Items Affecting Comparability of Net Income	3 Months Ended
Mar. 31, 2021
Items Affecting Comparability Of Net Income [Abstract]
Items Affecting Comparability of Net Income	Note 6 – Items Affecting Comparability of Net Income Impact of COVID-19 Pandemic Starting in the first quarter of 2020, the COVID-19 pandemic has significantly impacted the Company’s operations resulting in a significant decline in Operating profit mainly driven by same-store sales declines and temporary store closures. While the lingering effects of the pandemic continue to impact our operations, the Company reported substantial year-over-year growth in the first quarter of 2021, as the Company began to lap prior year periods that were impacted by COVID-19. Operating profit for the quarters ended March 31, 2021 and 2020 was $342 million and $97 million, respectively. Fujian Sunner Development Co., Ltd. (“Sunner”) Investment In the first quarter of 2021, the Company acquired a 5% equity interest in Sunner, a Shenzhen Stock Exchange listed company, for a total consideration of approximately $261 million. Sunner is China’s largest white-feathered chicken producer and the Company’s largest poultry supplier. The Company accounted for the equity securities at fair value with subsequent fair value changes recorded in our Condensed Consolidated Statements of Income. The fair value of the investment in Sunner is determined based on the closing market price for the shares at the end of each reporting period. The related unrealized loss of $17 million was included in Investment loss in our Condensed Consolidated Statements of Income for the quarter ended March 31, 2021. Meituan Dianping (“Meituan”) Investment In the third quarter of 2018, the Company subscribed for 8.4 million, or less than 1%, of the ordinary shares of Meituan, an e-commerce platform for services in China, for a total consideration of approximately $74 million, when it launched its initial public offering on the HKEX in September 2018. In the second quarter of 2020, the Company sold 4.2 million of the ordinary shares of Meituan for proceeds of approximately $54 million, and realized a $17 million pre-tax gain which was recognized during the holding period. The Company accounted for the equity securities at fair value with subsequent fair value changes recorded in our Condensed Consolidated Statements of Income. The fair value of the investment in Meituan is determined based on the closing market price for the shares at the end of each reporting period. The fair value change, to the extent the closing market price of shares of Meituan as of the end of reporting period is higher than our cost, is subject to U.S. tax. The related unrealized gain of $1 million and unrealized loss of $8 million was included in Investment gain or loss in our Condensed Consolidated Statements of Income for the quarters ended March 31, 2021 and 2020, respectively. Store Impairment Charges We recorded store impairment charges of $3 million and $12 million for the quarters ended March 31, 2021 and 2020, respectively. In the first quarter of 2020, we considered the adverse economic effects of the COVID-19 pandemic an impairment indicator, and performed an additional impairment evaluation for long-lived assets of restaurants. As a result of the evaluation, we recorded a restaurant-level impairment charge of $9 million in the first quarter of 2020. See Note 11 for additional information.

Items Affecting Comparability of Net Income

3 Months Ended

Mar. 31, 2021

Items Affecting Comparability Of Net Income [Abstract]

Items Affecting Comparability of Net Income

Note 6 – Items Affecting Comparability of Net Income

Impact of COVID-19 Pandemic

Starting in the first quarter of 2020, the COVID-19 pandemic has significantly impacted the Company’s operations resulting in a significant decline in Operating profit mainly driven by same-store sales declines and temporary store closures. While the lingering effects of the pandemic continue to impact our operations, the Company reported substantial year-over-year growth in the first quarter of 2021, as the Company began to lap prior year periods that were impacted by COVID-19. Operating profit for the quarters ended March 31, 2021 and 2020 was $342 million and $97 million, respectively.

Fujian Sunner Development Co., Ltd. (“Sunner”) Investment

In the first quarter of 2021, the Company acquired a 5% equity interest in Sunner, a Shenzhen Stock Exchange listed company, for a total consideration of approximately $261 million. Sunner is China’s largest white-feathered chicken producer and the Company’s largest poultry supplier.

Meituan Dianping (“Meituan”) Investment

In the third quarter of 2018, the Company subscribed for 8.4 million, or less than 1%, of the ordinary shares of Meituan, an e-commerce platform for services in China, for a total consideration of approximately $74 million, when it launched its initial public offering on the HKEX in September 2018. In the second quarter of 2020, the Company sold 4.2 million of the ordinary shares of Meituan for proceeds of approximately $54 million, and realized a $17 million pre-tax gain which was recognized during the holding period.

The Company accounted for the equity securities at fair value with subsequent fair value changes recorded in our Condensed Consolidated Statements of Income. The fair value of the investment in Meituan is determined based on the closing market price for the shares at the end of each reporting period. The fair value change, to the extent the closing market price of shares of Meituan as of the end of reporting period is higher than our cost, is subject to U.S. tax. The related unrealized gain of $1 million and unrealized loss of $8 million was included in Investment gain or loss in our Condensed Consolidated Statements of Income for the quarters ended March 31, 2021 and 2020, respectively.

Store Impairment Charges

We recorded store impairment charges of $3 million and $12 million for the quarters ended March 31, 2021 and 2020, respectively. In the first quarter of 2020, we considered the adverse economic effects of the COVID-19 pandemic an impairment indicator, and performed an additional impairment evaluation for long-lived assets of restaurants. As a result of the evaluation, we recorded a restaurant-level impairment charge of $9 million in the first quarter of 2020. See Note 11 for additional information.