RESTAURANT BRANDS INTERNATIONAL INC., 10-Q filed on 8/6/2026
Quarterly Report
v3.26.1
Cover - shares
 6 Months Ended
Jun. 30, 2026
Jul. 31, 2026
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2026  
Document Transition Report false  
Entity File Number 001-36786  
Registrant Name RESTAURANT BRANDS INTERNATIONAL INC.  
Entity Incorporation, State or Country Code Z4  
Entity Tax Identification Number 98-1202754  
Entity Address, Address Line One 5707 Waterford District Drive  
Entity Address, City or Town Miami,  
Entity Address, State or Province FL  
Entity Address, Postal Zip Code 33126  
City Area Code 305  
Local Phone Number 378-3000  
Title of 12(b) Security Common Shares, without par value  
Trading Symbol QSR  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Amendment Flag false  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q2  
Entity Central Index Key 0001618756  
Current Fiscal Year End Date --12-31  
Common Class A    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding   348,758,065
Partnerships Exchangeable Units    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding   105,750,828
v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 1,063 $ 1,163
Accounts and notes receivable, net of allowance of $43 and $54, respectively 800 794
Inventories, net 224 205
Prepaids and other current assets 256 179
Assets held for sale - discontinued operations 0 489
Total current assets 2,343 2,830
Property and equipment, net of accumulated depreciation and amortization of $1,299 and $1,245, respectively 2,230 2,303
Operating lease assets, net 1,964 1,961
Intangible assets, net 10,945 11,190
Goodwill 6,183 6,306
Other assets, net 1,357 1,025
Total assets 25,022 25,615
Current liabilities:    
Accounts and drafts payable 884 866
Other accrued liabilities 1,165 1,271
Gift card liability 183 249
Current portion of long-term debt and finance leases 82 68
Liabilities held for sale - discontinued operations 0 437
Total current liabilities 2,314 2,891
Long-term debt, net of current portion 13,206 13,250
Finance leases, net of current portion 243 261
Operating lease liabilities, net of current portion 1,908 1,900
Other liabilities, net 900 1,034
Deferred income taxes, net 1,056 1,120
Total liabilities 19,627 20,456
Shareholders’ equity:    
Common shares, no par value; Unlimited shares authorized at June 30, 2026 and December 31, 2025; 349,205,651 shares issued and outstanding at June 30, 2026; 346,323,165 shares issued and outstanding at December 31, 2025 2,870 2,859
Retained earnings 2,179 1,795
Accumulated other comprehensive income (loss) (1,199) (1,020)
Total Restaurant Brands International Inc. shareholders’ equity 3,850 3,634
Noncontrolling interests 1,545 1,525
Total shareholders’ equity 5,395 5,159
Total liabilities and shareholders’ equity $ 25,022 $ 25,615
v3.26.1
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
 6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Statement of Financial Position [Abstract]    
Financing receivable, allowance for credit loss, current $ 43 $ 54
Accumulated depreciation and amortization $ 1,299 $ 1,245
Common stock, par value (in usd per share) $ 0 $ 0
Common stock, shares authorized (in shares) Unlimited Unlimited
Common stock, shares issued (in shares) 349,205,651 346,323,165
Common stock, shares outstanding (in shares) 349,205,651 346,323,165
v3.26.1
Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Total revenues $ 2,520 $ 2,410 $ 4,784 $ 4,519
Operating costs and expenses:        
Franchise and property expenses 139 144 258 274
Advertising expenses and other services 369 364 710 675
General and administrative expenses 181 188 361 379
(Income) loss from equity method investments (2) (5) (4) (10)
Other operating expenses (income), net (26) 149 (47) 232
Total operating costs and expenses 1,804 1,927 3,462 3,601
Income from operations 716 483 1,322 918
Interest expense, net 124 132 247 262
Income from continuing operations before income taxes 592 351 1,075 656
Income tax (benefit) expense from continuing operations (73) 87 (35) 169
Net income from continuing operations 665 264 1,110 487
Net loss from discontinued operations (net of tax of $0) 0 1 0 3
Net income 665 263 1,110 484
Net income attributable to noncontrolling interests (Note 11) 158 74 265 136
Net income attributable to common shareholders $ 507 $ 189 $ 845 $ 348
Earnings per common share (Note 2)        
Basic net income per share from continuing operations (in usd per share) $ 1.46 $ 0.58 $ 2.43 $ 1.07
Basic net loss per share from discontinued operations (in usd per share) 0 0.00 0 (0.01)
Basic net income per share (in usd per share) 1.46 0.58 2.43 1.07
Diluted net income per share from continuing operations (in usd per share) 1.45 0.58 2.42 1.07
Diluted net loss per share from discontinued operations (in usd per share) 0 0.00 0 (0.01)
Diluted net income per share (in usd per share) $ 1.45 $ 0.57 $ 2.42 $ 1.06
Weighted average shares outstanding (in millions):        
Basic (in shares) 348 328 347 327
Diluted (in shares) 460 457 459 456
Supply chain sales        
Operating costs and expenses:        
Supply chain cost of sales and Company restaurant expenses $ 635 $ 589 $ 1,199 $ 1,085
Company restaurant sales        
Operating costs and expenses:        
Supply chain cost of sales and Company restaurant expenses 508 498 985 966
Supply chain sales and Company restaurant sales | Supply chain sales        
Revenues:        
Total revenues 788 732 1,474 1,343
Supply chain sales and Company restaurant sales | Company restaurant sales        
Revenues:        
Total revenues 617 600 1,176 1,158
Franchise and property revenues        
Revenues:        
Total revenues 793 760 1,515 1,423
Advertising revenues and other services        
Revenues:        
Total revenues $ 322 $ 318 $ 619 $ 595
v3.26.1
Condensed Consolidated Statements of Operations (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Statement [Abstract]        
Net loss from discontinued operations (net of tax) $ 0 $ 0 $ 0 $ 0
v3.26.1
Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Statement of Comprehensive Income [Abstract]        
Net income $ 665 $ 263 $ 1,110 $ 484
Foreign currency translation adjustment (209) 696 (373) 798
Net change in fair value of net investment hedges, net of tax of $(7), $3, $(4) and $(9) 33 (417) 137 (492)
Net change in fair value of cash flow hedges, net of tax of $(10), $4, $(18) and $15 27 (11) 50 (41)
Amounts reclassified to earnings of cash flow hedges, net of tax of $5, $7, $10 and $15 (14) (21) (28) (42)
Gain (loss) recognized on other, net of tax of $0, $0, $1 and $0 (1) 2 (5) 1
Other comprehensive income (loss) (164) 249 (219) 224
Comprehensive income (loss) 501 512 891 708
Comprehensive income (loss) attributable to noncontrolling interests 119 144 213 199
Comprehensive income (loss) attributable to common shareholders $ 382 $ 368 $ 678 $ 509
v3.26.1
Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Statement of Comprehensive Income [Abstract]        
Net change in fair value of net investment hedges, net of tax $ (7) $ 3 $ (4) $ (9)
Net change in fair value of cash flow hedges, net of tax (10) 4 (18) 15
Amounts reclassified to earnings of cash flow hedges, net of tax 5 7 10 15
Gain (loss) recognized on defined benefit pension plans and other items, net of tax $ 0 $ 0 $ 1 $ 0
v3.26.1
Condensed Consolidated Statements of Shareholders' Equity - USD ($)
$ in Millions
Total
Issued Common Shares
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interests
Beginning balances (in shares) at Dec. 31, 2024   324,426,589      
Beginning balances at Dec. 31, 2024 $ 4,843 $ 2,357 $ 1,860 $ (1,107) $ 1,733
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Stock option exercises (in shares)   221,007      
Stock option exercises 13 $ 13      
Share-based compensation 44 $ 44      
Issuance of shares (in shares)   2,926,103      
Issuance of shares 10 $ 10      
Dividends declared (203)   (203)    
Dividend equivalents declared on restricted stock units 0 $ 5 (5)    
Distributions declared by Partnership on Partnership exchangeable units (79)       (79)
Exchange of Partnership exchangeable units for RBI common shares (in shares)   55,462      
Exchange of Partnership exchangeable units for RBI common shares 0 $ 1     (1)
Net income 221   159   62
Other comprehensive income (loss) (25)     (18) (7)
Ending balances (in shares) at Mar. 31, 2025   327,629,161      
Ending balances at Mar. 31, 2025 4,824 $ 2,430 1,811 (1,125) 1,708
Beginning balances (in shares) at Dec. 31, 2024   324,426,589      
Beginning balances at Dec. 31, 2024 4,843 $ 2,357 1,860 (1,107) 1,733
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 484        
Other comprehensive income (loss) 224        
Ending balances (in shares) at Jun. 30, 2025   327,777,360      
Ending balances at Jun. 30, 2025 5,090 $ 2,469 1,794 (946) 1,773
Beginning balances (in shares) at Mar. 31, 2025   327,629,161      
Beginning balances at Mar. 31, 2025 4,824 $ 2,430 1,811 (1,125) 1,708
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Stock option exercises (in shares)   144,700      
Stock option exercises 7 $ 7      
Share-based compensation 29 $ 29      
Issuance of shares (in shares)   3,499      
Issuance of shares 0 $ 0      
Dividends declared (203)   (203)    
Dividend equivalents declared on restricted stock units 0 $ 3 (3)    
Distributions declared by Partnership on Partnership exchangeable units (79)       (79)
Net income 263   189   74
Other comprehensive income (loss) 249     179 70
Ending balances (in shares) at Jun. 30, 2025   327,777,360      
Ending balances at Jun. 30, 2025 $ 5,090 $ 2,469 1,794 (946) 1,773
Beginning balances (in shares) at Dec. 31, 2025 346,323,165 346,323,165      
Beginning balances at Dec. 31, 2025 $ 5,159 $ 2,859 1,795 (1,020) 1,525
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Stock option exercises (in shares)   485,617      
Stock option exercises 28 $ 28      
Share-based compensation 31 $ 31      
Issuance of shares (in shares)   954,481      
Issuance of shares 14 $ 14      
Dividends declared (226)   (226)    
Dividend equivalents declared on restricted stock units 0 $ 4 (4)    
Distributions declared by Partnership on Partnership exchangeable units (71)       (71)
Exchange of Partnership exchangeable units for RBI common shares (in shares)   3,624      
Exchange of Partnership exchangeable units for RBI common shares 0 $ 0     0
Repurchase of common shares (in shares)   (441,773)      
Repurchase of common shares (34) $ (34)      
Net income 445   338   107
Other comprehensive income (loss) (55)     (42) (13)
Ending balances (in shares) at Mar. 31, 2026   347,325,114      
Ending balances at Mar. 31, 2026 $ 5,291 $ 2,902 1,903 (1,062) 1,548
Beginning balances (in shares) at Dec. 31, 2025 346,323,165 346,323,165      
Beginning balances at Dec. 31, 2025 $ 5,159 $ 2,859 1,795 (1,020) 1,525
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 1,110        
Other comprehensive income (loss) $ (219)        
Ending balances (in shares) at Jun. 30, 2026 349,205,651 349,205,651      
Ending balances at Jun. 30, 2026 $ 5,395 $ 2,870 2,179 (1,199) 1,545
Beginning balances (in shares) at Mar. 31, 2026   347,325,114      
Beginning balances at Mar. 31, 2026 5,291 $ 2,902 1,903 (1,062) 1,548
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Stock option exercises (in shares)   106,000      
Stock option exercises 7 $ 7      
Share-based compensation 30 $ 30      
Issuance of shares (in shares)   4,043      
Dividends declared (227)   (227)    
Dividend equivalents declared on restricted stock units 0 $ 4 (4)    
Distributions declared by Partnership on Partnership exchangeable units (69)       (69)
Exchange of Partnership exchangeable units for RBI common shares (in shares)   3,599,548      
Exchange of Partnership exchangeable units for RBI common shares 0 $ 65   (12) (53)
Repurchase of common shares (in shares)   (1,829,054)      
Repurchase of common shares (138) $ (138)      
Net income 665   507   158
Other comprehensive income (loss) $ (164)     (125) (39)
Ending balances (in shares) at Jun. 30, 2026 349,205,651 349,205,651      
Ending balances at Jun. 30, 2026 $ 5,395 $ 2,870 $ 2,179 $ (1,199) $ 1,545
v3.26.1
Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares
 3 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Mar. 31, 2025
Statement of Stockholders' Equity [Abstract]        
Common stock, dividends declared (in usd per share) $ 0.65 $ 0.65 $ 0.62 $ 0.62
Dividend distributions declared (in usd per share) $ 0.65 $ 0.65 $ 0.62 $ 0.62
v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 1,110 $ 484
Net loss from discontinued operations 0 3
Net income from continuing operations 1,110 487
Depreciation and amortization 155 148
Amortization of deferred financing costs and debt issuance discount 12 13
(Income) loss from equity method investments (4) (10)
(Gain) loss on remeasurement of foreign denominated transactions (50) 207
Net (gains) losses on derivatives (82) (102)
Share-based compensation and non-cash incentive compensation expense 70 81
Deferred income taxes (215) 8
Other non-cash adjustments, net (7) 31
Changes in current assets and liabilities, excluding acquisitions and dispositions:    
Accounts and notes receivable (24) (72)
Inventories and prepaids and other current assets (35) (30)
Accounts and drafts payable 42 (6)
Other accrued liabilities and gift card liability (184) (155)
Tenant inducements paid to franchisees (18) (14)
Changes in other long-term assets and liabilities (13) (19)
Net cash provided by operating activities from continuing operations 757 567
Cash flows from investing activities:    
Payments for additions of property and equipment (109) (102)
Net proceeds from disposal of assets, restaurant closures, and refranchisings 33 12
Net payments for acquisition of franchised restaurants, net of cash acquired 0 (152)
Settlement/sale of derivatives, net 28 40
Other investing activities, net (12) 0
Net cash used for investing activities from continuing operations (60) (202)
Cash flows from financing activities:    
Repayments of long-term debt and finance leases (57) (66)
Payment of common share dividends and Partnership exchangeable unit distributions (579) (544)
Repurchase of common shares (170) 0
Proceeds from stock option exercises 35 20
Proceeds from derivatives 19 34
Other financing activities, net (1) 1
Net cash used for financing activities from continuing operations (753) (555)
Net cash used for discontinued operations (27) (85)
Effect of exchange rates on cash and cash equivalents (8) 19
(Decrease) increase in cash and cash equivalents, including cash classified as assets held for sale - discontinued operations (91) (256)
Increase in cash classified as assets held for sale - discontinued operations (9) (52)
(Decrease) increase in cash and cash equivalents (100) (308)
Cash and cash equivalents at beginning of period 1,163 1,334
Cash and cash equivalents at end of period 1,063 1,026
Supplemental cash flow disclosures:    
Interest paid 329 360
Income taxes paid, net 229 285
Accruals for additions of property and equipment $ 20 $ 22
v3.26.1
Description of Business and Organization
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business and Organization Description of Business and Organization
Restaurant Brands International Inc. (the “Company,” “RBI,” “we,” “us,” or “our”) is a Canadian corporation that serves as the sole general partner of Restaurant Brands International Limited Partnership (“Partnership”). We franchise and operate quick service restaurants serving premium coffee and other beverage and food products under the Tim Hortons® brand (“Tim Hortons”), fast food hamburgers principally under the Burger King® brand (“Burger King”), chicken under the Popeyes® brand (“Popeyes”), and sandwiches under the Firehouse Subs® brand (“Firehouse”). We are one of the world’s largest quick service restaurant, or QSR, companies as measured by total number of restaurants. As of June 30, 2026, we franchised or owned 6,209 Tim Hortons restaurants, 19,933 Burger King restaurants, 5,468 Popeyes restaurants, and 1,546 Firehouse Subs restaurants, for a total of 33,156 restaurants, and operate in more than 120 countries and territories. As of June 30, 2026, over 95% of current system-wide restaurants are franchised.
