|Exchange:||New York Stock Exchange|
|Stock:||Yum Brands Inc|
|Yum Brands Inc was incorporated under the laws of the state of North Carolina in 1997. The Company through the three concepts of KFC, Pizza Hut and Taco Bell, develops, operates, franchises and licenses a system of restaurants which prepare, package and sell a menu of competitively priced food items. It has over 40,000 restaurants in more than 125 countries and territories. Units are operated by a Concept or by independent franchisees or licensees under the terms of franchise or license agreements. It operates through six segments, namely YUM Restaurants China, YUM Restaurants International (YRI), Taco Bell U.S., KFC U.S., Pizza Hut U.S. and YUM Restaurants India. The China Division includes mainland China, and the India Division includes India, Bangladesh, Mauritius, Nepal and Sri Lanka. YRI includes the remainder of its international operations. The China Division, based in Shanghai, China, comprises 6,200 system restaurants, primarily Company-owned KFCs and Pizza Huts. YRI, based in Plano, Texas, comprises 15,200 system restaurants, primarily franchised KFCs and Pizza Huts, operating in over 120 countries outside the U.S., China and India. The India Division, based in Delhi, India comprises 700 system restaurants. Most restaurants in each Concept offer consumers the ability to dine in and/or carry out food. In addition, Taco Bell and KFC offer a drive-thru option in many stores. Pizza Hut offers a drive-thru option on a much more limited basis. Pizza Hut and KFC, on a more limited basis primarily in China, offer delivery service. Each concept can be described in the following manner, KFC restaurants across the world offer fried and non-fried chicken products such as sandwiches, chicken strips, chicken-on-the-bone and other chicken products marketed under a variety of names. KFC restaurants also offer a variety of entrees and side items suited to local preferences and tastes. Restaurant decor throughout the world is characterized by the image of the Colonel. Pizza Hut features a variety of pizzas which are marketed under varying names. Each of these pizzas is offered with a variety of different toppings suited to local preferences and tastes. Many Pizza Huts also offer pasta and chicken wings, including over 4,800 stores offering wings under the brand WingStreet, primarily in the U.S. Outside the U.S., Pizza Hut casual dining restaurants offer a variety of core menu products other than pizza, which are typically suited to local preferences and tastes. Pizza Hut units feature a distinctive red roof logo on their signage. Taco Bell specializes in Mexican-style food products, including various types of tacos, burritos, quesadillas, salads, nachos and other related items. Taco Bell units feature a distinctive bell logo on their signage. The Company and its Concepts own numerous registered trademarks and service marks such as Kentucky Fried Chicken®, KFC®, Pizza Hut® and Taco Bell®. The retail food industry, in which the Company’s Concepts compete, is made up of supermarkets, supercenters, warehouse stores, convenience stores, coffee shops, snack bars, delicatessens and restaurants (including the QSR segment), and is intensely competitive with respect to food quality, price, service, convenience, location and concept. The Company and its U.S. Division are subject to various federal, state and local laws affecting its business. The Company’s restaurants outside the U.S. are subject to national and local laws and regulations which are similar to those affecting U.S. restaurants, including laws and regulations concerning information security, labor, health, sanitation and safety.|
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