0000950170-23-061471 | 10-Q | XBRL Viewer

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Fair Value Measurements and Disclosures - Schedule of Amounts Recognized From Non-recurring Fair Value Measurements (Parenthetical) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022
Restaurant-level impairment [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	$ 55	$ 67

Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue by Types of Arrangements and Segments

The following tables present revenue disaggregated by types of arrangements and segments:


	Quarter Ended 9/30/2023
Revenues	KFC		Pizza Hut		All Other Segments		Corporate and Unallocated		Combined		Elimination			Consolidated
Company sales	$	2,154	$	591	$	14	$	—	$	2,759	$	—		$	2,759
Franchise fees and income		16		2		5		—		23		—			23
Revenues from transactions with franchisees		12		1		20		67		100		—			100
Other revenues		4		5		162		12		183		(151	)		32
Total revenues	$	2,186	$	599	$	201	$	79	$	3,065	$	(151	)	$	2,914


	Quarter Ended 9/30/2022
Revenues	KFC		Pizza Hut		All Other Segments		Corporate and Unallocated		Combined		Elimination			Consolidated
Company sales	$	1,992	$	556	$	13	$	—	$	2,561	$	—		$	2,561
Franchise fees and income		15		2		5		—		22		—			22
Revenues from transactions with franchisees		9		1		11		59		80		—			80
Other revenues		1		2		157		12		172		(150	)		22
Total revenues	$	2,017	$	561	$	186	$	71	$	2,835	$	(150	)	$	2,685


	Year to Date Ended 9/30/2023
Revenues	KFC		Pizza Hut		All Other Segments		Corporate and Unallocated		Combined		Elimination			Consolidated
Company sales	$	6,274	$	1,728	$	46	$	—	$	8,048	$	—		$	8,048
Franchise fees and income		48		6		15		—		69		—			69
Revenues from transactions with franchisees		33		3		56		190		282		—			282
Other revenues		13		13		468		32		526		(440	)		86
Total revenues	$	6,368	$	1,750	$	585	$	222	$	8,925	$	(440	)	$	8,485


	Year to Date Ended 9/30/2022
Revenues	KFC		Pizza Hut		All Other Segments		Corporate and Unallocated		Combined		Elimination			Consolidated
Company sales	$	5,554	$	1,541	$	40	$	—	$	7,135	$	—		$	7,135
Franchise fees and income		44		6		15		—		65		—			65
Revenues from transactions with franchisees		24		3		29		163		219		—			219
Other revenues		6		6		407		31		450		(388	)		62
Total revenues	$	5,628	$	1,556	$	491	$	194	$	7,869	$	(388	)	$	7,481

Contract Liabilities

Contract liabilities at September 30, 2023 and December 31, 2022 were as follows:


Contract liabilities	9/30/2023		12/31/2022
– Deferred revenue related to prepaid stored-value products	$	134	$	139
– Deferred revenue related to upfront franchise fees		34		32
– Deferred revenue related to customer loyalty programs		24		23
– Deferred revenue related to privilege membership programs		21		16
– Others		1		—
Total	$	214	$	210

Business Acquisitions and Equity Investments

9 Months Ended

Sep. 30, 2023

Business Acquisitions And Equity Investments [Abstract]

Business Acquisitions and Equity Investments

Note 3 – Business Acquisitions and Equity Investments

Consolidation of Hangzhou KFC and Equity Investment in Hangzhou Catering

In the fourth quarter of 2021, the Company completed its investment in a 28% equity interest in Hangzhou Catering for cash consideration of $255 million. Hangzhou Catering holds a 45% equity interest in Hangzhou KFC, of which the Company previously held a 47% equity interest. Along with the investment, the Company also obtained two additional seats on the board of directors of Hangzhou KFC. Upon completion of the transaction, the Company directly and indirectly holds an approximately 60% equity interest in Hangzhou KFC and has majority representation on the board, and thus obtained control over Hangzhou KFC and started to consolidate its results from the acquisition date.

As a result of the acquisition of Hangzhou KFC, $66 million of the purchase price was allocated to the reacquired franchise right, which is amortized over the remaining franchise contract period of 1 year.

In addition to its equity interest in Hangzhou KFC, Hangzhou Catering operates approximately 60 Chinese dining restaurants under four time-honored brands and a food processing business. The Company applies the equity method of accounting to the 28% equity interest in Hangzhou Catering excluding the Hangzhou KFC business and classified this investment in Equity investments based on its then fair value. The Company elected to report its share of Hangzhou Catering’s financial results with a one-quarter lag because its results are not available in time for the Company to record them in the concurrent period. The Company's equity losses from Hangzhou Catering, net of taxes, were immaterial for both the quarters and years to date ended September 30, 2023 and 2022, and included in Equity in net earnings (losses) from equity method investments in our Condensed Consolidated Statement of Income. As of September 30, 2023 and December 31, 2022, the carrying amount of the Company’s equity method investment in Hangzhou Catering was $39 million and $37 million, respectively, exceeding the Company’s interest in Hangzhou Catering’s underlying net assets by $24 million and $26 million, respectively. Substantially all of this difference was attributable to its self-owned properties and impact of related deferred tax liabilities determined upon acquisition, which is being depreciated over a weighted-average remaining useful life of 20 years.

Consolidation of Suzhou KFC

In the third quarter of 2020, the Company completed the acquisition of an additional 25% equity interest in Suzhou KFC for cash consideration of $149 million, increasing its equity interest to 72%, and thus the Company obtained control over Suzhou KFC and started to consolidate its results from the acquisition date.

As a result of the acquisition of Suzhou KFC, $61 million of the purchase price was allocated to the reacquired franchise right, which is amortized over the remaining franchise contract period of 2.4 years.

In December 2022, the Company acquired an additional 20% equity interest in Suzhou KFC for cash consideration of $115 million, bringing its total ownership to 92%. As the Company has previously obtained control of Suzhou KFC, this transaction was accounted for as an equity transaction. Upon completion of the transaction, the excess of purchase consideration over the carrying amount of the non-controlling interests was $15 million, which was recorded in Additional paid-in capital.

As a result of the acquisitions of all former unconsolidated affiliates that operate our concepts by December 2021, the Company consolidated their results since their respective acquisition dates, and therefore we no longer have franchise fees and expenses and revenues and expenses from transactions with unconsolidated affiliates for the quarters and years to date ended September 30, 2023 and 2022.

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 then accounted for the equity securities at fair value based on their closing market price on each measurement date.

In May 2021, a senior executive of the Company was nominated and appointed to Sunner’s board of directors upon Sunner’s shareholder approval. Through this representation, the Company participates in Sunner’s policy making process. The representation on the board, along with the Company being one of Sunner’s significant shareholders, provides the Company with the ability to exercise significant influence over the operating and financial policies of Sunner. As a result, the Company started to apply the equity method of accounting to the investment in May 2021 based on its then fair value. The Company elected to report its share of Sunner’s financial results with a one-quarter lag because Sunner’s results are not available in time for the Company to record them in the concurrent period. In the quarters and years to date ended September 30, 2023 and 2022, the Company's equity income (losses) from Sunner, net of taxes, was immaterial, which was included in Equity in net earnings (losses) from equity method investments in our Condensed Consolidated Statement of Income.

The Company purchased inventories of $136 million and $116 million from Sunner for the quarters ended September 30, 2023 and 2022, respectively, and $392 million and $307 million for the years to date ended September 30, 2023 and 2022, respectively. The Company’s accounts payable and other current liabilities due to Sunner were $50 million and $53 million as of September 30, 2023 and December 31, 2022, respectively.

As of September 30, 2023 and December 31, 2022, the Company’s investment in Sunner was classified in Equity investments and the carrying amounts were $217 million and $227 million, respectively, exceeding the Company’s interest in Sunner’s underlying net assets by $148 million and $157 million, respectively. As of September 30, 2023 and December 31, 2022, $16 million and $18 million of these basis differences were related to finite-lived intangible assets determined upon acquisition, respectively, which are being amortized over the estimated useful life of 20 years. The remaining differences were related to goodwill and indefinite-lived intangible assets, which are not subject to amortization, as well as deferred tax liabilities impact. As of September 30, 2023 and December 31, 2022, the market value of the Company’s investment in Sunner was $164 million and $214 million based on its quoted closing price, respectively.

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.

The Company accounts 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.

A summary of pre-tax gains or losses on investment in equity securities of Meituan recognized, which were included in Investment gain or loss in our Condensed Consolidated Statements of Income, is as follows:


	Quarter Ended						Year to Date Ended
	9/30/2023			9/30/2022			9/30/2023			9/30/2022
Unrealized losses recorded on equity securities still held as of the end of the period	$	(4	)	$	(15	)	$	(33	)	$	(33	)

Leases - Schedule of Lease Term and Discount Rate (Details)	Sep. 30, 2023	Sep. 30, 2022
Weighted-average remaining lease term (years)
Operating leases	7 years 1 month 6 days	7 years 1 month 6 days
Finance leases	11 years 1 month 6 days	11 years 3 months 18 days
Weighted-average discount rate
Operating leases	4.90%	5.20%
Finance leases	5.00%	5.30%

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2023	Nov. 03, 2023
Document And Entity Information [Line Items]
Entity Registrant Name	Yum China Holdings, Inc.
Entity Central Index Key	0001673358
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Document Type	10-Q
Trading Symbol	YUMC
Amendment Flag	false
Entity Small Business	false
Entity Emerging Growth Company	false
Document Period End Date	Sep. 30, 2023
Entity Common Stock Shares Outstanding		413,654,270
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, par value $0.01 per share
Entity Incorporation, State or Country Code	DE
Security Exchange Name	NYSE
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-37762
Entity Tax Identification Number	81-2421743
Entity Address, Address Line One	101 East Park Boulevard, Suite 805
Entity Address, City or Town	Plano
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75074
City Area Code	469
Local Phone Number	980-2898
Entity Address, Country	US
The Stock Exchange of Hong Kong Limited [Member]
Document And Entity Information [Line Items]
Trading Symbol	9987
Other Address [Member]
Document And Entity Information [Line Items]
Entity Address, Address Line One	Yum China Building
Entity Address, City or Town	Shanghai
Entity Address, Postal Zip Code	200030
Entity Address, Country	CN
Entity Address, Address Line Two	20 Tian Yao Qiao Road

Revenue Recognition - Contract Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Contract liabilities
Contract liabilities	$ 214	$ 210
Deferred Revenue Related To Prepaid Stored Value Products [Member]
Contract liabilities
Contract liabilities	134	139
Deferred Revenue Related To Upfront Franchise Fees [Member]
Contract liabilities
Contract liabilities	34	32
Deferred Revenue Related To Customer Loyalty Programs [Member]
Contract liabilities
Contract liabilities	24	23
Deferred Revenue Related To Privilege Membership Programs [Member]
Contract liabilities
Contract liabilities	21	$ 16
Others [Member]
Contract liabilities
Contract liabilities	$ 1

Leases - Schedule of Supplemental Cash Flow Information (Parenthetical) (Details) - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2023

Sep. 30, 2022

Schedule Of Lease Assets And Liabilities [Line Items]

ROU assets non-cash transactions, operating leases

^[1]

$ 281

$ 106

Right-of-use assets non-cash transactions, finance leases

^[1]

Non Cash Transactions [Member]

Schedule Of Lease Assets And Liabilities [Line Items]

ROU assets non-cash transactions, operating leases

281

232

Modification or Other Reassessment Events [Member]

Schedule Of Lease Assets And Liabilities [Line Items]

ROU assets non-cash transactions, operating leases

$ 4

$ 122

[1]

This supplemental non-cash disclosure for ROU assets obtained in exchange for lease liabilities includes an increase in lease liabilities associated with obtaining new ROU assets of $281 million and $232 million for the years to date ended September 30, 2023 and 2022, respectively, as well as adjustments to lease liabilities or ROU assets due to modification or other reassessment events, which resulted in a $4 million increase and $122 million decrease in lease liabilities for the years to date ended September 30, 2023 and 2022, respectively.

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income tax provision	$ 100	$ 97	$ 296	$ 183
Effective tax rate	27.50%	29.90%	27.20%	30.10%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Revenue Recognition - Schedule of Disaggregation of Revenue by Types of Arrangements and Segments (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2023

Sep. 30, 2022

Disaggregation Of Revenue [Line Items]

Total revenues

$ 2,914

$ 2,685

$ 8,485

$ 7,481

Combined [Member]

Disaggregation Of Revenue [Line Items]

Total revenues

3,065

2,835

8,925

7,869

Elimination [Member]

Disaggregation Of Revenue [Line Items]

Total revenues

(151)

(150)

(440)

(388)

Operating Segments [Member] | KFC [Member]

Disaggregation Of Revenue [Line Items]

Total revenues

2,186

2,017

6,368

5,628

Operating Segments [Member] | Pizza Hut [Member]

Disaggregation Of Revenue [Line Items]

Total revenues

599

561

1,750

1,556

Operating Segments [Member] | All Other Segments [Member]

Disaggregation Of Revenue [Line Items]

Total revenues

201

186

585

491

Operating Segments [Member] | Corporate and Unallocated [Member]

Disaggregation Of Revenue [Line Items]

Total revenues

^[1]

222

194

Company Sales [Member]

Disaggregation Of Revenue [Line Items]

Revenues

2,759

2,561

8,048

7,135

Company Sales [Member] | Combined [Member]

Disaggregation Of Revenue [Line Items]

Revenues

2,759

2,561

8,048

7,135

Company Sales [Member] | Operating Segments [Member] | KFC [Member]

Disaggregation Of Revenue [Line Items]

Revenues

2,154

1,992

6,274

5,554

Company Sales [Member] | Operating Segments [Member] | Pizza Hut [Member]

Disaggregation Of Revenue [Line Items]

Revenues

591

556

1,728

1,541

Company Sales [Member] | Operating Segments [Member] | All Other Segments [Member]

Disaggregation Of Revenue [Line Items]

Revenues

Franchise [Member]

Disaggregation Of Revenue [Line Items]

Revenues

Franchise [Member] | Combined [Member]

Disaggregation Of Revenue [Line Items]

Revenues

Franchise [Member] | Operating Segments [Member] | KFC [Member]

Disaggregation Of Revenue [Line Items]

Revenues

Franchise [Member] | Operating Segments [Member] | Pizza Hut [Member]

Disaggregation Of Revenue [Line Items]

Revenues

Franchise [Member] | Operating Segments [Member] | All Other Segments [Member]

Disaggregation Of Revenue [Line Items]

Revenues

Transactions With Franchisees [Member]

Disaggregation Of Revenue [Line Items]

Revenues

100

282

219

Transactions With Franchisees [Member] | Combined [Member]

Disaggregation Of Revenue [Line Items]

Revenues

100

282

219

Transactions With Franchisees [Member] | Operating Segments [Member] | KFC [Member]

Disaggregation Of Revenue [Line Items]

Revenues

Transactions With Franchisees [Member] | Operating Segments [Member] | Pizza Hut [Member]

Disaggregation Of Revenue [Line Items]

Revenues

Transactions With Franchisees [Member] | Operating Segments [Member] | All Other Segments [Member]

Disaggregation Of Revenue [Line Items]

Revenues

Transactions With Franchisees [Member] | Operating Segments [Member] | Corporate and Unallocated [Member]

Disaggregation Of Revenue [Line Items]

Revenues

190

163

Other Revenues [Member]

Disaggregation Of Revenue [Line Items]

Revenues

Other Revenues [Member] | Combined [Member]

Disaggregation Of Revenue [Line Items]

Revenues

183

172

526

450

Other Revenues [Member] | Elimination [Member]

Disaggregation Of Revenue [Line Items]

Revenues

(151)

(150)

(440)

(388)

Other Revenues [Member] | Operating Segments [Member] | KFC [Member]

Disaggregation Of Revenue [Line Items]

Revenues

Other Revenues [Member] | Operating Segments [Member] | Pizza Hut [Member]

Disaggregation Of Revenue [Line Items]

Revenues

Other Revenues [Member] | Operating Segments [Member] | All Other Segments [Member]

Disaggregation Of Revenue [Line Items]

Revenues

162

157

468

407

Other Revenues [Member] | Operating Segments [Member] | Corporate and Unallocated [Member]

Disaggregation Of Revenue [Line Items]

Revenues

$ 12

$ 32

$ 31

[1]	Amounts have not been allocated to any segment for performance reporting purposes.

