Leases

6 Months Ended

Jun. 30, 2022

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,
	2022		2021		2022		2021
Lease income - operating leases
Minimum lease payments	$	101	$	117	$	214	$	230
Variable lease payments	106		84		179		150
Amortization of favorable and unfavorable income lease contracts, net	1		1		1		2
Subtotal - lease income from operating leases	208		202		394		382
Earned income on direct financing and sales-type leases	1		1		3		3
Total property revenues	$	209	$	203	$	397	$	385

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,
	2022		2021		2022		2021
Lease income - operating leases
Minimum lease payments	$	101	$	117	$	214	$	230
Variable lease payments	106		84		179		150
Amortization of favorable and unfavorable income lease contracts, net	1		1		1		2
Subtotal - lease income from operating leases	208		202		394		382
Earned income on direct financing and sales-type leases	1		1		3		3
Total property revenues	$	209	$	203	$	397	$	385