XML 60 R42.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Pension, Retiree Medical and Retiree Savings Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Retirement Benefits [Abstract] |  |
Funded status of pension plans |
|  | 2023 |  | 2022
Change in benefit obligation: |  |  |  |
Benefit obligation at beginning of year |  | $ | 755 |  |  | $ | 1,069 |
Service cost |  | 5 |  |  | 7 |
Interest cost |  | 41 |  |  | 31 |
Benefits paid |  | (34) |  |  | (29) |
Settlement payments |  | — |  |  | (59) |
Actuarial (gain) loss |  | 11 |  |  | (264) |
Benefit obligation at end of year |  | $ | 778 |  |  | $ | 755 |
A significant component of the overall increase in the Company's benefit obligation for the year ended December 31, 2023, was due to interest cost on the benefit obligation partially offset by benefits paid during the year. A significant component of the overall decrease in the Company’s benefit obligation for the year ended December 31, 2022, was due to an actuarial gain, which was primarily due to an increase in the discount rate used to measure our benefit obligation from 3.00% at December 31, 2021 to 5.60% at December 31, 2022.
|  | 2023 |  | 2022
Change in plan assets: |  |  |  |
Fair value of plan assets at beginning of year |  | $ | 664 |  |  | $ | 1,010 |
Actual return on plan assets |  | 46 |  |  | (272) |
Employer contributions |  | 4 |  |  | 14 |
Benefits paid |  | (34) |  |  | (29) |
Settlement payments |  | — |  |  | (59) |
Fair value of plan assets at end of year |  | $ | 680 |  |  | $ | 664 |
Funded status at end of year |  | $ | (98) |  |  | $ | (91) |
Amounts recognized in the Consolidated Balance Sheet |
Amounts recognized in the Consolidated Balance Sheet:
|  | 2023 |  | 2022
Accrued benefit asset - non-current |  | $ | — |  |  | $ | — |
Accrued benefit liability - current |  | (8) |  |  | (6) |
Accrued benefit liability - non-current |  | (90) |  |  | (85) |
|  | $ | (98) |  |  | $ | (91) |
Pension plans with an accumulated benefit obligation in excess of pan assets |
The table below provides information for those pension plan(s) with an accumulated benefit obligation in excess of plan assets. The pension plan(s) included also have a projected benefit obligation in excess of plan assets. |  |  |  |
|  | 2023 |  | 2022 |  |  |  |
Projected benefit obligation |  | $ | 778 |  |  | $ | 755 |  |  |  |  |
Accumulated benefit obligation |  | 763 |  |  | 740 |  |  |  |  |
Fair value of plan assets |  | 680 |  |  | 644 |  |  |  |  |
Components of net periodic benefit cost | Components of net periodic benefit cost:
|  | 2023 |  | 2022 |  | 2021
Service cost |  | $ | 5 |  |  | $ | 7 |  |  | $ | 8 |
Interest cost |  | 41 |  |  | 31 |  |  | 32 |
Amortization of prior service cost(a) |  | 1 |  |  | 6 |  |  | 6 |
Expected return on plan assets |  | (50) |  |  | (46) |  |  | (43) |
Amortization of net loss (gain) |  | (1) |  |  | 11 |  |  | 14 |
Net periodic benefit cost (income) |  | $ | (4) |  |  | $ | 9 |  |  | $ | 17 |
Additional (gain) loss recognized due to: Settlement charges(b) |  | $ | — |  |  | $ | 6 |  |  | $ | — |
(a)Prior service costs are amortized on a straight-line basis over the average remaining service period of employees expected to receive benefits. (b)Settlement losses result when benefit payments exceed the sum of the service cost and interest cost within a plan during the year. These losses were recorded in Other pension (income) expense. | [1],[2]
Pension losses in accumulated other comprehensive income (loss) |
Pension gains (losses) in AOCI:
|  | 2023 |  | 2022
Beginning of year |  | $ | (74) |  |  | $ | (43) |
Net actuarial gain (loss) |  | (13) |  |  | (54) |
Amortization of net (gain) loss |  | (1) |  |  | 11 |
Amortization of prior service cost |  | 1 |  |  | 6 |
Settlement charges |  | — |  |  | 6 |
End of year |  | $ | (87) |  |  | $ | (74) |
Schedule of Accumulated pre-tax losses recognized in Accumulated Other Comprehensive Income |
Accumulated pre-tax losses recognized within AOCI:
|  | 2023 |  | 2022
Actuarial net loss |  | $ | (84) |  |  | $ | (70) |
Prior service cost |  | (3) |  |  | (4) |
|  | $ | (87) |  |  | $ | (74) |
Weighted-average assumptions used to determine benefit obligations and net periodic benefit cost |
Weighted-average assumptions used to determine benefit obligations at the measurement dates:
|  | 2023 |  | 2022
Discount rate |  | 5.60 | % |  | 5.60 | %
Rate of compensation increase |  | 3.00 | % |  | 3.00 | %
Weighted-average assumptions used to determine the net periodic benefit cost for fiscal years:
|  | 2023 |  | 2022 |  | 2021
Discount rate |  | 5.60 | % |  | 3.00 | % |  | 2.80 | %
Long-term rate of return on plan assets |  | 6.25 | % |  | 5.40 | % |  | 5.25 | %
