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 | % | |||||||||