$YUMC
Yum China Holdings Inc

2020 Q3 Form 10-Q Financial Statement

#000156459020051640 Filed on November 06, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q4 2019 Q3
Revenue $2.348B $2.029B $2.319B
YoY Change 1.25% 6.01% 4.84%
Cost Of Revenue $1.282B $1.176B $1.273B
YoY Change 0.71% 5.95% 6.44%
Gross Profit $1.066B $853.0M $1.046B
YoY Change 1.91% 6.09% 2.95%
Gross Profit Margin 45.4% 42.04% 45.11%
Selling, General & Admin $733.0M $716.0M $736.0M
YoY Change -0.41% 6.07% 0.27%
% of Gross Profit 68.76% 83.94% 70.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $113.0M $106.0M $105.0M
YoY Change 7.62% 3.92% -2.78%
% of Gross Profit 10.6% 12.43% 10.04%
Operating Expenses $765.0M $749.0M $764.0M
YoY Change 0.13% 6.54% 0.79%
Operating Profit $556.0M $94.00M $300.0M
YoY Change 85.33% 11.9% 11.52%
Interest Expense $66.00M $46.00M $39.00M
YoY Change 69.23% -560.0% 95.0%
% of Operating Profit 11.87% 48.94% 13.0%
Other Income/Expense, Net $0.00
YoY Change
Pretax Income $605.0M $128.0M $322.0M
YoY Change 87.89% 96.92% 15.41%
Income Tax $155.0M $34.00M $87.00M
% Of Pretax Income 25.62% 26.56% 27.02%
Net Earnings $439.0M $90.00M $223.0M
YoY Change 96.86% 21.62% 9.85%
Net Earnings / Revenue 18.7% 4.44% 9.62%
Basic Earnings Per Share $1.13 $0.24 $0.59
Diluted Earnings Per Share $1.10 $0.23 $0.58
COMMON SHARES
Basic Shares Outstanding 387.0M 377.0M
Diluted Shares Outstanding 400.0M 388.0M

Balance Sheet

Concept 2020 Q3 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.206B $1.657B $1.719B
YoY Change 144.68% 19.38% 12.21%
Cash & Equivalents $1.782B $1.046B $1.355B
Short-Term Investments $2.424B $611.0M $364.0M
Other Short-Term Assets $162.0M $93.00M $109.0M
YoY Change 48.62% -27.34% -29.22%
Inventory $346.0M $380.0M $317.0M
Prepaid Expenses
Receivables $86.00M $88.00M $79.00M
Other Receivables $0.00 $41.00M $32.00M
Total Short-Term Assets $4.800B $2.259B $2.256B
YoY Change 112.77% 15.73% 10.26%
LONG-TERM ASSETS
Property, Plant & Equipment $1.642B $1.594B $1.506B
YoY Change 9.03% -1.3% -6.17%
Goodwill $800.0M $254.0M $256.0M
YoY Change 212.5% -4.51% -3.76%
Intangibles $246.0M $94.00M $97.00M
YoY Change 153.61% -18.97% -27.07%
Long-Term Investments $71.00M $89.00M $74.00M
YoY Change -4.05% 9.88% 8.82%
Other Assets $691.0M $580.0M $539.0M
YoY Change 28.2% 18.13% 8.23%
Total Long-Term Assets $5.586B $4.691B $4.454B
YoY Change 25.42% 76.49% 68.39%
TOTAL ASSETS
Total Short-Term Assets $4.800B $2.259B $2.256B
Total Long-Term Assets $5.586B $4.691B $4.454B
Total Assets $10.39B $6.950B $6.710B
YoY Change 54.78% 50.76% 43.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $634.0M $623.0M $563.0M
YoY Change 12.61% 0.65% 2.18%
Accrued Expenses $925.0M $819.0M $765.0M
YoY Change 20.92% 121.95% 103.46%
Deferred Revenue $147.0M $135.0M $110.0M
YoY Change 33.64% 40.63% 48.65%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.000M $2.000M $1.000M
YoY Change 100.0%
Total Short-Term Liabilities $2.007B $1.736B $1.648B
YoY Change 21.78% 38.55% 38.26%
LONG-TERM LIABILITIES
Long-Term Debt $25.00M $26.00M $23.00M
YoY Change 8.7% 4.0% -11.54%
Other Long-Term Liabilities $350.0M $210.0M $195.0M
YoY Change 79.49% -40.85% -49.35%
Total Long-Term Liabilities $350.0M $210.0M $195.0M
YoY Change 79.49% -40.85% -49.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.007B $1.736B $1.648B
Total Long-Term Liabilities $350.0M $210.0M $195.0M
Total Liabilities $4.179B $3.775B $3.595B
YoY Change 16.24% 131.17% 124.27%
SHAREHOLDERS EQUITY
Retained Earnings $2.004B $1.416B
YoY Change 50.0%
Common Stock $4.647B $2.427B
YoY Change 1.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.962B $3.077B $3.025B
YoY Change
Total Liabilities & Shareholders Equity $10.39B $6.950B $6.710B
YoY Change 54.78% 50.76% 43.04%