Rate of compensation increase |  | 3.00 | % |  | 3.00 | % |  | 3.00 | %
Schedule of Changes in Fair Value of Plan Assets | The fair values of our pension plan assets at December 31, 2023 and 2022 by asset category and level within the fair value hierarchy are as follows:
|  | 2023 |  | 2022
Level 1: |  |  |  |
Cash |  | $ | — |  |  | $ | 1 |
Cash Equivalents(a) |  | 61 |  |  | 22 |
Fixed Income Securities - U.S. Corporate(b) |  | 7 |  |  | 14 |
Level 2: |  |  |  |
Equity Securities(b) |  | 213 |  |  | 179 |
Fixed Income Securities - U.S. Corporate(c) |  | 25 |  |  | 22 |
Fixed Income Securities - U.S. Government and Government Agencies(d) |  | 124 |  |  | 118 |
Fixed Income Securities - Other(d) |  | 11 |  |  | 19 |
Total assets in the fair value hierarchy |  | 441 |  |  | 375 |
Investments measured at net asset value(e) |  |  |  |
Fixed Income |  | 132 |  |  | 146 |
Real Assets |  | 149 |  |  | 192 |
Total fair value of plan assets(f) |  | $ | 722 |  |  | $ | 713 |
(a)Short-term investments in money market funds. (b)Securities held in common or collective trusts. (c)Investments held directly by the Plan. (d)Includes securities held in common or collective trusts and investments held directly by the Plan. (e)Includes securities that have been measured at fair value using the net asset value per unit practical expedient due to the absence of readily available market prices. Accordingly, these securities have not been classified in the fair value hierarchy. (f)2023 and 2022 exclude net unsettled trade payables of $42 million and $49 million, respectively. | [3],[4],[5],[6],[7],[8]
Fair values of pension plan assets | As of December 31, 2023, the Plan’s assets consist of the weighted-average target allocation summarized as follows:
Asset Category |  | Target Allocation
Fixed income |  | 49 | %
Equity securities |  | 32 | %
Real assets |  | 19 | %
Expected benefit payments | The benefits expected to be paid in each of the next five years and in the aggregate for the five years thereafter are set forth below:
Year ended: |  |  |  |
2024 |  | $ | 50 |  |  |
2025 |  | 54 |  |  |
2026 |  | 59 |  |  |
2027 |  | 57 |  |  |
2028 |  | 60 |  |  |
2029 - 2033 |  | 280 |  |  |
[1] | Prior service costs are amortized on a straight-line basis over the average remaining service period of employees expected to receive benefits.
[2] | Settlement losses result when benefit payments exceed the sum of the service cost and interest cost within a plan during the year. These losses were recorded in Other pension (income) expense
[3] | Includes securities held in common or collective trusts and investments held directly by the Plan.
[4] | Includes securities that have been measured at fair value using the net asset value per unit practical expedient due to the absence of readily available market prices. Accordingly, these securities have not been classified in the fair value hierarchy.
[5] | Short-term investments in money market funds.
[6] | 2023 and 2022 exclude net unsettled trade payables of $42 million and $49 million, respectively.
[7] | Securities held in common or collective trusts.
[8] | Investments held directly by the Plan.

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefit obligation and plan assets of defined benefit plan with accumulated benefit obligation in excess of plan assets. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480482/715-20-55-17 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-3 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-3 + Details
Name: | us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (d)(5) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (k) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (b) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (f) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of net funded status of pension plans and/or other employee benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfNetFundedStatusTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Changes in Defined Benefit Plan Amounts in Accumulated Other Comprehensive Income (Loss) [Table Text Block] + References No definition available. + Details
Name: | yum_ScheduleOfChangesInDefinedBenefitPlanAmountsInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | yum_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition [Table Text Block] for Schedule of Pension Losses recognized in Accumulated Other Comprehensive Income [Table] + References No definition available. + Details
Name: | yum_ScheduleofPensionLossesrecognizedinAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | yum_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration