in 2023[27] - The company reported a foreign currency exchange loss of 15,063thousandin2024,contrastingwithagainof10,774 thousand in 2023[24] - Pre-tax income for 2024 was 259,282,adecreaseof6.8278,117 in 2023[157] Assets and Liabilities - Total assets decreased from 3,019,238in2023to2,892,654 in 2024, a decline of approximately 4.2%[30] - Total current liabilities decreased from 841,670in2023to765,924 in 2024, a reduction of approximately 9.0%[30] - Total liabilities decreased from 2,502,399in2023to2,383,225 in 2024, a decline of about 4.8%[30] - Cash and cash equivalents decreased from 196,661in2023to135,064 in 2024, representing a decline of 31.2%[32] - The company reported a decrease in cash and cash equivalents at the end of the year, from 196,661in2023to135,064 in 2024, a decline of 31.2%[32] - The accumulated other comprehensive loss increased to 668.484millionin2024from563.081 million in 2023, indicating a worsening of approximately 18.7%[35] Cash Flow and Investments - Net cash provided by operating activities was 266,847in2024,downfrom381,965 in 2023, a decrease of 30.1%[32] - Property and equipment expenditures were 327,636in2024,comparedto360,097 in 2023, indicating a decrease of 8.9%[32] - The total net cash paid at acquisition date for restaurant businesses in 2024 was 6,083,comparedto2,081 in 2023[96] - The company reported cash paid for operating leases of 152,267in2024,anincreasefrom146,816 in 2023[144] Shareholder Information - The company declared cash dividends of 0.24persharefor2024,totaling50.557 million, compared to 0.19persharein2023,whichamountedto40.022 million, indicating a 26% increase in dividends paid[35] - As of December 31, 2024, total shareholders' equity was 509.429million,upfrom516.839 million in 2023, reflecting a decrease of about 1.6%[35] - The total number of Class A shares increased to 132,972,119 by December 31, 2024, from 132,964,031 in 2023, reflecting a slight increase[35] Tax and Compliance - The company's current income tax expense for 2024 was 121,292,upfrom100,012 in 2023, representing a year-over-year increase of 21.9%[155] - The weighted-average statutory income tax rate increased to 38.7% in 2024 from 36.1% in 2023[157] - The Company is subject to potential tax assessments amounting to 165millionforthefiscalyears2009to2017[165]FranchiseOperations−Brazilaccountedfor39.6650 million from 2022 to 2024[181] Derivative Instruments and Debt - The Company has entered into various derivative instruments classified as cash flow hedges, with total notional amounts of 48,799,000forforwardcontractsand80,000,000 for cross-currency interest rate swaps as of December 31, 2024[136] - The fair value of the company's short and long-term debt was estimated at 766,897,000,comparedtoacarryingamountof786,647,000[202] - The net interest expense and other financing results for 2024 showed a loss of 1,419,asignificantincreasefromalossof181 in 2023[138]
Arcos Dorados (ARCO)2025-03-12 11:35