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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 26, 2015
Dec. 27, 2014
Cash Flows - Operating Activities      
Net Income $ 1,619 $ 1,293 $ 1,051
Depreciation and amortization 309 322 328
Refranchising (gain) loss (141) 23 (16)
Continuing Operations [Member]      
Cash Flows - Operating Activities      
Depreciation and amortization 309 322 328
Closures and impairment (income) expenses 14 15 18
Refranchising (gain) loss (141) 23 (16)
Contributions to defined benefit pension plans (41) (98) (18)
Deferred income taxes 27 (102) (46)
Excess tax benefit from share-based compensation (83) (47) (40)
Share-based compensation expense 80 46 45
Changes in accounts and notes receivable (46) (35) (21)
Changes in inventories 0 (3) (2)
Changes in prepaid expenses and other current assets 6 (13) 2
Changes in accounts payable and other current liabilities 17 93 23
Changes in income taxes payable 16 15 (135)
Other, net 52 61 73
Net Cash Provided by Operating Activities 1,204 1,213 1,217
Cash Flows - Investing Activities      
Capital spending (422) (461) (508)
Proceeds from refranchising of restaurants 346 219 83
Other, net 52 53 1
Net Cash Used in Investing Activities (24) (189) (424)
Cash Flows - Financing Activities      
Proceeds from long-term debt 6,900 0 0
Repayments of long-term debt (324) (261) (65)
Revolving credit facilities, three months or less, net (701) 285 416
Short-term borrowings by original maturity      
More than three months - proceeds 1,400 609 0
More than three months - payments (2,000) 0 0
Three months or less, net 0 0 0
Repurchase shares of Common Stock (5,402) (1,200) (820)
Excess tax benefit from share-based compensation 83 47 40
Dividends paid on Common Stock (744) (730) (669)
Debt issuance costs (86) 0 0
Other, net (92) (43) (13)
Net Cash Used in Financing Activities (677) (1,058) (739)
Effect of Exchange Rate on Cash and Cash Equivalents (25) 11 12
Net Increase (Decrease) in Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents - Continuing Operations 478 (23) 66
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents - Beginning of Year 334 357 291
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents - End of Year 812 334 357
Discontinued Operations [Member]      
Cash Flows - Operating Activities      
Income from discontinued operations, net of tax 625 [1] 357 45
Closures and impairment (income) expenses 57 [1] 64 517 [2]
Refranchising (gain) loss (12) [1] (13) (17)
Net Cash Provided by Operating Activities 829 931 832
Cash Flows - Investing Activities      
Net Cash Used in Investing Activities $ (287) $ (493) $ (512)
Short-term borrowings by original maturity      
Net transfers from discontinued operations 289 235 372
Net Cash Used in Financing Activities $ (292) $ (234) $ (375)
[1] Includes Yum China financial results from January 1, 2016 to October 31, 2016.
[2] During 2014, we recorded a $463 million non-cash impairment charge related to the investment in China's Little Sheep restaurant business. The tax benefit associated with these losses of $76 million and the losses allocated to the noncontrolling founding shareholder of $26 million resulted in a net impact of $361 million on Income from discontinued operations - YUM! Brands, Inc.