Segment Reporting - Narrative (Details)	9 Months Ended
Segment Reporting - Narrative (Details)	Sep. 30, 2023 Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Earnings Per Common Share ("EPS")

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Earning Per Common Share (EPS)

Note 5 – Earnings Per Common Share (“EPS”)

The following table summarizes the components of basic and diluted EPS (in millions, except per share data):


	Quarter Ended				Year to Date Ended
	9/30/2023		9/30/2022		9/30/2023		9/30/2022
Net Income – Yum China Holdings, Inc.	$	244	$	206	$	730	$	389
Weighted-average common shares outstanding (for basic calculation)(a)		416		420		417		422
Effect of dilutive share-based awards(a)		4		4		4		4
Weighted-average common and dilutive potential common shares outstanding (for diluted calculation)(a)		420		424		421		426
Basic Earnings Per Common Share	$	0.59	$	0.49	$	1.75	$	0.92
Diluted Earnings Per Common Share	$	0.58	$	0.49	$	1.73	$	0.92
Share-based awards excluded from the diluted EPS computation(b)		3		4		2		4

(a)

As a result of the separation, shares of Yum China common stock were distributed to YUM’s shareholders of record as of October 19, 2016 and were included in the calculated weighted-average common shares outstanding. Holders of outstanding YUM equity awards generally received both adjusted YUM awards and Yum China awards, or adjusted awards of either YUM or Yum China in their entirety. Any subsequent exercise of these awards, whether held by the Company’s employees or YUM’s employees, would increase the number of common shares outstanding. The incremental shares arising from outstanding equity awards are included in the computation of diluted EPS, if there is dilutive effect.

(b)

These outstanding stock appreciation rights (“SARs”), restricted stock units (“RSUs”) and performance stock units (“PSUs”) were excluded from the computation of diluted EPS because to do so would have been antidilutive for the periods presented, or because certain PSUs are contingently issuable based on the achievement of performance and market conditions, which have not been met as of September 30, 2023 and 2022.

Other Expenses, Net

9 Months Ended

Sep. 30, 2023

Other Income and Expenses [Abstract]

Other Expenses, Net

Note 8 – Other Expenses, net


	Quarter Ended				Year to Date Ended
	9/30/2023		9/30/2022		9/30/2023			9/30/2022
Amortization of reacquired franchise rights(a)	$	—	$	24	$	2		$	74
Foreign exchange impact and others		—		—		(1	)		(1	)
Other expenses, net	$	—	$	24	$	1		$	73

(a)

As a result of the acquisition of Hangzhou KFC, Suzhou KFC and Wuxi KFC, $66 million, $61 million and $61 million of the purchase price were allocated to intangible assets related to reacquired franchise rights, respectively, which are being amortized over the remaining franchise contract period of 1 year, 2.4 years and 5 years. The above reacquired franchise rights were substantially amortized as of December 31, 2022 and resulted in the decrease of amortization expenses in the quarter and year to date ended September 30, 2023.

Basis of Presentation

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Basis of Presentation

Note 2 – Basis of Presentation

Our preparation of the accompanying Condensed Consolidated Financial Statements in conformity with Generally Accepted Accounting Principles in the United States of America (“GAAP”) requires us to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.

We have prepared the Condensed Consolidated Financial Statements in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The Condensed Consolidated Financial Statements include all normal and recurring adjustments considered necessary to present fairly our financial position as of September 30, 2023, and our results of operations, comprehensive income and statements of equity for the quarters and years to date ended September 30, 2023 and 2022, and cash flows for the years to date ended September 30, 2023 and 2022. Our results of operations, comprehensive income and cash flows for these interim periods are not necessarily indicative of the results to be expected for the full year. These statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K as filed with the SEC on March 1, 2023.

Through the acquisition of Daojia, the Company also acquired a variable interest entity (“VIE”) and subsidiaries of the VIE effectively controlled by Daojia. There exists a parent-subsidiary relationship between Daojia and its VIE as a result of certain exclusive agreements that require Daojia to consolidate its VIE and subsidiaries of the VIE because Daojia is the primary beneficiary that possesses the power to direct the activities of the VIE that most significantly impact its economic performance, and is entitled to substantially all of the profits and has the obligation to absorb all of the expected losses of the VIE. The acquired VIE and its subsidiaries were considered immaterial, both individually and in the aggregate. The results of Daojia’s operations have been included in the Company’s Condensed Consolidated Financial Statements since the acquisition date.

Certain comparative items in the Condensed Consolidated Financial Statements have been reclassified to conform to the current period’s presentation to facilitate comparison.

Recently Adopted Accounting Pronouncements

In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-08 Business Combinations (Topic 805) — Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”). It requires issuers to apply ASC 606 Revenue from Contracts with Customers to recognize and measure contract assets and contract liabilities from contracts with customers acquired in a business combination. We adopted this standard on January 1, 2023, and such adoption did not have a material impact on our financial statements.

In March 2022, the FASB issued ASU 2022-01 Fair Value Hedging—Portfolio Layer Method (“ASU 2022-01”), which allows entities to expand their use of the portfolio layer method for fair value hedges of interest rate risk. Under the guidance, entities can hedge all financial assets under the portfolio layer method and designate multiple hedged layers within a single closed portfolio. The guidance also clarifies the accounting for fair value hedge basis adjustments in portfolio layer hedges and how these adjustments should be disclosed. We adopted this standard on January 1, 2023, and such adoption did not have a material impact on our financial statements.

In March 2022, the FASB issued ASU 2022-02 Financial Instrument—Credit Losses (“ASU 2022-02”), amending ASC 310 to eliminate the recognition and measurement guidance for a troubled debt restructuring for creditors that have adopted ASC 326 and requiring them to make enhanced disclosures about loan modifications for borrowers experiencing financial difficulty. The guidance also requires entities to present gross write-offs by year of origination in their vintage disclosures. We adopted this standard on January 1, 2023, and such adoption did not have a material impact on our financial statements.

In June 2022, the FASB issued ASU 2022-03 Fair Value Measurement—Fair Value Measurement of Equity Securities Subject to Contractual Sale Restriction (“ASU 2022-03”), clarifying that a contractual restriction on sales of an equity security is not considered part of the unit of account of the equity security, and therefore, is not considered when measuring fair value. The guidance also clarifies that a contractual sales restriction should not be recognized as a separate unit of account. We adopted this standard on January 1, 2023, and such adoption did not have a material impact on our financial statements.

In September 2022, the FASB issued ASU 2022-04 Liabilities—Disclosure of Supplier Finance Program Obligations (“ASU 2022-04”), requiring entities that use supplier finance programs in connection with the purchase of goods and services to disclose the key terms of the programs and information about their obligations outstanding at the end of the reporting period. We adopted this standard on January 1, 2023, and such adoption did not have a material impact on our financial statements.

Segment Reporting

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Segment Reporting

Note 15 – Segment Reporting

We have two reportable segments: KFC and Pizza Hut. Our remaining non-reportable operating segments, including the operations of Taco Bell, Lavazza, Little Sheep, Huang Ji Huang, our delivery operating segment and our e-commerce business, and for 2022, also including COFFii & JOY and East Dawning, are combined and referred to as All Other Segments, as these operating segments are insignificant both individually and in aggregate.


	Quarter Ended 9/30/2023
Revenues	KFC		Pizza Hut		All Other Segments		Corporate and Unallocated(a)		Combined		Elimination			Consolidated
Revenue from external customers	$	2,186	$	599	$	50	$	79	$	2,914	$	—		$	2,914
Inter-segment revenue		—		—		151		—		151		(151	)		—
Total	$	2,186	$	599	$	201	$	79	$	3,065	$	(151	)	$	2,914


	Quarter Ended 9/30/2022
Revenues	KFC		Pizza Hut		All Other Segments		Corporate and Unallocated(a)		Combined		Elimination			Consolidated
Revenue from external customers	$	2,017	$	561	$	41	$	66	$	2,685	$	—		$	2,685
Inter-segment revenue		—		—		145		5		150		(150	)		—
Total	$	2,017	$	561	$	186	$	71	$	2,835	$	(150	)	$	2,685


	Year to Date Ended 9/30/2023
Revenues	KFC		Pizza Hut		All Other Segments		Corporate and Unallocated(a)		Combined		Elimination			Consolidated
Revenue from external customers	$	6,368	$	1,750	$	145	$	222	$	8,485	$	—		$	8,485
Inter-segment revenue		—		—		440		—		440		(440	)		—
Total	$	6,368	$	1,750	$	585	$	222	$	8,925	$	(440	)	$	8,485


	Year to Date Ended 9/30/2022
Revenues	KFC		Pizza Hut		All Other Segments		Corporate and Unallocated(a)		Combined		Elimination			Consolidated
Revenue from external customers	$	5,628	$	1,556	$	115	$	182	$	7,481	$	—		$	7,481
Inter-segment revenue		—		—		376		12		388		(388	)		—
Total	$	5,628	$	1,556	$	491	$	194	$	7,869	$	(388	)	$	7,481


	Quarter Ended						Year to Date Ended
Operating Profit (Loss)	9/30/2023			9/30/2022			9/30/2023			9/30/2022
KFC	$	342		$	328		$	1,035		$	670
Pizza Hut		47			49			137			90
All Other Segments		(7	)		(9	)		(20	)		(39	)
Unallocated revenues from transactions with franchisees(b)		67			59			190			163
Unallocated other revenues		12			12			32			31
Unallocated expenses for transactions with franchisees(b)		(66	)		(58	)		(188	)		(163	)
Unallocated other operating costs and expenses		(12	)		(10	)		(30	)		(28	)
Unallocated and corporate G&A expenses		(60	)		(55	)		(161	)		(138	)
Unallocated other income, net		—			—			1			2
Operating Profit	$	323		$	316		$	996		$	588
Interest income, net(a)		46			25			124			51
Investment loss(a)		(4	)		(15	)		(32	)		(32	)
Income Before Income Taxes and Equity in Net Earnings (Losses) from Equity Method Investments	$	365		$	326		$	1,088		$	607


	Quarter Ended				Year to Date Ended
Impairment Charges	9/30/2023		9/30/2022		9/30/2023		9/30/2022
KFC(c)	$	2	$	5	$	14	$	24
Pizza Hut(c)		1		—		6		5
All Other Segments(c)		—		2		4		8
	$	3	$	7	$	24	$	37


	Total Assets
	9/30/2023		12/31/2022
KFC	$	5,053	$	5,296
Pizza Hut		856		880
All Other Segments		356		381
Corporate and Unallocated(d)		5,805		5,269
	$	12,070	$	11,826

(a)

Amounts have not been allocated to any segment for performance reporting purposes.

(b)

Primarily includes revenues and associated expenses of transactions with franchisees derived from the Company’s central procurement model whereby the Company centrally purchases substantially all food and paper products from suppliers then sells and delivers to KFC and Pizza Hut restaurants, including franchisees. Amounts have not been allocated to any segment for purposes of making operating decisions or assessing financial performance as the transactions are deemed corporate revenues and expenses in nature.

(c)

Primarily includes store closure impairment charges and restaurant-level impairment charges resulting from our semi-annual impairment evaluation.

(d)

Primarily includes cash and cash equivalents, short-term investments, long-term bank deposits and notes, equity investments, inventories that are centrally managed and PP&E that are not specifically identifiable within each segment.

As substantially all of the Company's revenue is derived from the PRC and substantially all of the Company's long-lived assets are located in the PRC, no geographical information is presented. In addition, revenue derived from and long-lived assets located in the U.S., the Company’s country of domicile, are immaterial.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Leases - Summary of Supplemental Balance Sheet (Details) - USD ($)
$ in Millions

Sep. 30, 2023

Dec. 31, 2022

Schedule Of Lease Assets And Liabilities [Abstract]

Operating lease right-of-use assets

$ 2,083

$ 2,219

Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]

Operating lease right-of-use assets

Finance lease right-of-use assets

$ 38

Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]

Property, Plant and Equipment, Net

Total leased assets

^[1]

$ 2,121

$ 2,257

Operating lease liabilities

405

448

Finance lease liabilities, Current

$ 4

$ 5

Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]

Accounts payable and other current liabilities

Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]

Accounts payable and other current liabilities

Non-current operating lease liabilities

$ 1,787

$ 1,906

Non-current finance lease liabilities

Total lease liabilities

^[1]

$ 2,237

$ 2,401

[1]	As of September 30, 2023, the decrease of right-of-use (“ROU”) assets was primarily due to amortization, a higher portion of our new leases with variable lease payments and the impact of foreign currency translation. The decrease of lease liabilities was consistent with the decrease of ROU assets.

Business Acquisitions and Equity Investments - Summary of Pre-tax Gains or Losses in Investment in Equity Securities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Meituan Dianping [Member]
Debt and Equity Securities, FV-NI [Line Items]
Unrealized (losses) gains recorded on equity securities still held as of the end of the period	$ (4)	$ (15)	$ (33)	$ (33)

Fair Value Measurements and Disclosures - Schedule of Amounts Recognized From Non-recurring Fair Value Measurements (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment, Long-Lived Asset, Held-for-Use, Statement of Income or Comprehensive Income [Extensible Enumeration]	Closure And Impairment Income Expenses Net	Closure And Impairment Income Expenses Net	Closure And Impairment Income Expenses Net	Closure And Impairment Income Expenses Net
Fair Value, Measurements, Nonrecurring [Member] \| Level 3 [Member] \| Restaurant-level impairment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restaurant-level impairment			$ 14	$ 15

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents	$ 1,131	$ 1,130
Short-term investments	2,001	2,022
Accounts receivable, net	62	64
Inventories, net	419	417
Prepaid expenses and other current assets	310	307
Total Current Assets	3,923	3,940
Property, plant and equipment, net	2,117	2,118
Operating lease right-of-use assets	2,083	2,219
Goodwill	1,879	1,988
Intangible assets, net	147	159
Long-term bank deposits and notes	1,237	680
Equity investments	319	361
Deferred income tax assets	106	113
Other assets	259	248
Total Assets	12,070	11,826
Current Liabilities
Accounts payable and other current liabilities	2,129	2,096
Short-term borrowings	210	2
Income taxes payable	133	68
Total Current Liabilities	2,472	2,166
Non-current operating lease liabilities	1,787	1,906
Non-current finance lease liabilities	41	42
Deferred income tax liabilities	364	390
Other liabilities	147	162
Total Liabilities	4,811	4,666
Redeemable Noncontrolling Interest	13	12
Equity
Common stock, $0.01 par value; 1,000 million shares authorized; 415 million shares and 419 million shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively.	4	4
Additional paid-in capital	4,382	4,390
Retained earnings	2,526	2,191
Accumulated other comprehensive loss	(341)	(103)
Total Yum China Holdings, Inc. Stockholders' Equity	6,571	6,482
Noncontrolling interests	675	666
Total Equity	7,246	7,148
Total Liabilities, Redeemable Noncontrolling Interest and Equity	$ 12,070	$ 11,826

Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the Carrying Amount of Goodwill

The changes in the carrying amount of goodwill are as follows:


	Total Company			KFC			Pizza Hut			All Other Segments
Balance as of December 31, 2022
Goodwill, gross	$	2,379		$	1,893		$	19		$	467
Accumulated impairment losses(a)		(391	)		—			—			(391	)
Goodwill, net		1,988			1,893			19			76
Effect of currency translation adjustments		(109	)		(104	)		(1	)		(4	)
Balance as of September 30, 2023
Goodwill, gross		2,270			1,789			18			463
Accumulated impairment losses(a)		(391	)		—			—			(391	)
Goodwill, net	$	1,879		$	1,789		$	18		$	72

(a)

Accumulated impairment losses represent goodwill impairment attributable to the reporting units of Little Sheep and Daojia.

