YUM! BRANDS, INC. (YUM) FY2025 Annual Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2025-01-01 to 2025-12-31

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YUM! BRANDS, INC. cash flow reconciliation, Jan 1, 2025 through Dec 31, 2025One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Calculated remaining financing cash flows are purple; remaining operating and investing bundles are gray. Their underlying inflows and outflows are not separately identified. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net Income → Net cash from operating activities: $1,559,000,000.00Depreciation and amortization → Operating adjustments reconciliation: $206,000,000.00Other, net → Operating adjustments reconciliation: $112,000,000.00Deferred income taxes → Operating adjustments reconciliation: $107,000,000.00Changes in accounts payable and other current liabilities → Operating adjustments reconciliation: $94,000,000.00Share-based compensation expense → Operating adjustments reconciliation: $70,000,000.00Impairment and closure expense → Operating adjustments reconciliation: $22,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $451,000,000.00Operating adjustments reconciliation → Refranchising (gain) loss: $48,000,000.00Operating adjustments reconciliation → Changes in income taxes payable: $48,000,000.00Operating adjustments reconciliation → Changes in Accounts and Notes Receivable: $45,000,000.00Operating adjustments reconciliation → Changes in Prepaid Expense and Other Assets: $18,000,000.00Operating adjustments reconciliation → Investment (income) expense, net: $1,000,000.00Business Acquisitions, Purchase Price Allocation, Year of Acquisition, Net Effect on Income → investing reconciliation: $782,000,000.00Proceeds from refranchising of restaurants → investing reconciliation: $78,000,000.00investing reconciliation → Remaining investing cash flows, net (calculated): $1,382,000,000.00investing reconciliation → Capital spending: $371,000,000.00investing reconciliation → Payments to Acquire Short-Term Investments: $91,000,000.00investing reconciliation → Other, net: $19,000,000.00Net cash used in financing activities → financing reconciliation: $924,000,000.00Proceeds from long-term debt → financing reconciliation: $1,493,000,000.00More than three months - proceeds → financing reconciliation: $89,000,000.00financing reconciliation → Repayments of long-term debt: $966,000,000.00financing reconciliation → Dividends paid on Common Stock: $789,000,000.00financing reconciliation → Repurchase shares of Common Stock: $552,000,000.00financing reconciliation → Repayments of Short-Term Debt, Maturing in More than Three Months: $86,000,000.00financing reconciliation → Other, net: $63,000,000.00financing reconciliation → Revolving credit facilities, three months or less, net: $50,000,000.00Net cash used in investing activities → investing reconciliation: $1,003,000,000.00Exchange-rate effect → Cash sources and uses: $32,000,000.00Difference in the filed cash totals (calculated) → Cash sources and uses: $1,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $807,000,000.00Net cash from operating activities → Cash sources and uses: $2,010,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $923,000,000.00Cash sources and uses → Net cash used in investing activities: $1,003,000,000.00Cash sources and uses → Net cash used in financing activities: $924,000,000.00Net Income: $1,559,000,000.00Net Income+$1.56 BDepreciation and amortization: $206,000,000.00Depreciation & amortization+$206.00 MImpairment and closure expense: $22,000,000.00Asset impairments+$22.00 MRefranchising (gain) loss: -$48,000,000.00Asset disposal gain & loss−$48.00 MInvestment (income) expense, net: -$1,000,000.00Investment (income) expense, net−$1.00 MDeferred income taxes: $107,000,000.00Deferred income taxes+$107.00 MShare-based compensation expense: $70,000,000.00Stock-based compensation+$70.00 MChanges in Accounts and Notes Receivable: -$45,000,000.00Accounts & notes receivable−$45.00 MChanges in Prepaid Expense and Other Assets: -$18,000,000.00Prepaid & other assets−$18.00 MChanges in accounts payable and other current liabilities: $94,000,000.00Payables & accrued liabilities+$94.00 MChanges in income taxes payable: -$48,000,000.00Income taxes payable−$48.00 MOther, net: $112,000,000.00Other operating, net+$112.00 MNet cash from operating activities: $2,010,000,000.00Operating cash+$2.01 BOperating adjustments reconciliation: $611,000,000.00Proceeds from long-term debt: $1,493,000,000.00Long-term debt issued+$1.49 BRepayments of long-term debt: -$966,000,000.00Long-term debt repaid−$966.00 MRevolving credit facilities, three months or less, net: -$50,000,000.00Credit lines, net−$50.00 MMore than three months - proceeds: $89,000,000.00Short-term debt issued, 90+ days+$89.00 MRepayments of Short-Term Debt, Maturing in More than Three Months: -$86,000,000.00Short-term debt repaid, 90+ days−$86.00 MThree months or less, net: $0.00Repurchase shares of Common Stock: -$552,000,000.00Common stock repurchases−$552.00 MDividends paid on Common Stock: -$789,000,000.00Common dividends paid−$789.00 MOther, net: -$63,000,000.00Other financing, net−$63.00 MNet cash used in financing activities: -$924,000,000.00. Cash required to fund net payments.Financing cash−$924.00 Mfinancing reconciliation: $2,506,000,000.00Capital spending: -$371,000,000.00PP&E purchases−$371.00 MProceeds from Sale of Long-Term Investments: $0.00Payments for (Proceeds from) Investments: -$0.00Business Acquisitions, Purchase Price Allocation, Year of Acquisition, Net Effect on Income: $782,000,000.00Business Acquisitions, Purchase Price Allocation,Year of Acquisition, Net Effect on Income+$782.00 MProceeds from refranchising of restaurants: $78,000,000.00Business sales+$78.00 MPayments to Acquire Short-Term Investments: -$91,000,000.00Short-term investment purchases−$91.00 MOther, net: -$19,000,000.00Other investing, net−$19.00 MRemaining investing cash flows, net (calculated): -$1,382,000,000.00Remaining investing (calculated)−$1.38 BNet cash used in investing activities: -$1,003,000,000.00. Cash required to fund net payments.Investing cash−$1.00 Binvesting reconciliation: $1,863,000,000.00Cash sources and uses: $2,850,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $807,000,000.00Beginning cash$807.00 MEnding cash: Cash, cash equivalents, and restricted cash: $923,000,000.00Ending cash$923.00 MExchange-rate effect: $32,000,000.00FX effect+$32.00 MDifference in the filed cash totals (calculated): $1,000,000.00Filer's cash difference(calculated)+$1.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$1.64 BOperating cash − cash spent on PP&ECash flow / Net income1.29×Operating cash flow ÷ net incomeNet cash change+$116.00 MEnding cash − beginning cash
Chart details

