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Short-term Borrowings and Long-term Debt
 3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Short-term Borrowings and Long-term Debt Short-term Borrowings and Long-term Debt
Short-term Borrowings3/31/202212/31/2021
Current maturities of long-term debt$80 $75 
Less current portion of debt issuance costs and discounts(7)(7)
Short-term borrowings$73 $68 
Long-term Debt  
Securitization Notes$3,802 $3,811 
Subsidiary Senior Unsecured Notes750 750 
Revolving Facility174 — 
Term Loan A Facility750 750 
Term Loan B Facility1,485 1,489 
YUM Senior Unsecured Notes4,475 4,475 
Finance lease obligations64 64 
$11,500 $11,339 
Less debt issuance costs and discounts(88)(86)
Less current maturities of long-term debt(80)(75)
Long-term debt$11,332 $11,178 

Details of our Short-term borrowings and Long-term debt as of December 31, 2021 can be found within our 2021 Form 10-K.

On February 23, 2022, Yum! Brands, Inc. issued a notice of redemption for the $600 million aggregate principal amount of 7.75% YUM Senior Unsecured Notes due April 1, 2025 (the “2025 Notes”). The 2025 Notes were redeemed subsequent to the first quarter, on April 1, 2022, at an amount equal to 103.875% of the aggregate principal amount of the 2025 Notes, reflecting a $23 million “call premium”, plus accrued and unpaid interest to the date of redemption.

Also subsequent to the first quarter, on April 1, 2022, Yum! Brands, Inc. issued $1.0 billion aggregate principal amount of 5.375% YUM Senior Unsecured Notes due April 1, 2032 (the “April 2032 Notes”). The net proceeds from the April 2032 Notes were used to fund the redemption of the 2025 Notes discussed above and for general corporate purposes. The redemption of the 2025 Notes and issuance of the April 2032 Notes are not reflected in the table above.

Cash paid for interest during the quarter ended March 31, 2022, was $90 million. During the quarter ended March 31, 2021, fees expensed as well as previously recorded unamortized debt issuance costs written off totaling $12 million were recognized within Interest expense, net due to the refinancing of our Credit Agreement. Excluding these amounts associated with the Credit Agreement refinancing, cash paid for interest during the quarter ended March 31, 2021, was $88 million.