Schedule of Finite and Indefinite Lived Intangible Assets by Major Class

Intangible assets, net as of September 30, 2023 and December 31, 2022 are as follows:


	9/30/2023										12/31/2022
	Gross Carrying Amount(a)		Accumulated Amortization(a)			Accumulated Impairment Losses(b)			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Accumulated Impairment Losses(b)			Net Carrying Amount
Finite-lived intangible assets
Reacquired franchise rights	$	261	$	(258	)	$	—		$	3	$	276	$	(271	)	$	—		$	5
Huang Ji Huang franchise related assets		20		(3	)		—			17		22		(3	)		—			19
Daojia platform		16		(4	)		(12	)		—		16		(4	)		(12	)		—
Customer-related assets		12		(10	)		(2	)		—		12		(9	)		(2	)		1
Others		8		(5	)		—			3		9		(5	)		—			4
	$	317	$	(280	)	$	(14	)	$	23	$	335	$	(292	)	$	(14	)	$	29
Indefinite-lived intangible assets
Little Sheep trademark	$	50	$	—		$	—		$	50	$	52	$	—		$	—		$	52
Huang Ji Huang trademark		74		—			—			74		78		—			—			78
	$	124	$	—		$	—		$	124	$	130	$	—		$	—		$	130

Total intangible assets	$	441	$	(280	)	$	(14	)	$	147	$	465	$	(292	)	$	(14	)	$	159

(a)

Changes in gross carrying amount and accumulated amortization include the effect of currency translation adjustments.

(b)

Accumulated impairment losses represent impairment charges on intangible assets acquired from Daojia primarily attributable to the Daojia platform.

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Revenue From Contract With Customer [Line Items]
Prepaid gift cards expiration period			36 months
Product vouchers maximum expiration period			12 months
Points expiration period			18 months
Number of days from the period in which the corresponding sales occur that trade receivables are generally due			30 days
Provision for accounts receivable	$ 2		$ 2		$ 2
Impairment losses related to costs to obtain contracts			0		0
Costs to obtain contracts	6		6		$ 6
Revenue recognized	$ 53	$ 60	$ 97	$ 103
KFC [Member]
Revenue From Contract With Customer [Line Items]
Franchisee agreement term			10 years
Pizza Hut [Member]
Revenue From Contract With Customer [Line Items]
Franchisee agreement term			10 years
Little Sheep [Member]
Revenue From Contract With Customer [Line Items]
Franchisee agreement term			5 years
Huang Ji Huang [Member] \| Minimum [Member]
Revenue From Contract With Customer [Line Items]
Franchisee agreement term			3 years
Huang Ji Huang [Member] \| Maximum [Member]
Revenue From Contract With Customer [Line Items]
Franchisee agreement term			10 years

Supplemental Balance Sheet Information (Details) - USD ($)
$ in Millions

Sep. 30, 2023

Dec. 31, 2022

Accounts Receivable, net

Accounts receivable, gross

$ 64

$ 66

Allowance for doubtful accounts

(2)

Accounts receivable, net

Prepaid Expenses and Other Current Assets

VAT assets

Receivables from payment processors and aggregators

Interest receivables

Deposits, primarily lease deposits

Dividends receivable from equity method investees

Other prepaid expenses and current assets

104

105

Prepaid expenses and other current assets

310

307

Equity Investments

Investment in equity method investees

257

266

Investment in equity securities

Equity investments

319

361

Other Assets

Land use right

113

123

Long-term deposits, primarily lease deposits

Prepayment for acquisition of PP&E

^[1]

Costs to obtain contracts

VAT assets

Others

Other assets

259

248

Accounts Payable and Other Current Liabilities

Accounts payable

758

727

Operating lease liabilities

405

448

Accrued compensation and benefits

306

285

Contract liabilities

186

182

Accrued capital expenditures

180

181

Dividends payable

Accrued marketing expenses

Other current liabilities

130

150

Accounts payable and other current liabilities

2,129

2,096

Other Liabilities

Accrued income tax payable

Contract liabilities

Other non-current liabilities

Other liabilities

$ 147

$ 162

[1]	The increase was primarily due to a prepayment made in relation to the acquisition of a building located in Shanghai to house the Company’s headquarters and flagship stores, which is currently expected to be delivered to the Company around 2026.

Condensed Consolidated Statements of Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividends declared, per common share	$ 0.13	$ 0.12	$ 0.39	$ 0.36

Leases - Narrative (Details) $ in Millions	9 Months Ended
Leases - Narrative (Details) $ in Millions	Sep. 30, 2023 USD ($) Restaurant
Schedule Of Lease Assets And Liabilities [Line Items]
Number of restaurants leased \| Restaurant	12,000
Additional lease signed but not commenced with total undiscounted minimum lease payments \| $	$ 122
Maximum [Member]
Schedule Of Lease Assets And Liabilities [Line Items]
Lease agreements initial terms	20 years
Lease terms	20 years
Minimum [Member]
Schedule Of Lease Assets And Liabilities [Line Items]
Lease agreements initial terms	10 years
Lease terms	1 year

Short-term Borrowings

9 Months Ended

Sep. 30, 2023

Short-Term Debt [Abstract]

Short-term Borrowings

Note 11 – Short-term Borrowings

As of September 30, 2023 and December 31, 2022, the Company had outstanding short-term bank borrowings of $210 million and $2 million, respectively, mainly to manage working capital at its operating subsidiaries, which were secured by short-term investments of $106 million and $1 million, respectively. The RMB denominated bank borrowings bear a weighted-average interest rate of 1.7%, and are due within one year from their issuance dates.

Borrowings are recognized initially at fair value, net of debt discounts or premiums and debt issuance costs, if applicable. Debt discounts or premiums and debt issuance costs are recorded as an adjustment to the principal amount and the related accretion is amortized into interest expense in the Condensed Consolidated Statements of Income over the term of the borrowings using the effective interest method. Borrowings are subsequently measured at amortized cost. Interest expense is recognized over the term of the borrowing and recorded in the Condensed Consolidated Statements of Income.

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2023

Sep. 30, 2022

Cash Flows – Operating Activities

Net income - including noncontrolling interests

$ 794

$ 420

Depreciation and amortization

339

467

Non-cash operating lease cost

301

333

Closures and impairment expenses

Investment loss

^[1]

Equity in net (earnings) losses from equity method investments

(2)

Distributions of income received from equity method investments

Deferred income taxes

(6)

(7)

Share-based compensation expense

Changes in accounts receivable

(2)

(6)

Changes in inventories

(25)

Changes in prepaid expenses, other current assets and VAT assets

(10)

216

Changes in accounts payable and other current liabilities

112

(19)

Changes in income taxes payable

Changes in non-current operating lease liabilities

(295)

(299)

Other, net

(46)

(11)

Net Cash Provided by Operating Activities

1,334

1,329

Cash Flows – Investing Activities

Capital spending

(499)

(509)

Purchases of short-term investments, long-term bank deposits and notes

(3,287)

(4,290)

Maturities of short-term investments, long-term bank deposits and notes

2,730

4,226

Acquisition of business, net of cash acquired

(23)

Other, net

Net Cash Used in Investing Activities

(1,052)

(593)

Cash Flows – Financing Activities

Proceeds from short-term borrowings

212

Repurchase of shares of common stock

(280)

(411)

Cash dividends paid on common stock

(162)

(152)

Dividends paid to noncontrolling interests

(37)

(29)

Contributions from noncontrolling interests

Payment of acquisition related holdback

(3)

(7)

Other, net

(5)

(2)

Net Cash Used in Financing Activities

(240)

(583)

Effect of Exchange Rates on Cash, Cash Equivalents and Restricted Cash

(41)

(78)

Net Increase in Cash, Cash Equivalents and Restricted Cash

Cash, Cash Equivalents, and Restricted Cash - Beginning of Period

1,130

1,136

Cash, Cash Equivalents, and Restricted Cash - End of Period

1,131

1,211

Supplemental Cash Flow Data

Cash paid for income tax

245

124

Cash paid for interest

Non-cash Investing and Financing Activities

Capital expenditures included in accounts payable and other current liabilities

$ 180

$ 133

[1]	Amounts have not been allocated to any segment for performance reporting purposes.

Income Taxes (Tables)

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Income Tax And Effective Tax Rate


	Quarter Ended						Year to Date Ended
	9/30/2023			9/30/2022			9/30/2023			9/30/2022
Income tax provision	$	100		$	97		$	296		$	183
Effective tax rate		27.5	%		29.9	%		27.2	%		30.1	%

Equity

9 Months Ended

Sep. 30, 2023

Stockholders' Equity Note [Abstract]

Equity

Note 6 – Equity

Share Repurchase and Retirement

As of September 30, 2023, our Board of Directors had authorized an aggregate of $2.4 billion for our share repurchase program. During the years to date ended September 30, 2023 and 2022, the Company repurchased 4.9 million shares of common stock for $281 million, and 9.3 million shares of common stock for $413 million, respectively, under the repurchase program. The total repurchase cost included $2 million settled subsequent to both September 30, 2023 and 2022, for shares repurchased with trade dates on and prior to September 30, 2023 and 2022, respectively. As of September 30, 2023, approximately $870 million remained available for future share repurchases under the authorization.

The Inflation Reduction Act of 2022 (“IRA”), which is discussed further in Note 14, imposes an excise tax of 1% on net share repurchases that occur after December 31, 2022. Estimated excise tax on net share repurchases, which was recognized as part of the cost of the shares repurchased, amounted to $3 million for the year to date ended September 30, 2023.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//505/tableOfContent

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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Supplemental Balance Sheet Information

9 Months Ended

Sep. 30, 2023

Balance Sheet Related Disclosures [Abstract]

Supplemental Balance Sheet Information

Note 9 – Supplemental Balance Sheet Information


Accounts Receivable, net	9/30/2023			12/31/2022
Accounts receivable, gross	$	64		$	66
Allowance for doubtful accounts		(2	)		(2	)
Accounts receivable, net	$	62		$	64


Prepaid Expenses and Other Current Assets	9/30/2023		12/31/2022
VAT assets	$	84	$	88
Receivables from payment processors and aggregators		52		53
Interest receivables		36		31
Deposits, primarily lease deposits		26		24
Dividends receivable from equity method investees		8		6
Other prepaid expenses and current assets		104		105
Prepaid expenses and other current assets	$	310	$	307


Property, Plant and Equipment (“PP&E”)	9/30/2023			12/31/2022
Buildings and improvements, and construction in progress	$	2,893		$	2,912
Finance leases, primarily buildings		63			62
Machinery and equipment		1,635			1,612
PP&E, gross		4,591			4,586
Accumulated depreciation		(2,474	)		(2,468	)
PP&E, net	$	2,117		$	2,118


Equity Investments	9/30/2023		12/31/2022
Investment in equity method investees	$	257	$	266
Investment in equity securities		62		95
Equity investments	$	319	$	361


Other Assets	9/30/2023		12/31/2022
Land use right	$	113	$	123
Long-term deposits, primarily lease deposits		89		90
Prepayment for acquisition of PP&E(a)		29		6
Costs to obtain contracts		6		6
VAT assets		6		5
Others		16		18
Other assets	$	259	$	248

(a)

The increase was primarily due to a prepayment made in relation to the acquisition of a building located in Shanghai to house the Company’s headquarters and flagship stores, which is currently expected to be delivered to the Company around 2026.


Accounts Payable and Other Current Liabilities	9/30/2023		12/31/2022
Accounts payable	$	758	$	727
Operating lease liabilities		405		448
Accrued compensation and benefits		306		285
Contract liabilities		186		182
Accrued capital expenditures		180		181
Dividends payable		79		51
Accrued marketing expenses		85		72
Other current liabilities		130		150
Accounts payable and other current liabilities	$	2,129	$	2,096


Other Liabilities	9/30/2023		12/31/2022
Accrued income tax payable	$	38	$	52
Contract liabilities		28		28
Other non-current liabilities		81		82
Other liabilities	$	147	$	162

Other Expenses, Net (Tables)

9 Months Ended

Sep. 30, 2023

Other Income and Expenses [Abstract]

Other Expenses, Net


	Quarter Ended				Year to Date Ended
	9/30/2023		9/30/2022		9/30/2023			9/30/2022
Amortization of reacquired franchise rights(a)	$	—	$	24	$	2		$	74
Foreign exchange impact and others		—		—		(1	)		(1	)
Other expenses, net	$	—	$	24	$	1		$	73

(a)

Subsequent Events

9 Months Ended

Sep. 30, 2023

Subsequent Events [Abstract]

Subsequent Events

Note 17 – Subsequent Events

Cash Dividend

On October 31, 2023, the Company announced that the Board of Directors declared a cash dividend of $0.13 per share on Yum China’s common stock, payable on December 19, 2023, to stockholders of record as of the close of business on November 28, 2023. Total estimated cash dividend payable is approximately $54 million.

Share Repurchase Authorization

On November 2, 2023, the Company announced that the Board of Directors increased the share repurchase authorization by $1 billion to an aggregate of $3.4 billion. With the increase of share repurchase authorization, approximately $1.8 billion remained available for future share repurchases under the authorization.

Goodwill and Intangible Assets (Details 1) - USD ($)
$ in Millions

Sep. 30, 2023

Dec. 31, 2022

Finite-lived intangible assets

Gross Carrying Amount

$ 317

^[1]

$ 335

Accumulated Amortization

(280)

^[1]

(292)

Accumulated impairment losses

^[2]

(14)

Net Carrying Amount

Indefinite-lived intangible assets

Net Carrying Amount

124

130

Total intangible assets

Gross Carrying Amount

441

^[1]

465

Intangible assets, net

147

159

Reacquired franchise rights [Member]

Finite-lived intangible assets

Gross Carrying Amount

261

^[1]

276

Accumulated Amortization

(258)

^[1]

(271)

Net Carrying Amount

Daojia platform [Member]

Finite-lived intangible assets

Gross Carrying Amount

^[1]

Accumulated Amortization

(4)

^[1]

(4)

Accumulated impairment losses

^[2]

(12)

Customer-related assets [Member]

Finite-lived intangible assets

Gross Carrying Amount

^[1]

Accumulated Amortization

(10)

^[1]

(9)

Accumulated impairment losses

^[2]

(2)

Net Carrying Amount

Others [Member]

Finite-lived intangible assets

Gross Carrying Amount

^[1]

Accumulated Amortization

(5)

^[1]

(5)

Net Carrying Amount

Huang Ji Huang Group [Member]

Finite-lived intangible assets

Gross Carrying Amount

^[1]

Accumulated Amortization

(3)

^[1]

(3)

Net Carrying Amount

Trademark [Member] | Little Sheep [Member]

Indefinite-lived intangible assets

Net Carrying Amount

Trademark [Member] | Huang Ji Huang Group [Member]

Indefinite-lived intangible assets

Net Carrying Amount

$ 74

$ 78

[1]	Changes in gross carrying amount and accumulated amortization include the effect of currency translation adjustments.
[2]	Accumulated impairment losses represent impairment charges on intangible assets acquired from Daojia primarily attributable to the Daojia platform.

