Supplemental Balance Sheet Information

9 Months Ended

Sep. 30, 2022

Supplemental Balance Sheet Information Disclosure [Abstract]

Accounts and Notes Receivable, net

The Company’s receivables are primarily generated from ongoing business relationships with our franchisees as a result of franchise and lease agreements. Trade receivables consisting of royalties from franchisees are generally due within 30 days of the period in which the corresponding sales occur and are classified as Accounts and notes receivable, net in our Condensed Consolidated Balance Sheets. Accounts and notes receivable, net also includes receivables generated from advertising cooperatives that we consolidate.


	9/30/2022		12/31/2021
Accounts and notes receivable, gross	$	613	$	632
Allowance for doubtful accounts	(34)		(36)
Accounts and notes receivable, net	$	579	$	596

Property, Plant and Equipment, net


	9/30/2022		12/31/2021
Property, plant and equipment, gross	$	2,376	$	2,477
Accumulated depreciation and amortization	(1,262)		(1,270)
Property, plant and equipment, net	$	1,114	$	1,207

Assets held-for-sale totaled $228 million and $12 million as of September 30, 2022 and December 31, 2021, respectively, and are included in Prepaid expenses and other current assets in our Condensed Consolidated Balance Sheets. Liabilities held-for-sale totaled $82 million as of September 30, 2022, and are included in Accounts payable and other current liabilities in our Condensed Consolidated Balance Sheets as of September 30, 2022. KFC Russia assets held-for-sale accounted for $224 million including property, plant and equipment of $69 million, of the $228 million, while KFC Russia liabilities held-for-sale accounted for all of the $82 million as of September 30, 2022.


Other Assets	9/30/2022		12/31/2021
Operating lease right-of-use assets(a)	$	734	$	809

Franchise incentives	174		164
Investment in Devyani International Limited (See Note 12)	127		118
Other	394		396
Other assets	$	1,429	$	1,487

(a) Non-current operating lease liabilities of $721 million and $793 million as of September 30, 2022 and December 31, 2021, respectively, are included in Other liabilities and deferred credits in our Condensed Consolidated Balance Sheets.

Reconciliation of Cash and Cash Equivalents for Condensed Consolidated Statements of Cash Flows


	9/30/2022		12/31/2021
Cash and cash equivalents as presented in Condensed Consolidated Balance Sheets	$	410	$	486
Restricted cash included in Prepaid expenses and other current assets(a)	178		250
Restricted cash and restricted cash equivalents included in Other assets(b)	34		35
Cash and restricted cash related to KFC Russia included in assets held-for-sale	41		—
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents as presented in Condensed Consolidated Statements of Cash Flows	$	663	$	771

(a) Restricted cash within Prepaid expenses and other current assets reflects the cash related to advertising cooperatives which we consolidate that can only be used to settle obligations of the respective cooperatives and cash held in reserve for Taco Bell Securitization interest payments.

(b) Primarily trust accounts related to our self-insurance program.