YUM! VISION & STRATEGY
Yum! Brands is committed to continuing the success realized during our first ten years. Our success has only just begun as we look forward to the future, one which promises a long runway for growth, especially on an international level. We maintain a consistent commitment to deliver at least 10% EPS growth annually. With nearly 38,000 restaurants in over 120 countries and territories, Yum! Brands' international growth sees no signs of stopping as we continue to enter international markets, introducing people around the world to our winning brands.
The Yum! system includes four operating segments: U.S., International (Yum! Restaurants International), China and India Divisions. Outside the United States in 2012, the Yum! system opened approximately five new restaurants each day of the year, making it a leader in international retail development. At Yum! we're building a vibrant global business by focusing on four key business strategies: Build leading brands across China in every significant category Drive aggressive international expansion and build strong brands everywhere Dramatically improve U.S. brand positions, consistency and returns Drive industry-leading, long-term shareholder and franchisee value Results for 2012 once again affirmed our consistent record of success with 13% Earnings Per Share (EPS) growth, which marks the eleventh straight year we delivered at least 13% growth and exceeded our 10% EPS growth target. For the full year 2012, we opened 1,976 new restaurants outside the U.S. Importantly, we achieved Return on Investment Capital (ROIC) of 22%+ and continued to be an industry leader. We're proud of the unique culture we've built, one that's filled with energy, opportunity, and fun. We believe in our people, trust in their positive intentions, encourage ideas from everyone, and have actively developed a workforce that is diverse in style and background. Yum! is a place where anyone can, and does, make a difference.
Recognition is an integral part of our culture — we celebrate things big and small. In fact, "We love celebrating the achievement of others and have lots of fun doing it!" is one of our How We Win Together2 principles and the reason our culture is brimming with positive energy, teamwork, and fun. [pic]We believe that our customers' experience will never exceed that of our team members. For that reason, our Dynasty Model starts with our people. We know that people don't just play a role in our success – they are the reason for our success. Our corporate values – what we call our How We Win Together principles – are built around a "People Capability First" philosophy and lay the groundwork for the way we team together every day. Chairman and CEO David Novak personally models a recognition culture in a light hearted way with his own "Yum! Award" — a set of chomping dentures with legs given to all those who "walk the talk" of leadership. All leaders in the company have their own personal recognition awards, which has resulted in such highly prestigious honors as the "Big Cheese" hat recognition at Pizza...