2017 Q4 Form 10-K Financial Statement

#000156459019004944 Filed on February 27, 2019

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $2.130B $1.841B
YoY Change 13.12% 15.93%
Cost Of Revenue $978.0M $453.0M
YoY Change 9.89% -43.66%
Gross Profit $1.060B $1.388B
YoY Change 6.75% 77.04%
Gross Profit Margin 49.77% 75.39%
Selling, General & Admin $742.0M $620.0M
YoY Change 5.55% -6.34%
% of Gross Profit 70.0% 44.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $144.0M $105.0M $96.00M
YoY Change 10.77% 3.96% -6.8%
% of Gross Profit 9.91% 6.92%
Operating Expenses $762.0M $635.0M
YoY Change 5.39% -6.48%
Operating Profit $264.0M $171.0M
YoY Change -7.69% 96.55%
Interest Expense $28.00M $16.00M
YoY Change 40.0% 14.29%
% of Operating Profit 10.61% 9.36%
Other Income/Expense, Net
YoY Change
Pretax Income $272.0M $175.0M
YoY Change -5.88% 96.63%
Income Tax $87.00M $43.00M
% Of Pretax Income 31.99% 24.57%
Net Earnings $176.0M $125.0M
YoY Change -8.33% 62.34%
Net Earnings / Revenue 8.26% 6.79%
Basic Earnings Per Share $0.46 $0.32
Diluted Earnings Per Share $0.44 $0.31
COMMON SHARES
Basic Shares Outstanding 386.0M 387.0M
Diluted Shares Outstanding 398.0M 399.0M

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.264B $1.568B $1.202B
YoY Change 31.12% 109.07% 114.26%
Cash & Equivalents $1.059B $1.423B $892.0M
Short-Term Investments $205.0M $91.00M $310.0M
Other Short-Term Assets $122.0M $159.0M $150.0M
YoY Change 1.67% 98.75% 53.06%
Inventory $297.0M $246.0M $266.0M
Prepaid Expenses
Receivables $79.00M $81.00M $74.00M
Other Receivables $40.00M $0.00 $0.00
Total Short-Term Assets $1.802B $2.054B $1.692B
YoY Change 26.37% 77.37% 70.56%
LONG-TERM ASSETS
Property, Plant & Equipment $1.691B $1.652B $1.617B
YoY Change 2.67% -3.22% -7.18%
Goodwill $108.0M $107.0M $103.0M
YoY Change 36.71% 30.49%
Intangibles $101.0M $104.0M $105.0M
YoY Change 14.77% 8.33%
Long-Term Investments $95.00M $74.00M $51.00M
YoY Change 33.8% 15.63% 10.87%
Other Assets $385.0M $301.0M $287.0M
YoY Change 51.57% 38.71% -12.77%
Total Long-Term Assets $2.485B $2.406B $2.329B
YoY Change 8.0% 4.38% 1.22%
TOTAL ASSETS
Total Short-Term Assets $1.802B $2.054B $1.692B
Total Long-Term Assets $2.485B $2.406B $2.329B
Total Assets $4.287B $4.460B $4.021B
YoY Change 15.03% 28.79% 22.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $420.0M $575.0M $492.0M
YoY Change -12.5% 10.36% -0.61%
Accrued Expenses $389.0M $313.0M $271.0M
YoY Change 15.43% -0.95% 1.12%
Deferred Revenue $72.00M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.024B $1.212B $1.002B
YoY Change 1.99% 10.99% 3.51%
LONG-TERM LIABILITIES
Long-Term Debt $28.00M $28.00M $27.00M
YoY Change 0.0% -3.45% -12.9%
Other Long-Term Liabilities $388.0M $274.0M $260.0M
YoY Change 53.97% 18.1% 10.17%
Total Long-Term Liabilities $388.0M $274.0M $260.0M
YoY Change 53.97% 18.1% -2.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.024B $1.212B $1.002B
Total Long-Term Liabilities $388.0M $274.0M $260.0M
Total Liabilities $1.440B $1.514B $1.289B
YoY Change 12.15% 11.9% -0.31%
SHAREHOLDERS EQUITY
Retained Earnings $397.0M $533.0M $322.0M
YoY Change 892.5%
Common Stock $2.375B $2.373B $2.367B
YoY Change 0.81%
Preferred Stock
YoY Change
Treasury Stock (at cost) $148.0M $148.0M $59.00M
YoY Change 640.0%
Treasury Stock Shares
Shareholders Equity $2.765B $2.871B $2.669B
YoY Change
Total Liabilities & Shareholders Equity $4.287B $4.460B $4.021B
YoY Change 15.03% 28.79% 22.11%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income $176.0M $125.0M
YoY Change -8.33% 62.34%
Depreciation, Depletion And Amortization $144.0M $105.0M $96.00M
YoY Change 10.77% 3.96% -6.8%
Cash From Operating Activities -$103.0M $514.0M $116.0M
YoY Change -334.09% 28.5% 136.73%
INVESTING ACTIVITIES
Capital Expenditures -$153.0M -$85.00M -$103.0M
YoY Change -8.93% -11.46% 11.96%
Acquisitions
YoY Change
Other Investing Activities -$110.0M $223.0M -$156.0M
YoY Change 54.93% 185.9% -2700.0%
Cash From Investing Activities -$263.0M $138.0M -$259.0M
YoY Change 10.04% -866.67% 201.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -43.00M -99.00M -42.00M
YoY Change -112.65% -23.26% -66.4%
NET CHANGE
Cash From Operating Activities -103.0M 514.0M 116.0M
Cash From Investing Activities -263.0M 138.0M -259.0M
Cash From Financing Activities -43.00M -99.00M -42.00M
Net Change In Cash -409.0M 553.0M -185.0M
YoY Change -382.07% 118.58% 14.2%
FREE CASH FLOW
Cash From Operating Activities -$103.0M $514.0M $116.0M
Capital Expenditures -$153.0M -$85.00M -$103.0M
Free Cash Flow $50.00M $599.0M $219.0M
YoY Change -76.42% 20.77% 55.32%

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1440000000
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CY2017Q4 us-gaap Common Stock Shares Outstanding
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CY2018 us-gaap Nature Of Operations
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Note 1 &#8211; Description of Business</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Yum China Holdings, Inc. (&#8220;Yum China&#8221; and, together with its subsidiaries, the &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; and &#8220;our&#8221;) was incorporated in Delaware on April 1, 2016. The Company separated from Yum! Brands, Inc. (&#8220;YUM&#8221; or the &#8220;Parent&#8221;) on October 31, 2016 (the &#8220;separation&#8221;), becoming an independent publicly traded company as a result of a pro rata distribution (the &#8220;distribution&#8221;) of all outstanding shares of Yum China common stock to shareholders of YUM. On October 31, 2016, YUM&#8217;s shareholders of record as of 5:00 p.m. Eastern Time on October 19, 2016 received one share of Yum China common stock for every one share of YUM common stock held as of the record date. Yum China&#8217;s common stock began trading &#8220;regular way&#8221; under the ticker symbol &#8220;YUMC&#8221; on the New York Stock Exchange on November 1, 2016. