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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues        
Total Revenues $ 1,606 $ 1,448 $ 4,694 $ 3,909
Costs and Expenses, Net        
Company restaurant expenses 421 399 1,230 1,046
General and Administrative Expense 253 257 689 724
Franchise and property expenses 31 13 81 107
Franchise advertising and other services expense 375 313 1,090 887
Refranchising (gain) loss 1 (9) (21) (30)
Other (income) expense (2) 4 (12) 154
Total costs and expenses, net 1,079 977 3,057 2,888
Operating Profit 527 471 1,637 1,021
Investment (income) expense, net (51) (10) (52) (67)
Other pension (income) expense 1 4 6 9
Interest expense, net 126 161 416 411
Income Before Income Taxes 451 316 1,267 668
Income tax provision (77) 33 22 96
Net Income $ 528 $ 283 $ 1,245 $ 572
Basic Earnings Per Common Share $ 1.78 $ 0.94 $ 4.17 $ 1.89
Diluted Earnings Per Common Share 1.75 0.92 4.10 1.86
Dividends Declared Per Common Share $ 0.50 $ 0.47 $ 1.50 $ 1.41
Company Sales        
Revenues        
Revenues $ 513 $ 486 $ 1,509 $ 1,244
Franchise and property revenues        
Revenues        
Revenues 716 639 2,080 1,760
Franchise contributions for advertising and other services        
Revenues        
Revenues $ 377 $ 323 $ 1,105 $ 905