v3.26.3
Intangible Assets, net and Goodwill (Tables)
 9 Months Ended
Sep. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Schedule of Intangible Assets, Net and Goodwill
Intangible assets, net and goodwill consist of the following (in millions):

As of
September 30, 2026December 31, 2025
GrossAccumulated AmortizationNetGrossAccumulated AmortizationNet
Identifiable assets subject to amortization:
   Franchise agreements$721 $(430)$291 $732 $(413)$319 
   Reacquired franchise rights324 (72)252 368 (56)312 
   Favorable leases62 (48)14 63 (46)17 
      Subtotal1,107 (550)557 1,163 (515)648 
Indefinite-lived intangible assets:
   Tim Hortons brand
$6,029 $— $6,029 $6,224 $— $6,224 
   Burger King brand
2,123 — 2,123 2,147 — 2,147 
   Popeyes brand
1,355 — 1,355 1,355 — 1,355 
   Firehouse Subs brand
816 — 816 816 — 816 
      Subtotal10,323 — 10,323 10,542 — 10,542 
Intangible assets, net$10,880 $11,190 
Goodwill:
TH segment$3,875 $3,995 
BK segment358 358 
PLK segment850 844 
FHS segment193 194 
INTL segment539 545 
RH segment351 370 
      Total$6,166 $6,306