Restaurant Brands International Limited Partnership (RSTRF) 10-Q 30 Apr 21 2021 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2021	Apr. 23, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-36787
Entity Registrant Name	RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP
Entity Incorporation, State or Country Code	Z4
Entity Tax Identification Number	98-1206431
Entity Address, Address Line One	130 King Street West, Suite 300
Entity Address, City or Town	Toronto,
Entity Address, State or Province	ON
Entity Address, Postal Zip Code	M5X 1E1
City Area Code	905
Local Phone Number	339-6011
Title of 12(g) Security	Class B exchangeable limited partnership units
Trading Symbol	QSP
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001618755
Current Fiscal Year End Date	--12-31
Partnership exchangeable units
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		155,040,582
Class A common units
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		202,006,067

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 1,563	$ 1,560	$ 2,498	$ 1,533
Accounts and notes receivable, net of allowance of $30 and $42, respectively	519	536
Inventories, net	98	96
Prepaids and other current assets	111	72
Total current assets	2,291	2,264
Property and equipment, net of accumulated depreciation and amortization of $915 and $879, respectively	2,028	2,031
Operating lease assets, net	1,140	1,152
Intangible assets, net	10,742	10,701
Goodwill	5,781	5,739
Net investment in property leased to franchisees	67	66
Other assets, net	808	824
Total assets	22,857	22,777
Current liabilities:
Accounts and drafts payable	488	464
Other accrued liabilities	805	835
Gift card liability	147	191
Current portion of long-term debt and finance leases	112	111
Total current liabilities	1,552	1,601
Long-term debt, net of current portion	12,386	12,397
Finance leases, net of current portion	318	315
Operating lease liabilities, net of current portion	1,075	1,082
Other liabilities, net	2,089	2,236
Deferred income taxes, net	1,435	1,425
Total liabilities	18,855	19,056
Partners’ capital:
Accumulated other comprehensive income (loss)	(1,072)	(1,275)
Total Partners’ capital	3,996	3,717
Noncontrolling interests	6	4
Total equity	4,002	3,721	3,752	4,259
Total liabilities and equity	22,857	22,777
Class A common units
Partners’ capital:
Class A common units; 202,006,067 issued and outstanding at March 31, 2021 and December 31, 2020	8,066	7,994
Total equity	8,066	7,994	7,840	7,786
Partnership exchangeable units
Partners’ capital:
Partnership exchangeable units; 155,040,667 issued and outstanding at March 31, 2021; 155,113,338 issued and outstanding at December 31, 2020	(2,998)	(3,002)
Total equity	$ (2,998)	$ (3,002)	$ (2,370)	$ (2,353)

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Financing receivable, allowance for credit loss, current	$ 30	$ 42
Accumulated depreciation and amortization, property, plant, and equipment	$ 915	$ 879
Partnership exchangeable units, issued (in shares)		155,113,338
Class A common units
Class A common units, issued (in shares)	202,006,067	202,006,067
Class A common units, outstanding (in shares)	202,006,067	202,006,067
Partnership exchangeable units
Partnership exchangeable units, issued (in shares)	155,040,667	155,113,338
Partnership exchangeable units, outstanding (in shares)	155,040,667	155,113,338

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues:
Total revenues	$ 1,260	$ 1,225
Operating costs and expenses:
Cost of sales	401	399
Franchise and property expenses	116	123
Advertising expenses	236	226
General and administrative expenses	105	102
(Income) loss from equity method investments	2	2
Other operating expenses (income), net	(42)	(16)
Total operating costs and expenses	818	836
Income from operations	442	389
Interest expense, net	124	119
Income before income taxes	318	270
Income tax expense	47	46
Net income	271	224
Net income attributable to noncontrolling interests	1	0
Net income attributable to common unitholders	270	224
Class A common units
Operating costs and expenses:
Net income	179	144
Net income attributable to common unitholders	$ 179	$ 144
Earnings per unit - basic and diluted
Earnings per unit - basic and diluted (in usd per share)	$ 0.89	$ 0.71
Weighted average units outstanding - basic and diluted
Weighted average units outstanding - basic and diluted (in shares)	202	202
Partnership exchangeable units
Operating costs and expenses:
Net income	$ 91	$ 80
Net income attributable to common unitholders	$ 91	$ 80
Earnings per unit - basic and diluted
Earnings per unit - basic and diluted (in usd per share)	$ 0.59	$ 0.48
Weighted average units outstanding - basic and diluted
Weighted average units outstanding - basic and diluted (in shares)	155	165
Sales
Revenues:
Sales	$ 507	$ 503
Franchise and property revenues
Revenues:
Total revenues	548	525
Advertising revenues
Revenues:
Sales	205	197
Total revenues	$ 205	$ 197

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 271	$ 224
Foreign currency translation adjustment	54	(751)
Net change in fair value of net investment hedges, net of tax of $20 and $(106)	29	411
Net change in fair value of cash flow hedges, net of tax of $(33) and $79	95	(214)
Amounts reclassified to earnings of cash flow hedges, net of tax of $(8) and $(4)	24	11
Gain (loss) recognized on other, net of tax of $0 and $0	1	0
Other comprehensive income (loss)	203	(543)
Comprehensive income (loss)	474	(319)
Comprehensive income (loss) attributable to noncontrolling interests	1	0
Comprehensive income (loss) attributable to common unitholders	$ 473	$ (319)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Derivatives used in net investment hedge, tax	$ 20	$ (106)
Other comprehensive income (loss), cash flow hedge, gain (loss), before reclassification, tax	(33)	79
Other comprehensive income (loss), cash flow hedge, gain (loss), reclassification, tax	(8)	(4)
Other comprehensive (income) loss, defined benefit plan, after reclassification adjustment, tax	$ 0	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity - USD ($) $ in Millions	Total	Accumulated  Other Comprehensive Income (Loss)	Noncontrolling Interest	Class A common units	Partnership exchangeable units
Beginning balance Class A (in shares) at Dec. 31, 2019				202,006,067
Beginning balances at Dec. 31, 2019	$ 4,259	$ (1,178)	$ 4	$ 7,786	$ (2,353)
Beginning balance partnership exchangeable unit (in shares) at Dec. 31, 2019					165,507,199
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distributions declared on Class A common units ($0.81 per unit)	(156)			(156)
Distributions declared on partnership exchangeable units ($0.53 per unit)	(86)				$ (86)
Exchange of Partnership exchangeable units for RBI common shares	0			11	$ (11)
Exchange of Partnership exchangeable units for RBI common shares (in shares)					(178,046)
Capital contribution from RBI	55			55
Restaurant VIE contributions (distributions)	(1)		(1)
Net income	224			$ 144	$ 80
Other comprehensive income (loss)	(543)	(543)
Ending balance Class A (in shares) at Mar. 31, 2020				202,006,067
Ending balances at Mar. 31, 2020	3,752	(1,721)	3	$ 7,840	$ (2,370)
Ending balance partnership exchangeable units (in shares) at Mar. 31, 2020					165,329,153
Beginning balance Class A (in shares) at Dec. 31, 2020				202,006,067
Beginning balances at Dec. 31, 2020	3,721	(1,275)	4	$ 7,994	$ (3,002)
Beginning balance partnership exchangeable unit (in shares) at Dec. 31, 2020					155,113,338
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distributions declared on Class A common units ($0.81 per unit)	(163)			(163)
Distributions declared on partnership exchangeable units ($0.53 per unit)	(82)				$ (82)
Exchange of Partnership exchangeable units for RBI common shares	0			5	$ (5)
Exchange of Partnership exchangeable units for RBI common shares (in shares)					(72,671)
Capital contribution from RBI	51			51
Restaurant VIE contributions (distributions)	1		1
Net income	271		1	$ 179	$ 91
Other comprehensive income (loss)	203	203
Ending balance Class A (in shares) at Mar. 31, 2021				202,006,067
Ending balances at Mar. 31, 2021	$ 4,002	$ (1,072)	$ 6	$ 8,066	$ (2,998)
Ending balance partnership exchangeable units (in shares) at Mar. 31, 2021					155,040,667

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividend declared by board (in usd per share)	$ 0.81	$ 0.77
Distributions dividends declared (in usd per share)	$ 0.53	$ 0.52

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net income	$ 271	$ 224
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	49	45
Amortization of deferred financing costs and debt issuance discount	7	6
(Income) loss from equity method investments	2	2
(Gain) loss on remeasurement of foreign denominated transactions	(43)	(8)
Net (gains) losses on derivatives	20	(6)
Share-based compensation expense	22	19
Deferred income taxes	14	(31)
Other	(8)	(4)
Changes in current assets and liabilities, excluding acquisitions and dispositions:
Accounts and notes receivable	24	94
Inventories and prepaids and other current assets	(4)	(13)
Accounts and drafts payable	19	(136)
Other accrued liabilities and gift card liability	(113)	(67)
Tenant inducements paid to franchisees	0	(3)
Other long-term assets and liabilities	6	14
Net cash provided by operating activities	266	136
Cash flows from investing activities:
Payments for property and equipment	(15)	(19)
Net proceeds from disposal of assets, restaurant closures, and refranchisings	11	4
Settlement/sale of derivatives, net	2	12
Other investing activities, net	(5)	0
Net cash (used for) provided by investing activities	(7)	(3)
Cash flows from financing activities:
Proceeds from revolving line of credit and long-term debt	0	1,085
Repayments of revolving line of credit, long-term debt and finance leases	(27)	(25)
Distributions on Class A common and Partnership exchangeable units	(239)	(232)
Capital contribution from RBI	20	30
(Payments) proceeds from derivatives	(16)	(2)
Other financing activities, net	1	(1)
Net cash (used for) provided by financing activities	(261)	855
Effect of exchange rates on cash and cash equivalents	5	(23)
Increase (decrease) in cash and cash equivalents	3	965
Cash and cash equivalents at beginning of period	1,560	1,533
Cash and cash equivalents at end of period	1,563	2,498
Supplemental cash flow disclosures:
Interest paid	72	104
Income taxes paid	$ 96	$ 48

Description of Business and Org

Description of Business and Organization	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Organization	Description of Business and Organization Restaurant Brands International Limited Partnership (“Partnership”, “we”, “us” or “our”) is a Canadian limited partnership. We franchise and operate quick service restaurants serving premium coffee and other beverage and food products under the Tim Hortons ® brand (“Tim Hortons” or “TH”), fast food hamburgers principally under the Burger King ® brand (“Burger King” or “BK”), and chicken under the Popeyes ® brand (“Popeyes” or “PLK”). We are one of the world’s largest quick service restaurant, or QSR, companies as measured by total number of restaurants. As of March 31, 2021, we franchised or owned 4,987 Tim Hortons restaurants, 18,691 Burger King restaurants, and 3,495 Popeyes restaurants, for a total of 27,173 restaurants, and operate in more than 100 countries. Approximately 100% of current system-wide restaurants are franchised. We are a subsidiary of Restaurant Brands International Inc. (“RBI”). RBI is our sole general partner, and as such, RBI has the exclusive right, power and authority to manage, control, administer and operate the business and affairs and to make decisions regarding the undertaking and business of Partnership in accordance with the partnership agreement of Partnership (“partnership agreement”) and applicable laws. All references to “$” or “dollars” are to the currency of the United States unless otherwise indicated. All references to “Canadian dollars” or “C$” are to the currency of Canada unless otherwise indicated.

Basis of Presentation and Conso

Basis of Presentation and Consolidation	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation We have prepared the accompanying unaudited condensed consolidated financial statements (the “Financial Statements”) in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements. Therefore, the Financial Statements should be read in conjunction with the audited consolidated financial statements contained in our Annual Report on Form 10-K filed with the SEC and Canadian securities regulatory authorities on February 23, 2021. The Financial Statements include our accounts and the accounts of entities in which we have a controlling financial interest, the usual condition of which is ownership of a majority voting interest. All material intercompany balances and transactions have been eliminated in consolidation. Investments in other affiliates that are owned 50% or less where we have significant influence are accounted for by the equity method. We also consider for consolidation entities in which we have certain interests, where the controlling financial interest may be achieved through arrangements that do not involve voting interests. Such an entity, known as a variable interest entity (“VIE”), is required to be consolidated by its primary beneficiary. The primary beneficiary is the entity that possesses the power to direct the activities of the VIE that most significantly impact its economic performance and has the obligation to absorb losses or the right to receive benefits from the VIE that are significant to it. Our maximum exposure to loss resulting from involvement with VIEs is attributable to accounts and notes receivable balances, outstanding loan guarantees and future lease payments, where applicable. As our franchise and master franchise arrangements provide the franchise and master franchise entities the power to direct the activities that most significantly impact their economic performance, we do not consider ourselves the primary beneficiary of any such entity that might be a VIE. Tim Hortons has historically entered into certain arrangements in which an operator acquires the right to operate a restaurant, but Tim Hortons owns the restaurant’s assets. We perform an analysis to determine if the legal entity in which operations are conducted is a VIE and consolidate a VIE entity if we also determine Tim Hortons is the entity’s primary beneficiary (“Restaurant VIEs”). As of March 31, 2021 and December 31, 2020, we determined that we are the primary beneficiary of 51 and 38 Restaurant VIEs, respectively, and accordingly, have consolidated the results of operations, assets and liabilities, and cash flows of these Restaurant VIEs in our Financial Statements. Material intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation have been included in the Financial Statements. The results for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the full year. The preparation of consolidated financial statements in conformity with U.S. GAAP and related rules and regulations of the SEC requires our management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the related disclosure of contingent assets and liabilities. Actual results could differ from these estimates. The carrying amounts for cash and cash equivalents, accounts and notes receivable and accounts and drafts payable approximate fair value based on the short-term nature of these amounts. Certain prior year amounts in the accompanying Financial Statements and notes to the Financial Statements have been reclassified in order to be comparable with the current year classifications. These consist of the year to date March 31, 2020 reclassification of advertising fund contributions from Franchise and property revenues to Advertising revenues and advertising fund expenses from Selling, general and administrative expenses to Advertising expenses, with General and administrative expenses now presented separately. Depreciation and amortization expenses related to the advertising funds for the three months ended March 31, 2020 have also been reclassified from Franchise and property expenses to Advertising expenses. These reclassifications did not arise as a result of any changes to accounting policies and relate entirely to presentation with no effect on previously reported net income.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2021
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Simplifying the Accounting for Income Taxes – In December 2019, the FASB issued guidance which simplifies the accounting for income taxes by removing certain exceptions and by clarifying and amending existing guidance applicable to accounting for income taxes . The amendment is effective commencing in 2021 with early adoption permitted. The adoption of this new guidance during the three months ended March 31, 2021 did not have a material impact on our Financial Statements.