All references to “$” or “dollars” are to the currency of the United States unless otherwise indicated. All references to “Canadian dollars” or “C$” are to the currency of Canada unless otherwise indicated.
Basis of Presentation and Consolidation
We have prepared the accompanying unaudited condensed consolidated financial statements (the “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 accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements. Therefore, the Financial Statements should be read in conjunction with the audited consolidated financial statements contained in our Annual Report on Form 10-K filed with the SEC and Canadian securities regulatory authorities on February 20, 2026.
The Financial Statements include our accounts and the accounts of entities in which we have a controlling financial interest, the usual condition of which is ownership of a majority voting interest, including marketing funds we control. We also consider entities for consolidation when the controlling financial interest may be achieved through arrangements that do not involve voting interests (“VIE”). Investments in other affiliates that are owned 50% or less where we have significant influence are generally accounted for by the equity method. All material intercompany balances and transactions have been eliminated in consolidation.
We are the sole general partner of Partnership and, as such we have the exclusive right, power, and authority to manage, control, administer, and operate the business and affairs and to make decisions regarding the undertaking and business of Partnership, subject to the terms of the amended and restated limited partnership agreement of Partnership (the “partnership agreement”) and applicable laws. As a result, we consolidate the results of Partnership and record a noncontrolling interest in our condensed consolidated balance sheets and statements of operations with respect to the remaining economic interest in Partnership we do not hold.
In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation have been included in the Financial Statements. The results for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the full year.
The preparation of consolidated financial statements in conformity with U.S. GAAP and related rules and regulations of the SEC requires our management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses, and the related disclosure of contingent assets and liabilities. Actual results could differ from these estimates.
The carrying amounts for cash and cash equivalents, accounts and notes receivable, and accounts and drafts payable approximate fair value based on the short-term nature of these accounts.
New Accounting Pronouncements
Disaggregation of Income Statement Expenses – In November 2024, the FASB issued guidance that requires disclosure of disaggregated information about certain income statement expense line items. The guidance is effective for annual disclosures for fiscal years beginning after December 15, 2026, and subsequent interim periods with early adoption permitted, and requires retrospective application to all prior periods presented in the financial statements. We are currently evaluating the impact this new guidance will have on our disclosures upon adoption and expect to provide additional detail and disclosures under this new guidance.
Internal-Use Software - In September 2025, the FASB issued guidance to clarify and modernize the accounting for costs related to internal-use software and requires an entity to start capitalizing software costs when both of the following occur: (1) Management has authorized and committed to funding the software project; and (2) It is probable that the project will be completed and the software will be used to perform the function intended. The guidance is effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods in those years, with early adoption permitted. Entities may apply the new guidance using a prospective, retrospective, or modified transition approach. We are currently evaluating the impact this new guidance will have on our financial statements and disclosures.
Hedge Accounting Improvements - In November 2025, the FASB issued guidance that modifies aspects of the existing hedge accounting framework, including (1) permitting a group of forecasted transactions to be designated as a single cash flow hedge if the individual transactions have a ‘similar’ rather than ‘shared’ risk exposure, (2) providing an optional hedging model for cash flow hedges of forecasted interest payments on ‘choose-your-rate’ debt instruments, (3) expanding hedge accounting availability for non-financial forecasted transactions, (4) allowing net written options as hedging instruments under certain circumstances, and (5) addressing the use of foreign-currency-denominated debt instruments as both a hedging instrument and hedged item. The guidance is effective for annual periods beginning after December 15, 2026, and interim reporting periods in those years, with early adoption permitted. We are currently evaluating the impact this new guidance will have on our financial statements and disclosures.
v3.26.1
Earnings (Loss) per Share
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Earnings (Loss) per Share Earnings (Loss) per Share
An economic interest in Partnership common equity is held by the holders of Class B exchangeable limited partnership units (the “Partnership exchangeable units”), which is reflected as a noncontrolling interest in our equity. See Note 11, Shareholders’ Equity.
Basic and diluted earnings (loss) per share are computed using the weighted average number of shares outstanding for the period. We apply the treasury stock method to determine the dilutive weighted average common shares represented by outstanding equity awards, unless the effect of their inclusion is anti-dilutive. The diluted earnings (loss) per share calculation assumes conversion of 100% of the Partnership exchangeable units under the “if converted” method. Accordingly, the numerator is also adjusted to include the earnings (loss) allocated to the holders of noncontrolling interests.
The following table summarizes the basic and diluted earnings (loss) per share calculations (in millions, except per share amounts):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Numerator:
Net income from continuing operations attributable to common shareholders - basic$507 $190 $845 $350 
Add: Net income from continuing operations attributable to noncontrolling interests158 74 265 137 
Net income from continuing operations available to common shareholders and noncontrolling interests - diluted$665 $264 $1,110 $487 
Net loss from discontinued operations$— $1 $— $3 
Net income attributable to common shareholders - basic$507 $189 $845 $348 
Add: Net income attributable to noncontrolling interests158 74 265 136 
Net income available to common shareholders and noncontrolling interests - diluted$665 $263 $1,110 $484 
Denominator:
Weighted average common shares - basic348 328 347 327 
Exchange of noncontrolling interests for common shares (Note 11)108 127 109 127 
Effect of other dilutive securities4 2 3 2 
Weighted average common shares - diluted 460 457 459 456 
Basic net income per share from continuing operations (a)$1.46 $0.58 $2.43 $1.07 
Basic net loss per share from discontinued operations (a)$— $(0.00)$— $(0.01)
Basic net income per share (a)$1.46 $0.58 $2.43 $1.07 
Diluted net income per share from continuing operations (a)$1.45 $0.58 $2.42 $1.07 
Diluted net loss per share from discontinued operations (a)$— $(0.00)$— $(0.01)
Diluted net income per share (a)$1.45 $0.57 $2.42 $1.06 
Anti-dilutive securities outstanding— 5 — 5 
(a) Earnings (loss) per share may not recalculate exactly as it is calculated based on unrounded numbers.
v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
As stated in Note 1, Description of Business and Organization, we manage four brands: Tim Hortons, Burger King, Popeyes, and Firehouse Subs.
Our management structure and information regularly reviewed by our Chief Executive Officer, who is our Chief Operating Decision Maker (“CODM”), reflects six operating and reportable segments. The reportable segments consist of the following:
1.Tim Hortons – Operations of our Tim Hortons brand in Canada and the U.S. (“TH”);
2.Burger King – Operations of our Burger King brand in the U.S. and Canada, excluding results of Burger King restaurants acquired as part of our acquisition of Carrols Restaurant Group Inc. (the “Carrols Acquisition”) (“BK”);
3.Popeyes Louisiana Kitchen – Operations of our Popeyes brand in the U.S. and Canada (“PLK”);
4.Firehouse Subs – Operations of our Firehouse Subs brand in the U.S. and Canada (“FHS”);
5.International – Operations of each of our brands outside the U.S. and Canada, excluding results of restaurants acquired as part of our acquisition of Popeyes China (“PLK China”) (“PLK China Acquisition”) and Firehouse Subs Brazil (“FHS Brazil”) restaurants (“INTL”); and
6.Restaurant Holdings – Operations of Burger King restaurants acquired as part of the Carrols Acquisition and the operations of PLK China and FHS Brazil restaurants (“RH”).
Following the establishment of a joint venture with CPE Alder Investment Limited with respect to the operations of BK China (the “BK China JV”), during the first quarter of 2026, we resumed recognizing franchise revenue from the BK China JV within our INTL segment. We refer to the acquisition of BK China and the subsequent establishment of the BK China JV collectively as the “BK China Transactions.” See Note 5, BK China, for additional information.
Our measure of segment income is Adjusted Operating Income. Our chief operating decision maker uses Adjusted Operating Income (i) in the budgeting process and in periodic reviews of segment performance by comparing variances in actual segment income results to budget and (ii) during the annual budgeting process to make capital allocation decisions, including allocating resources to segments.
Adjusted Operating Income represents income from operations adjusted to exclude (i) franchise agreement and reacquired franchise right intangible asset amortization as a result of acquisition accounting, (ii) (income) loss from equity method investments, net of cash distributions received from equity method investments, (iii) other operating expenses (income), net, and (iv) expenses from non-recurring projects and non-operating activities. For the periods referenced, expenses from non-recurring projects and non-operating activities included (i) non-recurring fees and expenses, consisting primarily of professional fees, compensation-related expenses, and integration costs, incurred in connection with (a) the Carrols Acquisition, the PLK China Acquisition, and the BK China Transactions, and (b) the anticipated refranchising of restaurants held in the RH segment, primarily those acquired in the Carrols Acquisition, in connection with the planned sunset of the RH segment (“RH and BK China Transaction costs”); and (ii) non-operating costs from professional advisory and consulting services associated with certain transformational corporate restructuring initiatives that rationalize our structure and optimize cash movements as well as services related to significant tax reform legislation and regulations (“Corporate restructuring and advisory fees”).
The following tables present total segment revenues, significant segment expenses that are regularly reviewed by the CODM to manage and assess segment performance and segment income, as well as depreciation and amortization, (income) loss from equity method investments, and capital expenditures by segment (in millions). For the periods referenced, segment franchise and property expenses (“Segment F&P expenses”) for each segment exclude franchise agreement and reacquired franchise rights amortization and Segment G&A for each segment excludes RH and BK China Transaction costs, and Corporate restructuring and advisory fees. For segment reporting purposes, capital expenditures include payments for additions of property and equipment during the period, as well as the change in accruals for additions of property and equipment since the prior period. Totals in the following tables may not calculate exactly due to rounding.
Three Months Ended June 30, 2026
THBKPLKFHSINTLRHELIMTotal
Revenues from external customers$1,137 $342 $199 $62 $274 $506 $— $2,520 
Intersegment revenues (a)— 54 — — — — (55)— 
Total revenues$1,137 $397 $199 $62 $274 $506 $(55)$2,520 
Operating costs and expenses:
Supply chain cost of sales$635 $— $— $— $— $— $— $635 
Company restaurant expenses (b)9 39 41 10 — 435 (27)508 
Segment F&P expenses86 33 3 2 3 — (3)123 
Advertising expenses and other services90 156 74 21 24 27 (24)369 
Segment G&A34 31 18 12 52 27 — 175 
Adjustments:
Cash distributions received from equity method investments4 — — — — — — 4 
Adjusted Operating Income$287 $137 $63 $17 $194 $17 $— $715 
Additional segment information:
Depreciation and amortization$27 $12 $4 $1 $7 $26 $— $77 
(Income) loss from equity method investments$(4)$— $— $— $2 $— $— $(2)
Capital expenditures$9 $4 $4 $1 $2 $21 $— $42 
(a)Consists of BK and INTL royalties, property, advertising, and other services revenues from intersegment transactions with RH.
(b)The components of Company restaurant expenses for our RH segment are included below.
Six Months Ended June 30, 2026
THBKPLKFHSINTLRHELIMTotal
Revenues from external customers$2,134 $659 $389 $121 $527 $953 $— $4,784 
Intersegment revenues (a)— 102 — — 1 — (103)— 
Total revenues$2,134 $762 $389 $121 $528 $953 $(103)$4,784 
Operating costs and expenses:
Supply chain cost of sales$1,199 $— $— $— $— $— $— $1,199 
Company restaurant expenses (b)18 82 79 20 — 836 (51)985 
Segment F&P expenses168 66 6 4 (11)— (7)226 
Advertising expenses and other services172 297 148 42 46 50 (45)710 
Segment G&A68 64 36 25 103 51 — 347 
Adjustments:
Cash distributions received from equity method investments7 — — — — — — 7 
Adjusted Operating Income$516 $252 $119 $31 $390 $16 $— $1,324 
Additional segment information:
Depreciation and amortization$54 $24 $7 $3 $15 $53 $— $155 
(Income) loss from equity method investments$(7)$— $— $— $4 $— $— $(4)
Capital expenditures$14 $9 $7 $2 $5 $37 $— $75 
Three Months Ended June 30, 2025
THBKPLKFHSINTLRHELIMTotal
Revenues from external customers$1,083 $338 $210 $59 $250 $469 $— $2,410 
Intersegment revenues (a)— 49 — — — — (49)— 
Total revenues$1,083 $388 $210 $59 $250 $469 $(49)$2,410 
Operating costs and expenses:
Supply chain cost of sales$589 $— $— $— $— $— $— $589 
Company restaurant expenses (b)10 57 40 9 — 406 (23)498 
Segment F&P expenses83 33 6 2 9 — (4)128 
Advertising expenses and other services93 147 80 20 23 24 (22)364 
Segment G&A34 31 19 13 47 23 — 166 
Adjustments:
Cash distributions received from equity method investments4 — — — — — — 4 
Adjusted Operating Income$278 $121 $66 $15 $172 $16 $— $668 
Additional segment information:
Depreciation and amortization$28 $13 $4 $1 $7 $24 $— $77 
(Income) loss from equity method investments$(4)$— $— $— $(1)$— $— $(5)
Capital expenditures$9 $6 $2 $1 $4 $21 $— $42 
Six Months Ended June 30, 2025
THBKPLKFHSINTLRHELIMTotal
Revenues from external customers$1,987 $647 $404 $113 $468 $901 $— $4,519 
Intersegment revenues (a)— 97 — — — — (97)— 
Total revenues$1,987 $744 $404 $113 $468 $901 $(97)$4,519 
Operating costs and expenses:
Supply chain cost of sales$1,085 $— $— $— $— $— $— $1,085 
Company restaurant expenses (b)19 111 79 19 — 785 (47)966 
Segment F&P expenses161 64 8 3 14 — (8)242 
Advertising expenses and other services159 278 152 38 45 45 (42)675 
Segment G&A71 67 40 27 98 48 — 351 
Adjustments:
Cash distributions received from equity method investments7 — — — — — — 7 
Adjusted Operating Income$499 $224 $126 $26 $310 $23 $— $1,208 
Additional segment information:
Depreciation and amortization$55 $26 $7 $3 $14 $44 $— $148 
(Income) loss from equity method investments$(7)$— $— $— $(3)$— $— $(10)
Capital expenditures$13 $11 $3 $2 $6 $37 $— $73 
The following table presents the components of Company restaurant expenses for our RH segment (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Company restaurant expenses for RH segment
Food, beverage, and packaging costs$154 $134 $287 $255 
Restaurant wages and related expenses154 152 300 297 
Restaurant occupancy expense and other128 120 250 233 
             Total$435 $406 $836 $785 
The following tables present revenues by country (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Revenues by country (c):
     United States$1,197 $1,165 $2,296 $2,238 
     Canada1,037 992 1,939 1,807 
     Other286 253 549 474 
Total$2,520 $2,410 $4,784 $4,519 
(c)Only the United States and Canada represented 10% or more of our total revenues in each period presented.
Our CODM manages assets on a consolidated basis. Accordingly, segment assets are not reported to our CODM or used in his decisions to allocate resources or assess performance of the segments. Therefore, total segment assets and long-lived assets have not been disclosed.
