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Fair Value Disclosures (Tables)
 3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2018
Fair Value Disclosures [Abstract]    
Schedule of Short-term Borrowings and Long-term Debt
Short-term Borrowings
 
6/30/2018
 
12/31/2017

Current maturities of long-term debt
 
$
51

 
$
386

Other
 
8

 
—

 
 
$
59

 
$
386

Less current portion of debt issuance costs and discounts
 
(5
)
 
(11
)
Short-term borrowings
 
$
54

 
$
375

 
 
 
 
 
Long-term Debt
 
 
 
 
Securitization Notes
 
$
2,265

 
$
2,271

Subsidiary Senior Unsecured Notes
 
2,850

 
2,850

Revolving Facility
 
202

 
—

Term Loan A Facility
 
500

 
500

Term Loan B Facility
 
1,965

 
1,975

YUM Senior Unsecured Notes(a)
 
1,875

 
2,200

Capital lease obligations
 
95

 
105

 
 
$
9,752

 
$
9,901

Less debt issuance costs and discounts
 
(89
)
 
(86
)
Less current maturities of long-term debt
 
(51
)
 
(386
)
Long-term debt
 
$
9,612

 
$
9,429



(a)    During the first quarter of 2018, we repaid $325 million in YUM Senior Unsecured Notes that matured in March 2018. 		The following table presents the carrying value and estimated fair value of the Company’s debt obligations:

 
6/30/2018
 
12/31/2017
 
Carrying Value
 
Fair Value (Level 2)
 
Carrying Value
 
Fair Value (Level 2)
 
 
 
 
 
 
 
 
Securitization Notes(a)
$
2,265

 
 
$
2,348

 
 
$
2,271

 
 
$
2,367

 
Subsidiary Senior Unsecured Notes(b)
2,850
 
 
 
2,793
 
 
 
2,850
 
 
 
2,983
 
 
Term Loan A Facility(b)
500
 
 
 
500
 
 
 
500
 
 
 
503
 
 
Term Loan B Facility(b)
1,965
 
 
 
1,973
 
 
 
1,975
 
 
 
1,990
 
 
YUM Senior Unsecured Notes(b)
1,875
 
 
 
1,845
 
 
 
2,200
 
 
 
2,277
 
 
 
(a)
We estimated the fair value of the Securitization Notes by obtaining broker quotes from two separate brokerage firms that are knowledgeable about the Company’s Securitization Notes and, at times, trade these notes. The markets in which the Securitization Notes trade are not considered active markets.

(b)
We estimated the fair value of the YUM and Subsidiary Senior Unsecured Notes, Term Loan A Facility, and Term Loan B Facility using market quotes and calculations based on market rates.
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis   The following table presents fair values for those assets and liabilities measured at fair value on a recurring basis and the level within the fair value hierarchy in which the measurements fall.  No transfers among the levels within the fair value hierarchy occurred during the quarter and year to date ended June 30, 2018.
 
 
 
 
Fair Value
 
 
 
Level
 
6/30/2018
 
12/31/2017
 
Condensed Consolidated Balance Sheet
Interest Rate Swaps - Asset
 
2
 
18

 
9

 
Prepaid expenses and other current assets
Interest Rate Swaps - Asset
 
2
 
52

 
40

 
Other assets
Interest Rate Swaps - Liability
 
2
 
8

 
—

 
Other liabilities and deferred credits
Foreign Currency Contracts - Liability
 
2
 
33

 
46

 
Other liabilities and deferred credits
Foreign Currency Contracts - Asset
 
2
 
2

 
5

 
Prepaid expenses and other current assets
Investment in Grubhub Common Stock
 
1
 
291

 
—

 
Other assets
Other Investments
 
1
 
29

 
29

 
Other assets