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)