XML 58 R43.htm IDEA: XBRL DOCUMENT

Fair Value Disclosures (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Measurements, Recurring Basis

The following table presents fair values for those assets and liabilities measured at fair value on a recurring basis and the level within the fair value hierarchy in which the measurements fall. No transfers among the levels within the fair value hierarchy occurred during the years ended December 31, 2016 or December 26, 2015.



		Fair Value
	Level	2016		2015		Consolidated Balance Sheet
Interest Rate Swaps - Liability	2	$	3	$	—	Accounts payable and other current liabilities
Interest Rate Swaps - Asset	2	—		2		Prepaid expenses and other current assets
Interest Rate Swaps - Asset	2	47		—		Other assets
Foreign Currency Contracts - Asset	2	7		—		Prepaid expenses and other current assets
Foreign Currency Contracts - Asset	2	8		19		Other assets
Other Investments	1	24		21		Other assets

Fair Value Measurements and Total Losses, Non-Recurring Basis

The following table presents expense recognized from all non-recurring fair value measurements during the years ended December 31, 2016 and December 26, 2015. These amounts exclude fair value measurements made for assets that were subsequently disposed of prior to those respective year-end dates. The remaining net book value of restaurant assets measured at fair value during the years ended December 31, 2016 and December 26, 2015 is insignificant.



	2016		2015
Aircraft impairment^(a)	$	3	$	—
Restaurant-level impairment^(b)	8		10
Total	$	11	$	10


(a)	During 2016, we made the decision to dispose of a corporate aircraft. The loss associated with this planned sale reflects the shortfall of the expected proceeds, less any selling costs, over the carrying value of the aircraft. The expected proceeds are based on actual bids received from potential buyers for similar assets (Level 2).

(b)

Restaurant-level impairment charges are recorded in Closures and impairment (income) expenses and resulted primarily from our semi-annual impairment evaluation of long-lived assets of individual restaurants that were being operated at the time of impairment and had not been offered for refranchising. The fair value measurements used in these impairment evaluations were based on discounted cash flow estimates using unobservable inputs (Level 3).