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company owns, franchises or has ownership in entities that own and operate restaurants (also referred to as &#8220;stores&#8221;) under the KFC, Pizza Hut, Taco Bell, East Dawning, Little Sheep and COFFii &amp; JOY concepts (collectively, the &#8220;concepts&#8221;). In connection with the separation of the Company from YUM, Yum! Restaurants Asia Pte. Ltd., a wholly-owned indirect subsidiary of YUM, and Yum Restaurants Consulting (Shanghai) Company Limited (&#8220;YCCL&#8221;), a wholly-owned indirect subsidiary of the Company, entered into a 50-year master license agreement with automatic renewals for additional consecutive renewal terms of 50 years each, subject only to YCCL being in &#8220;good standing&#8221; and unless YCCL gives notice of its intent not to renew, 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, Taco Bell brands and their related marks and other intellectual property rights for restaurant services in the People&#8217;s Republic of China (the &#8220;PRC&#8221; or &#8220;China&#8221;), excluding Hong Kong, Taiwan and Macau. 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 East Dawning, Little Sheep and COFFii &amp; JOY and pay no license fee related to these concepts.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In 1987, KFC was the first quick-service restaurant brand to enter China. As of December 31, 2018, there are over 5,900 KFCs in China. We maintain a 58% and 70% controlling interest in the entities that own and operate the KFCs in Shanghai and Beijing, respectively. During the first quarter of 2018, the Company completed the acquisition of an additional 36% equity interest in an unconsolidated affiliate that operates KFC stores in Wuxi, China (&#8220;Wuxi KFC&#8221;), for cash consideration of approximately $98 million, increasing the Company&#8217;s equity interest to 83%, allowing the Company to consolidate the entity. The acquisition was considered immaterial. We began consolidating Wuxi KFC upon the completion of acquisition. We have a 47% noncontrolling ownership in each of our unconsolidated affiliates that own and operate KFCs in Hangzhou and Suzhou.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The first Pizza Hut in China opened in 1990. As of December 31, 2018, there are over 2,200 Pizza Hut restaurants in China.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In 2017, the Company completed the acquisition of a controlling interest in the holding company of DAOJIA.com.cn (&#8220;Daojia&#8221;), an established online food delivery service provider. The Company agreed to pay cash consideration of $36.7 million to the sellers and made a concurrent capital contribution of $25.0 million to Daojia. As of the completion of the acquisition, the Company held 90% of Daojia&#8217;s outstanding shares of common stock, or 80% of its equity interests on a fully-diluted basis.&nbsp;&nbsp;Daojia became an operating segment of the Company. The acquisition was considered immaterial. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">During the second quarter of 2017, Pizza Hut Casual Dining and Pizza Hut Home Service were combined and reported together as the Pizza Hut reportable segment. As a result, the Company has two reportable segments: KFC, which remains unchanged, and Pizza Hut. Our remaining operating segments, including the operations of East Dawning, Little Sheep, Taco Bell and Daojia, are combined and referred to as All Other Segments, as those operating segments are insignificant both individually and in the aggregate. As COFFii &amp; JOY is a concept recently developed in 2018, the financial results of COFFii &amp; JOY were not regularly reviewed by the Company&#8217;s chief operating decision maker, and COFFii &amp; JOY did not represent an operating segment. Segment financial information for prior years has been recast to align with this change in segment reporting. There was no impact to the consolidated and combined financial statements of the Company as a result of this change. Additional details on our reportable operating segments are included in Note 18.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:5pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:5pt;">&nbsp;</p>
CY2018 yumc Purchase Points Expiration Period
PurchasePointsExpirationPeriod
P18M
CY2018 us-gaap Fiscal Period
FiscalPeriod
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Fiscal Calendar.<font style="font-weight:normal;"> Our fiscal year ends on December 31. Effective at the beginning of fiscal 2018, the Company changed its fiscal calendar from two months in the first quarter, three months in the second and third quarters and four months in the fourth quarter, to four three-month quarters ending on March 31, June 30, September 30 and December 31 of each year. The change was made to align with how management now measures performance internally and to facilitate the comparability of our results with peers using calendar quarters. Unaudited quarterly results of all prior financial periods presented have been recast as if they had been reported under our new fiscal calendar (See Note 20).</font></p>
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DeferredRevenueRelatedToPrepaidStoredValueProducts
50000000
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DeferredRevenueRelatedToCustomerLoyaltyPrograms
17000000
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DeferredRevenueRelatedToCustomerLoyaltyPrograms
16000000
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-17000000
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LicenseFeePercentage
0.03
CY2018 yumc License Fees Paid
LicenseFeesPaid
263000000
CY2017 yumc License Fees Paid
LicenseFeesPaid
245000000
CY2018 yumc Prepaid Gift Cards Expiration Period
PrepaidGiftCardsExpirationPeriod
P36M
