Stock Analysis on Net
Stock Analysis on Net

YUM! Brands Inc. (NYSE:YUM)

$22.49

This company has been moved to the archive! The financial data has not been updated since October 11, 2016.

Analysis of Income Taxes

Microsoft Excel

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Income Tax Expense (Benefit)

YUM! Brands Inc., income tax expense (benefit), continuing operations

US$ in millions

Microsoft Excel
12 months ended: Dec 26, 2015 Dec 27, 2014 Dec 28, 2013 Dec 29, 2012 Dec 31, 2011
Federal
Foreign
State
Current
Federal
Foreign
State
Deferred
Income tax provision

Based on: 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31).

Effective Income Tax Rate (EITR)

YUM! Brands Inc., effective income tax rate (EITR) reconciliation

Microsoft Excel
Dec 26, 2015 Dec 27, 2014 Dec 28, 2013 Dec 29, 2012 Dec 31, 2011
U.S. federal statutory tax rate
State income tax, net of federal tax benefit
Statutory rate differential attributable to foreign operations
Adjustments to reserves and prior years
Net benefit from LJS and A&W divestitures
Change in valuation allowances
Other, net
Effective income tax rate

Based on: 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31).

Components of Deferred Tax Assets and Liabilities

YUM! Brands Inc., components of deferred tax assets and liabilities

US$ in millions

Microsoft Excel
Dec 26, 2015 Dec 27, 2014 Dec 28, 2013 Dec 29, 2012 Dec 31, 2011
Operating losses
Tax credit carryforwards
Employee benefits
Share-based compensation
Self-insured casualty claims
Lease-related liabilities
Various liabilities
Property, plant and equipment
Deferred income and other
Gross deferred tax assets
Deferred tax asset valuation allowances
Net deferred tax assets
Intangible assets, including goodwill
Property, plant and equipment
Other
Gross deferred tax liabilities
Net deferred tax assets (liabilities)

Based on: 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31).

Deferred Tax Assets and Liabilities, Classification

YUM! Brands Inc., deferred tax assets and liabilities, classification

US$ in millions

Microsoft Excel
Dec 26, 2015 Dec 27, 2014 Dec 28, 2013 Dec 29, 2012 Dec 31, 2011
Deferred income tax assets, current
Deferred income tax assets, long-term
Deferred income tax liabilities, current (included in Accounts payable and other current liabilities)
Deferred income tax liabilities, long-term (included in Other liabilities and deferred credits)

Based on: 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31).

Adjustments to Financial Statements: Removal of Deferred Taxes

YUM! Brands Inc., adjustments to financial statements

US$ in millions

Microsoft Excel
Dec 26, 2015 Dec 27, 2014 Dec 28, 2013 Dec 29, 2012 Dec 31, 2011
Adjustment to Current Assets
Current assets (as reported)
Less: Current deferred tax assets, net
Current assets (adjusted)
Adjustment to Total Assets
Total assets (as reported)
Less: Current deferred tax assets, net
Less: Noncurrent deferred tax assets, net
Total assets (adjusted)
Adjustment to Current Liabilities
Current liabilities (as reported)
Less: Current deferred tax liabilities, net
Current liabilities (adjusted)
Adjustment to Total Liabilities
Total liabilities (as reported)
Less: Current deferred tax liabilities, net
Less: Noncurrent deferred tax liabilities, net
Total liabilities (adjusted)
Adjustment to Shareholders’ Equity, YUM! Brands, Inc.
Shareholders’ equity, YUM! Brands, Inc. (as reported)
Less: Net deferred tax assets (liabilities)
Shareholders’ equity, YUM! Brands, Inc. (adjusted)
Adjustment to Net Income, YUM! Brands, Inc.
Net income, YUM! Brands, Inc. (as reported)
Add: Deferred income tax expense (benefit)
Net income, YUM! Brands, Inc. (adjusted)

Based on: 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31).

YUM! Brands Inc., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)

YUM! Brands Inc., adjusted financial ratios

Microsoft Excel
Dec 26, 2015 Dec 27, 2014 Dec 28, 2013 Dec 29, 2012 Dec 31, 2011
Current Ratio
Reported current ratio
Adjusted current ratio
Net Profit Margin
Reported net profit margin
Adjusted net profit margin
Total Asset Turnover
Reported total asset turnover
Adjusted total asset turnover
Financial Leverage
Reported financial leverage
Adjusted financial leverage
Return on Equity (ROE)
Reported ROE
Adjusted ROE
Return on Assets (ROA)
Reported ROA
Adjusted ROA

Based on: 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31).

