{"id":809704,"date":"2025-02-06T07:04:57","date_gmt":"2025-02-06T12:04:57","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/yum-brands-reports-fourth-quarter-and-full-year-results\/"},"modified":"2025-02-06T07:04:57","modified_gmt":"2025-02-06T12:04:57","slug":"yum-brands-reports-fourth-quarter-and-full-year-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/yum-brands-reports-fourth-quarter-and-full-year-results\/","title":{"rendered":"Yum! Brands Reports Fourth-Quarter and Full-Year Results"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwblockalignc { margin-left: auto; margin-right: auto }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwleftsingle { border-left: solid black 1pt }\n.bwlistcircle { list-style-type: circle }\n.bwlistdisc { list-style-type: disc }\n.bwnowrap { white-space: nowrap }\n.bwpadb3 { padding-bottom: 4px }\n.bwpadl0 { padding-left: 0px }\n.bwpadl1 { padding-left: 5px }\n.bwpadr0 { padding-right: 0px }\n.bwrightsingle { border-right: solid black 1pt }\n.bwrowaltcolor1 { background-color: #d3d3d3 }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwtopsingle { border-top: solid black 1pt }\n.bwuline { text-decoration: underline }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignm { vertical-align: middle }\n.bwvertalignt { vertical-align: top }\n.bwwidth100 { width: 100% }\n.bwwidth12 { width: 12% }\n.bwwidth16 { width: 16% }\n.bwwidth18 { width: 18% }\n.bwwidth20 { width: 20% }\n.bwwidth24 { width: 24% }\n.bwwidth28 { width: 28% }\n.bwwidth33 { width: 33% }\n.bwwidth34 { width: 34% }\n.bwwidth80 { width: 80% }\n.bwwidth9 { width: 9% }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Yum! Brands Reports Fourth-Quarter and Full-Year Results<\/b><\/p>\n<p class=\"bwalignc\"><i>Fourth-Quarter Same-Store Sales Growth at Taco Bell of 5%; KFC International Unit Growth of 8%<\/i><\/p>\n<p class=\"bwalignc\"><i>F<\/i><i>ull-Year GAAP Operating Profit of 4% and Core Operating Profit Growth Excluding 53rd Week of 8%<\/i><\/p>\n<p>LOUISVILLE, Ky.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nYum! Brands, Inc. (NYSE: YUM) today reported results for the fourth quarter and year ended December 31, 2024. Fourth-quarter GAAP EPS was $1.49 and EPS excluding Special Items was $1.61. Full-year GAAP EPS was $5.22 and EPS excluding Special Items was $5.48, an increase of 6%.<\/p>\n<p id=\"news-body-cta\">This press release features multimedia. View the full release here: <a href=\"https:\/\/www.businesswire.com\/news\/home\/20250205909067\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250205909067\/en\/<\/a><\/p>\n<p><b><span class=\"bwuline\">DAVID GIBBS &amp; CHRIS TURNER COMMENTS<\/span><\/b><\/p>\n<p>\nDavid Gibbs, CEO, said \u201c2024 was marked with exceptional core operating profit growth given the complex consumer environment. 2024 again demonstrates the resilience of our business model and the agility of our world-class teams. Our twin growth engines remain strong with Taco Bell U.S. delivering same-store sales growth of 5% in the fourth quarter, meaningfully outpacing the industry, and KFC International delivering its second consecutive year with over 2,000 net new units. Our advantaged brand position, together with our industry-leading talent, franchisees, and technology, position us for another excellent year in 2025.\u201d<\/p>\n<p>\nChris Turner, CFO, said \u201cIn 2024, we opened 4,535 new stores across more than 100 countries. Our digital progress this year was similarly enviable, with digital sales up approximately 15% and digital mix surpassing 50%, reflecting steady progress towards our ambition to reach 100% digital sales. Today, we are excited to announce Byte by Yum!, our proprietary Software as a Service digital ecosystem. Launching our integrated and comprehensive suite required standardization of our processes and consolidation of teams, which we accomplished as part of last year\u2019s endeavors to remove duplicative efforts, establish centers of excellence, and drive greater efficiency and collaboration across the organization. I\u2019m confident the changes we\u2019ve made and investments we\u2019re making position us to be stronger and more agile. For those reasons and more, we expect 2025 to be another on-algorithm year for Core Operating Profit growth.&#8221;<\/p>\n<p><b><span class=\"bwuline\">RECENT STRATEGIC ANNOUNCEMENTS<\/span><\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nToday, we announced <b><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.yum.com%2Fwps%2Fportal%2Fyumbrands%2FYumbrands%2Fnews%2Fpress-releases%2Fintroducing%2Bbyte%2Bby%2Byum%2Ban%2Bai%2Bdriven%2Brestaurant%2Btechnology%2Bplatform%2Bpowering%2Bcustomer%2Band%2Bteam%2Bmember%2Bexperiences%2Bworldwide&amp;esheet=54200342&amp;newsitemid=20250205909067&amp;lan=en-US&amp;anchor=Byte+by+Yum%21&amp;index=1&amp;md5=f67e6289cad3907bf7769a40b7ea8369\">Byte by Yum!<\/a><\/b>, a comprehensive collection of proprietary Software as a Service (SaaS) AI-driven products that deliver integrated and seamless technologies for our restaurants. Byte by Yum! enables easy operations for team members and consumers, while consolidating essential systems into a cohesive, easy-to-manage platform. Byte by Yum! is Yum!\u2019s owned platform of integrated industry-leading restaurant technology, powered by AI, that includes mobile app and web ordering, point of sale, kitchen and delivery optimization, menu management, inventory and labor management, and team member tools. Currently, 25,000 Yum! restaurants across the world are using at least one Byte by Yum! product.<\/p>\n<\/li>\n<li>\nIn January, Yum! Brands announced the promotion of <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.yum.com%2Fwps%2Fportal%2Fyumbrands%2FYumbrands%2Fnews%2Fpress-releases%2Fscott%2Bmezvinsky%2Bpromoted%2Bto%2Bkfc%2Bdivision%2Bceo%252C%2Beffective%2Bmarch%2B1%252C%2B2025&amp;esheet=54200342&amp;newsitemid=20250205909067&amp;lan=en-US&amp;anchor=Scott+Mezvinsky+to+KFC+Division+Chief+Executive+Officer&amp;index=2&amp;md5=64888d3ebcbcd5b7044e77d5d1b50f47\"><b>Scott Mezvinsky to KFC Division Chief Executive Officer<\/b><\/a>, effective March 1, 2025. Scott is currently President of Taco Bell North America and International.<\/p>\n<\/li>\n<li>\nIn December, we opened our first test locations of new and innovative concepts. We opened <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kfc.com%2Fnewsroom%2Fkfc-saucy-a-bold-new-restaurant&amp;esheet=54200342&amp;newsitemid=20250205909067&amp;lan=en-US&amp;anchor=Saucy+by+KFC&amp;index=3&amp;md5=15d450b67f0c4e7b7350aaaff03f1bee\"><b>Saucy by KFC<\/b><\/a>, a flavor-forward dining destination offering chicken tender lovers the chance to customize their meal with 11 irresistible sauces. Always made hot, fresh and crispy, Saucy\u2019s tenders pair perfectly with sweet, spicy, savory and smoky global flavors, all complemented by an 11-beverage lineup that includes a variety of teas, freezes and refreshers. Taco Bell opened Live M\u00e1s Cafe, a new beverage concept where Bellristas provide exceptional flavor and hospitality in a cozy, inviting atmosphere, all while maintaining the great value customers love. Additionally, in December, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fblog.pizzahut.com%2Fpizza-hut-pilots-new-restaurant-design-in-plano-texas%2F&amp;esheet=54200342&amp;newsitemid=20250205909067&amp;lan=en-US&amp;anchor=Pizza+Hut+unveiled+a+test+of+a+new+restaurant+design&amp;index=4&amp;md5=7bb2862847e233a18bf0ba5d771e42b1\"><b>Pizza Hut unveiled a test of a new restaurant design<\/b><\/a>, with self-service kiosks, a guest-facing pizza-making station, and a drive-thru with a \u201cHut \u2018N Go\u2122\u201d menu for quick orders.