FINANCIAL HIGHLIGHTS
(in millions, except for unit and share data)


1997

1996
Change
Better (Worse)
System sales(a) $20,500 $20,300

1%

Number of restaurants(a):
System 29,712 29,096

2%

Company 11,207 12,883

(13)%

Company revenues $9,681 10,232

(5)%

Ongoing(a)(b)
Operating profit 649 591

10%

Net income 203 126

61%

  Per Pro Forma Basic Share(c) 1.34 .83

61%

Reported
Operating profit 241 372

$(131)

Net loss (111) (53)

$ (58)

Per Pro Forma Basic Share(c) (.73) (.35)

$ (.38)

Cash flows provided by:
  Operating activities 810 713

14%

  Refranchising proceeds 770

355

$415

(a)   Excludes the Non-core Businesses.  The Non-core Businesses incurred losses of $44 ($26 after-tax or $.17 per basic share) and $261 ($2000 after-tax or $1.32 per basic share) in 1997 and 1996, respectively.  See Note I to the Consolidated Financial Statements.

(b)  1997 excludes the fourth quarter unusual charge of $530 ($425 after-tax or $2.80 per basic share) and the favorable impact relating to other facility actions of $163 ($137 after-tax or $.90 per basic share).  1996 excludes the favorable impact relating to facility actions of $37 ($21 after-tax or $.14 per basic share).  See Note 4 to the Consolidated Financial Statements.

(c)  Assumes the 152 million shares issues at Spin-off had been outstanding for all periods presented.

Worldwide System Units
1992 1993 1994 1995 1996 1997 5-Year Growth
U.S.
KFC 5,055 5,094 5,115 5,137 5,108 5,120 -
Pizza Hut 7,608 7,965 8,348 8,648 8,759 8,698 3%
Taco Bell 3,914 4,495 5,358 6,126 6,669 6,768 12%
Total U.S. 16,577 17,554 18,821 19,911 20,536 20,586 4%
International
KFC 3,674 3,939 4,292 4,492 4,753 5,117 7%
Pizza Hut 1,846 2,295 2,920 3,322 3,631 3,836 16%
Taco Bell 102 139 179 169 176 173 12%
Total International 5,622 6,373 7,391 7,983 8,560 9,126 10%
Total 22,199 23,927 26,212 27,894 29,096 29,712 6%

 

Breakdown of Worldwide System Units
Company Joint Venture Franchised Licensed Total
U.S.
KFC 1,850 3,190 80 5,120
Pizza Hut 3,823 3,581 1,294 8,698
Taco Bell 2,149 2,826 1,793 6,768
Total U.S. 7,822 9,597 3,167 20,586
International
KFC 1,125 465 3,473 54 5,117
Pizza Hut 1,098 625 1,960 153 3,836
Taco Bell 72 67 34 173
Total International 2,295 1,090 5,500 241 9,126
Total 10,117 1,090 15,097 3,408 29,712

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