Pizza Hut 2010 Annual Report Download - page 208
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111
Note 18 – Reportable Operating Segments
We are principally engaged in developing, operating, franchising and licensing the worldwide KFC, Pizza Hut, Taco Bell,
LJS and A&W concepts. KFC, Pizza Hut, Taco Bell, LJS and A&W operate in 110, 95, 21, 4 and 9 countries and
territories, respectively. Our five largest international markets based on operating profit in 2010 are China, Asia
Franchise, Australia, United Kingdom, and Latin America Franchise.
We identify our operating segments based on management responsibility. The China Division includes only mainland
China and YRI includes the remainder of our international operations. In the U.S., we consider LJS and A&W to be a
single operating segment. We consider our KFC, Pizza Hut, Taco Bell and LJS/A&W operating segments in the U.S. to
be similar and therefore have aggregated them into a single reportable operating segment.
Revenues
2010 2009 2008
China Division $ 4,135 $ 3,407 $ 2,840
YRI 3,088 2,988 3,332
U.S. 4,120 4,473 5,132
Unallocated Franchise and license fees and income(a)(b)
—
(32
)
—
$ 11,343 $ 10,836 $ 11,304
Operating Profit; Interest Expense, Net; and
Income Before Income Taxes
2010 2009 2008
China Division(c) $ 755 $ 596 $ 471
YRI 589 497 531
U.S. 668 647 641
Unallocated Franchise and license fees and income(a)(b)
—
(32)
—
Unallocated Occupancy and other(b)(d) 9
—
—
Unallocated and corporate expenses(b)(e) (194
)
(189) (248)
Unallocated Impairment expense(b)(f)
—
(26)
—
Unallocated Other income (expense)(b)(g) 5 71 117
Unallocated Refranchising gain (loss)(b) (63
)
26 5
Operating Profit 1,769 1,590 1,517
Interest expense, net (175
)
(194) (226)
Income Before Income Taxes $ 1,594 $ 1,396 $ 1,291
Form 10-K