Exhibit 12.1
YUM! Brands Inc.
Ratio of Earnings to Fixed Charges Years Ended 2013 - 2008
(In millions except ratio amounts)
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12 Weeks |
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52 Weeks |
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53 Weeks |
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52 Weeks |
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2013 |
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2012 |
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2011 |
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2010 |
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2009 |
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2008 |
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Earnings: |
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Pretax income from continuing operations before cumulative effect of accounting changes |
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$ |
456 |
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$ |
2,145 |
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$ |
1,659 |
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$ |
1,594 |
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$ |
1,396 |
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$ |
1,291 |
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50% or less owned Affiliates’ interests, net |
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(6 |
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(6 |
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(8 |
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(7 |
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(1 |
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(1 |
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Interest Expense |
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35 |
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181 |
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203 |
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212 |
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229 |
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273 |
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Interest portion of net rent expense |
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83 |
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341 |
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314 |
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298 |
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276 |
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258 |
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Earnings available for fixed charges |
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$ |
568 |
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$ |
2,661 |
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$ |
2,168 |
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$ |
2,097 |
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$ |
1,900 |
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$ |
1,821 |
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Fixed Charges: |
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Interest Expense |
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$ |
36 |
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$ |
182 |
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$ |
204 |
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$ |
213 |
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$ |
230 |
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$ |
273 |
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Interest portion of net rent expense |
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83 |
|
341 |
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314 |
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298 |
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276 |
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258 |
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Total fixed charges |
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$ |
119 |
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$ |
523 |
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$ |
518 |
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$ |
511 |
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$ |
506 |
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$ |
531 |
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Ratio of earnings to fixed charges |
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4.77 |
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5.09 |
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4.19 |
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4.10 |
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3.75 |
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3.43 |
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