Fair Value Disclosures (Tables)

12 Months Ended

Dec. 31, 2019

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.



			Fair Value
	Consolidated Balance Sheet	Level	2019		2018
Assets
Interest Rate Swaps	Prepaid expenses and other current assets	2	$	6	$	21
Foreign Currency Contracts	Prepaid expenses and other current assets	2	—		5
Interest Rate Swaps	Other assets	2	3		29
Investment in Grubhub Common Stock	Other assets	1	137		214
Other Investments	Other assets	1	43		27

Liabilities
Interest Rate Swaps	Other liabilities and deferred credits	2	71		23
Foreign Currency Contracts	Other liabilities and deferred credits	2	—		24

Fair Value Measurements and Total Losses, Non-Recurring Basis

During the years ended December 31, 2019 and December 31, 2018, we recognized non-recurring fair value measurements of $4 million and $1 million, respectively, related to restaurant-level impairment. Restaurant-level impairment charges are recorded in Other (income) expense and resulted primarily from our 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). 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, 2019 and December 31, 2018 is insignificant.