YUM! Brands Inc. (YUM) | Statement of Cash Flows
The cash flow statement provides information about a company's cash receipts and cash payments during an accounting period, showing how these cash flaws link the ending cash balance to the beginning balance shown on the company's statement of financial position.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
YUM! Brands Inc., Consolidated Statement of Cash Flows
USD $ in millions
| 12 months ended | Dec 29, 2012 | Dec 31, 2011 | Dec 25, 2010 | Dec 26, 2009 | Dec 27, 2008 | |
|---|---|---|---|---|---|---|
| Net income, including noncontrolling interest | 1,608 | 1,335 | 1,178 | 1,083 | 972 | |
| Depreciation and amortization | 645 | 628 | 589 | 580 | 556 | |
| Closures and impairment (income) expenses | 37 | 135 | 47 | 103 | 43 | |
| Refranchising (gain) loss | (78) | 72 | 63 | (26) | (5) | |
| Contributions to defined benefit pension plans | (119) | (63) | (52) | (280) | (66) | |
| YUM Retirement Plan settlement charge | 84 | – | – | – | – | |
| Gain upon consolidation of a former unconsolidated affiliate in China | (74) | – | – | (68) | – | |
| Gain on sale of interest in Japan unconsolidated affiliate | – | – | – | – | (100) | |
| Deferred income taxes | 28 | (137) | (110) | 72 | 1 | |
| Equity income from investments in unconsolidated affiliates | (47) | (47) | (42) | (36) | (41) | |
| Distributions of income received from unconsolidated affiliates | 41 | 39 | 34 | 31 | 41 | |
| Excess tax benefit from share-based compensation | (98) | (66) | (69) | (59) | (44) | |
| Share-based compensation expense | 50 | 59 | 47 | 56 | 59 | |
| Changes in accounts and notes receivable | (18) | (39) | (12) | 3 | (6) | |
| Changes in inventories | 9 | (75) | (68) | 27 | (8) | |
| Changes in prepaid expenses and other current assets | (14) | (25) | 61 | (7) | 4 | |
| Changes in accounts payable and other current liabilities | 9 | 144 | 61 | (62) | 18 | |
| Changes in income taxes payable | 126 | 109 | 104 | (95) | 39 | |
| Changes in operating capital | 112 | 114 | 146 | (134) | 47 | |
| Other, net | 105 | 101 | 137 | 82 | 58 | |
| Net cash provided by operating activities | 2,294 | 2,170 | 1,968 | 1,404 | 1,521 | |
| Capital spending | (1,099) | (940) | (796) | (797) | (935) | |
| Proceeds from refranchising of restaurants | 364 | 246 | 265 | 194 | 266 | |
| Acquisitions | (543) | (81) | (62) | (139) | (35) | |
| Changes in restricted cash | 300 | (300) | – | – | – | |
| Other, net | (27) | 69 | 14 | 15 | 63 | |
| Net cash used in investing activities | (1,005) | (1,006) | (579) | (727) | (641) | |
| Proceeds from long-term debt | – | 404 | 350 | 499 | 375 | |
| Repayments of long-term debt | (282) | (666) | (29) | (528) | (268) | |
| Revolving credit facilities, three months or less, net | – | – | (5) | (295) | 279 | |
| Short-term borrowings by original maturity more than three months, proceeds | – | – | – | – | – | |
| Short-term borrowings by original maturity more than three months, payments | – | – | – | – | – | |
| Short-term borrowings by original maturity three months or less, net | – | – | (3) | (8) | (11) | |
| Repurchase shares of common stock | (965) | (752) | (371) | – | (1,628) | |
| Excess tax benefit from share-based compensation | 98 | 66 | 69 | 59 | 44 | |
| Employee stock option proceeds | 62 | 59 | 102 | 113 | 72 | |
| Dividends paid on common stock | (544) | (481) | (412) | (362) | (322) | |
| Other, net | (85) | (43) | (38) | (20) | – | |
| Net cash used in financing activities | (1,716) | (1,413) | (337) | (542) | (1,459) | |
| Effect of exchange rates on cash and cash equivalents | 5 | 21 | 21 | (15) | (11) | |
| Net increase (decrease) in cash and cash equivalents | (422) | (228) | 1,073 | 120 | (590) | |
| Change in cash and cash equivalents due to consolidation of an entity in China | – | – | – | 17 | 17 | |
| Cash and cash equivalents, beginning of year | 1,198 | 1,426 | 353 | 216 | 789 | |
| Cash and cash equivalents, end of year | 776 | 1,198 | 1,426 | 353 | 216 |
| Item | Description | The company |
|---|---|---|
| Net cash provided by operating activities | The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. | YUM! Brands Inc.'s net cash provided by operating activities increased from 2010 to 2011 and from 2011 to 2012. |
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