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Leasing Arrangements (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2019

Dec. 31, 2018

Leases [Abstract]

Schedule of Rent Expense

The following table provides detail of rent expense:

	Quarters Ended								Six Months Ended
	June 30,								June 30,
In millions	2019				2018				2019				2018
Restaurants	$	379.7			$	358.3			$	757.9			$	718.1
Other	18.2				25.4				37.9				44.2
Total rent expense	$	397.9			$	383.7			$	795.8			$	762.3

Schedule of Maturities of Operating Lease Liabilities

As of June 30, 2019, maturities of lease liabilities for our operating leases were as follows:

In millions	Total *
2019	$	572.9
2020	1,114.6
2021	1,070.3
2022	1,025.2
2023	990.0
Thereafter	13,771.5
Total lease payments	$	18,544.5
Less: imputed interest	(5,905.7		)
Present value of lease liability	$	12,638.8

*

Total lease payments include option periods that are reasonably assured of being exercised.

Schedule of Future Minimum Rental Payments for Operating Leases

As of June 30, 2019, future gross minimum rent payments due to the Company under existing conventional franchise arrangements were:

In millions		Owned sites				Leased sites				Total
2019		$	788.8			$	727.2			$	1,516.0
2020		1,534.5				1,405.5				2,940.0
2021		1,476.9				1,335.6				2,812.5
2022		1,412.7				1,262.7				2,675.4
2023		1,357.7				1,201.1				2,558.8
Thereafter		12,161.4				9,689.3				21,850.7
Total minimum payments		$	18,732.0			$	15,621.4			$	34,353.4

As of December 31, 2018, future minimum payments required under existing operating leases with initial terms of one year or more were:

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

*

Future minimum payments exclude option periods that have not yet been exercised.

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- References

No definition available.

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- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980

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- Definition

Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 50
-Paragraph 2
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- Definition

Tabular disclosure of rental expense from operating leases for each period for which an income statement is presented with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

+ References

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