Earnings Per Common Share ("EPS") (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2023

Sep. 30, 2022

Earnings Per Share [Abstract]

Net Income - Yum China Holdings, Inc.

$ 244

$ 206

$ 730

$ 389

Weighted-average common shares outstanding (for basic calculation)

^[1]

416

420

417

422

Effect of dilutive share-based awards

^[1]

Weighted-average common and dilutive potential common shares outstanding (for diluted calculation)

^[1]

420

424

421

426

Basic Earnings Per Common Share

$ 0.59

$ 0.49

$ 1.75

$ 0.92

Diluted Earnings Per Common Share

$ 0.58

$ 0.49

$ 1.73

$ 0.92

Share-based awards excluded from the diluted EPS computation

^[2]

[1]

[2]

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Description of Business - Narrative (Details) $ in Millions		3 Months Ended		9 Months Ended	12 Months Ended
Description of Business - Narrative (Details) $ in Millions	Sep. 10, 2020 USD ($) shares	Dec. 31, 2021 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2023 Segment Restaurant	Dec. 31, 2022 USD ($)	Sep. 30, 2021
Segment Reporting Information [Line Items]
Entity, date of incorporation				Apr. 01, 2016
Entity Incorporation, State or Country Code				DE
Additional consecutive renewal terms of license agreement				50 years
Percentage of license fees on net sales				3.00%
Number of reportable segments \| Segment				2
Number of restaurants				12,000
Global Offering [Member]
Segment Reporting Information [Line Items]
Global offering shares of common stock \| shares	41,910,700
Net proceeds from global offering \| $	$ 2,200
Lavazza Joint Venture [Member]
Segment Reporting Information [Line Items]
Joint venture equity interest percentage						65.00%
KFC [Member] \| Minimum [Member]
Segment Reporting Information [Line Items]
Number of restaurants				9,900
KFC [Member] \| Shanghai [Member] \| Owner and Operator of KFC [Member]
Segment Reporting Information [Line Items]
Controlling ownership percentage maintained				58.00%
KFC [Member] \| Beijing [Member] \| Owner and Operator of KFC [Member]
Segment Reporting Information [Line Items]
Controlling ownership percentage maintained				70.00%
KFC [Member] \| Wuxi [Member] \| Owner and Operator of KFC [Member]
Segment Reporting Information [Line Items]
Controlling ownership percentage maintained				83.00%
KFC [Member] \| Suzhou [Member] \| Owner and Operator of KFC [Member]
Segment Reporting Information [Line Items]
Controlling ownership percentage maintained				92.00%
KFC [Member] \| Hangzhou [Member] \| Owner and Operator of KFC [Member]
Segment Reporting Information [Line Items]
Controlling ownership percentage maintained				60.00%
Pizza Hut [Member] \| Minimum [Member]
Segment Reporting Information [Line Items]
Number of restaurants				200
KFC and Pizza Hut [Member]
Segment Reporting Information [Line Items]
Expiration term of license agreement				50 years
Taco Bell [Member]
Segment Reporting Information [Line Items]
Expiration term of license agreement				50 years
Suzhou KFC [Member]
Segment Reporting Information [Line Items]
Percentage of additional equity interest acquired			25.00%		20.00%
Cash consideration paid to acquire interest \| $			$ 149		$ 115
Hangzhou Catering [Member]
Segment Reporting Information [Line Items]
Percentage of additional equity interest acquired		28.00%
Cash consideration paid to acquire interest \| $		$ 255
Number of restaurants				60

Goodwill and Intangible Assets (Details) - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2023

Dec. 31, 2022

Goodwill [Line Items]

Goodwill, gross

$ 2,270

$ 2,379

Accumulated impairment losses

^[1]

(391)

Goodwill, net

1,879

1,988

Effect of currency translation adjustment

(109)

KFC [Member]

Goodwill [Line Items]

Goodwill, gross

1,789

1,893

Goodwill, net

1,789

1,893

Effect of currency translation adjustment

(104)

Pizza Hut [Member]

Goodwill [Line Items]

Goodwill, gross

Goodwill, net

Effect of currency translation adjustment

(1)

All Other Segments [Member]

Goodwill [Line Items]

Goodwill, gross

463

467

Accumulated impairment losses

^[1]

(391)

Goodwill, net

$ 76

Effect of currency translation adjustment

$ (4)

[1]	Accumulated impairment losses represent goodwill impairment attributable to the reporting units of Little Sheep and Daojia.

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Basis of Presentation (Policies)

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Recently Adopted Accounting Pronouncements

Fair Value Measurements and Disclosures

Non-Recurring Fair Value Measurements

In addition, certain of the Company’s restaurant-level assets (including operating lease ROU assets and PP&E), goodwill and intangible assets are measured at fair value based on unobservable inputs (Level 3) on a non-recurring basis, if determined to be impaired.

In determining the fair value of restaurant-level assets, the Company considered the highest and best use of the assets from a market participants’ perspective, which is represented by the higher of the forecasted discounted cash flows from operating restaurants and the price market participants would pay to sub-lease the ROU assets and acquire the remaining restaurants assets, even if that use differs from the current use by the Company. The after-tax cash flows incorporate reasonable assumptions we believe a franchisee would make, such as sales growth, and include a deduction for royalties we would receive under a franchise agreement with terms substantially at market. The discount rate used in the fair value calculation is our estimate of the required rate-of-return that a franchisee would expect to receive when purchasing a similar restaurant and the related long-lived assets. In situations where the highest and best use of restaurant-level assets are represented by sub-leasing the operating lease ROU assets and acquiring the remaining restaurant assets, the Company continues to use these assets in operating its restaurant business, which is consistent with its long-term strategy of growing revenue through operating restaurant concepts.

As of each relevant measurement date, the fair value of restaurant-level assets, if determined to be impaired, are primarily represented by the price market participant would pay to sub-lease the operating lease ROU assets and acquire the remaining restaurants assets, which reflects the highest and best use of the assets. Significant unobservable inputs used in the fair value measurement include market rental prices, which were determined with the assistance of an independent valuation specialist. The direct comparison approach is used as the valuation technique by assuming a sub-lease of each of the properties in its existing state with vacant possession. By making reference to lease transactions as available in the relevant market, comparable properties in close proximity have been selected and adjustments have been made to account for any difference in factors such as location and property size.

The following table presents amounts recognized from all non-recurring fair value measurements based on unobservable inputs (Level 3) during the quarters and years to date ended September 30, 2023 and 2022. These amounts exclude fair value measurements made for restaurants that were subsequently closed or refranchised prior to those respective period-end dates.


	Quarter Ended				Year to Date Ended
	9/30/2023		9/30/2022		9/30/2023		9/30/2022		Account Classification
Restaurant-level impairment(a)	$	—	$	—	$	14	$	15	Closure and impairment expenses, net

Revenue Recognition

Company Sales

Revenues from Company-owned restaurants are recognized when a customer takes possession of the food and tenders payment, which is when our obligation to perform is satisfied. The Company presents sales net of sales-related taxes. We also offer our customers delivery through both our own mobile applications and third-party aggregators’ platforms, and we primarily use our dedicated riders to deliver orders. When orders are fulfilled by our dedicated riders, we control and determine the price for the delivery service and generally recognize revenue, including delivery fees, when a customer takes possession of the food. When orders are fulfilled by the delivery staff of third-party aggregators, who control and determine the price for the delivery service, we recognize revenue, excluding delivery fees, when control of the food is transferred to the third-party aggregators’ delivery staff. The payment terms with respect to these sales are short-term in nature.

We recognize revenues from prepaid stored-value products, including gift cards and product vouchers, when they are redeemed by the customer. Prepaid gift cards sold at any given point generally expire over the next 36 months, and product vouchers generally expire over a period of up to 12 months. We recognize breakage revenue, which is the amount of prepaid stored-value products that is not expected to be redeemed, either (1) proportionally in earnings as redemptions occur, in situations where the Company expects to be entitled to a breakage amount, or (2) when the likelihood of redemption is remote, in situations where the Company does not expect to be entitled to breakage, provided that there is no requirement for remitting balances to government agencies under unclaimed property laws. The Company reviews its breakage estimates at least annually based upon the latest available information regarding redemption and expiration patterns.

Our privilege membership programs offer privilege members rights to multiple benefits, such as free delivery and discounts on certain products. For certain privilege membership programs offering a pre-defined amount of benefits that can be redeemed ratably over the membership period, revenue is ratably recognized over the period based on the elapse of time. With respect to privilege membership programs offering members a mix of distinct benefits, including a welcome gift and assorted discount coupons with pre-defined quantities, consideration collected is allocated to the benefits provided based on their relative standalone selling price and revenue is recognized when food or services are delivered or the benefits expire. In determining the relative standalone selling price of the benefits, the Company considers likelihood of future redemption based on historical redemption pattern and reviews such estimates periodically based upon the latest available information regarding redemption and expiration patterns.

Franchise Fees and Income

Franchise fees and income primarily include upfront franchise fees, such as initial fees and renewal fees, and continuing fees. We have determined that the services we provide in exchange for upfront franchise fees and continuing fees are highly interrelated with the franchise right. We recognize upfront franchise fees received from a franchisee as revenue over the term of the franchise agreement or the renewal agreement because the franchise rights are accounted for as rights to access our symbolic intellectual property. The franchise agreement term is generally 10 years for KFC and Pizza Hut, generally five years for Little Sheep and three to 10 years for Huang Ji Huang. We recognize continuing fees, which are based upon a percentage of franchisee sales, as those sales occur.

Revenues from Transactions with Franchisees

Revenues from transactions with franchisees consist primarily of sales of food and paper products, advertising services, delivery services and other services provided to franchisees.

The Company centrally purchases substantially all food and paper products from suppliers for substantially all of our restaurants, including franchisees, and then sells and delivers them to the restaurants. In addition, the Company owns seasoning facilities for its Chinese dining business unit, which manufacture and sell seasoning products to Huang Ji Huang and Little Sheep franchisees. The Company also provides delivery services to franchisees. The performance obligation arising from such transactions is considered distinct from the franchise agreement as it is not highly dependent on the franchise agreement and the customer can benefit from such services on its own. We consider ourselves the principal in this arrangement as we have the ability to control a promised good or service before transferring that good or service to the franchisees. Revenue is recognized upon transfer of control over ordered items or services, generally upon delivery to the franchisees.

For advertising services, the Company often engages third parties to provide services and acts as a principal in the transaction based on our responsibilities of defining the nature of the services and administering and directing all marketing and advertising programs in accordance with the provisions of our franchise agreements. The Company collects advertising contributions, which are generally based on certain percentage of sales from substantially all of our restaurants, including franchisees. Other services provided to franchisees consist primarily of customer and technology support services. Advertising services and other services provided are highly interrelated to franchise right, and are not considered individually distinct. We recognize revenue when the related sales occur.

Other Revenues

Other revenues primarily include i) sales of products to customers through e-commerce channels and the sale of our seasoning products to distributors, and ii) revenues from logistics and warehousing services provided to third parties through our supply chain network. Our segment disclosures also include revenues relating to delivery services that were provided to our Company-owned restaurants and, therefore, were eliminated for consolidation purposes.

Other revenues are recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services.

Loyalty Programs

Each of the Company’s KFC and Pizza Hut reportable segments operates a loyalty program that allows registered members to earn points for each qualifying purchase. Points, which generally expire 18 months after being earned, may be redeemed for future purchases of KFC or Pizza Hut branded products or other products for free or at a discounted price. Points cannot be redeemed or exchanged for cash. The estimated value of points earned by the loyalty program members is recorded as a reduction of revenue at the time the points are earned, based on the percentage of points that are projected to be redeemed, with a corresponding deferred revenue liability included in Accounts payable and other current liabilities on the Condensed Consolidated Balance Sheets and subsequently recognized into revenue when the points are redeemed or expire. The Company estimates the value of the future redemption obligations based on the estimated value of the product for which points are expected to be redeemed and historical redemption patterns and reviews such estimates periodically based upon the latest available information regarding redemption and expiration patterns.

Accounts Receivable

Accounts receivable primarily consist of trade receivables and royalties from franchisees, and are generally due within 30 days of the period in which the corresponding sales occur. Our provision of credit losses for accounts receivable is based upon the current expected credit losses (“CECL”) model. The CECL model requires an estimate of the credit losses expected over the life of accounts receivable since initial recognition, and accounts receivable with similar risk characteristics are grouped together when estimating CECL. In assessing the CECL, the Company considers both quantitative and qualitative information that is reasonable and supportable, including historical credit loss experience, adjusted for relevant factors impacting collectability and forward-looking information indicative of external market conditions. While we use the best information available in making our determination, the ultimate recovery of recorded receivables is also dependent upon future economic events and other conditions that may be beyond our control. Accounts receivable that are ultimately deemed to be uncollectible, and for which collection efforts have been exhausted, are written off against the allowance for doubtful accounts.

Costs to Obtain Contracts

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-17

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-19

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-18

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-18

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-20

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-20

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-20

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-20

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (e)
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483426/235-10-50-4

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Supplemental Balance Sheet Information (Details 1) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
PP&E, gross	$ 4,591	$ 4,586
Accumulated depreciation	(2,474)	(2,468)
PP&E, net	2,117	2,118
Buildings and Improvements, and Construction in Progress [Member]
Property Plant And Equipment [Line Items]
PP&E, gross	2,893	2,912
Finance Leases, Primarily Buildings [Member]
Property Plant And Equipment [Line Items]
PP&E, gross	63	62
Machinery and Equipment [Member]
Property Plant And Equipment [Line Items]
PP&E, gross	$ 1,635	$ 1,612

Earnings Per Common Share ("EPS") (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Earnings Per Common Share

The following table summarizes the components of basic and diluted EPS (in millions, except per share data):


	Quarter Ended				Year to Date Ended
	9/30/2023		9/30/2022		9/30/2023		9/30/2022
Net Income – Yum China Holdings, Inc.	$	244	$	206	$	730	$	389
Weighted-average common shares outstanding (for basic calculation)(a)		416		420		417		422
Effect of dilutive share-based awards(a)		4		4		4		4
Weighted-average common and dilutive potential common shares outstanding (for diluted calculation)(a)		420		424		421		426
Basic Earnings Per Common Share	$	0.59	$	0.49	$	1.75	$	0.92
Diluted Earnings Per Common Share	$	0.58	$	0.49	$	1.73	$	0.92
Share-based awards excluded from the diluted EPS computation(b)		3		4		2		4

(a)

(b)

Fair Value Measurements and Disclosures - Assets Measured on Recurring Basis or Disclosed at Fair Value (Details) - Recurring Fair Value Measurements [Member] - USD ($)
$ in Millions

Sep. 30, 2023

Dec. 31, 2022

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Cash equivalents, Fair Value Measurement or Disclosure

$ 388

$ 543

Investments, Fair Value Measurement or Disclosure

2,001

2,022

Long-term bank deposits and notes

1,237

Total assets, Fair Value Measurement or Disclosure

3,688

3,340

Level 1 [Member]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Cash equivalents, Fair Value Measurement or Disclosure

Investments, Fair Value Measurement or Disclosure

Total assets, Fair Value Measurement or Disclosure

100

183

Level 2 [Member]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Cash equivalents, Fair Value Measurement or Disclosure

377

455

Investments, Fair Value Measurement or Disclosure

1,974

2,022

Total assets, Fair Value Measurement or Disclosure

3,588

3,157

Bank Time Deposits [Member]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Cash equivalents, Fair Value Measurement or Disclosure

377

355

Investments, Fair Value Measurement or Disclosure

1,622

1,434

Long-term bank deposits and notes

879

680

Bank Time Deposits [Member] | Level 2 [Member]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Cash equivalents, Fair Value Measurement or Disclosure

377

355

Investments, Fair Value Measurement or Disclosure

1,622

1,434

Long-term bank deposits and notes

879

680

Money Market Funds [Member]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Cash equivalents, Fair Value Measurement or Disclosure

Money Market Funds [Member] | Level 1 [Member]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Cash equivalents, Fair Value Measurement or Disclosure

Fixed Income Debt Securities [Member]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Cash equivalents, Fair Value Measurement or Disclosure

^[1]

129

Investments, Fair Value Measurement or Disclosure

^[1]

200

500

Long-term bank deposits and notes

^[1]

358

Fixed Income Debt Securities [Member] | Level 1 [Member]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Cash equivalents, Fair Value Measurement or Disclosure

^[1]

Fixed Income Debt Securities [Member] | Level 2 [Member]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Cash equivalents, Fair Value Measurement or Disclosure

^[1]

100

Investments, Fair Value Measurement or Disclosure

^[1]

200

500

Long-term bank deposits and notes

^[1]

358

Investment in Equity Securities [Member]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Equity investments: Investment in equity securities

Investment in Equity Securities [Member] | Level 1 [Member]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Equity investments: Investment in equity securities

Structured Deposits [Member]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Investments, Fair Value Measurement or Disclosure

152

Structured Deposits [Member] | Level 2 [Member]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Investments, Fair Value Measurement or Disclosure

152

$ 88

Variable Return Investments [Member]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Investments, Fair Value Measurement or Disclosure

Variable Return Investments [Member] | Level 1 [Member]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Investments, Fair Value Measurement or Disclosure

$ 27

[1]	Classified as held-to-maturity investments and measured at amortized cost.

