Exhibit 99.1
Segment Results
The tables below present reportable segment results, net of intersegment eliminations, as recast (unaudited, in millions):
Americas
2012 | 2011 | 2010 | ||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Full Year | Full Year | Full Year | ||||||||||||||
Net revenues: | ||||||||||||||||||||
Company-operated stores | 2,356.2 | 2,170.2 | 2,256.6 | 2,294.2 | 9,077.0 | 8,365.5 | 7,865.8 | |||||||||||||
Licensed stores | 216.4 | 198.9 | 208.3 | 202.2 | 825.8 | 676.7 | 598.3 | |||||||||||||
CPG, foodservice and other | 6.0 | 5.6 | 6.3 | 15.3 | 33.2 | 22.8 | 24.4 | |||||||||||||
Total net revenues | 2,578.6 | 2,374.7 | 2,471.2 | 2,511.7 | 9,936.0 | 9,065.0 | 8,488.5 | |||||||||||||
Cost of sales including occupancy costs | 1,006.7 | 941.6 | 965.1 | 972.0 | 3,885.5 | 3,512.7 | 3,258.5 | |||||||||||||
Store operating expenses | 874.8 | 837.4 | 858.1 | 857.6 | 3,427.8 | 3,184.2 | 3,083.3 | |||||||||||||
Other operating expenses | 20.5 | 18.7 | 20.2 | 24.4 | 83.8 | 75.8 | 63.1 | |||||||||||||
Depreciation and amortization expenses | 97.1 | 97.2 | 97.2 | 100.9 | 392.4 | 391.4 | 394.2 | |||||||||||||
General and administrative expenses | 30.6 | 32.4 | 31.9 | 33.2 | 128.2 | 127.3 | 132.4 | |||||||||||||
Restructuring charges | — | — | — | — | — | — | 28.4 | |||||||||||||
Total operating expenses | 2,029.7 | 1,927.3 | 1,972.5 | 1,988.1 | 7,917.7 | 7,291.4 | 6,959.9 | |||||||||||||
Gain on sale of properties | — | — | — | — | — | — | — | |||||||||||||
Income from equity investees | — | 2.1 | — | — | 2.1 | 1.6 | 0.9 | |||||||||||||
Operating income | 548.9 | 449.5 | 498.7 | 523.6 | 2,020.4 | 1,775.2 | 1,529.5 |
EMEA
2012 | 2011 | 2010 | ||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Full Year | Full Year | Full Year | ||||||||||||||
Net revenues: | ||||||||||||||||||||
Company-operated stores | 264.3 | 233.5 | 237.1 | 233.2 | 968.3 | 905.5 | 844.9 | |||||||||||||
Licensed stores | 31.2 | 31.1 | 36.8 | 40.4 | 139.5 | 112.2 | 81.7 | |||||||||||||
CPG, foodservice and other | 7.5 | 7.8 | 8.1 | 10.1 | 33.5 | 29.1 | 26.8 | |||||||||||||
Total net revenues | 303.0 | 272.4 | 282.0 | 283.7 | 1,141.3 | 1,046.8 | 953.4 | |||||||||||||
Cost of sales including occupancy costs | 150.4 | 143.9 | 149.8 | 153.2 | 597.3 | 530.3 | 471.8 | |||||||||||||
Store operating expenses | 93.8 | 91.9 | 88.2 | 97.1 | 371.1 | 327.3 | 324.5 | |||||||||||||
Other operating expenses | 8.6 | 8.9 | 8.4 | 7.6 | 33.6 | 36.5 | 36.1 | |||||||||||||
Depreciation and amortization expenses | 14.2 | 14.3 | 14.4 | 14.2 | 57.1 | 53.4 | 50.6 | |||||||||||||
General and administrative expenses | 17.4 | 20.4 | 19.6 | 18.3 | 75.7 | 66.4 | 60.9 | |||||||||||||
Restructuring charges | — | — | — | — | — | — | 24.5 | |||||||||||||
Total operating expenses | 284.4 | 279.4 | 280.4 | 290.4 | 1,134.8 | 1,013.9 | 968.4 | |||||||||||||
Gain on sale of properties | — | — | — | — | — | — | — | |||||||||||||
Income from equity investees | 0.3 | — | — | — | 0.3 | 6.0 | 6.8 | |||||||||||||
Operating income/(loss) | 18.9 | (7.0 | ) | 1.6 | (6.7 | ) | 6.8 | 38.9 | (8.2 | ) |
China and Asia Pacific
2012 | 2011 | 2010 | ||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Full Year | Full Year | Full Year | ||||||||||||||
Net revenues: | ||||||||||||||||||||
Company-operated stores | 111.3 | 117.5 | 121.9 | 138.5 | 489.2 | 361.4 | 252.8 | |||||||||||||
Licensed stores | 55.6 | 57.1 | 59.9 | 59.5 | 232.2 | 190.9 | 154.5 | |||||||||||||
