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Share-based and Deferred Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2020

Compensation Related Costs [Abstract]

Weighted-average assumptions used in the Black-Scholes option-pricing model

We estimated the fair value of each stock option and SAR award as of the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:

						2020						2019						2018
Risk-free interest rate						1.0		%				2.5		%				2.5		%
Expected term						5.8 years						6.5 years						6.5 years
Expected volatility						24.0		%				22.0		%				22.0		%
Expected dividend yield						1.9		%				1.8		%				1.8		%

Summary of award activity

Stock Options and SARs

						Shares (in thousands)												Weighted-Average Exercise Price						Weighted- Average Remaining Contractual Term (years)						Aggregate Intrinsic Value (in millions)
Outstanding at the beginning of the year						14,864												$	60.76
Granted						4,358												101.42
Exercised						(3,137)												44.41
Forfeited or expired						(523)												88.29
Outstanding at the end of the year						15,562			(a)									74.52						6.39						$	530
Exercisable at the end of the year						10,108												$	65.64					5.43						$	434

(a)Outstanding awards include 601 options and 14,960 SARs with weighted average exercise prices of $66.89 and $74.83, respectively. Outstanding awards represent YUM awards held by employees of both YUM and Yum China.

^[1]

Impact on net income

The components of share-based compensation expense and the related income tax benefits are shown in the following table:

						2020						2019						2018
Options and SARs						$	75					$	39					$	37
Restricted Stock Units						20						12						6
Performance Share Units						2						8						7
Total Share-based Compensation Expense						$	97					$	59					$	50
Deferred Tax Benefit recognized						$	18					$	9					$	9
EID compensation expense not share-based						$	9					$	17					$	(2)

[1] Outstanding awards include 601 options and 14,960 SARs with weighted average exercise prices of $66.89 and $74.83, respectively. Outstanding awards represent YUM awards held by employees of both YUM and Yum China.

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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock options and stock appreciation rights that were outstanding at the beginning and end of the year, exercisable at the end of the year, and the number of stock options and stock appreciation rights that were granted, exercised or converted, forfeited, and expired during the year.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

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