YUM! BRANDS, INC. cash flow reconciliation, Jan 1, 2025 through Dec 31, 2025

Cash flows for Jan 1, 2025 through Dec 31, 2025. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2024. Ending cash: Dec 31, 2025. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2024
807,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
2,010,000,000 US dollars. Net cash provided.
Net Income
1,559,000,000 US dollars
Depreciation and amortization
206,000,000 US dollars
Impairment and closure expense
22,000,000 US dollars
Refranchising (gain) loss
negative 48,000,000 US dollars
Investment (income) expense, net
negative 1,000,000 US dollars
Deferred income taxes
107,000,000 US dollars
Share-based compensation expense
70,000,000 US dollars
Changes in Accounts and Notes Receivable
negative 45,000,000 US dollars
Changes in Prepaid Expense and Other Assets
negative 18,000,000 US dollars
Changes in accounts payable and other current liabilities
94,000,000 US dollars
Changes in income taxes payable
negative 48,000,000 US dollars
Other, net
112,000,000 US dollars
Investing activities
negative 1,003,000,000 US dollars. Net cash used. The remaining amount is calculated by subtracting the other displayed items from the investing total. The filing's tagged investing lines do not add up to the investing total; this is the difference. It may combine inflows and outflows.
Capital spending
negative 371,000,000 US dollars
Proceeds from Sale of Long-Term Investments
0 US dollars
Payments for (Proceeds from) Investments
0 US dollars
Business Acquisitions, Purchase Price Allocation, Year of Acquisition, Net Effect on Income
782,000,000 US dollars
Proceeds from refranchising of restaurants
78,000,000 US dollars
Payments to Acquire Short-Term Investments
negative 91,000,000 US dollars
Other, net
negative 19,000,000 US dollars
Remaining investing cash flows, net (calculated)
negative 1,382,000,000 US dollars
Financing activities
negative 924,000,000 US dollars. Net cash used.
Proceeds from long-term debt
1,493,000,000 US dollars
Repayments of long-term debt
negative 966,000,000 US dollars
Revolving credit facilities, three months or less, net
negative 50,000,000 US dollars
More than three months - proceeds
89,000,000 US dollars
Repayments of Short-Term Debt, Maturing in More than Three Months
negative 86,000,000 US dollars
Three months or less, net
0 US dollars
Repurchase shares of Common Stock
negative 552,000,000 US dollars
Dividends paid on Common Stock
negative 789,000,000 US dollars
Other, net
negative 63,000,000 US dollars
Operating adjustment reconciliation
611,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
2,506,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing displayed reconciliation
1,863,000,000 US dollars. Intermediate calculation joining the displayed items and the calculated net remainder. It does not establish gross cash receipts or payments and is not an additional cash flow.
Exchange-rate effect
32,000,000 US dollars
Difference in the filed cash totals (calculated)
1,000,000 US dollars. Into cash; drawn as the small gray flow above beginning cash.
Ending cash on Dec 31, 2025
923,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
2,850,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
116,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.29×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
2,010,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
371,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
1,639,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $451.00M after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • The filer's reported cash figures differ by $1.00 M: its operating, investing and financing totals and exchange-rate effect do not add up to its reported net change in cash. The chart shows the difference as its own calculated flow; no reported amount has been adjusted.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 2,010,000,000 US dollars minus 371,000,000 US dollars equals 1,639,000,000 US dollars.
  • The filer's reported cash figures differ by $1.00 M: its operating, investing and financing totals and exchange-rate effect do not add up to its reported net change in cash. The chart shows the difference as its own calculated flow; no reported amount has been adjusted.
YUM! BRANDS, INC. (YUM) FY2025 Annual Statement of Cash Flows Sankey chart
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