

	2012
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total
Revenues:
Company sales	$	2,344	$	2,762	$	3,142	$	3,585	$	11,833
Franchise and license fees and income	399		406		427		568		1,800
Total revenues	2,743		3,168		3,569		4,153		13,633
Restaurant profit	440		423		599		519		1,981
Operating Profit^(a)	645		473		671		505		2,294
Net Income – YUM! Brands, Inc.	458		331		471		337		1,597
Basic earnings per common share	0.99		0.71		1.02		0.74		3.46
Diluted earnings per common share	0.96		0.69		1.00		0.72		3.38
Dividends declared per common share	0.285		0.285		—		0.67		1.24



	2011
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total
Revenues:
Company sales	$	2,051	$	2,431	$	2,854	$	3,557	$	10,893
Franchise and license fees and income	374		385		420		554		1,733
Total revenues	2,425		2,816		3,274		4,111		12,626
Restaurant profit	360		386		494		513		1,753
Operating Profit^(b)	401		419		488		507		1,815
Net Income – YUM! Brands, Inc.	264		316		383		356		1,319
Basic earnings per common share	0.56		0.67		0.82		0.77		2.81
Diluted earnings per common share	0.54		0.65		0.80		0.75		2.74
Dividends declared per common share	—		0.50		—		0.57		1.07

(a)

Includes a non-cash gain recognized upon acquisition of Little Sheep of $74 million in the first quarter, refranchising losses associated with the Pizza Hut UK dine-in business of $24 million and $46 million in the first and fourth quarters, respectively, net U.S. refranchising gains of $45 million and $69 million in the first and fourth quarters, respectively and the YUM Retirement Plan settlement charge of $84 million in the fourth quarter. See Note 4 for further discussion.


(b)	Includes losses related to the LJS and A&W divestitures of $68 million and $17 million in the first and third quarters, respectively and a refranchising loss associated with the Pizza Hut UK dine-in business of $76 million in the third quarter. The fourth quarter of 2011 also includes the $25 million impact of the 53^rd week in 2011. See Note 4 for further discussion.