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	Leases Property revenues are comprised primarily of lease income from operating leases and earned income on direct financing leases with franchisees as follows (in millions): Three Months Ended 2021 2020 Lease income - operating leases Minimum lease payments $ 113 $ 112 Variable lease payments 66 63 Amortization of favorable and unfavorable income lease contracts, net 1 2 Subtotal - lease income from operating leases 180 177 Earned income on direct financing and sales-type leases 2 1 Total property revenues $ 182 $ 178
Leases	Leases Property revenues are comprised primarily of lease income from operating leases and earned income on direct financing leases with franchisees as follows (in millions): Three Months Ended 2021 2020 Lease income - operating leases Minimum lease payments $ 113 $ 112 Variable lease payments 66 63 Amortization of favorable and unfavorable income lease contracts, net 1 2 Subtotal - lease income from operating leases 180 177 Earned income on direct financing and sales-type leases 2 1 Total property revenues $ 182 $ 178
Leases	Leases Property revenues are comprised primarily of lease income from operating leases and earned income on direct financing leases with franchisees as follows (in millions): Three Months Ended 2021 2020 Lease income - operating leases Minimum lease payments $ 113 $ 112 Variable lease payments 66 63 Amortization of favorable and unfavorable income lease contracts, net 1 2 Subtotal - lease income from operating leases 180 177 Earned income on direct financing and sales-type leases 2 1 Total property revenues $ 182 $ 178
Leases	Leases Property revenues are comprised primarily of lease income from operating leases and earned income on direct financing leases with franchisees as follows (in millions): Three Months Ended 2021 2020 Lease income - operating leases Minimum lease payments $ 113 $ 112 Variable lease payments 66 63 Amortization of favorable and unfavorable income lease contracts, net 1 2 Subtotal - lease income from operating leases 180 177 Earned income on direct financing and sales-type leases 2 1 Total property revenues $ 182 $ 178

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Contract Liabilities Contract liabilities consist of deferred revenue resulting from initial and renewal franchise fees paid by franchisees, as well as upfront fees paid by master franchisees, which are generally recognized on a straight-line basis over the term of the underlying agreement. We may recognize unamortized upfront fees when a contract with a franchisee or master franchisee is modified and is accounted for as a termination of the existing contract. We classify these contract liabilities as Other liabilities, net in our condensed consolidated balance sheets. The following table reflects the change in contract liabilities between December 31, 2020 and March 31, 2021 (in millions): Contract Liabilities TH BK PLK Consolidated Balance at December 31, 2020 $ 62 $ 427 $ 39 $ 528 Recognized during period and included in the contract liability balance at the beginning of the year (2) (12) (1) (15) Increase, excluding amounts recognized as revenue during the period 2 9 7 18 Impact of foreign currency translation — (7) — (7) Balance at March 31, 2021 $ 62 $ 417 $ 45 $ 524 The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of March 31, 2021 (in millions): Contract liabilities expected to be recognized in TH BK PLK Consolidated Remainder of 2021 $ 7 $ 26 $ 2 $ 35 2022 9 33 3 45 2023 8 32 3 43 2024 8 31 3 42 2025 6 31 3 40 Thereafter 24 264 31 319 Total $ 62 $ 417 $ 45 $ 524 Disaggregation of Total Revenues Total revenues consist of the following (in millions): Three Months Ended 2021 2020 Sales $ 507 $ 503 Royalties 346 329 Property revenues 182 178 Franchise fees and other revenue 20 18 Advertising revenues 205 197 Total revenues $ 1,260 $ 1,225

Earnings per Unit

Earnings per Unit	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings per Unit	Earnings per Unit Partnership uses the two-class method in the computation of earnings per unit. Pursuant to the terms of the partnership agreement, RBI, as the holder of the Class A common units, is entitled to receive distributions from Partnership in an amount equal to the aggregate dividends payable by RBI to holders of RBI common shares, and the holders of Class B exchangeable limited partnership units (the “Partnership exchangeable units”) are entitled to receive distributions from Partnership in an amount per unit equal to the dividends payable by RBI on each RBI common share. Partnership’s net income available to common unitholders is allocated between the Class A common units and Partnership exchangeable units on a fully-distributed basis and reflects residual net income after noncontrolling interests and Partnership preferred unit distributions. Basic and diluted earnings per Class A common unit is determined by dividing net income allocated to Class A common unit holders by the weighted average number of Class A common units outstanding for the period. Basic and diluted earnings per Partnership exchangeable unit is determined by dividing net income allocated to the Partnership exchangeable units by the weighted average number of Partnership exchangeable units outstanding during the period. There are no dilutive securities for Partnership as RBI equity awards will not affect the number of Class A common units or Partnership exchangeable units outstanding. However, the issuance of shares by RBI in future periods will affect the allocation of net income attributable to common unitholders between Partnership’s Class A common units and Partnership exchangeable units. The following table summarizes the basic and diluted earnings per unit calculations (in millions, except per unit amounts): Three Months Ended March 31, 2021 2020 Allocation of net income among partner interests: Net income allocated to Class A common unitholders $ 179 $ 144 Net income allocated to Partnership exchangeable unitholders 91 80 Net income attributable to common unitholders $ 270 $ 224 Denominator - basic and diluted partnership units: Weighted average Class A common units 202 202 Weighted average Partnership exchangeable units 155 165 Earnings per unit - basic and diluted: Class A common units (a) $ 0.89 $ 0.71 Partnership exchangeable units (a) $ 0.59 $ 0.48 (a) Earnings per unit may not recalculate exactly as it is calculated based on unrounded numbers.

Intangible Assets, net and Good

Intangible Assets, net and Goodwill	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, net and Goodwill	Intangible Assets, net and Goodwill Intangible assets, net and goodwill consist of the following (in millions): As of March 31, 2021 December 31, 2020 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Identifiable assets subject to amortization: Franchise agreements $ 729 $ (269) $ 460 $ 735 $ (264) $ 471 Favorable leases 116 (67) 49 117 (66) 51 Subtotal 845 (336) 509 852 (330) 522 Indefinite-lived intangible assets: Tim Hortons brand $ 6,732 $ — $ 6,732 $ 6,650 $ — $ 6,650 Burger King brand 2,146 — 2,146 2,174 — 2,174 Popeyes brand 1,355 — 1,355 1,355 — 1,355 Subtotal 10,233 — 10,233 10,179 — 10,179 Intangible assets, net $ 10,742 $ 10,701 Goodwill Tim Hortons segment $ 4,329 $ 4,279 Burger King segment 606 614 Popeyes segment 846 846 Total $ 5,781 $ 5,739 Amortization expense on intangible assets totaled $10 million and $11 million for the three months ended March 31, 2021 and 2020, respectively. The change in the brands and goodwill balances during the three months ended March 31, 2021 was due to the impact of foreign currency translation.

Equity Method Investments

Equity Method Investments	3 Months Ended
	Mar. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Equity Method Investments The aggregate carrying amount of our equity method investments was $205 million as of March 31, 2021 and December 31, 2020 and is included as a component of Other assets, net in our accompanying condensed consolidated balance sheets. With respect to our TH business, the most significant equity method investment is our 50% joint venture interest with The Wendy’s Company (the “TIMWEN Partnership”), which jointly holds real estate underlying Canadian combination restaurants. Distributions received from this joint venture were $3 million and $2 million during the three months ended March 31, 2021 and 2020, respectively. Except for the following equity method investments, no quoted market prices are available for our other equity method investments. The aggregate market value of our 15.2% equity interest in Carrols Restaurant Group, Inc. (“Carrols”) based on the quoted market price on March 31, 2021 was approximately $56 million. The aggregate market value of our 9.4% equity interest in BK Brasil Operação e Assessoria a Restaurantes S.A. based on the quoted market price on March 31, 2021 was approximately $44 million. We have equity interests in entities that own or franchise Tim Hortons, Burger King and Popeyes restaurants. Franchise and property revenues recognized from franchisees that are owned or franchised by entities in which we have an equity interest consist of the following (in millions): Three Months Ended March 31, 2021 2020 Revenues from affiliates: Royalties $ 65 $ 61 Advertising revenues 13 12 Property revenues 8 8 Franchise fees and other revenue 4 3 Total $ 90 $ 84 We recognized $4 million of rent expense associated with the TIMWEN Partnership during the three months ended March 31, 2021 and 2020. At March 31, 2021 and December 31, 2020, we had $46 million and $52 million, respectively, of accounts receivable, net from our equity method investments which were recorded in Accounts and notes receivable, net in our condensed consolidated balance sheets.

Other Accrued Liabilities and O

Other Accrued Liabilities and Other Liabilities, net	3 Months Ended
	Mar. 31, 2021
Other Liabilities Disclosure [Abstract]
Other Accrued Liabilities and Other Liabilities, net	Other Accrued Liabilities and Other Liabilities, net Other accrued liabilities (current) and Other liabilities, net (noncurrent) consist of the following (in millions): As of March 31, December 31, Current: Distribution payable $ 245 $ 239 Interest payable 94 66 Accrued compensation and benefits 42 78 Taxes payable 96 122 Deferred income 44 42 Accrued advertising expenses 62 59 Restructuring and other provisions 13 12 Current portion of operating lease liabilities 136 137 Other 73 80 Other accrued liabilities $ 805 $ 835 Noncurrent: Taxes payable $ 632 $ 626 Contract liabilities 524 528 Derivatives liabilities 715 865 Unfavorable leases 77 81 Accrued pension 69 70 Deferred income 34 28 Other 38 38 Other liabilities, net $ 2,089 $ 2,236

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consists of the following (in millions): As of March 31, December 31, Term Loan B (due November 19, 2026) $ 5,283 $ 5,297 Term Loan A (due October 7, 2024) 727 731 2017 4.25% Senior Notes (due May 15, 2024) 775 775 2019 3.875% Senior Notes (due January 15, 2028) 750 750 2020 5.75% Senior Notes (due April 15, 2025) 500 500 2020 3.50% Senior Notes (due February 15, 2029) 750 750 2019 4.375% Senior Notes (due January 15, 2028) 750 750 2020 4.00% Senior Notes (due October 15, 2030) 2,900 2,900 TH Facility and other 179 178 Less: unamortized deferred financing costs and deferred issue discount (148) (155) Total debt, net 12,466 12,476 Less: current maturities of debt (80) (79) Total long-term debt $ 12,386 $ 12,397 Credit Facilities As of March 31, 2021, we had no amounts outstanding under our senior secured revolving credit facility (the “Revolving Credit Facility”), had $2 million of letters of credit issued against the Revolving Credit Facility, and our borrowing availability under our Revolving Credit Facility was $998 million. Funds available under the Revolving Credit Facility may be used to repay other debt, finance debt or RBI share repurchases or repurchases of Class B exchangeable limited partnership units, fund acquisitions or capital expenditures and for other general corporate purposes. We have a $125 million letter of credit sublimit as part of the Revolving Credit Facility, which reduces our borrowing availability thereunder by the cumulative amount of outstanding letters of credit. TH Facility One of our subsidiaries entered into a non-revolving delayed drawdown term credit facility in a total aggregate principal amount of C$225 million with a maturity date of October 4, 2025 (the “TH Facility”). The interest rate applicable to the TH Facility is the Canadian Bankers’ Acceptance rate plus an applicable margin equal to 1.40% or the Prime Rate plus an applicable margin equal to 0.40%, at our option. Obligations under the TH Facility are guaranteed by four of our subsidiaries, and amounts borrowed under the TH Facility are secured by certain parcels of real estate. As of March 31, 2021, we had outstanding C$221 million under the TH Facility with a weighted average interest rate of 1.84%. Restrictions and Covenants As of March 31, 2021, we were in compliance with all applicable financial debt covenants under our senior secured term loan facilities and Revolving Credit Facility (together the "Credit Facilities"), the TH Facility, and the indentures governing our Senior Notes. Fair Value Measurement The following table presents the fair value of our variable rate term debt and senior notes, estimated using inputs based on bid and offer prices that are Level 2 inputs, and principal carrying amount (in millions): As of March 31, December 31, Fair value of our variable term debt and senior notes $ 12,265 $ 12,477 Principal carrying amount of our variable term debt and senior notes 12,435 12,453 Interest Expense, net Interest expense, net consists of the following (in millions): Three Months Ended 2021 2020 Debt (a) $ 113 $ 113 Finance lease obligations 5 5 Amortization of deferred financing costs and debt issuance discount 7 6 Interest income (1) (5) Interest expense, net $ 124 $ 119 (a) Amount includes $12 million and $21 million benefit during the three months ended March 31, 2021 and 2020, respectively, related to the quarterly net settlements of our cross-currency rate swaps and amortization of the Excluded Component as defined in Note 13, Derivatives .

