Pizza Hut 2015 Annual Report Download - page 143
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YUM! BRANDS, INC.-2015 Form10-K 35
Form 10-K
PART II
ITEM 8Financial Statements and Supplementary Data
Consolidated Statements of Income
YUM! BRANDS, INC. AND SUBSIDIARIES
FISCAL YEARS ENDED DECEMBER 26, 2015, DECEMBER 27, 2014 AND DECEMBER 28, 2013
(in millions, except per share data)
2015 2014 2013
Revenues
Company sales $ 11,145 $ 11,324 $ 11,184
Franchise and license fees and income 1,960 1,955 1,900
Total revenues 13,105 13,279 13,084
Costs and Expenses, Net
Company restaurants
Food and paper 3,507 3,678 3,669
Payroll and employee benefits 2,517 2,579 2,499
Occupancy and other operating expenses 3,335 3,425 3,333
Company restaurant expenses 9,359 9,682 9,501
General and administrative expenses 1,504 1,419 1,412
Franchise and license expenses 242 160 158
Closures and impairment (income) expenses 79 535 331
Refranchising (gain) loss 10 (33) (100)
Other (income) expense (10) (41) (16)
Total costs and expenses, net 11,184 11,722 11,286
Operating Profit 1,921 1,557 1,798
Interest expense, net 134 130 247
Income Before Income Taxes 1,787 1,427 1,551
Income tax provision 489 406 487
Net Income – including noncontrolling interests 1,298 1,021 1,064
Net Income (loss) – noncontrolling interests 5 (30) (27)
Net Income – YUM! Brands, Inc. $ 1,293 $ 1,051 $ 1,091
Basic Earnings per Common Share $ 2.97 $ 2.37 $ 2.41
Diluted Earnings per Common Share $ 2.92 $ 2.32 $ 2.36
Dividends Declared per Common Share $ 1.74 $ 1.56 $ 1.41
See accompanying Notes to Consolidated Financial Statements.