百胜餐饮集团YUM! Brands, Inc. (YUM) 2011年年度报告「NYSE」.pdf

1、Financial Highlights (In millions,except for per share amounts)Year-end 2011 2010%B/(W)changeCompany sales$10,893$9,783 11 Franchise and license fees and income 1,733 1,560 11 Total revenues$12,626$11,343 11 Operating Profit$1,815$1,769 3 Net Income Yum!Brands,Inc.$1,319$1,158 14 Diluted Earnings Pe

2、r Common Share before Special Items(a)$2.87$2.53 14Special Items Earnings Per Common Share(a)(0.13)(0.15)NMReported Diluted Earnings Per Common Share$2.74$2.38 15 Cash Flows Provided by Operating Activities$2,170$1,968 10(a)See page 23 of our 2011 Form 10-K for further discussion of Special Items.Co

3、ntentsDear Partners.1China and A Whole Lot More.25Improving US Brand Positions.6-7Core Strategies.8Business Model.9 Taking People With You.10ABOUT THE PAPER USED FOR THIS REPORT The inks used in the printing of this report contain an average of 25%-35%vegetable oils from plant derivatives,a renewabl

4、e resource.They replace petroleum based inks as an effort to also reduce volatile organic compounds(VOCs).The cover and first 14 pages of this report were printed using FSC-certified paper made with 50%recycled content including 24%post-consumer of DirectorsDavid C.Novak 59 Chairman,Chief Executive

5、Officer and President,Yum!Brands,Inc.Jing-Shyh S.(“Sam”)Su 59 Vice Chairman,Yum!Brands,Inc.Chairman and Chief Executive Officer,Yum!Restaurants ChinaDavid W.Dorman 58 Non-Executive Chairman,CVS Caremark CorporationMassimo Ferragamo 54 Chairman,Ferragamo USA,Inc.,a subsidiary of Salvatore Ferragamo I

6、taliaMirian M.Graddick-Weir 57 Executive Vice President Human Resources Merck&Co.,Inc.J.David Grissom 73 Chairman,Mayfair Capital,Inc.and Chairman,The Glenview Trust CompanyBonnie G.Hill 70 President,B.Hill Enterprises,LLCRobert Holland,Jr.71 Managing Director and Advisory Board Member,Essex Lake Gr