Yum China (YUMC) 10-Q 8 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	May 03, 2024
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	2024
Document Fiscal Period Focus	Q1
Document Type	10-Q
Trading Symbol	YUMC
Amendment Flag	false
Entity Small Business	false
Entity Emerging Growth Company	false
Document Period End Date	Mar. 31, 2024
Entity Common Stock Shares Outstanding		389,901,700
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

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Revenues
Total revenues		$ 2,958	$ 2,917
Costs and Expenses, Net
General and administrative expenses		140	163
Other operating costs and expenses		29	24
Closures and impairment expenses, net		1	3
Other (income) expenses, net		(1)	1
Total costs and expenses, net		2,584	2,501
Operating Profit		374	416
Interest income, net	[1]	38	38
Investment gain (loss)	[1]	8	(17)
Income Before Income Taxes and Equity in Net Earnings (Losses) from Equity Method Investments		420	437
Income tax provision		(113)	(125)
Equity in net earnings (losses) from equity method investments			1
Net income – including noncontrolling interests		307	313
Net income – noncontrolling interests		20	24
Net Income – Yum China Holdings, Inc.		$ 287	$ 289
Weighted-average common shares outstanding (in millions):
Basic	[2]	401	418
Diluted	[2]	403	423
Basic Earnings Per Common Share		$ 0.72	$ 0.69
Diluted Earnings Per Common Share		$ 0.71	$ 0.68
Company Sales [Member]
Revenues
Revenues		$ 2,794	$ 2,772
Franchise [Member]
Revenues
Revenues		25	25
Costs and Expenses, Net
Cost of goods and services sold		10	10
Transactions With Franchisees [Member]
Revenues
Revenues		107	93
Costs and Expenses, Net
Cost of goods and services sold		104	91
Other Revenues [Member]
Revenues
Revenues		32	27
Company Restaurant Expenses [Member]
Costs and Expenses, Net
Food and paper		896	835
Payroll and employee benefits		708	683
Occupancy and other operating expenses		697	691
Cost of goods and services sold		$ 2,301	$ 2,209
[1] Amounts have not been allocated to any segment for performance reporting purposes. 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.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income - including noncontrolling interests	$ 307	$ 313
Other comprehensive (loss) income, net of tax of nil:
Foreign currency translation adjustments	(81)	14
Comprehensive income - including noncontrolling interests	226	327
Comprehensive income - noncontrolling interests	10	26
Comprehensive Income - Yum China Holdings, Inc.	$ 216	$ 301

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Cash Flows – Operating Activities
Net income - including noncontrolling interests		$ 307	$ 313
Depreciation and amortization		117	116
Non-cash operating lease cost		101	102
Closures and impairment expenses		1	3
Investment (gain) loss	[1]	(8)	17
Equity in net (earnings) losses from equity method investments			(1)
Distributions of income received from equity method investments		2	4
Deferred income taxes			7
Share-based compensation expense		10	13
Changes in accounts receivable		(3)	5
Changes in inventories		74	40
Changes in prepaid expenses, other current assets and value-added tax assets		(8)	12
Changes in accounts payable and other current liabilities		(136)	(93)
Changes in income taxes payable		73	75
Changes in non-current operating lease liabilities		(100)	(94)
Other, net		12	(12)
Net Cash Provided by Operating Activities		442	507
Cash Flows – Investing Activities
Capital spending		(189)	(179)
Purchases of short-term investments, long-term bank deposits and notes		(268)	(1,378)
Maturities of short-term investments, long-term bank deposits and notes		555	1,126
Other, net		1	2
Net Cash Provided by (Used in) Investing Activities		99	(429)
Cash Flows – Financing Activities
Repurchase of shares of common stock		(679)	(60)
Cash dividends paid on common stock		(64)	(54)
Dividends paid to noncontrolling interests		(16)	(15)
Contributions from noncontrolling interests			35
Other, net		(17)	(5)
Net Cash Used in Financing Activities		(776)	(99)
Effect of Exchange Rates on Cash, Cash Equivalents and Restricted Cash		(10)	2
Net Decrease in Cash, Cash Equivalents and Restricted Cash		(245)	(19)
Cash, Cash Equivalents, and Restricted Cash - Beginning of Period		1,128	1,130
Cash, Cash Equivalents, and Restricted Cash - End of Period		883	1,111
Supplemental Cash Flow Data
Cash paid for income tax		38	39
Non-cash Investing and Financing Activities
Capital expenditures included in accounts payable and other current liabilities		$ 173	$ 139
[1] Amounts have not been allocated to any segment for performance reporting purposes.

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 883	$ 1,128
Short-term investments	1,512	1,472
Accounts receivable, net	74	68
Inventories, net	345	424
Prepaid expenses and other current assets	341	339
Total Current Assets	3,155	3,431
Property, plant and equipment, net	2,292	2,310
Operating lease right-of-use assets	2,167	2,217
Goodwill	1,900	1,932
Intangible assets, net	147	150
Long-term bank deposits and notes	907	1,265
Equity investments	335	332
Deferred income tax assets	129	129
Other assets	263	265
Total Assets	11,295	12,031
Current Liabilities
Accounts payable and other current liabilities	1,936	2,164
Short-term borrowings	165	168
Income taxes payable	162	90
Total Current Liabilities	2,263	2,422
Non-current operating lease liabilities	1,847	1,899
Non-current finance lease liabilities	44	44
Deferred income tax liabilities	387	390
Other liabilities	166	157
Total Liabilities	4,707	4,912
Redeemable Noncontrolling Interest	13	13
Equity
Common stock, $0.01 par value; 1,000 million shares authorized; 394 million shares and 407 million shares issued at March 31, 2024 and December 31, 2023, respectively; 392 million shares and 407 million shares outstanding at March 31, 2024 and December 31, 2023, respectively.	4	4
Treasury stock	(76)
Additional paid-in capital	4,159	4,320
Retained earnings	2,078	2,310
Accumulated other comprehensive loss	(300)	(229)
Total Yum China Holdings, Inc. Stockholders' Equity	5,865	6,405
Noncontrolling interests	710	701
Total Equity	6,575	7,106
Total Liabilities, Redeemable Noncontrolling Interest and Equity	$ 11,295	$ 12,031

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	394,000,000	407,000,000
Common stock, shares outstanding	392,000,000	407,000,000

Condensed Consolidated Statem_4

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, 2022	$ 7,148	$ 4	$ 4,390	$ 2,191	$ (103)		$ 666	$ 12
Balance (in shares) at Dec. 31, 2022		419
Net Income	313			289			24
Foreign currency translation adjustments	14				12		2
Comprehensive income - including noncontrolling interests	327
Cash dividends declared	(54)			(54)
Distributions to/contributions from noncontrolling interests	34						34
Repurchase and retirement of shares	(62)		(10)	(52)
Repurchase and retirement of shares (shares)		(1)
Exercise and vesting of share-based awards	(2)		(2)
Exercise and vesting of share-based awards (in shares)		1
Share-based compensation	13		13
Balance at Mar. 31, 2023	7,404	$ 4	4,391	2,374	(91)		726	12
Balance (in shares) at Mar. 31, 2023		418
Balance at Dec. 31, 2023	7,106	$ 4	4,320	2,310	(229)		701	13
Balance (in shares) at Dec. 31, 2023		407
Net Income	307			287			20
Foreign currency translation adjustments	(81)				(71)		(10)
Comprehensive income - including noncontrolling interests	226
Cash dividends declared	(64)			(64)
Distributions to/contributions from noncontrolling interests	(1)						(1)
Repurchase and retirement of shares	(687)		(156)	(455)		$ (76)
Repurchase and retirement of shares (shares)		(15)				(2)
Exercise and vesting of share-based awards	(15)		(15)
Exercise and vesting of share-based awards (in shares)		1
Share-based compensation	10		10
Balance at Mar. 31, 2024	$ 6,575	$ 4	$ 4,159	$ 2,078	$ (300)	$ (76)	$ 710	$ 13
Balance (in shares) at Mar. 31, 2024		394				(2)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Cash dividends declared, per common share	$ 0.16	$ 0.13

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 287	$ 289

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non-Rule 10b5-1 Arrangement Modified	false

Description of Business

Description of Business	3 Months Ended
	Mar. 31, 2024
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, Lavazza, Huang Ji Huang, Little Sheep and Taco Bell 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, 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 Huang Ji Huang and Little Sheep and pay no license fee related to these concepts. In 1987, KFC was the first major global restaurant brand to enter China. As of March 31, 2024, there were 10,603 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 March 31, 2024, there were 3,425 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 established a joint venture (“Lavazza joint venture”), to explore and develop the Lavazza coffee concept in China. Lavazza joint venture operates both the coffee shop business and the retail business. We maintain a controlling interest of 65 % equity interest in the Lavazza joint venture. 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 non-reportable operating segments, including the operations of Lavazza, Huang Ji Huang, Little Sheep and Taco Bell, our delivery operating segment and our e-commerce business, are combined and referred to as All Other Segments, as these operating segments are insignificant both individually and in the aggregate. Additional details on our segment reporting are included in Note 13. 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.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2024
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 March 31, 2024, and our results of operations, comprehensive income, statements of equity and cash flows for the quarters ended March 31, 2024 and 2023. 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 February 29, 2024. 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. Recently Adopted Accounting Pronouncements In March 2023, the FASB issued ASU 2023-01, Leases (Topic 842) — Common Control Arrangements (“ASU 2023-01”). It requires all lessees, including public business entities, to amortize leasehold improvements associated with common control leases over their useful life to the common control group and account for them as a transfer of assets between entities under common control through an adjustment to equity when the lessee no longer controls the use of the underlying asset. ASU 2023-01 is effective for the Company from January 1, 2024, with early adoption permitted. We adopted this standard on January 1, 2024, and such adoption did not have a material impact on our financial statements.