<\/p>\n<\/li>\n<\/ul>\n<p><b><span class=\"bwuline\">SUMMARY FINANCIAL TABLE<\/span><\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwtopsingle bwleftsingle bwrightsingle bwpadl0 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"3\" class=\"bwvertalignb bwtopsingle bwsinglebottom bwrightsingle bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Fourth-Quarter<\/b><\/p>\n<\/td>\n<td colspan=\"3\" class=\"bwvertalignb bwtopsingle bwsinglebottom bwrightsingle bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Full-Year<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwrightsingle bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2024<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2023<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwrightsingle bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>% Change<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2024<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2023<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>% Change<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nGAAP EPS<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$1.49<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$1.62<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwrightsingle bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(8)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$5.22<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$5.59<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0 bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(7)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSpecial Items EPS<sup>1<\/sup><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$(0.12)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.36<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwrightsingle bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\nNM<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$(0.26)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$0.42<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\nNM<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nEPS Excluding Special Items<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$1.61<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$1.26<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwrightsingle bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+28<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$5.48<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$5.17<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+6<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>1 <\/sup>See reconciliation of Non-GAAP Measurements to GAAP Results in our Consolidated Summary of Results for further detail of Special Items.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAll comparisons are versus the same period a year ago. Our fourth-quarter and full-year 2024 results include an extra week (&#8220;53rd week&#8221;) for business units operating on a weekly periodic calendar. All results presented herein include this 53rd week unless otherwise noted.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSystem sales growth figures exclude foreign currency translation (&#8220;F\/X&#8221;) and core operating profit growth figures exclude F\/X and Special Items. Special Items are not allocated to any segment and therefore only impact worldwide GAAP results. See reconciliation of Non-GAAP Measurements to GAAP Results in our Consolidated Summary of Results for further details.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDigital system sales includes all transactions where consumers at system restaurants utilize ordering interaction that is primarily facilitated by automated technology.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b><span class=\"bwuline\">FOURTH-QUARTER HIGHLIGHTS<\/span><\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nWorldwide system sales grew 8% excluding foreign currency translation, with KFC at 6%, Taco Bell at 14%, and Pizza Hut at 3%.<\/p>\n<\/li>\n<li>\nWe opened 1,804 gross units leading to 5% year-over-year unit growth excluding the 120 unit divestiture in the second quarter related to stores under the Jeno&#8217;s Pizza and Telepizza brands.<\/p>\n<\/li>\n<li>\nStrong digital system sales exceeding $9 billion with digital mix over 50%.<\/p>\n<\/li>\n<\/ul>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwtopsingle bwleftsingle bwrightsingle bwpadl0 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"5\" class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>% Change<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwrightsingle bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignm bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>System Sales<\/b><\/p>\n<p class=\"bwalignc bwcellpmargin\"><b>Ex F\/X<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignm bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Same-Store Sales<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignm bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Units<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignm bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>GAAP<\/b><\/p>\n<p class=\"bwalignc bwcellpmargin\"><b>Operating Profit<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwvertalignm bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Core<\/b><\/p>\n<p class=\"bwalignc bwcellpmargin\"><b>Operating Profit<sup>1<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nKFC Division<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nEven<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+7<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+14<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+15<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTaco Bell Division<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+14<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+19<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+19<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nPizza Hut Division<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(1)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(4)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(3)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nWorldwide<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+8<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+8<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+17<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignc bwwidth80\">\n<tr>\n<td class=\"bwvertalignb bwtopsingle bwleftsingle bwrightsingle bwpadl0 bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Results Excluding 53rd Week % Change<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwrightsingle bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>System Sales<\/b><\/p>\n<p class=\"bwalignc bwcellpmargin\"><b>Ex F\/X<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Core<\/b><\/p>\n<p class=\"bwalignc bwcellpmargin\"><b>Operating Profit<sup>1<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nKFC Division<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwalignc bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+12<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTaco Bell Division<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+8<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwalignc bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+12<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nPizza Hut Division<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignc bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nEven<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(7)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nWorldwide<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignc bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+12<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b><span class=\"bwuline\">FULL-YEAR HIGHLIGHTS<\/span><\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nWorldwide system sales grew 4% excluding foreign currency translation, with KFC at 3%, Taco Bell at 8%, and Pizza Hut (1)%.<\/p>\n<\/li>\n<li>\nWe opened 4,535 gross units during the year.<\/p>\n<\/li>\n<li>\nForeign currency translation unfavorably impacted divisional operating profit by $28 million.