Adjusted Operating Income is used by management to measure operating performance of the business, excluding these non-cash and other specifically identified items that management believes are not relevant to management’s assessment of our operating performance. A reconciliation of Income from operations to Adjusted Operating Income consists of the following (in millions):

Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Income from operations$716 $483 $1,322 $918 
Franchise agreement and reacquired franchise rights amortization16 17 32 33 
RH and BK China Transaction costs3 16 9 22 
Corporate restructuring and advisory fees2 5 4 6 
Impact of equity method investments (a)3 (1)4 (3)
Other operating expenses (income), net(26)149 (47)232 
Adjusted Operating Income $715 $668 $1,324 $1,208 
(a)Represents (i) (income) loss from equity method investments and (ii) cash distributions received from our equity method investments. Cash distributions received from our equity method investments are included in segment income.
v3.26.1
Revenue Recognition
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Contract Liabilities
Contract liabilities consist of deferred revenue resulting from initial and renewal franchise fees paid by franchisees, as well as upfront fees paid by master franchisees, which are generally recognized on a straight-line basis over the term of the underlying agreement. We may recognize unamortized franchise fees and upfront fees when a contract with a franchisee or master franchisee is modified and is accounted for as a termination of the existing contract. We classify these contract liabilities as Other liabilities, net in our condensed consolidated balance sheets. The following table reflects the change in contract liabilities on a consolidated basis between December 31, 2025 and June 30, 2026 (in millions):
Balance at December 31, 2025$517 
Recognized during period and included in the contract liability balance at the beginning of the year(31)
Increase, excluding amounts recognized as revenue during the period15 
Impact of foreign currency translation(5)
Balance at June 30, 2026$496 
The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) on a consolidated basis as of June 30, 2026 (in millions):
Remainder of 2026$27 
202751 
202848 
202946 
203043 
Thereafter281 
Total$496 
Disaggregation of Total Revenues
The following tables disaggregate revenue by segment (in millions). Totals in the following tables may not calculate exactly due to rounding.
Three Months Ended June 30, 2026
THBKPLKFHSINTLRHELIM (a)Total
Supply chain sales$788 $— $— $— $— $— $— $788 
Company restaurant sales11 44 46 12 — 505 — 617 
Royalties90 135 73 20 241 — (23)537 
Property revenues165 61 4 — — — (8)222 
Franchise fees and other revenue8 2 4 9 11 — — 34 
Advertising revenues and other services76 155 72 21 22 — (24)322 
Total revenues$1,137 $397 $199 $62 $274 $506 $(55)$2,520 
(a)Represents elimination of intersegment revenues that consists of royalties, property, and advertising and other services revenue recognized by BK and INTL from intersegment transactions with RH.
Six Months Ended June 30, 2026
THBKPLKFHSINTLRHELIM (a)Total
Supply chain sales$1,474 $— $— $— $— $— $— $1,474 
Company restaurant sales20 90 90 23 — 953 — 1,176 
Royalties167 255 142 40 464 — (43)1,025 
Property revenues311 117 7 — 1 — (15)420 
Franchise fees and other revenue17 5 7 18 24 — — 70 
Advertising revenues and other services145 295 143 40 40 — (45)619 
Total revenues$2,134 $762 $389 $121 $528 $953 $(103)$4,784 

Three Months Ended June 30, 2025
THBKPLKFHSINTLRHELIM (a)Total
Supply chain sales$732 $— $— $— $— $— $— $732 
Company restaurant sales12 61 46 11 — 469 — 600 
Royalties89 124 76 19 213 — (21)500 
Property revenues166 55 4 — — — (6)219 
Franchise fees and other revenue7 3 7 9 15 — — 41 
Advertising revenues and other services78 144 77 20 21 — (22)318 
Total revenues$1,083 $388 $210 $59 $250 $469 $(49)$2,410 

Six Months Ended June 30, 2025
THBKPLKFHSINTLRHELIM (a)Total
Supply chain sales$1,343 $— $— $— $— $— $— $1,343 
Company restaurant sales22 121 93 22 — 901 — 1,158 
Royalties162 238 148 37 400 — (40)945 
Property revenues303 107 7 — 1 — (15)404 
Franchise fees and other revenue15 5 9 17 27 — — 74 
Advertising revenues and other services142 273 147 36 40 — (42)595 
Total revenues$1,987 $744 $404 $113 $468 $901 $(97)$4,519 
v3.26.1
BK China
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
BK China BK China
On February 14, 2025, we acquired substantially all of the remaining equity interests in Pangaea Foods (China) Holdings Ltd. (“BK China”) for approximately $151 million in an all-cash transaction funded by cash on hand. Following the acquisition, we ceased accounting for our interest in BK China as an equity method investment and ceased recognition of franchise revenue. We determined the criteria for classification as held for sale were met on the acquisition date and presented the financial position and results of operations of BK China as discontinued operations in our consolidated financial statements beginning on the date of acquisition.
On January 30, 2026, we established the BK China JV with CPE Alder Investment Limited, a fund managed by CPE (“CPE”). As a result, we hold an approximately 17% equity interest in the BK China JV and hold a seat on its Board of Directors. Upon establishment of the joint venture, we deconsolidated BK China and began accounting for our interest in the BK China JV under the equity method of accounting (see Note 6, Equity Method Investments) and resumed recognizing franchise revenue from the BK China JV in our INTL segment.
Net cash provided by (used for) discontinued operations consists of the following (in millions):
Six Months Ended
June 30,
20262025
Cash flows from discontinued operations:
Net cash used for operating activities from discontinued operations$(9)$(53)
Net cash used for investing activities from discontinued operations(3)(2)
Net cash used for financing activities from discontinued operations(15)(30)
Net cash used for discontinued operations$(27)$(85)
v3.26.1
Equity Method Investments
 6 Months Ended
Jun. 30, 2026
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments Equity Method Investments
As discussed in Note 5, BK China, upon establishment of the BK China JV on January 30, 2026, we recorded an investment in the BK China JV of $66 million and we began accounting for our interest in the BK China JV under the equity method of accounting.
The aggregate carrying amounts of our equity method investments were $192 million and $111 million as of June 30, 2026 and December 31, 2025, respectively, and are included as a component of Other assets, net in our accompanying condensed consolidated balance sheets.
The aggregate market value of our 4.1% equity interest in TH International Limited (“Tims China”) based on the quoted market price on June 30, 2026 was approximately $3 million. No quoted market prices are available for our other equity method investments.
We have equity interests in entities that own or franchise Tim Hortons, Burger King, and Popeyes restaurants. Revenues recognized from franchisees that are owned or franchised by entities in which we have an equity interest, consist of the following (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Revenues from affiliates:
Royalties$94 $83 $181 $158 
Advertising revenues and other services3 1 6 3 
Property revenues— 1 — 1 
Franchise fees and other revenue3 4 6 7 
Supply chain sales4 4 8 8 
Total$104 $93 $201 $177 
At June 30, 2026 and December 31, 2025, we had $36 million and $41 million, respectively, of accounts receivable, net from our equity method investments which were recorded in Accounts and notes receivable, net in our condensed consolidated balance sheets.
With respect to our Tim Hortons business, the most significant equity method investment is our 50% joint venture interest with The Wendy’s Company (the “TIMWEN Partnership”), which jointly holds real estate underlying Canadian combination restaurants. Distributions received from this joint venture were $4 million during the three months ended June 30, 2026 and 2025, and $7 million during the six months ended June 30, 2026 and 2025.
Associated with the TIMWEN Partnership, we recognized $5 million and $6 million of rent expense during the three months ended June 30, 2026 and 2025, respectively, and we recognized $10 million of rent expense during the six months ended June 30, 2026 and 2025.
(Income) loss from equity method investments reflects our share of investee net income or loss as well as gains or losses from changes in our ownership interests in equity investees.
Tims China issued us convertible notes with an aggregate principal amount of $58 million due September 30, 2029, which are included within Other assets, net in the condensed consolidated balance sheets as of June 30, 2026. Subsequent to June 30, 2026, Tims China issued an incremental $16 million with terms consistent with existing outstanding convertible notes.
v3.26.1
Intangible Assets, net and Goodwill
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Intangible Assets, net and Goodwill Intangible Assets, net and Goodwill
Intangible assets, net and goodwill consist of the following (in millions):

As of
June 30, 2026December 31, 2025
GrossAccumulated AmortizationNetGrossAccumulated AmortizationNet
Identifiable assets subject to amortization:
   Franchise agreements$722 $(423)$299 $732 $(413)$319 
   Reacquired franchise rights362 (72)290 368 (56)312 
   Favorable leases62 (47)15 63 (46)17 
      Subtotal1,146 (542)604 1,163 (515)648 
Indefinite-lived intangible assets:
   Tim Hortons brand
$6,041 $— $6,041 $6,224 $— $6,224 
   Burger King brand
2,129 — 2,129 2,147 — 2,147 
   Popeyes brand
1,355 — 1,355 1,355 — 1,355 
   Firehouse Subs brand
816 — 816 816 — 816 
      Subtotal10,341 — 10,341 10,542 — 10,542 
Intangible assets, net$10,945 $11,190 
Goodwill:
TH segment$3,883 $3,995 
BK segment358 358 
PLK segment844 844 
FHS segment193 194 
INTL segment540 545 
RH segment365 370 
      Total$6,183 $6,306 
Amortization expense on intangible assets totaled $17 million and $18 million for the three months ended June 30, 2026 and 2025, respectively. Amortization expense on intangible assets totaled $34 million and $35 million for the six months ended June 30, 2026 and 2025, respectively. Additionally, the change in intangible asset and goodwill balances reflects the impact of foreign currency translation during the six months ended June 30, 2026.
v3.26.1
Other Accrued Liabilities and Other Liabilities, net
 6 Months Ended
Jun. 30, 2026
Other Liabilities Disclosure [Abstract]  
Other Accrued Liabilities and Other Liabilities, net Other Accrued Liabilities and Other Liabilities, net
Other accrued liabilities (current) and Other liabilities, net (noncurrent) consist of the following (in millions):
As of
June 30,
2026		December 31,
2025
Current:
Dividend payable$296 $283 
Interest payable69 69 
Accrued compensation and benefits121 155 
Taxes payable180 188 
Deferred income78 77 
Accrued advertising expenses39 44 
Restructuring and other provisions24 25 
Current portion of operating lease liabilities212 200 
Other146 230 
Other accrued liabilities$1,165 $1,271 
Noncurrent:
Taxes payable$83 $77 
Contract liabilities496 517 
Derivative liabilities175 290 
Unfavorable leases21 25 
Accrued pension24 23 
Deferred income46 45 
Other55 57 
Other liabilities, net$900 $1,034 
v3.26.1
Long-Term Debt
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Long-Term Debt Long-Term Debt
Long-term debt consists of the following (in millions):
As of
Maturity DateInterest Rate (a)June 30,
2026		December 31,
2025
Term Loan BSep 21, 20305.394 %$4,455 $4,479 
Term Loan ASep 21, 20284.644 %1,227 1,243 
First Lien Senior NotesJan 15, 20283.875 %1,550 1,550 
First Lien Senior NotesFeb 15, 20293.500 %750 750 
First Lien Senior NotesJun 15, 20296.125 %1,200 1,200 
First Lien Senior NotesSep 15, 20295.625 %500 500 
Second Lien Senior NotesJan 15, 20284.375 %750 750 
Second Lien Senior NotesOct 15, 20304.000 %2,900 2,900 
Less: unamortized deferred financing costs and deferred issuance discount(78)(90)
Total debt, net13,254 13,282 
    Less: current maturities of debt(48)(32)
Total long-term debt$13,206 $13,250 
(a)Represents the interest rate on Term Loan B and Term Loan A as of June 30, 2026.
Revolving Credit Facility
As of June 30, 2026, we had no amounts outstanding under our Revolving Credit Facility, had $2 million of letters of credit issued against the Revolving Credit Facility, and our borrowing availability under our Revolving Credit Facility was $1,248 million. Funds available under the Revolving Credit Facility may be used to repay other debt, finance debt or equity repurchases, fund acquisitions or capital expenditures, and for other general corporate purposes. We have a $125 million letter of credit sublimit as part of the Revolving Credit Facility, which reduces our borrowing availability thereunder by the cumulative amount of outstanding letters of credit.
Restrictions and Covenants
As of June 30, 2026, we were in compliance with all applicable financial debt covenants under our senior secured term loan A and B facilities and Revolving Credit Facility (together the “Credit Facilities”), and the indentures governing our 3.875% First Lien Senior Notes due 2028, 3.50% First Lien Senior Notes due 2029, 6.125% First Lien Senior Notes due 2029, 5.625% First Lien Senior Notes due 2029, 4.375% Second Lien Senior Notes due 2028, and 4.00% Second Lien Senior Notes due 2030 (together, the “Senior Notes”).
Fair Value Measurement
The following table presents the fair value of our variable rate term debt and senior notes, estimated using inputs based on bid and offer prices that are Level 2 inputs, and principal carrying amount (in millions):
As of
June 30,
2026		December 31,
2025
Fair value of our variable term debt and senior notes$13,139 $13,266 
Principal carrying amount of our variable term debt and senior notes13,332 13,372 
Interest Expense, net
Interest expense, net consists of the following (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Debt (a)$118 $127 $237 $254 
Finance lease obligations5 4 9 9 
Amortization of deferred financing costs and debt issuance discount6 7 12 13 
Interest income(5)(6)(11)(14)
    Interest expense, net$124 $132 $247 $262 
(a)Amount includes $19 million and $27 million benefit during the three months ended June 30, 2026 and 2025, respectively, and $39 million and $53 million benefit during the six months ended June 30, 2026 and 2025, respectively, related to our interest rate swaps. Amount includes $22 million benefit during the three months ended June 30, 2026 and 2025, and $44 million benefit during the six months ended June 30, 2026 and 2025, related to the quarterly net settlements of our cross-currency rate swaps and amortization of the Excluded Component as defined in Note 10, Derivative Instruments.
v3.26.1
Derivative Instruments
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments Derivative Instruments
Disclosures about Derivative Instruments and Hedging Activities
We enter into derivative instruments for risk management purposes, including derivatives designated as cash flow hedges and derivatives designated as net investment hedges. We use derivatives to manage our exposure to fluctuations in interest rates and currency exchange rates.
Interest Rate Swaps
At June 30, 2026, we had outstanding receive-variable, pay-fixed interest rate swaps with a total notional value of $3,500 million to hedge the variability in the interest payments on a portion of our senior secured term loan A & B facilities (the “Term Loan A” and together with the “Term Loan B,” the “Term Loan Facilities”), including any subsequent refinancing or replacement of the Term Loan Facilities, beginning August 31, 2021 through the termination date of October 31, 2028. Additionally, at June 30, 2026, we also had outstanding receive-variable, pay-fixed interest rate swaps with a total notional value of $500 million to hedge the variability in the interest payments on a portion of our Term Loan Facilities effective September 30, 2019 through the termination date of September 30, 2026. At inception, all of these interest rate swaps were designated as cash flow hedges for hedge accounting. The unrealized changes in market value are recorded in AOCI, net of tax, and reclassified into interest expense during the period in which the hedged forecasted transaction affects earnings.
At June 30, 2026, the net amount of pre-tax gains that we expect to be reclassified from AOCI into interest expense within the next 12 months is $79 million.