Business Acquisitions and Equit

Business Acquisitions and Equity Investments	3 Months Ended
	Mar. 31, 2024
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. In addition to its equity interest in Hangzhou KFC, Hangzhou Catering operates approximately 7 0 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 recorded 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 earnings (losses) from Hangzhou Catering, net of taxes, were immaterial for both the quarters ended March 31, 2024 and 2023, and included in Equity in net earnings (losses) from equity method investments in our Condensed Consolidated Statement of Income. As of March 31, 2024 and December 31, 2023, the carrying amount of the Company’s equity method investment in Hangzhou Catering was $ 41 million and $ 41 million, respectively, exceeding the Company’s interest in Hangzhou Catering’s underlying net assets by $ 23 million and $ 24 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 . The purchase amount from Hangzhou Catering was immaterial for both quarters ended March 31, 2024 and 2023. The Company’s accounts payable and other current liabilities due to Hangzhou Catering were immaterial as of both March 31, 2024 and December 31, 2023. 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. Sunner is China’s largest white-feathered chicken producer and the Company’s largest poultry supplier. 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 ended March 31, 2024 and 2023, the Company's equity income (losses) from Sunner, net of taxes, was immaterial and was included in Equity in net earnings (losses) from equity method investments in our Condensed Consolidated Statement of Income. The Company purchased inventories of $ 116 million and $ 119 million from Sunner for the quarters ended March 31, 2024 and 2023, respectively. The Company’s accounts payable and other current liabilities due to Sunner were $ 40 million and $ 51 million as of March 31, 2024 and December 31, 2023, respectively. As of March 31, 2024 and December 31, 2023, the carrying amount of the Company’s investment in Sunner was $ 221 million and $ 225 million, respectively, exceeding the Company’s interest in Sunner’s underlying net assets by $ 149 million and $ 152 million, respectively. As of March 31, 2024 and December 31, 2023, $ 16 million and $ 16 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 March 31, 2024 and December 31, 2023, the market value of the Company’s investment in Sunner was $ 141 million and $ 151 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, a delivery aggregator 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-ta x gains or losses on investment in equity securities of Meituan recognized, which were included in Investment gain (loss) in our Condensed Consolidated Statements of Income, is as follows: Quarter Ended 3/31/2024 3/31/2023 Unrealized gain (loss) recorded on equity securities still held $ 8 $ ( 17 )

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2024
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 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. We primarily use our dedicated riders to deliver orders, and also use platform riders at select locations. When orders are fulfilled by our dedicated riders or platform 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, sales of Lavazza coffee retail products beyond Lavazza coffee shops, and sales 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 in 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 . Disaggregation of Revenue The following tables present revenue disaggregated by types of arrangements and segments: Quarter Ended 3/31/2024 Revenues KFC Pizza Hut All Other Corporate and Unallocated Combined Elimination Consolidated Company sales $ 2,193 $ 587 $ 14 $ — $ 2,794 $ — $ 2,794 Franchise fees and income 18 2 5 — 25 — 25 Revenues from transactions 14 1 20 72 107 — 107 Other revenues 5 5 164 15 189 ( 157 ) 32 Total revenues $ 2,230 $ 595 $ 203 $ 87 $ 3,115 $ ( 157 ) $ 2,958 Quarter Ended 3/31/2023 Revenues KFC Pizza Hut All Other Corporate and Unallocated Combined Elimination Consolidated Company sales $ 2,166 $ 591 $ 15 $ — $ 2,772 $ — $ 2,772 Franchise fees and income 17 2 6 — 25 — 25 Revenues from transactions 10 1 19 63 93 — 93 Other revenues 5 3 162 10 180 ( 153 ) 27 Total revenues $ 2,198 $ 597 $ 202 $ 73 $ 3,070 $ ( 153 ) $ 2,917 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. As of March 31, 2024 and December 31, 2023, the ending balances of provision for accounts receivable were both $ 1 million, and amounts of accounts receivable past due were immaterial. 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 in 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 no t incur any impairment losses related to costs to obtain contracts during any of the periods presented. Costs to obtain contracts were $ 6 million at both March 31, 2024 and December 31, 2023. Contract Liabilities Contract liabilities at March 31, 2024 and December 31, 2023 were as follows: Contract liabilities 3/31/2024 12/31/2023 – Deferred revenue related to prepaid stored-value products $ 131 $ 142 – Deferred revenue related to upfront franchise fees 37 37 – Deferred revenue related to customer loyalty programs 27 24 – Deferred revenue related to privilege membership programs 25 24 – Others 1 1 Total $ 221 $ 228 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 $ 51 million and $ 58 million for the quarters ended March 31, 2024 and 2023, 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.

Earnings Per Common Share ("EPS

Earnings Per Common Share ("EPS")	3 Months Ended
	Mar. 31, 2024
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 3/31/2024 3/31/2023 Net Income – Yum China Holdings, Inc. $ 287 $ 289 Weighted-average common shares outstanding (a) 401 418 Effect of dilutive share-based awards (a) 2 5 Weighted-average common and dilutive potential common shares (a) 403 423 Basic Earnings Per Common Share $ 0.72 $ 0.69 Diluted Earnings Per Common Share $ 0.71 $ 0.68 Share-based awards excluded from the diluted EPS computation (b) 6 2 (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 March 31, 2024 and 2023.

Equity

Equity	3 Months Ended
	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Equity	Note 6 – Equity Share Repurchase and Retirement Our Board of Directors has authorized an aggregate of $ 3.4 billion for our share repurchase program. During the quarters ended March 31, 2024 and 2023, the Company repurchased 16.6 million shares of common stock for $ 681 million, and 1.0 million shares of common stock for $ 62 million, respectively, under the repurchase program. The total repurchase cost included $ 6 million and $ 2 million settled subsequent to March 31, 2024 and 2023, for shares repurchased with trade dates on and prior to March 31, 2024 and 2023, respectively. As of March 31, 2024, approximately $ 853 million remained available for future share repurchases under the authorization. Of the shares repurchased for the quarter ended March 31, 2024, 14.8 million shares were retired and resumed the status of authorized and unissued shares of common stock, and 1.8 million shares repurchased on the HKEX were retired subsequent to March 31, 2024 and included in Treasury stock in the Condensed Consolidated Financial Statement. The Inflation Reduction Act of 2022 (“IRA”), which is discussed further in Note 12, 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 $ 6 million for the quarter ended March 31, 2024, and the financial impact was not material for the quarter ended March 31, 2023.

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	3 Months Ended
	Mar. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Supplemental Balance Sheet Information	Note 7 – Supplemental Balance Sheet Information Accounts Receivable, net 3/31/2024 12/31/2023 Accounts receivable, gross $ 75 $ 69 Allowance for doubtful accounts ( 1 ) ( 1 ) Accounts receivable, net $ 74 $ 68 Prepaid Expenses and Other Current Assets 3/31/2024 12/31/2023 Value-added tax ("VAT") assets $ 94 $ 91 Interest receivables 64 46 Receivables from payment processors and aggregators 63 78 Deposits, primarily lease deposits 24 25 Other prepaid expenses and current assets 96 99 Prepaid expenses and other current assets $ 341 $ 339 Property, Plant and Equipment (“PP&E”) 3/31/2024 12/31/2023 Buildings and improvements, and construction in progress $ 3,046 $ 3,073 Finance leases, primarily buildings 70 68 Machinery and equipment 1,764 1,742 PP&E, gross 4,880 4,883 Accumulated depreciation ( 2,588 ) ( 2,573 ) PP&E, net $ 2,292 $ 2,310 Equity Investments 3/31/2024 12/31/2023 Investment in equity method investees $ 282 $ 287 Investment in equity securities 53 45 Equity investments $ 335 $ 332 Other Assets 3/31/2024 12/31/2023 Land use right $ 112 $ 115 Long-term deposits, primarily lease deposits 95 94 Prepayment for acquisition of PP&E 30 28 Costs to obtain contracts 6 6 VAT assets 7 6 Others 13 16 Other assets $ 263 $ 265 Accounts Payable and Other Current Liabilities 3/31/2024 12/31/2023 Accounts payable $ 727 $ 786 Operating lease liabilities 419 426 Accrued compensation and benefits 192 299 Contract liabilities 189 196 Accrued capital expenditures 173 226 Accrued marketing expenses 64 51 Dividends payable 25 40 Other current liabilities 147 140 Accounts payable and other current liabilities $ 1,936 $ 2,164 Other Liabilities 3/31/2024 12/31/2023 Accrued income tax payable $ 41 $ 39 Contract liabilities 32 32 Other non-current liabilities 93 86 Other liabilities $ 166 $ 157

