Leases

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Lease income - operating leases
Minimum lease payments	$	100	$	113	$	314	$	343
Variable lease payments	112		91		291		241
Amortization of favorable and unfavorable income lease contracts, net	—		1		1		3
Subtotal - lease income from operating leases	212		205		606		587
Earned income on direct financing and sales-type leases	2		1		5		4
Total property revenues	$	214	$	206	$	611	$	591

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 September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Lease income - operating leases
Minimum lease payments	$	100	$	113	$	314	$	343
Variable lease payments	112		91		291		241
Amortization of favorable and unfavorable income lease contracts, net	—		1		1		3
Subtotal - lease income from operating leases	212		205		606		587
Earned income on direct financing and sales-type leases	2		1		5		4
Total property revenues	$	214	$	206	$	611	$	591