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ProductVouchersMaximumExpirationPeriod
P12M
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CY2018 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2016-04-01
CY2018 dei Entity Incorporation State Country Name
EntityIncorporationStateCountryName
Delaware
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ExpirationTermOfMasterLicenseAgreement
P50Y
CY2018 yumc Additional Consecutive Renewal Terms Of License Agreement
AdditionalConsecutiveRenewalTermsOfLicenseAgreement
P50Y
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PercentageOfLicenseFeesOnNetSales
0.03
CY2017Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
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FutureLeasePaymentsDueFromFranchiseesOnNominalBasis
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DeferredRevenueRelatedToPrepaidStoredValueProducts
73000000
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AdvertisingExpense
341000000
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AdvertisingExpense
333000000
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332000000
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4000000
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ResearchAndDevelopmentExpense
5000000
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ResearchAndDevelopmentExpense
5000000
CY2018 yumc Number Of Consecutive Terms Used As Primary Indicator Of Potential Impairment Of Restaurant Assets
NumberOfConsecutiveTermsUsedAsPrimaryIndicatorOfPotentialImpairmentOfRestaurantAssets
P2Y
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TaxCutsAndJobsActOf2017ChangeITaxRateAdjustmentsToProvisionalAmountsAsTaxExpense
36000000
CY2018 yumc Percentage Threshold That Positions Taken Or Expected To Be Taken Is More Likely Than Not Sustained Upon Examination
PercentageThresholdThatPositionsTakenOrExpectedToBeTakenIsMoreLikelyThanNotSustainedUponExamination
0.50
CY2018 yumc Period Within Date Of Corresponding Sales In Which Trade Receivables Are Classified As Accounts And Notes Receivable
PeriodWithinDateOfCorrespondingSalesInWhichTradeReceivablesAreClassifiedAsAccountsAndNotesReceivable
30 days
CY2018Q4 us-gaap Due From Affiliate Current
DueFromAffiliateCurrent
65000000
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69000000
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GoodwillWrittenOffRelatedToSaleOfBusinessUnitPeriodsFromAcquisition
P2Y
CY2018 yumc Fair Value Goodwill Written Off Related To Sale Of Business Unit Minimum Periods Refranchised
FairValueGoodwillWrittenOffRelatedToSaleOfBusinessUnitMinimumPeriodsRefranchised
P2Y
CY2018 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
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CapitalizedContractCostImpairmentLoss
0
CY2018Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
8000000
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DeferredRevenueRelatedToUpfrontFees
37000000
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DeferredRevenueRelatedToUpfrontFees
39000000
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ContractWithCustomerLiability
127000000
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ContractWithCustomerLiability
105000000
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ContractWithCustomerLiabilityRevenueRecognized
46000000
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ContractWithCustomerLiabilityRevenueRecognized
30000000
yumc Percentage Of Initial Fees And Continuing Fees To Sales
PercentageOfInitialFeesAndContinuingFeesToSales
0.03
yumc Initial Fees Paid To Parent
InitialFeesPaidToParent
9000000
yumc Initial Fees Paid By Franchise To Parent
InitialFeesPaidByFranchiseToParent
2000000
yumc Continuing Fees Paid To Parent
ContinuingFeesPaidToParent
163000000
yumc Continuing Fees Paid By Franchise To Parent
ContinuingFeesPaidByFranchiseToParent
42000000
yumc License Fees Paid
LicenseFeesPaid
216000000
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IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
9000000
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10000000
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IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000
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IncrementalCommonSharesAttributableToCallOptionsAndWarrants
2000000
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IncrementalCommonSharesAttributableToCallOptionsAndWarrants
1000000
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AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6000000
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AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10000000
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AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17000000
CY2017Q1 yumc Number Of Tranches Of Warrants
NumberOfTranchesOfWarrants
2
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PercentageOfLicenseFeesOnNetSales
0.03
CY2017 yumc Percentage Of License Fees On Net Sales
PercentageOfLicenseFeesOnNetSales
0.03
CY2016 yumc Reversal Of Previous Loss Recognized
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2000000
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17000000
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yumc Tax Cuts And Jobs Act Of2017 Change In Tax Rate Income Tax Expense Benefit
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163900000
yumc Tax Cuts And Jobs Act Of2017 Change In Tax Rate One Time Transition Tax From Deemed Repatriation Of Accumulated Undistributed Foreign Earnings
TaxCutsAndJobsActOf2017ChangeInTaxRateOneTimeTransitionTaxFromDeemedRepatriationOfAccumulatedUndistributedForeignEarnings
129800000
yumc Tax Cuts And Jobs Act Of2017 Change In Tax Rate Remeasurement Of Deferred Tax Assets
TaxCutsAndJobsActOf2017ChangeInTaxRateRemeasurementOfDeferredTaxAssets
4500000
