Fair Value Disclosures (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis

The following table presents the carrying value and estimated fair value of the Company’s debt obligations:

	2022				2021
	Carrying Value		Fair Value (Level 2)		Carrying Value		Fair Value (Level 2)
Securitization Notes(a)	$	3,772	$	3,273	$	3,811	$	3,872
Subsidiary Senior Unsecured Notes(b)	750		731		750		784
Term Loan A Facility(b)	736		729		750		748
Term Loan B Facility(b)	1,474		1,459		1,489		1,490
YUM Senior Unsecured Notes(b)	4,875		4,473		4,475		4,845

(a)    We estimated the fair value of the Securitization Notes using market quotes and calculations. The markets in which the Securitization Notes trade are not considered active markets.

(b)    We estimated the fair value of the YUM and Subsidiary Senior Unsecured Notes, Term Loan A Facility, and Term Loan B Facility using market quotes and calculations based on market rates.

Fair Value Measurements, Recurring Basis

The following table presents fair values for those assets and liabilities measured at fair value on a recurring basis and the level within the fair value hierarchy in which the measurements fall.  

			Fair Value
	Consolidated Balance Sheet	Level	2022		2021
Assets
Investments	Other assets	1	$	118	$	119
Investments	Other assets	3	5		5
Interest Rate Swaps	Prepaid expenses and other current assets	2	26		—
Interest Rate Swaps	Other assets	2	16		—
Liabilities
Interest Rate Swaps	Accounts Payable and other current liabilities	2	—		38
Interest Rate Swaps	Other liabilities and deferred credits	2	—		54