09 Feb Focus on Analysis | Yum! Brands, Inc.s 1, 5, 6, 7,
Focus on Analysis | Yum! Brands, Inc.s 1, 5, 6, 7, 8: Measure the cost of plant assets,; explain plant asset activity; apply GAAP for intangible assets, explain an asset impairment, analyze rate of return on assets; analyze the cash flow impact of long-lived asset transactions) Refer to the Yum! Brands, Inc. Consolidated Financial Statements in Appendix B at the end of this book. This case leads you through an analysis of the activity for some of Yum! Brands, Inc.’s long-term assets, as well as the calculation of its rate of return on total assets.1. On the statement of cash flows, how much did Yum! Brands, Inc., pay for capital expenditures during fiscal 2012? In what section of the cash flows statement do you find this amount?2. Briefly describe Yum! Brands, Inc.’s policies for research and development costs, as well as for impairment or disposal of property, plant and equipment. You can find discussions of these matters in Note 2 (Summary of Significant Accounting Policies).3. Which depreciation method does Yum! Brands, Inc., use? Over what range of useful lives does Yum! Brands, Inc., depreciate various types of fixed assets? You can find discussions of this in Note 2 (Summary of Significant Accounting Policies).4. Review the information in Note 8 (Supplemental balance sheet disclosures). List the categories of Yum! Brands, Inc.’s property, plant and equipment as of December 29, 2012 and December 31, 2011. How much depreciation expense is included in the calculation of net income for these two fiscal years? Does it appear that Yum! Brands, Inc.’s property, plant and equipment was proportionately newer or older at the end of fiscal 2012 (versus 2011)? Explain your answer. (Challenge)5. Examine Notes 2 and 9. Briefly describe Yum! Brands, Inc.’s accounting for goodwill and other intangible assets. From what countries of the world does Yum! Brands derive its goodwill? Briefly analyze the activity in the goodwill account for the fiscal year ended December 29, 2012. What other types of intangible assets did Yum! Brands, Inc., own as of December 29, 2012?6. Using DuPont Analysis, calculate Yum! Brands, Inc.’s rate of return on total assets for fiscal 2012 and fiscal 2011. Total assets at December 25, 2010 (the end of its 2010 fiscal year), were $8,316 million. Did the company perform better or worse in 2012 than in 2011?
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