Pizza Hut 2002 Annual Report Download - page 46

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CONSOLIDATED STATEMENTS OF INCOME
Fiscal years ended December 28, 2002, December 29, 2001 and December 30, 2000
(in millions, except per share data) 2002 2001 2000
Revenues
Company sales $ 6,891 $ 6,138 $ 6,305
Franchise and license fees 866 815 788
7, 75 7 6,953 7,093
Costs and Expenses, net
Company restaurants
Food and paper 2,109 1,908 1,942
Payroll and employee beneļ¬ts 1,875 1,666 1,744
Occupancy and other operating expenses 1,806 1,658 1,665
5,790 5,232 5,351
General and administrative expenses 913 796 830
Franchise and license expenses 49 59 49
Other (income) expense (30) (23) (25)
Facility actions net loss (gain) 32 1 (176)
Unusual items (income) expense (27) (3) 204
Total costs and expenses, net 6,727 6,062 6,233
Operating Profit 1,030 891 860
Interest expense, net 172 158 176
Income Before Income Taxes 858 733 684
Income tax provision 275 241 271
Net Income $ 583 $ 492 $ 413
Basic Earnings Per Common Share $1.97 $1.68 $ 1.41
Diluted Earnings Per Common Share $ 1.88 $ 1.62 $ 1.39
See accompanying Notes to Consolidated Financial Statements.
44.