Leases (Tables)

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Summary of Supplemental Balance Sheet


Supplemental Balance Sheet
	9/30/2023		12/31/2022		Account Classification
Assets
Operating lease right-of-use assets	$	2,083	$	2,219	Operating lease right-of-use assets
Finance lease right-of-use assets		38		38	PP&E, net
Total leased assets(a)	$	2,121	$	2,257

Liabilities
Current
Operating lease liabilities	$	405	$	448	Accounts payable and other current liabilities
Finance lease liabilities		4		5	Accounts payable and other current liabilities
Non-current
Operating lease liabilities		1,787		1,906	Non-current operating lease liabilities
Finance lease liabilities		41		42	Non-current finance lease liabilities
Total lease liabilities(a)	$	2,237	$	2,401

(a)

As of September 30, 2023, the decrease of right-of-use (“ROU”) assets was primarily due to amortization, a higher portion of our new leases with variable lease payments and the impact of foreign currency translation. The decrease of lease liabilities was consistent with the decrease of ROU assets.

Summary of Lease Cost


Summary of Lease Cost	Quarter Ended						Year to Date Ended
	9/30/2023			9/30/2022			9/30/2023			9/30/2022			Account Classification

Operating lease cost	$	125		$	133		$	386		$	433		Occupancy and other operating expenses, G&A or Franchise expenses
Finance lease cost
Amortization of leased assets		1			1			3			3		Occupancy and other operating expenses
Interest on lease liabilities		1			1			2			2		Interest income, net
Variable lease cost(b)		115			89			316			248		Occupancy and other operating expenses or Franchise expenses
Short-term lease cost		3			3			12			10		Occupancy and other operating expenses or G&A
Sub-lease income		(5	)		(5	)		(16	)		(18	)	Franchise fees and income or Other revenues
Total lease cost	$	240		$	222		$	703		$	678

(b)

The Company was granted less than $1 million and $13 million in lease concessions from landlords related to the effects of the COVID-19 pandemic during the quarters ended September 30, 2023 and 2022, respectively, and $10 million and $27 million during the years to date ended September 30, 2023 and 2022, respectively. The lease concessions were primarily in the form of rent reduction over the period of time when the Company’s restaurant business was adversely impacted. The Company applied the interpretive guidance in a FASB staff question-and-answer document issued in April 2020 and elected: (1) not to evaluate whether a concession received in response to the COVID-19 pandemic is a lease modification and (2) to assume such concession was contemplated as part of the existing lease contract with no contract modification. Such concession was recognized as negative variable lease cost in the period the concession was granted.

Schedule of Supplemental Cash Flow Information


Supplemental Cash Flow Information	Year to Date Ended
	9/30/2023		9/30/2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	401	$	416
Operating cash flows from finance leases		2		2
Financing cash flows from finance leases		4		3
Right-of-use assets obtained in exchange for lease liabilities(c):
Operating leases	$	281	$	106
Finance leases		4		4

(c)

Schedule of Lease Terms and Discount Rate



Lease Term and Discount Rate	9/30/2023			9/30/2022
Weighted-average remaining lease term (years)
Operating leases		7.1			7.1
Finance leases		11.1			11.3

Weighted-average discount rate
Operating leases		4.9	%		5.2	%
Finance leases		5.0	%		5.3	%

Summary of Maturities of Lease Liabilities

Maturities of lease liabilities as of September 30, 2023 were as follows:


	Amount of Operating Leases		Amount of Finance Leases		Total
Remainder of 2023	$	148	$	2	$	150
2024		461		6		467
2025		406		6		412
2026		359		6		365
2027		306		5		311
Thereafter		922		34		956
Total undiscounted lease payment		2,602		59		2,661
Less: imputed interest(d)		410		14		424
Present value of lease liabilities	$	2,192	$	45	$	2,237

(d)

As the rate implicit in the lease cannot be readily determined, we use our incremental borrowing rate based on the information available at the lease commencement date in determining the imputed interest and present value of lease payments. We used the incremental borrowing rate on January 1, 2019 for operating leases that commenced prior to that date.

Business Acquisitions and Equity Investments (Tables)

9 Months Ended

Sep. 30, 2023

Meituan Dianping [Member]

Schedule Of Trading Securities And Other Trading Assets [Line Items]

Summary of Pre-tax Gains or Losses on Investment in Equity Securities


	Quarter Ended						Year to Date Ended
	9/30/2023			9/30/2022			9/30/2023			9/30/2022
Unrealized losses recorded on equity securities still held as of the end of the period	$	(4	)	$	(15	)	$	(33	)	$	(33	)

Income Taxes

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Income Taxes

Note 14 – Income Taxes


	Quarter Ended						Year to Date Ended
	9/30/2023			9/30/2022			9/30/2023			9/30/2022
Income tax provision	$	100		$	97		$	296		$	183
Effective tax rate		27.5	%		29.9	%		27.2	%		30.1	%

The lower effective tax rate for the quarter ended September 30, 2023 was primarily due to a reduction in valuation allowance for improved performance at certain subsidiaries and an increase in benefits from preferential tax treatment at qualified subsidiaries.

The lower effective tax rate for the year to date ended September 30, 2023 was primarily due to a reduction in valuation allowance for improved performance at certain subsidiaries, an increase in benefits from preferential tax treatment at qualified subsidiaries, and the impact of higher pre-tax income.

In December 2017, the U.S. enacted the Tax Cuts and Jobs Act (the “Tax Act”), which included a broad range of tax reforms. The Tax Act requires a U.S. shareholder to be subject to tax on Global Intangible Low Taxed Income (“GILTI”) earned by certain foreign subsidiaries. We have elected the option to account for current year GILTI tax as a period cost as incurred, and therefore included it in estimating the annual effective tax rate.

In August 2022, the IRA was signed into law in the U.S., which contains certain tax measures, including a Corporate Alternative Minimum Tax (“CAMT”) of 15% on certain large corporations. On December 27, 2022, the U.S. Treasury Department and the Internal Revenue Services (the “IRS”) released Notice 2023-7, announcing their intention to issue proposed regulations addressing the application of the new CAMT. Notice 2023-7 also provides interim guidance regarding certain CAMT issues, and states that the U.S. Treasury Department and the IRS plan to issue additional interim guidance addressing other issues before publishing proposed regulations. The Company will monitor the regulatory developments and continue to evaluate the impact on our financial statements, if any.

In December 2022, a refined Foreign Sourced Income Exemption (“FSIE”) regime was published in Hong Kong and took effect from January 1, 2023. Under the new FSIE regime, certain foreign sourced income would be deemed as being sourced from Hong Kong and chargeable to Hong Kong Profits Tax, if the recipient entity fails to meet the prescribed exception requirements. Certain dividends, interests and disposal gains, if any, received by us and our Hong Kong subsidiaries will be subject to the new tax regime. Based on our preliminary analysis, we do not believe this legislation will have a material impact on our financial statements. The Company will monitor the regulatory developments and continue to evaluate the impact, if any.

We are subject to reviews, examinations and audits by Chinese tax authorities, the IRS and other tax authorities with respect to income and non-income based taxes. Since 2016, we have been under a national audit on transfer pricing by the Chinese State Taxation Administration (the “STA”) in China regarding our related party transactions for the period from 2006 to 2015. The information and views currently exchanged with the tax authorities focus on our franchise arrangement with YUM. We continue to provide information requested by the tax authorities to the extent it is available to the Company. It is reasonably possible that there could be significant developments, including expert review and assessment by the STA, within the next 12 months. The ultimate assessment and decision of the STA will depend upon further review of the information provided, as well as ongoing technical and other discussions with the STA and in-charge local tax authorities, and therefore, it is not possible to reasonably estimate the potential impact at this time. We will continue to defend our transfer pricing position. However, if the STA prevails in the assessment of additional tax due based on its ruling, the assessed tax, interest and penalties, if any, could have a material adverse impact on our financial position, results of operations and cash flows.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
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-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
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-Paragraph 17
-Subparagraph (b)
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
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-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Contingencies

9 Months Ended

Sep. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Contingencies

Note 16 – Contingencies

Indemnification of China Tax on Indirect Transfers of Assets

In February 2015, the STA issued Bulletin 7 on Income arising from Indirect Transfers of Assets by Non-Resident Enterprises. Pursuant to Bulletin 7, an “indirect transfer” of Chinese taxable assets, including equity interests in a Chinese resident enterprise, by a non-resident enterprise, may be recharacterized and treated as a direct transfer of Chinese taxable assets, if such arrangement does not have reasonable commercial purpose and the transferor has avoided payment of Chinese enterprise income tax. As a result, gains derived from such an indirect transfer may be subject to Chinese enterprise income tax at a rate of 10%.

YUM concluded, and we concurred, that it is more likely than not that YUM will not be subject to this tax with respect to the pro rata distribution of all outstanding shares of Yum China common stock to shareholders of YUM in connection with the separation (the “distribution”). However, there are significant uncertainties regarding what constitutes a reasonable commercial purpose, how the safe harbor provisions for group restructurings are to be interpreted, and how the taxing authorities will ultimately view the distribution. As a result, YUM’s position could be challenged by Chinese tax authorities resulting in a 10% tax assessed on the difference between the fair market value and the tax basis of the separated China business. As YUM’s tax basis in the China business is minimal, the amount of such a tax could be significant.

Any tax liability arising from the application of Bulletin 7 to the distribution is expected to be settled in accordance with the tax matters agreement between the Company and YUM. Pursuant to the tax matters agreement, to the extent any Chinese indirect transfer tax pursuant to Bulletin 7 is imposed, such tax and related losses will be allocated between YUM and the Company in proportion to their respective share of the combined market capitalization of YUM and the Company during the 30 trading days after the separation. Such a settlement could be significant and have a material adverse effect on our results of operations and our financial condition. At the inception of the tax indemnity being provided to YUM, the fair value of the non-contingent obligation to stand ready to perform was insignificant and the liability for the contingent obligation to make payment was not probable or estimable.

Guarantees for Franchisees

From time to time, we have guaranteed certain lines of credit and loans of franchisees. As of September 30, 2023, no guarantees were outstanding for franchisees.

Legal Proceedings

The Company is subject to various lawsuits covering a variety of allegations from time to time. The Company believes that the ultimate liability, if any, in excess of amounts already provided for these matters in the Condensed Consolidated Financial Statements, is not likely to have a material adverse effect on the Company’s results of operations, financial condition or cash flows. Matters faced by the Company from time to time include, but are not limited to, claims from landlords, employees, customers and others related to operational, contractual or employment issues.

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares shares in Millions	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000	1,000
Common stock, shares issued	415	419
Common stock, shares outstanding	415	419

Segment Reporting (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2023

Sep. 30, 2022

Dec. 31, 2022

Segment Reporting Information [Line Items]

Revenues

$ 2,914

$ 2,685

$ 8,485

$ 7,481

Operating Profit

323

316

996

588

Unallocated other income, net

Interest income, net

^[1]

124

Investment (loss) gain

^[1]

(4)

(15)

(32)

Income Before Income Taxes and Equity in Net Earnings (Losses) from Equity Method Investments

365

326

1,088

607

Impairment Charges

Total Assets

12,070

$ 11,826

KFC [Member]

Segment Reporting Information [Line Items]

Impairment Charges

^[2]

Pizza Hut [Member]

Segment Reporting Information [Line Items]

Impairment Charges

^[2]

All Other Segments [Member]

Segment Reporting Information [Line Items]

Impairment Charges

^[2]

Revenue From External Customers [Member]

Segment Reporting Information [Line Items]

Revenues

2,685

8,485

7,481

Corporate and Unallocated [Member]

Segment Reporting Information [Line Items]

Unallocated revenues from transactions with franchisees

^[3]

190

163

Unallocated Other revenues

Unallocated expenses for transactions with franchisees

^[3]

(66)

(58)

(188)

(163)

Unallocated Other operating costs and expenses

(12)

(10)

(30)

(28)

Unallocated and corporate G&A expenses

(60)

(55)

(161)

(138)

Total Assets

^[4]

5,805

5,269

Operating Segments [Member] | KFC [Member]

Segment Reporting Information [Line Items]

Revenues

2,186

2,017

6,368

5,628

Operating Profit

342

328

1,035

670

Total Assets

5,053

5,296

Operating Segments [Member] | Pizza Hut [Member]

Segment Reporting Information [Line Items]

Revenues

599

561

1,750

1,556

Operating Profit

137

Total Assets

856

880

Operating Segments [Member] | All Other Segments [Member]

Segment Reporting Information [Line Items]

Revenues

201

186

585

491

Operating Profit

(7)

(9)

(20)

(39)

Total Assets

356

$ 381

Operating Segments [Member] | Corporate and Unallocated [Member]

Segment Reporting Information [Line Items]

Revenues

^[1]

222

194

Operating Segments [Member] | Revenue From External Customers [Member] | KFC [Member]

Segment Reporting Information [Line Items]

Revenues

2,186

2,017

6,368

5,628

Operating Segments [Member] | Revenue From External Customers [Member] | Pizza Hut [Member]

Segment Reporting Information [Line Items]

Revenues

599

561

1,750

1,556

Operating Segments [Member] | Revenue From External Customers [Member] | All Other Segments [Member]

Segment Reporting Information [Line Items]

Revenues

145

115

Operating Segments [Member] | Revenue From External Customers [Member] | Corporate and Unallocated [Member]

Segment Reporting Information [Line Items]

Revenues

^[1]

222

182

Operating Segments [Member] | Inter-Segment Revenue [Member] | All Other Segments [Member]

Segment Reporting Information [Line Items]

Revenues

151

145

440

376

Operating Segments [Member] | Inter-Segment Revenue [Member] | Corporate and Unallocated [Member]

Segment Reporting Information [Line Items]

Revenues

^[1]

Elimination [Member]

Segment Reporting Information [Line Items]

Revenues

(151)

(150)

(440)

(388)

Combined [Member]

Segment Reporting Information [Line Items]

Revenues

3,065

2,835

8,925

7,869

Combined [Member] | Revenue From External Customers [Member]

Segment Reporting Information [Line Items]

Revenues

2,914

2,685

8,485

7,481

Combined [Member] | Inter-Segment Revenue [Member]

Segment Reporting Information [Line Items]

Revenues

$ 151

$ 150

$ 440

$ 388

[1]	Amounts have not been allocated to any segment for performance reporting purposes.
[2]	Primarily includes store closure impairment charges and restaurant-level impairment charges resulting from our semi-annual impairment evaluation.
[3]	Primarily includes revenues and associated expenses of transactions with franchisees derived from the Company’s central procurement model whereby the Company centrally purchases substantially all food and paper products from suppliers then sells and delivers to KFC and Pizza Hut restaurants, including franchisees. Amounts have not been allocated to any segment for purposes of making operating decisions or assessing financial performance as the transactions are deemed corporate revenues and expenses in nature.
[4]	Primarily includes cash and cash equivalents, short-term investments, long-term bank deposits and notes, equity investments, inventories that are centrally managed and PP&E that are not specifically identifiable within each segment. As substantially all of the Company's revenue is derived from the PRC and substantially all of the Company's long-lived assets are located in the PRC, no geographical information is presented. In addition, revenue derived from and long-lived assets located in the U.S., the Company’s country of domicile, are immaterial.

