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Project2Solution[1] - Due End of Sunday Week#7...

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Due: End of Sunday, Week #7 PROJECT #2-HORIZONTAL AND VERTICAL ANALYSIS-SOLUTION Horizontal Horizontal YUM! Brand, Inc.-Consolidated Statements of Income Vertical Vertical Analysis Analysis 12/30/2006 Analysis 12/31/2005 Analysis $ Change % Change in millions %-2006 in millions %-2005 2005-2006 2005-2006 Revenues Company Sales $8,365 87.49% $8,225 87.98% $140 1.70% Franchise and license fees 1,196 12.51% 1,124 12.02% 72 6.41% Total Revenues 9,561 100.00% 9,349 100.00% 212 2.27% Costs and Expenses Company restaurants Food and paper 2,549 26.66% 2,584 27.64% (35) -1.35% Payroll and employee benefits 2,142 22.40% 2,171 23.22% (29) -1.34% Occupancy and other operating expenses 2,403 25.13% 2,315 24.76% 88 3.80% Total Costs 7,094 74.20% 7,070 75.62% 24 0.34% General and administrative expenses 1,187 12.42% 1,158 12.39% 29 2.50% Franchise and license expenses 35 0.37% 33 0.35% 2 6.06% Closures and impairment expenses 59 0.62% 62 0.66% (3) -4.84% Refranchising (gain) loss (24) -0.25% (43) -0.46% 19 -44.19% Other (income) expense (51) -0.53% (80) -0.86% 29 -36.25% Wrench litigation (income) expense 0 0.00% (2) -0.02% 2 -100.00% AmeriServe and other charges (credits) (1) -0.01% (2) -0.02% 1 -50.00% Total Costs and Expenses 8,299 86.80% 8,196 87.67% 103 1.26% Operating Profit 1,262 13.20% 1,153 12.33% 109 9.45% Net interest expense (income) 154 1.61% 127 1.36% 27 21.26% Income (Loss) Before Income Taxes 1,108 11.59% 1,026 10.97% 82 7.99% Income taxes 284 2.97% 264 2.82% 20 7.58% Net Income (loss) $824 8.62% $762 8.15% $62 8.14% Horizontal Horizontal YUM! Brand, Inc.-Consolidated Balance Sheets
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