Cashflow Statement

Concept 2020 Q3 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income $439.0M $90.00M $223.0M
YoY Change 96.86% 21.62% 9.85%
Depreciation, Depletion And Amortization $113.0M $106.0M $105.0M
YoY Change 7.62% 3.92% -2.78%
Cash From Operating Activities $447.0M $140.0M $388.0M
YoY Change 15.21% -12.5% 9.6%
INVESTING ACTIVITIES
Capital Expenditures -$99.00M -$125.0M -$98.00M
YoY Change 1.02% 12.61% -24.03%
Acquisitions
YoY Change
Other Investing Activities -$1.473B -$232.0M -$87.00M
YoY Change 1593.1% -369.77% -1187.5%
Cash From Investing Activities -$1.572B -$357.0M -$185.0M
YoY Change 749.73% 1328.0% 52.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.203B -112.0M -109.0M
YoY Change -2121.1% -44.0% -17.42%
NET CHANGE
Cash From Operating Activities 447.0M 140.0M 388.0M
Cash From Investing Activities -1.572B -357.0M -185.0M
Cash From Financing Activities 2.203B -112.0M -109.0M
Net Change In Cash 1.078B -329.0M 94.00M
YoY Change 1046.81% 406.15% -6.93%
FREE CASH FLOW
Cash From Operating Activities $447.0M $140.0M $388.0M
Capital Expenditures -$99.00M -$125.0M -$98.00M
Free Cash Flow $546.0M $265.0M $486.0M
YoY Change 12.35% -2.21% 0.62%