CPG, foodservice and other | — | — | — | — | — | — | — | |||||||||||||
Total net revenues | 166.9 | 174.6 | 181.8 | 198.0 | 721.4 | 552.3 | 407.3 | |||||||||||||
Cost of sales including occupancy costs | 84.5 | 86.8 | 91.5 | 100.1 | 362.8 | 282.0 | 213.4 | |||||||||||||
Store operating expenses | 27.1 | 27.2 | 29.7 | 35.2 | 119.2 | 83.4 | 64.1 | |||||||||||||
Other operating expenses | 11.4 | 9.7 | 11.3 | 14.6 | 47.0 | 35.7 | 30.0 | |||||||||||||
Depreciation and amortization expenses | 5.0 | 5.6 | 5.8 | 6.7 | 23.2 | 18.1 | 15.8 | |||||||||||||
General and administrative expenses | 9.2 | 10.0 | 12.3 | 7.6 | 39.0 | 34.7 | 31.0 | |||||||||||||
Restructuring charges | — | — | — | — | — | — | 0.1 | |||||||||||||
Total operating expenses | 137.2 | 139.3 | 150.6 | 164.2 | 591.2 | 453.9 | 354.4 | |||||||||||||
Gain on sale of properties | — | — | — | — | — | — | — | |||||||||||||
Income from equity investees | 27.6 | 32.9 | 30.1 | 31.8 | 122.4 | 92.9 | 73.1 | |||||||||||||
Operating income | 57.3 | 68.2 | 61.3 | 65.6 | 252.6 | 191.3 | 126.0 |
Channel Development
2012 | 2011 | 2010 | ||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Full Year | Full Year | Full Year | ||||||||||||||
Net revenues: | ||||||||||||||||||||
CPG | 247.1 | 237.4 | 232.6 | 235.0 | 952.1 | 553.2 | 425.6 | |||||||||||||
Foodservice | 88.7 | 84.1 | 83.8 | 83.5 | 340.1 | 307.3 | 281.8 | |||||||||||||
Total net revenues | 335.8 | 321.5 | 316.4 | 318.5 | 1,292.2 | 860.5 | 707.4 | |||||||||||||
Cost of sales | 220.6 | 204.7 | 201.1 | 201.2 | 827.6 | 487.5 | 383.2 | |||||||||||||
Other operating expenses | 50.1 | 49.3 | 47.8 | 43.8 | 191.1 | 151.8 | 115.6 | |||||||||||||
Depreciation and amortization expenses | 0.4 | 0.3 | 0.3 | 0.3 | 1.3 | 2.4 | 3.7 | |||||||||||||
General and administrative expenses | 3.8 | 4.9 | 4.2 | 4.1 | 17.0 | 10.9 | 6.8 | |||||||||||||
Restructuring charges | — | — | — | — | — | — | — | |||||||||||||
Total operating expenses | 274.9 | 259.2 | 253.4 | 249.4 | 1,037.0 | 652.6 | 509.3 | |||||||||||||
Gain on sale of properties | — | — | — | — | — | — | — | |||||||||||||
Income from equity investees | 17.0 | 17.2 | 21.2 | 29.8 | 85.2 | 75.6 | 70.6 | |||||||||||||
Operating income | 77.9 | 79.5 | 84.2 | 98.9 | 340.4 | 283.5 | 268.7 |
Other
2012 | 2011 | 2010 | ||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Full Year | Full Year | Full Year | ||||||||||||||
Net revenues: | ||||||||||||||||||||
Licensed stores | 3.4 | 3.2 | 3.2 | 3.2 | 12.8 | 27.7 | 40.7 | |||||||||||||
CPG, foodservice and other | 48.2 | 49.5 | 49.0 | 49.1 | 195.8 | 148.1 | 110.1 | |||||||||||||
Total net revenues | 51.6 | 52.7 | 52.2 | 52.3 | 208.6 | 175.8 | 150.8 | |||||||||||||
Cost of sales | 33.9 | 34.9 | 38.6 | 32.7 | 140.1 | 103.0 | 89.6 | |||||||||||||
Other operating expenses | 16.1 | 18.7 | 18.2 | 21.5 | 74.4 | 93.0 | 34.9 | |||||||||||||
Depreciation and amortization expenses | 18.1 | 19.7 | 19.0 | 19.6 | 76.3 | 58.0 | 46.1 | |||||||||||||
General and administrative expenses | 130.5 | 139.2 | 131.0 | 140.6 | 541.3 | 510.0 | 473.5 | |||||||||||||
Restructuring charges | — | — | — | — | — | — | — | |||||||||||||
Total operating expenses | 198.6 | 212.5 | 206.8 | 214.4 | 832.1 | 764.0 | 644.1 | |||||||||||||
Gain on sale of properties | — | — | — | — | — | 30.2 | — | |||||||||||||
Income from equity investees | — | — | 0.4 | 0.3 | 0.7 | (2.4 | ) | (3.3 | ) | |||||||||||
Operating loss | (147.0 | ) | (159.8 | ) | (154.2 | ) | (161.8 | ) | (622.8 | ) | (560.4 | ) | (496.6 | ) |