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Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Total revenues $ 1,048 $ 1,400 $ 2,273 $ 2,666
Operating costs and expenses:        
Cost of sales 339 453 738 859
Franchise and property expenses 134 135 260 268
Selling, general and administrative expenses 295 316 620 628
(Income) loss from equity method investments 16 2 18 0
Other operating expenses (income), net 21 3 5 (14)
Total operating costs and expenses 805 909 1,641 1,741
Income from operations 243 491 632 925
Interest expense, net 128 137 247 269
Income before income taxes 115 354 385 656
Income tax (benefit) expense (49) 97 (3) 153
Net income 164 257 388 503
Net income attributable to noncontrolling interests 58 115 138 226
Net income attributable to common shareholders $ 106 $ 142 $ 250 $ 277
Earnings per common share        
Basic (in usd per share) $ 0.35 $ 0.56 $ 0.83 $ 1.09
Diluted (in usd per share) $ 0.35 $ 0.55 $ 0.83 $ 1.07
Weighted average shares outstanding        
Basic (in shares) 301 255 300 254
Diluted (in shares) 469 469 469 468
Sales        
Revenues:        
Sales $ 406 $ 589 $ 909 $ 1,111
Franchise and property revenues        
Revenues:        
Total revenues $ 642 $ 811 $ 1,364 $ 1,555