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Consolidated Statements of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 28, 2013
Dec. 29, 2012
Dec. 31, 2011
Revenues      
Company sales $ 11,184 $ 11,833 $ 10,893
Franchise and license fees and income 1,900 1,800 1,733
Total revenues 13,084 13,633 12,626
Company restaurants      
Food and paper 3,669 3,874 3,633
Payroll and employee benefits 2,499 2,620 2,418
Occupancy and other operating expenses 3,333 3,358 3,089
Company restaurant expenses 9,501 9,852 9,140
General and administrative expenses 1,412 1,510 1,372
Franchise and license expenses 158 133 145
Closures and impairment (income) expenses 331 37 135
Refranchising (gain) loss (100) (78) 72
Other (income) expense (16) (115) [1] (53)
Total costs and expenses, net 11,286 11,339 10,811
Operating Profit 1,798 [2] 2,294 [3] 1,815
Interest expense, net 247 [4] 149 [4] 156 [4]
Income Before Income Taxes 1,551 2,145 1,659
Income tax provision 487 537 324
Net Income (loss) - including noncontrolling interest 1,064 1,608 1,335
Net Income (loss) - noncontrolling interest (27) 11 16
Net Income (loss) - YUM! Brands, Inc. $ 1,091 [5] $ 1,597 $ 1,319
Basic Earnings Per Common Share (in dollars per share) $ 2.41 $ 3.46 $ 2.81
Diluted Earnings Per Common Share (in dollars per share) $ 2.36 $ 3.38 $ 2.74
Dividends Declared Per Common Share (in dollars per share) $ 1.41 $ 1.24 $ 1.07
[1] See Note 4 for further details on the acquisition of Little Sheep.
[2] Includes a non-cash charge of $295 million in the third quarter related primarily to the impairment of Little Sheep intangible assets and net U.S. refranchising gains of $17 million, $28 million, $37 million and $9 million in the first, second, third and fourth quarters, respectively. See Note 4 for further discussion.
[3] b)Includes a non-cash gain recognized upon acquisition of Little Sheep of $74 million in the first quarter, refranchising losses associated with the Pizza Hut UK dine-in business of $24 million and $46 million in the first and fourth quarters, respectively, net U.S. refranchising gains of $45 million and $69 million in the first and fourth quarters, respectively and a pension settlement charge of $84 million in the fourth quarter. See Note 4 for further discussion. (c)Includes an after-tax charge of $75 million in the fourth quarter related to the repurchase of Senior Unsecured Notes. See Note 4 for further discussion.
[4] Includes $118 million of premiums and other costs related to the extinguishment of debt. See Losses Related to the Extinguishment of Debt section of Note 4.
[5] Includes an after-tax charge of $75 million in the fourth quarter related to the repurchase of Senior Unsecured Notes.