Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Change in Contract Liabilities

The following table reflects the change in contract liabilities on a consolidated basis between December 31, 2022 and June 30, 2023 (in millions):

Contract Liabilities
Balance at December 31, 2022	$	540
Recognized during period and included in the contract liability balance at the beginning of the year	(30)
Increase, excluding amounts recognized as revenue during the period	24
Impact of foreign currency translation	4
Balance at June 30, 2023	$	538

Schedule of Estimated Revenues Expected to be Recognized

The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) on a consolidated basis as of June 30, 2023 (in millions):

Contract liabilities expected to be recognized in
Remainder of 2023	$	27
2024	52
2025	49
2026	46
2027	43
Thereafter	321
Total	$	538

Disaggregation of Total Revenues

The following tables disaggregate revenue by segment (in millions):

	Three months ended June 30, 2023
	TH		BK		PLK		FHS		Total
Sales	$	688	$	24	$	22	$	10	$	744
Royalties	90		302		81		18		491
Property revenues	158		58		4		—		220
Franchise fees and other revenue	7		13		5		6		31
Advertising revenues and other services	73		132		70		14		289
Total revenues	$	1,016	$	529	$	182	$	48	$	1,775

	Six months ended June 30, 2023
	TH		BK		PLK		FHS		Total
Sales	$	1,306	$	43	$	43	$	20	$	1,412
Royalties	167		575		156		35		933
Property revenues	295		114		7		—		416
Franchise fees and other revenue	13		28		8		12		61
Advertising revenues and other services	135		253		136		19		543
Total revenues	$	1,916	$	1,013	$	350	$	86	$	3,365

	Three months ended June 30, 2022
	TH		BK		PLK		FHS		Total
Sales	$	661	$	17	$	20	$	10	$	708
Royalties	83		266		72		17		438
Property revenues	149		57		3		—		209
Franchise fees and other revenue	6		12		6		5		29
Advertising revenues and other services	69		121		64		1		255
Total revenues	$	968	$	473	$	165	$	33	$	1,639

	Six months ended June 30, 2022
	TH		BK		PLK		FHS		Total
Sales	$	1,227	$	33	$	37	$	20	$	1,317
Royalties	152		517		139		33		841
Property revenues	279		112		6		—		397
Franchise fees and other revenue	13		24		7		9		53
Advertising revenues and other services	126		230		124		2		482
Total revenues	$	1,797	$	916	$	313	$	64	$	3,090