We will no longer be providing an update on temporary store closures as we ended Q4 with less than 1% of our stores temporarily closed.
While the last two years have been the most challenging operating environment we've ever navigated, we exit 2021 stronger than ever with over 53,000 global restaurants.
System sales have grown over $5.5 billion, and operating profit has grown over $200 million.
Additionally, since 2019, we've added another iconic brand and closed on three technology acquisitions, all while launching our global Unlocking Opportunity Initiative with a $100 million commitment over five years investing in equity and inclusion, education and entrepreneurship, the cornerstones of our Recipe for Good.
In 2021, we opened 3,057 net new units, driven by 4,180 gross unit openings, with meaningful contributions from each of our brands, marking the strongest growth year in our history and setting an industry record for unit development.
Even as dining room sales recovered throughout the year, we continued to grow our digital sales that reached a record $22 billion in fiscal 2021, an increase of approximately 25% over 2020, suggesting a more permanent shift to digital channels.
We ended the year with over 45,000 restaurants offering delivery, representing more than a 25% increase year over year.
To begin, full year 2021 system sales grew 13% with same-store sales growth of 10% or 3% on a two-year basis and 6% unit growth.
Full year core operating profit increased 18%, driven by same-store sales growth and the impact of unit development throughout the year.
However, our sales momentum remained strong with continued global recovery as evidenced by our two-year global same-store sales excluding Asia up 10% on a two-year basis, accelerating sequentially from last quarter.
I'll begin with KFC, which accounts for 52% of our divisional operating profit.
KFC full year 2021 system sales grew 16%, driven by 11% same-store sales growth and 8% unit growth.
Q4 system sales increased 10% with 5% same-store sales growth or 3% on a two-year basis.
We continue to see ongoing recovery in emerging markets as evidenced by the fact that more than half of our 13 global KFC regions delivered system sales growth in excess of 25% for the full year.
KFC International Q4 same-store sales grew 6% or 2% on a two-year basis.
Q4 same-store sales grew 4% or 12% on a two-year basis.
The chicken sandwich continues to perform well for the business and now makes up roughly 9% of our sales mix as of Q4, a strong improvement from a 1% mix last year.
Next, Taco Bell, which accounts for 32% of our divisional operating profit.
1 in the Franchise 500 for the second year in a row, beating our peers, as well as impressive concepts in other industries.
Taco Bell full year 2021 system sales grew 13%, driven by 11% same-store sales growth and 5% unit growth.
Fourth quarter system sales grew 11% with same-store sales growth of 8% or 9% on a two-year basis, reflecting an acceleration from Q3.
Additionally, the team kept value front and center with the launch of a new Crave More Value Menu featuring the $2 burritos.
Moving on to Pizza Hut, which accounts for 16% of our divisional operating profit.
Full year 2021 system sales grew 6%, driven by 7% same-store sales growth and 4% unit growth.
Q4 system sales grew 4% with same-store sales growth of 3% or 2% on a two-year basis.
Pizza Hut International Q4 same-store sales grew 4% while same-store sales declined 3% on a two-year basis.
Pizza Hut U.S. Q4 same-store sales grew 1% or 10% on a two-year basis.
Lastly, the Habit Burger Grill achieved full year 2021 system sales growth of 24%, driven by a 16% same-store sales growth and 11% unit growth.
Q4 system sales increased 20% with 11% same-store sales growth or 5% on a two-year basis.
We announced science-based targets to reduce greenhouse gas emissions nearly 50% by 2030 and pledged to achieve net zero emissions by 2050.
We finished the year strong, opening a record-breaking 4,180 gross units or 3,057 net new units, resulting in 6% unit growth for full year 2021.
A robust 10% same-store sales growth helped us achieve 13% system sales growth, driving full year core operating profit growth of 18%.
System sales grew 9%, led by same-store sales growth of 5% or 4% on a two-year basis, accelerating from Q3.
To that end, full year 2021 Taco Bell company-owned restaurant margins were in line with our historical range of 23% to 24%, virtually unchanged relative to 2019 levels.
First, we recorded a $35 million pre-tax gain on our investment in Devyani International Limited.
We opened 1,678 gross units in the quarter or 1,259 on a net new unit basis, resulting in nearly 4,200 gross units opened for the full year, which is a record for Yum!