Short-term Borrowings

Short-term Borrowings	3 Months Ended
	Mar. 31, 2024
Short-Term Debt [Abstract]
Short-term Borrowings	Note 9 – Short-term Borrowings As of March 31, 2024 and December 31, 2023, we had outstanding short-term bank borrowings of $ 165 million and $ 168 million, respectively, mainly to manage working capital at our operating subsidiaries, which were secured by short-term investments of $ 78 million and $ 79 million, respectively. The bank borrowings are RMB denominated , bear a weighted-average interest rate of 1.7 %, and are due within one year from their issuance dates.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 8 – Goodwill and Intangible Assets The changes in the carrying amount of goodwill are as follows: Total KFC Pizza Hut All Other Balance as of December 31, 2023 Goodwill, gross $ 2,323 $ 1,840 $ 18 $ 465 Accumulated impairment losses (a) ( 391 ) — — ( 391 ) Goodwill, net 1,932 1,840 18 74 Effect of currency translation adjustments ( 32 ) ( 31 ) — ( 1 ) Balance as of March 31, 2024 Goodwill, gross 2,291 1,809 18 464 Accumulated impairment losses (a) ( 391 ) — — ( 391 ) Goodwill, net $ 1,900 $ 1,809 $ 18 $ 73 (a) Accumulated impairment losses represent goodwill impairment attributable to the reporting units of Little Sheep and Daojia. Intangible assets, net as of March 31, 2024 and December 31, 2023 are as follows: 3/31/2024 12/31/2023 Gross (a) Accumulated (a) Accumulated Impairment Losses (b) Net Carrying Amount Gross Accumulated Accumulated Impairment Losses (b) Net Carrying Amount Finite-lived intangible assets Reacquired franchise $ 264 $ ( 261 ) $ — $ 3 $ 268 $ ( 265 ) $ — $ 3 Huang Ji Huang 21 ( 4 ) — 17 21 ( 4 ) — 17 Daojia platform 16 ( 4 ) ( 12 ) — 16 ( 4 ) ( 12 ) — Customer-related assets 12 ( 10 ) ( 2 ) — 12 ( 10 ) ( 2 ) — Others 8 ( 5 ) — 3 9 ( 6 ) — 3 $ 321 $ ( 284 ) $ ( 14 ) $ 23 $ 326 $ ( 289 ) $ ( 14 ) $ 23 Indefinite-lived intangible Little Sheep trademark $ 50 $ — $ — $ 50 $ 51 $ — $ — $ 51 Huang Ji Huang 74 — — 74 76 — — 76 $ 124 $ — $ — $ 124 $ 127 $ — $ — $ 127 Total intangible assets $ 445 $ ( 284 ) $ ( 14 ) $ 147 $ 453 $ ( 289 ) $ ( 14 ) $ 150 (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 $ 2 million for the quarters ended March 31, 2024 and 2023, respectively. As of March 31, 2024, expected amortization expense for the unamortized finite-lived intangible assets is less than $ 2 million for the remainder of 2024 and $ 2 million in each of 2025, 2026, 2027 and 2028.

Leases

Leases	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Leases	Note 10 – Leases As of March 31, 2024, we leased over 12,500 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 profit 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 3/31/2024 12/31/2023 Account Classification Assets Operating lease right-of-use assets $ 2,167 $ 2,217 Operating lease right-of-use assets Finance lease right-of-use assets 41 41 PP&E, net Total leased assets (a) $ 2,208 $ 2,258 Liabilities Current Operating lease liabilities $ 419 $ 426 Accounts payable and other current liabilities Finance lease liabilities 4 5 Accounts payable and other current liabilities Non-current Operating lease liabilities 1,847 1,899 Non-current operating lease liabilities Finance lease liabilities 44 44 Non-current finance lease liabilities Total lease liabilities (a) $ 2,314 $ 2,374 Summary of Lease Cost Quarter Ended 3/31/2024 3/31/2023 Account Classification Operating lease cost $ 130 $ 132 Occupancy and other operating expenses, Finance lease cost Amortization of leased assets 1 1 Occupancy and other operating expenses Interest on lease liabilities 1 1 Interest income, net Variable lease cost (b) 115 106 Occupancy and other operating expenses Short-term lease cost 3 4 Occupancy and other operating expenses Sub-lease income ( 5 ) ( 5 ) Franchise fees and income or Total lease cost $ 245 $ 239 (a) As of March 31, 2024, the decrease of right-of-use (“ROU”) assets was primarily due to the amortization of assets relating to existing leases with fixed lease payments, 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. (b) During the quarter ended March 31, 2023, the Company was granted $ 8 million in lease concessions from landlords related to the effects of the COVID-19 pandemic. 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. The Company was no longer granted such lease concession beginning in 2024. Supplemental Cash Flow Information Quarter Ended 3/31/2024 3/31/2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 129 $ 137 Operating cash flows from finance leases 1 1 Financing cash flows from finance leases 1 1 Right-of-use assets obtained in exchange for lease liabilities (c) : Operating leases $ 81 $ 46 Finance leases 2 — (c) 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 $ 73 million and $ 65 million for the quarters ended March 31, 2024 and 2023, respectively, as well as adjustments to lease liabilities or ROU assets due to modification or other reassessment events, which resulted in a $ 10 million increase and $ 19 million decrease in lease liabilities for the quarters ended March 31, 2024 and 2023, respectively. Lease Term and Discount Rate 3/31/2024 3/31/2023 Weighted-average remaining lease term (years) Operating leases 7.0 7.1 Finance leases 10.9 11.0 Weighted-average discount rate Operating leases 4.8 % 5.1 % Finance leases 5.0 % 5.1 % Summary of Future Lease Payments and Lease Liabilities Maturities of lease liabilities as of March 31, 2024 were as follows: Amount of Amount of Total Remainder of 2024 $ 399 $ 5 $ 404 2025 453 7 460 2026 406 6 412 2027 351 6 357 2028 285 6 291 Thereafter 784 33 817 Total undiscounted lease payment 2,678 63 2,741 Less: imputed interest (d) 412 15 427 Present value of lease liabilities $ 2,266 $ 48 $ 2,314 (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. As of March 31, 2024, we have additional lease agreements that have been signed but not yet commenced, with total undiscounted minimum lease payments of $ 124 million. These leases will commence between the second quarter of 2024 and 2026 with lease terms of 1 year to 20 years.

