Supplemental Balance Sheet Information

3 Months Ended

Mar. 31, 2022

Supplemental Balance Sheet Information Disclosure [Abstract]

Accounts and Notes Receivable, net

The Company’s receivables are primarily generated from ongoing business relationships with our franchisees as a result of franchise and lease agreements. Trade receivables consisting of royalties from franchisees are generally due within 30 days of the period in which the corresponding sales occur and are classified as Accounts and notes receivable, net in our Condensed Consolidated Balance Sheets. Accounts and notes receivable, net also includes receivables generated from advertising cooperatives that we consolidate.


	3/31/2022		12/31/2021
Accounts and notes receivable, gross	$	606	$	632
Allowance for doubtful accounts	(41)		(36)
Accounts and notes receivable, net(a)	$	565	$	596

(a) Accounts and notes receivable, net includes approximately $2 million in license fees at March 31, 2022 related to Yum China Holdings, Inc. ("Yum China") gross revenue during the quarter ended March 31, 2022 that Yum China is now disputing are due under the terms of the Master License Agreement (“MLA”) between the Company and Yum China. License fees related to such revenue have historically been paid by Yum China and we believe they continue to be due under the terms of the MLA.

Property, Plant and Equipment, net


	3/31/2022		12/31/2021
Property, plant and equipment, gross	$	2,468	$	2,477
Accumulated depreciation and amortization	(1,287)		(1,270)
Property, plant and equipment, net	$	1,181	$	1,207

Assets held-for-sale totaled $9 million and $12 million as of March 31, 2022 and December 31, 2021, respectively, and are included in Prepaid expenses and other current assets in our Condensed Consolidated Balance Sheets.


Other Assets	3/31/2022		12/31/2021
Operating lease right-of-use assets(a)	$	791	$	809

Franchise incentives	179		164
Investment in Devyani International Limited (See Note 12)	122		118
Other	393		396
Other assets	$	1,485	$	1,487

(a) Non-current operating lease liabilities of $776 million and $793 million as of March 31, 2022 and December 31, 2021, respectively, are included in Other liabilities and deferred credits in our Condensed Consolidated Balance Sheets.

Reconciliation of Cash and Cash Equivalents for Condensed Consolidated Statements of Cash Flows


	3/31/2022		12/31/2021
Cash and cash equivalents as presented in Condensed Consolidated Balance Sheets	$	365	$	486
Restricted cash included in Prepaid expenses and other current assets(a)	218		250
Restricted cash and restricted cash equivalents included in Other assets(b)	35		35
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents as presented in Condensed Consolidated Statements of Cash Flows	$	618	$	771

(a) Restricted cash within Prepaid expenses and other current assets reflects the cash related to advertising cooperatives which we consolidate that can only be used to settle obligations of the respective cooperatives and cash held in reserve for Taco Bell Securitization interest payments.

(b) Primarily trust accounts related to our self-insurance program.