. Based on our current level of operations and available cash, we believe our cash flow from operations, combined with availability under our Revolving Credit Facility, will provide sufficient liquidity to fund our current obligations, debt service requirements and capital spending requirements over the next twelve months and the foreseeable future. We received a significant minority stake and board seats in the joint venture without deploying our own capital. Mkt Cap as of 2013-09-12. In addition, the Acquisition was accounted for under the acquisition method of accounting, which resulted in purchase price allocations that affect the comparability of results of operations for periods before and after the Acquisition. Earnings Trends 09-30-14 Historical years use fiscal year-end.
We outsource certain aspects of our business to third party vendors which subjects us to risks, including disruptions in our business and increased costs. The following table sets forth for the periods indicated the high and low sales prices of our common stock on the New York Stock Exchange and dividends declared per share of common stock. The change became effective at the end of the quarter ended December 31, 2010. We completed our global refranchising initiative, fundamentally transforming our business model and putting restaurant operations into the hands of our experienced franchisees. Lastly, Domino's remains committed to returning cash to shareholders via their dividend and stock buyback program. No significant payments have been made by us in connection with these guarantees through December 31, 2012. As of December 31, 2011, we owned approximately 2,928 trademark and service mark registrations and applications and approximately 1,376 domain name registrations around the world, some of which are of material importance to our business.
Fiscal 2010 compared to Fiscal 2009 Company restaurants Company restaurant revenues decreased due to the net refranchising of 52 Company restaurants and the effects of negative Company comparable sales growth. In general, we approve the manufacturers of the food, packaging and equipment products and other products used in Burger King restaurants, as well as the distributors of these products to Burger King restaurants. Additional offsets include benefits realized from improvements in variable labor controls and scheduling in our U. Our impairment review for goodwill consists of a qualitative assessment of whether it is more-likely-than-not that a reporting units fair value is less than its carrying amount, and if required, followed by a two-step process of determining the fair value of the reporting unit and comparing it to the carrying value of the net assets allocated to the reporting unit. Despite our implementation of security measures, all of our technology systems are vulnerable to damage, disability or failures due to physical theft, fire, power loss, telecommunications failure or other catastrophic events, as well as from internal and external security breaches, denial of service attacks, viruses, worms and other disruptive problems caused by hackers.
If the service providers to which we outsource these functions to do not perform effectively, we may not be able to achieve the expected cost savings and may have to incur additional costs in connection with such failure to perform. In addition, we enter into forward contracts to reduce our exposure to volatility from foreign currency fluctuations associated with certain foreign currency-denominated assets. Our franchise dominated business model also presents a number of drawbacks and risks, such as our limited control over franchisees and limited ability to facilitate changes in restaurant ownership. In addition, we conduct scheduled and unscheduled inspections of Company and franchise restaurants throughout the Burger King system. We are subject to laws relating to information security, privacy, cashless payments and consumer credit, protection and fraud.
In the United States, we have established a cooperative with our franchisees to negotiate food prices on behalf of all Company and franchise restaurants. The interest rate under the senior secured credit facility for term loan A and the revolving credit facility is at our option either a the greater of the federal funds effective rate plus 0. We are required, however, under our U. We file income tax returns, including returns for our subsidiaries, with federal, state, local and foreign jurisdictions. Franchise and property expenses increased as a result of the amortization of reacquired franchise rights related to the 35 refranchised restaurants in Singapore discussed above.
The board sets the tone by promoting an ethical culture that respects and values all employees and stakeholders and encourages compliance with all laws and company policies. In this way Burger King is able to cater to the tastes of a very large segment of customers. In addition, increases in the minimum wage or labor regulations and the potential impact of union organizing efforts in the countries in which we operate could increase our labor costs. These competitive 15 advantages arising from greater financial resources and economies of scale may be exacerbated in a difficult economy, thereby permitting our competitors to gain market share. Our effective income tax rate in the future could be adversely affected by a number of factors, including: changes in the mix of earnings in countries with different statutory tax rates; changes in the valuation of deferred tax assets and liabilities; continued losses in certain international Company restaurant markets that could trigger a valuation allowance; changes in tax laws; the outcome of income tax audits in various jurisdictions around the world; taxes imposed upon sales of Company restaurants to franchisees; and any repatriation of non-U.
These items include share-based compensation and non-cash compensation expense, other operating income expenses, net, and all other specifically identified costs associated with non-recurring projects; Transaction costs, global restructuring and related professional fees, field optimization project costs and global portfolio realignment project costs. Various laws concerning the handling, storage and disposal of hazardous materials and restaurant waste and the operation of restaurants in environmentally sensitive locations may impact aspects of our operations; however, compliance with applicable 11 environmental regulations is not believed to have a material effect on capital expenditures, financial condition, results of operations, or our competitive position. In addition to historical consolidated financial information, this discussion contains forward-looking statements that reflect our plans, estimates and beliefs. The timing of religious holidays may also impact restaurant sales. We granted the joint venture exclusive development and sub-franchising rights in the country and received a minority equity stake without deploying our own capital.
We review the overall performance of our operations platforms and focuses on evaluating and improving restaurant operations and guest satisfaction. The team quickly put in place a strategic plan, called the Go Forward Plan. District Court for the Northern District of California. Supply and Distribution We establish the standards and specifications for most of the goods used in the development and operation of our restaurants and for the direct and indirect sources of supply of most of those items. Severe increases in inflation, however, could affect the global and U. There are some important inherent strengths of the brand and its business model which help it remain competitive and grow.