Cross-Currency Rate Swaps
To protect the value of our investments in our foreign operations against adverse changes in foreign currency exchange rates, we hedge a portion of our net investment in one or more of our foreign subsidiaries by using cross-currency rate swaps. At June 30, 2026, we had outstanding cross-currency rate swap contracts between the Canadian dollar and U.S. dollar and the euro and U.S. dollar that have been designated as net investment hedges of a portion of our equity in foreign operations in those currencies. The component of the gains and losses on our net investment in these designated foreign operations driven by changes in foreign exchange rates is economically partly offset by movements in the fair value of our cross-currency swap contracts. The fair value of the swaps is calculated each period with changes in fair value reported in AOCI, net of tax. Such amounts will remain in AOCI until the complete or substantially complete liquidation of our investment in the underlying foreign operations.
At June 30, 2026, we had outstanding cross-currency rate swaps from which we receive quarterly fixed-rate interest payments on the U.S. dollar notional value of $5,700 million to partially hedge the net investment in our Canadian subsidiaries, of which $700 million have a maturity of October 31, 2027, $1,950 million have a maturity of September 30, 2028, $1,400 million have a maturity of October 31, 2029 and $1,650 million have a maturity of October 31, 2030. These cross-currency swaps were designated and continue to be hedges and are accounted for as net investment hedges.
At June 30, 2026, we had outstanding cross-currency rate swap contracts designated as hedges between the euro and U.S. dollar from which we receive quarterly fixed-rate interest payments on the U.S. dollar aggregate amount of $2,750 million, of which $150 million have a maturity date of October 31, 2028, $1,200 million have a maturity date of November 30, 2028, and $1,400 million have a maturity date of October 31, 2029. These cross-currency rate swaps were designated and continue to be hedges and are accounted for as net investment hedges.
In June 2026, we de-designated, restructured, and re-designated $1,400 million of euro and U.S. dollar cross-currency rate swaps, extending the maturity date to October 31, 2029. The balances in AOCI associated with the de-designated cross-currency rate swaps will remain in AOCI and will only be reclassified into earnings upon the complete or substantially complete liquidation of our investment in the underlying foreign operations.
In connection with the cross-currency rate swaps hedging Canadian dollar and euro net investments, we utilize the spot method to exclude the interest component (the “Excluded Component”) from the accounting hedge without affecting net investment hedge accounting and amortize the Excluded Component over the life of the derivative instrument. The amortization of the Excluded Component is recognized in Interest expense, net in the condensed consolidated statements of operations. The change in fair value that is not related to the Excluded Component is recorded in AOCI and will be reclassified to earnings when the applicable foreign subsidiaries are sold or substantially liquidated.
Foreign Currency Exchange Contracts
We use foreign exchange derivative instruments to manage the impact of foreign exchange fluctuations on U.S. dollar purchases and payments, such as coffee purchases made by our Canadian Tim Hortons’ operations. At June 30, 2026, we had outstanding forward currency contracts to manage this risk in which we sell Canadian dollars and buy U.S. dollars with a notional value of $218 million with maturities to August 16, 2027. We have designated these instruments as cash flow hedges, and as such, the unrealized changes in market value of effective hedges are recorded in AOCI and are reclassified into earnings during the period in which the hedged forecasted transaction affects earnings.
Credit Risk
By entering into derivative contracts, we are exposed to counterparty credit risk. Counterparty credit risk is the failure of the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is in an asset position, the counterparty has a liability to us, which creates credit risk for us. We attempt to minimize this risk by selecting counterparties with investment grade credit ratings and regularly monitoring our market position with each counterparty.
Credit-Risk Related Contingent Features
Our derivative instruments do not contain any credit-risk related contingent features.
Quantitative Disclosures about Derivative Instruments and Fair Value Measurements
The following tables present the required quantitative disclosures for our derivative instruments, including their estimated fair values (all estimated using Level 2 inputs) and their location on our condensed consolidated balance sheets (in millions):
Gain or (Loss) Recognized in Other Comprehensive Income (Loss)
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Derivatives designated as cash flow hedges(1)
Interest rate swaps$33 $(17)$59 $(58)
Forward-currency contracts$4 $2 $9 $2 
Derivatives designated as net investment hedges
Cross-currency rate swaps$40 $(420)$141 $(483)
(1) We did not exclude any components from the cash flow hedge relationships presented in this table.
Location of Gain or (Loss) Reclassified from AOCI into EarningsGain or (Loss) Reclassified from
AOCI into Earnings
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Derivatives designated as cash flow hedges
Interest rate swapsInterest expense, net$19 $27 $39 $53 
Forward-currency contractsSupply chain cost of sales$— $1 $(1)$4 
Location of Gain or (Loss) Recognized in EarningsGain or (Loss) Recognized in Earnings
(Amount Excluded from Effectiveness Testing)
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Derivatives designated as net investment hedges
Cross-currency rate swapsInterest expense, net$22 $22 $44 $44 
Fair Value as of
June 30,
2026		December 31, 2025Balance Sheet Location
Assets:
Derivatives designated as cash flow hedges
Interest rate$96 $58 Other assets, net
Interest rate3 8 Prepaids and other current assets
Foreign currency8 — Prepaids and other current assets
Derivatives designated as net investment hedges
Foreign currency47 — Other assets, net
Derivatives not designated as hedging instruments
Foreign currency16 — Prepaids and other current assets
Total assets at fair value$170 $66 
Liabilities:
Derivatives designated as cash flow hedges
Foreign currency$— $3 Other accrued liabilities
Derivatives designated as net investment hedges
Foreign currency175 290 Other liabilities, net
Derivatives not designated as hedging instruments
Foreign currency16 — Other accrued liabilities
Total liabilities at fair value$191 $293 
v3.26.1
Shareholders' Equity
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity
Noncontrolling Interests
The holders of Partnership exchangeable units held an economic interest of approximately 23.2% and 24.0% in Partnership common equity through the ownership of 105,753,373 and 109,356,545 Partnership exchangeable units as of June 30, 2026 and December 31, 2025, respectively.
Pursuant to exchange notices received, Partnership exchanged 3,603,172 Partnership exchangeable units during the six months ended June 30, 2026. In accordance with the terms of the partnership agreement, Partnership satisfied the exchange notices by exchanging these Partnership exchangeable units for the same number of newly issued RBI common shares and each such Partnership exchangeable unit was cancelled concurrently with the exchange. The exchanges represented increases in our ownership interest in Partnership and were accounted for as equity transactions, with no gain or loss recorded in the accompanying condensed consolidated statements of operations.
Share Repurchases
On August 6, 2025, our Board of Directors approved a share repurchase program authorizing the repurchase of up to $1,000 million of our common shares from September 15, 2025 through September 30, 2027. For the three and six months ended June 30, 2026, we repurchased 1,821,167 and 2,284,609 of our common shares for $137 million and $171 million, respectively, excluding excise taxes. Of these repurchases, 13,782 common shares had not yet settled as of June 30, 2026 and therefore were not cancelled at that date. Repurchased shares are cancelled upon settlement. As of June 30, 2026, we had $829 million remaining under the share repurchase authorization.
Accumulated Other Comprehensive Income (Loss)
The following table displays the changes in the components of accumulated other comprehensive income (loss) (“AOCI”) (in millions):
DerivativesPensionsForeign Currency TranslationAccumulated Other Comprehensive Income (Loss)
Balance at December 31, 2025$358 $(18)$(1,360)$(1,020)
Foreign currency translation adjustment— — (373)(373)
Net change in fair value of derivatives, net of tax187 — — 187 
Amounts reclassified to earnings of cash flow hedges, net of tax(28)— — (28)
Gain (loss) recognized on other, net of tax— (5)— (5)
Amounts attributable to noncontrolling interests(33)1 72 40 
Balance at June 30, 2026$484 $(22)$(1,661)$(1,199)
v3.26.1
Leases
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases Leases
Property revenues consist primarily of lease income from operating leases and earned income on direct financing leases and sales-type leases with franchisees as follows (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Lease income - operating leases
Minimum lease payments$99 $90 $196 $177 
Variable lease payments121 127 221 224 
Amortization of favorable and unfavorable income lease contracts, net1 1 1 1 
Subtotal - lease income from operating leases221 218 418 402 
Earned income on direct financing and sales-type leases1 1 2 2 
Total property revenues$222 $219 $420 $404 
Leases Leases
Property revenues consist primarily of lease income from operating leases and earned income on direct financing leases and sales-type leases with franchisees as follows (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Lease income - operating leases
Minimum lease payments$99 $90 $196 $177 
Variable lease payments121 127 221 224 
Amortization of favorable and unfavorable income lease contracts, net1 1 1 1 
Subtotal - lease income from operating leases221 218 418 402 
Earned income on direct financing and sales-type leases1 1 2 2 
Total property revenues$222 $219 $420 $404 
Leases Leases
Property revenues consist primarily of lease income from operating leases and earned income on direct financing leases and sales-type leases with franchisees as follows (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Lease income - operating leases
Minimum lease payments$99 $90 $196 $177 
Variable lease payments121 127 221 224 
Amortization of favorable and unfavorable income lease contracts, net1 1 1 1 
Subtotal - lease income from operating leases221 218 418 402 
Earned income on direct financing and sales-type leases1 1 2 2 
Total property revenues$222 $219 $420 $404 
Leases Leases
Property revenues consist primarily of lease income from operating leases and earned income on direct financing leases and sales-type leases with franchisees as follows (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Lease income - operating leases
Minimum lease payments$99 $90 $196 $177 
Variable lease payments121 127 221 224 
Amortization of favorable and unfavorable income lease contracts, net1 1 1 1 
Subtotal - lease income from operating leases221 218 418 402 
Earned income on direct financing and sales-type leases1 1 2 2 
Total property revenues$222 $219 $420 $404 
v3.26.1
Income Taxes
 6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Our effective tax rate was (12.3)% and (3.2)% for the three and six months ended June 30, 2026, respectively. The effective tax rates during these periods were favorably impacted by the movements in net deferred taxes in connection with intra-group reorganizations.
Our effective tax rate was 24.8% and 25.8% for the three and six months ended June 30, 2025, respectively. The effective tax rates during these periods include the impact of the administrative guidance recently issued by the Organization for Economic Cooperation and Development (“OECD”), partially offset by the mix of income from multiple tax jurisdictions and internal financing arrangements.
v3.26.1
Other Operating Expenses (Income), net
 6 Months Ended
Jun. 30, 2026
Other Income and Expenses [Abstract]  
Other Operating Expenses (Income), net Other Operating Expenses (Income), net
Other operating expenses (income), net consists of the following (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Net losses (gains) on disposal of assets, restaurant closures and refranchisings$(1)$13 $(1)$15 
Litigation settlements (gains) and reserves, net1 1 5 4 
Net losses (gains) on foreign exchange(20)132 (50)207 
Other, net(6)3 (1)6 
     Other operating expenses (income), net$(26)$149 $(47)$232 
Net losses (gains) on disposal of assets, restaurant closures, and refranchisings represent long-lived asset impairments, losses (gains) from asset write-offs and sales of properties, and costs related to restaurant closures and refranchisings. Gains and losses recognized in the current period may reflect certain costs related to closures and refranchisings that occurred in previous periods.
Litigation settlements and reserves, net primarily reflect accruals, payments made, and proceeds received in connection with litigation and arbitration matters and other business disputes.
Net losses (gains) on foreign exchange consist of remeasurement of foreign denominated assets and liabilities, primarily related to intercompany financing. A substantial portion of this net foreign currency gain or loss relates to the measurement of U.S. dollar intercompany balances in foreign subsidiaries. This gain or loss primarily results from fluctuations in the exchange rate between the euro and U.S. dollar.
v3.26.1
Commitments and Contingencies
 6 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Litigation
We are involved in legal proceedings arising in the ordinary course of business relating to matters including, but not limited to, disputes with franchisees, suppliers, employees and customers, as well as disputes over our intellectual property.
Burger King Company, and various affiliates, including RBI, are defendants in a class action lawsuit brought by former Burger King employees in the U.S. District Court for the Southern District of Florida. The lawsuit alleges that the defendants violated Section 1 of the Sherman Act by incorporating an employee no-solicitation and no-hiring clause in the Burger King standard form franchise agreement. Each plaintiff seeks injunctive relief and damages for each member of the class. In March 2020, the court granted the defendants’ motion to dismiss for failure to state a claim, but in August 2022 the decision was reversed on appeal and remanded for further proceedings. In April 2025, the plaintiffs filed an amended complaint, and in May 2025, the defendants filed an answer. In March 2026, a court-ordered mediation between the parties resulted in an impasse. While we intend to vigorously defend against these claims, we are unable to predict the ultimate outcome of this case or estimate the range of possible loss, if any.
In October 2024, purported former shareholders of Carrols filed a complaint in the Delaware Court of Chancery against RBI and two individual directors of Carrols. The complaint arises from the Carrols Acquisition and alleges that RBI coerced Carrols into the transaction, that the two directors failed to disclose that their interest differed from the interests of other Carrols shareholders, and that the two directors were not independent from RBI. The complaint also includes claims for breach of fiduciary duty and unjust enrichment by RBI. The plaintiffs seek equitable relief, damages and fees and expenses. In July 2026, the parties reached an agreement-in-principle to settle the case, subject to final court approval.
v3.26.1
Supplier Finance Programs
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplier Finance Programs Supplier Finance Programs
Our TH business includes individually negotiated contracts with suppliers, which include payment terms that range up to 120 days. A global financial institution offers a voluntary supply chain finance (“SCF”) program to certain TH vendors, which provides suppliers that elect to participate with the ability to elect early payment, at a discount based on the payment terms and a rate based on RBI's credit rating, which may be beneficial to the vendor. Participation in the SCF program is at the sole discretion of the suppliers and the financial institution and we are not a party to the arrangements between the suppliers and the financial institution. Our obligations to suppliers are not affected by the suppliers’ decisions to participate in the SCF program and our payment terms remain the same based on the original supplier invoicing terms and conditions. No guarantees are provided by us or any of our subsidiaries in connection with the SCF Program.
Our confirmed outstanding obligations under the SCF program at June 30, 2026 and December 31, 2025 totaled $54 million and $38 million, respectively, and are classified as Accounts and drafts payable in our condensed consolidated balance sheets. All activity related to the obligations is classified as Supply chain cost of sales in our condensed consolidated statements of operations and presented within cash flows from operating activities in our condensed consolidated statements of cash flows.
v3.26.1
Subsequent Events
 6 Months Ended
Jun. 30, 2026
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Dividends
On July 7, 2026, we paid a cash dividend of $0.65 per common share to common shareholders of record on June 23, 2026. On such date, Partnership also made a distribution in respect of each Partnership exchangeable unit in the amount of $0.65 per exchangeable unit to holders of record on June 23, 2026.
Subsequent to June 30, 2026, our board of directors declared a cash dividend of $0.65 per common share, which will be paid on October 2, 2026 to common shareholders of record on September 18, 2026. Partnership will also make a distribution in respect of each Partnership exchangeable unit in the amount of $0.65 per Partnership exchangeable unit, and the record date and payment date for distributions on Partnership exchangeable units are the same as the record date and payment date set forth above.
Share Repurchases
Subsequent to June 30, 2026 through July 31, 2026, we repurchased 463,385 of our common shares for $35 million and as of July 31, 2026 had $794 million remaining under the share repurchase authorization.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Jun. 30, 2026
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
v3.26.1
Description of Business and Organization (Policies)
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
We have prepared the accompanying unaudited condensed consolidated financial statements (the “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 accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements. Therefore, the Financial Statements should be read in conjunction with the audited consolidated financial statements contained in our Annual Report on Form 10-K filed with the SEC and Canadian securities regulatory authorities on February 20, 2026.
