Supplemental Balance Sheet Information

6 Months Ended

Jun. 30, 2023

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.


	6/30/2023		12/31/2022
Accounts and notes receivable, gross	$	702	$	685
Allowance for doubtful accounts	(46)		(37)
Accounts and notes receivable, net	$	656	$	648

Property, Plant and Equipment, net


	6/30/2023		12/31/2022
Property, plant and equipment, gross	$	2,466	$	2,454
Accumulated depreciation and amortization	(1,304)		(1,283)
Property, plant and equipment, net	$	1,162	$	1,171

Assets held-for-sale totaled $6 million and $190 million as of June 30, 2023 and December 31, 2022, respectively, and are included in Prepaid expenses and other current assets in our Condensed Consolidated Balance Sheets. Liabilities held-for-sale totaled $2 million and $65 million as of June 30, 2023 and December 31, 2022, respectively, and are included in Accounts payable and other current liabilities in our Condensed Consolidated Balance Sheets. Assets and liabilities held-for-sale as of December 31, 2022, primarily included the assets and liabilities of our KFC Russia business.


Other Assets	6/30/2023		12/31/2022
Operating lease right-of-use assets(a)	$	753	$	742

Franchise incentives	185		172
Investment in Devyani International Limited (See Note 12)	122		116
Other	280		294
Other assets	$	1,340	$	1,324

(a) Non-current operating lease liabilities of $744 million and $731 million as of June 30, 2023 and December 31, 2022, 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


	6/30/2023		12/31/2022
Cash and cash equivalents as presented in Condensed Consolidated Balance Sheets	$	437	$	367
Restricted cash included in Prepaid expenses and other current assets(a)	188		220
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	—		25
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents as presented in Condensed Consolidated Statements of Cash Flows	$	659	$	647

(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.