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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues      
Total revenues $ 8,263 $ 8,776 $ 8,415
Costs and Expenses, Net      
General and administrative expenses 479 487 456
Other operating costs and expenses 57 37 29
Closures and impairment expenses, net 55 36 41
Other income, net (285) (60) (152)
Total costs and expenses, net 7,302 7,875 7,474
Operating Profit 961 901 941
Interest income, net [1] 43 39 36
Investment gain (loss) [1] 104 63 (27)
Income Before Income Taxes 1,108 1,003 950
Income tax provision (295) (260) (214)
Net income – including noncontrolling interests 813 743 736
Net income – noncontrolling interests 29 30 28
Net Income – Yum China Holdings, Inc. $ 784 $ 713 $ 708
Weighted-average common shares outstanding (in millions):      
Basic [2] 390 377 384
Diluted 402 388 395
Basic Earnings Per Common Share $ 2.01 $ 1.89 $ 1.84
Diluted Earnings Per Common Share $ 1.95 $ 1.84 $ 1.79
Company Sales [Member]      
Revenues      
Revenues $ 7,396 $ 7,925 $ 7,633
Franchise [Member]      
Revenues      
Revenues 148 148 141
Costs and Expenses, Net      
Cost of goods and services sold 65 71 71
Transactions With Franchisees and Unconsolidated Affiliates [Member]      
Revenues      
Revenues 647 654 603
Costs and Expenses, Net      
Cost of goods and services sold 633 645 595
Other Revenues [Member]      
Revenues      
Revenues 72 49 38
Company Restaurant Expenses [Member]      
Costs and Expenses, Net      
Food and paper 2,342 2,479 2,326
Payroll and employee benefits 1,730 1,807 1,714
Occupancy and other operating expenses 2,226 2,373 2,394
Cost of goods and services sold $ 6,298 $ 6,659 $ 6,434
[1] Amounts have not been allocated to any segment for performance reporting purposes.
[2] As a result of the separation, shares of Yum China common stock were distributed to YUM’s shareholders of record as of October 19, 2016 and included in the calculated weighted-average common shares outstanding. Holders of outstanding YUM equity awards generally received both adjusted YUM awards and Yum China awards, or adjusted awards of either YUM or Yum China in their entirety. Any subsequent exercise of these awards, whether held by the Company’s employees or YUM’s employees, would increase the number of common shares outstanding. The incremental shares arising from outstanding equity awards are included in the computation of diluted EPS, if there is dilutive effect. See Note 14 for a further discussion of share-based compensation. In September 2020, 41,910,700 common shares were issued as a result of the Company’s global offering and secondary listing on the HKEX and they were included in the calculated weighted-average common shares outstanding.