Shareholders' Equity

6 Months Ended

Jun. 11, 2011

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

Under the authority of our Board of Directors, we repurchased shares of our Common Stock during the year to date ended June 11, 2011 and June 12, 2010, as indicated below.  All amounts exclude applicable transaction fees.

		Shares Repurchased (thousands)				Dollar Value of Shares Repurchased						Remaining Dollar Value of Shares that may be Repurchased
Authorization Date	Authorization Expiration Date	2011		2010		2011			2010			2011		2010
September 2009	September 2010	—		6,848		$	—		$	252		$	—	$	48
March 2010	March 2011	3,441		—		171			—			—		300
January 2011	June 2012	2,620		—		137			—			613		—
Total		6,061	(a)	6,848	(b)	$	308	(a)	$	252	(b)	$	613	$	348

(a) Amount excludes the effect of $19 million in share repurchases (0.4 million shares) with trade dates prior to the 2010 fiscal year end but cash settlement dates subsequent to the 2010 fiscal year end and includes the effect of $8 million in share repurchases (0.1 million shares) with trade dates prior to June 11, 2011 but with settlement dates subsequent to June 11, 2011.

(b) Amount includes the effect of $5 million in share repurchases (0.1 million shares) with trade dates prior to June 12, 2010 but with settlement dates subsequent to June 12, 2010.

Comprehensive income was as follows:

	Quarter ended						Year to date
	6/11/2011			6/12/2010			6/11/2011			6/12/2010
Net Income – YUM! Brands, Inc.	$	316		$	286		$	580		$	527
Foreign currency translation adjustment	69			(16		)	117			(47		)
Changes in fair value of derivatives, net of tax	(4		)	10			(10		)	34
Reclassification of derivative (gains) losses to Net Income, net of tax	5			(13		)	11			(35		)
Reclassification of pension actuarial losses to Net Income, net of tax	5			5			10			9
Total comprehensive income – YUM! Brands, Inc.	$	391		$	272		$	708		$	488

A reconciliation of the beginning and ending carrying amount of the equity attributable to noncontrolling interests is as follows:

Noncontrolling interests as of December 25, 2010	$	93
Net Income – noncontrolling interests	9
Foreign currency translation adjustment	2
Dividends declared	(21		)
Noncontrolling interests as of June 11, 2011	$	83