The Financial Statements include our accounts and the accounts of entities in which we have a controlling financial interest, the usual condition of which is ownership of a majority voting interest, including marketing funds we control. We also consider entities for consolidation when the controlling financial interest may be achieved through arrangements that do not involve voting interests (“VIE”). Investments in other affiliates that are owned 50% or less where we have significant influence are generally accounted for by the equity method. All material intercompany balances and transactions have been eliminated in consolidation.
We are the sole general partner of Partnership and, as such we have the exclusive right, power, and authority to manage, control, administer, and operate the business and affairs and to make decisions regarding the undertaking and business of Partnership, subject to the terms of the amended and restated limited partnership agreement of Partnership (the “partnership agreement”) and applicable laws. As a result, we consolidate the results of Partnership and record a noncontrolling interest in our condensed consolidated balance sheets and statements of operations with respect to the remaining economic interest in Partnership we do not hold.
In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation have been included in the Financial Statements. The results for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the full year.
Consolidation
The preparation of consolidated financial statements in conformity with U.S. GAAP and related rules and regulations of the SEC requires our management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses, and the related disclosure of contingent assets and liabilities. Actual results could differ from these estimates.
The carrying amounts for cash and cash equivalents, accounts and notes receivable, and accounts and drafts payable approximate fair value based on the short-term nature of these accounts.
New Accounting Pronouncements
New Accounting Pronouncements
Disaggregation of Income Statement Expenses – In November 2024, the FASB issued guidance that requires disclosure of disaggregated information about certain income statement expense line items. The guidance is effective for annual disclosures for fiscal years beginning after December 15, 2026, and subsequent interim periods with early adoption permitted, and requires retrospective application to all prior periods presented in the financial statements. We are currently evaluating the impact this new guidance will have on our disclosures upon adoption and expect to provide additional detail and disclosures under this new guidance.
Internal-Use Software - In September 2025, the FASB issued guidance to clarify and modernize the accounting for costs related to internal-use software and requires an entity to start capitalizing software costs when both of the following occur: (1) Management has authorized and committed to funding the software project; and (2) It is probable that the project will be completed and the software will be used to perform the function intended. The guidance is effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods in those years, with early adoption permitted. Entities may apply the new guidance using a prospective, retrospective, or modified transition approach. We are currently evaluating the impact this new guidance will have on our financial statements and disclosures.
Hedge Accounting Improvements - In November 2025, the FASB issued guidance that modifies aspects of the existing hedge accounting framework, including (1) permitting a group of forecasted transactions to be designated as a single cash flow hedge if the individual transactions have a ‘similar’ rather than ‘shared’ risk exposure, (2) providing an optional hedging model for cash flow hedges of forecasted interest payments on ‘choose-your-rate’ debt instruments, (3) expanding hedge accounting availability for non-financial forecasted transactions, (4) allowing net written options as hedging instruments under certain circumstances, and (5) addressing the use of foreign-currency-denominated debt instruments as both a hedging instrument and hedged item. The guidance is effective for annual periods beginning after December 15, 2026, and interim reporting periods in those years, with early adoption permitted. We are currently evaluating the impact this new guidance will have on our financial statements and disclosures.
Earnings (Loss) per Share Earnings (Loss) per Share
An economic interest in Partnership common equity is held by the holders of Class B exchangeable limited partnership units (the “Partnership exchangeable units”), which is reflected as a noncontrolling interest in our equity. See Note 11, Shareholders’ Equity.
Basic and diluted earnings (loss) per share are computed using the weighted average number of shares outstanding for the period. We apply the treasury stock method to determine the dilutive weighted average common shares represented by outstanding equity awards, unless the effect of their inclusion is anti-dilutive. The diluted earnings (loss) per share calculation assumes conversion of 100% of the Partnership exchangeable units under the “if converted” method. Accordingly, the numerator is also adjusted to include the earnings (loss) allocated to the holders of noncontrolling interests.
Contract Liabilities
Contract Liabilities
Contract liabilities consist of deferred revenue resulting from initial and renewal franchise fees paid by franchisees, as well as upfront fees paid by master franchisees, which are generally recognized on a straight-line basis over the term of the underlying agreement. We may recognize unamortized franchise fees and upfront fees when a contract with a franchisee or master franchisee is modified and is accounted for as a termination of the existing contract. We classify these contract liabilities as Other liabilities, net in our condensed consolidated balance sheets
v3.26.1
Earnings (Loss) per Share (Tables)
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Share
The following table summarizes the basic and diluted earnings (loss) per share calculations (in millions, except per share amounts):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Numerator:
Net income from continuing operations attributable to common shareholders - basic$507 $190 $845 $350 
Add: Net income from continuing operations attributable to noncontrolling interests158 74 265 137 
Net income from continuing operations available to common shareholders and noncontrolling interests - diluted$665 $264 $1,110 $487 
Net loss from discontinued operations$— $1 $— $3 
Net income attributable to common shareholders - basic$507 $189 $845 $348 
Add: Net income attributable to noncontrolling interests158 74 265 136 
Net income available to common shareholders and noncontrolling interests - diluted$665 $263 $1,110 $484 
Denominator:
Weighted average common shares - basic348 328 347 327 
Exchange of noncontrolling interests for common shares (Note 11)108 127 109 127 
Effect of other dilutive securities4 2 3 2 
Weighted average common shares - diluted 460 457 459 456 
Basic net income per share from continuing operations (a)$1.46 $0.58 $2.43 $1.07 
Basic net loss per share from discontinued operations (a)$— $(0.00)$— $(0.01)
Basic net income per share (a)$1.46 $0.58 $2.43 $1.07 
Diluted net income per share from continuing operations (a)$1.45 $0.58 $2.42 $1.07 
Diluted net loss per share from discontinued operations (a)$— $(0.00)$— $(0.01)
Diluted net income per share (a)$1.45 $0.57 $2.42 $1.06 
Anti-dilutive securities outstanding— 5 — 5 
(a) Earnings (loss) per share may not recalculate exactly as it is calculated based on unrounded numbers.
v3.26.1
Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting Totals in the following tables may not calculate exactly due to rounding.
Three Months Ended June 30, 2026
THBKPLKFHSINTLRHELIMTotal
Revenues from external customers$1,137 $342 $199 $62 $274 $506 $— $2,520 
Intersegment revenues (a)— 54 — — — — (55)— 
Total revenues$1,137 $397 $199 $62 $274 $506 $(55)$2,520 
Operating costs and expenses:
Supply chain cost of sales$635 $— $— $— $— $— $— $635 
Company restaurant expenses (b)9 39 41 10 — 435 (27)508 
Segment F&P expenses86 33 3 2 3 — (3)123 
Advertising expenses and other services90 156 74 21 24 27 (24)369 
Segment G&A34 31 18 12 52 27 — 175 
Adjustments:
Cash distributions received from equity method investments4 — — — — — — 4 
Adjusted Operating Income$287 $137 $63 $17 $194 $17 $— $715 
Additional segment information:
Depreciation and amortization$27 $12 $4 $1 $7 $26 $— $77 
(Income) loss from equity method investments$(4)$— $— $— $2 $— $— $(2)
Capital expenditures$9 $4 $4 $1 $2 $21 $— $42 
(a)Consists of BK and INTL royalties, property, advertising, and other services revenues from intersegment transactions with RH.
(b)The components of Company restaurant expenses for our RH segment are included below.
Six Months Ended June 30, 2026
THBKPLKFHSINTLRHELIMTotal
Revenues from external customers$2,134 $659 $389 $121 $527 $953 $— $4,784 
Intersegment revenues (a)— 102 — — 1 — (103)— 
Total revenues$2,134 $762 $389 $121 $528 $953 $(103)$4,784 
Operating costs and expenses:
Supply chain cost of sales$1,199 $— $— $— $— $— $— $1,199 
Company restaurant expenses (b)18 82 79 20 — 836 (51)985 
Segment F&P expenses168 66 6 4 (11)— (7)226 
Advertising expenses and other services172 297 148 42 46 50 (45)710 
Segment G&A68 64 36 25 103 51 — 347 
Adjustments:
Cash distributions received from equity method investments7 — — — — — — 7 
Adjusted Operating Income$516 $252 $119 $31 $390 $16 $— $1,324 
Additional segment information:
Depreciation and amortization$54 $24 $7 $3 $15 $53 $— $155 
(Income) loss from equity method investments$(7)$— $— $— $4 $— $— $(4)
Capital expenditures$14 $9 $7 $2 $5 $37 $— $75 
Three Months Ended June 30, 2025
THBKPLKFHSINTLRHELIMTotal
Revenues from external customers$1,083 $338 $210 $59 $250 $469 $— $2,410 
Intersegment revenues (a)— 49 — — — — (49)— 
Total revenues$1,083 $388 $210 $59 $250 $469 $(49)$2,410 
Operating costs and expenses:
Supply chain cost of sales$589 $— $— $— $— $— $— $589 
Company restaurant expenses (b)10 57 40 9 — 406 (23)498 
Segment F&P expenses83 33 6 2 9 — (4)128 
Advertising expenses and other services93 147 80 20 23 24 (22)364 
Segment G&A34 31 19 13 47 23 — 166 
Adjustments:
Cash distributions received from equity method investments4 — — — — — — 4 
Adjusted Operating Income$278 $121 $66 $15 $172 $16 $— $668 
Additional segment information:
Depreciation and amortization$28 $13 $4 $1 $7 $24 $— $77 
(Income) loss from equity method investments$(4)$— $— $— $(1)$— $— $(5)
Capital expenditures$9 $6 $2 $1 $4 $21 $— $42 
Six Months Ended June 30, 2025
THBKPLKFHSINTLRHELIMTotal
Revenues from external customers$1,987 $647 $404 $113 $468 $901 $— $4,519 
Intersegment revenues (a)— 97 — — — — (97)— 
Total revenues$1,987 $744 $404 $113 $468 $901 $(97)$4,519 
Operating costs and expenses:
Supply chain cost of sales$1,085 $— $— $— $— $— $— $1,085 
Company restaurant expenses (b)19 111 79 19 — 785 (47)966 
Segment F&P expenses161 64 8 3 14 — (8)242 
Advertising expenses and other services159 278 152 38 45 45 (42)675 
Segment G&A71 67 40 27 98 48 — 351 
Adjustments:
Cash distributions received from equity method investments7 — — — — — — 7 
Adjusted Operating Income$499 $224 $126 $26 $310 $23 $— $1,208 
Additional segment information:
Depreciation and amortization$55 $26 $7 $3 $14 $44 $— $148 
(Income) loss from equity method investments$(7)$— $— $— $(3)$— $— $(10)
Capital expenditures$13 $11 $3 $2 $6 $37 $— $73 
The following table presents the components of Company restaurant expenses for our RH segment (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Company restaurant expenses for RH segment
Food, beverage, and packaging costs$154 $134 $287 $255 
Restaurant wages and related expenses154 152 300 297 
Restaurant occupancy expense and other128 120 250 233 
             Total$435 $406 $836 $785 
Schedule of Revenues by Country
The following tables present revenues by country (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Revenues by country (c):
     United States$1,197 $1,165 $2,296 $2,238 
     Canada1,037 992 1,939 1,807 
     Other286 253 549 474 
Total$2,520 $2,410 $4,784 $4,519 
(c)Only the United States and Canada represented 10% or more of our total revenues in each period presented.
Schedule of Reconciliation of Segment Income to Net Income A reconciliation of Income from operations to Adjusted Operating Income consists of the following (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Income from operations$716 $483 $1,322 $918 
Franchise agreement and reacquired franchise rights amortization16 17 32 33 
RH and BK China Transaction costs3 16 9 22 
Corporate restructuring and advisory fees2 5 4 6 
Impact of equity method investments (a)3 (1)4 (3)
Other operating expenses (income), net(26)149 (47)232 
Adjusted Operating Income $715 $668 $1,324 $1,208 
(a)Represents (i) (income) loss from equity method investments and (ii) cash distributions received from our equity method investments. Cash distributions received from our equity method investments are included in segment income.
v3.26.1
Revenue Recognition (Tables)
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Change in Contract Liabilities The following table reflects the change in contract liabilities on a consolidated basis between December 31, 2025 and June 30, 2026 (in millions):
Balance at December 31, 2025$517 
Recognized during period and included in the contract liability balance at the beginning of the year(31)
Increase, excluding amounts recognized as revenue during the period15 
Impact of foreign currency translation(5)
Balance at June 30, 2026$496 
Schedule of Estimated Revenues Expected to be Recognized
The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) on a consolidated basis as of June 30, 2026 (in millions):
Remainder of 2026$27 
202751 
202848 
202946 
203043 
Thereafter281 
Total$496 
Schedule of Disaggregation of Total Revenues
The following tables disaggregate revenue by segment (in millions). Totals in the following tables may not calculate exactly due to rounding.
Three Months Ended June 30, 2026
THBKPLKFHSINTLRHELIM (a)Total
Supply chain sales$788 $— $— $— $— $— $— $788 
Company restaurant sales11 44 46 12 — 505 — 617 
Royalties90 135 73 20 241 — (23)537 
Property revenues165 61 4 — — — (8)222 
Franchise fees and other revenue8 2 4 9 11 — — 34 
Advertising revenues and other services76 155 72 21 22 — (24)322 
Total revenues$1,137 $397 $199 $62 $274 $506 $(55)$2,520 
(a)Represents elimination of intersegment revenues that consists of royalties, property, and advertising and other services revenue recognized by BK and INTL from intersegment transactions with RH.
