Pizza Hut 2012 Annual Report Download - page 130

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YUM! BRANDS, INC.-2012 Form10-K 38
Form 10-K
PART II
ITEM 8Financial Statements andSupplementaryData
Consolidated Statements of Income
YUM! BRANDS, INC. AND SUBSIDIARIES
FISCAL YEARS ENDED DECEMBER29, 2012, DECEMBER31, 2011 AND DECEMBER25, 2010
(in millions, except per share data)
2012 2011 2010
Revenues
Company sales $ 11,833 $ 10,893 $ 9,783
Franchise and license fees and income 1,800 1,733 1,560
Total revenues 13,633 12,626 11,343
Costs and Expenses, Net
Company restaurants
Food and paper 3,874 3,633 3,091
Payroll and employee benefi ts 2,620 2,418 2,172
Occupancy and other operating expenses 3,358 3,089 2,857
Company restaurant expenses 9,852 9,140 8,120
General and administrative expenses 1,510 1,372 1,277
Franchise and license expenses 133 145 110
Closures and impairment (income) expenses 37 135 47
Refranchising (gain) loss (78) 72 63
Other (income) expense (115) (53) (43)
Total costs and expenses, net 11,339 10,811 9,574
Operating Profi t 2,294 1,815 1,769
Interest expense, net 149 156 175
Income Before Income Taxes 2,145 1,659 1,594
Income tax provision 537 324 416
Net Income – including noncontrolling interest 1,608 1,335 1,178
Net Income – noncontrolling interest 11 16 20
NET INCOME – YUM! BRANDS, INC. $ 1,597 $ 1,319 $ 1,158
BASIC EARNINGS PER COMMON SHARE $ 3.46 $ 2.81 $ 2.44
DILUTED EARNINGS PER COMMON SHARE $ 3.38 $ 2.74 $ 2.38
DIVIDENDS DECLARED PER COMMON SHARE $ 1.24 $ 1.07 $ 0.92
See accompanying Notes to Consolidated Financial Statements.