YUM BRANDS INC - FORM 8-K - EX-99.2 - EXHIBIT 99.2

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8-K - YUM BRANDS, INC. FORM 8-K - YUM BRANDS INC	a8k42016.htm
EX-99.1 - EXHIBIT 99.1 - YUM BRANDS INC	a8kex99142016.htm

YUM! Brands, Inc.

Recast Annual Segment Operating Results

(amounts in millions)

(unaudited)



Year Ended 12/26/15	China			KFC			Pizza Hut			Taco Bell			Corporate and Unallocated			Consolidated
Company sales	$	6,789		$	2,203		$	609		$	1,544		$	—		$	11,145
Franchise and license fees and income	120			850			543			447			—			1,960
Total revenues	6,909			3,053			1,152			1,991			—			13,105

Company restaurant expenses
Food and paper	2,159			757			169			422			—			3,507
Payroll and employee benefits	1,386			513			190			428			—			2,517
Occupancy and other operating expenses	2,167			625			191			352			—			3,335
Company restaurant expenses	5,712			1,895			550			1,202			—			9,359

General and administrative expenses	397			401			272			230			204			1,504
Franchise and license expenses	20			89			40			22			71			242
Closures and impairment (income) expenses	64			9			3			3			—			79
Refranchising (gain) loss	—			—			—			—			10			10
Other (income) expense	(41		)	(2		)	(2		)	(2		)	37			(10		)
Total costs and expenses, net	6,152			2,392			863			1,455			322			11,184

Operating Profit (loss)	$	757		$	661		$	289		$	536		$	(322	)	$	1,921



Year Ended 12/27/14	China			KFC		Pizza Hut		Taco Bell			Corporate and Unallocated			Consolidated
Company sales	$	6,821		$	2,440	$	609	$	1,454		$	—		$	11,324
Franchise and license fees and income	113			881		550		411			—			1,955
Total revenues	6,934			3,321		1,159		1,865			—			13,279

Company restaurant expenses
Food and paper	2,207			858		181		432			—			3,678
Payroll and employee benefits	1,407			568		189		414			1			2,579
Occupancy and other operating expenses	2,198			703		190		334			—			3,425
Company restaurant expenses	5,812			2,129		560		1,180			1			9,682

General and administrative expenses	391			399		253		187			189			1,419
Franchise and license expenses	16			80		46		18			—			160
Closures and impairment (income) expenses	54			10		5		3			463			535
Refranchising (gain) loss	—			—		—		—			(33		)	(33		)
Other (income) expense	(52		)	1		1		(1		)	10			(41		)
Total costs and expenses, net	6,221			2,619		865		1,387			630			11,722

Operating Profit (loss)	$	713		$	702	$	294	$	478		$	(630	)	$	1,557

Effective January 2016, the Company’s India business integrated its three restaurant brands into our global KFC, Pizza Hut and Taco Bell Divisions. The above tables represent recasted annual segment operating results due to this reorganization. The China division and Corporate and Unallocated amounts were not impacted by this reorganization.

YUM! Brands, Inc.

Recast Quarterly Segment Operating Results

(amounts in millions)

(unaudited)



Quarter Ended 3/21/15	China			KFC		Pizza Hut			Taco Bell		Corporate and Unallocated			Consolidated
Company sales	$	1,235		$	464	$	144		$	336	$	—		$	2,179
Franchise and license fees and income	21			198		128			96		—			443
Total revenues	1,256			662		272			432		—			2,622

Company restaurant expenses
Food and paper	392			161		40			95		—			688
Payroll and employee benefits	244			107		44			98		—			493
Occupancy and other operating expenses	366			129		43			78		—			616
Company restaurant expenses	1,002			397		127			271		—			1,797

General and administrative expenses	68			82		57			44		44			295
Franchise and license expenses	4			17		9			2		2			34
Closures and impairment (income) expenses	2			—		—			1		—			3
Refranchising (gain) loss	—			—		—			—		(10		)	(10		)
Other (income) expense	(10		)	—		(2		)	—		9			(3		)
Total costs and expenses, net	1,066			496		191			318		45			2,116

Operating Profit (loss)	$	190		$	166	$	81		$	114	$	(45	)	$	506



Quarter Ended 6/13/15	China			KFC			Pizza Hut		Taco Bell			Corporate and Unallocated			Consolidated
Company sales	$	1,608		$	535		$	145	$	371		$	—		$	2,659
Franchise and license fees and income	28			191			121		106			—			446
Total revenues	1,636			726			266		477			—			3,105

Company restaurant expenses
Food and paper	515			183			40		103			—			841
Payroll and employee benefits	333			123			45		101			—			602
Occupancy and other operating expenses	526			151			46		82			—			805
Company restaurant expenses	1,374			457			131		286			—			2,248

General and administrative expenses	100			97			63		47			46			353
Franchise and license expenses	5			21			9		4			8			47
Closures and impairment (income) expenses	17			3			3		1			—			24
Refranchising (gain) loss	—			—			—		—			68			68
Other (income) expense	(4		)	(1		)	—		(1		)	—			(6		)
Total costs and expenses, net	1,492			577			206		337			122			2,734

Operating Profit (loss)	$	144		$	149		$	60	$	140		$	(122	)	$	371

YUM! Brands, Inc.

