Yum China Holdings, Inc.
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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FY2025 · Filed Feb 27, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Schedule I - Condensed Financial Statements of Parent Company
Condensed Balance Sheets
December 31, 2025 and 2024
| 2025 | 2024 | |
|---|---|---|
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | $100 | $96 |
| Short-term investments | 250 | 480 |
| Prepaid expenses and other current assets | 40 | 9 |
| Total Current Assets | 390 | 585 |
| Long-term bank deposits and notes | — | 275 |
| Long-term investment in subsidiaries | 5,017 | 4,897 |
| Total Assets | 5,407 | 5,757 |
| LIABILITIES AND EQUITY | ||
| Current Liabilities | ||
| Accounts payable and other current liabilities | 24 | 21 |
| Total Current Liabilities | 24 | 21 |
| Deferred income tax liabilities | 4 | 8 |
| Total Liabilities | 28 | 29 |
| Equity | ||
| Common stock, $0.01 par value; 1,000 million shares authorized; 355 million shares and 379 million shares issued at December 31, 2025 and 2024, respectively; 354 million shares and 378 million shares outstanding at December 31, 2025 and 2024, respectively. | 4 | 4 |
| Treasury stock | (28) | (52) |
| Additional paid-in capital | 3,796 | 4,028 |
| Retained earnings | 1,764 | 2,089 |
| Accumulated other comprehensive loss | (157) | (341) |
| Total Yum China Holdings, Inc. Stockholders' Equity | 5,379 | 5,728 |
| Total Liabilities and Equity | $5,407 | $5,757 |
Condensed Statements of Comprehensive Income
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| General and administrative expenses | 17 | 18 | 17 |
| Interest income, net | 22 | 43 | 57 |
| Income Before Income Taxes and Equity in Net Earnings from Subsidiaries | 5 | 25 | 40 |
| Income tax provision | — | 18 | 3 |
| Equity in net earnings from subsidiaries | 924 | 904 | 790 |
| Net Income — Yum China Holdings, Inc. | 929 | 911 | 827 |
| Other comprehensive income (loss), net of tax | |||
| Foreign currency translation adjustments | 184 | (112) | (126) |
| Comprehensive Income – Yum China Holdings, Inc. | 1,113 | 799 | 701 |
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Condensed Statements of Cash Flows
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Cash Flows – Operating Activities | |||
| Net Cash Provided by Operating Activities (a) | 1,019 | 1,659 | 14 |
| Cash Flows – Investing Activities | |||
| Purchases of short-term investments, long-term bank deposits and notes | — | (598) | (921) |
| Maturities of short-term investments, long-term bank deposits and notes | 480 | 426 | 1,151 |
| Proceeds from repayments of loan due from subsidiaries | — | 39 | 461 |
| Net Cash Provided by/(Used in) Investing Activities | 480 | (133) | 691 |
| Cash Flows – Financing Activities | |||
| Repurchase of shares of common stock | (1,144) | (1,249) | (613) |
| Cash dividends paid on common stock | (353) | (248) | (216) |
| Other, net | 2 | (1) | 14 |
| Net Cash Used in Financing Activities | (1,495) | (1,498) | (815) |
| Net Increase/(Decrease) in Cash and Cash Equivalents | 4 | 28 | (110) |
| Cash and Cash Equivalents - Beginning of Year | 96 | 68 | 178 |
| Cash and Cash Equivalents - End of Year | $100 | $96 | $68 |
(a)
Includes dividends received from subsidiaries of $1,023 million, $1,674 million andnil for the years ended December 31, 2025, 2024 and 2023, respectively.
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Notes to Condensed Financial Statements of Parent Company
The Company provided disclosures of the Condensed Financial Statements of Yum China Holdings, Inc. (“the Parent Company”) in Schedule I pursuant to the requirements of Rule 5-04(c) of Regulation S-X, in connection with considerations for restricted net assets of consolidated subsidiaries (see Note 13 for additional information).
The Condensed Financial Statements of the Parent Company have been prepared using the same accounting policies as set out in the Consolidated Financial Statements and the equity method has been adopted to account for investment in subsidiaries based on Accounting Standards Codification Topic 323, Investments – Equity Method and Joint Ventures. The above Condensed Financial Statements of the Parent Company should be read in conjunction with the Company’s Consolidated Financial Statements on Form 10-K.
The Company provides full guarantee to certain subsidiary under a credit facility of$100 million. As the credit facility was undrawn as of December 31, 2025, there wasno outstanding borrowing. Other than above, the Parent Company did not have material contingencies, long-term obligations and guarantees as of December 31, 2025 and 2024, except for those disclosed in the Consolidated Financial Statements.
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