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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues        
Total Revenues $ 1,602 $ 1,198 $ 3,088 $ 2,461
Costs and Expenses, Net        
Company restaurant expenses 417 349 809 647
General and Administrative Expense 230 259 436 467
Franchise and property expenses 27 36 50 94
Franchise advertising and other services expense 372 264 715 574
Refranchising (gain) loss (7) (8) (22) (21)
Other (income) expense (4) (2) (10) 150
Total costs and expenses, net 1,035 898 1,978 1,911
Operating Profit 567 300 1,110 550
Investment (income) expense, net (1) (91) (1) (57)
Other pension (income) expense 2 2 5 5
Interest expense, net 159 132 290 250
Income Before Income Taxes 407 257 816 352
Income tax provision 16 51 99 63
Net Income $ 391 $ 206 $ 717 $ 289
Basic Earnings Per Common Share $ 1.31 $ 0.68 $ 2.39 $ 0.96
Diluted Earnings Per Common Share 1.29 0.67 2.35 0.94
Dividends Declared Per Common Share $ 0.50 $ 0.47 $ 1.00 $ 0.94
Product [Member]        
Revenues        
Revenues $ 520 $ 403 $ 996 $ 758
Franchise [Member]        
Revenues        
Revenues 706 525 1,364 1,121
Advertising [Member]        
Revenues        
Revenues $ 376 $ 270 $ 728 $ 582