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate was 14.7% for the three months ended March 31, 2021. The effective tax rate during this period reflects the mix of income from multiple tax jurisdictions, the impact of internal financing arrangements and the excess tax benefits from equity-based compensation. Our effective tax rate was 16.8% for the three months ended March 31, 2020. The effective tax rate during this period reflects the amount and mix of income from multiple tax jurisdictions and the impact of internal financing arrangements.

Equity

Equity	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Equity	Equity During the three months ended March 31, 2021, Partnership exchanged 72,671 Partnership exchangeable units pursuant to exchange notices received. In accordance with the terms of the partnership agreement, Partnership satisfied the exchange notices by exchanging these Partnership exchangeable units for the same number of newly issued RBI common shares. The issuances of shares were accounted for as capital contributions by RBI to Partnership. The exchanges of Partnership exchangeable units were recorded as increases to the Class A common units balance within partners’ capital in our consolidated balance sheet in an amount equal to the market value of the newly issued RBI common shares and a reduction to the Partnership exchangeable units balance within partners’ capital of our consolidated balance sheet in an amount equal to the cash paid by Partnership, if any, and the market value of the newly issued RBI common shares. Pursuant to the terms of the partnership agreement, upon the exchange of Partnership exchangeable units, each such Partnership exchangeable unit is automatically deemed cancelled concurrently with the exchange. Accumulated Other Comprehensive Income (Loss) The following table displays the changes in the components of accumulated other comprehensive income (loss) (“AOCI”) (in millions): Derivatives Pensions Foreign Currency Translation Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2020 $ (107) $ (45) $ (1,123) $ (1,275) Foreign currency translation adjustment — — 54 54 Net change in fair value of derivatives, net of tax 124 — — 124 Amounts reclassified to earnings of cash flow hedges, net of tax 24 — — 24 Pension and post-retirement benefit plans, net of tax — 1 — 1 Balance at March 31, 2021 $ 41 $ (44) $ (1,069) $ (1,072)

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments Disclosures about Derivative Instruments and Hedging Activities We enter into derivative instruments for risk management purposes, including derivatives designated as cash flow hedges, derivatives designated as net investment hedges and those utilized as economic hedges. We use derivatives to manage our exposure to fluctuations in interest rates and currency exchange rates. Interest Rate Swaps At March 31, 2021, we had outstanding receive-variable, pay-fixed interest rate swaps with a total notional value of $3,500 million to hedge the variability in the interest payments on a portion of our senior secured term loan facilities (the “Term Loan Facilities”) beginning October 31, 2019 through the termination date of November 19, 2026. Additionally, at March 31, 2021, we also had outstanding receive-variable, pay-fixed interest rate swaps with a total notional value of $500 million to hedge the variability in the interest payments on a portion of our Term Loan Facilities effective September 30, 2019 through the termination date of September 30, 2026. At inception, all of these interest rate swaps were designated as cash flow hedges for hedge accounting. The unrealized changes in market value are recorded in AOCI and reclassified into earnings during the period in which the hedged forecasted transaction affects earnings. During 2019, we extended the term of our previous $3,500 million receive-variable, pay-fixed interest rate swaps to align the maturity date of the new interest rate swaps with the new maturity date of our Term Loan B. The extension of the term resulted in a de-designation and re-designation of the interest rate swaps and the swaps continue to be accounted for as a cash flow hedge for hedge accounting. In connection with the de-designation, we recognized a net unrealized loss of $213 million in AOCI and this amount gets reclassified into Interest expense, net as the original forecasted transaction affects earnings. The amount of pre-tax losses in AOCI as of March 31, 2021 that we expect to be reclassified into interest expense within the next 12 months is $50 million. During 2015, we settled certain interest rate swaps and recognized a net unrealized loss of $85 million in AOCI at the date of settlement. This amount gets reclassified into Interest expense, net as the original hedged forecasted transaction affects earnings. The amount of pre-tax losses in AOCI as of March 31, 2021 that we expect to be reclassified into interest expense within the next 12 months is $8 million. Cross-Currency Rate Swaps To protect the value of our investments in our foreign operations against adverse changes in foreign currency exchange rates, we hedge a portion of our net investment in one or more of our foreign subsidiaries by using cross-currency rate swaps. At March 31, 2021, we had outstanding cross-currency rate swap contracts between the Canadian dollar and U.S. dollar and the Euro and U.S. dollar that have been designated as net investment hedges of a portion of our equity in foreign operations in those currencies. The component of the gains and losses on our net investment in these designated foreign operations driven by changes in foreign exchange rates are economically partly offset by movements in the fair value of our cross-currency swap contracts. The fair value of the swaps is calculated each period with changes in fair value reported in AOCI, net of tax. Such amounts will remain in AOCI until the complete or substantially complete liquidation of our investment in the underlying foreign operations. At March 31, 2021, we had outstanding fixed-to-fixed cross-currency rate swaps to partially hedge the net investment in our Canadian subsidiaries. At inception, these cross-currency rate swaps were designated as a hedge and are accounted for as net investment hedges. These swaps are contracts to exchange quarterly fixed-rate interest payments we make on the Canadian dollar notional amount of C$6,754 million for quarterly fixed-rate interest payments we receive on the U.S. dollar notional amount of $5,000 million through the maturity date of June 30, 2023. At March 31, 2021, we had outstanding cross-currency rate swaps in which we pay quarterly fixed-rate interest payments on the Euro notional value of €1,108 million and receive quarterly fixed-rate interest payments on the U.S. dollar notional value of $1,200 million. At inception, these cross-currency rate swaps were designated as a hedge and are accounted for as a net investment hedge. During 2018, we extended the term of the swaps from March 31, 2021 to the maturity date of February 17, 2024. The extension of the term resulted in a re-designation of the hedge and the swaps continue to be accounted for as a net investment hedge. Additionally, at March 31, 2021, we also had outstanding cross-currency rate swaps in which we receive quarterly fixed-rate interest payments on the U.S. dollar notional value of $400 million, entered during 2018, and $500 million, entered during 2019, through the maturity date of February 17, 2024. At inception, these cross-currency rate swaps were designated as a hedge and are accounted for as a net investment hedge. The fixed to fixed cross-currency rate swaps hedging Canadian dollar and Euro net investments utilized the forward method of effectiveness assessment prior to March 15, 2018. On March 15, 2018, we de-designated and subsequently re-designated the outstanding fixed to fixed cross-currency rate swaps to prospectively use the spot method of hedge effectiveness assessment. Additionally, as a result of adopting new hedge accounting guidance during 2018, we elected to exclude the interest component (the “Excluded Component”) from the accounting hedge without affecting net investment hedge accounting and elected to amortize the Excluded Component over the life of the derivative instrument. The amortization of the Excluded Component is recognized in Interest expense, net in the condensed consolidated statement of operations. The change in fair value that is not related to the Excluded Component is recorded in AOCI and will be reclassified to earnings when the foreign subsidiaries are sold or substantially liquidated. Foreign Currency Exchange Contracts We use foreign exchange derivative instruments to manage the impact of foreign exchange fluctuations on U.S. dollar purchases and payments, such as coffee purchases made by our Canadian Tim Hortons operations. At March 31, 2021, we had outstanding forward currency contracts to manage this risk in which we sell Canadian dollars and buy U.S. dollars with a notional value of $124 million with maturities to May 2022. We have designated these instruments as cash flow hedges, and as such, the unrealized changes in market value of effective hedges are recorded in AOCI and are reclassified into earnings during the period in which the hedged forecasted transaction affects earnings. Credit Risk By entering into derivative contracts, we are exposed to counterparty credit risk. Counterparty credit risk is the failure of the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is in an asset position, the counterparty has a liability to us, which creates credit risk for us. We attempt to minimize this risk by selecting counterparties with investment grade credit ratings and regularly monitoring our market position with each counterparty. Credit-Risk Related Contingent Features Our derivative instruments do not contain any credit-risk related contingent features. Quantitative Disclosures about Derivative Instruments and Fair Value Measurements The following tables present the required quantitative disclosures for our derivative instruments, including their estimated fair values (all estimated using Level 2 inputs) and their location on our condensed consolidated balance sheets (in millions): Gain or (Loss) Recognized in Other Comprehensive Income (Loss) Three Months Ended March 31, 2021 2020 Derivatives designated as cash flow hedges (1) Interest rate swaps $ 129 $ (300) Forward-currency contracts $ (1) $ 7 Derivatives designated as net investment hedges Cross-currency rate swaps $ 9 $ 517 (1) We did not exclude any components from the cash flow hedge relationships presented in this table. Location of Gain or (Loss) Reclassified from AOCI into Earnings Gain or (Loss) Reclassified from Three Months Ended March 31, 2021 2020 Derivatives designated as cash flow hedges Interest rate swaps Interest expense, net $ (30) $ (15) Forward-currency contracts Cost of sales $ (2) $ — Location of Gain or (Loss) Recognized in Earnings Gain or (Loss) Recognized in Earnings Three Months Ended March 31, 2021 2020 Derivatives designated as net investment hedges Cross-currency rate swaps Interest expense, net $ 12 $ 21 Fair Value as of March 31, December 31, 2020 Balance Sheet Location Assets: Derivatives designated as net investment hedges Foreign currency $ 13 $ — Other assets, net Total assets at fair value $ 13 $ — Liabilities: Derivatives designated as cash flow hedges Interest rate $ 279 $ 430 Other liabilities, net Foreign currency 4 5 Other accrued liabilities Derivatives designated as net investment hedges Foreign currency 436 434 Other liabilities, net Total liabilities at fair value $ 719 $ 869

Other Operating Expenses (Incom

Other Operating Expenses (Income), net	3 Months Ended
	Mar. 31, 2021
Other Income and Expenses [Abstract]
Other Operating Expenses (Income), net	Other Operating Expenses (Income), net Other operating expenses (income), net consist of the following (in millions): Three Months Ended March 31, 2021 2020 Net losses (gains) on disposal of assets, restaurant closures, and refranchisings $ (2) $ (2) Litigation settlements (gains) and reserves, net 2 — Net losses (gains) on foreign exchange (43) (8) Other, net 1 (6) Other operating expenses (income), net $ (42) $ (16) Net losses (gains) on disposal of assets, restaurant closures, and refranchisings represent sales of properties and other costs related to restaurant closures and refranchisings. Gains and losses recognized in the current period may reflect certain costs related to closures and refranchisings that occurred in previous periods. Net losses (gains) on foreign exchange is primarily related to revaluation of foreign denominated assets and liabilities.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation From time to time, we are involved in legal proceedings arising in the ordinary course of business relating to matters including, but not limited to, disputes with franchisees, suppliers, employees and customers, as well as disputes over our intellectual property. On October 5, 2018, a class action complaint was filed against Burger King Worldwide, Inc. (“BKW”) and Burger King Corporation (“BKC”) in the U.S. District Court for the Southern District of Florida by Jarvis Arrington, individually and on behalf of all others similarly situated. On October 18, 2018, a second class action complaint was filed against RBI, BKW and BKC in the U.S. District Court for the Southern District of Florida by Monique Michel, individually and on behalf of all others similarly situated. On October 31, 2018, a third class action complaint was filed against BKC and BKW in the U.S. District Court for the Southern District of Florida by Geneva Blanchard and Tiffany Miller, individually and on behalf of all others similarly situated. On November 2, 2018, a fourth class action complaint was filed against RBI, BKW and BKC in the U.S. District Court for the Southern District of Florida by Sandra Muster, individually and on behalf of all others similarly situated. These complaints have been consolidated and allege that the defendants violated Section 1 of the Sherman Act by incorporating an employee no-solicitation and no-hiring clause in the standard form franchise agreement all Burger King franchisees are required to sign. Each plaintiff seeks injunctive relief and damages for himself or herself and other members of the class. On March 24, 2020, the Court granted BKC’s motion to dismiss for failure to state a claim and on April 20, 2020 the plaintiffs filed a motion for leave to amend their complaint. On April 27, 2020, BKC filed a motion opposing the motion for leave to amend. The court denied the plaintiffs motion for leave to amend their complaint in August 2020 and the plaintiffs are appealing this ruling. While we currently believe these claims are without merit, we are unable to predict the ultimate outcome of this case or estimate the range of possible loss, if any. In July 2019, a class action complaint was filed against The TDL Group Corp. (“TDL”) in the Supreme Court of British Columbia by Samir Latifi, individually and on behalf of all others similarly situated. The complaint alleges that TDL violated the Canadian Competition Act by incorporating an employee no-solicitation and no-hiring clause in the standard form franchise agreement all Tim Hortons franchisees are required to sign. The plaintiff seeks damages and restitution, on behalf of himself and other members of the class. In February 2021, TDL filed and served an application to strike which is scheduled to be heard in May 2021. While we currently believe this claim is without merit, we are unable to predict the ultimate outcome of this case or estimate the range of possible loss, if any. On June 30, 2020, a class action complaint was filed against Restaurant Brands International Inc., Restaurant Brands International Limited Partnership and The TDL Group Corp. in the Quebec Superior Court by Steve Holcman, individually and on behalf of all Quebec residents who downloaded the Tim Hortons mobile application. On July 2, 2020, a Notice of Action related to a second class action complaint was filed against Restaurant Brands International Inc., in the Ontario Superior Court by Ashley Sitko and Ashley Cadeau, individually and on behalf of all Canadian residents who downloaded the Tim Hortons mobile application. On August 31, 2020, a notice of claim was filed against Restaurant Brands International Inc. in the Supreme Court of British Columbia by Wai Lam Jacky Law on behalf of all persons in Canada who downloaded the Tim Hortons mobile application or the Burger King mobile application. On September 30, 2020, a notice of action was filed against Restaurant Brands International Inc., Restaurant Brands International Limited Partnership, The TDL Group Corp., Burger King Worldwide, Inc. and Popeyes Louisiana Kitchen, Inc. in the Ontario Superior Court of Justice by William Jung on behalf of a to be determined class. All of the complaints allege that the defendants violated the plaintiff’s privacy rights, the Personal Information Protection and Electronic Documents Act, consumer protection and competition laws or app-based undertakings to users, in each case in connection with the collection of geolocation data through the Tim Hortons mobile application, and in certain cases, the Burger King and Popeyes mobile applications. Each plaintiff seeks injunctive relief and monetary damages for himself or herself and other members of the class. These cases are in preliminary stages and we intend to vigorously defend against these lawsuits, but we are unable to predict the ultimate outcome of any of these cases or estimate the range of possible loss, if any. On October 26, 2020, City of Warwick Municipal Employees Pension Fund, a purported stockholder of Restaurant Brands International Inc., individually and putatively on behalf of all other stockholders similarly situated, filed a lawsuit in the Supreme Court of the State of New York County of New York naming RBI and certain of its officers, directors and shareholders as defendants alleging violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933, as amended, in connection with certain offerings of securities by an affiliate in August and September 2019. The complaint alleges that the shelf registration statement used in connection with such offering contained certain false and/or misleading statements or omissions. The complaint seeks, among other relief, class certification of the lawsuit, unspecified compensatory damages, rescission, pre-judgement and post-judgement interest, costs and expenses. On December 18, 2020 the plaintiffs filed an amended complaint and on February 16, 2021 RBI filed a motion to dismiss the complaint. The plaintiffs filed a brief in opposition to the motion on April 19, 2021. We intend to vigorously defend. While we believe these claims are without merit, we are unable to predict the ultimate outcome of this case or estimate the range of possible loss, if any. On February 5, 2021, Paul J. Graney, a purported shareholder of Restaurant Brands International, individually and putatively on behalf of all other stockholders similarly situated, filed a lawsuit in the U.S. District Court for the Southern District of Florida naming RBI and certain of its current or former officers as defendants. This lawsuit alleged violations of Sections 10 and 20(a) of the Securities Exchange Act of 1934, as amended, in connection with certain statements made beginning in April 2019. On April 26, 2021, the lead plaintiff filed a stipulation voluntarily dismissing the case, which the Court so ordered on April 27, 2021.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting As stated in Note 1, Description of Business and Organization , we manage three brands. Under the Tim Hortons brand, we operate in the donut/coffee/tea category of the quick service segment of the restaurant industry. Under the Burger King brand, we operate in the fast food hamburger restaurant category of the quick service segment of the restaurant industry. Under the Popeyes brand, we operate in the chicken category of the quick service segment of the restaurant industry. Our business generates revenue from the following sources: (i) franchise and advertising revenues, consisting primarily of royalties and advertising fund contributions based on a percentage of sales reported by franchise restaurants and franchise fees paid by franchisees; (ii) property revenues from properties we lease or sublease to franchisees; and (iii) sales at restaurants owned by us (“Company restaurants”). In addition, our TH business generates revenue from sales to franchisees related to our supply chain operations, including manufacturing, procurement, warehousing and distribution, as well as sales to retailers. We manage each of our brands as an operating segment and each operating segment represents a reportable segment. The following tables present revenues, by segment and by country (in millions): Three Months Ended 2021 2020 Revenues by operating segment: TH $ 710 $ 699 BK 407 388 PLK 143 138 Total revenues $ 1,260 $ 1,225 Three Months Ended 2021 2020 Revenues by country (a): Canada $ 638 $ 632 United States 478 450 Other 144 143 Total revenues $ 1,260 $ 1,225 (a) Only Canada and the United States represented 10% or more of our total revenues in each period presented. Our measure of segment income is Adjusted EBITDA. Adjusted EBITDA represents earnings (net income or loss) before interest expense, net, loss on early extinguishment of debt, income tax expense, and depreciation and amortization, adjusted to exclude (i) the non-cash impact of share-based compensation and non-cash incentive compensation expense, (ii) (income) loss from equity method investments, net of cash distributions received from equity method investments, (iii) other operating expenses (income), net and, (iv) income/expenses from non-recurring projects and non-operating activities. For the periods referenced, this included costs incurred from professional advisory and consulting services associated with certain transformational corporate restructuring initiatives that rationalize our structure and optimize cash movements, including consulting services related to the interpretation of final and proposed regulations and guidance under the Tax Cuts and Jobs Act (“Corporate restructuring and tax advisory fees”). Adjusted EBITDA is used by management to measure operating performance of the business, excluding these non-cash and other specifically identified items that management believes are not relevant to management’s assessment of our operating business. A reconciliation of segment income to net income consists of the following (in millions): Three Months Ended 2021 2020 Segment income: TH $ 207 $ 189 BK 217 200 PLK 56 55 Adjusted EBITDA 480 444 Share-based compensation and non-cash incentive compensation expense 26 21 Corporate restructuring and tax advisory fees 1 1 Impact of equity method investments (a) 4 4 Other operating expenses (income), net (42) (16) EBITDA 491 434 Depreciation and amortization 49 45 Income from operations 442 389 Interest expense, net 124 119 Income tax expense 47 46 Net income $ 271 $ 224 (a) Represents (i) (income) loss from equity method investments and (ii) cash distributions received from our equity method investments. Cash distributions received from our equity method investments are included in segment income.

Supplemental Financial Informat

Supplemental Financial Information	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Financial Information	Supplemental Financial Information On February 17, 2017, 1011778 B.C. Unlimited Liability Company (the “Parent Issuer”) and New Red Finance Inc. (the “Co-Issuer” and together with the Parent Issuer, the “Issuers”) entered into an amended credit agreement, as amended from time to time, that provides for obligations under the Credit Facilities. On November 9, 2020, the Issuers entered into the 2020 3.50% Senior Notes Indenture with respect to the 2020 3.50% Senior Notes. On October 5, 2020, the Issuers entered into the 2020 4.00% Senior Notes Indenture with respect to the 2020 4.00% Senior Notes. On April 7, 2020, the Issuers entered into the 2020 5.75% Senior Notes Indenture with respect to the 2020 5.75% Senior Notes. On November 19, 2019, the Issuers entered into the 2019 4.375% Senior Notes Indenture with respect to the 2019 4.375% Senior Notes. On September 24, 2019, the Issuers entered into the 2019 3.875% Senior Notes Indenture with respect to the 2019 3.875% Senior Notes. On May 17, 2017, the Issuers entered into the 2017 4.25% Senior Notes Indenture with respect to the 2017 4.250% Senior Notes. The agreement governing our Credit Facilities, the 2020 3.50% Senior Notes Indenture, the 2020 4.00% Senior Notes Indenture, the 2020 5.75% Senior Notes Indenture, the 2019 4.375% Senior Notes Indenture, the 2019 3.875% Senior Notes Indenture, and the 2017 4.25% Senior Notes Indenture allow the financial reporting obligation of the Parent Issuer to be satisfied through the reporting of Partnership’s consolidated financial information, provided that the consolidated financial information of the Parent Issuer and its restricted subsidiaries is presented on a standalone basis. The following represents the condensed consolidating financial information for the Parent Issuer and its restricted subsidiaries (“Consolidated Borrowers”) on a consolidated basis, together with eliminations, as of and for the periods indicated. The condensed consolidating financial information of Partnership is combined with the financial information of its wholly-owned subsidiaries that are also parent entities of the Parent Issuer and presented in a single column under the heading “RBILP”. The consolidating financial information may not necessarily be indicative of the financial position, results of operations or cash flows had the Issuers and Partnership operated as independent entities. RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidating Balance Sheets (In millions of U.S. dollars) As of March 31, 2021 Consolidated Borrowers RBILP Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 1,563 $ — $ — $ 1,563 Accounts and notes receivable, net 519 — — 519 Inventories, net 98 — — 98 Prepaids and other current assets 111 — — 111 Total current assets 2,291 — — 2,291 Property and equipment, net 2,028 — — 2,028 Operating lease assets, net 1,140 — — 1,140 Intangible assets, net 10,742 — — 10,742 Goodwill 5,781 — — 5,781 Net investment in property leased to franchisees 67 — — 67 Intercompany receivable — 245 (245) — Investment in subsidiaries — 4,002 (4,002) — Other assets, net 808 — — 808 Total assets $ 22,857 $ 4,247 $ (4,247) $ 22,857 LIABILITIES AND EQUITY Current liabilities: Accounts and drafts payable $ 488 $ — $ — $ 488 Other accrued liabilities 560 245 — 805 Gift card liability 147 — — 147 Current portion of long-term debt and finance leases 112 — — 112 Total current liabilities 1,307 245 — 1,552 Long-term debt, net of current portion 12,386 — — 12,386 Finance leases, net of current portion 318 — — 318 Operating lease liabilities, net of current portion 1,075 — — 1,075 Other liabilities, net 2,089 — — 2,089 Payables to affiliates 245 — (245) — Deferred income taxes, net 1,435 — — 1,435 Total liabilities 18,855 245 (245) 18,855 Partners’ capital: Class A common units — 8,066 — 8,066 Partnership exchangeable units — (2,998) — (2,998) Common shares 3,077 — (3,077) — Retained Earnings 1,991 — (1,991) — Accumulated other comprehensive income (loss) (1,072) (1,072) 1,072 (1,072) Total Partners' capital/shareholders' equity 3,996 3,996 (3,996) 3,996 Noncontrolling interests 6 6 (6) 6 Total equity 4,002 4,002 (4,002) 4,002 Total liabilities and equity $ 22,857 $ 4,247 $ (4,247) $ 22,857 RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidating Balance Sheets (In millions of U.S. dollars) As of December 31, 2020 Consolidated Borrowers RBILP Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 1,560 $ — $ — $ 1,560 Accounts and notes receivable, net 536 — — 536 Inventories, net 96 — — 96 Prepaids and other current assets 72 — — 72 Total current assets 2,264 — — 2,264 Property and equipment, net 2,031 — — 2,031 Operating lease assets. net 1,152 — — 1,152 Intangible assets, net 10,701 — — 10,701 Goodwill 5,739 — — 5,739 Net investment in property leased to franchisees 66 — — 66 Intercompany receivable — 239 (239) — Investment in subsidiaries — 3,721 (3,721) — Other assets, net 824 — — 824 Total assets $ 22,777 $ 3,960 $ (3,960) $ 22,777 LIABILITIES AND EQUITY Current liabilities: Accounts and drafts payable $ 464 $ — $ — $ 464 Other accrued liabilities 596 239 — 835 Gift card liability 191 — — 191 Current portion of long-term debt and finance leases 111 — — 111 Total current liabilities 1,362 239 — 1,601 Long-term debt, net of current portion 12,397 — — 12,397 Finance leases, net of current portion 315 — — 315 Operating lease liabilities, net of current portion 1,082 — — 1,082 Other liabilities, net 2,236 — — 2,236 Payables to affiliates 239 — (239) — Deferred income taxes, net 1,425 — — 1,425 Total liabilities 19,056 239 (239) 19,056 Partners’ capital: Class A common units — 7,994 — 7,994 Partnership exchangeable units — (3,002) — (3,002) Common shares 3,026 — (3,026) — Retained Earnings 1,966 — (1,966) — Accumulated other comprehensive income (loss) (1,275) (1,275) 1,275 (1,275) Total Partners' capital/shareholders' equity 3,717 3,717 (3,717) 3,717 Noncontrolling interests 4 4 (4) 4 Total equity 3,721 3,721 (3,721) 3,721 Total liabilities and equity $ 22,777 $ 3,960 $ (3,960) $ 22,777 RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidating Statements of Operations (In millions of U.S. dollars) Three Months Ended March 31, 2021 Consolidated Borrowers RBILP Eliminations Consolidated Revenues: Sales $ 507 $ — $ — $ 507 Franchise and property revenues 548 — — 548 Advertising revenues 205 — — 205 Total revenues 1,260 — — 1,260 Operating costs and expenses: Cost of sales 401 — — 401 Franchise and property expenses 116 — — 116 Advertising expenses 236 — — 236 General and administrative expenses 105 — — 105 (Income) loss from equity method investments 2 — — 2 Other operating expenses (income), net (42) — — (42) Total operating costs and expenses 818 — — 818 Income from operations 442 — — 442 Interest expense, net 124 — — 124 Income before income taxes 318 — — 318 Income tax expense 47 — — 47 Net income 271 — — 271 Equity in earnings of consolidated subsidiaries — 271 (271) — Net income (loss) 271 271 (271) 271 Net income (loss) attributable to noncontrolling interests 1 1 (1) 1 Net income (loss) attributable to common unitholders $ 270 $ 270 $ (270) $ 270 Comprehensive income (loss) $ 474 $ 474 $ (474) $ 474 RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidating Statements of Operations (In millions of U.S. dollars) Three Months Ended March 31, 2020 Consolidated Borrowers RBILP Eliminations Consolidated Revenues: Sales $ 503 $ — $ — $ 503 Franchise and property revenues 525 — — 525 Advertising revenues 197 — — 197 Total revenues 1,225 — — 1,225 Operating costs and expenses: Cost of sales 399 — — 399 Franchise and property expenses 123 — — 123 Advertising expenses 226 — — 226 General and administrative expenses 102 — — 102 (Income) loss from equity method investments 2 — — 2 Other operating expenses (income), net (16) — — (16) Total operating costs and expenses 836 — — 836 Income from operations 389 — — 389 Interest expense, net 119 — — 119 Income before income taxes 270 — — 270 Income tax expense 46 — — 46 Net income 224 — — 224 Equity in earnings of consolidated subsidiaries — 224 (224) — Net income (loss) 224 224 (224) 224 Net income (loss) attributable to noncontrolling interests — — — — Net income (loss) attributable to common unitholders $ 224 $ 224 $ (224) $ 224 Comprehensive income (loss) $ (319) $ (319) $ 319 $ (319) RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidating Statements of Cash Flows (In millions of U.S. dollars) Three months ended March 31, 2021 Consolidated Borrowers RBILP Eliminations Consolidated Cash flows from operating activities: Net income $ 271 $ 271 $ (271) $ 271 Adjustments to reconcile net income to net cash provided by (used for) operating activities: Equity in loss (earnings) of consolidated subsidiaries — (271) 271 — Depreciation and amortization 49 — — 49 Amortization of deferred financing costs and debt issuance discount 7 — — 7 (Income) loss from equity method investments 2 — — 2 (Gain) loss on remeasurement of foreign denominated transactions (43) — — (43) Net (gains) losses on derivatives 20 — — 20 Share-based compensation expense 22 — — 22 Deferred income taxes 14 — — 14 Other (8) — — (8) Changes in current assets and liabilities, excluding acquisitions and dispositions: Accounts and notes receivable 24 — — 24 Inventories and prepaids and other current assets (4) — — (4) Accounts and drafts payable 19 — — 19 Other accrued liabilities and gift card liability (113) — — (113) Other long-term assets and liabilities 6 — — 6 Net cash provided by (used for) operating activities 266 — — 266 Cash flows from investing activities: Payments for property and equipment (15) — — (15) Net proceeds from disposal of assets, restaurant closures, and refranchisings 11 — — 11 Settlement/sale of derivatives, net 2 — — 2 Other investing activities, net (5) — — (5) Net cash provided by (used for) investing activities (7) — — (7) Cash flows from financing activities: Repayments of long-term debt and finance leases (27) — — (27) Distributions on Class A common and Partnership exchangeable units — (239) — (239) Capital contribution from RBI 20 — — 20 Distributions from subsidiaries (239) 239 — — (Payments) proceeds from derivatives (16) — — (16) Other financing activities, net 1 — — 1 Net cash provided by (used for) financing activities (261) — — (261) Effect of exchange rates on cash and cash equivalents 5 — — 5 Increase (decrease) in cash and cash equivalents 3 — — 3 Cash and cash equivalents at beginning of period 1,560 — — 1,560 Cash and cash equivalents at end of period $ 1,563 $ — $ — $ 1,563 RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidating Statements of Cash Flows (In millions of U.S. dollars) Three Months Ended March 31, 2020 Consolidated Borrowers RBILP Eliminations Consolidated Cash flows from operating activities: Net income $ 224 $ 224 $ (224) $ 224 Adjustments to reconcile net income to net cash provided by (used for) operating activities: Equity in loss (earnings) of consolidated subsidiaries — (224) 224 — Depreciation and amortization 45 — — 45 Amortization of deferred financing costs and debt issuance discount 6 — — 6 (Income) loss from equity method investments 2 — — 2 (Gain) loss on remeasurement of foreign denominated transactions (8) — — (8) Net (gains) losses on derivatives (6) — — (6) Share-based compensation expense 19 — — 19 Deferred income taxes (31) — — (31) Other (4) — — (4) Changes in current assets and liabilities, excluding acquisitions and dispositions: Accounts and notes receivable 94 — — 94 Inventories and prepaids and other current assets (13) — — (13) Accounts and drafts payable (136) — — (136) Other accrued liabilities and gift card liability (67) — — (67) Tenant inducements paid to franchisees (3) — — (3) Other long-term assets and liabilities 14 — — 14 Net cash provided by (used for) operating activities 136 — — 136 Cash flows from investing activities: Payments for property and equipment (19) — — (19) Net proceeds from disposal of assets, restaurant closures, and refranchisings 4 — — 4 Settlement/sale of derivatives, net 12 — — 12 Net cash provided by (used for) investing activities (3) — — (3) Cash flows from financing activities: Proceeds from revolving line of credit and long-term debt 1,085 — — 1,085 Repayments of revolving line of credit, long-term debt and finance leases (25) — — (25) Distributions on Class A common and Partnership exchangeable units — (232) — (232) Capital contribution from RBI 30 — — 30 Distributions from subsidiaries (232) 232 — — (Payments) proceeds from derivatives (2) — — (2) Other financing activities, net (1) — — (1) Net cash provided by (used for) financing activities 855 — — 855 Effect of exchange rates on cash and cash equivalents (23) — — (23) Increase (decrease) in cash and cash equivalents 965 — — 965 Cash and cash equivalents at beginning of period 1,533 — — 1,533 Cash and cash equivalents at end of period $ 2,498 $ — $ — $ 2,498