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income - including noncontrolling interests	$ 267	$ 227	$ 794	$ 420
Other comprehensive loss, net of tax of nil:
Foreign currency translation adjustments	(29)	(306)	(274)	(573)
Comprehensive income (loss) - including noncontrolling interests	(238)	(79)	520	(153)
Comprehensive income (loss) - noncontrolling interests	(20)	(23)	29	(52)
Comprehensive Income (Loss) - Yum China Holdings, Inc.	$ (218)	$ (56)	$ 491	$ (101)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Note 10 – Goodwill and Intangible Assets

The changes in the carrying amount of goodwill are as follows:


	Total Company			KFC			Pizza Hut			All Other Segments
Balance as of December 31, 2022
Goodwill, gross	$	2,379		$	1,893		$	19		$	467
Accumulated impairment losses(a)		(391	)		—			—			(391	)
Goodwill, net		1,988			1,893			19			76
Effect of currency translation adjustments		(109	)		(104	)		(1	)		(4	)
Balance as of September 30, 2023
Goodwill, gross		2,270			1,789			18			463
Accumulated impairment losses(a)		(391	)		—			—			(391	)
Goodwill, net	$	1,879		$	1,789		$	18		$	72

(a)

Accumulated impairment losses represent goodwill impairment attributable to the reporting units of Little Sheep and Daojia.

Intangible assets, net as of September 30, 2023 and December 31, 2022 are as follows:


	9/30/2023										12/31/2022
	Gross Carrying Amount(a)		Accumulated Amortization(a)			Accumulated Impairment Losses(b)			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Accumulated Impairment Losses(b)			Net Carrying Amount
Finite-lived intangible assets
Reacquired franchise rights	$	261	$	(258	)	$	—		$	3	$	276	$	(271	)	$	—		$	5
Huang Ji Huang franchise related assets		20		(3	)		—			17		22		(3	)		—			19
Daojia platform		16		(4	)		(12	)		—		16		(4	)		(12	)		—
Customer-related assets		12		(10	)		(2	)		—		12		(9	)		(2	)		1
Others		8		(5	)		—			3		9		(5	)		—			4
	$	317	$	(280	)	$	(14	)	$	23	$	335	$	(292	)	$	(14	)	$	29
Indefinite-lived intangible assets
Little Sheep trademark	$	50	$	—		$	—		$	50	$	52	$	—		$	—		$	52
Huang Ji Huang trademark		74		—			—			74		78		—			—			78
	$	124	$	—		$	—		$	124	$	130	$	—		$	—		$	130

Total intangible assets	$	441	$	(280	)	$	(14	)	$	147	$	465	$	(292	)	$	(14	)	$	159

(a)

Changes in gross carrying amount and accumulated amortization include the effect of currency translation adjustments.

(b)

Accumulated impairment losses represent impairment charges on intangible assets acquired from Daojia primarily attributable to the Daojia platform.

Amortization expense for finite-lived intangible assets was $1 million and $24 million for the quarters ended September 30, 2023 and 2022, respectively, and $4 million and $76 million for the years to date ended September 30, 2023 and 2022, respectively. The decrease in amortized expense for finite-lived intangible assets in 2023 was primarily due to certain reacquired franchise rights being substantially amortized as of December 31, 2022 (See Note 8 for details). As of September 30, 2023, expected amortization expense for the unamortized finite-lived intangible assets is approximately $1 million for the remainder of 2023, and $2 million in each of 2024, 2025, 2026 and 2027.

Items Affecting Comparability of Net Income

9 Months Ended

Sep. 30, 2023

Items Affecting Comparability Of Net Income [Abstract]

Items Affecting Comparability of Net Income

Note 7 – Items Affecting Comparability of Net Income

Impact of COVID-19 Pandemic

Starting in the first quarter of 2020, the COVID-19 pandemic significantly impacted the Company’s operations and caused significant volatility in our operations. The Company’s tremendous efforts in seizing opportunities as the country pivoted from strict COVID-19 measures drove strong sales growth in 2023. Operating profit was $323 million and $316 million for the quarters ended September 30, 2023 and 2022, respectively, and $996 million and $588 million for the years to date ended September 30, 2023 and 2022, respectively. The increase in Operating profit for the quarter and year to date ended September 30, 2023 was primarily driven by sales leveraging, partially offset by lapping austerity measures and the temporary relief in the prior year. The temporary relief of $1 million and $30 million was recognized for the quarters ended September 30, 2023 and 2022, respectively, and $14 million and $61 million was recognized for the years to date ended September 30, 2023 and 2022, respectively.

Fair Value Changes for Investment in Equity Securities

In September 2018, we invested in the equity securities of Meituan, the fair value of which is determined based on the closing market price for the shares at the end of each reporting period, with subsequent fair value changes recorded as Investment loss in our Condensed Consolidated Statements of Income. We recorded related pre-tax unrealized investment loss of $4 million and $15 million for the quarters ended September 30, 2023 and 2022, respectively, and pre-tax unrealized investment loss of $33 million for both the years to date ended September 30, 2023 and 2022.

See Note 3 for additional information on our investment in Meituan.

Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2023

Sep. 30, 2022

Revenues

Total revenues

$ 2,914

$ 2,685

$ 8,485

$ 7,481

Costs and Expenses, Net

General and administrative expenses

169

157

485

449

Other operating costs and expenses

Closures and impairment expenses, net

Other expenses, net

Total costs and expenses, net

2,591

2,369

7,489

6,893

Operating Profit

323

316

996

588

Interest income, net

^[1]

124

Investment loss

^[1]

(4)

(15)

(32)

Income Before Income Taxes and Equity in Net Earnings (Losses) from Equity Method Investments

365

326

1,088

607

Income tax provision

(100)

(97)

(296)

(183)

Equity in net earnings (losses) from equity method investments

(2)

(4)

Net income – including noncontrolling interests

267

227

794

420

Net income – noncontrolling interests

Net Income – Yum China Holdings, Inc.

$ 244

$ 206

$ 730

$ 389

Weighted-average common shares outstanding (in millions):

Basic

^[2]

416

420

417

422

Diluted

^[2]

420

424

421

426

Basic Earnings Per Common Share

$ 0.59

$ 0.49

$ 1.75

$ 0.92

Diluted Earnings Per Common Share

$ 0.58

$ 0.49

$ 1.73

$ 0.92

Company Sales [Member]

Revenues

Revenues

$ 2,759

$ 2,561

$ 8,048

$ 7,135

Franchise [Member]

Revenues

Revenues

Costs and Expenses, Net

Cost of goods and services sold

Transactions With Franchisees [Member]

Revenues

Revenues

100

282

219

Costs and Expenses, Net

Cost of goods and services sold

270

212

Other Revenues [Member]

Revenues

Revenues

Company Restaurant Expenses [Member]

Costs and Expenses, Net

Food and paper

858

787

2,466

2,206

Payroll and employee benefits

699

603

2,047

1,819

Occupancy and other operating expenses

732

691

2,098

2,034

Cost of goods and services sold

$ 2,289

$ 2,081

$ 6,611

$ 6,059

[1]

Amounts have not been allocated to any segment for performance reporting purposes.

[2]

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	Oct. 31, 2023	Nov. 02, 2023	Sep. 30, 2023
Subsequent Event [Line Items]
Stock repurchase program, authorized amount			$ 2,400
Stock repurchase program, remaining authorized repurchase amount			$ 870
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends declared date	Oct. 31, 2023
Dividends payable, amount per share	$ 0.13
Dividends payable date	Dec. 19, 2023
Dividends payable, date of record	Nov. 28, 2023
Estimated cash dividend payable	$ 54
Increased Amount In Share Repurchase Authorization		$ 1,000
Stock repurchase program, authorized amount		3,400
Stock repurchase program, remaining authorized repurchase amount		$ 1,800

Short-term Borrowings (Additional Information) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Short-Term Debt [Line Items]
Short-term bank borrowing outstanding	$ 210	$ 2
Short-term investments	2,001	2,022
Short-Term Debt [Member]
Short-Term Debt [Line Items]
Short-term investments	$ 106	$ 1
Weighted average interest rate	1.70%

Leases - Summary of Lease Cost (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2023

Sep. 30, 2022

Lease, Cost [Abstract]

Operating lease cost

$ 125

$ 133

$ 386

$ 433

Finance lease cost

Amortization of leased assets

Interest on lease liabilities

Variable lease cost

^[1]

115

316

248

Short-term lease cost

Sub-lease income

(5)

(16)

(18)

Total lease cost

$ 240

$ 222

$ 703

$ 678

[1]

Other Expenses, Net (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2022

Sep. 30, 2023

Sep. 30, 2022

Other Income and Expenses [Abstract]

Amortization of reacquired franchise rights

^[1]

$ 24

$ 2

$ 74

Foreign exchange impact and others

(1)

Other expenses, net

$ 24

$ 1

$ 73

[1]

Revenue Recognition

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Note 4 – Revenue Recognition

The Company’s revenues include Company sales, Franchise fees and income, Revenues from transactions with franchisees, and Other revenues.

Company Sales

Franchise Fees and Income

Revenues from Transactions with Franchisees

Revenues from transactions with franchisees consist primarily of sales of food and paper products, advertising services, delivery services and other services provided to franchisees.

Other Revenues

Loyalty Programs

Disaggregation of Revenue

The following tables present revenue disaggregated by types of arrangements and segments:


	Quarter Ended 9/30/2023
Revenues	KFC		Pizza Hut		All Other Segments		Corporate and Unallocated		Combined		Elimination			Consolidated
Company sales	$	2,154	$	591	$	14	$	—	$	2,759	$	—		$	2,759
Franchise fees and income		16		2		5		—		23		—			23
Revenues from transactions with franchisees		12		1		20		67		100		—			100
Other revenues		4		5		162		12		183		(151	)		32
Total revenues	$	2,186	$	599	$	201	$	79	$	3,065	$	(151	)	$	2,914


	Quarter Ended 9/30/2022
Revenues	KFC		Pizza Hut		All Other Segments		Corporate and Unallocated		Combined		Elimination			Consolidated
Company sales	$	1,992	$	556	$	13	$	—	$	2,561	$	—		$	2,561
Franchise fees and income		15		2		5		—		22		—			22
Revenues from transactions with franchisees		9		1		11		59		80		—			80
Other revenues		1		2		157		12		172		(150	)		22
Total revenues	$	2,017	$	561	$	186	$	71	$	2,835	$	(150	)	$	2,685


	Year to Date Ended 9/30/2023
Revenues	KFC		Pizza Hut		All Other Segments		Corporate and Unallocated		Combined		Elimination			Consolidated
Company sales	$	6,274	$	1,728	$	46	$	—	$	8,048	$	—		$	8,048
Franchise fees and income		48		6		15		—		69		—			69
Revenues from transactions with franchisees		33		3		56		190		282		—			282
Other revenues		13		13		468		32		526		(440	)		86
Total revenues	$	6,368	$	1,750	$	585	$	222	$	8,925	$	(440	)	$	8,485


	Year to Date Ended 9/30/2022
Revenues	KFC		Pizza Hut		All Other Segments		Corporate and Unallocated		Combined		Elimination			Consolidated
Company sales	$	5,554	$	1,541	$	40	$	—	$	7,135	$	—		$	7,135
Franchise fees and income		44		6		15		—		65		—			65
Revenues from transactions with franchisees		24		3		29		163		219		—			219
Other revenues		6		6		407		31		450		(388	)		62
Total revenues	$	5,628	$	1,556	$	491	$	194	$	7,869	$	(388	)	$	7,481

Accounts Receivable

Costs to Obtain Contracts

Costs to obtain contracts consist of upfront franchise fees that we paid to YUM prior to the separation in relation to initial fees or renewal fees we received from franchisees, as well as license fees that are payable to YUM in relation to our deferred revenue of prepaid stored-value products, privilege membership programs and customer loyalty programs. They meet the requirements to be capitalized as they are incremental costs of obtaining contracts with customers and the Company expects to generate future economic benefits from such costs incurred. Such costs to obtain contracts are included in Other assets on the Condensed Consolidated Balance Sheets and are amortized on a systematic basis that is consistent with the transfer to the customer of the goods or services to which the assets relate. Subsequent to the separation, we are no longer required to pay YUM initial or renewal fees that we receive from franchisees. The Company did not incur any impairment losses related to costs to obtain contracts during any of the periods presented. Costs to obtain contracts were both $6 million at September 30, 2023 and December 31, 2022, respectively.

Contract Liabilities

Contract liabilities at September 30, 2023 and December 31, 2022 were as follows:


Contract liabilities	9/30/2023		12/31/2022
– Deferred revenue related to prepaid stored-value products	$	134	$	139
– Deferred revenue related to upfront franchise fees		34		32
– Deferred revenue related to customer loyalty programs		24		23
– Deferred revenue related to privilege membership programs		21		16
– Others		1		—
Total	$	214	$	210

Contract liabilities primarily consist of deferred revenue related to prepaid stored-value products, privilege membership programs, customer loyalty programs and upfront franchise fees. Deferred revenue related to prepaid stored-value products, privilege membership programs and customer loyalty programs is included in Accounts payable and other current liabilities in the Condensed Consolidated Balance Sheets. Deferred revenue related to upfront franchise fees that we expect to recognize as revenue in the next 12 months is included in Accounts payable and other current liabilities, and the remaining balance is included in Other liabilities in the Condensed Consolidated Balance Sheets. Revenue recognized that was included in the contract liability balance at the beginning of each period amounted to $53 million and $60 million for the quarters ended September 30, 2023 and 2022, respectively, and $97 million and $103 million for the years to date ended September 30, 2023 and 2022, respectively. Changes in contract liability balances were not materially impacted by business acquisition, change in estimate of transaction price or any other factors during any of the periods presented.

The Company has elected, as a practical expedient, not to disclose the value of remaining performance obligations associated with sales-based royalty promised to franchisees in exchange for franchise right and other related services. The remaining duration of the performance obligation is the remaining contractual term of each franchise agreement. We recognize continuing franchisee fees and revenues from advertising services and other services provided to franchisees based on a certain percentage of sales, as those sales occur.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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+ Details

Description of Business

9 Months Ended

Sep. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of Business

Note 1 – Description of Business

Yum China Holdings, Inc. (“Yum China” and, together with its subsidiaries, the “Company,” “we,” “us” and “our”) was incorporated in Delaware on April 1, 2016.

