Pizza Hut 2006 Annual Report Download - page 51

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56 YUM! BRANDS, INC.
Consolidated Balance Sheets
YUM! Brands, Inc. and Subsidiaries
December 30, 2006 and December 31, 2005
(in millions) 2006 2005
ASSETS
Current Assets
Cash and cash equivalents $ 319 $ 158
Short-term investments 643
Accounts and notes receivable, less allowance: $18 in 2006 and $23 in 2005 220 236
Inventories 93 85
Prepaid expenses and other current assets 132 75
Deferred income taxes 57 181
Advertising cooperative assets, restricted 74 77
Total Current Assets 901 855
Property, plant and equipment, net 3,631 3,356
Goodwill 662 538
Intangible assets, net 347 330
Investments in unconsolidated affiliates 138 173
Other assets 369 320
Deferred income taxes 305 225
Total Assets $ 6,353 $ 5,797
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Accounts payable and other current liabilities $ 1,386 $ 1,256
Income taxes payable 37 79
Short-term borrowings 227 211
Advertising cooperative liabilities 74 77
Total Current Liabilities 1,724 1,623
Long-term debt 2,045 1,649
Other liabilities and deferred credits 1,147 1,076
Total Liabilities 4,916 4,348
Shareholders’ Equity
Preferred stock, no par value, 250 shares authorized; no shares issued — —
Common stock, no par value, 750 shares authorized; 265 shares and 278 shares
issued in 2006 and 2005, respectively — —
Retained earnings 1,593 1,619
Accumulated other comprehensive loss (156) (170)
Total Shareholders’ Equity 1,437 1,449
Total Liabilities and Shareholders’ Equity $ 6,353 $ 5,797
See accompanying Notes to Consolidated Financial Statements.