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Share-based and Deferred Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2024
Compensation Related Costs [Abstract]  
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 year10,104  $92.58   
Granted988  130.33   
Exercised(2,975)82.61   
Forfeited or expired(387)127.09   
Outstanding at the end of the year7,730 
(a)
99.53 6.26$268 
Exercisable at the end of the year5,689  $89.78 5.23$252 

(a)Outstanding awards include 235 options and 7,495 SARs with weighted average exercise prices of $112.29 and $99.13, respectively. Outstanding awards represent YUM awards held by employees of both YUM and Yum China.
Impact on net income
The components of share-based compensation expense and the related income tax benefits are shown in the following table:

 202420232022
Options and SARs$23 $27 $26 
Restricted Stock Units36 35 27 
Performance Share Units10 33 29 
Total Share-based Compensation Expense$69 $95 $82 

Deferred Tax Benefit recognized$20 $12 $16 
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
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:

 202420232022
Risk-free interest rate4.0 %3.6 %1.7 %
Expected term5.9 years5.9 years6.6 years
Expected volatility20.6 %22.0 %25.0 %
Expected dividend yield2.1 %1.8 %1.9 %