Fair Value Measurements and Dis

Fair Value Measurements and Disclosures	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements and Disclosures	Note 11 – 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 ended March 31, 2024 and 2023. Fair Value Measurement or Disclosure Balance at Level 1 Level 2 Level 3 Cash equivalents: Time deposits $ 147 $ 147 Money market funds 80 80 Total cash equivalents 227 80 147 — Short-term investments: Time deposits 1,276 1,276 Fixed income debt securities (a) 100 100 Structured deposits 136 136 Total short-term investments 1,512 — 1,512 — Long-term bank deposits and notes: Time deposits 540 540 Fixed income bank notes (a) 367 367 Total long-term bank deposits and notes 907 — 907 — Equity investments: Investment in equity securities 53 53 Total $ 2,699 $ 133 $ 2,566 $ — Fair Value Measurement or Disclosure Balance at Level 1 Level 2 Level 3 Cash equivalents: Time deposits $ 293 $ 293 Fixed income debt securities (a) 14 14 Money market funds 11 11 Total cash equivalents 318 25 293 — Short-term investments: Time deposits 1,113 1,113 Fixed income debt securities (a) 200 200 Structured deposits 138 138 Variable return investments 21 21 Total short-term investments 1,472 21 1,451 — Long-term bank deposits and notes: Time deposits 903 903 Fixed income bank notes (a) 362 362 Total long-term bank deposits and notes 1,265 — 1,265 — Equity investments: Investment in equity securities 45 45 Total $ 3,100 $ 91 $ 3,009 $ — (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 $ 28 million of time deposits in Long-term bank deposits and notes were restricted for use as of both March 31, 2024 and December 31, 2023. 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.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 12 – Income Taxes Quarter Ended 3/31/2024 3/31/2023 Income tax provision $ 113 $ 125 Effective tax rate 26.9 % 28.5 % The lower effective tax rate for the quarter ended March 31, 2024 was primarily due to the favorable impact from the reduction of certain non-deductible expenses. 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. In 2023, additional notices were released to continue to provide interim guidance regarding certain CAMT issues before proposed regulations are published. 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 may be subject to the new tax regime. Based on our preliminary analysis, this legislation did not have a material impact on our financial statements. The Company will monitor the developments and continue to evaluate the impact, if any. The Organization for Economic Cooperation and Development (the "OECD"), the European Union and other jurisdictions (including jurisdictions in which we have operations or presence) have committed to enacting substantial changes to numerous long-standing tax principles impacting how large multinational enterprises are taxed. In particular, the OECD's Pillar Two initiative introduces a 15 % global minimum tax applied on a jurisdiction-by-jurisdiction basis and for which many jurisdictions have now committed to an effective enactment date starting January 1, 2024. 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.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Reporting	Note 13 – Segment Reporting We have two reportable segments: KFC and Pizza Hut. Our non-reportable operating segments, including the operations of Lavazza, Huang Ji Huang, Little Sheep and Taco Bell, our delivery operating segment and our e-commerce business, are combined and referred to as All Other Segments, as these operating segments are insignificant both individually and in the aggregate. Quarter Ended 3/31/2024 Revenues KFC Pizza Hut All Other Corporate and Unallocated (a) Combined Elimination Consolidated Revenue from external $ 2,230 $ 595 $ 46 $ 87 $ 2,958 $ — $ 2,958 Inter-segment revenue — — 157 — 157 ( 157 ) — Total $ 2,230 $ 595 $ 203 $ 87 $ 3,115 $ ( 157 ) $ 2,958 Quarter Ended 3/31/2023 Revenues KFC Pizza Hut All Other Corporate and Unallocated (a) Combined Elimination Consolidated Revenue from external $ 2,198 $ 597 $ 49 $ 73 $ 2,917 $ — $ 2,917 Inter-segment revenue — — 153 — 153 ( 153 ) — Total $ 2,198 $ 597 $ 202 $ 73 $ 3,070 $ ( 153 ) $ 2,917 Quarter Ended Operating Profit (Loss) 3/31/2024 3/31/2023 KFC $ 372 $ 420 Pizza Hut 47 55 All Other Segments ( 5 ) ( 6 ) Unallocated revenues from transactions with franchisees (b) 72 63 Unallocated other revenues 15 10 Unallocated expenses for transactions with franchisees (b) ( 72 ) ( 63 ) Unallocated other operating costs and expenses ( 14 ) ( 8 ) Unallocated and corporate G&A expenses ( 42 ) ( 56 ) Unallocated other income, net 1 1 Operating Profit $ 374 $ 416 Interest income, net (a) 38 38 Investment gain (loss) (a) 8 ( 17 ) Income Before Income Taxes and Equity in $ 420 $ 437 Quarter Ended Impairment Charges 3/31/2024 3/31/2023 KFC (c) $ 2 $ 3 Pizza Hut (c) 1 1 All Other Segments (c) 1 — $ 4 $ 4 Total Assets 3/31/2024 12/31/2023 KFC $ 5,265 $ 5,371 Pizza Hut 890 904 All Other Segments 334 347 Corporate and Unallocated (d) 4,806 5,409 $ 11,295 $ 12,031 (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. (d) Primarily includes cash and cash equivalents, short-term investments, long-term bank deposits and notes, equity investments, and 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.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Note 14 – 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 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. 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.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 15 – Subsequent Events Cash Dividend On April 29, 2024 , the Company announced that the Board of Directors declared a cash dividend of $ 0.16 per share on Yum China ’ s common stock, payable on June 18, 2024 , to stockholders of record as of the close of business on May 28, 2024 . Total estimated cash dividend payable is approximately $ 63 million.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In March 2023, the FASB issued ASU 2023-01, Leases (Topic 842) — Common Control Arrangements (“ASU 2023-01”). It requires all lessees, including public business entities, to amortize leasehold improvements associated with common control leases over their useful life to the common control group and account for them as a transfer of assets between entities under common control through an adjustment to equity when the lessee no longer controls the use of the underlying asset. ASU 2023-01 is effective for the Company from January 1, 2024, with early adoption permitted. We adopted this standard on January 1, 2024, and such adoption did not have a material impact on our financial statements.
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.
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. We primarily use our dedicated riders to deliver orders, and also use platform riders at select locations. When orders are fulfilled by our dedicated riders or platform 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, sales of Lavazza coffee retail products beyond Lavazza coffee shops, and sales 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	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 in 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 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	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 in 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.

Business Acquisitions and Equ_2

Business Acquisitions and Equity Investments (Tables)	3 Months Ended
	Mar. 31, 2024
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	A summary of pre-ta x gains or losses on investment in equity securities of Meituan recognized, which were included in Investment gain (loss) in our Condensed Consolidated Statements of Income, is as follows: Quarter Ended 3/31/2024 3/31/2023 Unrealized gain (loss) recorded on equity securities still held $ 8 $ ( 17 )

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2024
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 3/31/2024 Revenues KFC Pizza Hut All Other Corporate and Unallocated Combined Elimination Consolidated Company sales $ 2,193 $ 587 $ 14 $ — $ 2,794 $ — $ 2,794 Franchise fees and income 18 2 5 — 25 — 25 Revenues from transactions 14 1 20 72 107 — 107 Other revenues 5 5 164 15 189 ( 157 ) 32 Total revenues $ 2,230 $ 595 $ 203 $ 87 $ 3,115 $ ( 157 ) $ 2,958 Quarter Ended 3/31/2023 Revenues KFC Pizza Hut All Other Corporate and Unallocated Combined Elimination Consolidated Company sales $ 2,166 $ 591 $ 15 $ — $ 2,772 $ — $ 2,772 Franchise fees and income 17 2 6 — 25 — 25 Revenues from transactions 10 1 19 63 93 — 93 Other revenues 5 3 162 10 180 ( 153 ) 27 Total revenues $ 2,198 $ 597 $ 202 $ 73 $ 3,070 $ ( 153 ) $ 2,917
Contract Liabilities	Contract liabilities at March 31, 2024 and December 31, 2023 were as follows: Contract liabilities 3/31/2024 12/31/2023 – Deferred revenue related to prepaid stored-value products $ 131 $ 142 – Deferred revenue related to upfront franchise fees 37 37 – Deferred revenue related to customer loyalty programs 27 24 – Deferred revenue related to privilege membership programs 25 24 – Others 1 1 Total $ 221 $ 228

Earnings Per Common Share ("E_2

Earnings Per Common Share ("EPS") (Tables)	3 Months Ended
	Mar. 31, 2024
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 3/31/2024 3/31/2023 Net Income – Yum China Holdings, Inc. $ 287 $ 289 Weighted-average common shares outstanding (a) 401 418 Effect of dilutive share-based awards (a) 2 5 Weighted-average common and dilutive potential common shares (a) 403 423 Basic Earnings Per Common Share $ 0.72 $ 0.69 Diluted Earnings Per Common Share $ 0.71 $ 0.68 Share-based awards excluded from the diluted EPS computation (b) 6 2 (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 March 31, 2024 and 2023.

Supplemental Balance Sheet In_2

Supplemental Balance Sheet Information (Tables)	3 Months Ended
	Mar. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Accounts Receivable, Net	Accounts Receivable, net 3/31/2024 12/31/2023 Accounts receivable, gross $ 75 $ 69 Allowance for doubtful accounts ( 1 ) ( 1 ) Accounts receivable, net $ 74 $ 68
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets 3/31/2024 12/31/2023 Value-added tax ("VAT") assets $ 94 $ 91 Interest receivables 64 46 Receivables from payment processors and aggregators 63 78 Deposits, primarily lease deposits 24 25 Other prepaid expenses and current assets 96 99 Prepaid expenses and other current assets $ 341 $ 339
Property, Plant and Equipment	Property, Plant and Equipment (“PP&E”) 3/31/2024 12/31/2023 Buildings and improvements, and construction in progress $ 3,046 $ 3,073 Finance leases, primarily buildings 70 68 Machinery and equipment 1,764 1,742 PP&E, gross 4,880 4,883 Accumulated depreciation ( 2,588 ) ( 2,573 ) PP&E, net $ 2,292 $ 2,310
Equity Investments	Equity Investments 3/31/2024 12/31/2023 Investment in equity method investees $ 282 $ 287 Investment in equity securities 53 45 Equity investments $ 335 $ 332
Accounts Payable and Other Current Liabilities	Other Assets 3/31/2024 12/31/2023 Land use right $ 112 $ 115 Long-term deposits, primarily lease deposits 95 94 Prepayment for acquisition of PP&E 30 28 Costs to obtain contracts 6 6 VAT assets 7 6 Others 13 16 Other assets $ 263 $ 265 Accounts Payable and Other Current Liabilities 3/31/2024 12/31/2023 Accounts payable $ 727 $ 786 Operating lease liabilities 419 426 Accrued compensation and benefits 192 299 Contract liabilities 189 196 Accrued capital expenditures 173 226 Accrued marketing expenses 64 51 Dividends payable 25 40 Other current liabilities 147 140 Accounts payable and other current liabilities $ 1,936 $ 2,164
Other Liabilities and Deferred Credits	Other Liabilities 3/31/2024 12/31/2023 Accrued income tax payable $ 41 $ 39 Contract liabilities 32 32 Other non-current liabilities 93 86 Other liabilities $ 166 $ 157

