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Short-term Borrowings and Long-term Debt | 3 Months Ended
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Mar. 31, 2020
Debt Disclosure [Abstract] |
Short-term Borrowings and Long-term Debt | Short-term Borrowings and Long-term Debt
Short-term Borrowings |  | 3/31/2020 |  | 12/31/2019 |
Current maturities of long-term debt |  | $ | 440 |  |  | $ | 437 |
Other |  | 17 |  |  | 4 |
|  | 457 |  |  | 441 |
Less current portion of debt issuance costs and discounts |  | (10 | ) |  | (10 | )
Short-term borrowings |  | $ | 447 |  |  | $ | 431 |
Long-term Debt |  |  |  |
Securitization Notes |  | $ | 2,891 |  |  | $ | 2,898 |
Subsidiary Senior Unsecured Notes |  | 2,850 |  |  | 2,850 |
Revolving Facility |  | 950 |  |  | — |
Term Loan A Facility |  | 456 |  |  | 463 |
Term Loan B Facility |  | 1,931 |  |  | 1,935 |
YUM Senior Unsecured Notes |  | 2,425 |  |  | 2,425 |
Other |  | 10 |  |  | — |
Finance lease obligations |  | 67 |  |  | 77 |
|  | $ | 11,580 |  |  | $ | 10,648 |
Less debt issuance costs and discounts |  | (81 | ) |  | (80 | )
Less current maturities of long-term debt |  | (440 | ) |  | (437 | )
Long-term debt |  | $ | 11,059 |  |  | $ | 10,131 |
Details of our short-term borrowings and long-term debt as of December 31, 2019 can be found within our 2019 Form 10-K. Cash paid for interest during both the quarters ended March 31, 2020 and 2019 was $72 million. On March 24, 2020 we borrowed $525 million under our Revolving Facility in order to increase our liquidity position in light of the impacts on our business from the COVID-19 pandemic. This borrowing, together with $425 million borrowed under the Revolving Facility on March 18, 2020 to fund amounts associated with the acquisition of The Habit Restaurants, Inc., resulted in an aggregate of $950 million outstanding under the Revolving Facility as of March 31, 2020. YUM Senior Unsecured Note Issuance Subsequent to the end of the first quarter, on April 1, 2020, YUM! Brands, Inc. issued $600 million aggregate principal amount of 7.75% YUM Senior Unsecured Notes due April 1, 2025 (the “2025 Notes”). The net proceeds from the issuance were used to pay the fees and expenses of the offering with remaining amounts to be used for general corporate purposes. Interest on the 2025 Notes is payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2020. The indenture governing the 2025 Notes contains covenants and events of default that are customary for debt securities of this type, including cross-default provisions whereby the acceleration of the maturity of any of our indebtedness in a principal amount of $100 million or more or the failure to pay the principal of such indebtedness at its stated maturity will constitute an event of default under the 2025 Notes unless such indebtedness is discharged, or the acceleration of the maturity of that indebtedness is annulled, within 30 days after notice.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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