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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 388 $ 503
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 91 92
Amortization of deferred financing costs and debt issuance discount 12 15
(Income) loss from equity method investments 18 0
(Gain) loss on remeasurement of foreign denominated transactions 10 (3)
Net (gains) losses on derivatives (1) (34)
Share-based compensation expense 39 39
Deferred income taxes (131) 23
Other 20 (3)
Changes in current assets and liabilities, excluding acquisitions and dispositions:    
Accounts and notes receivable (36) (16)
Inventories and prepaids and other current assets (28) (10)
Accounts and drafts payable (158) (40)
Other accrued liabilities and gift card liability (13) (166)
Tenant inducements paid to franchisees (5) (8)
Other long-term assets and liabilities (10) 83
Net cash provided by operating activities 196 475
Cash flows from investing activities:    
Payments for property and equipment (39) (14)
Net proceeds from disposal of assets, restaurant closures, and refranchisings 5 22
Settlement/sale of derivatives, net 22 15
Net cash (used for) provided by investing activities (12) 23
Cash flows from financing activities:    
Proceeds from revolving line of credit and long-term debt 1,585 0
Repayments of revolving line of credit, long-term debt and finance leases (1,045) (48)
Payment of financing costs (10) 0
Payment of dividends on common shares and distributions on Partnership exchangeable units (716) (437)
Proceeds from stock option exercises 41 80
(Payments) proceeds from derivatives   11
(Payments) proceeds from derivatives (14)  
Other financing activities, net (2) (1)
Net cash used for financing activities (161) (395)
Effect of exchange rates on cash and cash equivalents (16) 12
Increase (decrease) in cash and cash equivalents 7 115
Cash and cash equivalents at beginning of period 1,533 913
Cash and cash equivalents at end of period 1,540 1,028
Supplemental cash flow disclosures:    
Interest paid 234 292
Income taxes paid $ 60 $ 127