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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 19, 2016
Mar. 21, 2015
Cash Flows - Operating Activities    
Net Income - including noncontrolling interests $ 395 $ 361
Depreciation and amortization 136 139
Closures and impairment (income) expenses 3 3
Refranchising (gain) loss (7) (10)
Contributions to defined benefit pension plans (2) (76)
Deferred income taxes (25) (29)
Equity income from investments in unconsolidated affiliates (16) (9)
Excess tax benefits from share-based compensation (11) (19)
Share-based compensation expense 13 15
Changes in accounts and notes receivable 33 3
Changes in inventories 17 21
Changes in prepaid expenses and other current assets 0 (27)
Changes in accounts payable and other current liabilities 66 113
Changes in income taxes payable 95 51
Other, net (38) (20)
Net Cash Provided by Operating Activities 659 516
Cash Flows - Investing Activities    
Capital spending (160) (227)
Changes in short-term investments, net (51) (24)
Proceeds from refranchising of restaurants 9 22
Other, net 1 33
Net Cash Used in Investing Activities (201) (196)
Cash Flows - Financing Activities    
Repayments of long-term debt (2) (3)
Short-term borrowings by original maturity    
More than three months - proceeds 1,400 0
More than three months - payments 0 0
Three months or less, net 0 0
Revolving credit facilities, three months or less, net (524) 53
Repurchase shares of Common Stock (925) (124)
Excess tax benefits from share-based compensation 11 19
Employee stock option proceeds 1 10
Dividends paid on Common Stock (192) (178)
Other, net (12) (23)
Net Cash Used in Financing Activities (243) (246)
Effect of Exchange Rates on Cash and Cash Equivalents (18) 23
Net Increase in Cash and Cash Equivalents 197 97
Cash and Cash Equivalents - Beginning of Period 737 578
Cash and Cash Equivalents - End of Period $ 934 $ 675