Pizza Hut 2004 Annual Report Download - page 51

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Consolidated฀Balance฀Sheets
December฀25,฀2004฀and฀December฀27,฀2003
(in฀millions)฀ 2004฀ 2003
ASSETS
Current฀Assets
Cash฀and฀cash฀equivalents฀ $฀ 62฀ $฀ 192
Short-term฀investments,฀at฀cost฀ ฀ 54฀ ฀ 15
Accounts฀and฀notes฀receivable,฀less฀allowance:฀$22฀in฀2004฀and฀$25฀in฀2003฀ ฀ 192฀ ฀ 150
Inventories฀ ฀ 76฀ ฀ 67
Assets฀classified฀as฀held฀for฀sale฀ ฀ 7฀ ฀ 96
Prepaid฀expenses฀and฀other฀current฀assets฀ ฀ 135฀ ฀ 65
Deferred฀income฀taxes฀ ฀ 156฀ ฀ 165
Advertising฀cooperative฀assets,฀restricted฀ ฀ 65฀ ฀ 56
฀Total฀Current฀Assets฀฀ 747฀ ฀ 806
Property,฀plant฀and฀equipment,฀net฀ ฀3,439฀ ฀3,280
Goodwill฀ ฀ ฀ 553฀ ฀ 521
Intangible฀assets,฀net฀ ฀ 347฀ ฀ 357
Investments฀in฀unconsolidated฀affiliates฀ ฀ 194฀ ฀ 184
Other฀assets฀ ฀ 416฀ ฀ 472
฀Total฀Assets฀$฀5,696฀ $฀5,620
LIABILITIES฀AND฀SHAREHOLDERS’฀EQUITY
Current฀Liabilities
Accounts฀payable฀and฀other฀current฀liabilities฀ $฀1,160฀ $฀1,157
Dividends฀payable฀ ฀ 29฀ ฀ —
Income฀taxes฀payable฀ ฀ 111฀ ฀ 238
Short-term฀borrowings฀ ฀ 11฀ ฀ 10
Advertising฀cooperative฀liabilities฀ ฀ 65฀ ฀ 56
฀Total฀Current฀Liabilities฀฀1,376฀ ฀1,461
Long-term฀debt฀ ฀1,731฀ ฀2,056
Other฀liabilities฀and฀deferred฀credits฀ ฀ 994฀ ฀ 983
฀Total฀Liabilities฀฀4,101฀ ฀4,500
Shareholders’฀Equity
Preferred฀stock,฀no฀par฀value,฀250฀shares฀authorized;฀no฀shares฀issued฀ ฀ —฀ ฀ —
Common฀stock,฀no฀par฀value,฀750฀shares฀authorized;฀฀
฀ 290฀shares฀and฀292฀shares฀issued฀in฀2004฀and฀2003,฀respectively฀ ฀ 659฀ ฀ 916
Retained฀earnings฀ ฀1,067฀ ฀ 414
Accumulated฀other฀comprehensive฀income฀(loss)฀ ฀ (131)฀ ฀ (210)
฀Total฀Shareholders’฀Equity฀฀1,595฀ ฀1,120
฀Total฀Liabilities฀and฀Shareholders’฀Equity฀$฀5,696฀ $฀5,620
See฀accompanying฀Notes฀to฀Consolidated฀Financial฀Statements.
49
Yum!฀Brands,฀Inc.