yumc Tax Cuts And Jobs Act Of2017 Change In Tax Rate Deferred Tax Assets Valuation Allowance
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29600000
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36000000
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ForeignExchangeGainLossAndOtherIncomeExpense
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ForeignExchangeGainLossAndOtherIncomeExpense
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AccountsReceivableGrossCurrent
81000000
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AccountsReceivableGrossCurrent
81000000
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1000000
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2000000
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42000000
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41000000
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ReceivablesFromPaymentProcessorsAndAggregators
49000000
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20000000
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21000000
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3416000000
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1733000000
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1725000000
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414000000
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391000000
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385000000
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226000000
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176000000
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138000000
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LandUseRightNoncurrent
131000000
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64000000
CY2017Q4 yumc Long Term Deposits
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56000000
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47000000
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10000000
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5000000
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219000000
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96000000
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72000000
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32000000
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28000000
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115000000
CY2017Q4 us-gaap Other Liabilities Current
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104000000
CY2018Q4 yumc Deferred Escalating Minimum Rent
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144000000
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DeferredEscalatingMinimumRent
162000000
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33000000
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71000000
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65000000
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32000000
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44000000
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460000000
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49000000
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GoodwillGross
461000000
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GoodwillImpairedAccumulatedImpairmentLoss
382000000
CY2016Q4 us-gaap Goodwill
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79000000
CY2017 us-gaap Goodwill Acquired During Period
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23000000
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GoodwillForeignCurrencyTranslationGainLossAndOther
6000000
CY2017Q4 us-gaap Goodwill Gross
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490000000
CY2017Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
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382000000
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175000000
CY2018 yumc Goodwill Foreign Currency Translation Gain Loss And Other
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-17000000
CY2018Q4 us-gaap Goodwill Gross
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648000000
CY2018Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
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382000000
CY2018Q4 us-gaap Finite Lived Intangible Assets Gross
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195000000
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120000000
CY2018Q4 yumc Finite Lived Intangible Assets Accumulated Impairment Loss
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12000000
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63000000
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149000000
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104000000
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45000000
CY2018Q4 us-gaap Intangible Assets Gross Excluding Goodwill
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248000000
CY2017Q4 us-gaap Intangible Assets Gross Excluding Goodwill
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205000000
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26000000
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14000000
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12000000
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17000000
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
13000000
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FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
13000000
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
13000000
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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3000000
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2876000000
CY2018Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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418000000
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363758219