Six Months Ended June 30, 2026
THBKPLKFHSINTLRHELIM (a)Total
Supply chain sales$1,474 $— $— $— $— $— $— $1,474 
Company restaurant sales20 90 90 23 — 953 — 1,176 
Royalties167 255 142 40 464 — (43)1,025 
Property revenues311 117 7 — 1 — (15)420 
Franchise fees and other revenue17 5 7 18 24 — — 70 
Advertising revenues and other services145 295 143 40 40 — (45)619 
Total revenues$2,134 $762 $389 $121 $528 $953 $(103)$4,784 

Three Months Ended June 30, 2025
THBKPLKFHSINTLRHELIM (a)Total
Supply chain sales$732 $— $— $— $— $— $— $732 
Company restaurant sales12 61 46 11 — 469 — 600 
Royalties89 124 76 19 213 — (21)500 
Property revenues166 55 4 — — — (6)219 
Franchise fees and other revenue7 3 7 9 15 — — 41 
Advertising revenues and other services78 144 77 20 21 — (22)318 
Total revenues$1,083 $388 $210 $59 $250 $469 $(49)$2,410 

Six Months Ended June 30, 2025
THBKPLKFHSINTLRHELIM (a)Total
Supply chain sales$1,343 $— $— $— $— $— $— $1,343 
Company restaurant sales22 121 93 22 — 901 — 1,158 
Royalties162 238 148 37 400 — (40)945 
Property revenues303 107 7 — 1 — (15)404 
Franchise fees and other revenue15 5 9 17 27 — — 74 
Advertising revenues and other services142 273 147 36 40 — (42)595 
Total revenues$1,987 $744 $404 $113 $468 $901 $(97)$4,519 
v3.26.1
BK China (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Net Cash Provided By (Used For) Discontinued Operations
Net cash provided by (used for) discontinued operations consists of the following (in millions):
Six Months Ended
June 30,
20262025
Cash flows from discontinued operations:
Net cash used for operating activities from discontinued operations$(9)$(53)
Net cash used for investing activities from discontinued operations(3)(2)
Net cash used for financing activities from discontinued operations(15)(30)
Net cash used for discontinued operations$(27)$(85)
v3.26.1
Equity Method Investments (Tables)
 6 Months Ended
Jun. 30, 2026
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Franchisees and Property Revenues
We have equity interests in entities that own or franchise Tim Hortons, Burger King, and Popeyes restaurants. Revenues recognized from franchisees that are owned or franchised by entities in which we have an equity interest, consist of the following (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Revenues from affiliates:
Royalties$94 $83 $181 $158 
Advertising revenues and other services3 1 6 3 
Property revenues— 1 — 1 
Franchise fees and other revenue3 4 6 7 
Supply chain sales4 4 8 8 
Total$104 $93 $201 $177 
v3.26.1
Intangible Assets, net and Goodwill (Tables)
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Schedule of Intangible Assets, Net and Goodwill
Intangible assets, net and goodwill consist of the following (in millions):

As of
June 30, 2026December 31, 2025
GrossAccumulated AmortizationNetGrossAccumulated AmortizationNet
Identifiable assets subject to amortization:
   Franchise agreements$722 $(423)$299 $732 $(413)$319 
   Reacquired franchise rights362 (72)290 368 (56)312 
   Favorable leases62 (47)15 63 (46)17 
      Subtotal1,146 (542)604 1,163 (515)648 
Indefinite-lived intangible assets:
   Tim Hortons brand
$6,041 $— $6,041 $6,224 $— $6,224 
   Burger King brand
2,129 — 2,129 2,147 — 2,147 
   Popeyes brand
1,355 — 1,355 1,355 — 1,355 
   Firehouse Subs brand
816 — 816 816 — 816 
      Subtotal10,341 — 10,341 10,542 — 10,542 
Intangible assets, net$10,945 $11,190 
Goodwill:
TH segment$3,883 $3,995 
BK segment358 358 
PLK segment844 844 
FHS segment193 194 
INTL segment540 545 
RH segment365 370 
      Total$6,183 $6,306 
v3.26.1
Other Accrued Liabilities and Other Liabilities, net (Tables)
 6 Months Ended
Jun. 30, 2026
Other Liabilities Disclosure [Abstract]  
Schedule of Other Accrued Liabilities (Current) and Other Liabilities, Net (Non-Current)
Other accrued liabilities (current) and Other liabilities, net (noncurrent) consist of the following (in millions):
As of
June 30,
2026		December 31,
2025
Current:
Dividend payable$296 $283 
Interest payable69 69 
Accrued compensation and benefits121 155 
Taxes payable180 188 
Deferred income78 77 
Accrued advertising expenses39 44 
Restructuring and other provisions24 25 
Current portion of operating lease liabilities212 200 
Other146 230 
Other accrued liabilities$1,165 $1,271 
Noncurrent:
Taxes payable$83 $77 
Contract liabilities496 517 
Derivative liabilities175 290 
Unfavorable leases21 25 
Accrued pension24 23 
Deferred income46 45 
Other55 57 
Other liabilities, net$900 $1,034 
v3.26.1
Long-Term Debt (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
Long-term debt consists of the following (in millions):
As of
Maturity DateInterest Rate (a)June 30,
2026		December 31,
2025
Term Loan BSep 21, 20305.394 %$4,455 $4,479 
Term Loan ASep 21, 20284.644 %1,227 1,243 
First Lien Senior NotesJan 15, 20283.875 %1,550 1,550 
First Lien Senior NotesFeb 15, 20293.500 %750 750 
First Lien Senior NotesJun 15, 20296.125 %1,200 1,200 
First Lien Senior NotesSep 15, 20295.625 %500 500 
Second Lien Senior NotesJan 15, 20284.375 %750 750 
Second Lien Senior NotesOct 15, 20304.000 %2,900 2,900 
Less: unamortized deferred financing costs and deferred issuance discount(78)(90)
Total debt, net13,254 13,282 
    Less: current maturities of debt(48)(32)
Total long-term debt$13,206 $13,250 
(a)Represents the interest rate on Term Loan B and Term Loan A as of June 30, 2026.
Schedule of Fair Value Measurement
The following table presents the fair value of our variable rate term debt and senior notes, estimated using inputs based on bid and offer prices that are Level 2 inputs, and principal carrying amount (in millions):
As of
June 30,
2026		December 31,
2025
Fair value of our variable term debt and senior notes$13,139 $13,266 
Principal carrying amount of our variable term debt and senior notes13,332 13,372 
Schedule of Interest Expense, Net
Interest expense, net consists of the following (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Debt (a)$118 $127 $237 $254 
Finance lease obligations5 4 9 9 
Amortization of deferred financing costs and debt issuance discount6 7 12 13 
Interest income(5)(6)(11)(14)
    Interest expense, net$124 $132 $247 $262 
(a)Amount includes $19 million and $27 million benefit during the three months ended June 30, 2026 and 2025, respectively, and $39 million and $53 million benefit during the six months ended June 30, 2026 and 2025, respectively, related to our interest rate swaps. Amount includes $22 million benefit during the three months ended June 30, 2026 and 2025, and $44 million benefit during the six months ended June 30, 2026 and 2025, related to the quarterly net settlements of our cross-currency rate swaps and amortization of the Excluded Component as defined in Note 10, Derivative Instruments.
v3.26.1
Derivative Instruments (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Quantitative Disclosures of Derivative Instruments
The following tables present the required quantitative disclosures for our derivative instruments, including their estimated fair values (all estimated using Level 2 inputs) and their location on our condensed consolidated balance sheets (in millions):
Gain or (Loss) Recognized in Other Comprehensive Income (Loss)
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Derivatives designated as cash flow hedges(1)
Interest rate swaps$33 $(17)$59 $(58)
Forward-currency contracts$4 $2 $9 $2 
Derivatives designated as net investment hedges
Cross-currency rate swaps$40 $(420)$141 $(483)
(1) We did not exclude any components from the cash flow hedge relationships presented in this table.
Location of Gain or (Loss) Reclassified from AOCI into EarningsGain or (Loss) Reclassified from
AOCI into Earnings
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Derivatives designated as cash flow hedges
Interest rate swapsInterest expense, net$19 $27 $39 $53 
Forward-currency contractsSupply chain cost of sales$— $1 $(1)$4 
Location of Gain or (Loss) Recognized in EarningsGain or (Loss) Recognized in Earnings
(Amount Excluded from Effectiveness Testing)
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Derivatives designated as net investment hedges
Cross-currency rate swapsInterest expense, net$22 $22 $44 $44 
Schedule of Fair Value Measurements
Fair Value as of
June 30,
2026		December 31, 2025Balance Sheet Location
Assets:
Derivatives designated as cash flow hedges
Interest rate$96 $58 Other assets, net
Interest rate3 8 Prepaids and other current assets
Foreign currency8 — Prepaids and other current assets
Derivatives designated as net investment hedges
Foreign currency47 — Other assets, net
Derivatives not designated as hedging instruments
Foreign currency16 — Prepaids and other current assets
Total assets at fair value$170 $66 
Liabilities:
Derivatives designated as cash flow hedges
Foreign currency$— $3 Other accrued liabilities
Derivatives designated as net investment hedges
Foreign currency175 290 Other liabilities, net
Derivatives not designated as hedging instruments
Foreign currency16 — Other accrued liabilities
Total liabilities at fair value$191 $293 
v3.26.1
Shareholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table displays the changes in the components of accumulated other comprehensive income (loss) (“AOCI”) (in millions):
DerivativesPensionsForeign Currency TranslationAccumulated Other Comprehensive Income (Loss)
Balance at December 31, 2025$358 $(18)$(1,360)$(1,020)
Foreign currency translation adjustment— — (373)(373)
Net change in fair value of derivatives, net of tax187 — — 187 
Amounts reclassified to earnings of cash flow hedges, net of tax(28)— — (28)
Gain (loss) recognized on other, net of tax— (5)— (5)
Amounts attributable to noncontrolling interests(33)1 72 40 
Balance at June 30, 2026$484 $(22)$(1,661)$(1,199)
v3.26.1
Leases (Tables)
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Schedule of Property Revenues
Property revenues consist primarily of lease income from operating leases and earned income on direct financing leases and sales-type leases with franchisees as follows (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Lease income - operating leases
Minimum lease payments$99 $90 $196 $177 
Variable lease payments121 127 221 224 
Amortization of favorable and unfavorable income lease contracts, net1 1 1 1 
Subtotal - lease income from operating leases221 218 418 402 
Earned income on direct financing and sales-type leases1 1 2 2 
Total property revenues$222 $219 $420 $404 
v3.26.1
Other Operating Expenses (Income), net (Tables)
 6 Months Ended
Jun. 30, 2026
Other Income and Expenses [Abstract]  
Schedule of Other Operating Expenses (Income), net
Other operating expenses (income), net consists of the following (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Net losses (gains) on disposal of assets, restaurant closures and refranchisings$(1)$13 $(1)$15 
Litigation settlements (gains) and reserves, net1 1 5 4 
Net losses (gains) on foreign exchange(20)132 (50)207 
Other, net(6)3 (1)6 
     Other operating expenses (income), net$(26)$149 $(47)$232 
v3.26.1
Description of Business and Organization (Details)
Jun. 30, 2026
restaurant
country
Basis Of Presentation [Line Items]  
Number of restaurants in operation 33,156
Number of countries in which company and franchise restaurants operated (more than) | country 120
Percent of system-wide restaurants franchised 95.00%
Tim Hortons brand  
Basis Of Presentation [Line Items]  
Number of restaurants in operation 6,209
Burger King brand  
Basis Of Presentation [Line Items]  
Number of restaurants in operation 19,933
Popeyes brand  
Basis Of Presentation [Line Items]  
Number of restaurants in operation 5,468
Firehouse Subs  
Basis Of Presentation [Line Items]  
Number of restaurants in operation 1,546
v3.26.1
Earnings (Loss) per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Earnings Per Share [Abstract]        
Assumed conversion of convertible securities, percent 100.00%   100.00%  
Numerator:        
Net income from continuing operations attributable to common shareholders - basic $ 507 $ 190 $ 845 $ 350
Add: Net income from continuing operations attributable to noncontrolling interests 158 74 265 137
Net income from continuing operations available to common shareholders and noncontrolling interests - diluted 665 264 1,110 487
Net loss from discontinued operations 0 1 0 3
Net income attributable to common shareholders - basic 507 189 845 348
Add: Net income attributable to noncontrolling interests 158 74 265 136
Net income available to common shareholders and noncontrolling interests - diluted $ 665 $ 263 $ 1,110 $ 484
Denominator:        
Weighted average common shares - basic (in shares) 348 328 347 327
Exchange of noncontrolling interests for common shares (in shares) 108 127 109 127
Effect of other dilutive securities (in shares) 4 2 3 2
Weighted average common shares - diluted (in shares) 460 457 459 456
Basic net income per share from continuing operations (in usd per share) $ 1.46 $ 0.58 $ 2.43 $ 1.07
Basic net loss per share from discontinued operations (in usd per share) 0 0.00 0 (0.01)
Basic net income per share (in usd per share) 1.46 0.58 2.43 1.07
Diluted net income per share from continuing operations (in usd per share) 1.45 0.58 2.42 1.07
Diluted net loss per share from discontinued operations (in usd per share) 0 0.00 0 (0.01)
Diluted net income per share (in usd per share) $ 1.45 $ 0.57 $ 2.42 $ 1.06
Anti-dilutive securities outstanding (in shares) 0 5 0 5
v3.26.1
Segment Reporting - Additional Information (Details)
 6 Months Ended
Jun. 30, 2026
segment
brand
Segment Reporting [Abstract]  
Number of brands | brand 4
Number of operating segments 6
Number of reportable segments 6
v3.26.1
Segment Reporting - Schedule of Segment Reporting (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues $ 2,520 $ 2,410 $ 4,784 $ 4,519
Segment F&P expenses 123 128 226 242
Advertising expenses and other services 369 364 710 675
Segment G&A 175 166 347 351
Cash distributions received from equity method investments 4 4 7 7
Adjusted Operating Income 715 668 1,324 1,208
Depreciation and amortization 77 77 155 148
(Income) loss from equity method investments (2) (5) (4) (10)
Capital expenditures 42 42 75 73
Supply chain sales        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Supply chain cost of sales and Company restaurant expenses 635 589 1,199 1,085
Company restaurant sales        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Supply chain cost of sales and Company restaurant expenses 508 498 985 966
TH        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues 1,137 1,083 2,134 1,987
Burger King brand        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues 342 338 659 647
Popeyes brand        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues 199 210 389 404
FHS        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues 62 59 121 113
INTL        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues 274 250 527 468
RH        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues 506 469 953 901
Operating Segments | TH        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues 1,137 1,083 2,134 1,987
Segment F&P expenses 86 83 168 161
Advertising expenses and other services 90 93 172 159
Segment G&A 34 34 68 71
Cash distributions received from equity method investments 4 4 7 7
Adjusted Operating Income 287 278 516 499
Depreciation and amortization 27 28 54 55
(Income) loss from equity method investments (4) (4) (7) (7)
Capital expenditures 9 9 14 13
Operating Segments | TH | Supply chain sales        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Supply chain cost of sales and Company restaurant expenses 635 589 1,199 1,085
Operating Segments | TH | Company restaurant sales        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Supply chain cost of sales and Company restaurant expenses 9 10 18 19
Operating Segments | Burger King brand        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues 397 388 762 744
Segment F&P expenses 33 33 66 64
Advertising expenses and other services 156 147 297 278
Segment G&A 31 31 64 67
Cash distributions received from equity method investments 0 0 0 0
Adjusted Operating Income 137 121 252 224
Depreciation and amortization 12 13 24 26
(Income) loss from equity method investments 0 0 0 0
Capital expenditures 4 6 9 11
Operating Segments | Burger King brand | Supply chain sales        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Supply chain cost of sales and Company restaurant expenses 0 0 0 0
Operating Segments | Burger King brand | Company restaurant sales        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Supply chain cost of sales and Company restaurant expenses 39 57 82 111
Operating Segments | Popeyes brand        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues 199 210 389 404
Segment F&P expenses 3 6 6 8
Advertising expenses and other services 74 80 148 152
Segment G&A 18 19 36 40
Cash distributions received from equity method investments 0 0 0 0
Adjusted Operating Income 63 66 119 126
Depreciation and amortization 4 4 7 7
(Income) loss from equity method investments 0 0 0 0
Capital expenditures 4 2 7 3
Operating Segments | Popeyes brand | Supply chain sales        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Supply chain cost of sales and Company restaurant expenses 0 0 0 0
Operating Segments | Popeyes brand | Company restaurant sales        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Supply chain cost of sales and Company restaurant expenses 41 40 79 79
Operating Segments | FHS        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues 62 59 121 113
Segment F&P expenses 2 2 4 3
Advertising expenses and other services 21 20 42 38
Segment G&A 12 13 25 27
Cash distributions received from equity method investments 0 0 0 0
Adjusted Operating Income 17 15 31 26
Depreciation and amortization 1 1 3 3
(Income) loss from equity method investments 0 0 0 0
Capital expenditures 1 1 2 2
