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Consolidated Statements of Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues      
Total revenues $ 5,652 $ 5,597 $ 5,688
Costs and Expenses, Net      
Company restaurant expenses 1,506 1,235 1,634
General and administrative expenses 1,064 917 895
Franchise and property expenses 145 180 188
Franchise advertising and other services expense 1,314 1,368 1,208
Refranchising (gain) loss (34) (37) (540)
Other (income) expense 154 4 7
Total costs and expenses, net 4,149 3,667 3,392
Operating Profit 1,503 1,930 2,296
Investment (income) expense, net [1] (74) 67 (9)
Other Pension (income) expense [1] 14 4 14
Interest expense, net [1] (543) (486) (452)
Income before income taxes 1,020 1,373 1,839
Income tax provision 116 79 297
Net Income $ 904 $ 1,294 $ 1,542
Basic Earnings Per Common Share (in dollars per share) $ 2.99 $ 4.23 $ 4.80
Diluted Earnings Per Common Share (in dollars per share) 2.94 4.14 4.69
Dividends Declared Per Common Share (in dollars per share) $ 1.88 $ 1.68 $ 1.44
Company Sales      
Revenues      
Revenue from Contract with Customer, Excluding Assessed Tax $ 1,810 $ 1,546 $ 2,000
Franchise and property revenue [Member]      
Revenues      
Revenue from Contract with Customer, Excluding Assessed Tax 2,510 2,660 2,482
Franchise contributions for advertising and other services      
Revenues      
Revenue from Contract with Customer, Excluding Assessed Tax $ 1,332 $ 1,391 $ 1,206
[1] Amounts have not been allocated to any segment for performance reporting purposes.