v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Current assets:            
Cash and cash equivalents $ 1,063   $ 1,163 $ 1,026   $ 1,334
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      
Partners’ capital:            
Accumulated other comprehensive income (loss) (1,553)   (1,334)      
Total Partners’ capital 5,393   5,157      
Noncontrolling interests 2   2      
Total equity 5,395 $ 5,291 5,159 $ 5,090 $ 4,824 $ 4,843
Total liabilities and equity 25,022   25,615      
Class A common units            
Partners’ capital:            
Class A common units; 229,850,458 issued and outstanding at June 30, 2026; 226,247,286 issued and outstanding at December 31, 2025 12,604   12,006      
Partnership exchangeable units            
Partners’ capital:            
Partnership exchangeable units; 105,753,373 issued and outstanding at June 30, 2026; 109,356,545 issued and outstanding at December 31, 2025 $ (5,658)   $ (5,515)