Exhibit 12.1 YUM! Brands, Inc. Ratio of Earnings to Fixed Charges Years Ended 2012 - 2008 (In millions except ratio amounts)
		52 Weeks				53 Weeks				52 Weeks
		2012				2011				2010				2009				2008
Earnings:
Pretax income from continuing operations before cumulative effect of accounting changes		$	2,145			$	1,659			$	1,594			$	1,396			$	1,291
50% or less owned Affiliates' interests, net		(6		)		(8		)		(7		)		(1		)		(1		)
Interest Expense		181				203				212				229				273
Interest portion of net rent expense		341				314				298				276				258
Earnings available for fixed charges		$	2,661			$	2,168			$	2,097			$	1,900			$	1,821
Fixed Charges:
Interest Expense		$	182			$	204			$	213			$	230			$	273
Interest portion of net rent expense		341				314				298				276				258
Total fixed charges		$	523			$	518			$	511			$	506			$	531
Ratio of earnings to fixed charges		5.09				4.19				4.10				3.75				3.43