Pizza Hut 2013 Annual Report Download - page 148

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YUM! BRANDS, INC.-2013 Form10-K52
Form 10-K
PART II
ITEM 8Financial Statements andSupplementaryData
NOTE6 Franchise and License Fees and Income
2013 2012 2011
Initial fees, including renewal fees $ 90 $ 92 $ 83
Initial franchise fees included in Refranchising (gain) loss (13) (24) (21)
77 68 62
Continuing fees and rental income 1,823 1,732 1,671
FRANCHISE AND LICENSE FEES AND INCOME $ 1,900 $ 1,800 $ 1,733
NOTE7 Other (Income) Expense
2013 2012 2011
Equity (income) loss from investments in unconsolidated affiliates $ (26) $ (47) $ (47)
Gain upon acquisition of Little Sheep(a) — (74) —
Foreign exchange net (gain) loss and other 10 6 (6)
OTHER (INCOME) EXPENSE $ (16) $ (115) $ (53)
(a) See Note 4 for further details on the acquisition of Little Sheep.
NOTE8 Supplemental Balance Sheet Information
Prepaid Expenses and Other Current Assets 2013 2012
Income tax receivable $ 89 $ 55
Assets held for sale(a) 16 56
Other prepaid expenses and current assets 181 161
PREPAID EXPENSES AND OTHER CURRENT ASSETS $ 286 $ 272
(a) Reflects restaurants we have offered for sale to franchisees and excess properties that we do not intend to use for restaurant operations in the future.
Property, Plant and Equipment 2013 2012
Land $ 508 $ 469
Buildings and improvements 4,393 4,093
Capital leases, primarily buildings 199 200
Machinery and equipment 2,750 2,627
Property, plant and equipment, gross 7,850 7,389
Accumulated depreciation and amortization (3,391) (3,139)
PROPERTY, PLANT AND EQUIPMENT, NET $ 4,459 $ 4,250
Depreciation and amortization expense related to property, plant and equipment was $686 million, $629 million and $599 million in 2013, 2012 and
2011, respectively.
Accounts Payable and Other Current Liabilities 2013 2012
Accounts payable $ 704 $ 684
Accrued capital expenditures 223 264
Accrued compensation and benefits 442 487
Dividends payable 164 151
Accrued taxes, other than income taxes 93 103
Other current liabilities 303 347
ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES $ 1,929 $ 2,036