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Cash Distributions/Dividends On April 6, 2021, RBI paid a cash dividend of $0.53 per RBI common share to common shareholders of record on March 23, 2021. Partnership made a distribution to RBI as holder of Class A common units in the amount of the aggregate dividends declared and paid by RBI on RBI common shares and also made a distribution in respect of each Partnership exchangeable unit in the amount of $0.53 per exchangeable unit to holders of record on March 23, 2021.

Basis of Presentation and Con_2

Basis of Presentation and Consolidation (Policies)	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting	We have prepared the accompanying unaudited condensed consolidated financial statements (the “Financial Statements”) in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements. Therefore, the Financial Statements should be read in conjunction with the audited consolidated financial statements contained in our Annual Report on Form 10-K filed with the SEC and Canadian securities regulatory authorities on February 23, 2021.
Consolidation, Variable Interest Entity	We also consider for consolidation entities in which we have certain interests, where the controlling financial interest may be achieved through arrangements that do not involve voting interests. Such an entity, known as a variable interest entity (“VIE”), is required to be consolidated by its primary beneficiary. The primary beneficiary is the entity that possesses the power to direct the activities of the VIE that most significantly impact its economic performance and has the obligation to absorb losses or the right to receive benefits from the VIE that are significant to it. Our maximum exposure to loss resulting from involvement with VIEs is attributable to accounts and notes receivable balances, outstanding loan guarantees and future lease payments, where applicable. As our franchise and master franchise arrangements provide the franchise and master franchise entities the power to direct the activities that most significantly impact their economic performance, we do not consider ourselves the primary beneficiary of any such entity that might be a VIE.
Use of Estimates	The preparation of consolidated financial statements in conformity with U.S. GAAP and related rules and regulations of the SEC requires our management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the related disclosure of contingent assets and liabilities. Actual results could differ from these estimates. The carrying amounts for cash and cash equivalents, accounts and notes receivable and accounts and drafts payable approximate fair value based on the short-term nature of these amounts.
New Accounting Pronouncements	New Accounting Pronouncements Simplifying the Accounting for Income Taxes – In December 2019, the FASB issued guidance which simplifies the accounting for income taxes by removing certain exceptions and by clarifying and amending existing guidance applicable to accounting for income taxes . The amendment is effective commencing in 2021 with early adoption permitted. The adoption of this new guidance during the three months ended March 31, 2021 did not have a material impact on our Financial Statements.
Contract Liabilities	Contract liabilities consist of deferred revenue resulting from initial and renewal franchise fees paid by franchisees, as well as upfront fees paid by master franchisees, which are generally recognized on a straight-line basis over the term of the underlying agreement. We may recognize unamortized upfront fees when a contract with a franchisee or master franchisee is modified and is accounted for as a termination of the existing contract. We classify these contract liabilities as Other liabilities, net in our condensed consolidated balance sheets.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Schedule of property revenues	Property revenues are comprised primarily of lease income from operating leases and earned income on direct financing leases with franchisees as follows (in millions): Three Months Ended 2021 2020 Lease income - operating leases Minimum lease payments $ 113 $ 112 Variable lease payments 66 63 Amortization of favorable and unfavorable income lease contracts, net 1 2 Subtotal - lease income from operating leases 180 177 Earned income on direct financing and sales-type leases 2 1 Total property revenues $ 182 $ 178

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Change in contract liabilities	The following table reflects the change in contract liabilities between December 31, 2020 and March 31, 2021 (in millions): Contract Liabilities TH BK PLK Consolidated Balance at December 31, 2020 $ 62 $ 427 $ 39 $ 528 Recognized during period and included in the contract liability balance at the beginning of the year (2) (12) (1) (15) Increase, excluding amounts recognized as revenue during the period 2 9 7 18 Impact of foreign currency translation — (7) — (7) Balance at March 31, 2021 $ 62 $ 417 $ 45 $ 524
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) as of March 31, 2021 (in millions): Contract liabilities expected to be recognized in TH BK PLK Consolidated Remainder of 2021 $ 7 $ 26 $ 2 $ 35 2022 9 33 3 45 2023 8 32 3 43 2024 8 31 3 42 2025 6 31 3 40 Thereafter 24 264 31 319 Total $ 62 $ 417 $ 45 $ 524
Disaggregation of total revenues	Total revenues consist of the following (in millions): Three Months Ended 2021 2020 Sales $ 507 $ 503 Royalties 346 329 Property revenues 182 178 Franchise fees and other revenue 20 18 Advertising revenues 205 197 Total revenues $ 1,260 $ 1,225

Earnings per Unit (Tables)

Earnings per Unit (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Basic and Diluted Earnings Per Unit	The following table summarizes the basic and diluted earnings per unit calculations (in millions, except per unit amounts): Three Months Ended March 31, 2021 2020 Allocation of net income among partner interests: Net income allocated to Class A common unitholders $ 179 $ 144 Net income allocated to Partnership exchangeable unitholders 91 80 Net income attributable to common unitholders $ 270 $ 224 Denominator - basic and diluted partnership units: Weighted average Class A common units 202 202 Weighted average Partnership exchangeable units 155 165 Earnings per unit - basic and diluted: Class A common units (a) $ 0.89 $ 0.71 Partnership exchangeable units (a) $ 0.59 $ 0.48 (a) Earnings per unit may not recalculate exactly as it is calculated based on unrounded numbers.

Intangible Assets, net and Go_2

Intangible Assets, net and Goodwill (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets, Net and Goodwill	Intangible assets, net and goodwill consist of the following (in millions): As of March 31, 2021 December 31, 2020 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Identifiable assets subject to amortization: Franchise agreements $ 729 $ (269) $ 460 $ 735 $ (264) $ 471 Favorable leases 116 (67) 49 117 (66) 51 Subtotal 845 (336) 509 852 (330) 522 Indefinite-lived intangible assets: Tim Hortons brand $ 6,732 $ — $ 6,732 $ 6,650 $ — $ 6,650 Burger King brand 2,146 — 2,146 2,174 — 2,174 Popeyes brand 1,355 — 1,355 1,355 — 1,355 Subtotal 10,233 — 10,233 10,179 — 10,179 Intangible assets, net $ 10,742 $ 10,701 Goodwill Tim Hortons segment $ 4,329 $ 4,279 Burger King segment 606 614 Popeyes segment 846 846 Total $ 5,781 $ 5,739

Equity Method Investments (Tabl

Equity Method Investments (Tables)	3 Months Ended
	Mar. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Summary of Franchise and Property Revenues	We have equity interests in entities that own or franchise Tim Hortons, Burger King and Popeyes restaurants. Franchise and property revenues recognized from franchisees that are owned or franchised by entities in which we have an equity interest consist of the following (in millions): Three Months Ended March 31, 2021 2020 Revenues from affiliates: Royalties $ 65 $ 61 Advertising revenues 13 12 Property revenues 8 8 Franchise fees and other revenue 4 3 Total $ 90 $ 84

Other Accrued Liabilities and_2

Other Accrued Liabilities and Other Liabilities, net (Tables)	3 Months Ended
	Mar. 31, 2021
Other Liabilities Disclosure [Abstract]
Schedule of Other Accrued Liabilities (Current) and Other Liabilities (NonCurrent), Net	Other accrued liabilities (current) and Other liabilities, net (noncurrent) consist of the following (in millions): As of March 31, December 31, Current: Distribution payable $ 245 $ 239 Interest payable 94 66 Accrued compensation and benefits 42 78 Taxes payable 96 122 Deferred income 44 42 Accrued advertising expenses 62 59 Restructuring and other provisions 13 12 Current portion of operating lease liabilities 136 137 Other 73 80 Other accrued liabilities $ 805 $ 835 Noncurrent: Taxes payable $ 632 $ 626 Contract liabilities 524 528 Derivatives liabilities 715 865 Unfavorable leases 77 81 Accrued pension 69 70 Deferred income 34 28 Other 38 38 Other liabilities, net $ 2,089 $ 2,236

