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