The Company owns, franchises or has ownership in entities that own and operate restaurants (also referred to as “stores” or “units”) under the KFC, Pizza Hut, Taco Bell, Lavazza, Little Sheep and Huang Ji Huang concepts (collectively, the “concepts”). In connection with the separation of the Company in 2016 from its former parent company, Yum! Brands, Inc. (“YUM”), a master license agreement was entered into between Yum Restaurants Consulting (Shanghai) Company Limited (“YCCL”), a wholly-owned indirect subsidiary of the Company and YUM, through YRI China Franchising LLC, a subsidiary of YUM, effective from January 1, 2020 and previously through Yum! Restaurants Asia Pte. Ltd., another subsidiary of YUM, from October 31, 2016 to December 31, 2019, for the exclusive right to use and sublicense the use of intellectual property owned by YUM and its subsidiaries for the development and operation of the KFC, Pizza Hut and, subject to achieving certain agreed-upon milestones amended in April 2022, Taco Bell brands and their related marks and other intellectual property rights for restaurant services in the People’s Republic of China (the “PRC” or “China”), excluding Hong Kong, Macau and Taiwan. The term of the license is 50 years from October 31, 2016 for the KFC and Pizza Hut brands and, subject to achieving certain agreed-upon milestones, 50 years from April 15, 2022 for the Taco Bell brand, with automatic renewals for additional consecutive renewal terms of 50 years each, subject only to us being in “good standing” and unless we give notice of our intent not to renew. In exchange, we pay a license fee to YUM equal to 3% of net system sales from both our Company and franchise restaurants. We own the intellectual property of Little Sheep and Huang Ji Huang and pay no license fee related to these concepts.

In 1987, KFC was the first major global restaurant brand to enter China. As of September 30, 2023, there were over 9,900 KFC stores in China. We maintain a controlling interest of 58%, 70%, 83%, 92% and approximately 60% in the entities that own and operate the KFCs in and around Shanghai, Beijing, Wuxi, Suzhou and Hangzhou, respectively.

The first Pizza Hut in China opened in 1990. As of September 30, 2023, there were over 3,200 Pizza Hut restaurants in China.

In the second quarter of 2020, the Company partnered with Luigi Lavazza S.p.A. (“Lavazza Group”), the world-renowned family-owned Italian coffee company, and entered into a joint venture to explore and develop the Lavazza coffee concept in China. In September 2021, the Company and Lavazza Group entered into agreements for the previously formed joint venture (“Lavazza joint venture”) to accelerate the expansion of Lavazza coffee shops in China. Upon execution of these agreements, the Company controls and consolidates the joint venture with its 65% equity interest. The acquisition was considered immaterial.

In 2017, the Company acquired a controlling interest in the holding company of DAOJIA.com.cn (“Daojia”), an online food delivery service provider in China. This business was extended to also include a team managing the delivery services for restaurants, including restaurants in our system, with their results reported under our delivery operating segment.

As part of our strategy to drive growth from off-premise occasions, we also developed our own retail brand operations, Shaofaner, which sells packaged foods through online and offline channels. The operating results of Shaofaner are included in our e-commerce business operating segment.

The Company has two reportable segments: KFC and Pizza Hut. Our remaining operating segments, including the operations of Taco Bell, Lavazza, Little Sheep, Huang Ji Huang, our delivery operating segment and our e-commerce business, are combined and referred to as All Other Segments, as those operating segments are insignificant both individually and in the aggregate. For 2022, All Other Segments also included COFFii & JOY and East Dawning. The Company decided to wind down the operations of the East Dawning brand in 2021, and closed all stores by March 2022. In addition, the Company decided to wind down the operations of COFFii & JOY and closed all stores in 2022. Additional details on our segment reporting are included in Note 15.

The Company’s common stock is listed on the New York Stock Exchange (“NYSE”) under the symbol “YUMC”. On September 10, 2020, the Company completed a secondary listing of its common stock on the Main Board of the Hong Kong Stock Exchange (“HKEX”) under the stock code “9987,” in connection with a global offering of 41,910,700 shares of its common stock. Net proceeds raised by the Company from the global offering after deducting underwriting fees and the offering expenses amounted to $2.2 billion. On October 24, 2022, the Company’s voluntary conversion of its secondary listing status to a primary listing status on the HKEX became effective (“Primary Conversion”) and the Company became a dual primary listed company on the NYSE and HKEX. On the same day, the Company’s shares of common stock traded on the HKEX were included in the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect. The Company’s common stock listed on the NYSE and HKEX continue to be fully fungible.

Fair Value Measurements and Disclosures

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements and Disclosures

Note 13 – Fair Value Measurements and Disclosures

The Company’s financial assets and liabilities primarily consist of cash and cash equivalents, short-term investments, long-term bank deposits and notes, accounts receivable, accounts payable, short-term borrowings and lease liabilities, and the carrying values of these assets and liabilities approximate their fair value in general.

The Company’s financial assets also include its investment in the equity securities of Meituan, which is measured at fair value based on the closing market price for the shares at the end of each reporting period, with subsequent fair value changes recorded in our Condensed Consolidated Statements of Income.

The following table is a summary of our financial assets measured on a recurring basis or disclosed at fair value and the level within the fair value hierarchy in which the measurement falls. The Company classifies its cash equivalents, short-term investments, long-term bank deposits and notes, and investment in equity securities within Level 1 or Level 2 in the fair value hierarchy because it uses quoted market prices or alternative pricing sources and models utilizing market observable inputs to determine their fair value, respectively. No transfers among the levels within the fair value hierarchy occurred during the quarters and years to date ended September 30, 2023 and 2022.


			Fair Value Measurement or Disclosure at September 30, 2023
	Balance at September 30, 2023		Level 1		Level 2		Level 3
Cash equivalents:
Time deposits	$	377			$	377
Money market funds		11		11
Total cash equivalents		388		11		377		—
Short-term investments:
Time deposits		1,622				1,622
Fixed income debt securities(a)		200				200
Structured deposits		152				152
Variable return investments		27		27
Total short-term investments		2,001		27		1,974		—
Long-term bank deposits and notes:
Time deposits		879				879
Fixed income bank notes(a)		358				358
Total long-term bank deposits and notes		1,237		—		1,237		—
Equity investments:
Investment in equity securities		62		62
Total	$	3,688	$	100	$	3,588	$	—


			Fair Value Measurement or Disclosure at December 31, 2022
	Balance at December 31, 2022		Level 1		Level 2		Level 3
Cash equivalents:
Time deposits	$	355			$	355
Fixed income debt securities(a)		129		29		100
Money market funds		59		59
Total cash equivalents		543		88		455		—
Short-term investments:
Time deposits		1,434				1,434
Fixed income debt securities(a)		500				500
Structured deposits		88				88
Total short-term investments		2,022		—		2,022		—
Long-term bank deposits and notes:
Time deposits		680				680
Equity investments:
Investment in equity securities		95		95
Total	$	3,340	$	183	$	3,157	$	—

(a)

Classified as held-to-maturity investments and measured at amortized cost.

The Company is required to place bank deposits or purchase insurance to secure the balance of prepaid stored-value cards issued by the Company pursuant to regulatory requirements. $21 million of time deposits in Short-term investments and $27 million of time deposits in Long-term bank deposits and notes were restricted for use as of September 30, 2023, and $81 million of time deposits in Long-term bank deposits and notes was restricted for use as of December 31, 2022. The decrease was primarily due to insurance purchased by the Company to secure a portion of prepaid stored-value cards.

Non-Recurring Fair Value Measurements


	Quarter Ended				Year to Date Ended
	9/30/2023		9/30/2022		9/30/2023		9/30/2022		Account Classification
Restaurant-level impairment(a)	$	—	$	—	$	14	$	15	Closure and impairment expenses, net

Restaurant-level impairment charges are recorded in Closures and impairment expenses, net and resulted mainly from our semi-annual impairment evaluation of long-lived assets of individual restaurants that were being operated at the time of impairment and had not been offered for refranchising. After considering the impairment charges recorded during the corresponding periods, the fair value of such assets as of the relevant measurement date was $55 million and $67 million for the years to date ended September 30, 2023 and 2022, respectively.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Equity - Narrative (Details) - USD ($) shares in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Class Of Stock [Line Items]
Stock repurchase program, authorized amount	$ 2,400
Treasury stock repurchased, shares	0.9	9.3
Treasury stock repurchased, value	$ 281	$ 413
Stock repurchase program, remaining authorized repurchase amount	$ 870
Excise tax on net share repurchases	1.00%
Excise tax on net share repurchases cost	$ 3
$2 Million Settled Subsequent to June 30, 2023 [Member]
Class Of Stock [Line Items]
Treasury stock repurchased, cost	$ 2	$ 2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Other Expenses, Net (Parenthetical) (Details) - Reacquired Franchise Rights [Member] - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2020
Suzhou KFC [Member]
Other Operating Income Expense Net [Line Items]
Purchase price allocated to intangible assets	$ 61	$ 61
Remaining franchise contract period	2 years 4 months 24 days	2 years 4 months 24 days
Hangzhou KFC [Member]
Other Operating Income Expense Net [Line Items]
Purchase price allocated to intangible assets	$ 66
Remaining franchise contract period	1 year
Wuxi KFC [Member]
Other Operating Income Expense Net [Line Items]
Purchase price allocated to intangible assets	$ 61
Remaining franchise contract period	5 years

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Treasury Stock [Member]	Noncontrolling Interests [Member]	Redeemable Noncontrolling Interest [Member]
Balance at Dec. 31, 2021	$ 7,908	$ 4	$ 4,695	$ 2,892	$ 268	$ (803)	$ 852	$ 14
Balance (in shares) at Dec. 31, 2021		449				(21)
Net Income	420			389			31
Foreign currency translation adjustments	(573)				(490)		(83)
Comprehensive income (loss) - including noncontrolling interests	(153)
Cash dividends declared	(152)			(152)
Distributions to/contributions from noncontrolling interests	(63)						(63)
Repurchase and retirement of shares	(413)		(315)	(901)		$ 803
Repurchase and retirement of shares (shares)		(30)				21
Exercise and vesting of share-based awards	(3)		(3)
Exercise and vesting of share-based awards, shares		1
Share-based compensation	31		31
Acquisition of noncontrolling interest								(1)
Balance at Sep. 30, 2022	7,155	$ 4	4,408	2,228	(222)		737	13
Balance (in shares) at Sep. 30, 2022		419
Balance at Dec. 31, 2021	7,908	$ 4	4,695	2,892	268	$ (803)	852	14
Balance (in shares) at Dec. 31, 2021		449				(21)
Acquisition of noncontrolling interest			15
Balance at Dec. 31, 2022	7,148	$ 4	4,390	2,191	(103)		666	12
Balance (in shares) at Dec. 31, 2022		419
Balance at Jun. 30, 2022	7,289	$ 4	4,402	2,083	40		760	13
Balance (in shares) at Jun. 30, 2022		420
Net Income	227			206			21
Foreign currency translation adjustments	(306)				(262)		(44)
Comprehensive income (loss) - including noncontrolling interests	(79)
Cash dividends declared	(51)			(51)
Repurchase and retirement of shares	(13)		(3)	(10)
Exercise and vesting of share-based awards	(1)		(1)
Share-based compensation	10		10
Balance at Sep. 30, 2022	7,155	$ 4	4,408	2,228	(222)		737	13
Balance (in shares) at Sep. 30, 2022		419
Balance at Dec. 31, 2022	7,148	$ 4	4,390	2,191	(103)		666	12
Balance (in shares) at Dec. 31, 2022		419
Net Income	794			730			64	1
Foreign currency translation adjustments	(274)				(238)		(36)
Comprehensive income (loss) - including noncontrolling interests	520							1
Cash dividends declared	(162)			(162)
Distributions to/contributions from noncontrolling interests	(19)						(19)
Repurchase and retirement of shares	(285)		(52)	(233)
Repurchase and retirement of shares (shares)		(5)
Exercise and vesting of share-based awards	(2)		(2)
Exercise and vesting of share-based awards, shares		1
Share-based compensation	46		46
Balance at Sep. 30, 2023	7,246	$ 4	4,382	2,526	(341)		675	13
Balance (in shares) at Sep. 30, 2023		415
Balance at Jun. 30, 2023	7,205	$ 4	4,396	2,465	(316)		656	12
Balance (in shares) at Jun. 30, 2023		417
Net Income	267			244			23	1
Foreign currency translation adjustments	(29)				(25)		(4)
Comprehensive income (loss) - including noncontrolling interests	(238)							1
Cash dividends declared	(54)			(54)
Repurchase and retirement of shares	(160)		(31)	(129)
Repurchase and retirement of shares (shares)		(3)
Share-based compensation	17		17
Balance at Sep. 30, 2023	$ 7,246	$ 4	$ 4,382	$ 2,526	$ (341)		$ 675	$ 13
Balance (in shares) at Sep. 30, 2023		415

Supplemental Balance Sheet Information (Tables)

9 Months Ended

Sep. 30, 2023

Balance Sheet Related Disclosures [Abstract]

Accounts Receivable, Net


Accounts Receivable, net	9/30/2023			12/31/2022
Accounts receivable, gross	$	64		$	66
Allowance for doubtful accounts		(2	)		(2	)
Accounts receivable, net	$	62		$	64

Prepaid Expenses and Other Current Assets


Prepaid Expenses and Other Current Assets	9/30/2023		12/31/2022
VAT assets	$	84	$	88
Receivables from payment processors and aggregators		52		53
Interest receivables		36		31
Deposits, primarily lease deposits		26		24
Dividends receivable from equity method investees		8		6
Other prepaid expenses and current assets		104		105
Prepaid expenses and other current assets	$	310	$	307

Property, Plant and Equipment


Property, Plant and Equipment (“PP&E”)	9/30/2023			12/31/2022
Buildings and improvements, and construction in progress	$	2,893		$	2,912
Finance leases, primarily buildings		63			62
Machinery and equipment		1,635			1,612
PP&E, gross		4,591			4,586
Accumulated depreciation		(2,474	)		(2,468	)
PP&E, net	$	2,117		$	2,118

Equity Investments


Equity Investments	9/30/2023		12/31/2022
Investment in equity method investees	$	257	$	266
Investment in equity securities		62		95
Equity investments	$	319	$	361

Accounts Payable and Other Current Liabilities


Other Assets	9/30/2023		12/31/2022
Land use right	$	113	$	123
Long-term deposits, primarily lease deposits		89		90
Prepayment for acquisition of PP&E(a)		29		6
Costs to obtain contracts		6		6
VAT assets		6		5
Others		16		18
Other assets	$	259	$	248

(a)


Accounts Payable and Other Current Liabilities	9/30/2023		12/31/2022
Accounts payable	$	758	$	727
Operating lease liabilities		405		448
Accrued compensation and benefits		306		285
Contract liabilities		186		182
Accrued capital expenditures		180		181
Dividends payable		79		51
Accrued marketing expenses		85		72
Other current liabilities		130		150
Accounts payable and other current liabilities	$	2,129	$	2,096

Other Liabilities and Deferred Credits


Other Liabilities	9/30/2023		12/31/2022
Accrued income tax payable	$	38	$	52
Contract liabilities		28		28
Other non-current liabilities		81		82
Other liabilities	$	147	$	162

Leases - Summary of Maturities of Lease Liabilities (Details)
$ in Millions

Sep. 30, 2023

USD ($)

Amount of Operating Leases

$ 148

461

406

359

306

922

Total undiscounted lease payment

2,602

Less: imputed interest

410

^[1]

Present value of lease liabilities

2,192

Amount of Finance Leases

Total undiscounted lease payment

Less: imputed interest

^[1]

Present value of lease liabilities

Amount of Operating And Finance Leases, Total

150

467

412

365

311

956

Total undiscounted lease payment

2,661

Less: imputed interest

424

^[1]

Present value of lease liabilities

$ 2,237

[1]

Leases - Schedule of Supplemental Cash Flow Information (Details) - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2023

Sep. 30, 2022

Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows from operating leases

$ 401

$ 416

Operating cash flows from finance leases

Financing cash flows from finance leases

Right-of-use assets obtained in exchange for new lease liabilities

Operating leases

^[1]

281

106

Finance leases

^[1]

$ 4

[1]

Leases

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Leases

Note 12 – Leases

As of September 30, 2023, we leased over 12,000 properties in China for our Company-owned restaurants. We generally enter into lease agreements for our restaurants with initial terms of 10 to 20 years. Most of our lease agreements contain termination options that permit us to terminate the lease agreement early if the restaurant’s unit contribution is negative for a specified period of time. We generally do not have renewal options for our leases. Such options are accounted for only when it is reasonably certain that we will exercise the options. The rent under the majority of our current restaurant lease agreements is generally payable in one of three ways: (i) fixed rent; (ii) the higher of a fixed base rent or a percentage of the restaurant’s sales; or (iii) a percentage of the restaurant’s sales. Most leases require us to pay common area maintenance fees for the leased property. In addition to restaurants leases, we also lease office spaces, logistics centers and equipment. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

In limited cases, we sub-lease certain restaurants to franchisees in connection with refranchising transactions or lease our properties to other third parties. The lease payments under these leases are generally based on the higher of a fixed base rent or a percentage of the restaurant’s annual sales. Income from sub-lease agreements with franchisees or lease agreements with other third parties are included in Franchise fees and income and Other revenues, respectively, within our Condensed Consolidated Statements of Income.


