Pizza Hut 2008 Annual Report Download - page 178

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56
Consolidated Statements of Income
YUM! Brands, Inc. and Subsidiaries
Fiscal years ended December 27, 2008, December 29, 2007 and December 30, 2006
(in millions, except per share data)
2008 2007 2006
Revenues
Company sales $ 9,843 $ 9,100 $ 8,365
Franchise and license fees 1,436 1,316 1,196
Total revenues 11,279 10,416 9,561
Costs and Expenses, Net
Company restaurants
Food and paper 3,239 2,824 2,549
Payroll and employee benefits 2,370 2,305 2,142
Occupancy and other operating expenses 2,856 2,644 2,403
Company restaurant expenses 8,465 7,773 7,094
General and administrative expenses 1,342 1,293 1,187
Franchise and license expenses 74 40 35
Closures and impairment (income) expenses 43 35 59
Refranchising (gain) loss (5) (11) (24)
Other (income) expense (146) (71) (52)
Total costs and expenses, net 9,773 9,059 8,299
Operating Profit 1,506 1,357 1,262
Interest expense, net 226 166 154
Income before Income Taxes 1,280 1,191 1,108
Income tax provision 316 282 284
Net Income $ 964 $ 909 $ 824
Basic Earnings Per Common Share $ 2.03 $ 1.74 $ 1.51
Diluted Earnings Per Common Share $ 1.96 $ 1.68 $ 1.46
Dividends Declared Per Common Share $ 0.72 $ 0.45 $ 0.43
See accompanying Notes to Consolidated Financial Statements.
Form 10-K