Yum Brands Inc was incorporated under the laws of the state of North Carolina in 1997. The Company, through the three concepts of KFC, Pizza Hut and Taco Bell, develops, operates, franchises and licenses a system of restaurants which prepare, package and sell a menu of competitively priced food items. It consists of five segments YUM China (China Division), YUM India (India Division), The KFC Division, The Pizza Hut and The Taco Bell Division. YUM China includes all operations in mainland China. YUM India includes all operations in India, Bangladesh, Nepal and Sri Lanka. The KFC Division includes all operations of the KFC concept outside of China Division and India Division. The Pizza Hut Division includes all operations of the Pizza Hut concept outside of China Division and India Division. The Taco Bell Division includes all operations of the Taco Bell concept outside of India Division. Its trademarks include Kentucky Fried Chicken, KFC, Pizza Hut and Taco Bell. The retail food industry, in which the Company's Concepts compete, is made up of supermarkets, supercenters, warehouse stores, convenience stores, coffee shops, snack bars, delicatessens and restaurants (including the QSR segment), and is intensely competitive with respect to food quality, price, service, convenience, location and concept. The Company and its U.S. operations are subject to various federal, state and local laws affecting its business, including laws and regulations concerning information security, labor, health, sanitation and safety.
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