v2.4.0.6
Fair Value Disclosures (Details) (USD $)
In Millions, unless otherwise specified
 3 Months Ended 3 Months Ended 3 Months Ended
Mar. 24, 2012
Mar. 19, 2011
Dec. 31, 2011
Dec. 25, 2010
Mar. 24, 2012
Level 2
Mar. 24, 2012
Recurring basis
Dec. 31, 2011
Recurring basis
Mar. 24, 2012
Recurring basis
Level 1
Dec. 31, 2011
Recurring basis
Level 1
Mar. 24, 2012
Recurring basis
Level 2
Foreign Currency Forwards
Dec. 31, 2011
Recurring basis
Level 2
Foreign Currency Forwards
Mar. 24, 2012
Recurring basis
Level 2
Interest Rate Swaps
Dec. 31, 2011
Recurring basis
Level 2
Interest Rate Swaps
Mar. 24, 2012
Unallocated Amount to Segment [Member]
Mar. 19, 2011
Unallocated Amount to Segment [Member]
Mar. 24, 2012
U.S.
Mar. 19, 2011
U.S.
Mar. 24, 2012
PH
UK
Unallocated Amount to Segment [Member]
Mar. 19, 2011
LJS and AW
Mar. 24, 2012
Little Sheep Group Limited [Member]
Feb. 01, 2012
Little Sheep Group Limited [Member]
Mar. 19, 2011
Closures and impairment (income) expenses
LJS and AW
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]                                            
Fair Value, Level 1 to level 2 Transfers, Amount $ 0                                          
Fair Value, Level 2 to level 1 Transfers, Amount 0                                          
Derivative assets (liabilites), net 24 32 34 45           (3) 2 27 32                  
Other Investments               16 15                          
Total           40 49                              
Ownership percentage (in hundreths)                                       93.00% 27.00%  
Investment in unconsolidated affiliate at date of acquisition                                         107  
Gain upon acquisition of Little Sheep 74 0                                   74    
Refranchising (gain) loss (26) [1],[2] (2)                       (26) [3] (2) (45) [2] (1) 20        
Pre-tax losses recognized on business divestiture                                     68     66
Debt obligations, excluding capital leases, estimate of fair value         3,500                                  
Debt obligations, excluding capital leases, carrying amount $ 3,000                                          
[1] During the quarter ended September 3, 2011, we decided to refranchise or close all of our remaining company operated Pizza Hut dine-in restaurants in the UK market. While the asset group comprising approximately 350 stores we anticipate selling did not meet the criteria for held for sale classification as of September 3, 2011, our decision to sell was considered an impairment indicator. As such we reviewed the asset group for potential impairment and determined that its carrying value was not fully recoverable based upon our estimate of expected refranchising proceeds and holding period cash flows anticipated while we continue to operate the restaurants as company units. Accordingly, we wrote the asset group down to our estimate of its fair value, which was based on the sales price we would expect to receive from a buyer. This fair value determination considered current market conditions, trends in the Pizza Hut UK business, and prices for similar transactions in the restaurant industry and resulted in a non-cash write down of $74 million which was recorded to Refranchising (gain) loss. The decision to refranchise or close all remaining Pizza Hut dine-in restaurants in the UK was considered to be a goodwill impairment indicator. We determined that the fair value of our Pizza Hut UK reporting unit exceeded its carrying value and as such there was no goodwill impairment. Based on bids received in 2012, we recorded an additional non-cash pre-tax impairment charge of $20 million to Refranchising (gain) loss for the quarter ended March 24, 2012. The asset group continues not to meet all of the held for sale criteria as of March 24, 2012.These impairment charges decreased depreciation expense versus what would have otherwise been recorded by $3 million for the quarter ended March 24, 2012. Neither the impairment charges nor the depreciation reduction were allocated to the YRI segment, resulting in depreciation expense in the YRI segment results continuing to be recorded at the rate at which it was prior to these impairment charges being recorded for these restaurants.
[2] In the quarter ended March 24, 2012, U.S. Refranchising (gain) loss primarily relates to gains on the sales of Taco Bell restaurants.
[3] Includes U.S. refranchising gains of $45 million partially offset by an impairment charge of $20 million related to our Pizza Hut UK dine-in business for the quarter ended March 24, 2012. See Note 4.