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2024
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 KFC Pizza Hut All Other Balance as of December 31, 2023 Goodwill, gross $ 2,323 $ 1,840 $ 18 $ 465 Accumulated impairment losses (a) ( 391 ) — — ( 391 ) Goodwill, net 1,932 1,840 18 74 Effect of currency translation adjustments ( 32 ) ( 31 ) — ( 1 ) Balance as of March 31, 2024 Goodwill, gross 2,291 1,809 18 464 Accumulated impairment losses (a) ( 391 ) — — ( 391 ) Goodwill, net $ 1,900 $ 1,809 $ 18 $ 73 (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 March 31, 2024 and December 31, 2023 are as follows: 3/31/2024 12/31/2023 Gross (a) Accumulated (a) Accumulated Impairment Losses (b) Net Carrying Amount Gross Accumulated Accumulated Impairment Losses (b) Net Carrying Amount Finite-lived intangible assets Reacquired franchise $ 264 $ ( 261 ) $ — $ 3 $ 268 $ ( 265 ) $ — $ 3 Huang Ji Huang 21 ( 4 ) — 17 21 ( 4 ) — 17 Daojia platform 16 ( 4 ) ( 12 ) — 16 ( 4 ) ( 12 ) — Customer-related assets 12 ( 10 ) ( 2 ) — 12 ( 10 ) ( 2 ) — Others 8 ( 5 ) — 3 9 ( 6 ) — 3 $ 321 $ ( 284 ) $ ( 14 ) $ 23 $ 326 $ ( 289 ) $ ( 14 ) $ 23 Indefinite-lived intangible Little Sheep trademark $ 50 $ — $ — $ 50 $ 51 $ — $ — $ 51 Huang Ji Huang 74 — — 74 76 — — 76 $ 124 $ — $ — $ 124 $ 127 $ — $ — $ 127 Total intangible assets $ 445 $ ( 284 ) $ ( 14 ) $ 147 $ 453 $ ( 289 ) $ ( 14 ) $ 150 (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.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Summary of Supplemental Balance Sheet	Supplemental Balance Sheet 3/31/2024 12/31/2023 Account Classification Assets Operating lease right-of-use assets $ 2,167 $ 2,217 Operating lease right-of-use assets Finance lease right-of-use assets 41 41 PP&E, net Total leased assets (a) $ 2,208 $ 2,258 Liabilities Current Operating lease liabilities $ 419 $ 426 Accounts payable and other current liabilities Finance lease liabilities 4 5 Accounts payable and other current liabilities Non-current Operating lease liabilities 1,847 1,899 Non-current operating lease liabilities Finance lease liabilities 44 44 Non-current finance lease liabilities Total lease liabilities (a) $ 2,314 $ 2,374 (a) As of March 31, 2024, the decrease of right-of-use (“ROU”) assets was primarily due to the amortization of assets relating to existing leases with fixed lease payments, 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 3/31/2024 3/31/2023 Account Classification Operating lease cost $ 130 $ 132 Occupancy and other operating expenses, Finance lease cost Amortization of leased assets 1 1 Occupancy and other operating expenses Interest on lease liabilities 1 1 Interest income, net Variable lease cost (b) 115 106 Occupancy and other operating expenses Short-term lease cost 3 4 Occupancy and other operating expenses Sub-lease income ( 5 ) ( 5 ) Franchise fees and income or Total lease cost $ 245 $ 239 (b) During the quarter ended March 31, 2023, the Company was granted $ 8 million in lease concessions from landlords related to the effects of the COVID-19 pandemic. 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. The Company was no longer granted such lease concession beginning in 2024.
Schedule of Supplemental Cash Flow Information	Supplemental Cash Flow Information Quarter Ended 3/31/2024 3/31/2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 129 $ 137 Operating cash flows from finance leases 1 1 Financing cash flows from finance leases 1 1 Right-of-use assets obtained in exchange for lease liabilities (c) : Operating leases $ 81 $ 46 Finance leases 2 — (c) 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 $ 73 million and $ 65 million for the quarters ended March 31, 2024 and 2023, respectively, as well as adjustments to lease liabilities or ROU assets due to modification or other reassessment events, which resulted in a $ 10 million increase and $ 19 million decrease in lease liabilities for the quarters ended March 31, 2024 and 2023, respectively.
Schedule of Lease Terms and Discount Rate	Lease Term and Discount Rate 3/31/2024 3/31/2023 Weighted-average remaining lease term (years) Operating leases 7.0 7.1 Finance leases 10.9 11.0 Weighted-average discount rate Operating leases 4.8 % 5.1 % Finance leases 5.0 % 5.1 %
Summary of Maturities of Lease Liabilities	Maturities of lease liabilities as of March 31, 2024 were as follows: Amount of Amount of Total Remainder of 2024 $ 399 $ 5 $ 404 2025 453 7 460 2026 406 6 412 2027 351 6 357 2028 285 6 291 Thereafter 784 33 817 Total undiscounted lease payment 2,678 63 2,741 Less: imputed interest (d) 412 15 427 Present value of lease liabilities $ 2,266 $ 48 $ 2,314 (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.

Fair Value Measurements and D_2

Fair Value Measurements and Disclosures (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Assets Measured on Recurring Basis or Disclosed at Fair Value	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 ended March 31, 2024 and 2023. Fair Value Measurement or Disclosure Balance at Level 1 Level 2 Level 3 Cash equivalents: Time deposits $ 147 $ 147 Money market funds 80 80 Total cash equivalents 227 80 147 — Short-term investments: Time deposits 1,276 1,276 Fixed income debt securities (a) 100 100 Structured deposits 136 136 Total short-term investments 1,512 — 1,512 — Long-term bank deposits and notes: Time deposits 540 540 Fixed income bank notes (a) 367 367 Total long-term bank deposits and notes 907 — 907 — Equity investments: Investment in equity securities 53 53 Total $ 2,699 $ 133 $ 2,566 $ — Fair Value Measurement or Disclosure Balance at Level 1 Level 2 Level 3 Cash equivalents: Time deposits $ 293 $ 293 Fixed income debt securities (a) 14 14 Money market funds 11 11 Total cash equivalents 318 25 293 — Short-term investments: Time deposits 1,113 1,113 Fixed income debt securities (a) 200 200 Structured deposits 138 138 Variable return investments 21 21 Total short-term investments 1,472 21 1,451 — Long-term bank deposits and notes: Time deposits 903 903 Fixed income bank notes (a) 362 362 Total long-term bank deposits and notes 1,265 — 1,265 — Equity investments: Investment in equity securities 45 45 Total $ 3,100 $ 91 $ 3,009 $ — (a) Classified as held-to-maturity investments and measured at amortized cost.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Tax And Effective Tax Rate	Quarter Ended 3/31/2024 3/31/2023 Income tax provision $ 113 $ 125 Effective tax rate 26.9 % 28.5 %

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Quarter Ended 3/31/2024 Revenues KFC Pizza Hut All Other Corporate and Unallocated (a) Combined Elimination Consolidated Revenue from external $ 2,230 $ 595 $ 46 $ 87 $ 2,958 $ — $ 2,958 Inter-segment revenue — — 157 — 157 ( 157 ) — Total $ 2,230 $ 595 $ 203 $ 87 $ 3,115 $ ( 157 ) $ 2,958 Quarter Ended 3/31/2023 Revenues KFC Pizza Hut All Other Corporate and Unallocated (a) Combined Elimination Consolidated Revenue from external $ 2,198 $ 597 $ 49 $ 73 $ 2,917 $ — $ 2,917 Inter-segment revenue — — 153 — 153 ( 153 ) — Total $ 2,198 $ 597 $ 202 $ 73 $ 3,070 $ ( 153 ) $ 2,917 Quarter Ended Operating Profit (Loss) 3/31/2024 3/31/2023 KFC $ 372 $ 420 Pizza Hut 47 55 All Other Segments ( 5 ) ( 6 ) Unallocated revenues from transactions with franchisees (b) 72 63 Unallocated other revenues 15 10 Unallocated expenses for transactions with franchisees (b) ( 72 ) ( 63 ) Unallocated other operating costs and expenses ( 14 ) ( 8 ) Unallocated and corporate G&A expenses ( 42 ) ( 56 ) Unallocated other income, net 1 1 Operating Profit $ 374 $ 416 Interest income, net (a) 38 38 Investment gain (loss) (a) 8 ( 17 ) Income Before Income Taxes and Equity in $ 420 $ 437 Quarter Ended Impairment Charges 3/31/2024 3/31/2023 KFC (c) $ 2 $ 3 Pizza Hut (c) 1 1 All Other Segments (c) 1 — $ 4 $ 4 Total Assets 3/31/2024 12/31/2023 KFC $ 5,265 $ 5,371 Pizza Hut 890 904 All Other Segments 334 347 Corporate and Unallocated (d) 4,806 5,409 $ 11,295 $ 12,031 (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. (d) Primarily includes cash and cash equivalents, short-term investments, long-term bank deposits and notes, equity investments, and 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.

Description of Business - Narra

Description of Business - Narrative (Details) $ in Millions		3 Months Ended
	Sep. 10, 2020 USD ($) shares	Mar. 31, 2024 Segment Restaurant	Dec. 31, 2021 USD ($)	Jun. 30, 2020
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%
Number of reportable segments | Segment		2
Number of restaurants		12,500
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%
KFC [Member] | Minimum [Member]
Segment Reporting Information [Line Items]
Number of restaurants		10,603
KFC [Member] | Shanghai [Member] | Owner and Operator of KFC [Member]
Segment Reporting Information [Line Items]
Controlling ownership percentage maintained		58%
KFC [Member] | Beijing [Member] | Owner and Operator of KFC [Member]
Segment Reporting Information [Line Items]
Controlling ownership percentage maintained		70%
KFC [Member] | Wuxi [Member] | Owner and Operator of KFC [Member]
Segment Reporting Information [Line Items]
Controlling ownership percentage maintained		83%
KFC [Member] | Suzhou [Member] | Owner and Operator of KFC [Member]
Segment Reporting Information [Line Items]
Controlling ownership percentage maintained		92%
KFC [Member] | Hangzhou [Member] | Owner and Operator of KFC [Member]
Segment Reporting Information [Line Items]
Controlling ownership percentage maintained		60%
Pizza Hut [Member] | Minimum [Member]
Segment Reporting Information [Line Items]
Number of restaurants		3,425
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
Hangzhou Catering [Member]
Segment Reporting Information [Line Items]
Percentage of additional equity interest acquired			28%
Cash consideration paid to acquire interest | $			$ 255
Number of restaurants		0

Business Acquisitions and Equ_3

Business Acquisitions and Equity Investments - Narrative (Details) shares in Millions, $ in Millions	3 Months Ended			12 Months Ended
	Mar. 31, 2024 USD ($) Restaurant	Mar. 31, 2023 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 USD ($)	Mar. 31, 2021	Jun. 30, 2020 shares	Sep. 30, 2018 USD ($) shares
Business Acquisitions And Equity Investments [Line Items]
Number of restaurants | Restaurant	12,500
Due to related parties, current	$ 147			$ 140
Fujian Sunner Development Co., Ltd. [Member]
Business Acquisitions And Equity Investments [Line Items]
Percentage of equity interest acquired					5%
Purchase of inventories	116	$ 119
Investment carrying amount	221			225
Market value	141			151
Investment in net assets excess of carrying amount	$ 149			152
Finite-lived intangible asset, useful life	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
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	40			51
Meituan Dianping [Member]
Business Acquisitions And Equity Investments [Line Items]
Unrealized investment gain (loss)	$ 8	$ (17)
Number of ordinary shares subscribed | shares							8.4
Maximum percentage of ordinary shares subscribed							1%
Fair value of Investment in Meituan's ordinary shares							$ 74
Number of ordinary shares sold | shares						4.2
Hangzhou KFC [Member]
Business Acquisitions And Equity Investments [Line Items]
Percentage of equity interest previously held by company			47%
Percentage of equity interest by company			60%
Hangzhou Catering [Member]
Business Acquisitions And Equity Investments [Line Items]
Percentage of additional equity interest acquired			28%
Cash consideration paid to acquire interest			$ 255
Number of restaurants | Restaurant	0
Investment carrying amount	$ 41			41
Investment in net assets excess of carrying amount	$ 23			$ 24
Finite-lived intangible asset, useful life	20 years
Hangzhou Catering [Member] | Hangzhou KFC [Member]
Business Acquisitions And Equity Investments [Line Items]
Percentage of equity interest acquired			45%
Hangzhou Catering [Member] | Unconsolidated Affiliates [Member]
Business Acquisitions And Equity Investments [Line Items]
Percentage of equity interest acquired	28%

Business Acquisitions and Equ_4

Business Acquisitions and Equity Investments - Summary of Pre-tax Gains or Losses in Investment in Equity Securities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Meituan Dianping [Member]
Debt and Equity Securities, FV-NI [Line Items]
Unrealized gain (loss) recorded on equity securities still held as of the end of the period	$ 8	$ (17)

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
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	$ 1		$ 1
Impairment losses related to costs to obtain contracts	0		0
Costs to obtain contracts	6		$ 6
Revenue recognized	$ 51	$ 58
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

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Disaggregation of Revenue by Types of Arrangements and Segments (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Disaggregation Of Revenue [Line Items]
Total revenues		$ 2,958	$ 2,917
Combined [Member]
Disaggregation Of Revenue [Line Items]
Total revenues		3,115	3,070
Elimination [Member]
Disaggregation Of Revenue [Line Items]
Total revenues		(157)	(153)
Operating Segments [Member] | KFC [Member]
Disaggregation Of Revenue [Line Items]
Total revenues		2,230	2,198
Operating Segments [Member] | Pizza Hut [Member]
Disaggregation Of Revenue [Line Items]
Total revenues		595	597
Operating Segments [Member] | All Other Segments [Member]
Disaggregation Of Revenue [Line Items]
Total revenues		203	202
Operating Segments [Member] | Corporate and Unallocated [Member]
Disaggregation Of Revenue [Line Items]
Total revenues	[1]	87	73
Company Sales [Member]
Disaggregation Of Revenue [Line Items]
Revenues		2,794	2,772
Company Sales [Member] | Combined [Member]
Disaggregation Of Revenue [Line Items]
Revenues		2,794	2,772
Company Sales [Member] | Operating Segments [Member] | KFC [Member]
Disaggregation Of Revenue [Line Items]
Revenues		2,193	2,166
Company Sales [Member] | Operating Segments [Member] | Pizza Hut [Member]
Disaggregation Of Revenue [Line Items]
Revenues		587	591
Company Sales [Member] | Operating Segments [Member] | All Other Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenues		14	15
Franchise [Member]
Disaggregation Of Revenue [Line Items]
Revenues		25	25
Franchise [Member] | Combined [Member]
Disaggregation Of Revenue [Line Items]
Revenues		25	25
Franchise [Member] | Operating Segments [Member] | KFC [Member]
Disaggregation Of Revenue [Line Items]
Revenues		18	17
Franchise [Member] | Operating Segments [Member] | Pizza Hut [Member]
Disaggregation Of Revenue [Line Items]
Revenues		2	2
Franchise [Member] | Operating Segments [Member] | All Other Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenues		5	6
Transactions With Franchisees [Member]
Disaggregation Of Revenue [Line Items]
Revenues		107	93
Transactions With Franchisees [Member] | Combined [Member]
Disaggregation Of Revenue [Line Items]
Revenues		107	93
Transactions With Franchisees [Member] | Operating Segments [Member] | KFC [Member]
Disaggregation Of Revenue [Line Items]
Revenues		14	10
Transactions With Franchisees [Member] | Operating Segments [Member] | Pizza Hut [Member]
Disaggregation Of Revenue [Line Items]
Revenues		1	1
Transactions With Franchisees [Member] | Operating Segments [Member] | All Other Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenues		20	19
Transactions With Franchisees [Member] | Operating Segments [Member] | Corporate and Unallocated [Member]
Disaggregation Of Revenue [Line Items]
Revenues		72	63
Other Revenues [Member]
Disaggregation Of Revenue [Line Items]
Revenues		32	27
Other Revenues [Member] | Combined [Member]
Disaggregation Of Revenue [Line Items]
Revenues		189	180
Other Revenues [Member] | Elimination [Member]
Disaggregation Of Revenue [Line Items]
Revenues		(157)	(153)
Other Revenues [Member] | Operating Segments [Member] | KFC [Member]
Disaggregation Of Revenue [Line Items]
Revenues		5	5
Other Revenues [Member] | Operating Segments [Member] | Pizza Hut [Member]
Disaggregation Of Revenue [Line Items]
Revenues		5	3
Other Revenues [Member] | Operating Segments [Member] | All Other Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenues		164	162
Other Revenues [Member] | Operating Segments [Member] | Corporate and Unallocated [Member]
Disaggregation Of Revenue [Line Items]
Revenues		$ 15	$ 10
[1] Amounts have not been allocated to any segment for performance reporting purposes.

Revenue Recognition - Contract

Revenue Recognition - Contract Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Contract liabilities
Contract liabilities	$ 221	$ 228
Deferred Revenue Related To Prepaid Stored Value Products [Member]
Contract liabilities
Contract liabilities	131	142
Deferred Revenue Related To Upfront Franchise Fees [Member]
Contract liabilities
Contract liabilities	37	37
Deferred Revenue Related To Customer Loyalty Programs [Member]
Contract liabilities
Contract liabilities	27	24
Deferred Revenue Related To Privilege Membership Programs [Member]
Contract liabilities
Contract liabilities	25	24
Others [Member]
Contract liabilities
Contract liabilities	$ 1	$ 1

Earnings Per Common Share ("E_3

Earnings Per Common Share ("EPS") (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Net Income (Loss)		$ 287	$ 289
Weighted-average common shares outstanding (for basic calculation)	[1]	401	418
Effect of dilutive share-based awards	[1]	2	5
Weighted-average common and dilutive potential common shares outstanding (for diluted calculation)	[1]	403	423
Basic Earnings Per Common Share		$ 0.72	$ 0.69
Diluted Earnings Per Common Share		$ 0.71	$ 0.68
Share-based awards excluded from the diluted EPS computation	[2]	6	2
[1] 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. 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 March 31, 2024 and 2023.

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) shares in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Class Of Stock [Line Items]
Stock repurchase program, authorized amount	$ 3,400,000,000
Treasury stock repurchased, shares	16.6	1
Treasury stock repurchased, value	$ 681,000,000	$ 62,000,000
Stock repurchase program, remaining authorized repurchase amount	$ 853,000,000
Number of shares repurchased	1.8
Shares repurchases retired and resumed	14.8
Excise tax on net share repurchases	1%
Excise tax on net share repurchases cost	$ 6,000,000
$6 Million Settled Subsequent to March 31, 2024 [Member]
Class Of Stock [Line Items]
Treasury stock repurchased, value	$ 6,000,000
$2 Million Settled Subsequent to March 31, 2024 [Member]
Class Of Stock [Line Items]
Treasury stock repurchased, value		$ 2,000,000

Items Affecting Comparability o

Items Affecting Comparability of Net Income - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating profit	$ 374	$ 416
Meituan Dianping [Member]
Unrealized investment gain (loss)	$ 8	$ (17)

Other Expenses, Net (Details)

Other Expenses, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Other Income and Expenses [Abstract]
Other expenses, net	$ (1)	$ 1

Supplemental Balance Sheet In_3

Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Accounts Receivable, net
Accounts receivable, gross	$ 75	$ 69
Allowance for doubtful accounts	(1)	(1)
Accounts receivable, net	74	68
Prepaid Expenses and Other Current Assets
Value-added tax ("VAT") assets	94	91
Interest receivables	64	46
Receivables from payment processors and aggregators	63	78
Deposits, primarily lease deposits	24	25
Other prepaid expenses and current assets	96	99
Prepaid expenses and other current assets	341	339
Equity Investments
Investment in equity method investees	282	287
Investment in equity securities	53	45
Equity investments	335	332
Other Assets
Land use right	112	115
Long-term deposits, primarily lease deposits	95	94
Prepayment for acquisition of PP&E	30	28
Costs to obtain contracts	6	6
VAT assets	7	6
Others	13	16
Other assets	263	265
Accounts Payable and Other Current Liabilities
Accounts payable	727	786
Operating lease liabilities	419	426
Accrued compensation and benefits	192	299
Contract liabilities	189	196
Accrued capital expenditures	173	226
Accrued marketing expenses	64	51
Dividends payable	25	40
Other current liabilities	147	140
Accounts payable and other current liabilities	1,936	2,164
Other Liabilities
Accrued income tax payable	41	39
Contract liabilities	32	32
Other non-current liabilities	93	86
Other liabilities	$ 166	$ 157

Supplemental Balance Sheet In_4

Supplemental Balance Sheet Information (Details 1) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
PP&E, gross	$ 4,880	$ 4,883
Accumulated depreciation	(2,588)	(2,573)
PP&E, net	2,292	2,310
Buildings and Improvements, and Construction in Progress [Member]
Property Plant And Equipment [Line Items]
PP&E, gross	3,046	3,073
Finance Leases, Primarily Buildings [Member]
Property Plant And Equipment [Line Items]
PP&E, gross	70	68
Machinery and Equipment [Member]
Property Plant And Equipment [Line Items]
PP&E, gross	$ 1,764	$ 1,742

Short-term Borrowings - Narrati

Short-term Borrowings - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Short-Term Debt [Line Items]
Short-term bank borrowing outstanding	$ 165	$ 168
Short-term investments	1,512	1,472
Short-Term Debt [Member]
Short-Term Debt [Line Items]
Short-term investments	$ 78	$ 79
Weighted-average interest rate	1.70%

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Mar. 31, 2024
Goodwill [Line Items]
Goodwill, gross		$ 2,323	$ 2,291
Accumulated impairment losses	[1]	(391)	(391)
Goodwill, net		1,932	1,900
Effect of currency translation adjustments		(32)
KFC [Member]
Goodwill [Line Items]
Goodwill, gross		1,840	1,809
Goodwill, net		1,840	1,809
Effect of currency translation adjustments		(31)
Pizza Hut [Member]
Goodwill [Line Items]
Goodwill, gross		18	18
Goodwill, net		18	18
All Other Segments [Member]
Goodwill [Line Items]
Goodwill, gross		465	464
Accumulated impairment losses	[1]	(391)	(391)
Goodwill, net		74	$ 73
Effect of currency translation adjustments		$ (1)
[1] Accumulated impairment losses represent goodwill impairment attributable to the reporting units of Little Sheep and Daojia.

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Details 1) - USD ($) $ in Millions		Mar. 31, 2024		Dec. 31, 2023
Finite-lived intangible assets
Gross Carrying Amount		$ 321	[1]	$ 326
Accumulated Amortization		(284)	[1]	(289)
Accumulated Impairment Losses	[2]	(14)		(14)
Net Carrying Amount		23		23
Indefinite-lived intangible assets
Net Carrying Amount		124		127
Total intangible assets
Gross Carrying Amount		445	[1]	453
Intangible assets, net		147		150
Reacquired franchise rights [Member]
Finite-lived intangible assets
Gross Carrying Amount		264	[1]	268
Accumulated Amortization		(261)	[1]	(265)
Net Carrying Amount		3		3
Daojia platform [Member]
Finite-lived intangible assets
Gross Carrying Amount		16	[1]	16
Accumulated Amortization		(4)	[1]	(4)
Accumulated Impairment Losses	[2]	(12)		(12)
Customer-related assets [Member]
Finite-lived intangible assets
Gross Carrying Amount		12	[1]	12
Accumulated Amortization		(10)	[1]	(10)
Accumulated Impairment Losses	[2]	(2)		(2)
Others [Member]
Finite-lived intangible assets
Gross Carrying Amount		8	[1]	9
Accumulated Amortization		(5)	[1]	(6)
Net Carrying Amount		3		3
Huang Ji Huang Group [Member]
Finite-lived intangible assets
Gross Carrying Amount		21	[1]	21
Accumulated Amortization		(4)	[1]	(4)
Net Carrying Amount		17		17
Trademark [Member] | Little Sheep [Member]
Indefinite-lived intangible assets
Net Carrying Amount		50		51
Trademark [Member] | Huang Ji Huang Group [Member]
Indefinite-lived intangible assets
Net Carrying Amount		$ 74		$ 76
[1] Changes in gross carrying amount and accumulated amortization include the effect of currency translation adjustments. Accumulated impairment losses represent impairment charges on intangible assets acquired from Daojia primarily attributable to the Daojia platform.

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Goodwill [Line Items]
Finite-lived intangible assets, amortization expense	$ 1,000,000	$ 2,000,000
Expected amortization expense for the unamortized finite-lived intangible assets - 2025	2,000,000
Expected amortization expense for the unamortized finite-lived intangible assets - 2026	2,000,000
Expected amortization expense for the unamortized finite-lived intangible assets - 2027	2,000,000
Expected amortization expense for the unamortized finite-lived intangible assets - 2028	2,000,000
Maximum [Member]
Goodwill [Line Items]
Expected amortization expense for the unamortized finite-lived intangible assets - remainder of 2024	$ 2,000,000

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) Restaurant
Schedule Of Lease Assets And Liabilities [Line Items]
Number of restaurants leased | Restaurant	12,500
Additional lease signed but not commenced with total undiscounted minimum lease payments | $	$ 124
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

Leases - Summary of Supplementa

Leases - Summary of Supplemental Balance Sheet (Details) - USD ($) $ in Millions		Mar. 31, 2024	Dec. 31, 2023
Schedule Of Lease Assets And Liabilities [Abstract]
Operating lease right-of-use assets		$ 2,167	$ 2,217
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]		Operating lease right-of-use assets	Operating lease right-of-use assets
Finance lease right-of-use assets		$ 41	$ 41
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]		Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
Total leased assets	[1]	$ 2,208	$ 2,258
Operating lease liabilities		419	426
Finance lease liabilities, Current		$ 4	$ 5
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]		Accounts payable and other current liabilities	Accounts payable and other current liabilities
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]		Accounts payable and other current liabilities	Accounts payable and other current liabilities
Non-current operating lease liabilities		$ 1,847	$ 1,899
Non-current finance lease liabilities		44	44
Total lease liabilities	[1]	$ 2,314	$ 2,374
[1] As of March 31, 2024, the decrease of right-of-use (“ROU”) assets was primarily due to the amortization of assets relating to existing leases with fixed lease payments, 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.

Leases - Summary of Lease Cost

Leases - Summary of Lease Cost (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Lease, Cost [Abstract]
Operating lease cost		$ 130	$ 132
Finance lease cost
Amortization of leased assets		1	1
Interest on lease liabilities		1	1
Variable lease cost	[1]	115	106
Short-term lease cost		3	4
Sub-lease income		(5)	(5)
Total lease cost		$ 245	$ 239
[1] During the quarter ended March 31, 2023, the Company was granted $ 8 million in lease concessions from landlords related to the effects of the COVID-19 pandemic. 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. The Company was no longer granted such lease concession beginning in 2024.

Leases - Summary of Lease Cos_2

Leases - Summary of Lease Cost (Parenthetical) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Schedule Of Lease Assets And Liabilities [Line Items]
Lease concessions from landlords related to the effects of COVID-19	$ 8

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$ 129	$ 137
Operating cash flows from finance leases		1	1
Financing cash flows from finance leases		1	1
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	[1]	81	46
Finance leases	[1]	$ 2	$ 0
[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 $ 73 million and $ 65 million for the quarters ended March 31, 2024 and 2023, respectively, as well as adjustments to lease liabilities or ROU assets due to modification or other reassessment events, which resulted in a $ 10 million increase and $ 19 million decrease in lease liabilities for the quarters ended March 31, 2024 and 2023, respectively.

