| Quarterly Financial Information |
Selected Quarterly Financial Data (Unaudited)
| | | | | | | | | | | | | | | | | | | | | | | | 2013 | | | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter | | Total | Revenues: | | | | | | | | | | | Company sales | | $ | 2,099 |
| | $ | 2,474 |
| | $ | 3,021 |
| | $ | 3,590 |
| | $ | 11,184 |
| Franchise and license fees and income | | 436 |
| | 430 |
| | 445 |
| | 589 |
| | 1,900 |
| Total revenues | | 2,535 |
| | 2,904 |
| | 3,466 |
| | 4,179 |
| | 13,084 |
| Restaurant profit | | 333 |
| | 310 |
| | 531 |
| | 509 |
| | 1,683 |
| Operating Profit(a) | | 487 |
| | 390 |
| | 350 |
| | 571 |
| | 1,798 |
| Net Income – YUM! Brands, Inc.(c) | | 337 |
| | 281 |
| | 152 |
| | 321 |
| | 1,091 |
| Basic earnings per common share | | 0.74 |
| | 0.62 |
| | 0.34 |
| | 0.72 |
| | 2.41 |
| Diluted earnings per common share | | 0.72 |
| | 0.61 |
| | 0.33 |
| | 0.70 |
| | 2.36 |
| Dividends declared per common share | | 0.335 |
| | 0.335 |
| | — |
| | 0.74 |
| | 1.41 |
|
| | | | | | | | | | | | | | | | | | | | | | | | 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(b) | | 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 |
|
| | (a) | Includes a non-cash charge of $295 million in the third quarter related primarily to the impairment of Little Sheep intangible assets and net U.S. refranchising gains of $17 million, $28 million, $37 million and $9 million in the first, second, third and fourth quarters, respectively. See Note 4 for further discussion. |
| | (b) | 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 a pension settlement charge of $84 million in the fourth quarter. See Note 4 for further discussion. |
| | (c) | Includes an after-tax charge of $75 million in the fourth quarter related to the repurchase of Senior Unsecured Notes. See Note 4 for further discussion. |
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