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363758219
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0.01
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0.08
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2
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2021-10-31
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364000000
CY2018Q4 us-gaap Number Of Restaurants
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6800
CY2018 yumc Maximum Duration Of Lease Commitments From Inception
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P20Y
CY2018 yumc Number Of Properties Lease Or Sublease Subject To Franchisees
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170
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due Current
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3000000
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3000000
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3000000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Four Years
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3000000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Five Years
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3000000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due Thereafter
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22000000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due
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37000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
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466000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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440000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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394000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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336000000
CY2017 us-gaap Operating Leases Income Statement Minimum Lease Revenue
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28000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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275000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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864000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
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2775000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable Current
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15000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
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13000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
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10000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
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8000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
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6000000
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7000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable
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59000000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
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27000000
CY2017Q4 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
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29000000
CY2018 us-gaap Operating Leases Rent Expense Minimum Rentals
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467000000
CY2017 us-gaap Operating Leases Rent Expense Minimum Rentals
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496000000
CY2016 us-gaap Operating Leases Rent Expense Minimum Rentals
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470000000
CY2018 us-gaap Operating Leases Rent Expense Contingent Rentals
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304000000
CY2017 us-gaap Operating Leases Rent Expense Contingent Rentals
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292000000
CY2016 us-gaap Operating Leases Rent Expense Contingent Rentals
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250000000
CY2018 us-gaap Lease And Rental Expense
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771000000
CY2017 us-gaap Lease And Rental Expense
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788000000
CY2016 us-gaap Lease And Rental Expense
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720000000
CY2018 us-gaap Operating Leases Income Statement Minimum Lease Revenue
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27000000
CY2016 us-gaap Operating Leases Income Statement Minimum Lease Revenue
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26000000
CY2018Q4 us-gaap Fair Value Equity Level1 To Level2 Transfers Amount
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0
CY2018Q4 us-gaap Fair Value Equity Level2 To Level1 Transfers Amount
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0
CY2018 yumc Defined Contribution Plan Employers Matching Contribution Vesting Percentage
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0.30
CY2018 us-gaap Deferred Compensation Arrangement With Individual Requisite Service Period1
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P3Y
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0.10
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Rights
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Certain awards are subject to specific retirement conditions, which allow the awards to fully vest as long as the employee is actively employed for at least one year following the grant date, provides at least six months notification of intention to retire, and signs non-solicitation and non-compete agreements. Under such circumstances, the grant-date fair value of the award is recognized as expense on a straight-line basis over the one-year service period from the grant date.
