Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2016

Selected Quarterly Financial Data (Unaudited) [Abstract]

Selected Quarterly Financial Data (Unaudited)



	2016
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter			Total
Revenues:
Company sales	$	887	$	996	$	993	$	1,324		$	4,200
Franchise and license fees and income	477		481		508		700			2,166
Total revenues	1,364		1,477		1,501		2,024			6,366
Restaurant profit	147		165		159		231			702
Operating Profit^(a)	356		408		372		489			1,625
Income from continuing operations, net of tax	240		265		204		285			994
Income (loss) from discontinued operations, net of tax	151		74		418		(18		)	625
Net Income	391		339		622		267			1,619
Basic earnings per common share from continuing operations	0.58		0.65		0.52		0.77			2.52
Basic earnings(loss) per common share from discontinued operations	0.36		0.17		1.07		(0.05		)	1.59
Basic earnings per common share	0.94		0.82		1.59		0.72			4.11
Diluted earnings per common share from continuing operations	0.57		0.64		0.51		0.76			2.48
Diluted earnings (loss) per common share from discontinued operations	0.36		0.17		1.05		(0.05		)	1.56
Diluted earnings per common share	0.93		0.81		1.56		0.71			4.04
Dividends declared per common share	0.46		0.46		—		0.81			1.73



	2015
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter			Total
Revenues:
Company sales	$	944	$	1,051	$	1,033	$	1,328		$	4,356
Franchise and license fees and income	467		475		494		648			2,084
Total revenues	1,411		1,526		1,527		1,976			6,440
Restaurant profit	149		177		160		223			709
Operating Profit^(b)	355		279		339		429			1,402
Income from continuing operations, net of tax	246		169		231		290			936
Income (loss) from discontinued operations, net of tax	116		66		190		(15		)	357
Net Income	362		235		421		275			1,293
Basic earnings per common share from continuing operations	0.56		0.39		0.53		0.67			2.15
Basic earnings (loss) per common share from discontinued operations	0.27		0.15		0.44		(0.03		)	0.82
Basic earnings per common share	0.83		0.54		0.97		0.64			2.97
Diluted earnings per common share from continuing operations	0.55		0.38		0.52		0.66			2.11
Diluted earnings (loss) per common share from discontinued operations	0.26		0.15		0.43		(0.03		)	0.81
Diluted earnings per common share	0.81		0.53		0.95		0.63			2.92
Dividends declared per common share	—		0.82		—		0.92			1.74

(a)

Includes net gains from refranchising initiatives of $3 million, $53 million, $21 million and $64 million in the first, second, third and fourth quarters, respectively, costs associated with YUM’s Strategic Transformation Initiatives of $5 million, $27 million and $39 million in the second, third and fourth quarters, respectively, a non-cash charge associated with the modification of EID share-based compensation awards in connection with the Separation of $30 million in the fourth quarter, costs associated with KFC U.S. Acceleration Agreement of $9 million, $8 million and $9 million in the first, second and fourth quarters, respectively, and charges incurred as a result of settlement payments of deferred vested pension balances in the Plan of $1 million and $24 million in the third and fourth quarters, respectively. See Note 5.

(b)

Includes net gains from refranchising initiatives of $7 million and $49 million in the first and fourth quarters, respectively, and net losses from refranchising initiatives of $72 million and $4 million in the second and third quarters, respectively. Also includes costs associated with KFC U.S. Acceleration Agreement of $2 million, $8 million, $21 million and $41 million in the first, second, third and fourth quarters, respectively. See Note 5.