Name: YUM! Brands Inc. (NYSE:YUM) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

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Current Assets: Selected Items

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YUM! Brands Inc., consolidated balance sheet: assets

US$ in millions

	Dec 26, 2015	Dec 27, 2014	Dec 28, 2013	Dec 29, 2012	Dec 31, 2011
Cash and cash equivalents	737)	578)	573)	776)	1,198)
Accounts and notes receivable, net	377)	325)	319)	301)	286)
Inventories	229)	301)	294)	313)	273)
Income tax receivable	41)	55)	89)	55)	150)
Assets held for sale	28)	14)	16)	56)	24)
Other prepaid expenses and current assets	173)	185)	181)	161)	164)
Prepaid expenses and other current assets	242)	254)	286)	272)	338)
Deferred income taxes	—)	93)	123)	111)	112)
Advertising cooperative assets, restricted	103)	95)	96)	136)	114)
Current assets	1,688)	1,646)	1,691)	1,909)	2,321)
Property, plant and equipment, net	4,189)	4,498)	4,459)	4,250)	4,042)
Goodwill	656)	700)	889)	1,034)	681)
Intangible assets, net	271)	318)	638)	690)	299)
Investments in unconsolidated affiliates	61)	52)	53)	72)	167)
Restricted cash	—)	—)	—)	—)	300)
Other assets	534)	560)	566)	575)	475)
Deferred income taxes	676)	571)	399)	481)	549)
Noncurrent assets	6,387)	6,699)	7,004)	7,102)	6,513)
Total assets	8,075)	8,345)	8,695)	9,011)	8,834)

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).

Total assets exhibited a gradual decline over the analyzed period, peaking at 9,011 million US$ in 2012 before decreasing to 8,075 million US$ by December 31, 2015. This overall contraction is attributed to reductions in both current and noncurrent asset categories.

Liquidity and Current Assets: Current assets decreased from 2,321 million US$ in 2011 to 1,688 million US$ in 2015. This downward trend was primarily driven by a significant reduction in cash and cash equivalents, which fell from 1,198 million US$ in 2011 to 737 million US$ in 2015, reaching a low point between 2013 and 2014. In contrast, accounts and notes receivable showed a consistent upward trajectory, growing from 286 million US$ to 377 million US$ over the five-year period. Inventories remained relatively stable, though a notable decrease occurred in 2015, dropping to 229 million US$.
Long-term Infrastructure and Intangibles: Noncurrent assets fluctuated, reaching a peak of 7,102 million US$ in 2012 before settling at 6,387 million US$ in 2015. Property, plant, and equipment, net, grew steadily from 4,042 million US$ in 2011 to a peak of 4,498 million US$ in 2014, followed by a decline to 4,189 million US$ in 2015. A significant spike in goodwill and intangible assets was observed in 2012, with goodwill rising to 1,034 million US$ and intangible assets reaching 690 million US$, both of which declined progressively in the subsequent years.
Deferred Taxes and Other Assets: A divergent trend is observed in deferred income taxes. While current deferred income taxes showed a general decline and missing data by 2015, noncurrent deferred income taxes increased from 549 million US$ in 2011 to 676 million US$ in 2015. Investments in unconsolidated affiliates saw a marked reduction, falling from 167 million US$ in 2011 to 61 million US$ in 2015.

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