<\/p>\n<\/li>\n<\/ul>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwtopsingle bwleftsingle bwrightsingle bwpadl0 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"5\" class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>% Change<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwrightsingle bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth16 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>System Sales<\/b><\/p>\n<p class=\"bwalignc bwcellpmargin\"><b>Ex F\/X<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth16 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Same-Store Sales<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth16 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Units<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth16 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>GAAP<\/b><\/p>\n<p class=\"bwalignc bwcellpmargin\"><b>Operating Profit<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth16 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Core<\/b><\/p>\n<p class=\"bwalignc bwcellpmargin\"><b>Operating Profit<sup>1<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nKFC Division<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(2)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+7<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+6<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTaco Bell Division<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+8<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+11<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+11<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nPizza Hut Division<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(1)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(4)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(5)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(3)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nWorldwide<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(1)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+9<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignc bwwidth80\">\n<tr>\n<td class=\"bwvertalignb bwtopsingle bwleftsingle bwrightsingle bwpadl0 bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Results Excluding 53rd Week % Change<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwrightsingle bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>System Sales<\/b><\/p>\n<p class=\"bwalignc bwcellpmargin\"><b>Ex F\/X<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Core<\/b><\/p>\n<p class=\"bwalignc bwcellpmargin\"><b>Operating Profit<sup>1<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nKFC Division<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwalignc bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+5<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTaco Bell Division<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwalignc bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+9<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nPizza Hut Division<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(1)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(4)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nWorldwide<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignc bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+8<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>1<\/sup>See reconciliation of Non-GAAP Measurements to GAAP Results in our Consolidated Summary of Results for further detail of Core Operating Profit and Core Operating Profit excluding 53rd week.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b><span class=\"bwuline\">KFC DIVISION<\/span><\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwtopsingle bwleftsingle bwrightsingle bwpadl0 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"4\" class=\"bwvertalignb bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Fourth-Quarter<\/b><\/p>\n<\/td>\n<td colspan=\"4\" class=\"bwvertalignb bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Full-Year<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwrightsingle bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwpadl0 bwrightsingle bwalignc\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>%\/ppts Change<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwrightsingle bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>%\/ppts Change<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwrightsingle bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2024<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2023<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Reported<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwrightsingle bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Ex F\/X<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2024<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2023<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Reported<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Ex F\/X<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwrowaltcolor1 bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nRestaurants<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n31,981<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n29,900<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+7<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrightsingle bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nNA<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n31,981<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n29,900<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+7<\/p>\n<\/td>\n<td class=\"bwrightsingle bwpadl0 bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nNA<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwleftsingle bwrightsingle bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSystem Sales ($MM)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n9,429<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n8,888<\/p>\n<\/td>\n<td class=\"bwpadl0 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+6<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrightsingle bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+6<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n34,452<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n33,863<\/p>\n<\/td>\n<td class=\"bwpadl0 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+2<\/p>\n<\/td>\n<td class=\"bwrightsingle bwpadl0 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+3<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwleftsingle bwrightsingle bwrowaltcolor1 bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSame-Store Sales Growth (%)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nEven<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+2<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\nNM<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrightsingle bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\nNM<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(2)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+7<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\nNM<\/p>\n<\/td>\n<td class=\"bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\nNM<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwleftsingle bwrightsingle bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nFranchise &amp; Property Revenues ($MM)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n466<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n444<\/p>\n<\/td>\n<td class=\"bwpadl0 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+5<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrightsingle bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+5<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n1,685<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n1,698<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(1)<\/p>\n<\/td>\n<td class=\"bwrightsingle bwpadl0 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+1<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwrowaltcolor1 bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOperating Profit ($MM)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n377<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n329<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+14<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrightsingle bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+15<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n1,363<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n1,304<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+4<\/p>\n<\/td>\n<td