Recast Quarterly Segment Operating Results

(amounts in millions)

(unaudited)



Quarter Ended 9/5/15	China			KFC		Pizza Hut			Taco Bell		Corporate and Unallocated			Consolidated
Company sales	$	1,935		$	526	$	141		$	366	$	—		$	2,968
Franchise and license fees and income	34			195		123			107		—			459
Total revenues	1,969			721		264			473		—			3,427

Company restaurant expenses
Food and paper	611			182		40			100		—			933
Payroll and employee benefits	356			124		44			101		—			625
Occupancy and other operating expenses	589			152		46			84		—			871
Company restaurant expenses	1,556			458		130			285		—			2,429

General and administrative expenses	90			96		60			50		32			328
Franchise and license expenses	6			23		10			5		21			65
Closures and impairment (income) expenses	3			—		(1		)	1		—			3
Refranchising (gain) loss	—			—		—			—		2			2
Other (income) expense	(13		)	—		—			—		10			(3		)
Total costs and expenses, net	1,642			577		199			341		65			2,824

Operating Profit (loss)	$	327		$	144	$	65		$	132	$	(65	)	$	603



Quarter Ended 12/26/15	China			KFC			Pizza Hut		Taco Bell			Corporate and Unallocated			Consolidated
Company sales	$	2,011		$	678		$	179	$	471		$	—		$	3,339
Franchise and license fees and income	37			266			171		138			—			612
Total revenues	2,048			944			350		609						3,951

Company restaurant expenses
Food and paper	641			231			49		124			—			1,045
Payroll and employee benefits	453			159			57		128			—			797
Occupancy and other operating expenses	686			193			56		108			—			1,043
Company restaurant expenses	1,780			583			162		360			—			2,885

General and administrative expenses	139			126			92		89			82			528
Franchise and license expenses	5			28			12		11			40			96
Closures and impairment (income) expenses	42			6			1		—			—			49
Refranchising (gain) loss	—			—			—		—			(50		)	(50		)
Other (income) expense	(14		)	(1		)	—		(1		)	18			2
Total costs and expenses, net	1,952			742			267		459			90			3,510

Operating Profit (loss)	$	96		$	202		$	83	$	150		$	(90	)	$	441

YUM! Brands, Inc.

Recast Annual Division System Sales Growth

(unaudited)



Year Ended 12/26/15	China			KFC			Pizza Hut			Taco Bell		Worldwide
System sales, reported	—		%	(4	)	%	(2	)	%	8	%	(1	)	%
System sales, excluding FX	2		%	6		%	2		%	8	%	5		%
Same store sales growth (decline)	(4	)	%	3		%	—		%	5	%	1		%



Year Ended 12/27/14	China			KFC		Pizza Hut			Taco Bell		Worldwide
System sales, reported	1		%	2	%	—		%	4	%	2	%
System sales, excluding FX	1		%	6	%	1		%	4	%	3	%
Same store sales growth (decline)	(5	)	%	3	%	(1	)	%	3	%	—	%



YUM! Brands, Inc.
Recast Quarterly Division System Sales Growth
(unaudited)


Quarter Ended 3/21/15	China			KFC			Pizza Hut			Taco Bell		Worldwide
System sales, reported	(9	)	%	1		%	(1	)	%	9	%	—		%
System sales, excluding FX	(6	)	%	8		%	2		%	9	%	4		%
Same store sales growth (decline)	(12	)	%	4		%	—		%	6	%	—		%


Quarter Ended 6/13/15	China			KFC			Pizza Hut			Taco Bell		Worldwide
System sales, reported	(4	)	%	(4	)	%	(3	)	%	9	%	(2	)	%
System sales, excluding FX	(4	)	%	6		%	2		%	9	%	3		%
Same store sales growth (decline)	(10	)	%	2		%	—		%	6	%	—		%


Quarter Ended 9/5/15	China			KFC			Pizza Hut			Taco Bell		Worldwide
System sales, reported	7		%	(6	)	%	(3	)	%	7	%	—		%
System sales, excluding FX	8		%	6		%	2		%	7	%	6		%
Same store sales growth (decline)	2		%	3		%	1		%	4	%	2		%


Quarter Ended 12/26/15	China			KFC			Pizza Hut			Taco Bell		Worldwide
System sales, reported	3		%	(6	)	%	(3	)	%	7	%	(1	)	%
System sales, excluding FX	7		%	6		%	2		%	7	%	6		%
Same store sales growth (decline)	2		%	2		%	1		%	4	%	2		%

YUM BRANDS INC - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - April 20, 2016

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YUM BRANDS INC Reports