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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues    
Total Revenues $ 1,598 $ 1,645
Costs and Expenses, Net    
Company restaurant expenses 400 403
General and Administrative Expense 286 282
Franchise and property expenses 31 36
Franchise advertising and other services expense 367 395
Refranchising (gain) loss (5) (4)
Other (income) expense (1) 10
Total costs and expenses, net 1,078 1,122
Operating Profit 520 523
Investment (income) expense, net [1] 22 24
Other pension (income) expense (2) (2)
Interest expense, net 117 130
Income Before Income Taxes 383 371
Income tax provision 69 71
Net Income $ 314 $ 300
Basic Earnings Per Common Share $ 1.11 $ 1.07
Diluted Earnings Per Common Share 1.10 1.05
Dividends Declared Per Common Share $ 0.67 $ 0.605
Company Sales    
Revenues    
Revenues $ 474 $ 474
Franchise and property revenues    
Revenues    
Revenues 757 770
Franchise contributions for advertising and other services    
Revenues    
Revenues $ 367 $ 401
[1] Includes changes in the value of our investment in Devyani International Limited (see Note 12).