v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Current assets:        
Cash and cash equivalents $ 1,012 $ 1,163 $ 899 $ 1,334
Accounts and notes receivable, net of allowance of $37 and $54, respectively 767 794    
Inventories, net 203 205    
Prepaids and other current assets 172 179    
Assets held for sale - discontinued operations 0 489    
Total current assets 2,154 2,830    
Property and equipment, net of accumulated depreciation and amortization of $1,273 and $1,245, respectively 2,261 2,303    
Operating lease assets, net 1,972 1,961    
Intangible assets, net 11,079 11,190    
Goodwill 6,251 6,306    
Other assets, net 1,163 1,025    
Total assets 24,880 25,615    
Current liabilities:        
Accounts and drafts payable 813 866    
Other accrued liabilities 1,099 1,271    
Gift card liability 191 249    
Current portion of long-term debt and finance leases 75 68    
Liabilities held for sale - discontinued operations 0 437    
Total current liabilities 2,178 2,891    
Long-term debt, net of current portion 13,228 13,250    
Finance leases, net of current portion 253 261    
Operating lease liabilities, net of current portion 1,916 1,900    
Other liabilities, net 931 1,034    
Deferred income taxes, net 1,083 1,120    
Total liabilities 19,589 20,456    
Partners’ capital:        
Accumulated other comprehensive income (loss) (1,389) (1,334)    
Total Partners’ capital 5,289 5,157    
Noncontrolling interests 2 2    
Total equity 5,291 5,159 $ 4,824 $ 4,843
Total liabilities and equity 24,880 25,615    
Class A common units        
Partners’ capital:        
Class A common units; 226,250,910 issued and outstanding at March 31, 2026; 226,247,286 issued and outstanding at December 31, 2025 12,157 12,006    
Partnership exchangeable units        
Partners’ capital:        
Partnership exchangeable units; 109,352,921 issued and outstanding at March 31, 2026; 109,356,545 issued and outstanding at December 31, 2025 $ (5,479) $ (5,515)