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Leasing Arrangements (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Detail of Rent Expense

The following table provides detail of rent expense:

In millions			2020						2019						2018
Restaurants			$	1,399.5					$	1,530.4					$	1,433.9
Other			79.8						76.4						87.9
Total rent expense			$	1,479.3					$	1,606.8					$	1,521.8

Schedule of Maturites of Operating Lease Liabilities

As of December 31, 2020, maturities of lease liabilities for our lease portfolio were as follows:

In millions			Total *
2021			$	1,230.7
2022			1,197.7
2023			1,159.8
2024			1,124.0
2025			1,082.1
Thereafter			14,295.7
Total lease payments			20,090.0
Less: imputed interest			(6,067.2)
Present value of lease liability			$	14,022.8

*    Total lease payments include option periods that are reasonably assured of being exercised. See contractual cash outflows for leases within the Contractual Obligations and Commitments section on page 24.

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
2021						$	1,586.8					$	1,486.0					$	3,072.8
2022						1,526.5						1,428.1						2,954.6
2023						1,472.8						1,362.0						2,834.8
2024						1,433.0						1,310.2						2,743.2
2025						1,394.1						1,247.7						2,641.8
Thereafter						10,908.6						9,266.4						20,175.0
Total minimum payments						$	18,321.8					$	16,100.4					$	34,422.2

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- References

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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=121609121&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

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-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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-Publisher FASB
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