Franchise Arrangements (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure Franchise Arrangements Additional Information [Abstract]

Revenues from Franchised Restaurants

Revenues from franchised restaurants consisted of:

In millions	2018		2017		2016
Rents	$	7,082.2	$	6,496.3	$	6,107.6
Royalties	3,886.3		3,518.7		3,129.9
Initial fees	44.0		86.5		89.4
Revenues from franchised restaurants	$	11,012.5	$	10,101.5	$	9,326.9

Future Minimum Payments

Future gross minimum rent payments due to the Company under existing conventional franchise arrangements are:

In millions	Owned sites			Leased sites		Total
2019		$	1,452.3	$	1,509.4	$	2,961.7
2020		1,417.1		1,438.5		2,855.6
2021		1,374.0		1,360.3		2,734.3
2022		1,322.8		1,275.0		2,597.8
2023		1,275.5		1,205.9		2,481.4
Thereafter		11,116.4		9,680.1		20,796.5
Total minimum payments		$	17,958.1	$	16,469.2	$	34,427.3

Future minimum payments required under existing operating leases with initial terms of one year or more are:

In millions	Restaurant			Other			Total *
2019		$	1,093.4		$	51.3	$	1,144.7
2020		1,032.1			51.0		1,083.1
2021		955.5			45.7		1,001.2
2022		873.8			35.7		909.5
2023		806.0			24.6		830.6
Thereafter		7,132.3			164.9		7,297.2
Total minimum payments		$	11,893.1		$	373.2	$	12,266.3

*

For sites that have lease escalations tied to an index, future minimum payments reflect the current index adjustments through December 31, 2018. In addition, future minimum payments exclude option periods that have not yet been exercised.