class=\"bwrightsingle bwpadl0 bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+6<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOperating Margin (%)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n39.0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n43.3<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(4.3)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwrightsingle bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(3.8)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n44.0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n46.1<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(2.1)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(1.6)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignc bwwidth80\">\n<tr>\n<td class=\"bwvertalignb bwtopsingle bwleftsingle bwpadl0 bwrowaltcolor1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwrowaltcolor1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Fourth-Quarter (% Change)<\/b><\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwrowaltcolor1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Full-Year (% Change)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>International<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>U.S.<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>International<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>U.S.<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSystem Sales Growth Ex F\/X<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwalignc bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+8<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwalignc bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(1)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwalignc bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwalignc bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(5)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSame-Store Sales Growth<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwalignc bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(5)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(2)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(5)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<ul class=\"bwlistdisc\">\n<li>\nKFC Division opened 1,100 gross new restaurants during the quarter.<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nFor the year, KFC Division opened 2,892 gross new restaurants across 97 countries.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\nFor the quarter, the 53rd week provided a benefit of one percentage point to system sales growth and three percentage points to core operating profit growth. For the year, the 53rd week provided a negligible benefit to system sales growth and a benefit of one percentage point to core operating profit growth.<\/p>\n<\/li>\n<li>\nForeign currency translation unfavorably impacted operating profit by $1 million for the quarter and $22 million for the year.<\/p>\n<\/li>\n<\/ul>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignc bwwidth80\">\n<tr>\n<td rowspan=\"2\" class=\"bwsinglebottom bwleftsingle bwrightsingle bwtopsingle bwrowaltcolor1 bwvertalignm bwpadl1 bwwidth28\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>KFC Markets<sup>1<\/sup><\/b><\/p>\n<\/td>\n<td rowspan=\"2\" class=\"bwsinglebottom bwpadl0 bwtopsingle bwrowaltcolor1 bwvertalignm bwwidth24\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Percent of KFC<\/b><\/p>\n<p class=\"bwalignc bwcellpmargin\"><b>System Sales<sup>2<\/sup><\/b><\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwrowaltcolor1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>System Sales Growth Ex F\/X<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwrowaltcolor1 bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Fourth-Quarter<\/b><\/p>\n<p class=\"bwalignc bwcellpmargin\"><b>(% Change)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwrowaltcolor1 bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Full-Year<\/b><\/p>\n<p class=\"bwalignc bwcellpmargin\"><b>(% Change)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nChina<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n27%<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+6<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nUnited States<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n14%<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(1)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(5)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nEurope (excluding United Kingdom)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n12%<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+10<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+8<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAsia<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n9%<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(5)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLatin America<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n8%<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+13<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+15<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAustralia<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n7%<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+11<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+6<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nUnited Kingdom<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n6%<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(1)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nMiddle East \/ Turkey \/ North Africa<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n6%<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+21<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(2)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAfrica<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n5%<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+14<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+11<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nThailand<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2%<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+6<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCanada<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2%<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+11<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+6<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nIndia<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2%<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+10<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+10<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>1<\/sup>Refer to <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Finvestors.yum.com%2Ffinancial-information%2Ffinancial-reports%2F&amp;esheet=54200342&amp;newsitemid=20250205909067&amp;lan=en-US&amp;anchor=investors.yum.com%2Ffinancial-information%2Ffinancial-reports%2F&amp;index=5&amp;md5=907f0a864fb8c1e62f6594b6d847d891\">investors.yum.com\/financial-information\/financial-reports\/<\/a> for a list of the countries within each of the markets.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>2<\/sup>Reflects Full Year 2024.