(in millions, except for unit and share data) 1998 1997

% change
better (worse)


number of stores:
franchised and licensed
20,246 18,505 9
company 9,517 11,207 (15)

system

 

29,763 29,712 --

system sales
(excluding non-core businesses, rounded)

$20,600 $20,500 1
company revenues 8,468 9,685 (13)
ongoing operating profit 768 672 14
facility actions net gain (loss)(a) 275 (247) NM
unusual charges (b) (15) (184) NM

operating profit

 

1,028 241 NM
net income (loss) 445 (111) NM
basic earnings
per common share
(c)
2.92 N/A
diluted earnings
per common share
(c)
2.84 N/A
cash flows provided by:
   operating activities 674 810 (17)
   refranchising proceeds

784

770

2

NM -- not meaningful
(a) Included in 1998 was $54 million ($33 million after-tax) related to favorable adjustments to our 1997 fourth quarter charge. Included in 1997 was $410 million ($300 million after-tax) related to our 1997 fourth quarter charge. See Note 4 to the Consolidated Financial Statements.
(b) Included in 1998 was $11 million ($7 million after-tax) related to favorable adjustments to our 1997 fourth quarter charge. Included in 1997 was $120 million ($125 million after-tax) related to our 1997 fourth quarter charge and an additional $54 million ($34 million after-tax) writedown of our Non-core Businesses.
See Note 4 to the Consolidated Financial Statements.
(c) Reported loss per share information for 1997 has been omitted as our capital structure as an independent, publicly owned company did not exist.