Pizza Hut 2014 Annual Report Download - page 132
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13MAR201517272138
PART II
ITEM 8 Financial Statements and Supplementary Data
Consolidated Statements of Income
YUM! BRANDS, Inc. AND SUBSIDIARIES
FISCAL YEARS ENDED DECEMBER 27, 2014, DECEMBER 28, 2013 AND DECEMBER 29, 2012
(in millions, except per share data) 2014 2013 2012
Revenues
Company sales $ 11,324 $ 11,184 $ 11,833
Franchise and license fees and income 1,955 1,900 1,800
Total revenues 13,279 13,084 13,633
Costs and Expenses, Net
Company restaurants
Food and paper 3,678 3,669 3,874
Payroll and employee benefits 2,579 2,499 2,620
Occupancy and other operating expenses 3,425 3,333 3,358
Company restaurant expenses 9,682 9,501 9,852
General and administrative expenses 1,419 1,412 1,510
Franchise and license expenses 160 158 133
Closures and impairment (income) expenses 535 331 37
Refranchising (gain) loss (33) (100) (78)
Other (income) expense (41) (16) (115)
Total costs and expenses, net 11,722 11,286 11,339
Operating Profit 1,557 1,798 2,294
Interest expense, net 130 247 149
Income Before Income Taxes 1,427 1,551 2,145
Income tax provision 406 487 537
Net Income – including noncontrolling interests 1,021 1,064 1,608
Net Income (loss) – noncontrolling interests (30) (27) 11
Net Income – YUM! Brands, Inc. $ 1,051 $ 1,091 $ 1,597
Basic Earnings Per Common Share $ 2.37 $ 2.41 $ 3.46
Diluted Earnings Per Common Share $ 2.32 $ 2.36 $ 3.38
Dividends Declared Per Common Share $ 1.56 $ 1.41 $ 1.24
See accompanying Notes to Consolidated Financial Statements.
38 YUM! BRANDS, INC. - 2014 Form 10-K
Form 10-K