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b><span class=\"bwuline\">TACO BELL DIVISION<\/span><\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwtopsingle bwleftsingle bwrightsingle bwpadl0 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"4\" class=\"bwvertalignb bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Fourth-Quarter<\/b><\/p>\n<\/td>\n<td colspan=\"4\" class=\"bwvertalignb bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Full-Year<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwrightsingle bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwpadl0 bwrightsingle bwalignc\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>%\/ppts Change<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwrightsingle bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>%\/ppts Change<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwrightsingle bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2024<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2023<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Reported<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwrightsingle bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Ex F\/X<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2024<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2023<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Reported<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Ex F\/X<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwrowaltcolor1 bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nRestaurants<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n8,757<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n8,564<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+2<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrightsingle bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nNA<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n8,757<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n8,564<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+2<\/p>\n<\/td>\n<td class=\"bwrightsingle bwpadl0 bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nNA<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwleftsingle bwrightsingle bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSystem Sales ($MM)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n5,571<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n4,887<\/p>\n<\/td>\n<td class=\"bwpadl0 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+14<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrightsingle bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+14<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n17,193<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n15,915<\/p>\n<\/td>\n<td class=\"bwpadl0 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+8<\/p>\n<\/td>\n<td class=\"bwrightsingle bwpadl0 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+8<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwleftsingle bwrightsingle bwrowaltcolor1 bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSame-Store Sales Growth (%)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+5<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+3<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\nNM<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrightsingle bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\nNM<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+4<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+5<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\nNM<\/p>\n<\/td>\n<td class=\"bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\nNM<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwleftsingle bwrightsingle bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nFranchise &amp; Property Revenues ($MM)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n319<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n281<\/p>\n<\/td>\n<td class=\"bwpadl0 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+13<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrightsingle bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+13<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n997<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n918<\/p>\n<\/td>\n<td class=\"bwpadl0 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+9<\/p>\n<\/td>\n<td class=\"bwrightsingle bwpadl0 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+9<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwrowaltcolor1 bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOperating Profit ($MM)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n340<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n286<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+19<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrightsingle bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+19<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n1,049<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n944<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+11<\/p>\n<\/td>\n<td class=\"bwrightsingle bwpadl0 bwrowaltcolor1 bwalignc bwvertalignb bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+11<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOperating Margin (%)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n36.5<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n34.9<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n1.6<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwrightsingle bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n1.7<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n36.7<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n35.8<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0.9<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0.9<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<ul class=\"bwlistdisc\">\n<li>\nTaco Bell Division opened 186 gross new restaurants during the quarter.<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nFor the year, Taco Bell Division opened 347 gross new restaurants across 25 countries.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\nTaco Bell U.S. system sales grew 14% and Taco Bell International system sales excluding foreign currency grew 10% for the quarter.<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nFor the year, Taco Bell U.S. system sales grew 8% and Taco Bell International system sales excluding foreign currency grew 6%.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\nTaco Bell U.S. same-store sales grew 5% and Taco Bell International same-store sales grew 3% for the quarter.<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nFor the year, Taco Bell U.S. same-store sales grew 4% and Taco Bell International same-store sales were flat.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\nFor the quarter, the 53rd week provided a benefit of six percentage points to system sales growth and seven percentage points to core operating profit growth for the quarter. For the year, the 53rd week provided a benefit of two percentage points to both system sales growth and core operating profit growth.<\/p>\n<\/li>\n<li>\nFor the quarter, company-owned restaurant margins were 25.5%, a 240 basis point increase year-over-year. The 53rd week provided a benefit of 40 basis points to company-owned restaurant margins for the quarter.<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nFor the year, company-owned restaurant margins were 24.4%, a 70 basis point increase year-over-year. The 53rd week provided a benefit of 10 basis points to company-owned restaurant margins for the year.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><b><span class=\"bwuline\">PIZZA HUT DIVISION<\/span><\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwtopsingle bwleftsingle bwrightsingle bwpadl0 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"4\" class=\"bwvertalignb bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Fourth-Quarter<\/b><\/p>\n<\/td>\n<td colspan=\"4\" class=\"bwvertalignb bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Full-Year<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwrightsingle bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwpadl0 bwrightsingle bwalignc\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>%\/ppts Change<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwrightsingle bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>%\/ppts Change<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwrightsingle bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2024<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2023<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Reported<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwrightsingle bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Ex F\/X<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2024<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2023<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Reported<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Ex F\/X<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwrowaltcolor1 bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nRestaurants<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n20,225<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n19,866<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrowaltcolor1 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+2<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrightsingle bwrowaltcolor1 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nNA<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n20,225<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n19,866<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrowaltcolor1 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+2<\/p>\n<\/td>\n<td class=\"bwrightsingle bwpadl0 bwrowaltcolor1 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nNA<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwleftsingle bwrightsingle bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSystem Sales ($MM)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3,617<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3,535<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+2<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrightsingle bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+3<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n13,108<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n13,315<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(2)<\/p>\n<\/td>\n<td class=\"bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(1)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwleftsingle bwrightsingle bwrowaltcolor1 bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSame-Store Sales Growth (%)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(1)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(2)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\nNM<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrightsingle bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\nNM<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(4)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrowaltcolor1 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+2<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\nNM<\/p>\n<\/td>\n<td class=\"bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\nNM<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwleftsingle bwrightsingle bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nFranchise &amp; Property Revenues ($MM)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n176<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n168<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+4<\/p>\n<\/td>\n<td class=\"bwpadl0 bwrightsingle bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+5<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n622<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n622<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nEven<\/p>\n<\/td>\n<td class=\"bwrightsingle bwpadl0 bwvertalignb bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+1<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwrowaltcolor1 bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOperating Profit ($MM)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n95<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n99<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(4)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrightsingle bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(3)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n373<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n391<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(5)<\/p>\n<\/td>\n<td class=\"bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwrowaltcolor1 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(3)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOperating Margin (%)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n32.4<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n35.0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(2.6)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwrightsingle bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(2.4)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n37.0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n38.3<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(1.3)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(0.9)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignc bwwidth80\">\n<tr>\n<td class=\"bwvertalignb bwtopsingle bwleftsingle bwpadl0 bwrowaltcolor1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwrowaltcolor1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Fourth-Quarter (% Change)<\/b><\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwrowaltcolor1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Full-Year (% Change)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwrowaltcolor1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwrowaltcolor1 bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>International<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwrowaltcolor1 bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>U.S.<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwrowaltcolor1 bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>International<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwrowaltcolor1 bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>U.S.<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSystem Sales Growth Ex F\/X<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwalignc bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwalignc bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwalignc bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(1)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwalignc bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nEven<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSame-Store Sales Growth<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwalignc bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nEven<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(2)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(5)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(3)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<ul class=\"bwlistdisc\">\n<li>\nPizza Hut Division opened 512 gross new restaurants during the quarter.<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nFor the year, Pizza Hut Division opened 1,280 gross new restaurants across 62 countries.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\nFor the quarter, the 53rd week provided a benefit of three percentage points to system sales growth and four percentage points to core operating profit growth. For the year, the 53rd week provided a negligible benefit to system sales growth and a benefit of one percentage point to core operating profit growth.<\/p>\n<\/li>\n<li>\nForeign currency translation unfavorably impacted operating profit by $1 million for the quarter and $6 million for the year.<\/p>\n<\/li>\n<\/ul>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignc bwwidth80\">\n<tr>\n<td rowspan=\"2\" class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor1 bwtopsingle bwvertalignm bwpadl1 bwwidth28\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Pizza Hut Markets<sup>1<\/sup><\/b><\/p>\n<\/td>\n<td rowspan=\"2\" class=\"bwsinglebottom bwpadl0 bwrowaltcolor1 bwtopsingle bwvertalignm bwwidth24 bwnowrap\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Percent of Pizza Hut<\/b><\/p>\n<p class=\"bwalignc bwcellpmargin\"><b>System Sales<sup>2<\/sup><\/b><\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwrowaltcolor1 bwvertalignm\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>System Sales Growth Ex F\/X<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwpadl0 bwrowaltcolor1 bwvertalignm bwnowrap bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Fourth-Quarter<\/b><\/p>\n<p class=\"bwalignc bwcellpmargin\"><b>(% Change)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwrowaltcolor1 bwvertalignm bwnowrap bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Full-Year<\/b><\/p>\n<p class=\"bwalignc bwcellpmargin\"><b>(% Change)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nUnited