Items Affecting Comparability of Net Income and Cash Flows (Tables)

3 Months Ended

Mar. 31, 2017

Mar. 31, 2016

Items Affecting Comparability of Net Income and Cash Flows [Abstract]

Impact of Change in Reporting Calendar [Table Text Block]

The impacts on our Financial Statements of retrospectively applying these changes are included below:

	Quarter ended March 31, 2016
	As Previously Reported		Adjustments			After Change in Reporting Calendar
Total Revenues	$	1,364	$	79		$	1,443
Operating profit	356		(6		)	350		(a)
Net Income from continuing operations	240		(14		)	226
Income from discontinued operations, net of tax	151		(13		)	138
Net Income	$	391	$	(27	)	$	364
Diluted EPS from continuing operations	$	0.57	$	(0.03	)	$	0.54
Diluted EPS from discontinued operations	0.36		(0.03		)	0.33
Diluted EPS	$	0.93	$	(0.06	)	$	0.87

(a)

Amount does not reconcile to our Condensed Consolidated Statements of Income due to the $1 million impact of retrospectively adopting a new accounting standard on Benefit Costs. See Note 1.

Facility Actions

Refranchising (Gain) Loss

The Refranchising (gain) loss by reportable segment is presented below. Given the size and volatility of refranchising initiatives, we do not allocate such gains and losses to our segments for performance reporting purposes.

During the quarter ended March 31, 2017 we refranchised 121 restaurants. We received $185 million in proceeds and recorded $111 million of net pre-tax refranchising gains related to refranchising activity during the quarter ended March 31, 2017.

	Quarter ended
	2017			2016
KFC Division	$	1		$	1
Pizza Hut Division	2			—
Taco Bell Division	(114		)	(1		)
Worldwide	$	(111	)	$	—