Operating Segments | FHS | Supply chain sales        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Supply chain cost of sales and Company restaurant expenses 0 0 0 0
Operating Segments | FHS | Company restaurant sales        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Supply chain cost of sales and Company restaurant expenses 10 9 20 19
Operating Segments | INTL        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues 274 250 528 468
Segment F&P expenses 3 9 (11) 14
Advertising expenses and other services 24 23 46 45
Segment G&A 52 47 103 98
Cash distributions received from equity method investments 0 0 0 0
Adjusted Operating Income 194 172 390 310
Depreciation and amortization 7 7 15 14
(Income) loss from equity method investments 2 (1) 4 (3)
Capital expenditures 2 4 5 6
Operating Segments | INTL | Supply chain sales        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Supply chain cost of sales and Company restaurant expenses 0 0 0 0
Operating Segments | INTL | Company restaurant sales        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Supply chain cost of sales and Company restaurant expenses 0 0 0 0
Operating Segments | RH        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues 506 469 953 901
Segment F&P expenses 0 0 0 0
Advertising expenses and other services 27 24 50 45
Segment G&A 27 23 51 48
Cash distributions received from equity method investments 0 0 0 0
Adjusted Operating Income 17 16 16 23
Depreciation and amortization 26 24 53 44
(Income) loss from equity method investments 0 0 0 0
Capital expenditures 21 21 37 37
Operating Segments | RH | Supply chain sales        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Supply chain cost of sales and Company restaurant expenses 0 0 0 0
Operating Segments | RH | Company restaurant sales        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Supply chain cost of sales and Company restaurant expenses 435 406 836 785
Intersegment Eliminations        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues (55) (49) (103) (97)
Segment F&P expenses (3) (4) (7) (8)
Advertising expenses and other services (24) (22) (45) (42)
Segment G&A 0 0 0 0
Cash distributions received from equity method investments 0 0 0 0
Adjusted Operating Income 0 0 0 0
Depreciation and amortization 0 0 0 0
(Income) loss from equity method investments 0 0 0 0
Capital expenditures 0 0 0 0
Intersegment Eliminations | Supply chain sales        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Supply chain cost of sales and Company restaurant expenses 0 0 0 0
Intersegment Eliminations | Company restaurant sales        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Supply chain cost of sales and Company restaurant expenses (27) (23) (51) (47)
Intersegment Eliminations | TH        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues 0 0 0 0
Intersegment Eliminations | Burger King brand        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues 54 49 102 97
Intersegment Eliminations | Popeyes brand        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues 0 0 0 0
Intersegment Eliminations | FHS        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues 0 0 0 0
Intersegment Eliminations | INTL        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues 0 0 1 0
Intersegment Eliminations | RH        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues $ 0 $ 0 $ 0 $ 0
v3.26.1
Segment Reporting - Schedule of Revenues by Country (Details) - Company restaurant sales - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total $ 508 $ 498 $ 985 $ 966
RH | Operating Segments        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total 435 406 836 785
RH | Operating Segments | Food, beverage, and packaging costs        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total 154 134 287 255
RH | Operating Segments | Restaurant wages and related expenses        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total 154 152 300 297
RH | Operating Segments | Restaurant occupancy expense and other        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total $ 128 $ 120 $ 250 $ 233
v3.26.1
Segment Reporting - Schedule of Revenues by Operating Segment and Country (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues $ 2,520 $ 2,410 $ 4,784 $ 4,519
United States        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues $ 1,197 $ 1,165 $ 2,296 $ 2,238
United States | Sales Revenue | Geographic Concentration Risk        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Percentage of revenue (as a percent) 10.00% 10.00% 10.00% 10.00%
Canada        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues $ 1,037 $ 992 $ 1,939 $ 1,807
Canada | Sales Revenue | Geographic Concentration Risk        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Percentage of revenue (as a percent) 10.00% 10.00% 10.00% 10.00%
Other        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]        
Total revenues $ 286 $ 253 $ 549 $ 474
v3.26.1
Segment Reporting - Schedule of Reconciliation of Segment Income to Net Income (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting [Line Items]        
Income from operations $ 716 $ 483 $ 1,322 $ 918
Impact of equity method investments 2 5 4 10
Other operating expenses (income), net (26) 149 (47) 232
Adjusted Operating Income 715 668 1,324 1,208
Unallocated management G&A        
Segment Reporting [Line Items]        
Franchise agreement and reacquired franchise rights amortization 16 17 32 33
RH and BK China Transaction costs 3 16 9 22
Corporate restructuring and advisory fees 2 5 4 6
Impact of equity method investments 3 (1) (4) 3
Other operating expenses (income), net $ (26) $ 149 $ (47) $ 232
v3.26.1
Revenue Recognition - Schedule of Change in Contract Liabilities (Details)
$ in Millions
 6 Months Ended
Jun. 30, 2026
USD ($)
Contract Liabilities  
Beginning balance $ 517
Recognized during period and included in the contract liability balance at the beginning of the year (31)
Increase, excluding amounts recognized as revenue during the period 15
Impact of foreign currency translation (5)
Ending balance $ 496
v3.26.1
Revenue Recognition - Schedule of Estimated Revenue Recognition (Details)
$ in Millions
Jun. 30, 2026
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, Remaining Performance Obligation, Amount $ 496
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, Remaining Performance Obligation, Amount $ 27
Revenue, remaining performance obligation, expected timing of satisfaction, period 6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, Remaining Performance Obligation, Amount $ 51
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, Remaining Performance Obligation, Amount $ 48
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, Remaining Performance Obligation, Amount $ 46
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2030-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, Remaining Performance Obligation, Amount $ 43
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2031-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, Remaining Performance Obligation, Amount $ 281
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
v3.26.1
Revenue Recognition - Schedule of Disaggregation of Total Revenues (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Property revenues $ 222 $ 219 $ 420 $ 404
Total revenues 2,520 2,410 4,784 4,519
TH        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Total revenues 1,137 1,083 2,134 1,987
BK        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Total revenues 342 338 659 647
PLK        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Total revenues 199 210 389 404
FHS        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Total revenues 62 59 121 113
INTL        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Total revenues 274 250 527 468
RH        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Total revenues 506 469 953 901
Product | Supply chain sales        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 788 732 1,474 1,343
Total revenues 788 732 1,474 1,343
Product | Company restaurant sales        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 617 600 1,176 1,158
Total revenues 617 600 1,176 1,158
Royalties        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 537 500 1,025 945
Franchise fees and other revenue        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 34 41 70 74
Advertising revenues and other services        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 322 318 619 595
Total revenues 322 318 619 595
Operating Segments | TH        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Property revenues 165 166 311 303
Total revenues 1,137 1,083 2,134 1,987
Operating Segments | BK        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Property revenues 61 55 117 107
Total revenues 397 388 762 744
Operating Segments | PLK        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Property revenues 4 4 7 7
Total revenues 199 210 389 404
Operating Segments | FHS        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Property revenues 0 0 0 0
Total revenues 62 59 121 113
Operating Segments | INTL        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Property revenues 0 0 1 1
Total revenues 274 250 528 468
Operating Segments | RH        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Property revenues 0 0 0 0
Total revenues 506 469 953 901
Operating Segments | Product | Supply chain sales | TH        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 788 732 1,474 1,343
Operating Segments | Product | Supply chain sales | BK        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 0 0 0 0
Operating Segments | Product | Supply chain sales | PLK        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 0 0 0 0
Operating Segments | Product | Supply chain sales | FHS        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 0 0 0 0
Operating Segments | Product | Supply chain sales | INTL        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 0 0 0 0
Operating Segments | Product | Supply chain sales | RH        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 0 0 0 0
Operating Segments | Product | Company restaurant sales | TH        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 11 12 20 22
Operating Segments | Product | Company restaurant sales | BK        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 44 61 90 121
Operating Segments | Product | Company restaurant sales | PLK        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 46 46 90 93
Operating Segments | Product | Company restaurant sales | FHS        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 12 11 23 22
Operating Segments | Product | Company restaurant sales | INTL        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 0 0 0 0
Operating Segments | Product | Company restaurant sales | RH        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 505 469 953 901
Operating Segments | Royalties | TH        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 90 89 167 162
Operating Segments | Royalties | BK        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 135 124 255 238
Operating Segments | Royalties | PLK        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 73 76 142 148
Operating Segments | Royalties | FHS        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 20 19 40 37
Operating Segments | Royalties | INTL        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 241 213 464 400
Operating Segments | Royalties | RH        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 0 0 0 0
Operating Segments | Franchise fees and other revenue | TH        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 8 7 17 15
Operating Segments | Franchise fees and other revenue | BK        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 2 3 5 5
Operating Segments | Franchise fees and other revenue | PLK        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 4 7 7 9
Operating Segments | Franchise fees and other revenue | FHS        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 9 9 18 17
Operating Segments | Franchise fees and other revenue | INTL        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 11 15 24 27
Operating Segments | Franchise fees and other revenue | RH        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 0 0 0 0
Operating Segments | Advertising revenues and other services | TH        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 76 78 145 142
Operating Segments | Advertising revenues and other services | BK        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 155 144 295 273
Operating Segments | Advertising revenues and other services | PLK        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 72 77 143 147
Operating Segments | Advertising revenues and other services | FHS        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 21 20 40 36
Operating Segments | Advertising revenues and other services | INTL        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 22 21 40 40
Operating Segments | Advertising revenues and other services | RH        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 0 0 0 0
Intersegment Eliminations        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Property revenues (8) (6) (15) (15)
Total revenues (55) (49) (103) (97)
Intersegment Eliminations | TH        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Total revenues 0 0 0 0
Intersegment Eliminations | BK        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Total revenues 54 49 102 97
Intersegment Eliminations | PLK        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Total revenues 0 0 0 0
Intersegment Eliminations | FHS        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Total revenues 0 0 0 0
Intersegment Eliminations | INTL        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Total revenues 0 0 1 0
Intersegment Eliminations | RH        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Total revenues 0 0 0 0
Intersegment Eliminations | Product | Supply chain sales        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 0 0 0 0
Intersegment Eliminations | Product | Company restaurant sales        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 0 0 0 0
Intersegment Eliminations | Royalties        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues (23) (21) (43) (40)
Intersegment Eliminations | Franchise fees and other revenue        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues 0 0 0 0
Intersegment Eliminations | Advertising revenues and other services        
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]        
Revenues $ (24) $ (22) $ (45) $ (42)
v3.26.1
BK China - Additional Information (Details) - USD ($)
$ in Millions
Feb. 14, 2025
Jan. 30, 2026
Burger King China    
Business Combination [Line Items]    
Payments to acquire businesses $ 151  
Burger King China JV    
Business Combination [Line Items]    
Acquisition, remaining issued and outstanding shares (as a percent)   17.00%
v3.26.1
BK China - Schedule of Net Cash Provided By (Used For) Discontinued Operations (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]    
Net cash used for operating activities from discontinued operations $ (9) $ (53)
Net cash used for investing activities from discontinued operations (3) (2)
Net cash used for financing activities from discontinued operations (15) (30)
Net cash used for discontinued operations $ (27) $ (85)
v3.26.1
Equity Method Investments - Additional Information (Details) - USD ($)
$ in Millions
 1 Months Ended 3 Months Ended 6 Months Ended
Aug. 06, 2026
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Jan. 30, 2026
Dec. 31, 2025
Schedule of Equity Method Investments [Line Items]              
Equity method investments   $ 192   $ 192     $ 111
Cash distributions received from equity method investments   4 $ 4 7 $ 7    
Burger King China JV              
Schedule of Equity Method Investments [Line Items]              
Equity method investments           $ 66  
Equity Method Investee              
Schedule of Equity Method Investments [Line Items]              
Accounts receivable from equity method investments   36   36     $ 41
Related Party | TH International Limited (Tims China) | Convertible Notes Payable Due September 30, 2029              
Schedule of Equity Method Investments [Line Items]              
Debt instrument, face amount   58   58      
Related Party | TH International Limited (Tims China) | Convertible Notes Payable Due September 30, 2029 | Subsequent Event              
Schedule of Equity Method Investments [Line Items]              
Debt instrument, incremental amount issued $ 16            
TH              
Schedule of Equity Method Investments [Line Items]              
Quoted market price   $ 3   $ 3      
TH | United States              
Schedule of Equity Method Investments [Line Items]              
Ownership (as a percent)   4.10%   4.10%      
Wendy's Company TIMWEN Partnership | TH              
Schedule of Equity Method Investments [Line Items]              
Cash distributions received from equity method investments   $ 4 4 $ 7 7    
Rent expense   $ 5 $ 6 $ 10 $ 10    
Wendy's Company TIMWEN Partnership | CANADA              
Schedule of Equity Method Investments [Line Items]              
Ownership (as a percent)   50.00%   50.00%      
v3.26.1
Equity Method Investments - Schedule of Franchisees and Property Revenues (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues from affiliates:        
Total revenues $ 2,520 $ 2,410 $ 4,784 $ 4,519
Affiliates        
Revenues from affiliates:        
Total revenues 104 93 201 177
Royalties        
Revenues from affiliates:        
Revenues 537 500 1,025 945
Royalties | Affiliates        
Revenues from affiliates:        
Revenues 94 83 181 158
