Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
YUM! Brands Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity
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).
- Accounts payable
- The proportion of accounts payable relative to total liabilities and equity remained relatively stable from 2011 through 2015, fluctuating slightly around 7.6% to 8.3%. This indicates a consistent level of short-term obligations to suppliers over the period.
- Accrued capital expenditures
- This item showed minor variability, initially rising from 2.59% in 2011 to 3.00% in 2014 but declining to 2.15% in 2015, suggesting a reduction in accrued expenses related to capital investments in the final year.
- Accrued compensation and benefits
- There was an overall increase in accrued compensation and benefits, from 4.98% in 2011 to 5.76% in 2015, with slight fluctuations in intermediate years. This upward trend reflects growing obligations related to employee compensation.
- Dividends payable
- The ratio of dividends payable steadily increased year-over-year from 1.48% to 2.44%, indicating a rising commitment to shareholder distributions relative to total claims on resources.
- Accrued taxes, other than income taxes
- This category maintained a fairly stable range, fluctuating narrowly between 1.07% and 1.44%, showing no significant shifts in tax-related liabilities other than income taxes.
- Other current liabilities
- Other current liabilities grew notably over the period, from 2.83% to 5.16%, more than doubling, which might reflect increased miscellaneous short-term obligations.
- Accounts payable and other current liabilities (aggregate)
- A gradual increase in total current liabilities was observed, rising from 21.21% in 2011 to 24.58% in 2015, reinforcing the trend of growing current obligations.
- Income taxes payable
- Income taxes payable showed inconsistent behavior, starting at 1.61% in 2011, dropping sharply to 0.92% by 2014, and remaining low at 0.95% in 2015, indicating volatility in payable income tax liabilities.
- Short-term borrowings
- This component experienced a significant increase, starting at 3.62% in 2011, almost disappearing at 0.11% in 2012, before escalating sharply to 11.43% by 2015, suggesting a marked increase in short-term debt financing in the latter years.
- Advertising cooperative liabilities
- The level of advertising cooperative liabilities remained relatively stable, with minor fluctuations between 1.10% and 1.51%, indicating consistent obligations associated with cooperative advertising arrangements.
- Current liabilities (total)
- Total current liabilities declined initially from 27.73% in 2011 to 24.28% in 2012, then generally increased to a peak of 38.24% in 2015, demonstrating a growing share of short-term liabilities in the company's capital structure.
- Long-term debt
- Long-term debt as a percentage of total claims increased steadily from 33.93% to 37.82% over the five years, evidencing a gradual rise in long-term leverage.
- Other liabilities and deferred credits
- There was a notable decrease in other liabilities and deferred credits, dropping from 16.65% in 2011 to 11.86% in 2015, indicating reduced obligations in this category.
- Noncurrent liabilities
- Noncurrent liabilities remained fairly stable as a proportion of total liabilities and equity, fluctuating slightly but holding around 50%, demonstrating consistent long-term credit exposure.
- Total liabilities
- Total liabilities moved from 78.31% in 2011 down to 73.92% in 2013, then climbed steadily to 87.93% in 2015, highlighting an increased reliance on liabilities relative to equity in the capital structure.
- Redeemable noncontrolling interest
- This item was minimal throughout, decreasing from 0.65% in 2012 to 0.07% in 2015, indicating a declining presence of redeemable noncontrolling interests.
- Common stock, no par value
- Reported only in 2011 at 0.2%, with no presence in subsequent years, implying possible reclassification or changes in equity reporting.
- Retained earnings
- Retained earnings decreased consistently from 23.23% in 2011 to 14.24% in 2015, suggesting either distributions to shareholders outpacing net income or accumulated losses.
- Accumulated other comprehensive income (loss)
- This component showed volatility and an overall negative trend, with values moving from -2.80% in 2011 to -2.96% in 2015, including a brief positive value in 2013, indicating fluctuations in other comprehensive income elements.
- Shareholders’ equity, YUM! Brands, Inc.
- Equity attributable to YUM! Brands decreased markedly from 20.64% in 2011 to 11.28% in 2015, reflecting the declining retained earnings and comprehensive income impacts noted, suggesting reduced net asset cushion for shareholders.
- Noncontrolling interests
- Noncontrolling interests remained low and relatively unchanged, around 0.7% to 1.1%, indicating a small minority interest component within total equity.
- Total shareholders’ equity
- Total shareholders’ equity peaked at 25.64% in 2013 before declining sharply to 12.0% in 2015. This trend reflects an overall decrease in equity relative to total claims, which aligns with the corresponding increase in liabilities over the same period.
- Total liabilities, redeemable noncontrolling interest and shareholders’ equity
- The total always sums to 100%, serving as the base for percentage comparisons.
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