XML 56 R28.htm IDEA: XBRL DOCUMENT

Leasing Arrangements (Tables)

12 Months Ended

Dec. 31, 2019

The following table provides detail of rent expense:



In millions	2019		2018		2017
Restaurants	$	1,530.4	$	1,433.9	$	1,562.5
Other	76.4		87.9		82.0
Total rent expense	$	1,606.8	$	1,521.8	$	1,644.5

Schedule of Maturites of Operating Lease Liabilities

As of December 31, 2019, maturities of lease liabilities for our operating leases were as follows:



In millions	Total *
2020	$	1,161.9
2021	1,132.8
2022	1,091.4
2023	1,052.6
2024	1,010.3
Thereafter	13,573.6
Total lease payments	19,022.6
Less: imputed interest	(5,643.8		)
Present value of lease liability	$	13,378.8

Total lease payments include option periods that are reasonably assured of being exercised. See contractual cash outflows for operating leases within the Contractual Obligations and Commitments section on page 19.

Schedule of Future Minimum Rental Payments for Operating Leases

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



In millions	Owned sites			Leased sites		Total
2020		$	1,558.5	$	1,449.8	$	3,008.3
2021		1,501.4		1,382.5		2,883.9
2022		1,439.3		1,310.5		2,749.8
2023		1,384.8		1,246.4		2,631.2
2024		1,344.4		1,196.7		2,541.1
Thereafter		11,155.2		9,354.5		20,509.7
Total minimum payments		$	18,383.6	$	15,940.4	$	34,324.0

As of December 31, 2018, prior to the adoption of ASC 842, 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.