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Reportable Operating Segments (Tables) | 3 Months Ended
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Mar. 31, 2021
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following tables summarize Revenues and Operating Profit for each of our reportable operating segments:
| Quarter ended |  |
Revenues | 2021 |  | 2020 |  |  |  |
KFC Division | $ | 625 |  |  | $ | 566 |  |  |  |  |
Pizza Hut Division | 251 |  |  | 235 |  |  |  |  |
Taco Bell Division | 488 |  |  | 453 |  |  |  |  |
Habit Burger Grill Division | 122 |  |  | 9 |  |  |  |  |
| $ | 1,486 |  |  | $ | 1,263 |  |  |  |  |
| Quarter ended |  |
Operating Profit | 2021 |  | 2020 |  |  |  |
KFC Division | $ | 300 |  |  | $ | 224 |  |  |  |  |
Pizza Hut Division | 102 |  |  | 76 |  |  |  |  |
Taco Bell Division | 178 |  |  | 144 |  |  |  |  |
Habit Burger Grill Division | — |  |  | (2) |  |  |  |  |
Corporate and unallocated G&A expenses | (50) |  |  | (50) |  |  |  |  |
Unallocated Company restaurant expenses | — |  |  | (1) |  |  |  |  |
Unallocated Franchise and property expenses | — |  |  | (2) |  |  |  |  |
Unallocated Refranchising gain (loss) | 15 |  |  | 13 |  |  |  |  |
Unallocated Other income (expense) (See Note 5) | (2) |  |  | (152) |  |  |  |  |
Operating Profit | $ | 543 |  |  | $ | 250 |  |  |  |  |
Investment income (expense), net(a) | — |  |  | (34) |  |  |  |  |
Other pension income (expense) (See Note 10) | (3) |  |  | (3) |  |  |  |  |
Interest expense, net(b) | (131) |  |  | (118) |  |  |  |  |
Income before income taxes | $ | 409 |  |  | $ | 95 |  |  |  |  |
Our chief operating decision maker (“CODM”) does not consider the impact of Corporate and unallocated amounts when assessing Divisional segment performance. As such, we do not allocate such amounts to our Divisional segments for performance reporting purposes. (a)Includes changes in the value of Grubhub, Inc. ("Grubhub") common stock and other investments. For the quarter ended March 31, 2020, we recognized investment expense of $22 million related to changes in fair value of our investment in Grubhub common stock. In the quarter ended September 30, 2020, we sold our investment in Grubhub. (b)Includes fees expensed and unamortized debt issuance costs written off totaling $12 million related to the refinancing of the Credit Agreement during the quarter ended March 31, 2021 (see Note 11).

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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