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Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Total revenues $ 1,337 $ 1,458 $ 3,610 $ 4,124
Operating costs and expenses:        
Cost of sales 418 475 1,156 1,334
Franchise and property expenses 128 133 388 401
Selling, general and administrative expenses 302 320 922 948
(Income) loss from equity method investments 18 (11) 36 (11)
Other operating expenses (income), net 54 (30) 59 (44)
Total operating costs and expenses 920 887 2,561 2,628
Income from operations 417 571 1,049 1,496
Interest expense, net 129 137 376 406
Loss on early extinguishment of debt 0 4 0 4
Income before income taxes 288 430 673 1,086
Income tax expense 65 79 62 232
Net income 223 351 611 854
Net income attributable to noncontrolling interests 78 150 216 376
Net income attributable to common shareholders $ 145 $ 201 $ 395 $ 478
Earnings per common share        
Basic (in usd per share) $ 0.48 $ 0.76 $ 1.31 $ 1.85
Diluted (in usd per share) $ 0.47 $ 0.75 $ 1.30 $ 1.82
Weighted average shares outstanding        
Basic (in shares) 303 267 301 258
Diluted (in shares) 470 470 469 469
Sales        
Revenues:        
Sales $ 541 $ 624 $ 1,450 $ 1,735
Franchise and property revenues        
Revenues:        
Total revenues $ 796 $ 834 $ 2,160 $ 2,389