Items Affecting Comparability of Net Income and Cash Flows (Tables)

6 Months Ended

Jun. 30, 2017

Jun. 30, 2016

Items Affecting Comparability of Net Income and Cash Flows [Abstract]

Impact of Change in Reporting Calendar [Table Text Block]

The impacts on our Financial Statements of retrospectively applying these changes are included below:



	Quarter ended June 30, 2016
	As Previously Reported		Adjustments			After Change in Reporting Calendar
Total Revenues	$	1,477	$	32		$	1,509
Operating profit	408		7			415
Net Income from continuing operations	265		1			266
Income from discontinued operations, net of tax	74		(4		)	70
Net Income	$	339	$	(3	)	$	336

Diluted EPS from continuing operations	$	0.64	$	—		$	0.64
Diluted EPS from discontinued operations	0.17		—			0.17
Diluted EPS	$	0.81	$	—		$	0.81



	Year to date ended June 30, 2016
	As Previously Reported		Adjustments			After Change in Reporting Calendar
Total Revenues	$	2,841	$	111		$	2,952
Operating profit	764		1			765		^(a)
Net Income from continuing operations	505		(13		)	492
Income from discontinued operations, net of tax	225		(17		)	208
Net Income	$	730	$	(30	)	$	700

Diluted EPS from continuing operations	$	1.20	$	(0.02	)	$	1.18
Diluted EPS from discontinued operations	0.54		(0.04		)	0.50
Diluted EPS	$	1.74	$	(0.06	)	$	1.68

(a)

Amount does not reconcile to our Condensed Consolidated Statements of Income for the year to date ended June 30, 2016 due to the impact of retrospectively adopting a new accounting standard on Benefit Costs of $1 million. See Note 1.

Facility Actions

Refranchising (Gain) Loss

The Refranchising (gain) loss by reportable segment is presented below. Given the size and volatility of refranchising initiatives, our chief operating decision maker ("CODM") does not consider the impact of Refranchising (gain) loss when assessing segment performance. As such, we do not allocate such gains and losses to our segments for performance reporting purposes.

During the quarter ended June 30, 2017, we refranchised 244 restaurants. We received $136 million in proceeds and recorded $19 million of net pre-tax refranchising gains related to these transactions. During the year to date ended June 30, 2017, we refranchised 365 restaurants. We received $321 million in proceeds and recorded $130 million of net pre-tax refranchising gains related to these transactions.



	Quarter ended						Year to date
	2017			2016			2017			2016
KFC Division	$	41		$	—		42			1
Pizza Hut Division	11			(54		)	13			(54		)
Taco Bell Division	(71		)	—			(185		)	(1		)
Worldwide	$	(19	)	$	(54	)	$	(130	)	$	(54	)