XML 54 R42.htm IDEA: XBRL DOCUMENT v3.23.2
Reportable Operating Segments (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Apr. 01, 2022
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Segment Reporting Information [Line Items]          
Revenues   $ 1,687 $ 1,636 $ 3,332 $ 3,183
Operating Profit   573 554 1,096 1,063
General and Administrative Expense   291 254 573 507
Company restaurant expenses   415 415 818 817
Franchise and property expenses   32 29 68 61
Refranchising (gain) loss   (17) (8) (21) (12)
Other (income) expense   5 (4) 15 (10)
Investment (income) expense, net [1]   (29) 15 (5) 8
Other pension income (expense)   1 (1) 3 (1)
Interest Income (Expense), Net [2]   (125) (148) (255) (266)
Income Before Income Taxes   478 390 849 788
Russia, Rubles          
Segment Reporting Information [Line Items]          
Other Nonoperating Income (Expense)     11 1 16
RUSSIAN FEDERATION          
Segment Reporting Information [Line Items]          
General and Administrative Expense         2
Gain (Loss) on Sale of Assets and Asset Impairment Charges   4      
Senior Unsecured Notes Due April 2025          
Segment Reporting Information [Line Items]          
Payment for Debt Extinguishment or Debt Prepayment Cost $ 23        
Write off of Deferred Debt Issuance Cost $ 5        
KFC Global Division [Member]          
Segment Reporting Information [Line Items]          
Revenues   682 677 1,369 1,337
Operating Profit   326 293 631 584
Pizza Hut Global Division [Member]          
Segment Reporting Information [Line Items]          
Revenues   242 235 496 479
Operating Profit   91 93 195 195
Taco Bell Global Division [Member]          
Segment Reporting Information [Line Items]          
Revenues   621 586 1,193 1,103
Operating Profit   228 215 432 400
Habit Division [Member]          
Segment Reporting Information [Line Items]          
Revenues   142 138 274 264
Operating Profit   3 (2) (2) (10)
Unallocated [Member]          
Segment Reporting Information [Line Items]          
General and Administrative Expense [3]   86 65 170 136
Franchise and property expenses [3]   1 4 2 4
Refranchising (gain) loss   (17) (8) (21) (12)
Other (income) expense [3]   5 (16) 9 (22)
Unallocated [Member] | RUSSIAN FEDERATION          
Segment Reporting Information [Line Items]          
General and Administrative Expense   3   4  
Franchise and property expenses   $ 1   2 4
Other (income) expense       $ 1  
KFC Russia          
Segment Reporting Information [Line Items]          
Other Nonoperating Income (Expense)     $ 9   $ 11
[1] Includes changes in the value of our investment in Devyani International Limited (see Note 12).
[2] Includes a $23 million call premium and $5 million of unamortized debt issuance costs written off related to the redemption of the 2025 Notes (as discussed in our 2022 Form 10-K) during the quarter ended June 30, 2022
[3] Our operating results presented herein reflect revenues from and expenses to support the Russian operations for KFC and Pizza Hut prior to the dates of sale or transfer (see Note 1), within their historical financial statement line items and operating segments. However, given our decision to exit Russia and our pledge to direct any future net profits attributable to Russia subsequent to the date of invasion to humanitarian efforts, we reclassed such net profits and losses subsequent to that date from the Division segment results in which they were earned to Unallocated Other income (expense). As a result, we reclassed net operating losses of $1 million from KFC Division Other income (expense) to Unallocated Other income (expense) during the year to date ended June 30, 2023, and net operating profit of $9 million and $11 million from Divisional Other income (expense) to Unallocated Other income (expense) during the quarter and year to date ended June 30, 2022, respectively. Additionally, we recorded a $4 million loss to Unallocated Other income (expense) during the quarter and year to date ended June 30, 2023 from the sale of our KFC Russia business.Also, included in Unallocated Other income (expense) were $1 million in foreign exchange losses attributable to fluctuations in the value of the Russian Ruble during the quarter and year to date ended June 30, 2023, and foreign exchange gains of $11 million and $16 million during the quarter and year to date ended June 30, 2022, respectively. Additionally, we recorded charges of $3 million and $4 million to Corporate and unallocated G&A expenses and $1 million and $2 million to Unallocated Franchise and property expenses during the quarter and year to date ended June 30, 2023, respectively, for certain expenses related to the disposition of the businesses and other costs related to our exit from Russia. We recorded similar charges of $2 million and $4 million to Corporate and Unallocated G&A expenses and Unallocated Franchise and property expenses, respectively, during the quarter and year to date ended June 30, 2022.