For the year ending 2025-12-31, YUM had $116M increase in cash & cash equivalents over the period. $1,639M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 1,559 | 1,486 | 1,597 | 1,325 |
| Depreciation and amortization | 206 | 175 | 153 | 146 |
| Impairment and closure expense | 22 | 12 | 13 | 10 |
| Refranchising (gain) loss | 48 | 34 | 29 | 27 |
| Investment (income) expense, net | 1 | -21 | 7 | 11 |
| Deferred income taxes | 107 | -30 | -290 | -55 |
| Share-based compensation expense | 70 | 69 | 95 | 84 |
| Changes in accounts and notes receivable | 45 | 53 | 89 | 84 |
| Changes in prepaid expense and other assets | 18 | 12 | 15 | -1 |
| Changes in accounts payable and other current liabilities | 94 | 8 | -30 | -39 |
| Changes in income taxes payable | -48 | -29 | 43 | 17 |
| Other, net | 112 | 76 | 162 | 60 |
| Net cash provided by operating activities | 2,010 | 1,689 | 1,603 | 1,427 |
| Capital spending | 371 | 257 | 285 | 279 |
| Payments to acquire businesses, net of cash acquired | - | - | - | 0 |
| Proceeds from sale of long-term investments | 0 | 104 | - | - |
| Payments for (proceeds from) investments | 0 | 0 | -121 | 0 |
| Payments to acquire long-term investments | - | 174 | - | - |
| Business acquisitions, purchase price allocation, year of acquisition, net effect on income | -782 | - | - | - |
| Proceeds from refranchising of restaurants | 78 | 49 | 60 | 73 |
| Payments to acquire short-term investments | 91 | 91 | - | - |
| Other, net | 19 | 53 | 3 | -4 |
| Net cash provided by (used in) investing activities | -1,003 | -422 | -107 | -202 |
| Proceeds from long-term debt | 1,493 | 237 | 0 | 999 |
| Repayments of long-term debt | 966 | 479 | 397 | 699 |
| Revolving credit facilities, three months or less, net | -50 | 345 | -279 | 279 |
| More than three months - proceeds | 89 | - | - | 0 |
| Repayments of short-term debt, maturing in more than three months | 86 | - | - | 0 |
| Three months or less, net | 0 | - | - | 0 |
| Repurchase shares of common stock | 552 | 441 | 50 | 1,200 |
| Dividends paid on common stock | 789 | 752 | 678 | 649 |
| Debt issuance costs | - | - | 0 | 11 |
| Other, net | -63 | -73 | -25 | -42 |
| Net cash used in financing activities | -924 | -1,163 | -1,429 | -1,323 |
| Effect of exchange rate on cash, cash equivalents, restricted cash, and restricted cash equivalents, continuing operations | 32 | -21 | 10 | -26 |
| Cash, cash equivalents, restricted cash and restricted cash equivalents, period increase (decrease), including exchange rate effect | 116 | 83 | 77 | -124 |
YUM BRANDS INC (YUM)
YUM BRANDS INC (YUM)