States<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n42%<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nEven<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nChina<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n18%<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+7<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+3<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAsia<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n13%<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nEven<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(3)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nEurope<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n11%<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(7)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(6)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLatin America<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n7%<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(4)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nEven<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nMiddle East \/ Africa<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n4%<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+20<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nEven<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCanada<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3%<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+10<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+6<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth28\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nIndia<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2%<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+10<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwalignc bwwidth24\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+4<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b><span class=\"bwuline\">THE HABIT BURGER GRILL DIVISION<\/span><\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nThe Habit Burger Grill Division opened 6 gross new restaurants during the quarter and 16 for the year.<\/p>\n<\/li>\n<li>\nThe Habit Burger Grill Division grew system sales 10% for the quarter and 2% for the year.<\/p>\n<\/li>\n<li>\nThe Habit Burger Grill Division same-store sales were flat for the quarter and declined (4)% for the year.<\/p>\n<\/li>\n<li>\nFor the quarter, the 53rd week provided a benefit of five percentage points to system sales growth. For the year, the 53rd week provided a benefit of one percentage point to system sales growth.<\/p>\n<\/li>\n<\/ul>\n<p><b><span class=\"bwuline\">OTHER ITEMS<\/span><\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nThe Company&#8217;s Board of Directors approved a dividend of $0.71 per share of common stock, an increase of 6%. The quarterly dividend will be distributed March 7, 2025 to shareholders of record at the close of business on February 21, 2025.<\/p>\n<\/li>\n<li>\nIn January, Yum! Brands <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.yum.com%2Fwps%2Fportal%2Fyumbrands%2FYumbrands%2Fnews%2Fpress-releases%2Fyum%2Bbrands%2Bterminates%2Bfranchise%2Bagreement%2Bwith%2Bis%2Bgida%2Bas%2Bin%2Bturkey&amp;esheet=54200342&amp;newsitemid=20250205909067&amp;lan=en-US&amp;anchor=terminated+its+franchise+agreements&amp;index=6&amp;md5=f58220685f92dc1d6f595279ba0e7a06\">terminated its franchise agreements<\/a><b \/>with franchisee IS Gida A.S. (IS Gida), the owner and operator of KFC and Pizza Hut restaurants in Turkey after failure to meet Yum! Brands\u2019 standards. The termination affects 284 KFC and 254 Pizza Hut restaurants in Turkey. Yum! Brands is actively identifying the right growth-minded franchise partner to drive future success in Turkey.<\/p>\n<\/li>\n<li>\nSee reconciliation of Non-GAAP Measurements to GAAP results within this release for further detail of Special Items by financial statement line item including the impact of Special Items on General and administrative expenses.<\/p>\n<\/li>\n<li>\nDisclosures pertaining to outstanding debt in our Restricted Group capital structure will be provided at the time of the filing of the 2024 Form 10-K.<\/p>\n<\/li>\n<\/ul>\n<p><b><span class=\"bwuline\">LONG-TERM GROWTH ALGORITHM<\/span><\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nThe Company targets the following long-term financial performance metrics, first announced in 2022, that it believes it can achieve over an extended period of time, on average:<\/p>\n<ul class=\"bwlistcircle\">\n<li>\n5% Unit Growth<\/p>\n<\/li>\n<li>\n7% System Sales Growth, excluding F\/X and 53rd week; and<\/p>\n<\/li>\n<li>\nAt least 8% Core Operating Profit Growth, excluding F\/X and 53rd week<sup>3<\/sup><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>1<\/sup>Refer to <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Finvestors.yum.com%2Ffinancial-information%2Ffinancial-reports%2F&amp;esheet=54200342&amp;newsitemid=20250205909067&amp;lan=en-US&amp;anchor=investors.yum.com%2Ffinancial-information%2Ffinancial-reports%2F&amp;index=7&amp;md5=c6f75969dcbac4ec3bda5005d0415fc2\">investors.yum.com\/financial-information\/financial-reports\/<\/a> for a list of the countries within each of the markets.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>2<\/sup>Reflects Full Year 2024.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>3<\/sup>At this time, we are unable to forecast any Special Items or any impact from changes in F\/X rates, and therefore cannot provide an estimate of Operating Profit Growth on a GAAP basis.\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b><span class=\"bwuline\">CONFERENCE CALL<\/span><\/b><\/p>\n<p>\nYum! Brands, Inc. will host a conference call to review the company&#8217;s financial performance and strategies at 8:15 a.m. Eastern Time Thursday, February 6, 2025. The number is 833\/470-1428 in the U.S., 833\/950-0062 in Canada and +1\/929-526-1599 for international callers, conference ID 951337.<\/p>\n<p>\nThe call will be available for playback beginning at 10:00 a.m. Eastern Time February 6, 2025 through February 13, 2025. To access the playback, dial 866\/813-9403 in the U.S., 226\/828-7578 in Canada, and +1\/929-458-6194 internationally, conference ID 189157.<\/p>\n<p>\nThe webcast and the playback can be accessed via the website by visiting Yum! Brands&#8217; website, <i><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Finvestors.yum.com%2Fevents-and-presentations&amp;esheet=54200342&amp;newsitemid=20250205909067&amp;lan=en-US&amp;anchor=investors.yum.com%2Fevents-and-presentations&amp;index=8&amp;md5=9e202802e391d1605a591a8596d4bf9e\">investors.yum.com\/events-and-presentations<\/a><\/i>and selecting &#8220;Q4 2024 Earnings Conference Call.\u201d<\/p>\n<p><b><span class=\"bwuline\">ADDITIONAL INFORMATION ONLINE<\/span><\/b><\/p>\n<p>\nQuarter end dates for each division, restaurant count details, definitions of terms and Restricted Group financial information are available at <i><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Finvestors.yum.com&amp;esheet=54200342&amp;newsitemid=20250205909067&amp;lan=en-US&amp;anchor=investors.yum.com&amp;index=9&amp;md5=dd2ddbc6d3c8c6e69a9c743949cbe57c\">investors.yum.com<\/a>.<\/i> Reconciliation of non-GAAP financial measures to the most directly comparable GAAP measures are included within this release.<\/p>\n<p><b><span class=\"bwuline\">FORWARD-LOOKING STATEMENTS<\/span><\/b><\/p>\n<p>\nThis announcement may contain \u201cforward-looking statements\u201d within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as \u201cexpect,\u201d \u201cexpectation,\u201d \u201cbelieve,\u201d \u201canticipate,\u201d \u201cmay,\u201d \u201ccould,\u201d \u201cintend,\u201d \u201cbelief,\u201d \u201cplan,\u201d \u201cestimate,\u201d \u201ctarget,\u201d \u201cpredict,\u201d \u201clikely,\u201d \u201cseek,\u201d \u201cproject,\u201d \u201cmodel,\u201d \u201congoing,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cforecast,\u201d \u201coutlook\u201d or similar terminology. These statements are based on and reflect our current expectations, estimates, assumptions and\/ or projections, our perception of historical trends and current conditions, as well as other factors that we believe are appropriate and reasonable under the circumstances. Forward-looking statements are neither predictions nor guarantees of future events, circumstances or performance and are inherently subject to known and unknown risks, uncertainties and assumptions that could cause our actual results to differ materially from those indicated by those statements. There can be no assurance that our expectations, estimates, assumptions and\/or projections, including with respect to the future earnings and performance or capital structure of Yum! Brands, will prove to be correct or that any of our expectations, estimates or projections will be achieved.