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Short-term Borrowings and Long-term Debt (Tables)
 3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Schedule of 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



The following table presents the carrying value and estimated fair value of the Company’s debt obligations:

 
3/31/2020
 
12/31/2019
 
Carrying Value
 
Fair Value (Level 2)
 
Carrying Value
 
Fair Value (Level 2)
 
 
 
 
 
 
 
 
Securitization Notes(a)
$
2,891

 
$
2,771

 
$
2,898

 
$
3,040

Subsidiary Senior Unsecured Notes(b)
2,850

 
2,829

 
2,850

 
3,004

Term Loan A Facility(b)
456

 
421

 
463

 
464

Term Loan B Facility(b)
1,931

 
1,792

 
1,935

 
1,949

YUM Senior Unsecured Notes(b)
2,425

 
2,350

 
2,425

 
2,572

 
(a)
We estimated the fair value of the Securitization Notes by obtaining broker quotes from two separate brokerage firms that are knowledgeable about and, at times, trade these notes. The markets in which the Securitization Notes trade are not considered active markets.

(b)
We estimated the fair value of the YUM and Subsidiary Senior Unsecured Notes, Term Loan A Facility, and Term Loan B Facility using market quotes and calculations based on market rates.