10-Q Filing

Yum China Holdings, Inc. CIK: 1673358 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-023189`
Period End Date	20200331
Filing Date	20200508
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	yumc-10q_20200331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 36 Cash Flow Statement 69 Comprehensive Income 10

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.05B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	395.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	396.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.05B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	376.00M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$490.00M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$611.00M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	376.00M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$88.00M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$78.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$380.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$317.00M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$134.00M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$112.00M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.04B	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.26B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.59B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.50B	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$1.99B	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$1.90B	USD	Point-in-time
Goodwill	`Goodwill`	$250.00M	USD	Point-in-time
Goodwill	`Goodwill`	$254.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$89.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$94.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$92.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$95.00M	USD	Point-in-time
Investments in unconsolidated affiliates	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$107.00M	USD	Point-in-time
Investments in unconsolidated affiliates	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$89.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$580.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$595.00M	USD	Point-in-time
Total Assets	`Assets`	$6.95B	USD	Point-in-time
Total Assets	`Assets`	$6.58B	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.43B	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.69B	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$49.00M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$45.00M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.48B	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.74B	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$1.80B	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$1.70B	USD	Point-in-time
Non-current finance lease liabilities	`FinanceLeaseLiabilityNoncurrent`	$25.00M	USD	Point-in-time
Non-current finance lease liabilities	`FinanceLeaseLiabilityNoncurrent`	$26.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$210.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$211.00M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.77B	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.42B	USD	Point-in-time
Common stock, $0.01 par value; 1,000 million shares authorized; 396 million shares and 395 million shares issued at March 31, 2020 and December 31, 2019, respectively; 376 million shares and 376 million shares outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValueOutstanding`	$4.00M	USD	Point-in-time
Common stock, $0.01 par value; 1,000 million shares authorized; 396 million shares and 395 million shares issued at March 31, 2020 and December 31, 2019, respectively; 376 million shares and 376 million shares outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValueOutstanding`	$4.00M	USD	Point-in-time
Treasury stock	`TreasuryStockCommonValue`	$728.00M	USD	Point-in-time
Treasury stock	`TreasuryStockCommonValue`	$721.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.43B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.43B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.42B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.43B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-49.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-89.00M	USD	Point-in-time
Total Yum China Holdings, Inc. Stockholders' Equity	`StockholdersEquity`	$3.05B	USD	Point-in-time
Total Yum China Holdings, Inc. Stockholders' Equity	`StockholdersEquity`	$3.08B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$98.00M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$100.00M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.98B	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.17B	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.15B	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.06B	USD	Point-in-time
Total Liabilities, Redeemable Noncontrolling Interest and Equity	`LiabilitiesAndStockholdersEquity`	$6.58B	USD	Point-in-time
Total Liabilities, Redeemable Noncontrolling Interest and Equity	`LiabilitiesAndStockholdersEquity`	$6.95B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`Revenues`	$2.30B	USD	1 Quarter
Total revenues	`Revenues`	$1.75B	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$99.00M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$114.00M	USD	1 Quarter
Other operating costs and expenses	`OtherCostAndExpenseOperating`	$5.00M	USD	1 Quarter
Other operating costs and expenses	`OtherCostAndExpenseOperating`	$10.00M	USD	1 Quarter
Closures and impairment expenses, net	`ClosureAndImpairmentIncomeExpensesNet`	$-11.00M	USD	1 Quarter
Closures and impairment expenses, net	`ClosureAndImpairmentIncomeExpensesNet`	$-8.00M	USD	1 Quarter
Other income, net	`OtherOperatingIncomeExpenseNet`	$19.00M	USD	1 Quarter
Other income, net	`OtherOperatingIncomeExpenseNet`	$16.00M	USD	1 Quarter
Total costs and expenses, net	`CostsAndExpenses`	$2.00B	USD	1 Quarter
Total costs and expenses, net	`CostsAndExpenses`	$1.66B	USD	1 Quarter
Operating Profit	`OperatingIncomeLoss`	$303.00M	USD	1 Quarter
Operating Profit	`OperatingIncomeLoss`	$97.00M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$9.00M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$9.00M	USD	1 Quarter
Investment (loss) gain	`GainLossOnInvestments`	$-8.00M	USD	1 Quarter
Investment (loss) gain	`GainLossOnInvestments`	$10.00M	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$322.00M	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$98.00M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$32.00M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$93.00M	USD	1 Quarter
Net income including noncontrolling interests	`ProfitLoss`	$66.00M	USD	1 Quarter
Net income including noncontrolling interests	`ProfitLoss`	$229.00M	USD	1 Quarter
Net income noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$7.00M	USD	1 Quarter
Net income noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$4.00M	USD	1 Quarter
Net Income Yum China Holdings, Inc.	`NetIncomeLoss`	$62.00M	USD	1 Quarter
Net Income Yum China Holdings, Inc.	`NetIncomeLoss`	$222.00M	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	376.00M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	379.00M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	388.00M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	386.00M	shares	1 Quarter
Basic Earnings Per Common Share	`EarningsPerShareBasic`	$0.16	USD	1 Quarter
Basic Earnings Per Common Share	`EarningsPerShareBasic`	$0.59	USD	1 Quarter
Diluted Earnings Per Common Share	`EarningsPerShareDiluted`	$0.16	USD	1 Quarter
Diluted Earnings Per Common Share	`EarningsPerShareDiluted`	$0.57	USD	1 Quarter

