Pizza Hut 2010 Annual Report Download - page 160

63
Consolidated Statements of Income
YUM! Brands, Inc. and Subsidiaries
Fiscal years ended December 25, 2010, December 26, 2009 and December 27, 2008
(in millions, except per share data)
2010 2009 2008
Revenues
Company sales
$
9,783 $ 9,413 $ 9,843
Franchise and license fees and income 1,560 1,423 1,461
Total revenues 11,343 10,836 11,304
Costs and Expenses, Net
Company restaurants
Food and paper 3,091 3,003 3,239
Payroll and employee benefits 2,172 2,154 2,370
Occupancy and other operating expenses 2,857 2,777 2,856
Company restaurant expenses 8,120 7,934 8,465
General and administrative expenses 1,277 1,221 1,342
Franchise and license expenses 110 118 99
Closures and impairment (income) expenses 47 103 43
Refranchising (gain) loss 63 (26) (5)
Other (income) expense (43) (104) (157)
Total costs and expenses, net 9,574 9,246 9,787
Operating Profit 1,769 1,590 1,517
Interest expense, net 175 194 226
Income Before Income Taxes 1,594 1,396 1,291
Income tax provision 416 313 319
N
e
t
Income – including noncontrolling interest 1,178 1,083 972
N
e
t
Income – noncontrolling interest 20 12 8
Net Income – YUM! Brands, Inc.
$
1,158 $ 1,071 $ 964
Basic Earnings Per Common Share
$
2.44 $ 2.28 $ 2.03
Diluted Earnings Per Common Share
$
2.38 $ 2.22 $ 1.96
Dividends Declared Per Common Share
$
0.92 $ 0.80 $ 0.72
See accompanying Notes to Consolidated Financial Statements.
Form 10-K