That equates to over 100,000 jobs created worldwide last year alone.
However, we continue to see broad-based strength across our portfolio, evidenced by over 2,500 restaurants opened outside of China this year.
In fact, we saw new restaurants built in over 110 countries this year, a step-up from prior years, signaling our development engine is diversified and stronger than ever.
Overall, KFC International opened over 2,400 gross units and nearly 2,000 net new units during 2021.
In the U.S., Taco Bell reached an impressive milestone, ending the year with over 7,000 restaurants and ample white space for future developments.
During the fourth quarter, Taco Bell celebrated más international expansion as Spain was the first market to surpass 100 units.
Finally, The Habit Burger Grill restarted their development engine this year with 23 net new units.
We expanded our digital ordering channels, including chat ordering via Tictuk, to nearly 2,000 stores at year-end, an increase of roughly 60% since our acquisition in the first quarter.
We also saw digital sales at KFC U.S. grow approximately 70% year over year, fueled by our delivery service channel and e-commerce platform that launched nationwide in early 2021.
Additionally, the Dragontail order and delivery platform is now live in 2,800 stores in 21 markets across KFC and Pizza Hut, up from 13 markets last quarter and nine markets from the end of 2020.
We ended the year with HutBot live in over 6,000 Pizza Hut locations in 70 markets.
When we acquired Kvantum, a leading AI-based consumer insights and marketing performance analytics business, in the first quarter, it was operating in 13 markets.
We have since tripled Kvantum's footprint to over 45 markets.
We ended the year with cash and cash equivalents of $486 million excluding restricted cash.
Capital expenditures, net of refranchising proceeds, were $55 million during the quarter and $145 million for the full year.
The full year consisted of $230 million in gross capex and $85 million in refranchising proceeds.
We paid a healthy quarterly dividend of $0.50 per share or approximately $600 million for the full year.
With respect to our share buyback program, during the quarter, we repurchased 5.6 million shares at an average share price of $128, totaling $720 million.
For the full year, we have repurchased 13 million shares at an average price of $122, totaling $1.6 billion.
We remain committed to maintaining our asset-light business model of at least a 98% franchise mix.
Capitalizing on these opportunities, we expect net capital expenditures for full year 2022 to be approximately $250 million, reflecting up to $350 million of gross capex and $100 million of refranchising proceeds.
But in the near term, new store investments may exceed refranchising by $50 million to $100 million annually, primarily driven by our strategy to accelerate growth of The Habit equity estate.
We were pleased to announce earlier this week an increase in our quarterly cash dividend of 14% to $0.57 per share in 2022.
I'm pleased to share that we expect to deliver full year growth in line with our long-term growth algorithm, which includes 2% to 3% same-store sales growth and 4% to 5% unit growth, culminating in mid- to high single-digit system sales growth leading to high single-digit core operating profit growth which excludes FX.
We expect our full year G&A to be approximately $1.1 billion but our G&A spend will return to a more balanced quarterly cadence relative to 2021.
Although it's difficult to forecast with precision at this time, we continue to believe 21% to 23% is the appropriate range, but there are factors that could move us toward the high end of the range.

Summary:
In 2021, we opened 3,057 net new units, driven by 4,180 gross unit openings, with meaningful contributions from each of our brands, marking the strongest growth year in our history and setting an industry record for unit development.
To begin, full year 2021 system sales grew 13% with same-store sales growth of 10% or 3% on a two-year basis and 6% unit growth.
Q4 system sales increased 10% with 5% same-store sales growth or 3% on a two-year basis.
Taco Bell full year 2021 system sales grew 13%, driven by 11% same-store sales growth and 5% unit growth.
Pizza Hut U.S. Q4 same-store sales grew 1% or 10% on a two-year basis.
Q4 system sales increased 20% with 11% same-store sales growth or 5% on a two-year basis.
We finished the year strong, opening a record-breaking 4,180 gross units or 3,057 net new units, resulting in 6% unit growth for full year 2021.
System sales grew 9%, led by same-store sales growth of 5% or 4% on a two-year basis, accelerating from Q3.
I'm pleased to share that we expect to deliver full year growth in line with our long-term growth algorithm, which includes 2% to 3% same-store sales growth and 4% to 5% unit growth, culminating in mid- to high single-digit system sales growth leading to high single-digit core operating profit growth which excludes FX.