Yum China Holdings, Inc. (YUMC) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Net income	442	990	784	713	708	398	498	323
Depreciation and amortization	497	465	421	428	445	409	402	425
Stock-based compensation				26	24	26	16	14
Deferred taxes				16	33	62	-42	29
Change in working capital [+]	25	127	66	76	209	-76	-14	77
Accounts receivable				-9	-13	1	-54	-5
Inventories				-77	-23	-11	-96	61
Other current assets				-3	-22	-15	7	-8
Income taxes	9	9	1	-6	13	5	6	-2
Other	16	118	65	171	254	-56	123	31
Other operating activities	449	-451	-157	-74	-86	65	6	45
Cash from operations	1,413	1,131	1,114	1,185	1,333	884	866	913

Capital expenditures	679	689	419	-435	-470	-415	-436	-512
Purchases of property and equipment	679	689	419	-435	-470	-415	-436	-512
Acquisitions	23	115	288		-91	-25
Purchases of short-term investments, net				-490	76	-117	-83
Purchases of short-term investments				-1,024	-604	-596	-136	-40
Sales of short-term investments				534	680	479	53	40
Other cash from investing	-1,224	-1,659	-3,816	15	-67		48	19
Cash from investing	-522	-855	-3,109	-910	-552	-557	-471	-493

Cash dividends paid	202	203	95	-181	-161	-38
Issuance of common stock, net	-466	-75	2,187	-265	-307	-128
Other cash from financing	-580	-441	-224	-34	-50	-19	93	-216
Cash from financing	-844	-313	2,058	-480	-518	-185	93	-216

Free cash flow	2,092	1,820	1,533	750	863	469	430	401
Per share (diluted)	$4.92	$4.19	$3.81	$1.93	$2.18	$1.18	$1.17	$1.10

Cash paid for income taxes	204	255	170	255	208	232	182