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Summary of Long-Term Debt	Long-term debt consists of the following (in millions): As of March 31, December 31, Term Loan B (due November 19, 2026) $ 5,283 $ 5,297 Term Loan A (due October 7, 2024) 727 731 2017 4.25% Senior Notes (due May 15, 2024) 775 775 2019 3.875% Senior Notes (due January 15, 2028) 750 750 2020 5.75% Senior Notes (due April 15, 2025) 500 500 2020 3.50% Senior Notes (due February 15, 2029) 750 750 2019 4.375% Senior Notes (due January 15, 2028) 750 750 2020 4.00% Senior Notes (due October 15, 2030) 2,900 2,900 TH Facility and other 179 178 Less: unamortized deferred financing costs and deferred issue discount (148) (155) Total debt, net 12,466 12,476 Less: current maturities of debt (80) (79) Total long-term debt $ 12,386 $ 12,397
Summary of Fair Value Measurement	The following table presents the fair value of our variable rate term debt and senior notes, estimated using inputs based on bid and offer prices that are Level 2 inputs, and principal carrying amount (in millions): As of March 31, December 31, Fair value of our variable term debt and senior notes $ 12,265 $ 12,477 Principal carrying amount of our variable term debt and senior notes 12,435 12,453
Schedule of Interest Expense, Net	Interest expense, net consists of the following (in millions): Three Months Ended 2021 2020 Debt (a) $ 113 $ 113 Finance lease obligations 5 5 Amortization of deferred financing costs and debt issuance discount 7 6 Interest income (1) (5) Interest expense, net $ 124 $ 119 (a) Amount includes $12 million and $21 million benefit during the three months ended March 31, 2021 and 2020, respectively, related to the quarterly net settlements of our cross-currency rate swaps and amortization of the Excluded Component as defined in Note 13, Derivatives .

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Summary of Changes in the Components of Accumulated Other Comprehensive Income (Loss)	The following table displays the changes in the components of accumulated other comprehensive income (loss) (“AOCI”) (in millions): Derivatives Pensions Foreign Currency Translation Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2020 $ (107) $ (45) $ (1,123) $ (1,275) Foreign currency translation adjustment — — 54 54 Net change in fair value of derivatives, net of tax 124 — — 124 Amounts reclassified to earnings of cash flow hedges, net of tax 24 — — 24 Pension and post-retirement benefit plans, net of tax — 1 — 1 Balance at March 31, 2021 $ 41 $ (44) $ (1,069) $ (1,072)

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Quantitative Disclosures of Derivative Instruments Including Estimated Fair Values	The following tables present the required quantitative disclosures for our derivative instruments, including their estimated fair values (all estimated using Level 2 inputs) and their location on our condensed consolidated balance sheets (in millions): Gain or (Loss) Recognized in Other Comprehensive Income (Loss) Three Months Ended March 31, 2021 2020 Derivatives designated as cash flow hedges (1) Interest rate swaps $ 129 $ (300) Forward-currency contracts $ (1) $ 7 Derivatives designated as net investment hedges Cross-currency rate swaps $ 9 $ 517 (1) We did not exclude any components from the cash flow hedge relationships presented in this table. Location of Gain or (Loss) Reclassified from AOCI into Earnings Gain or (Loss) Reclassified from Three Months Ended March 31, 2021 2020 Derivatives designated as cash flow hedges Interest rate swaps Interest expense, net $ (30) $ (15) Forward-currency contracts Cost of sales $ (2) $ — Location of Gain or (Loss) Recognized in Earnings Gain or (Loss) Recognized in Earnings Three Months Ended March 31, 2021 2020 Derivatives designated as net investment hedges Cross-currency rate swaps Interest expense, net $ 12 $ 21
Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	Fair Value as of March 31, December 31, 2020 Balance Sheet Location Assets: Derivatives designated as net investment hedges Foreign currency $ 13 $ — Other assets, net Total assets at fair value $ 13 $ — Liabilities: Derivatives designated as cash flow hedges Interest rate $ 279 $ 430 Other liabilities, net Foreign currency 4 5 Other accrued liabilities Derivatives designated as net investment hedges Foreign currency 436 434 Other liabilities, net Total liabilities at fair value $ 719 $ 869

Other Operating Expenses (Inc_2

Other Operating Expenses (Income), net (Tables)	3 Months Ended
	Mar. 31, 2021
Other Income and Expenses [Abstract]
Other Operating Expenses (Income), Net	Other operating expenses (income), net consist of the following (in millions): Three Months Ended March 31, 2021 2020 Net losses (gains) on disposal of assets, restaurant closures, and refranchisings $ (2) $ (2) Litigation settlements (gains) and reserves, net 2 — Net losses (gains) on foreign exchange (43) (8) Other, net 1 (6) Other operating expenses (income), net $ (42) $ (16)

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Revenues by Geographic Segment	The following tables present revenues, by segment and by country (in millions): Three Months Ended 2021 2020 Revenues by operating segment: TH $ 710 $ 699 BK 407 388 PLK 143 138 Total revenues $ 1,260 $ 1,225 Three Months Ended 2021 2020 Revenues by country (a): Canada $ 638 $ 632 United States 478 450 Other 144 143 Total revenues $ 1,260 $ 1,225 (a) Only Canada and the United States represented 10% or more of our total revenues in each period presented.
Reconciliation of Segment Income to Net Income (Loss)	Three Months Ended 2021 2020 Segment income: TH $ 207 $ 189 BK 217 200 PLK 56 55 Adjusted EBITDA 480 444 Share-based compensation and non-cash incentive compensation expense 26 21 Corporate restructuring and tax advisory fees 1 1 Impact of equity method investments (a) 4 4 Other operating expenses (income), net (42) (16) EBITDA 491 434 Depreciation and amortization 49 45 Income from operations 442 389 Interest expense, net 124 119 Income tax expense 47 46 Net income $ 271 $ 224 (a) Represents (i) (income) loss from equity method investments and (ii) cash distributions received from our equity method investments. Cash distributions received from our equity method investments are included in segment income.

Supplemental Financial Inform_2

Supplemental Financial Information (Tables)	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Condensed Consolidating Financial Statements	The following represents the condensed consolidating financial information for the Parent Issuer and its restricted subsidiaries (“Consolidated Borrowers”) on a consolidated basis, together with eliminations, as of and for the periods indicated. The condensed consolidating financial information of Partnership is combined with the financial information of its wholly-owned subsidiaries that are also parent entities of the Parent Issuer and presented in a single column under the heading “RBILP”. The consolidating financial information may not necessarily be indicative of the financial position, results of operations or cash flows had the Issuers and Partnership operated as independent entities. RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidating Balance Sheets (In millions of U.S. dollars) As of March 31, 2021 Consolidated Borrowers RBILP Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 1,563 $ — $ — $ 1,563 Accounts and notes receivable, net 519 — — 519 Inventories, net 98 — — 98 Prepaids and other current assets 111 — — 111 Total current assets 2,291 — — 2,291 Property and equipment, net 2,028 — — 2,028 Operating lease assets, net 1,140 — — 1,140 Intangible assets, net 10,742 — — 10,742 Goodwill 5,781 — — 5,781 Net investment in property leased to franchisees 67 — — 67 Intercompany receivable — 245 (245) — Investment in subsidiaries — 4,002 (4,002) — Other assets, net 808 — — 808 Total assets $ 22,857 $ 4,247 $ (4,247) $ 22,857 LIABILITIES AND EQUITY Current liabilities: Accounts and drafts payable $ 488 $ — $ — $ 488 Other accrued liabilities 560 245 — 805 Gift card liability 147 — — 147 Current portion of long-term debt and finance leases 112 — — 112 Total current liabilities 1,307 245 — 1,552 Long-term debt, net of current portion 12,386 — — 12,386 Finance leases, net of current portion 318 — — 318 Operating lease liabilities, net of current portion 1,075 — — 1,075 Other liabilities, net 2,089 — — 2,089 Payables to affiliates 245 — (245) — Deferred income taxes, net 1,435 — — 1,435 Total liabilities 18,855 245 (245) 18,855 Partners’ capital: Class A common units — 8,066 — 8,066 Partnership exchangeable units — (2,998) — (2,998) Common shares 3,077 — (3,077) — Retained Earnings 1,991 — (1,991) — Accumulated other comprehensive income (loss) (1,072) (1,072) 1,072 (1,072) Total Partners' capital/shareholders' equity 3,996 3,996 (3,996) 3,996 Noncontrolling interests 6 6 (6) 6 Total equity 4,002 4,002 (4,002) 4,002 Total liabilities and equity $ 22,857 $ 4,247 $ (4,247) $ 22,857 RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidating Balance Sheets (In millions of U.S. dollars) As of December 31, 2020 Consolidated Borrowers RBILP Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 1,560 $ — $ — $ 1,560 Accounts and notes receivable, net 536 — — 536 Inventories, net 96 — — 96 Prepaids and other current assets 72 — — 72 Total current assets 2,264 — — 2,264 Property and equipment, net 2,031 — — 2,031 Operating lease assets. net 1,152 — — 1,152 Intangible assets, net 10,701 — — 10,701 Goodwill 5,739 — — 5,739 Net investment in property leased to franchisees 66 — — 66 Intercompany receivable — 239 (239) — Investment in subsidiaries — 3,721 (3,721) — Other assets, net 824 — — 824 Total assets $ 22,777 $ 3,960 $ (3,960) $ 22,777 LIABILITIES AND EQUITY Current liabilities: Accounts and drafts payable $ 464 $ — $ — $ 464 Other accrued liabilities 596 239 — 835 Gift card liability 191 — — 191 Current portion of long-term debt and finance leases 111 — — 111 Total current liabilities 1,362 239 — 1,601 Long-term debt, net of current portion 12,397 — — 12,397 Finance leases, net of current portion 315 — — 315 Operating lease liabilities, net of current portion 1,082 — — 1,082 Other liabilities, net 2,236 — — 2,236 Payables to affiliates 239 — (239) — Deferred income taxes, net 1,425 — — 1,425 Total liabilities 19,056 239 (239) 19,056 Partners’ capital: Class A common units — 7,994 — 7,994 Partnership exchangeable units — (3,002) — (3,002) Common shares 3,026 — (3,026) — Retained Earnings 1,966 — (1,966) — Accumulated other comprehensive income (loss) (1,275) (1,275) 1,275 (1,275) Total Partners' capital/shareholders' equity 3,717 3,717 (3,717) 3,717 Noncontrolling interests 4 4 (4) 4 Total equity 3,721 3,721 (3,721) 3,721 Total liabilities and equity $ 22,777 $ 3,960 $ (3,960) $ 22,777 RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidating Statements of Operations (In millions of U.S. dollars) Three Months Ended March 31, 2021 Consolidated Borrowers RBILP Eliminations Consolidated Revenues: Sales $ 507 $ — $ — $ 507 Franchise and property revenues 548 — — 548 Advertising revenues 205 — — 205 Total revenues 1,260 — — 1,260 Operating costs and expenses: Cost of sales 401 — — 401 Franchise and property expenses 116 — — 116 Advertising expenses 236 — — 236 General and administrative expenses 105 — — 105 (Income) loss from equity method investments 2 — — 2 Other operating expenses (income), net (42) — — (42) Total operating costs and expenses 818 — — 818 Income from operations 442 — — 442 Interest expense, net 124 — — 124 Income before income taxes 318 — — 318 Income tax expense 47 — — 47 Net income 271 — — 271 Equity in earnings of consolidated subsidiaries — 271 (271) — Net income (loss) 271 271 (271) 271 Net income (loss) attributable to noncontrolling interests 1 1 (1) 1 Net income (loss) attributable to common unitholders $ 270 $ 270 $ (270) $ 270 Comprehensive income (loss) $ 474 $ 474 $ (474) $ 474 RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidating Statements of Operations (In millions of U.S. dollars) Three Months Ended March 31, 2020 Consolidated Borrowers RBILP Eliminations Consolidated Revenues: Sales $ 503 $ — $ — $ 503 Franchise and property revenues 525 — — 525 Advertising revenues 197 — — 197 Total revenues 1,225 — — 1,225 Operating costs and expenses: Cost of sales 399 — — 399 Franchise and property expenses 123 — — 123 Advertising expenses 226 — — 226 General and administrative expenses 102 — — 102 (Income) loss from equity method investments 2 — — 2 Other operating expenses (income), net (16) — — (16) Total operating costs and expenses 836 — — 836 Income from operations 389 — — 389 Interest expense, net 119 — — 119 Income before income taxes 270 — — 270 Income tax expense 46 — — 46 Net income 224 — — 224 Equity in earnings of consolidated subsidiaries — 224 (224) — Net income (loss) 224 224 (224) 224 Net income (loss) attributable to noncontrolling interests — — — — Net income (loss) attributable to common unitholders $ 224 $ 224 $ (224) $ 224 Comprehensive income (loss) $ (319) $ (319) $ 319 $ (319) RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidating Statements of Cash Flows (In millions of U.S. dollars) Three months ended March 31, 2021 Consolidated Borrowers RBILP Eliminations Consolidated Cash flows from operating activities: Net income $ 271 $ 271 $ (271) $ 271 Adjustments to reconcile net income to net cash provided by (used for) operating activities: Equity in loss (earnings) of consolidated subsidiaries — (271) 271 — Depreciation and amortization 49 — — 49 Amortization of deferred financing costs and debt issuance discount 7 — — 7 (Income) loss from equity method investments 2 — — 2 (Gain) loss on remeasurement of foreign denominated transactions (43) — — (43) Net (gains) losses on derivatives 20 — — 20 Share-based compensation expense 22 — — 22 Deferred income taxes 14 — — 14 Other (8) — — (8) Changes in current assets and liabilities, excluding acquisitions and dispositions: Accounts and notes receivable 24 — — 24 Inventories and prepaids and other current assets (4) — — (4) Accounts and drafts payable 19 — — 19 Other accrued liabilities and gift card liability (113) — — (113) Other long-term assets and liabilities 6 — — 6 Net cash provided by (used for) operating activities 266 — — 266 Cash flows from investing activities: Payments for property and equipment (15) — — (15) Net proceeds from disposal of assets, restaurant closures, and refranchisings 11 — — 11 Settlement/sale of derivatives, net 2 — — 2 Other investing activities, net (5) — — (5) Net cash provided by (used for) investing activities (7) — — (7) Cash flows from financing activities: Repayments of long-term debt and finance leases (27) — — (27) Distributions on Class A common and Partnership exchangeable units — (239) — (239) Capital contribution from RBI 20 — — 20 Distributions from subsidiaries (239) 239 — — (Payments) proceeds from derivatives (16) — — (16) Other financing activities, net 1 — — 1 Net cash provided by (used for) financing activities (261) — — (261) Effect of exchange rates on cash and cash equivalents 5 — — 5 Increase (decrease) in cash and cash equivalents 3 — — 3 Cash and cash equivalents at beginning of period 1,560 — — 1,560 Cash and cash equivalents at end of period $ 1,563 $ — $ — $ 1,563 RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidating Statements of Cash Flows (In millions of U.S. dollars) Three Months Ended March 31, 2020 Consolidated Borrowers RBILP Eliminations Consolidated Cash flows from operating activities: Net income $ 224 $ 224 $ (224) $ 224 Adjustments to reconcile net income to net cash provided by (used for) operating activities: Equity in loss (earnings) of consolidated subsidiaries — (224) 224 — Depreciation and amortization 45 — — 45 Amortization of deferred financing costs and debt issuance discount 6 — — 6 (Income) loss from equity method investments 2 — — 2 (Gain) loss on remeasurement of foreign denominated transactions (8) — — (8) Net (gains) losses on derivatives (6) — — (6) Share-based compensation expense 19 — — 19 Deferred income taxes (31) — — (31) Other (4) — — (4) Changes in current assets and liabilities, excluding acquisitions and dispositions: Accounts and notes receivable 94 — — 94 Inventories and prepaids and other current assets (13) — — (13) Accounts and drafts payable (136) — — (136) Other accrued liabilities and gift card liability (67) — — (67) Tenant inducements paid to franchisees (3) — — (3) Other long-term assets and liabilities 14 — — 14 Net cash provided by (used for) operating activities 136 — — 136 Cash flows from investing activities: Payments for property and equipment (19) — — (19) Net proceeds from disposal of assets, restaurant closures, and refranchisings 4 — — 4 Settlement/sale of derivatives, net 12 — — 12 Net cash provided by (used for) investing activities (3) — — (3) Cash flows from financing activities: Proceeds from revolving line of credit and long-term debt 1,085 — — 1,085 Repayments of revolving line of credit, long-term debt and finance leases (25) — — (25) Distributions on Class A common and Partnership exchangeable units — (232) — (232) Capital contribution from RBI 30 — — 30 Distributions from subsidiaries (232) 232 — — (Payments) proceeds from derivatives (2) — — (2) Other financing activities, net (1) — — (1) Net cash provided by (used for) financing activities 855 — — 855 Effect of exchange rates on cash and cash equivalents (23) — — (23) Increase (decrease) in cash and cash equivalents 965 — — 965 Cash and cash equivalents at beginning of period 1,533 — — 1,533 Cash and cash equivalents at end of period $ 2,498 $ — $ — $ 2,498

