Pizza Hut 2005 Annual Report Download - page 50

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Fiscal฀years฀ended฀December฀31,฀2005,฀
December฀25,฀2004฀and฀December฀27,฀2003
(in฀millions,฀except฀per฀share฀data) 2005฀ 2004฀ 2003
Revenues
Company฀sales฀ $฀8,225฀ $฀7,992฀ $฀7,441
Franchise฀and฀license฀fees฀ ฀1,124฀ ฀1,019฀ ฀ 939
฀9,349฀ ฀9,011฀ ฀8,380
Costs฀and฀Expenses,฀net
Company฀restaurants฀
฀ Food฀and฀paper฀ ฀2,584฀ ฀2,538฀ ฀2,300
฀ Payroll฀and฀employee฀benefi฀ts฀ ฀2,171฀ ฀2,112฀ ฀2,024
฀ Occupancy฀and฀other฀operating฀expenses฀ ฀2,315฀ ฀2,183฀ ฀2,013
฀ ฀ ฀ ฀7,070฀ ฀6,833฀ ฀6,337
General฀and฀administrative฀expenses฀ ฀1,158฀ ฀1,056฀ ฀ 945
Franchise฀and฀license฀expenses฀ ฀ 33฀ ฀ 26฀ ฀ 28
Facility฀actions฀ ฀ 19฀ ฀ 26฀ ฀ 36
Other฀(income)฀expense฀ ฀ (80)฀ ฀ (55)฀ ฀ (41)
Wrench฀litigation฀(income)฀expense฀ ฀ (2)฀ ฀ (14)฀ ฀ 42
AmeriServe฀and฀other฀charges฀(credits)฀ ฀ (2)฀ ฀ (16)฀ ฀ (26)
Total฀costs฀and฀expenses,฀net฀ ฀8,196฀ ฀7,856฀ ฀7,321
Operating฀Profi฀t ฀1,153฀ ฀1,155฀ ฀1,059
Interest฀expense,฀net฀ ฀ 127฀ ฀ 129฀ ฀ 173
Income฀before฀Income฀Taxes฀and฀Cumulative฀
฀ Effect฀of฀Accounting฀Change ฀1,026฀ ฀1,026฀ ฀ 886
Income฀tax฀provision฀ ฀ 264฀ ฀ 286฀ ฀ 268
Income฀before฀Cumulative฀Effect฀of฀Accounting฀Change ฀ 762฀ ฀ 740฀ ฀ 618
Cumulative฀effect฀of฀accounting฀change,฀net฀of฀tax฀ ฀ —฀ ฀ —฀ ฀ (1)
Net฀Income฀฀ $฀ 762฀ $฀ 740฀ $฀ 617
Basic฀Earnings฀Per฀Common฀Share฀ $฀ 2.66฀ $฀ 2.54฀ $฀ 2.10
Diluted฀Earnings฀Per฀Common฀Share฀ $฀ 2.55฀ $฀ 2.42฀ $฀ 2.02
Dividends฀Declared฀Per฀Common฀Share฀ $฀0.445฀ $฀ 0.30฀ $฀ —
See฀accompanying฀Notes฀to฀Consolidated฀Financial฀Statements.
Consolidated฀Statements฀of฀Income
YUM!฀Brands,฀Inc.฀and฀Subsidiaries
54.฀ ฀ ฀ |฀ ฀ ฀ Yum!฀Brands,฀Inc.