Yum! Financial Data
Earnings
Annual Reports
Statements of Income
Balance Sheets
Statements of Cash Flow
Historic Sales
Share Buyback/Debt Outstanding
Restaurant Counts
Additional Financial Information
Safe Harbor Statement
Consolidated Statements of Cash Flows
YUM! Brands, Inc. and Subsidiaries
Fiscal years ended December 29, 2012, December 31, 2011, and December 25, 2010
(in millions)
| Cash Flows – Operating Activities | 2012 | 2011 | 2010 |
| Net Income - including noncontrolling interest | $ 1,608 | $ 1,335 | $ 1,178 |
| Depreciation and amortization | 645 | 628 | 589 |
| Closures and impairment (income) expenses | 37 | 135 | 47 |
| Refranchising (gain) loss | (78) | 72 | 63 |
| Contribution to defined benefit pension plans | (119) | (63) | (52) |
| Yum! retirement plan settlement change | 84 | – | – |
| Gain upon consolidation of a former unconsolidated affiliate in China | (74) | – | – |
| Deferred income taxes | 28 | (137) | (110) |
| Equity income from investments in unconsolidated affiliates | (47) | (47) | (42) |
| Distributions of income received from unconsolidated affiliates | 41 | 39 | 34 |
| Excess tax benefit from share-based compensation | (98) | (66) | (69) |
| Share-based compensation expense | 50 | 59 | 47 |
| Changes in accounts and notes receivable | (18) | (39) | (12) |
| Changes in inventories | 9 | (75) | (68) |
| Changes in prepaid expenses and other current assets | (14) | (25) | 61 |
| Changes in accounts payable and other current liabilities | 9 | 144 | 61 |
| Changes in income taxes payable | 126 | 109 | 104 |
| Other, net | 105 | 101 | 137 |
| Net Cash Provided by Operating Activities | 2,294 | 2,170 | 1,968 |
| Cash Flows Investing Activities | |||
| Capital Spending | (1,099) | (940) | (796) |
| Proceeds from refranchising of restaurants | 364 | 246 | 265 |
| Acquisition | (543) | (81) | (62) |
| Changes in resticted cash | 300 | (300) | - |
| Other, net | (27) | 69 | 14 |
| Net Cash Used In Investing Activities | (1,005) | (1,006) | (579) |
| Cash Flows Financing Activities | |||
| Proceeds from long-term debt | – | 404 | 350 |
| Repayments of long-term debt | (282) | (666) | (29) |
| Revolving credit facilities, three months or less, net | – | – | (5) |
| Short-term borrowings by original maturity: | |||
| More than three months - proceeds | – | – | – |
| More than three months - payments | – | – | – |
| Three months or less, net | – | – | (3) |
| Repurchase shares of Common Stock | (965) | (752) | (371) |
| Excess tax benefit from share–based compensation | 98 | 66 | 69 |
| Employee stock option proceeds | 62 | 59 | 102 |
| Dividends paid on Common Stock | (544) | (481) | (412) |
| Other, net | (85) | (43) | (38) |
| Net Cash Used in Financing Activities | (1,716) | (1,413) | (337) |
| Effect of Exchange Rates on Cash and Cash Equivalents | 5 | 21 | 21 |
| Net Increase (Decrease) in Cash and Cash Equivalents | (422) | (228) | 1,073 |
| Cash and Cash Equivalents Beginning of Year | 1,198 | 1,426 | 353 |
| Cash and Cash Equivalents End of Year | 776 | 1,198 | 1,426 |
Note: You should consult our filings with the Securities and Exchange Commission for additional detail about our financial and other results.



