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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Total Revenues $ 1,198 $ 1,310 $ 2,461 $ 2,564
Costs and Expenses, Net        
Cost of Goods and Services Sold 349 286 647 558
Franchisor Costs 36 38 94 81
General and Administrative Expense 259 198 467 409
Cooperative Advertising Expense 264 315 574 616
Refranchising (gain) loss (8) (4) (21) (10)
Other (income) expense (2) 6 150 6
Total costs and expenses, net 898 839 1,911 1,660
Operating Profit 300 471 550 904
Other investment (income) expense, net [1] (91) (25) (57) (9)
Other pension (income) expense 2 0 5 3
Interest expense, net 132 119 250 234
Income Before Income Taxes 257 377 352 676
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 257 377 352 676
Income Tax Expense (Benefit) 51 88 63 125
Net Income $ 206 $ 289 $ 289 $ 551
Earnings Per Share, Basic $ 0.68 $ 0.94 $ 0.96 $ 1.79
Diluted Earnings Per Common Share 0.67 0.92 0.94 1.75
Dividends Declared Per Common Share $ 0.47 $ 0.42 $ 0.94 $ 0.84
Product [Member]        
Revenues        
Revenues $ 403 $ 359 $ 758 $ 692
Franchise [Member]        
Revenues        
Revenues 525 633 1,121 1,245
Advertising [Member]        
Revenues        
Revenues $ 270 $ 318 $ 582 $ 627
[1]
(b)
Includes changes in the value of Grubhub, Inc. common stock and other investments (see Note 13).