Fair Value Disclosures (Tables)

6 Months Ended

Jun. 30, 2023

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:

	6/30/2023				12/31/2022
	Carrying Value		Fair Value (Level 2)		Carrying Value		Fair Value (Level 2)
Securitization Notes(a)	$	3,753	$	3,296	$	3,772	$	3,273
Subsidiary Senior Unsecured Notes(b)	750		729		750		731
Term Loan A Facility(b)	727		723		736		729
Term Loan B Facility(b)	1,466		1,458		1,474		1,459
YUM Senior Unsecured Notes(b)	4,875		4,605		4,875		4,473

(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.

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

			Fair Value
	Condensed Consolidated Balance Sheet	Level	6/30/2023		12/31/2022
Assets
Investments	Other assets	1	$	124	$	118
Investments	Other assets	3	5		5
Interest Rate Swaps	Prepaid expenses and other current assets	2	33		26
Interest Rate Swaps	Other assets	2	14		16