v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2026
Jun. 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Current assets:                
Cash and cash equivalents $ 974     $ 1,163 $ 1,206     $ 1,334
Accounts and notes receivable, net of allowance of $45 and $54, respectively 799     794        
Inventories, net 237     205        
Prepaids and other current assets 300     179        
Assets held for sale - discontinued operations 0     489        
Total current assets 2,310     2,830        
Property and equipment, net of accumulated depreciation and amortization of $1,335 and $1,245, respectively 2,251     2,303        
Operating lease assets, net 1,998     1,961        
Intangible assets, net 10,880     11,190        
Goodwill 6,166     6,306        
Other assets, net 1,658     1,025        
Total assets 25,263     25,615        
Current liabilities:                
Accounts and drafts payable 816     866        
Other accrued liabilities 1,344     1,271        
Gift card liability 168     249        
Current portion of long-term debt and finance leases 89     68        
Liabilities held for sale - discontinued operations 0     437        
Total current liabilities 2,417     2,891        
Long-term debt, net of current portion 13,184     13,250        
Finance leases, net of current portion 243     261        
Operating lease liabilities, net of current portion 1,941     1,900        
Other liabilities, net 895     1,034        
Deferred income taxes, net 1,055     1,120        
Total liabilities 19,735     20,456        
Partners’ capital:                
Accumulated other comprehensive income (loss) (1,588)     (1,334)        
Total Partners’ capital 5,526     5,157        
Noncontrolling interests 2     2        
Total equity 5,528 $ 5,395 $ 5,291 5,159 $ 5,165 $ 5,090 $ 4,824 $ 4,843
Total liabilities and equity 25,263     25,615        
Class A common units                
Partners’ capital:                
Class A common units; 229,893,003 issued and outstanding at September 30, 2026; 226,247,286 issued and outstanding at December 31, 2025 12,894     12,006        
Partnership exchangeable units                
Partners’ capital:                
Partnership exchangeable units; 102,926,279 issued and outstanding at September 30, 2026; 109,356,545 issued and outstanding at December 31, 2025 $ (5,780)     $ (5,515)