<\/p>\n<p>\nNumerous factors could cause our actual results and events to differ materially from those expressed or implied by forward-looking statements, including, without limitation: food safety and food- or beverage-borne illness concerns; adverse impacts of health epidemics, deterioration in public health conditions or the occurrence of other catastrophic or unforeseen events; the success and financial stability of our concepts\u2019 franchisees, particularly in light of challenging macroeconomic conditions; the success of our development strategy; anticipated benefits from past or potential future acquisitions, investments, other strategic transactions or initiatives, or our portfolio business model; our significant exposure to the Chinese market; our global operations and related exposure to geopolitical instability, including as a result of the Middle East conflict as well as potential expansion of restrictive trade policies; foreign currency risks and foreign exchange controls; our ability to protect the integrity or availability of IT systems or the security of confidential information and other cybersecurity risks; compliance with data privacy and data protection legal requirements and reporting obligations; our ability to successfully and securely implement technology initiatives, including utilization of artificial intelligence; our increasing dependence on digital commerce platforms; the impact of social media; our ability to protect our trademarks or other intellectual property; shortages or interruptions in the availability and the delivery of food, equipment and other supplies; the loss of key personnel, labor shortages and increased labor costs, including as a result of state and local legislation related to wages and working conditions; changes in food prices and other operating costs; our corporate reputation, the value and perception of our brands and changes in consumer preferences and wellness trends; evolving expectations and requirements with respect to social and environmental sustainability matters; adverse effects of severe weather and climate change; pending or future litigation and legal claims or proceedings; changes in, or noncompliance with, legal requirements; tax matters, including changes in tax rates or laws, impositions of new taxes, tax implications of our restructurings, or disagreements with taxing authorities; changes in consumer discretionary spending and macroeconomic conditions, including inflationary pressures and elevated interest rates; competition within the retail food industry; risks relating to our level of indebtedness. In addition, other risks and uncertainties not presently known to us or that we currently believe to be immaterial could affect the accuracy of any such forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. The forward-looking statements included in this announcement are only made as of the date of this announcement and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances.<\/p>\n<p>\nYou should consult our filings with the Securities and Exchange Commission (including the information set forth under the captions \u201cRisk Factors\u201d and \u201cForward-Looking Statements\u201d in our most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q) for additional detail about factors that could affect our financial and other results.<\/p>\n<p>\nYum! Brands, Inc., based in Louisville, Kentucky, and its subsidiaries franchise or operate a system of over 61,000 restaurants in more than 155 countries and territories under the company\u2019s concepts \u2013 KFC, Taco Bell, Pizza Hut and Habit Burger &amp; Grill. The Company&#8217;s KFC, Taco Bell and Pizza Hut brands are global leaders of the chicken, Mexican-inspired food and pizza categories, respectively. Habit Burger &amp; Grill is a fast casual restaurant concept specializing in made-to-order chargrilled burgers, sandwiches and more. In 2024, Yum! was named to the Dow Jones Sustainability Index North America, Newsweek\u2019s list of America\u2019s Most Responsible Companies, USA Today\u2019s America\u2019s Climate Leaders and 3BL\u2019s list of 100 Best Corporate Citizens. In 2025, the Company was recognized among TIME magazine\u2019s list of Best Companies for Future Leaders. In addition, KFC, Taco Bell and Pizza Hut brands were ranked in the top 25 of Entrepreneur\u2019s Top Global Franchises Ranking for 2025, with Taco Bell securing the No. 1 spot for the fifth consecutive year.<\/p>\n<p>\nCategory: Earnings<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250205909067r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250205909067\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250205909067\/en\/<\/a><\/span><\/p>\n<p>\nAnalysts are invited to contact:<br \/>\n<br \/>Matt Morris, Head of Investor Relations, at 888\/298-6986<\/p>\n<p>\nMembers of the media are invited to contact:<br \/>\n<br \/>Lori Eberenz, Director, Public Relations, at 502\/874-8200<\/p>\n<p><b>KEYWORDS:<\/b> Kentucky United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Retail Restaurant\/Bar Food\/Beverage<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250205909067\/en\/1284254\/3\/Yum_Brands_HABIT_Stacked_SECONDARY_004.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Yum! Brands Reports Fourth-Quarter and Full-Year Results Fourth-Quarter Same-Store Sales Growth at Taco Bell of 5%; KFC International Unit Growth of 8% Full-Year GAAP Operating Profit of 4% and Core Operating Profit Growth Excluding 53rd Week of 8% LOUISVILLE, Ky.&#8211;(BUSINESS WIRE)&#8211; Yum! Brands, Inc. (NYSE: YUM) today reported results for the fourth quarter and year ended December 31, 2024. Fourth-quarter GAAP EPS was $1.49 and EPS excluding Special Items was $1.61. Full-year GAAP EPS was $5.22 and EPS excluding Special Items was $5.48, an increase of 6%. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20250205909067\/en\/ DAVID GIBBS &amp; CHRIS TURNER COMMENTS David Gibbs, CEO, said \u201c2024 was marked with exceptional core operating profit growth given the complex &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/yum-brands-reports-fourth-quarter-and-full-year-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Yum! Brands Reports Fourth-Quarter and Full-Year Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-809704","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Yum! Brands Reports Fourth-Quarter and Full-Year Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/yum-brands-reports-fourth-quarter-and-full-year-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yum! Brands Reports Fourth-Quarter and Full-Year Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Yum! Brands Reports Fourth-Quarter and Full-Year Results Fourth-Quarter Same-Store Sales Growth at Taco Bell of 5%; KFC International Unit Growth of 8% Full-Year GAAP Operating Profit of 4% and Core Operating Profit Growth Excluding 53rd Week of 8% LOUISVILLE, Ky.&#8211;(BUSINESS WIRE)&#8211; Yum! Brands, Inc. (NYSE: YUM) today reported results for the fourth quarter and year ended December 31, 2024. Fourth-quarter GAAP EPS was $1.49 and EPS excluding Special Items was $1.61. Full-year GAAP EPS was $5.22 and EPS excluding Special Items was $5.48, an increase of 6%. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20250205909067\/en\/ DAVID GIBBS &amp; CHRIS TURNER COMMENTS David Gibbs, CEO, said \u201c2024 was marked with exceptional core operating profit growth given the complex &hellip; Continue reading &quot;Yum! 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