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0.025
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0.019
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P6Y6M
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P6Y9M
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.330
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.340
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.010
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.000
CY2017Q4 us-gaap Dividends Payable Date Declared Day Month And Year
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2017-10-04
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0.10
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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669433
CY2018Q4 yumc Share Based Compensation Arrangement By Share Based Payment Award Stock Appreciation Rights Outstanding Number
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17000656
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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16.35
CY2018Q4 yumc Share Based Compensation Arrangement By Share Based Payment Award Stock Appreciation Rights Outstanding Weighted Average Exercise Price
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21.37
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24000000
CY2017 us-gaap Allocated Share Based Compensation Expense
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26000000
CY2016 us-gaap Allocated Share Based Compensation Expense
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16000000
CY2018 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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1000000
CY2017 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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3000000
CY2016 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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3000000
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1.00
CY2016Q4 us-gaap Common Stock Shares Authorized
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1000000000
CY2018 us-gaap Treasury Stock Shares Acquired
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9000000
CY2017 us-gaap Treasury Stock Shares Acquired
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3400000
CY2018 us-gaap Treasury Stock Value Acquired Cost Method
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312000000
CY2017 us-gaap Treasury Stock Value Acquired Cost Method
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128000000
yumc Tax Cuts And Jobs Act Of2017 Change In Tax Rate Estimated Remeasurement Of Deferred Tax Assets
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4500000
yumc Tax Cuts And Jobs Act Of2017 Change In Tax Rate Estimated Deferred Tax Assets Valuation Allowance
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29600000
CY2017Q4 yumc Tax Cuts And Jobs Act Of2017 One Time Transition Tax Payable
TaxCutsAndJobsActOf2017OneTimeTransitionTaxPayable
83000000
CY2017Q4 yumc Tax Cuts And Jobs Act Of2017 Income Taxes Payable Included In One Time Transition Tax Expense
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6600000
CY2017Q4 yumc Tax Cuts And Jobs Act Of2017 Other Liabilities Included In One Time Transition Tax Expense
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76400000
CY2018 us-gaap Tax Adjustments Settlements And Unusual Provisions
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36000000
CY2017 yumc Income Loss From Continuing Operations Before Income Taxes Other Foreign
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10000000
CY2016 yumc Income Loss From Continuing Operations Before Income Taxes Other Foreign
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6000000
CY2018Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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960000000
CY2017 us-gaap Dividends Cash
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38000000
CY2018 us-gaap Dividends Cash
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161000000
CY2017Q4 us-gaap Dividends Payable Date Declared Month And Year
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2017-12
CY2018Q1 us-gaap Common Stock Dividends Per Share Cash Paid
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0.1
CY2018Q2 us-gaap Common Stock Dividends Per Share Cash Paid
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0.1
CY2018Q3 us-gaap Common Stock Dividends Per Share Cash Paid
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0.10
CY2018Q4 us-gaap Common Stock Dividends Per Share Cash Paid
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0.12
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-160000000
CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax
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142000000
CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax
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-133000000
CY2018 us-gaap Other Comprehensive Income Loss Tax
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0
CY2017 us-gaap Other Comprehensive Income Loss Tax
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0
CY2016 us-gaap Other Comprehensive Income Loss Tax
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0
CY2018Q4 yumc Percentage Of Annual After Tax Profit Required To Be Allocated To General Reserve
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0.10
CY2018Q4 yumc Maximum Percentage Of Annual After Tax Profit To Be Allocated To General Reserve Based On Registered Capital
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0.50
CY2018Q4 us-gaap Amount Of Restricted Net Assets For Consolidated And Unconsolidated Subsidiaries
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624000000
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21
yumc Tax Cuts And Jobs Acts Of2017 Change In Tax Rate Estimated Expense Benefit For One Time Transition Tax From Deemed Repatriation Of Accumulated Undistributed Foreign Earnings
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129800000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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-3000000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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-13000000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
5000000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
979000000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
806000000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
655000000
CY2018 yumc Income Loss From Continuing Operations Before Income Taxes Other Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesOtherForeign
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CY2017 us-gaap Current Federal Tax Expense Benefit
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85000000
CY2016 us-gaap Current Federal Tax Expense Benefit
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CY2018 us-gaap Current Foreign Tax Expense Benefit
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214000000
CY2017 us-gaap Current Foreign Tax Expense Benefit
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232000000
CY2016 us-gaap Current Foreign Tax Expense Benefit
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200000000
CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
181000000
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
317000000
CY2016 us-gaap Current Income Tax Expense Benefit
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198000000
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
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77000000
CY2016 us-gaap Deferred Federal Income Tax Expense Benefit
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-36000000
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33000000
CY2017 us-gaap Deferred Foreign Income Tax Expense Benefit
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-15000000
CY2016 us-gaap Deferred Foreign Income Tax Expense Benefit
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-6000000
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