Description of Business and O_2

Description of Business and Organization - Additional Information (Details)	Mar. 31, 2021restaurantcountry
Basis Of Presentation [Line Items]
Number of franchised or owned restaurants	27,173
Number of countries in which company and franchise restaurants operated (more than) | country	100
Percentage of franchised Tim Hortons, Burger King, and Popeyes restaurants	100.00%
Tim Hortons brand
Basis Of Presentation [Line Items]
Number of franchised or owned restaurants	4,987
Burger King brand
Basis Of Presentation [Line Items]
Number of franchised or owned restaurants	18,691
Popeyes brand
Basis Of Presentation [Line Items]
Number of franchised or owned restaurants	3,495

Basis of Presentation and Con_3

Basis of Presentation and Consolidation - Additional Information (Details) - restaurant	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Restaurant VIEs
Summary Of Accounting Policies [Line Items]
Number of VIE consolidated restaurants	51	38

Leases - Property revenues (Det

Leases - Property revenues (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Lease income - operating leases
Minimum lease payments	$ 113	$ 112
Variable lease payments	66	63
Amortization of favorable and unfavorable income lease contracts, net	1	2
Subtotal - lease income from operating leases	180	177
Earned income on direct financing leases	2	1
Total property revenues	$ 182	$ 178

Revenue Recognition - Change in

Revenue Recognition - Change in contract liabilities (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Change In Contract With Customer Liability [Roll Forward]
Beginning balance	$ 528
Recognized during period and included in the contract liability balance at the beginning of the year	(15)
Increase, excluding amounts recognized as revenue during the period	18
Impact of foreign currency translation	(7)
Ending balance	524
Tim Hortons brand
Change In Contract With Customer Liability [Roll Forward]
Beginning balance	62
Recognized during period and included in the contract liability balance at the beginning of the year	(2)
Increase, excluding amounts recognized as revenue during the period	2
Impact of foreign currency translation	0
Ending balance	62
Burger King brand
Change In Contract With Customer Liability [Roll Forward]
Beginning balance	427
Recognized during period and included in the contract liability balance at the beginning of the year	(12)
Increase, excluding amounts recognized as revenue during the period	9
Impact of foreign currency translation	(7)
Ending balance	417
Popeyes brand
Change In Contract With Customer Liability [Roll Forward]
Beginning balance	39
Recognized during period and included in the contract liability balance at the beginning of the year	(1)
Increase, excluding amounts recognized as revenue during the period	7
Impact of foreign currency translation	0
Ending balance	$ 45

Revenue Recognition - Estimated

Revenue Recognition - Estimated revenue recognition (Details) $ in Millions	Mar. 31, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	$ 524
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, expected timing of satisfaction, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	$ 35
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	$ 45
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	$ 43
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	$ 42
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	$ 40
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, expected timing of satisfaction, period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	$ 319
Tim Hortons brand
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	62
Tim Hortons brand | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	7
Tim Hortons brand | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	9
Tim Hortons brand | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	8
Tim Hortons brand | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	8
Tim Hortons brand | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	6
Tim Hortons brand | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	24
Burger King brand
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	417
Burger King brand | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	26
Burger King brand | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	33
Burger King brand | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	32
Burger King brand | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	31
Burger King brand | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	31
Burger King brand | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	264
Popeyes brand
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	45
Popeyes brand | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	2
Popeyes brand | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	3
Popeyes brand | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	3
Popeyes brand | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	3
Popeyes brand | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	3
Popeyes brand | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	$ 31

Revenue Recognition Contract Li

Revenue Recognition Contract Liabilities, Total (Details) $ in Millions	Mar. 31, 2021USD ($)
Segment Reporting Information [Line Items]
Contract liabilities expected to be recognized in	$ 524
Tim Hortons brand
Segment Reporting Information [Line Items]
Contract liabilities expected to be recognized in	62
Burger King brand
Segment Reporting Information [Line Items]
Contract liabilities expected to be recognized in	417
Popeyes brand
Segment Reporting Information [Line Items]
Contract liabilities expected to be recognized in	$ 45

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of total revenues (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Property revenues	$ 182	$ 178
Total revenues	1,260	1,225
Sales
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	507	503
Royalties
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	346	329
Franchise fees and other revenue
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	20	18
Advertising revenues
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	205	197
Total revenues	$ 205	$ 197

Earnings per Unit - Basic and D

Earnings per Unit - Basic and Diluted Earnings Per Unit (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Allocation of net income among partner interests:
Net income attributable to common unitholders	$ 270	$ 224
Class A common units
Allocation of net income among partner interests:
Net income attributable to common unitholders	$ 179	$ 144
Denominator - basic and diluted partnership units:
Total weighted average basic and diluted units outstanding (in shares)	202	202
Earnings per unit - basic and diluted:
Earnings per unit - basic and diluted (in usd per share)	$ 0.89	$ 0.71
Partnership exchangeable units
Allocation of net income among partner interests:
Net income attributable to common unitholders	$ 91	$ 80
Denominator - basic and diluted partnership units:
Total weighted average basic and diluted units outstanding (in shares)	155	165
Earnings per unit - basic and diluted:
Earnings per unit - basic and diluted (in usd per share)	$ 0.59	$ 0.48

Intangible Assets, net and Go_3

Intangible Assets, net and Goodwill - Schedule of Intangible Assets, net and Goodwill (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Finite And Indefinite Lived Intangible Assets [Line Items]
Gross	$ 845	$ 852
Accumulated Amortization	(336)	(330)
Net	509	522
Intangible assets, net	10,742	10,701
Goodwill	5,781	5,739
Trade names
Finite And Indefinite Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets:	10,233	10,179
Tim Hortons brand
Finite And Indefinite Lived Intangible Assets [Line Items]
Goodwill	4,329	4,279
Tim Hortons brand | Trade names
Finite And Indefinite Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets:	6,732	6,650
Burger King brand
Finite And Indefinite Lived Intangible Assets [Line Items]
Goodwill	606	614
Burger King brand | Trade names
Finite And Indefinite Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets:	2,146	2,174
Popeyes brand
Finite And Indefinite Lived Intangible Assets [Line Items]
Goodwill	846	846
Popeyes brand | Trade names
Finite And Indefinite Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets:	1,355	1,355
Franchise agreements
Finite And Indefinite Lived Intangible Assets [Line Items]
Gross	729	735
Accumulated Amortization	(269)	(264)
Net	460	471
Favorable leases
Finite And Indefinite Lived Intangible Assets [Line Items]
Gross	116	117
Accumulated Amortization	(67)	(66)
Net	$ 49	$ 51

Intangible Assets, net and Go_4

Intangible Assets, net and Goodwill - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense on intangible assets	$ 10	$ 11

Equity Method Investments - Add

Equity Method Investments - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Investment in subsidiaries	$ 0		$ 0
Equity Method Investee
Schedule of Equity Method Investments [Line Items]
Accounts receivable from equity method investments	46		52
Wendy's Company TIMWEN Partnership | Tim Hortons brand
Schedule of Equity Method Investments [Line Items]
Cash distributions	3	$ 2
Rent expense	4	$ 4
Carrols Restaurant Group, Inc.
Schedule of Equity Method Investments [Line Items]
Quoted market price	$ 56
BK Brasil
Schedule of Equity Method Investments [Line Items]
Joint-venture interest	9.40%
Quoted market price	$ 44
Canada | Wendy's Company TIMWEN Partnership
Schedule of Equity Method Investments [Line Items]
Joint-venture interest	50.00%
United States | Carrols Restaurant Group, Inc.
Schedule of Equity Method Investments [Line Items]
Joint-venture interest	15.20%
Other assets
Schedule of Equity Method Investments [Line Items]
Investment in subsidiaries	$ 205		$ 205

Equity Method Investments - Sum

Equity Method Investments - Summary of Franchise and Property Revenues (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues from affiliates:
Total revenues	$ 1,260	$ 1,225
Affiliates
Revenues from affiliates:
Property revenues	8	8
Total revenues	90	84
Royalties
Revenues from affiliates:
Revenues	346	329
Royalties | Affiliates
Revenues from affiliates:
Revenues	65	61
Advertising revenues
Revenues from affiliates:
Revenues	205	197
Total revenues	205	197
Advertising revenues | Affiliates
Revenues from affiliates:
Revenues	13	12
Franchise fees and other revenue
Revenues from affiliates:
Revenues	20	18
Franchise fees and other revenue | Affiliates
Revenues from affiliates:
Total revenues	$ 4	$ 3

Other Accrued Liabilities and_3

Other Accrued Liabilities and Other Liabilities, net - Schedule of Other Accrued Liabilities (Current) and Other Liabilities (NonCurrent), Net (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Current:
Distribution payable	$ 245	$ 239
Interest payable	94	66
Accrued compensation and benefits	42	78
Taxes payable	96	122
Deferred income	44	42
Accrued advertising expenses	62	59
Restructuring and other provisions	13	12
Current portion of operating lease liabilities	136	137
Other	73	80
Other accrued liabilities	805	835
Noncurrent:
Taxes payable	632	626
Contract liabilities	524	528
Derivatives liabilities	715	865
Unfavorable leases	77	81
Accrued pension	69	70
Deferred income	34	28
Other	38	38
Other liabilities, net	$ 2,089	$ 2,236

