Reportable Operating Segments (Tables)

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables summarize Revenues and Operating Profit for each of our reportable operating segments:

	Quarter ended
Revenues	2021		2020
KFC Division	$	625	$	566
Pizza Hut Division	251		235
Taco Bell Division	488		453
Habit Burger Grill Division	122		9
	$	1,486	$	1,263

	Quarter ended
Operating Profit	2021		2020
KFC Division	$	300	$	224
Pizza Hut Division	102		76
Taco Bell Division	178		144
Habit Burger Grill Division	—		(2)
Corporate and unallocated G&A expenses	(50)		(50)
Unallocated Company restaurant expenses	—		(1)
Unallocated Franchise and property expenses	—		(2)
Unallocated Refranchising gain (loss)	15		13
Unallocated Other income (expense) (See Note 5)	(2)		(152)
Operating Profit	$	543	$	250
Investment income (expense), net(a)	—		(34)
Other pension income (expense) (See Note 10)	(3)		(3)
Interest expense, net(b)	(131)		(118)
Income before income taxes	$	409	$	95

Our chief operating decision maker (“CODM”) does not consider the impact of Corporate and unallocated amounts when assessing Divisional segment performance. As such, we do not allocate such amounts to our Divisional segments for performance reporting purposes.

(a)Includes changes in the value of Grubhub, Inc. ("Grubhub") common stock and other investments. For the quarter ended March 31, 2020, we recognized investment expense of $22 million related to changes in fair value of our investment in Grubhub common stock. In the quarter ended September 30, 2020, we sold our investment in Grubhub.

(b)Includes fees expensed and unamortized debt issuance costs written off totaling $12 million related to the refinancing of the Credit Agreement during the quarter ended March 31, 2021 (see Note 11).