YUM — what changed in the latest 10-Q
A section-by-section comparison of YUM's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-05 vs the prior 10-Q · 2026-05-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +69 | −45 | ~9 | 52 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~3 | 4 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +2 | −3 | ~5 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-05
In 2025, we began a review of strategic options for the Pizza Hut brand. The objective of the review was to create value for YUM, Pizza Hut and its franchise partners by determining the optimal approach to best capitalize on Pizza Hut's structural advantages — strong brand equity, experienced franch…
Certain General and administrative expenses allocations between KFC Division and Corporate and Unallocated for the prior periods have been restated to be comparable with the allocations for the quarter and year to date ended June 30, 2026.
System Sales, ex FXSame-Store SalesUnitsGAAP Operating ProfitCore Operating Profit
•Foreign currency translation favorably impacted Divisional Operating Profit by $16 million and $41 million for the quarter and year to date ended June 30, 2026, respectively.
•Gross unit openings for the quarter were 1,053 units resulting in 481 net new units.
Text removed vs the prior filing · source: 10-Q · 2026-05-06
•Foreign currency translation positively impacted Divisional Operating Profit by $25 million for the quarter ended March 31, 2026.
•Gross unit openings for the quarter were 1,030 units resulting in 400 net new units.
Franchise contributions for advertising and other services418 395 6
(a)See Note 3 for the number of shares used in this calculation.
(d)The below table includes the detail of Special Items Tax (Benefit) Expense:
Other information
Text added vs the prior filing · source: 10-Q · 2026-08-05
(1)On May 21, 2026, Tracy Skeans, Chief Operating Officer and Chief People & Culture Officer, modified a trading arrangement she had previously adopted with respect to the sale of securities of the Company's common stock (a "Rule 10b5-1 Trading Plan"). Ms. Skeans' initial Rule 10b5-1 Trading Plan wa…
(3)Represents the number of shares of common stock underlying the stock appreciation rights awards specified in the modified plan. The actual number of shares of common stock to be received and sold following the exercise of the awards will depend upon the appreciation in the value of the awards and…
Text removed vs the prior filing · source: 10-Q · 2026-05-06
Exercise of Stock Appreciation Rights and Sale of Resulting Shares of Common Stock
(2)Represents the target number of common shares underlying Performance Share Units specified in the Plan. The actual number of shares received and sold following distribution will depend on the target quantity adjusted based on performance multipliers. The shares distributed may be equal to, greate…
(3)Represents the number of shares of common stock underlying the stock appreciation rights awards specified in the plan. The actual number of shares of common stock to be received and sold following the exercise of the awards will depend upon the appreciation in the value of the awards and the numb…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice