v3.26.1
Fair Value Disclosures (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis The following table presents the carrying value and estimated fair value of the Company’s debt obligations:
6/30/202612/31/2025
Carrying ValueFair Value (Level 2)Carrying ValueFair Value (Level 2)
Securitization Notes(a)
$4,306 $4,157 $4,306 $4,160 
Subsidiary Senior Unsecured Notes(b)
750 751 750 753 
Term Loan A Facility(b)
488 486 494 492 
Term Loan B Facility(b)
1,421 1,430 1,429 1,440 
YUM Senior Unsecured Notes(b)
4,550 4,494 4,550 4,581 
(a)    We estimated the fair value of the Securitization Notes using market quotes and calculations. The markets in which the Securitization Notes trade are not considered active markets.

(b)    We estimated the fair value of the YUM and Subsidiary Senior Unsecured Notes, Term Loan A Facility and Term Loan B Facility using market quotes and calculations based on market rates.
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
Fair Value
Condensed Consolidated Balance SheetLevel6/30/202612/31/2025
Assets
Interest Rate SwapsPrepaid expenses and other current assets$$
Interest Rate SwapsOther assets— 
Liabilities
Interest Rate SwapsOther liabilities and deferred credits— (3)