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13MAR201517272138
PART II
ITEM 8 Financial Statements and Supplementary Data
Consolidated Statements of Shareholders’
Equity
YUM! BRANDS, INC. AND SUBSIDIARIES
FISCAL YEARS ENDED DECEMBER 27, 2014, DECEMBER 28, 2013 AND DECEMBER 29, 2012
Yum! Brands, Inc.
Accumulated
Issued Common Other Total Redeemable
Stock Retained Comprehensive Noncontrolling Shareholders’ Noncontrolling
(in millions) Shares Amount Earnings Income (Loss) Interests Equity Interest
Balance at December 31, 2011 460 $ 18 $ 2,052 $ (247) $ 93 $ 1,916 $ —
Net Income (loss) 1,597 11 1,608
Translation adjustments and gains (losses)
from intra-entity transactions of a long-term
investment nature (net of tax impact of
$3 million) 23 1 24
Reclassification of translation adjustments into
income 33
Pension and post-retirement benefit plans (net
of tax impact of $48 million) 89 89
Comprehensive Income (loss) 1,724 —
Noncontrolling Interest – Little Sheep
acquisition 16 16 59
Dividends declared (569) (22) (591)
Repurchase of shares of Common Stock (15) (191) (794) (985)
Employee stock option and SARs exercises
(includes tax impact of $89 million) 6 111 111
Compensation-related events (includes tax
impact of $11 million) 62 62
Balance at December 29, 2012 451 $ — $ 2,286 $ (132) $ 99 $ 2,253 $ 59
Net Income (loss) 1,091 (5) 1,086 (22)
Translation adjustments and gains (losses)
from intra-entity transactions of a long-term
investment nature (net of tax impact of
$2 million) 4262
Pension and post-retirement benefit plans (net
of tax impact of $115 million) 189 189
Net unrealized gain on derivative instruments
(net of tax impact of $1 million) 3 3
Comprehensive Income (loss) 1,284 (20)
Dividends declared (635) (18) (653)
Acquisition of Little Sheep store-level
noncontrolling interests (15) (15)
Repurchase of shares of Common Stock (11) (110) (640) (750)
Employee stock option and SARs exercises
(includes tax impact of $42 million) 3 49 49
Compensation-related events (includes tax
impact of $8 million) 61 61
Balance at December 28, 2013 443 $ — $ 2,102 $ 64 $ 63 $ 2,229 $ 39
Net Income (loss) 1,051 (1) 1,050 (29)
Translation adjustments and gains (losses)
from intra-entity transactions of a long-term
investment nature (net of tax impact of
$4 million) (143) (1) (144) (1)
Reclassification of translation adjustments into
income 22
Pension and post-retirement benefit plans (net
of tax impact of $69 million) (113) (113)
Comprehensive Income (loss) 795 (30)
Dividends declared (691) (4) (695)
Repurchase of shares of Common Stock (11) (95) (725) (820)
Employee stock option and SARs exercises
(includes tax impact of $37 million) 2 33 33
Compensation-related events (includes tax
impact of $5 million) 62 62
Balance at December 27, 2014 434 $ — $ 1,737 $ (190) $ 57 $ 1,604 $ 9
See accompanying Notes to Consolidated Financial Statements.
42 YUM! BRANDS, INC. - 2014 Form 10-K
Form 10-K