Leases - Schedule of Suppleme_2

Leases - Schedule of Supplemental Cash Flow Information (Parenthetical) (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Schedule Of Lease Assets And Liabilities [Line Items]
Right-of-use assets non-cash transactions, operating leases	[1]	$ 81	$ 46
Non Cash Transactions [Member]
Schedule Of Lease Assets And Liabilities [Line Items]
Right-of-use assets non-cash transactions, operating leases		73	65
Modification or Other Reassessment Events [Member]
Schedule Of Lease Assets And Liabilities [Line Items]
Right-of-use assets non-cash transactions, operating leases		$ 10	$ 19
[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 $ 73 million and $ 65 million for the quarters ended March 31, 2024 and 2023, respectively, as well as adjustments to lease liabilities or ROU assets due to modification or other reassessment events, which resulted in a $ 10 million increase and $ 19 million decrease in lease liabilities for the quarters ended March 31, 2024 and 2023, respectively.

Leases - Schedule of Lease Term

Leases - Schedule of Lease Term and Discount Rate (Details)	Mar. 31, 2024	Mar. 31, 2023
Weighted-average remaining lease term (years)
Operating leases	7 years	7 years 1 month 6 days
Finance leases	10 years 10 months 24 days	11 years
Weighted-average discount rate
Operating leases	4.80%	5.10%
Finance leases	5%	5.10%

Leases - Summary of Maturities

Leases - Summary of Maturities of Lease Liabilities (Details) $ in Millions	Mar. 31, 2024 USD ($)
Amount of Operating Leases
Remainder of 2024	$ 399
2025	453
2026	406
2027	351
2028	285
Thereafter	784
Total undiscounted lease payment	2,678
Less: imputed interest	412	[1]
Present value of lease liabilities	2,266
Amount of Finance Leases
Remainder of 2024	5
2025	7
2026	6
2027	6
2028	6
Thereafter	33
Total undiscounted lease payment	63
Less: imputed interest	15	[1]
Present value of lease liabilities	48
Amount of Operating And Finance Leases, Total
Remainder of 2024	404
2025	460
2026	412
2027	357
2028	291
Thereafter	817
Total undiscounted lease payment	2,741
Less: imputed interest	427	[1]
Present value of lease liabilities	$ 2,314
[1] 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.

Fair Value Measurements and D_3

Fair Value Measurements and Disclosures - Narrative (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
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	$ 21,000,000
Restricted time deposits in long term investments and notes	$ 28,000,000	$ 28,000,000

Fair Value Measurements and D_4

Fair Value Measurements and Disclosures - Assets Measured on Recurring Basis or Disclosed at Fair Value (Details) - Recurring Fair Value Measurements [Member] - USD ($) $ in Millions		Mar. 31, 2024	Dec. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents, Fair Value Measurement or Disclosure		$ 227	$ 318
Investments, Fair Value Measurement or Disclosure		1,512	1,472
Long-term bank deposits and notes		907	1,265
Total assets, Fair Value Measurement or Disclosure		2,699	3,100
Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents, Fair Value Measurement or Disclosure		80	25
Investments, Fair Value Measurement or Disclosure			21
Total assets, Fair Value Measurement or Disclosure		133	91
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents, Fair Value Measurement or Disclosure		147	293
Investments, Fair Value Measurement or Disclosure		1,512	1,451
Long-term bank deposits and notes		907
Total assets, Fair Value Measurement or Disclosure		2,566	3,009
Time Deposits [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents, Fair Value Measurement or Disclosure		147	293
Investments, Fair Value Measurement or Disclosure		1,276	1,113
Long-term bank deposits and notes		540	903
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		147	293
Investments, Fair Value Measurement or Disclosure		1,276	1,113
Long-term bank deposits and notes		540	903
Money Market Funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents, Fair Value Measurement or Disclosure		80	11
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		80	11
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]		14
Investments, Fair Value Measurement or Disclosure	[1]	100	200
Long-term bank deposits and notes	[1]	367	362
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]		14
Fixed Income Debt Securities [Member] | Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, Fair Value Measurement or Disclosure	[1]	100	200
Long-term bank deposits and notes	[1]	367	362
Investment in Equity Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity investments: Investment in equity securities		53	45
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		53	45
Structured Deposits [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, Fair Value Measurement or Disclosure		136	138
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		$ 136	138
Variable Return Investments [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, Fair Value Measurement or Disclosure			21
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			$ 21
[1] Classified as held-to-maturity investments and measured at amortized cost.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income tax provision	$ 113	$ 125
Effective tax rate	26.90%	28.50%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	1 Months Ended	3 Months Ended
	Aug. 31, 2022	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Corporate alternative minimum tax rate	15%	15%

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details)	3 Months Ended
	Mar. 31, 2024 Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Revenues		$ 2,958	$ 2,917
Operating Profit		374	416
Unallocated other income, net		1	1
Interest income, net	[1]	38	38
Investment (gain) loss	[1]	8	(17)
Income Before Income Taxes and Equity in Net Earnings (Losses) from Equity Method Investments		420	437
Impairment Charges		4	4
Total Assets		11,295		$ 12,031
KFC [Member]
Segment Reporting Information [Line Items]
Impairment Charges	[2]	2	3
Pizza Hut [Member]
Segment Reporting Information [Line Items]
Impairment Charges	[2]	1	1
All Other Segments [Member]
Segment Reporting Information [Line Items]
Impairment Charges	[2]	1
Revenue From External Customers [Member]
Segment Reporting Information [Line Items]
Revenues			2,917
Corporate and Unallocated [Member]
Segment Reporting Information [Line Items]
Unallocated revenues from transactions with franchisees	[3]	72	63
Unallocated Other revenues		15	10
Unallocated expenses for transactions with franchisees	[3]	(72)	(63)
Unallocated Other operating costs and expenses		(14)	(8)
Unallocated and corporate G&A expenses		(42)	(56)
Total Assets	[4]	4,806		5,409
Operating Segments [Member] | KFC [Member]
Segment Reporting Information [Line Items]
Revenues		2,230	2,198
Operating Profit		372	420
Total Assets		5,265		5,371
Operating Segments [Member] | Pizza Hut [Member]
Segment Reporting Information [Line Items]
Revenues		595	597
Operating Profit		47	55
Total Assets		890		904
Operating Segments [Member] | All Other Segments [Member]
Segment Reporting Information [Line Items]
Revenues		203	202
Operating Profit		(5)	(6)
Total Assets		334		$ 347
Operating Segments [Member] | Corporate and Unallocated [Member]
Segment Reporting Information [Line Items]
Revenues	[1]	87	73
Operating Segments [Member] | Revenue From External Customers [Member] | KFC [Member]
Segment Reporting Information [Line Items]
Revenues		2,230	2,198
Operating Segments [Member] | Revenue From External Customers [Member] | Pizza Hut [Member]
Segment Reporting Information [Line Items]
Revenues		595	597
Operating Segments [Member] | Revenue From External Customers [Member] | All Other Segments [Member]
Segment Reporting Information [Line Items]
Revenues		46	49
Operating Segments [Member] | Revenue From External Customers [Member] | Corporate and Unallocated [Member]
Segment Reporting Information [Line Items]
Revenues	[1]	87	73
Operating Segments [Member] | Inter-Segment Revenue [Member] | All Other Segments [Member]
Segment Reporting Information [Line Items]
Revenues		157	153
Operating Segments [Member] | Inter-Segment Revenue [Member] | Corporate and Unallocated [Member]
Segment Reporting Information [Line Items]
Revenues	[1]		0
Elimination [Member]
Segment Reporting Information [Line Items]
Revenues		(157)	(153)
Combined [Member]
Segment Reporting Information [Line Items]
Revenues		3,115	3,070
Combined [Member] | Revenue From External Customers [Member]
Segment Reporting Information [Line Items]
Revenues		2,958	2,917
Combined [Member] | Inter-Segment Revenue [Member]
Segment Reporting Information [Line Items]
Revenues		$ 157	$ 153
[1] Amounts have not been allocated to any segment for performance reporting purposes. Primarily includes store closure impairment charges. 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. Primarily includes cash and cash equivalents, short-term investments, long-term bank deposits and notes, equity investments, and 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.

Contingencies - Narrative (Deta

Contingencies - Narrative (Details)	1 Months Ended
	Feb. 28, 2015
Commitments and Contingencies Disclosure [Abstract]
Income tax rate on gains derived from indirect transfer of assets	10%
Percentage of tax assessed on difference between fair market value and tax basis	10%

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] $ / shares in Units, $ in Millions	Apr. 29, 2024 USD ($) $ / shares
Subsequent Event [Line Items]
Dividends declared date	Apr. 29, 2024
Dividends payable, amount per share | $ / shares	$ 0.16
Dividends payable date	Jun. 18, 2024
Dividends payable, date of record	May 28, 2024
Estimated cash dividend payable | $	$ 63