YUM! Brands Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Current Ratio

Microsoft Excel
Dec 26, 2015 Dec 27, 2014 Dec 28, 2013 Dec 29, 2012 Dec 31, 2011
As Reported
Selected Financial Data (US$ in millions)
Current assets
Current liabilities
Liquidity Ratio
Current ratio1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted current assets
Adjusted current liabilities
Liquidity Ratio
Adjusted current ratio2

Based on: 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31).

2015 Calculations

1 Current ratio = Current assets ÷ Current liabilities
= ÷ =

2 Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= ÷ =

Adjusted Net Profit Margin

Microsoft Excel
Dec 26, 2015 Dec 27, 2014 Dec 28, 2013 Dec 29, 2012 Dec 31, 2011
As Reported
Selected Financial Data (US$ in millions)
Net income, YUM! Brands, Inc.
Revenues
Profitability Ratio
Net profit margin1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income, YUM! Brands, Inc.
Revenues
Profitability Ratio
Adjusted net profit margin2

Based on: 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31).

2015 Calculations

1 Net profit margin = 100 × Net income, YUM! Brands, Inc. ÷ Revenues
= 100 × ÷ =

2 Adjusted net profit margin = 100 × Adjusted net income, YUM! Brands, Inc. ÷ Revenues
= 100 × ÷ =

Adjusted Total Asset Turnover

Microsoft Excel
Dec 26, 2015 Dec 27, 2014 Dec 28, 2013 Dec 29, 2012 Dec 31, 2011
As Reported
Selected Financial Data (US$ in millions)
Revenues
Total assets
Activity Ratio
Total asset turnover1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Revenues
Adjusted total assets
Activity Ratio
Adjusted total asset turnover2

Based on: 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31).

2015 Calculations

1 Total asset turnover = Revenues ÷ Total assets
= ÷ =

2 Adjusted total asset turnover = Revenues ÷ Adjusted total assets
= ÷ =

Adjusted Financial Leverage

Microsoft Excel
Dec 26, 2015 Dec 27, 2014 Dec 28, 2013 Dec 29, 2012 Dec 31, 2011
As Reported
Selected Financial Data (US$ in millions)
Total assets
Shareholders’ equity, YUM! Brands, Inc.
Solvency Ratio
Financial leverage1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted total assets
Adjusted shareholders’ equity, YUM! Brands, Inc.
Solvency Ratio
Adjusted financial leverage2

Based on: 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31).

2015 Calculations

1 Financial leverage = Total assets ÷ Shareholders’ equity, YUM! Brands, Inc.
= ÷ =

2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted shareholders’ equity, YUM! Brands, Inc.
= ÷ =

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 26, 2015 Dec 27, 2014 Dec 28, 2013 Dec 29, 2012 Dec 31, 2011
As Reported
Selected Financial Data (US$ in millions)
Net income, YUM! Brands, Inc.
Shareholders’ equity, YUM! Brands, Inc.
Profitability Ratio
ROE1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income, YUM! Brands, Inc.
Adjusted shareholders’ equity, YUM! Brands, Inc.
Profitability Ratio
Adjusted ROE2

Based on: 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31).

2015 Calculations

1 ROE = 100 × Net income, YUM! Brands, Inc. ÷ Shareholders’ equity, YUM! Brands, Inc.
= 100 × ÷ =

2 Adjusted ROE = 100 × Adjusted net income, YUM! Brands, Inc. ÷ Adjusted shareholders’ equity, YUM! Brands, Inc.
= 100 × ÷ =

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 26, 2015 Dec 27, 2014 Dec 28, 2013 Dec 29, 2012 Dec 31, 2011
As Reported
Selected Financial Data (US$ in millions)
Net income, YUM! Brands, Inc.
Total assets
Profitability Ratio
ROA1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income, YUM! Brands, Inc.
Adjusted total assets
Profitability Ratio
Adjusted ROA2

Based on: 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31).

2015 Calculations

1 ROA = 100 × Net income, YUM! Brands, Inc. ÷ Total assets
= 100 × ÷ =

2 Adjusted ROA = 100 × Adjusted net income, YUM! Brands, Inc. ÷ Adjusted total assets
= 100 × ÷ =