Supplemental Balance Sheet
	9/30/2023		12/31/2022		Account Classification
Assets
Operating lease right-of-use assets	$	2,083	$	2,219	Operating lease right-of-use assets
Finance lease right-of-use assets		38		38	PP&E, net
Total leased assets(a)	$	2,121	$	2,257

Liabilities
Current
Operating lease liabilities	$	405	$	448	Accounts payable and other current liabilities
Finance lease liabilities		4		5	Accounts payable and other current liabilities
Non-current
Operating lease liabilities		1,787		1,906	Non-current operating lease liabilities
Finance lease liabilities		41		42	Non-current finance lease liabilities
Total lease liabilities(a)	$	2,237	$	2,401


Summary of Lease Cost	Quarter Ended						Year to Date Ended
	9/30/2023			9/30/2022			9/30/2023			9/30/2022			Account Classification

Operating lease cost	$	125		$	133		$	386		$	433		Occupancy and other operating expenses, G&A or Franchise expenses
Finance lease cost
Amortization of leased assets		1			1			3			3		Occupancy and other operating expenses
Interest on lease liabilities		1			1			2			2		Interest income, net
Variable lease cost(b)		115			89			316			248		Occupancy and other operating expenses or Franchise expenses
Short-term lease cost		3			3			12			10		Occupancy and other operating expenses or G&A
Sub-lease income		(5	)		(5	)		(16	)		(18	)	Franchise fees and income or Other revenues
Total lease cost	$	240		$	222		$	703		$	678

(a)

(b)


Supplemental Cash Flow Information	Year to Date Ended
	9/30/2023		9/30/2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	401	$	416
Operating cash flows from finance leases		2		2
Financing cash flows from finance leases		4		3
Right-of-use assets obtained in exchange for lease liabilities(c):
Operating leases	$	281	$	106
Finance leases		4		4

(c)



Lease Term and Discount Rate	9/30/2023			9/30/2022
Weighted-average remaining lease term (years)
Operating leases		7.1			7.1
Finance leases		11.1			11.3

Weighted-average discount rate
Operating leases		4.9	%		5.2	%
Finance leases		5.0	%		5.3	%

Summary of Future Lease Payments and Lease Liabilities

Maturities of lease liabilities as of September 30, 2023 were as follows:


	Amount of Operating Leases		Amount of Finance Leases		Total
Remainder of 2023	$	148	$	2	$	150
2024		461		6		467
2025		406		6		412
2026		359		6		365
2027		306		5		311
Thereafter		922		34		956
Total undiscounted lease payment		2,602		59		2,661
Less: imputed interest(d)		410		14		424
Present value of lease liabilities	$	2,192	$	45	$	2,237

(d)

As of September 30, 2023, we have additional lease agreements that have been signed but not yet commenced, with total undiscounted minimum lease payments of $122 million. These leases will commence between the fourth quarter of 2023 and 2026 with lease terms of 1 year to 20 years.

Leases - Summary of Lease Cost (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Schedule Of Lease Assets And Liabilities [Line Items]
Lease concessions from landlords related to the effects of COVID-19		$ 13	$ 10	$ 27
Maximum [Member]
Schedule Of Lease Assets And Liabilities [Line Items]
Lease concessions from landlords related to the effects of COVID-19	$ 1

Business Acquisitions and Equity Investments - Narrative (Details) shares in Millions, $ in Millions	3 Months Ended					9 Months Ended		12 Months Ended
	Sep. 30, 2023 USD ($) Restaurant	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Mar. 31, 2021 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2023 USD ($) Restaurant	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2020 USD ($)	Jun. 30, 2020 shares	Sep. 30, 2018 USD ($) shares
Business Acquisitions And Equity Investments [Line Items]
Number of restaurants \| Restaurant	12,000					12,000
Due to related parties, current	$ 130					$ 130		$ 150
Additional Paid-in Capital [Member]
Business Acquisitions And Equity Investments [Line Items]
Acquisition of noncontrolling interest								15
Fujian Sunner Development Co., Ltd. [Member]
Business Acquisitions And Equity Investments [Line Items]
Percentage of equity interest acquired				5.00%
Total consideration paid to acquire interest				$ 261
Purchase of inventories	136	$ 116				392	$ 307
Investment carrying amount						217		227
Market value	164					164		214
Investment in net assets excess of carrying amount	$ 148					$ 148		157
Finite-lived intangible asset, useful life	20 years					20 years
Fujian Sunner Development Co., Ltd. [Member] \| Finite-Lived Intangible Assets [Member]
Business Acquisitions And Equity Investments [Line Items]
Investment in net assets excess of carrying amount	$ 16					$ 16		18
Fujian Sunner Development Co., Ltd. [Member] \| Accounts payable and other current liabilities [Member] \| Related Party [Member]
Business Acquisitions And Equity Investments [Line Items]
Due to related parties, current	50					50		53
Meituan Dianping [Member]
Business Acquisitions And Equity Investments [Line Items]
Unrealized investment gain (loss)	$ (4)	$ (15)				$ (33)	$ (33)
Number of ordinary shares subscribed \| shares											8.4
Maximum percentage of ordinary shares subscribed											1.00%
Fair value of Investment in Meituan's ordinary shares											$ 74
Number of ordinary shares sold \| shares										4.2
Reacquired Franchise Rights [Member] \| Hangzhou KFC [Member]
Business Acquisitions And Equity Investments [Line Items]
Purchase price allocated to intangible assets			$ 66
Remaining franchise contract period			1 year
Hangzhou KFC [Member]
Business Acquisitions And Equity Investments [Line Items]
Percentage of equity interest previously held by company			47.00%
Percentage of equity interest by company			60.00%
Hangzhou Catering [Member]
Business Acquisitions And Equity Investments [Line Items]
Percentage of additional equity interest acquired			28.00%
Cash consideration paid to acquire interest			$ 255
Number of restaurants \| Restaurant	60					60
Investment carrying amount						$ 39		37
Investment in net assets excess of carrying amount	$ 24					$ 24		$ 26
Finite-lived intangible asset, useful life	20 years					20 years
Hangzhou Catering [Member] \| Hangzhou KFC [Member]
Business Acquisitions And Equity Investments [Line Items]
Percentage of equity interest acquired			45.00%
Hangzhou Catering [Member] \| Unconsolidated Affiliates [Member]
Business Acquisitions And Equity Investments [Line Items]
Percentage of equity interest acquired	28.00%					28.00%
Suzhou KFC [Member]
Business Acquisitions And Equity Investments [Line Items]
Percentage of additional equity interest acquired					25.00%			20.00%
Equity interest in acquiree, including subsequent acquisition, percentage					72.00%			92.00%
Cash consideration paid to acquire interest					$ 149			$ 115
Suzhou KFC [Member] \| Reacquired Franchise Rights [Member]
Business Acquisitions And Equity Investments [Line Items]
Purchase price allocated to intangible assets	$ 61					$ 61			$ 61
Remaining franchise contract period	2 years 4 months 24 days					2 years 4 months 24 days			2 years 4 months 24 days

Fair Value Measurements and Disclosures - Narrative (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Equity Level 1 To Level 2 Transfer Amount	$ 0		$ 0
Fair Value Equity Level 2 To Level 1 Transfer Amount	0		$ 0
Restricted time deposits in short term investments	21,000,000
Restricted time deposits in long term investments and notes	$ 27,000,000	$ 81,000,000

Income Taxes - Narrative (Details)	1 Months Ended
Income Taxes - Narrative (Details)	Aug. 31, 2022
Income Tax Disclosure [Abstract]
Corporate alternative minimum tax rate	15.00%

Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment


	Quarter Ended 9/30/2023
Revenues	KFC		Pizza Hut		All Other Segments		Corporate and Unallocated(a)		Combined		Elimination			Consolidated
Revenue from external customers	$	2,186	$	599	$	50	$	79	$	2,914	$	—		$	2,914
Inter-segment revenue		—		—		151		—		151		(151	)		—
Total	$	2,186	$	599	$	201	$	79	$	3,065	$	(151	)	$	2,914


	Quarter Ended 9/30/2022
Revenues	KFC		Pizza Hut		All Other Segments		Corporate and Unallocated(a)		Combined		Elimination			Consolidated
Revenue from external customers	$	2,017	$	561	$	41	$	66	$	2,685	$	—		$	2,685
Inter-segment revenue		—		—		145		5		150		(150	)		—
Total	$	2,017	$	561	$	186	$	71	$	2,835	$	(150	)	$	2,685


	Year to Date Ended 9/30/2023
Revenues	KFC		Pizza Hut		All Other Segments		Corporate and Unallocated(a)		Combined		Elimination			Consolidated
Revenue from external customers	$	6,368	$	1,750	$	145	$	222	$	8,485	$	—		$	8,485
Inter-segment revenue		—		—		440		—		440		(440	)		—
Total	$	6,368	$	1,750	$	585	$	222	$	8,925	$	(440	)	$	8,485


	Year to Date Ended 9/30/2022
Revenues	KFC		Pizza Hut		All Other Segments		Corporate and Unallocated(a)		Combined		Elimination			Consolidated
Revenue from external customers	$	5,628	$	1,556	$	115	$	182	$	7,481	$	—		$	7,481
Inter-segment revenue		—		—		376		12		388		(388	)		—
Total	$	5,628	$	1,556	$	491	$	194	$	7,869	$	(388	)	$	7,481


	Quarter Ended						Year to Date Ended
Operating Profit (Loss)	9/30/2023			9/30/2022			9/30/2023			9/30/2022
KFC	$	342		$	328		$	1,035		$	670
Pizza Hut		47			49			137			90
All Other Segments		(7	)		(9	)		(20	)		(39	)
Unallocated revenues from transactions with franchisees(b)		67			59			190			163
Unallocated other revenues		12			12			32			31
Unallocated expenses for transactions with franchisees(b)		(66	)		(58	)		(188	)		(163	)
Unallocated other operating costs and expenses		(12	)		(10	)		(30	)		(28	)
Unallocated and corporate G&A expenses		(60	)		(55	)		(161	)		(138	)
Unallocated other income, net		—			—			1			2
Operating Profit	$	323		$	316		$	996		$	588
Interest income, net(a)		46			25			124			51
Investment loss(a)		(4	)		(15	)		(32	)		(32	)
Income Before Income Taxes and Equity in Net Earnings (Losses) from Equity Method Investments	$	365		$	326		$	1,088		$	607


	Quarter Ended				Year to Date Ended
Impairment Charges	9/30/2023		9/30/2022		9/30/2023		9/30/2022
KFC(c)	$	2	$	5	$	14	$	24
Pizza Hut(c)		1		—		6		5
All Other Segments(c)		—		2		4		8
	$	3	$	7	$	24	$	37


	Total Assets
	9/30/2023		12/31/2022
KFC	$	5,053	$	5,296
Pizza Hut		856		880
All Other Segments		356		381
Corporate and Unallocated(d)		5,805		5,269
	$	12,070	$	11,826

(a)

Amounts have not been allocated to any segment for performance reporting purposes.

(b)

(c)

Primarily includes store closure impairment charges and restaurant-level impairment charges resulting from our semi-annual impairment evaluation.

(d)

Contingencies - Narrative (Details) - USD ($)	1 Months Ended
Contingencies - Narrative (Details) - USD ($)	Feb. 28, 2015	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Income tax rate on gains derived from indirect transfer of assets	10.00%
Percentage of tax assessed on difference between fair market value and tax basis	10.00%
Guarantees outstanding of unconsolidated affiliates		$ 0

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Finite-lived intangible assets
Finite-lived intangible assets, amortization expense	$ 1	$ 24	$ 4	$ 76
Expected amortization expense for the unamortized finite-lived intangible assets - remainder of 2023	1		1
Expected amortization expense for the unamortized finite-lived intangible assets - 2024	2		2
Expected amortization expense for the unamortized finite-lived intangible assets - 2025	2		2
Expected amortization expense for the unamortized finite-lived intangible assets - 2026	2		2
Expected amortization expense for the unamortized finite-lived intangible assets - 2027	$ 2		$ 2

Fair Value Measurements and Disclosures (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Assets Measured on Recurring Basis or Disclosed at Fair Value


			Fair Value Measurement or Disclosure at September 30, 2023
	Balance at September 30, 2023		Level 1		Level 2		Level 3
Cash equivalents:
Time deposits	$	377			$	377
Money market funds		11		11
Total cash equivalents		388		11		377		—
Short-term investments:
Time deposits		1,622				1,622
Fixed income debt securities(a)		200				200
Structured deposits		152				152
Variable return investments		27		27
Total short-term investments		2,001		27		1,974		—
Long-term bank deposits and notes:
Time deposits		879				879
Fixed income bank notes(a)		358				358
Total long-term bank deposits and notes		1,237		—		1,237		—
Equity investments:
Investment in equity securities		62		62
Total	$	3,688	$	100	$	3,588	$	—


			Fair Value Measurement or Disclosure at December 31, 2022
	Balance at December 31, 2022		Level 1		Level 2		Level 3
Cash equivalents:
Time deposits	$	355			$	355
Fixed income debt securities(a)		129		29		100
Money market funds		59		59
Total cash equivalents		543		88		455		—
Short-term investments:
Time deposits		1,434				1,434
Fixed income debt securities(a)		500				500
Structured deposits		88				88
Total short-term investments		2,022		—		2,022		—
Long-term bank deposits and notes:
Time deposits		680				680
Equity investments:
Investment in equity securities		95		95
Total	$	3,340	$	183	$	3,157	$	—

(a)

Classified as held-to-maturity investments and measured at amortized cost.

Schedule of Amounts Recognized From Non-recurring Fair Value Measurements


	Quarter Ended				Year to Date Ended
	9/30/2023		9/30/2022		9/30/2023		9/30/2022		Account Classification
Restaurant-level impairment(a)	$	—	$	—	$	14	$	15	Closure and impairment expenses, net

Items Affecting Comparability of Net Income - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Operating profit	$ 323	$ 316	$ 996	$ 588
Meituan Dianping [Member]
Unrealized investment gain (loss)	(4)	(15)	(33)	(33)
COVID-19 [Member]
Temporary relief recognized	$ 1	$ 30	$ 14	$ 61