Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

YUM! Brands Inc., consolidated income statement

US$ in millions

12 months ended:	Dec 26, 2015	Dec 27, 2014	Dec 28, 2013	Dec 29, 2012	Dec 31, 2011
Company sales	11,145)	11,324)	11,184)	11,833)	10,893)
Franchise and license fees and income	1,960)	1,955)	1,900)	1,800)	1,733)
Revenues	13,105)	13,279)	13,084)	13,633)	12,626)
Food and paper	(3,507)	(3,678)	(3,669)	(3,874)	(3,633)
Payroll and employee benefits	(2,517)	(2,579)	(2,499)	(2,620)	(2,418)
Occupancy and other operating expenses	(3,335)	(3,425)	(3,333)	(3,358)	(3,089)
Company restaurant expenses	(9,359)	(9,682)	(9,501)	(9,852)	(9,140)
General and administrative expenses	(1,504)	(1,419)	(1,412)	(1,510)	(1,372)
Franchise and license expenses	(242)	(160)	(158)	(133)	(145)
Closures and impairment expenses	(79)	(535)	(331)	(37)	(135)
Refranchising gain (loss)	(10)	33)	100)	78)	(72)
Equity income from investments in unconsolidated affiliates	41)	30)	26)	47)	47)
Gain upon acquisition of Little Sheep	—)	—)	—)	74)	—)
China poultry supply insurance recovery	5)	25)	—)	—)	—)
Loss associated with planned sale of aircraft	(15)	—)	—)	—)	—)
Foreign exchange net gain (loss) and other	(21)	(14)	(10)	(6)	6)
Other income (expense)	10)	41)	16)	115)	53)
Costs and expenses, net	(11,184)	(11,722)	(11,286)	(11,339)	(10,811)
Operating profit	1,921)	1,557)	1,798)	2,294)	1,815)
Interest expense	(155)	(152)	(270)	(169)	(184)
Interest income	21)	22)	23)	20)	28)
Interest expense, net	(134)	(130)	(247)	(149)	(156)
Income before income taxes	1,787)	1,427)	1,551)	2,145)	1,659)
Income tax provision	(489)	(406)	(487)	(537)	(324)
Net income, including noncontrolling interests	1,298)	1,021)	1,064)	1,608)	1,335)
Net (income) loss, noncontrolling interests	(5)	30)	27)	(11)	(16)
Net income, YUM! Brands, Inc.	1,293)	1,051)	1,091)	1,597)	1,319)

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).

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Income statement item	Description	The company
Revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	YUM! Brands Inc. revenues increased from 2013 to 2014 but then slightly decreased from 2014 to 2015 not reaching 2013 level.
Operating profit	The net result for the period of deducting operating expenses from operating revenues.	YUM! Brands Inc. operating profit decreased from 2013 to 2014 but then increased from 2014 to 2015 exceeding 2013 level.
Income before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	YUM! Brands Inc. income before income taxes decreased from 2013 to 2014 but then increased from 2014 to 2015 exceeding 2013 level.
Net income, YUM! Brands, Inc.	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	YUM! Brands Inc. net income, YUM! Brands, Inc. decreased from 2013 to 2014 but then increased from 2014 to 2015 exceeding 2013 level.

YUM! Brands Inc. (NYSE:YUM)

Income Statement