Yum China Holdings Files Q3 2024 10-Q

TL;DR

**YUMC Q3 10-Q FILED. Financials updated.**

AI Summary

Yum China Holdings, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and operational status. Key financial data and disclosures relevant to investors are included in this quarterly report.

Why It Matters

This filing provides investors with an update on Yum China's financial health and operational performance for the third quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not contain any immediately apparent high-risk disclosures.

Key Numbers

• Q3 2024 — Reporting Period (The period covered by the 10-Q filing.)

Key Players & Entities

• Yum China Holdings, Inc. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241108 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share YUMC New York Stock Excha

Filing Documents

• yumc-20240930.htm (10-Q) — 4959KB
• yumc-ex31_1.htm (EX-31.1) — 13KB
• yumc-ex31_2.htm (EX-31.2) — 13KB
• yumc-ex32_1.htm (EX-32.1) — 8KB
• yumc-ex32_2.htm (EX-32.2) — 8KB
• 0000950170-24-123668.txt ( ) — 15629KB
• yumc-20240930.xsd (EX-101.SCH) — 1485KB
• yumc-20240930_htm.xml (XML) — 3378KB

– Financial Statements

Item 1 – Financial Statements 3 Condensed Consolidated Statements of Income – Quarters and Years to Date Ended September 30, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Statements of Comprehensive Income – Quarters and Years to Date Ended September 30, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Cash Flows – Years to Date Ended September 30, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Balance Sheets – September 30, 2024 (Unaudited) and December 31, 2023 6 Condensed Consolidated Statements of Equity – Quarters and Years to Date Ended September 30, 2024 and 2023 (Unaudited) 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 9

– Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations 25

– Quantitative and Qualitative Disclosures About Market Risk

Item 3 – Quantitative and Qualitative Disclosures About Market Risk 43

– Controls and Procedures

Item 4 – Controls and Procedures 43 Part II. Other Information

– Legal Proceedings

Item 1 – Legal Proceedings 44

– Risk Factors

Item 1A – Risk Factors 44

– Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 44

– Other Information

Item 5 – Other Information 44

– Exhibits

Item 6 – Exhibits 45

Signatures

Signatures 46

– FINANCI AL INFORMATION

PART I – FINANCI AL INFORMATION

Financi al Statements

Item 1. Financi al Statements Condensed Consolidated State ments of Income (Unaudited) Yum China Holdings, Inc. (in US$ millions, except per share data) Quarter Ended Year to Date Ended Revenues 9/30/2024 9/30/2023 9/30/2024 9/30/2023 Company sales $ 2,895 $ 2,759 $ 8,217 $ 8,048 Franchise fees and income 25 23 72 69 Revenues from transactions with franchisees 116 100 319 282 Other revenues 35 32 100 86 Total revenues 3,071 2,914 8,708 8,485 Costs and Expenses, Net Company restaurants Food and paper 918 858 2,611 2,466 Payroll and employee benefits 728 699 2,102 2,047 Occupancy and other operating expenses 755 732 2,126 2,098 Company restaurant expenses 2,401 2,289 6,839 6,611 General and administrative expenses 139 169 412 485 Franchise expenses 10 9 29 28 Expenses for transactions with franchisees 110 95 306 270 Other operating costs and expenses 32 29 90 77 Closures and impairment expenses, net 8 — 22 17 Other (income) expenses, net — — ( 1 ) 1 Total costs and expenses, net 2,700 2,591 7,697 7,489 Operating Profit 371 323 1,011 996 Interest income, net 31 46 100 124 Investment gain (loss) 34 ( 4 ) 50 ( 32 ) Income Before Income Taxes and Equity in Net Earnings (Losses) from Equity Method Investments 436 365 1,161 1,088 Income tax provision ( 119 ) ( 100 ) ( 309 ) ( 296 ) Equity in net earnings (losses) from equity method investments 2 2 2 2 Net income – including noncontrolling interests 319 267 854 794 Net income – noncontrolling interests 22 23 58 64 Net Income – Yum China Holdings, Inc. $ 297 $ 244 $ 796 $ 730 Weighted-average common shares outstanding (in millions): Basic 384 416 391 417 Diluted 385 420 393 421 Basic Earnings Per Common