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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 – 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;"> </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. (“Yum China” and, together with its subsidiaries, the “Company,” “we,” “us” and “our”) was incorporated in Delaware on April 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;"> </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 “stores” or “units”) under the KFC, Pizza Hut, Little Sheep, Huang Ji Huang, COFFii &amp; JOY, East Dawning, Taco Bell and Lavazza concepts (collectively, the “concepts”). In connection with the separation of the Company in 2016 from its former parent company, YUM! Brands, Inc. (“YUM”), Yum! Restaurants Asia Pte. Ltd., a wholly-owned indirect subsidiary of YUM, and Yum Restaurants Consulting (Shanghai) Company Limited (“YCCL”), 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 “good standing” 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’s Republic of China (the “PRC” or “China”), excluding Hong Kong, Macau and Taiwan. 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, Huang Ji Huang, COFFii &amp; JOY and East Dawning, 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;"> </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 also owns a controlling interest in the holding company of DAOJIA.com.cn (“Daojia”), an established online food delivery service provider 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;"> </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 addition, the Company started an e-commerce business in 2017, offering a wide selection of products including electronics, home and kitchen accessories, fresh groceries, and other general merchandise to customers directly through the Company’s e-commerce platform.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </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;">On April 8, 2020, the Company completed the acquisition of a 93.3% interest in the Huang Ji Huang group (“Huang Ji Huang”), a leading Chinese-style casual dining franchise business, for cash consideration of $185 million. Huang Ji Huang became an operating segment of the Company. The acquisition was considered immaterial.<span style="color:#212529;"> Following the acquisition, we established a Chinese dining business unit comprising our three Chinese dining brands, namely Little Sheep, Huang Ji Huang and East Dawning.</span></p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </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 the quarter ended June 30, 2020, the Company partnered with Lavazza Group, the world renowned family-owned Italian coffee company, and entered into a joint venture to explore and develop the Lavazza coffee shop concept 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;"> </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#212529;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On August 3, 2020, the Company completed the acquisition of an additional 25% equity interest in an unconsolidated affiliate that operates KFC stores in and around Suzhou, China (“Suzhou KFC”), for cash consideration of $149 million. <span style="color:#000000;">Upon closing of the acquisition, the Company increased its equity interest to 72%, allowing the Company to consolidate Suzhou KFC. </span>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;"> </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 has two reportable segments: KFC and Pizza Hut. Our remaining operating segments, including the operations of Little Sheep, Huang Ji Huang, COFFii &amp; JOY, East Dawning, Taco Bell, Lavazza, Daojia 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. <span style="color:#000000;">Additional details on our reportable operating segments are included in Note 13.</span></p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 at the public offering price of HK$412.00 per share, or US$53.16 per share. The shares listed on the HKEX are fully fungible with the shares listed on the NYSE. The underwriters of the global offering were granted an over-allotment option to purchase up to an additional 6,286,600 shares of common stock at the public offering price, which lapsed on October 4, 2020. Net proceeds raised by the Company from the global offering after deducting underwriting fees and the offering expenses amounted to US$2.2 billion.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p>
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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 2 – Basis of Presentation</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </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;">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.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </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;">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, 2020, results of our operations and comprehensive income for the quarters and years to date ended September 30, 2020 and 2019, and cash flows for the years to date ended September 30, 2020 and 2019. 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 defined and included in the Company’s Annual Report on Form 10-K as filed with the SEC on February 27, 2020.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </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;">Through the acquisition of Daojia, the Company also acquired a variable interest entity (“VIE”) and subsidiaries of the VIE effectively controlled by Daojia. <span style="color:#000000;">There exists a parent-subsidiary relationship between Daojia and its VIE as a result of certain </span>exclusive<span style="color:#000000;"> 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. </span>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.</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;"> </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 results of Huang Ji Huang’s operations have been included in the Company’s Condensed Consolidated Financial Statements since its acquisition date of April 8, 2020.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </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;">We began consolidating Suzhou KFC upon the completion of its acquisition on August 3, 2020.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </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;"><span style="text-decoration:underline;">Recently Adopted Accounting Pronouncements</span></p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </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 June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, <span style="font-style:italic;">Financial Instruments – Credit Losses (Topic 326):</span> <span style="font-style:italic;">Measurement of Credit Losses on Financial Instruments </span>(“ASU 2016-13”), which requires measurement and recognition of expected versus incurred credit losses for financial assets held. The FASB subsequently issued amendments to clarify the implementation guidance. We adopted these standards on January 1, 2020 using the modified retrospective method. The adoption of this standard resulted in a change of our provision policy primarily for accounts receivable, but such adoption did not have a material impact on our financial statements. See Note 3 for additional information related to our accounts receivable provision policy. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </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 August 2018, the FASB issued ASU 2018-13, <span style="font-style:italic;">Fair Value Measurement (Topic 820): Disclosure Framework –changes to the Disclosure Requirements for Fair Value Measurement</span> (“ASU 2018-13”), which amends the fair value measurement guidance by modifying disclosure requirements. We adopted the standard on January 1, 2020, and such adoption did not have a material impact on our financial statements.  See Note 11 for additional disclosure on fair value measurement.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </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 August 2018, the FASB issued ASU 2018-15, <span style="font-style:italic;">Intangibles – Goodwill and Other-Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract</span> (“ASU 2018-15”), which aligns the requirements for capitalizing implementation costs in a cloud computing arrangement service contract with those for an internal-use software license. We adopted this standard on January 1, 2020, and such adoption did not have a material impact on our financial statements.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#212529;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In November 2018, the FASB issued ASU 2018-18, <span style="font-style:italic;">Collaborative Arrangements (Topic 808), Clarifying the Interaction between Topic 808 and Topic 606  </span>(“ASU 2018-18”), which clarifies that transactions in a collaborative arrangement should be accounted for under ASU 2014-09, <span style="font-style:italic;">Revenue from Contracts with Customers (Topic 606)</span> (“ASC 606”) when the counterparty is a customer for a distinct good or service. The amendment also precludes an entity from presenting consideration from a transaction in a collaborative arrangement as revenue if the counterparty is not a customer for that transaction. We adopted the standard on January 1, 2020, and such adoption did not have a material impact on our financial statements.<span style="color:#000000;"> </span>      </p>
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CY2020Q3 yumc Operating And Finance Lease Liability Payments Due Year Four
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us-gaap Operating Income Loss
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CY2020Q3 yumc Operating And Finance Lease Liability Payments Due After Year Four
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CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
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CY2020Q3 us-gaap Finance Lease Liability Payments Due
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CY2020Q3 yumc Operating And Finance Lease Liability Payments Due
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CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2020Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
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CY2020Q3 yumc Operating And Finance Lease Liability Undiscounted Excess Amount
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CY2020Q3 us-gaap Operating Lease Liability
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CY2020Q3 us-gaap Finance Lease Liability
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CY2020Q3 yumc Operating And Finance Lease Liability
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CY2020Q3 yumc Additional Lease Signed But Not Commenced With Total Undiscounted Minimum Lease Payments
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154000000
CY2019Q3 us-gaap Fair Value Equity Level1 To Level2 Transfers Amount
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0
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0
CY2019Q3 us-gaap Fair Value Equity Level2 To Level1 Transfers Amount
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0
CY2020Q3 us-gaap Income Tax Expense Benefit
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155000000
CY2019Q3 us-gaap Income Tax Expense Benefit
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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CY2019Q1 us-gaap Tax Cuts And Jobs Act Of2017 Change In Tax Rate Income Tax Expense Benefit
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2
CY2020Q3 us-gaap Revenues
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CY2020Q3 us-gaap Gain Loss On Investments
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us-gaap Asset Impairment Charges
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CY2020Q3 us-gaap Assets
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us-gaap Gain Loss On Investments
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75000000
us-gaap Gain Loss On Investments
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39000000
CY2019Q4 us-gaap Assets
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CY2020Q3 us-gaap Income Loss From Equity Method Investments
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CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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605000000
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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322000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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884000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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875000000
CY2020Q3 us-gaap Asset Impairment Charges
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CY2019Q3 us-gaap Asset Impairment Charges
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us-gaap Asset Impairment Charges
AssetImpairmentCharges
39000000
CY2019Q3 us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
51000000
us-gaap Income Loss From Equity Method Investments
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CY2015Q1 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies Foreign
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0.10
CY2015Q1 yumc Percentage Of Tax Assessed On Difference Between Fair Market Value And Tax Basis
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0.10
CY2020Q3 yumc Guarantees Outstanding Of Unconsolidated Affiliates
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0

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