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Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues:      
Total revenues $ 5,603 $ 5,357 $ 4,576
Operating costs and expenses:      
Cost of sales 1,813 1,818 1,850
Franchise and property expenses 540 422 478
Selling, general and administrative expenses 1,264 1,214 416
(Income) loss from equity method investments (11) (22) (12)
Other operating expenses (income), net (10) 8 109
Total operating costs and expenses 3,596 3,440 2,841
Income from operations 2,007 1,917 1,735
Interest expense, net 532 535 512
Loss on early extinguishment of debt 23 0 122
Income before income taxes 1,452 1,382 1,101
Income tax expense (benefit) 341 238 (134)
Net income 1,111 1,144 1,235
Net income attributable to noncontrolling interests 468 532 587
Preferred shares dividends 0 0 256
Gain on redemption of preferred shares 0 0 (234)
Net income attributable to common shareholders $ 643 $ 612 $ 626
Earnings per common share:      
Basic (in dollars per share) $ 2.40 $ 2.46 $ 2.64
Diluted (in dollars per share) $ 2.37 $ 2.42 $ 2.54
Weighted average shares outstanding:      
Basic (in shares) 268 249 237
Diluted (in shares) 469 473 477
Sales      
Revenues:      
Total revenues $ 2,362 $ 2,355 $ 2,390
Franchise and property revenues      
Revenues:      
Total revenues $ 3,241 $ 3,002 $ 2,186