199000000
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
281000000
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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233000000
CY2018 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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-36000000
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
164000000
CY2018 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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56000000
CY2017 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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-60000000
CY2018Q4 yumc Deferred Tax Asset Deferred Income And Other
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50000000
CY2017Q4 yumc Net Operating Loss And Tax Credit Carryforwards
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43000000
CY2016 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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-55000000
CY2018 yumc Income Tax Reconciliation Adjustments To Reserves And Prior Years
IncomeTaxReconciliationAdjustmentsToReservesAndPriorYears
-4000000
CY2017 yumc Income Tax Reconciliation Adjustments To Reserves And Prior Years
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-1000000
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12000000
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
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10000000
CY2016 yumc Income Tax Reconciliation Adjustments To Reserves And Prior Years
IncomeTaxReconciliationAdjustmentsToReservesAndPriorYears
16000000
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-4000000
CY2017 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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2000000
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3000000
CY2017 us-gaap Income Tax Reconciliation Other Adjustments
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CY2016 us-gaap Income Tax Reconciliation Other Adjustments
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CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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-0.038
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.204
CY2018 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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0.058
CY2017 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.075
CY2016 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.083
CY2018 yumc Effective Income Tax Rate Reconciliation Adjustments To Reserves And Prior Years
EffectiveIncomeTaxRateReconciliationAdjustmentsToReservesAndPriorYears
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CY2017 yumc Effective Income Tax Rate Reconciliation Adjustments To Reserves And Prior Years
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-0.002
CY2016 yumc Effective Income Tax Rate Reconciliation Adjustments To Reserves And Prior Years
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0.024
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.004
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.002
CY2018 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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0.004
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2018 us-gaap Effective Income Tax Rate Continuing Operations
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0.226
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
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0.472
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
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0.235
CY2018 yumc Tax Cuts And Jobs Act Of2017 Change In Tax Rate Estimated Deferred Tax Assets Valuation Allowance
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29600000
CY2018Q4 yumc Net Operating Loss And Tax Credit Carryforwards
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28000000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Benefits
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6000000
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Benefits
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5000000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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5000000
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6000000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Deferred Rent
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41000000
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Deferred Rent
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45000000
CY2017Q4 yumc Deferred Tax Asset Deferred Income And Other
DeferredTaxAssetDeferredIncomeAndOther
49000000
CY2018Q4 us-gaap Deferred Tax Assets Gross
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160000000
CY2017Q4 us-gaap Deferred Tax Assets Gross
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178000000
CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
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50000000
CY2017Q4 us-gaap Deferred Tax Assets Valuation Allowance
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68000000
CY2018Q4 us-gaap Deferred Tax Assets Net
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110000000
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CY2017Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
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CY2018Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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CY2017Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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CY2018Q4 yumc Deferred Tax Liabilities Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain
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CY2018Q4 us-gaap Deferred Tax Assets Liabilities Net
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CY2018Q4 us-gaap Deferred Tax Liability Not Recognized Amount Of Unrecognized Deferred Tax Liability Undistributed Earnings Of Foreign Subsidiaries
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CY2017Q4 us-gaap Unrecognized Tax Benefits
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CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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CY2018 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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CY2018Q4 us-gaap Unrecognized Tax Benefits
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CY2016Q4 us-gaap Unrecognized Tax Benefits
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CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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CY2018Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
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CY2017Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
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CY2018 yumc Unallocated Other Revenues
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CY2018 yumc Unallocated Other Operating Costs And Expenses
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CY2017 yumc Unallocated And Corporate G And A Expenses
UnallocatedAndCorporateGAndAExpenses
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CY2016 yumc Unallocated And Corporate G And A Expenses
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CY2018 yumc Unallocated Closures And Impairment Expense
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CY2018 yumc Unallocated Other Income Expense
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CY2018 us-gaap Asset Impairment Charges
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CY2018Q4 yumc Guarantees Outstanding Of Unconsolidated Affiliates
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CY2018Q4 yumc Indemnifications Obligations To Officers And Directors
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CY2017 yumc Restaurant Profit
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CY2017Q1 us-gaap Earnings Per Share Basic
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