EX-12.1 3 yum-12312011xex121.htm EX-12.1 YUM-12.31.2011-EX12.1


Exhibit 12.1
YUM! Brands, Inc.
Ratio of Earnings to Fixed Charges Years Ended 2011 - 2007
(In millions except ratio amounts)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
53 Weeks
 
52 Weeks
 
 
2011
 
2010
 
2009
 
2008
 
2007
 
 
 
 
 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pretax income from continuing operations before cumulative effect of accounting changes
 
$
1,659

 
$
1,594

 
$
1,396

 
$
1,291

 
$
1,191

 
 
 
 
 
 
 
 
 
 
 
50% or less owned Affiliates' interests, net
 
(8
)
 
(7
)
 
(1
)
 
(1
)
 
(7
)
 
 
 
 
 
 
 
 
 
 
 
Interest Expense
 
203

 
212

 
229

 
273

 
217

 
 
 
 
 
 
 
 
 
 
 
Interest portion of net rent expense
 
314

 
298

 
276

 
258

 
243

 
 
 
 
 
 
 
 
 
 
 
Earnings available for fixed charges
 
$
2,168

 
$
2,097

 
$
1,900

 
$
1,821

 
$
1,644

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest Expense
 
$
204

 
$
213

 
$
230

 
$
273

 
$
217

Interest portion of net rent expense
 
314

 
298

 
276

 
258

 
243

 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
 
$
518

 
$
511

 
$
506

 
$
531

 
$
460

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
4.19

 
4.10

 
3.75

 
3.43

 
3.57