Pizza Hut 1999 Annual Report Download - page 43

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41
consolidated statement of shareholders’ (deficit) equity
and comprehensive income
TRICON Global Restaurants, Inc. and Subsidiaries
Fiscal years ended December 25, 1999, December 26, 1998 and December 27, 1997
(in millions) Accumulated
Investments by Other
Issued Common Stock Accumulated and Advances Comprehensive
Shares Amount Deficit from PepsiCo Income Total
Balance at December 28, 1996 $ 4,268 $ (29) $ 4,239
Net income prior to Spin-off 283 283
Net loss after Spin-off (394) (394)
Foreign currency translation adjustment (101) (101)
Minimum pension liability adjustment
(includes tax of $2 million) 22
Comprehensive Income (Loss) (210)
Net investments by and advances from PepsiCo (1,152) (1,152)
Spin-off dividend and partial repayment of advances (2,369) (2,131) (4,500)
Issuance of shares of common stock, no par value,
in connection with the Spin-off 152 —
Contribution to capital of remaining unpaid advances 1,268 (1,268) —
Stock option exercises 3 3
Balance at December 27, 1997 152 $ 1,271 $ (2,763) $ — $ (128) $ (1,620)
Net income 445 445
Foreign currency translation adjustment (20) (20)
Minimum pension liability adjustment
(includes tax of $1 million) (2) (2)
Comprehensive Income 423
Adjustment to opening equity related to
net advances from PepsiCo 12 12
Stock option exercises
(includes tax benefits of $3 million) 1 22 22
Balance at December 26, 1998 153 $ 1,305 $ (2,318) $ — $ (150) $ (1,163)
Net income 627 627
Foreign currency translation adjustment 15 15
Minimum pension liability adjustment
(includes tax of $1 million) 22
Comprehensive Income 644
Adjustment to opening equity related to
net advances from PepsiCo 77
Repurchase of shares of common stock (3) (134) (134)
Stock option exercises
(includes tax benefits of $14 million) 139 39
Compensation-related events 47 47
Balance at December 25, 1999 151 $1,264 $ (1,691) $ — $(133) $ (560)
See accompanying Notes to Consolidated Financial Statements.