CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $) In Millions, except Per Share data	3 Months Ended				9 Months Ended
	Sep. 03, 2011		Sep. 04, 2010		Sep. 03, 2011		Sep. 04, 2010
Revenues
Company sales	$ 2,854		$ 2,496		$ 7,336		$ 6,712
Franchise and license fees and income	420		366		1,179		1,069
Total revenues	3,274		2,862		8,515		7,781
Company restaurants
Food and paper	970		788		2,424		2,112
Payroll and employee benefits	600		516		1,609		1,480
Occupancy and other operating expenses	790		713		2,063		1,935
Company restaurant expenses	2,360		2,017		6,096		5,527
General and administrative expenses	310		285		873		813
Franchise and license expenses	41		24		104		71
Closures and impairment (income) expenses	25		5		113		21
Refranchising (gain) loss	66	[1],[2]	(2)	[2]	69	[1],[2]	51	[2],[3],[4]
Other (income) expense	(16)		(11)		(48)		(31)
Total costs and expenses, net	2,786		2,318		7,207		6,452
Operating Profit	488		544		1,308		1,329
Interest expense, net	32		38		110		121
Income Before Income Taxes	456		506		1,198		1,208
Income tax provision	67		139		220		307
Net Income – including noncontrolling interests	389		367		978		901
Net Income - noncontrolling interests	6		10		15		17
Net Income - YUM! Brands, Inc.	$ 383		$ 357		$ 963		$ 884
Basic Earnings Per Common Share	$ 0.82		$ 0.76		$ 2.05		$ 1.87
Diluted Earnings Per Common Share	$ 0.80		$ 0.74		$ 1.99		$ 1.82
Dividends Declared Per Common Share	$ 0.00		$ 0.00		$ 0.50		$ 0.42

[1] Includes the $76 million refranchising loss as a result of our decision to offer to refranchise all our remaining company-owned Pizza Hut dine-in restaurants in the UK.

[2] Refranchising (gain) loss is not allocated to segments for performance reporting purposes.

[3] During the quarter ended March 20, 2010 we refranchised all of our remaining company restaurants in Taiwan, which consisted of 124 KFCs. We included in our March 20, 2010 financial statements a non-cash write-off of $7 million of goodwill in determining the loss on refranchising of Taiwan. This loss did not result in a related income tax benefit, and was not allocated to any segment for performance reporting purposes. The amount of goodwill write-off was based on the relative fair values of the Taiwan business disposed of and the portion of the business that was retained. The fair value of the business disposed of was determined by reference to the discounted value of the future cash flows expected to be generated by the restaurants and retained by the franchisee, which included a deduction for the anticipated royalties the franchisee will pay the Company associated with the franchise agreement entered into in connection with this refranchising transaction. The fair value of the Taiwan business retained consisted of expected net cash flows to be derived from royalties from franchisees, including the royalties associated with the franchise agreement entered into in connection with this refranchising transaction. We believed the terms of the franchise agreement entered into in connection with the Taiwan refranchising were substantially consistent with market. The remaining carrying value of goodwill related to our Taiwan business of $30 million, after the aforementioned write-off, was determined not to be impaired subsequent to the refranchising as the fair value of the Taiwan reporting unit exceeded its carrying amount.

[4] U.S. refranchising loss for the year to date ended September 4, 2010 included $73 million in non-cash impairment charges related to our offer to refranchise a substantial portion of our Company operated KFCs in the U.S. in the first quarter of 2010. The majority of these restaurants offered for sale in 2010 continue to be Company operated at September 3, 2011. We believed in 2010 and continue to believe at September 3, 2011 that the restaurant groups for which we have not yet entered into agreements to sell do not meet the criteria to be classified as held for sale. Consistent with our historical policy, we are reviewing these restaurant groups for impairment on a held for use basis each quarter as a result of our intent to refranchise. To the extent the carrying value of these restaurant groups is not recoverable based upon our estimate of expected refranchising proceeds and holding period cash flows while we continue to operate the restaurants, we have further written them down to our current estimates of their fair value. These fair value estimates, which are based on the sales price we would expect to receive for each restaurant group, consider current market conditions, real-estate values, trends in the KFC-U.S. business, prices for similar transactions in the restaurant industry and preliminary offers for any restaurant groups to date. We continue to depreciate the carrying values of the restaurant assets, net of the aforementioned impairment charges, and will continue to do so through the date we believe the held for sale criteria for any restaurant groups are met. The impairment charges recorded do not include any allocation of the KFC reporting unit goodwill in the restaurant groups’ carrying values. This additional non-cash write down is being recorded, consistent with our historical policy, when a restaurant group ultimately meets the criteria to be classified as held for sale. We will also be required to record a charge for the fair value of our guarantee of future lease payments for leases we assign to the franchisee upon any sale.