Putting “yum” on people’s faces around the world is the mission of YUM Brands, Inc. Yum was spun off from PepsiCo in 1997. A spin-off occurs when a company separates its operations into two or more distinct companies. The company was originally composed of KFC, Pizza Hut, and Taco Bell and was operated as a part of PepsiCo prior to the spin-off. In 2015, Yum! had total assets of $8.08 billion, long-term debt of $3.05 billion, and total liabilities of $7.10 billion. Yum!’s income before interest and taxes in 2015 was $1.92 billion. Its average interest rate on long-term debt was approximately 4.4 percent
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