Cash Flow Statement 69 line items

Line Item	Tag	Value	Unit	Period
Net income - including noncontrolling interests	`ProfitLoss`	$66.00M	USD	1 Quarter
Net income - including noncontrolling interests	`ProfitLoss`	$229.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$111.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$109.00M	USD	1 Quarter
Non-cash operating lease cost	`NonCashOperatingLeaseCost`	$88.00M	USD	1 Quarter
Non-cash operating lease cost	`NonCashOperatingLeaseCost`	$83.00M	USD	1 Quarter
Closures and impairment expenses	`ClosuresAndImpairmentExpenses`	$8.00M	USD	1 Quarter
Closures and impairment expenses	`ClosuresAndImpairmentExpenses`	$11.00M	USD	1 Quarter
Investment loss (gain)	`GainLossOnInvestments`	$-8.00M	USD	1 Quarter
Investment loss (gain)	`GainLossOnInvestments`	$10.00M	USD	1 Quarter
Equity income from investments in unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$23.00M	USD	1 Quarter
Equity income from investments in unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$20.00M	USD	1 Quarter
Distributions of income received from unconsolidated affiliates	`EquityMethodInvestmentDividendsOrDistributions`	$28.00M	USD	1 Quarter
Distributions of income received from unconsolidated affiliates	`EquityMethodInvestmentDividendsOrDistributions`	$8.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$2.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$6.00M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$6.00M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$7.00M	USD	1 Quarter
Changes in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-9.00M	USD	1 Quarter
Changes in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.00M	USD	1 Quarter
Changes in inventories	`IncreaseDecreaseInInventories`	$-34.00M	USD	1 Quarter
Changes in inventories	`IncreaseDecreaseInInventories`	$-57.00M	USD	1 Quarter
Changes in prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.00M	USD	1 Quarter
Changes in prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-10.00M	USD	1 Quarter
Changes in accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-39.00M	USD	1 Quarter
Changes in accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-192.00M	USD	1 Quarter
Changes in income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$5.00M	USD	1 Quarter
Changes in income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$24.00M	USD	1 Quarter
Changes in non-current operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilitiesNonCurrent`	$-103.00M	USD	1 Quarter
Changes in non-current operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilitiesNonCurrent`	$-102.00M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$-3.00M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$-15.00M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$344.00M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$60.00M	USD	1 Quarter
Capital spending	`PaymentsToAcquirePropertyPlantAndEquipment`	$110.00M	USD	1 Quarter
Capital spending	`PaymentsToAcquirePropertyPlantAndEquipment`	$87.00M	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$275.00M	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$235.00M	USD	1 Quarter
Maturities of short-term investments	`ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments`	$390.00M	USD	1 Quarter
Maturities of short-term investments	`ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments`	$76.00M	USD	1 Quarter
Prepayment for investment	`PrepaymentForInvestmentBeforeTransactionConsummated`	$27.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-2.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-1.00M	USD	1 Quarter
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$2.00M	USD	1 Quarter
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-267.00M	USD	1 Quarter
Repurchase of shares of common stock	`PaymentsForRepurchaseOfCommonStock`	$8.00M	USD	1 Quarter
Repurchase of shares of common stock	`PaymentsForRepurchaseOfCommonStock`	$68.00M	USD	1 Quarter
Cash dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$45.00M	USD	1 Quarter
Cash dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$46.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$1.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$1.00M	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-52.00M	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-113.00M	USD	1 Quarter
Effect of Exchange Rates on Cash, Cash Equivalents and Restricted Cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-8.00M	USD	1 Quarter
Effect of Exchange Rates on Cash, Cash Equivalents and Restricted Cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$17.00M	USD	1 Quarter
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-19.00M	USD	1 Quarter
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.00M	USD	1 Quarter
Cash, Cash Equivalents and Restricted Cash - Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.25B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash - Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.05B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash - Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.27B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash - Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.06B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash - End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.25B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash - End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.05B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash - End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.27B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash - End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.06B	USD	Point-in-time
Cash paid for income tax	`IncomeTaxesPaidNet`	$53.00M	USD	1 Quarter
Cash paid for income tax	`IncomeTaxesPaidNet`	$25.00M	USD	1 Quarter
Capital expenditures included in accounts payables and other current liabilities	`CapitalExpendituresIncludedInAccountsPayablesAndOtherCurrentLiabilities`	$111.00M	USD	1 Quarter
Capital expenditures included in accounts payables and other current liabilities	`CapitalExpendituresIncludedInAccountsPayablesAndOtherCurrentLiabilities`	$106.00M	USD	1 Quarter

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income - including noncontrolling interests	`ProfitLoss`	$66.00M	USD	1 Quarter
Net income - including noncontrolling interests	`ProfitLoss`	$229.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$59.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-42.00M	USD	1 Quarter
Comprehensive income - including noncontrolling interests	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$24.00M	USD	1 Quarter
Comprehensive income - including noncontrolling interests	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$288.00M	USD	1 Quarter
Comprehensive income - noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$2.00M	USD	1 Quarter
Comprehensive income - noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$10.00M	USD	1 Quarter
Comprehensive Income - Yum China Holdings, Inc.	`ComprehensiveIncomeNetOfTax`	$278.00M	USD	1 Quarter
Comprehensive Income - Yum China Holdings, Inc.	`ComprehensiveIncomeNetOfTax`	$22.00M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.