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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues    
Total revenues $ 2,557 $ 1,754
Costs and Expenses, Net    
General and administrative expenses 130 99
Other operating costs and expenses 11 10
Other income, net (6) (16)
Total costs and expenses, net 2,215 1,657
Closures and impairment (income) expenses, net (2) 8
Operating Profit 342 97
Interest income, net [1] 15 9
Investment loss [1] (12) (8)
Income Before Income Taxes 345 98
Income tax provision (102) (32)
Net income – including noncontrolling interests 243 66
Net income – noncontrolling interests 13 4
Net Income – Yum China Holdings, Inc. $ 230 $ 62
Weighted-average common shares outstanding (in millions):    
Basic [2] 420 376
Diluted [2] 434 386
Basic Earnings Per Common Share $ 0.55 $ 0.16
Diluted Earnings Per Common Share $ 0.53 $ 0.16
Company Sales [Member]    
Revenues    
Revenues $ 2,331 $ 1,548
Franchise [Member]    
Revenues    
Revenues 42 35
Costs and Expenses, Net    
Cost of goods and services sold 17 17
Transactions With Franchisees and Unconsolidated Affiliates [Member]    
Revenues    
Revenues 171 161
Costs and Expenses, Net    
Cost of goods and services sold 169 156
Other Revenues [Member]    
Revenues    
Revenues 13 10
Company Restaurant Expenses [Member]    
Costs and Expenses, Net    
Food and paper 704 495
Payroll and employee benefits 544 394
Occupancy and other operating expenses 648 494
Cost of goods and services sold $ 1,896 $ 1,383
[1] Amounts have not been allocated to any segment for performance reporting purposes.
[2] As a result of the separation, shares of Yum China common stock were distributed to YUM’s shareholders of record as of October 19, 2016 and included in the calculated weighted-average common shares outstanding. Holders of outstanding YUM equity awards generally received both adjusted YUM awards and Yum China awards, or adjusted awards of either YUM or Yum China in their entirety. Any subsequent exercise of these awards, whether held by the Company’s employees or YUM’s employees, would increase the number of common shares outstanding. The incremental shares arising from outstanding equity awards are included in the computation of diluted EPS, if there is dilutive effect. In September 2020, 41,910,700 common shares were issued as a result of the Company’s global offering and secondary listing on the HKEX and they were included in the calculated weighted-average common shares outstanding.