Advertising revenues and other services        
Revenues from affiliates:        
Revenues 322 318 619 595
Total revenues 322 318 619 595
Advertising revenues and other services | Affiliates        
Revenues from affiliates:        
Revenues 3 1 6 3
Property revenues | Affiliates        
Revenues from affiliates:        
Revenues 0 1 0 1
Franchise fees and other revenue        
Revenues from affiliates:        
Revenues 34 41 70 74
Franchise fees and other revenue | Affiliates        
Revenues from affiliates:        
Revenues 3 4 6 7
Supply chain sales | Affiliates        
Revenues from affiliates:        
Revenues $ 4 $ 4 $ 8 $ 8
v3.26.1
Intangible Assets, net and Goodwill - Schedule of Intangible Assets, Net (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Intangible Asset, Finite-Lived [Line Items]    
Gross $ 1,146 $ 1,163
Accumulated Amortization (542) (515)
Net 604 648
Indefinite-lived Intangible Assets [Line Items]    
Indefinite-lived intangible assets: 10,341 10,542
Intangible assets, net 10,945 11,190
Trade Names | Tim Hortons brand    
Indefinite-lived Intangible Assets [Line Items]    
Indefinite-lived intangible assets: 6,041 6,224
Trade Names | Burger King brand    
Indefinite-lived Intangible Assets [Line Items]    
Indefinite-lived intangible assets: 2,129 2,147
Trade Names | Popeyes brand    
Indefinite-lived Intangible Assets [Line Items]    
Indefinite-lived intangible assets: 1,355 1,355
Trade Names | FHS    
Indefinite-lived Intangible Assets [Line Items]    
Indefinite-lived intangible assets: 816 816
Franchise agreements    
Intangible Asset, Finite-Lived [Line Items]    
Gross 722 732
Accumulated Amortization (423) (413)
Net 299 319
Reacquired franchise rights    
Intangible Asset, Finite-Lived [Line Items]    
Gross 362 368
Accumulated Amortization (72) (56)
Net 290 312
Favorable leases    
Intangible Asset, Finite-Lived [Line Items]    
Gross 62 63
Accumulated Amortization (47) (46)
Net $ 15 $ 17
v3.26.1
Intangible Assets, net and Goodwill - Schedule Of Goodwill (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Goodwill [Line Items]    
Goodwill $ 6,183 $ 6,306
TH    
Goodwill [Line Items]    
Goodwill 3,883 3,995
BK    
Goodwill [Line Items]    
Goodwill 358 358
PLK    
Goodwill [Line Items]    
Goodwill 844 844
FHS    
Goodwill [Line Items]    
Goodwill 193 194
INTL    
Goodwill [Line Items]    
Goodwill 540 545
RH    
Goodwill [Line Items]    
Goodwill $ 365 $ 370
v3.26.1
Intangible Assets, net and Goodwill - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Intangible Asset, Goodwill and Other [Abstract]        
Amortization expense on intangible assets $ 17 $ 18 $ 34 $ 35
v3.26.1
Other Accrued Liabilities and Other Liabilities, net (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current:    
Dividend payable $ 296 $ 283
Interest payable 69 69
Accrued compensation and benefits 121 155
Taxes payable 180 188
Deferred income 78 77
Accrued advertising expenses 39 44
Restructuring and other provisions 24 25
Current portion of operating lease liabilities $ 212 $ 200
Operating lease, liability, current, statement of financial position flag Other accrued liabilities Other accrued liabilities
Other $ 146 $ 230
Other accrued liabilities 1,165 1,271
Noncurrent:    
Taxes payable 83 77
Contract liabilities 496 517
Derivative liabilities 175 290
Unfavorable leases 21 25
Accrued pension 24 23
Deferred income 46 45
Other 55 57
Other liabilities, net $ 900 $ 1,034
v3.26.1
Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Debt Instrument [Line Items]    
Less: unamortized deferred financing costs and deferred issuance discount $ (78) $ (90)
Total debt, net 13,254 13,282
Less: current maturities of debt (48) (32)
Total long-term debt $ 13,206 13,250
Term Loan B    
Debt Instrument [Line Items]    
Stated interest rate (as a percent) 5.394%  
Term loan $ 4,455 4,479
Term Loan A    
Debt Instrument [Line Items]    
Stated interest rate (as a percent) 4.644%  
Term loan $ 1,227 1,243
First Lien Senior Notes | Senior Notes    
Debt Instrument [Line Items]    
Stated interest rate (as a percent) 3.875%  
Senior notes $ 1,550 1,550
First Lien Senior Notes | Senior Notes    
Debt Instrument [Line Items]    
Stated interest rate (as a percent) 3.50%  
Senior notes $ 750 750
First Lien Senior Notes | Senior Notes    
Debt Instrument [Line Items]    
Stated interest rate (as a percent) 6.125%  
Senior notes $ 1,200 1,200
First Lien Senior Notes | Senior Notes    
Debt Instrument [Line Items]    
Stated interest rate (as a percent) 5.625%  
Senior notes $ 500 500
Second Lien Senior Notes | Senior Notes    
Debt Instrument [Line Items]    
Stated interest rate (as a percent) 4.375%  
Senior notes $ 750 750
Second Lien Senior Notes | Senior Notes    
Debt Instrument [Line Items]    
Stated interest rate (as a percent) 4.00%  
Senior notes $ 2,900 $ 2,900
v3.26.1
Long-Term Debt - Revolving Credit Facility (Details) - Line of Credit
Jun. 30, 2026
USD ($)
Revolving Credit Facility  
Line of Credit Facility [Line Items]  
Letters of credit issued against credit facility $ 0
Remaining borrowing capacity 1,248,000,000
Letter of Credit  
Line of Credit Facility [Line Items]  
Letters of credit issued against credit facility 2,000,000
Letter of credit sublimit as part of revolving credit facility $ 125,000,000
v3.26.1
Long-Term Debt - Restrictions and Covenants (Details) - Senior Notes
Jun. 30, 2026
3.875% First Lien Senior Notes Due 2028  
Line of Credit Facility [Line Items]  
Stated interest rate (as a percent) 3.875%
3.50% First Lien Senior Notes Due 2029  
Line of Credit Facility [Line Items]  
Stated interest rate (as a percent) 3.50%
6.125% First Lien Senior Notes Due 2029  
Line of Credit Facility [Line Items]  
Stated interest rate (as a percent) 6.125%
5.625% First Lien Senior Notes Due 2029  
Line of Credit Facility [Line Items]  
Stated interest rate (as a percent) 5.625%
4.375% Second Lien Senior Notes Due 2028  
Line of Credit Facility [Line Items]  
Stated interest rate (as a percent) 4.375%
4.00% Second Lien Senior Notes Due 2030  
Line of Credit Facility [Line Items]  
Stated interest rate (as a percent) 4.00%
v3.26.1
Long-Term Debt - Schedule of Fair Value Measurement (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Debt Disclosure [Abstract]    
Fair value of our variable term debt and senior notes $ 13,139 $ 13,266
Principal carrying amount of our variable term debt and senior notes $ 13,332 $ 13,372
v3.26.1
Long-Term Debt - Schedule of Interest Expense, Net (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Debt $ 118 $ 127 $ 237 $ 254
Finance lease obligations 5 4 9 9
Amortization of deferred financing costs and debt issuance discount 6 7 12 13
Interest income (5) (6) (11) (14)
Interest expense, net 124 132 247 262
Interest rate swaps | Derivatives designated as cash flow hedges | Income Statement Location [Axis]: us-gaap:InterestIncomeExpenseNonoperatingNet        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Gain or (loss) reclassified from AOCI into earnings 19 27 39 53
Cross-currency rate swaps | Derivatives designated as net investment hedges        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Gain (loss) reclassified to earnings, net investment hedge $ 22 $ 22 $ 44 $ 44
v3.26.1
Derivative Instruments - Additional Information (Details)
 6 Months Ended
Jun. 30, 2026
USD ($)
Interest Rate Swap - Period One  
Derivative [Line Items]  
Notional value $ 3,500,000,000
Interest Rate Swap - Period Two  
Derivative [Line Items]  
Notional value 500,000,000
Interest rate swaps  
Derivative [Line Items]  
Net amount of pre-tax gains 79,000,000
Cross currency interest rate contract | Derivatives designated as net investment hedges  
Derivative [Line Items]  
Notional value 5,700,000,000
Cross Currency Interest Rate Contract, Maturing October 31, 2027 | Derivatives designated as net investment hedges  
Derivative [Line Items]  
Notional value 700,000,000
Cross Currency Interest Rate Contract, Maturing September 30 2028 | Derivatives designated as net investment hedges  
Derivative [Line Items]  
Notional value 1,950,000,000
Cross Currency Interest Rate Contract, Maturing October 31, 2029 | Derivatives designated as net investment hedges  
Derivative [Line Items]  
Notional value 1,400,000,000
Cross Currency Interest Rate Contract, Maturing October 31, 2030 | Derivatives designated as net investment hedges  
Derivative [Line Items]  
Notional value 1,650,000,000
Cross Currency Interest Rate Contract Interest Receivable | Derivatives designated as net investment hedges  
Derivative [Line Items]  
Notional value 2,750,000,000
Cross Currency Interest Rate Contract, Maturing November 30, 2028 | Derivatives designated as net investment hedges  
Derivative [Line Items]  
Notional value 1,200,000,000
Cross Currency Interest Rate Contract, Maturing October 31, 2028 | Derivatives designated as net investment hedges  
Derivative [Line Items]  
Notional value 150,000,000
Foreign Exchange Contract  
Derivative [Line Items]  
Notional value $ 218,000,000
v3.26.1
Derivative Instruments - Schedule of Quantitative Disclosures of Derivative Instruments (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Interest rate swaps | Derivatives designated as cash flow hedges        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Derivatives designated as cash flow hedges $ 33 $ (17) $ 59 $ (58)
Interest rate swaps | Income Statement Location [Axis]: us-gaap:InterestIncomeExpenseNonoperatingNet | Derivatives designated as cash flow hedges        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Gain or (Loss) Reclassified from AOCI into Earnings 19 27 39 53
Forward-currency contracts | Derivatives designated as cash flow hedges        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Derivatives designated as cash flow hedges 4 2 9 2
Forward-currency contracts | Income Statement Location [Axis]: us-gaap:CostOfGoodsAndServicesSold | Derivatives designated as cash flow hedges        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Gain or (Loss) Reclassified from AOCI into Earnings 0 1 (1) 4
Cross-currency rate swaps | Derivatives designated as net investment hedges        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Derivatives designated as net investment hedges 40 (420) 141 (483)
Gain or (Loss) Recognized in Earnings (Amount Excluded from Effectiveness Testing) $ 22 $ 22 $ 44 $ 44
v3.26.1
Derivative Instruments - Schedule of Fair Value Measurements (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Derivative [Line Items]    
Total assets at fair value $ 170 $ 66
Total liabilities at fair value 191 293
Interest rate | Balance Sheet Location [Axis]: us-gaap:OtherAssetsNoncurrent | Derivatives designated as cash flow hedges    
Derivative [Line Items]    
Total assets at fair value 96 58
Interest rate | Balance Sheet Location [Axis]: us-gaap:PrepaidExpenseAndOtherAssetsCurrent | Derivatives designated as cash flow hedges    
Derivative [Line Items]    
Total assets at fair value 3 8
Foreign currency | Balance Sheet Location [Axis]: us-gaap:OtherAccruedLiabilitiesCurrent | Derivatives designated as cash flow hedges    
Derivative [Line Items]    
Total liabilities at fair value 0 3
Foreign currency | Balance Sheet Location [Axis]: us-gaap:OtherAccruedLiabilitiesCurrent | Derivatives not designated as hedging instruments    
Derivative [Line Items]    
Total liabilities at fair value 16 0
Foreign currency | Balance Sheet Location [Axis]: us-gaap:OtherAssetsNoncurrent | Derivatives designated as net investment hedges    
Derivative [Line Items]    
Total assets at fair value 47 0
Foreign currency | Balance Sheet Location [Axis]: us-gaap:OtherLiabilitiesNoncurrent | Derivatives designated as net investment hedges    
Derivative [Line Items]    
Total liabilities at fair value 175 290
Foreign currency | Balance Sheet Location [Axis]: us-gaap:PrepaidExpenseAndOtherAssetsCurrent | Derivatives designated as cash flow hedges    
Derivative [Line Items]    
Total assets at fair value 8 0
Foreign currency | Balance Sheet Location [Axis]: us-gaap:PrepaidExpenseAndOtherAssetsCurrent | Derivatives not designated as hedging instruments    
Derivative [Line Items]    
Total assets at fair value $ 16 $ 0
v3.26.1
Shareholders' Equity - Additional Information (Details) - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Mar. 31, 2025
Jun. 30, 2026
Dec. 31, 2025
Aug. 06, 2025
Stockholders Equity [Line Items]            
Gain (loss) recorded on equity transactions       $ 0    
Number of shares authorized to be repurchased (in shares)           1,000,000,000
Stock repurchased, not yet settled (in shares)       13,782    
Remaining authorized repurchase amount $ 829,000,000     $ 829,000,000    
Issued Common Shares            
Stockholders Equity [Line Items]            
Exchange of Partnership exchangeable units for RBI common shares (in shares) 3,599,548 3,624 55,462      
Repurchase of common shares (in shares) 1,821,167     2,284,609    
Repurchase of common shares $ 137,000,000     $ 171,000,000    
Partnerships Exchangeable Units            
Stockholders Equity [Line Items]            
Exchange of Partnership exchangeable units for RBI common shares (in shares)       3,603,172    
Restaurant Brands International Limited Partnership            
Stockholders Equity [Line Items]            
Partnership exchangeable units economic interest (as a percent)       23.20% 24.00%  
Partnership exchangeable units economic interest (in shares) 105,753,373     105,753,373 109,356,545  
v3.26.1
Shareholders' Equity - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balances $ 5,291 $ 4,824 $ 5,159 $ 4,843
Foreign currency translation adjustment (209) 696 (373) 798
Amounts reclassified to earnings of cash flow hedges, net of tax (14) (21) (28) (42)
Gain (loss) recognized on other, net of tax (1) 2 (5) 1
Ending balances 5,395 5,090 5,395 5,090
Accumulated Other Comprehensive Income (Loss)        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balances (1,062) (1,125) (1,020) (1,107)
Foreign currency translation adjustment     (373)  
Net change in fair value of derivatives, net of tax     187  
Amounts reclassified to earnings of cash flow hedges, net of tax     (28)  
Gain (loss) recognized on other, net of tax     (5)  
Amounts attributable to noncontrolling interests     40  
Ending balances (1,199) $ (946) (1,199) $ (946)
Derivatives        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balances     358  
Net change in fair value of derivatives, net of tax     187  
Amounts reclassified to earnings of cash flow hedges, net of tax     (28)  
Amounts attributable to noncontrolling interests     (33)  
Ending balances 484   484  
Pensions        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balances     (18)  
Gain (loss) recognized on other, net of tax     (5)  
Amounts attributable to noncontrolling interests     1  
Ending balances (22)   (22)  
Foreign Currency Translation        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balances     (1,360)  
Foreign currency translation adjustment     (373)  
Amounts attributable to noncontrolling interests     72  
Ending balances $ (1,661)   $ (1,661)  
v3.26.1
Leases (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Lease income - operating leases        
Minimum lease payments $ 99 $ 90 $ 196 $ 177
Variable lease payments 121 127 221 224
Amortization of favorable and unfavorable income lease contracts, net 1 1 1 1
Subtotal - lease income from operating leases 221 218 418 402
Earned income on direct financing and sales-type leases 1 1 2 2
Total property revenues $ 222 $ 219 $ 420 $ 404
v3.26.1
Income Taxes (Details)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Tax Disclosure [Abstract]        
Effective income tax rate (as a percent) (12.30%) 24.80% (3.20%) 25.80%
v3.26.1
Other Operating Expenses (Income), net (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Other Income and Expenses [Abstract]        
Net losses (gains) on disposal of assets, restaurant closures and refranchisings $ (1) $ 13 $ (1) $ 15
Litigation settlements (gains) and reserves, net 1 1 5 4
Net losses (gains) on foreign exchange (20) 132 (50) 207
Other, net (6) 3 (1) 6
Other operating expenses (income), net $ (26) $ 149 $ (47) $ 232
v3.26.1
Commitments and Contingencies (Details)
 1 Months Ended
Oct. 31, 2024
director
Pending Litigation | Former Shareholder Vs Individual Directors  
Loss Contingencies [Line Items]  
Number of defendants 2
v3.26.1
Supplier Finance Programs (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Supplier finance programs, term 120 days  
Supplier finance program, obligation $ 54 $ 38
v3.26.1
Subsequent Events (Details) - USD ($)
$ / shares in Units, $ in Millions
 1 Months Ended 3 Months Ended 6 Months Ended
Jul. 07, 2026
Aug. 06, 2026
Jul. 31, 2026
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2026
Subsequent Event [Line Items]                
Common stock, dividends declared (in usd per share)       $ 0.65 $ 0.65 $ 0.62 $ 0.62  
Remaining authorized repurchase amount       $ 829       $ 829
Issued Common Shares                
Subsequent Event [Line Items]                
Repurchase of common shares (in shares)       1,821,167       2,284,609
Repurchase of common shares       $ 137       $ 171
Subsequent Event                
Subsequent Event [Line Items]                
Common stock, dividends paid (in usd per share) $ 0.65              
Common stock, dividends declared (in usd per share)   $ 0.65            
Remaining authorized repurchase amount     $ 794          
Subsequent Event | Issued Common Shares                
Subsequent Event [Line Items]                
Repurchase of common shares (in shares)     463,385          
Repurchase of common shares     $ 35          
Subsequent Event | Partnerships Exchangeable Units | Restaurant Brands International Limited Partnership                
Subsequent Event [Line Items]                
Distribution in respect of each Partnership exchangeable unit (in usd per share) $ 0.65 $ 0.65