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020	Oct. 05, 2020	Apr. 07, 2020	Nov. 19, 2019	Sep. 24, 2019	May 17, 2017
Debt Instrument [Line Items]
TH Facility and other	$ 179	$ 178
Less: unamortized deferred financing costs and deferred issue discount	(148)	(155)
Total debt, net	12,466	12,476
Less: current maturities of debt	(80)	(79)
Total long-term debt	12,386	12,397
Term Loan B (due November 19, 2026)
Debt Instrument [Line Items]
Term loan facility	5,283	5,297
Term Loan A (due October 7, 2024)
Debt Instrument [Line Items]
Term loan facility	727	731
2017 4.25% Senior Notes (due May 15, 2024)
Debt Instrument [Line Items]
Senior notes	$ 775	775
Stated interest rate (as a percent)	4.25%						4.25%
2019 3.875% Senior Notes (due January 15, 2028)
Debt Instrument [Line Items]
Senior notes	$ 750	750
Stated interest rate (as a percent)	3.875%					3.875%
2020 5.75% Senior Notes (due April 15, 2025)
Debt Instrument [Line Items]
Senior notes	$ 500	500
Stated interest rate (as a percent)	5.75%			5.75%
2020 3.50% Senior Notes (due February 15, 2029)
Debt Instrument [Line Items]
Senior notes	$ 750	750
Stated interest rate (as a percent)	3.50%
2019 4.375% Senior Notes (due January 15, 2028)
Debt Instrument [Line Items]
Senior notes	$ 750	750
Stated interest rate (as a percent)	4.375%				4.375%
2020 4.00% Senior Notes (due October 15, 2030)
Debt Instrument [Line Items]
Senior notes	$ 2,900	$ 2,900
Stated interest rate (as a percent)	4.00%		4.00%

Long-Term Debt - Revolving Cred

Long-Term Debt - Revolving Credit Facility - Additional Information (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Line of Credit Facility [Line Items]
Amount outstanding under credit facility	$ 12,466,000,000	$ 12,476,000,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Amount outstanding under credit facility	0
Letters of credit issued against credit facility	2,000,000
Remaining borrowing capacity	998,000,000
Letter of credit sublimit as part of revolving credit facility	$ 125,000,000

Long-Term Debt - TH facility -

Long-Term Debt - TH facility - Additional Information (Details) $ in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2021CAD ($)	Dec. 31, 2020USD ($)
Line of Credit Facility [Line Items]
Amount outstanding under credit facility	$ 12,466		$ 12,476
TH Facility
Line of Credit Facility [Line Items]
Aggregate principal amount outstanding		$ 225
Amount outstanding under credit facility		$ 221
Interest rate	1.84%	1.84%
TH Facility | Canadian Bankers' Acceptance Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.40%
TH Facility | Prime Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.40%

Long-Term Debt - Schedule of Fa

Long-Term Debt - Schedule of Fair Value Measurement (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Fair value of our variable term debt and senior notes	$ 12,265	$ 12,477
Principal carrying amount of our variable term debt and senior notes	$ 12,435	$ 12,453

Long-Term Debt - Schedule of In

Long-Term Debt - Schedule of Interest Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Debt Disclosure [Abstract]
Debt	$ 113	$ 113
Finance lease obligations	5	5
Amortization of deferred financing costs and debt issuance discount	7	6
Interest income	(1)	(5)
Interest expense, net	124	119
Cross-currency rate swaps | Derivatives designated as net investment hedges | Interest expense, net
Debt Instrument [Line Items]
Gain (loss) reclassified to earnings, net investment hedge	$ 12	$ 21

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	14.70%	16.80%

Equity - Additional Information

Equity - Additional Information (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Partnership exchangeable units
Stockholders Equity [Line Items]
BKW reorganization into Partnership (in shares)	72,671	178,046

Equity - Summary of Changes in

Equity - Summary of Changes in the Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balances	$ 3,721	$ 4,259
Foreign currency translation adjustment	54	(751)
Net change in fair value of derivatives, net of tax	124
Amounts reclassified to earnings of cash flow hedges, net of tax	24	11
Ending balances	4,002	3,752
Gain (loss) recognized on other, net of tax of $0 and $0	1	0
Derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balances	(107)
Net change in fair value of derivatives, net of tax	124
Amounts reclassified to earnings of cash flow hedges, net of tax	24
Ending balances	41
Pensions
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balances	(45)
Ending balances	(44)
Gain (loss) recognized on other, net of tax of $0 and $0	1
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balances	(1,123)
Foreign currency translation adjustment	54
Ending balances	(1,069)
Accumulated  Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balances	(1,275)	(1,178)
Ending balances	$ (1,072)	$ (1,721)

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Details) € in Millions, $ in Millions, $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2015USD ($)	Mar. 31, 2021CAD ($)	Mar. 31, 2021EUR (€)	Dec. 31, 2018USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Net unrealized loss recognized in AOCI	$ (95)	$ 214
Amount of pre-tax losses in AOCI expect to be reclassified into interest expense	8
Maximum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	124
Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount			$ 3,500
Interest rate swaps | Interest expense, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Net unrealized loss recognized in AOCI			213
Gain (loss) reclassified from OACI to Income	50
Net unrealized loss recognized at settlement				$ 85
Interest Rate Swaps - Period One
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	3,500
Interest Rate Swaps - Period Two
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	500
Cross Currency Interest Rate Contract | Fixed Income Interest Rate
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	5,000				$ 6,754
Cross Currency Interest Rate Contract | Fixed Income Interest Rate | Derivatives designated as net investment hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount			$ 500				$ 400
Cross Currency Interest Rate Contract | Fixed Income Interest Rate | Hedge Funds
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 1,200					€ 1,108

Derivative Instruments - Quanti

Derivative Instruments - Quantitative Disclosures of Derivative Instruments Including Estimated Fair Values (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Interest rate swaps | Derivatives designated as cash flow hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain or (Loss) Recognized in Other Comprehensive Income (Loss)	$ 129	$ (300)
Forward-currency contracts | Derivatives designated as cash flow hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain or (Loss) Recognized in Other Comprehensive Income (Loss)	(1)	7
Cross-currency rate swaps | Derivatives designated as net investment hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain or (Loss) Recognized in Other Comprehensive Income (Loss)	9	517
Interest expense, net | Interest rate swaps | Derivatives designated as cash flow hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain or (Loss) Reclassified from AOCI into Earnings	(30)	(15)
Interest expense, net | Cross-currency rate swaps | Derivatives designated as net investment hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain or (Loss) Recognized in Earnings (Amount Excluded from Effectiveness Testing)	12	21
Cost of sales | Forward-currency contracts | Derivatives designated as cash flow hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain or (Loss) Reclassified from AOCI into Earnings	$ (2)	$ 0

Derivative Instruments - Summar

Derivative Instruments - Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives assets	$ 13	$ 0
Derivatives liabilities	719	869
Derivatives designated as net investment hedges | Foreign currency | Other assets, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives assets	13	0
Derivatives designated as net investment hedges | Foreign currency | Other liabilities, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives liabilities	436	434
Derivatives designated as cash flow hedges | Foreign currency | Other accrued liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives liabilities	4	5
Derivatives designated as cash flow hedges | Interest rate | Other liabilities, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives liabilities	$ 279	$ 430

Other Operating Expenses (Inc_3

Other Operating Expenses (Income), net - Other Operating Expenses (Income), Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Other Income and Expenses [Abstract]
Net losses (gains) on disposal of assets, restaurant closures, and refranchisings	$ (2)	$ (2)
Litigation settlements (gains) and reserves, net	2	0
Net losses (gains) on foreign exchange	(43)	(8)
Other, net	1	(6)
Other operating expenses (income), net	$ (42)	$ (16)

Segment Reporting - Additional

Segment Reporting - Additional Information (Details)	3 Months Ended
	Mar. 31, 2021brand
Segment Reporting [Abstract]
Number of brands	3
Number of operating segments	3
Number of reportable segments	3

Segment Reporting - Revenues by

Segment Reporting - Revenues by Operating Segment and Country (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue, Major Customer [Line Items]
Total revenues	$ 1,260	$ 1,225
Canada
Revenue, Major Customer [Line Items]
Total revenues	638	632
United States
Revenue, Major Customer [Line Items]
Total revenues	478	450
Other
Revenue, Major Customer [Line Items]
Total revenues	144	143
Tim Hortons brand
Revenue, Major Customer [Line Items]
Total revenues	710	699
Burger King brand
Revenue, Major Customer [Line Items]
Total revenues	407	388
Popeyes brand
Revenue, Major Customer [Line Items]
Total revenues	$ 143	$ 138

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Segment Income to Net Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Adjusted EBITDA	$ 480	$ 444
Impact of equity method investments	2	2
Other operating expenses (income), net	(42)	(16)
EBITDA	491	434
Depreciation and amortization	49	45
Income from operations	442	389
Interest expense, net	124	119
Income tax expense	47	46
Net income	271	224
Unallocated Management G&A
Segment Reporting, Revenue Reconciling Item [Line Items]
Share-based compensation and non-cash incentive compensation expense	26	21
Corporate restructuring and tax advisory fees	1	1
Impact of equity method investments	4	4
Other operating expenses (income), net	(42)	(16)
Tim Hortons brand | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Adjusted EBITDA	207	189
Burger King brand | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Adjusted EBITDA	217	200
Popeyes brand | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Adjusted EBITDA	$ 56	$ 55

Supplemental Financial Inform_3

Supplemental Financial Information Narrative (Details)	Mar. 31, 2021	Nov. 09, 2020	Oct. 05, 2020	Apr. 07, 2020	Nov. 19, 2019	Sep. 24, 2019	May 17, 2017
2020 3.50% Senior Notes (due February 15, 2029)
Stated interest rate (as a percent)		3.50%
2020 4.00% Senior Notes (due October 15, 2030)
Stated interest rate (as a percent)	4.00%		4.00%
2020 5.75% Senior Notes (due April 15, 2025)
Stated interest rate (as a percent)	5.75%			5.75%
2019 4.375% Senior Notes (due January 15, 2028)
Stated interest rate (as a percent)	4.375%				4.375%
2019 3.875% Senior Notes (due January 15, 2028)
Stated interest rate (as a percent)	3.875%					3.875%
2017 4.25% Senior Notes (due May 15, 2024)
Stated interest rate (as a percent)	4.25%						4.25%

Supplemental Financial Inform_4

Supplemental Financial Information - Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 1,563	$ 1,560
Accounts and notes receivable, net	519	536
Inventories, net	98	96
Prepaids and other current assets	111	72
Total current assets	2,291	2,264
Property and equipment, net	2,028	2,031
Operating lease assets, net	1,140	1,152
Intangible assets, net	10,742	10,701
Goodwill	5,781	5,739
Net investment in property leased to franchisees	67	66
Intercompany receivable	0	0
Investment in subsidiaries	0	0
Other assets, net	808	824
Total assets	22,857	22,777
Current liabilities:
Accounts and drafts payable	488	464
Other accrued liabilities	805	835
Gift card liability	147	191
Current portion of long-term debt and finance leases	112	111
Total current liabilities	1,552	1,601
Long-term debt, net of current portion	12,386	12,397
Finance leases, net of current portion	318	315
Operating lease liabilities, net of current portion	1,075	1,082
Other liabilities, net	2,089	2,236
Payables to affiliates	0	0
Deferred income taxes, net	1,435	1,425
Total liabilities	18,855	19,056
Partners’ capital:
Common shares	0	0
Retained Earnings	0	0
Accumulated other comprehensive income (loss)	(1,072)	(1,275)
Total Partners’ capital	3,996	3,717
Noncontrolling interests	6	4
Total equity	4,002	3,721	$ 3,752	$ 4,259
Total liabilities and equity	22,857	22,777
Class A common units
Partners’ capital:
Class A common units	8,066	7,994
Total equity	8,066	7,994	7,840	7,786
Partnership exchangeable units
Partners’ capital:
Partnership exchangeable units	(2,998)	(3,002)
Total equity	(2,998)	(3,002)	$ (2,370)	$ (2,353)
Eliminations
Current assets:
Cash and cash equivalents	0	0
Accounts and notes receivable, net	0	0
Inventories, net	0	0
Prepaids and other current assets	0	0
Total current assets	0	0
Property and equipment, net	0	0
Operating lease assets, net	0	0
Intangible assets, net	0	0
Goodwill	0	0
Net investment in property leased to franchisees	0	0
Intercompany receivable	(245)	(239)
Investment in subsidiaries	(4,002)	(3,721)
Other assets, net	0	0
Total assets	(4,247)	(3,960)
Current liabilities:
Accounts and drafts payable	0	0
Other accrued liabilities	0	0
Gift card liability	0	0
Current portion of long-term debt and finance leases	0	0
Total current liabilities	0	0
Long-term debt, net of current portion	0	0
Finance leases, net of current portion	0	0
Operating lease liabilities, net of current portion	0	0
Other liabilities, net	0	0
Payables to affiliates	(245)	(239)
Deferred income taxes, net	0	0
Total liabilities	(245)	(239)
Partners’ capital:
Common shares	(3,077)	(3,026)
Retained Earnings	(1,991)	(1,966)
Accumulated other comprehensive income (loss)	1,072	1,275
Total Partners’ capital	(3,996)	(3,717)
Noncontrolling interests	(6)	(4)
Total equity	(4,002)	(3,721)
Total liabilities and equity	(4,247)	(3,960)
Eliminations | Class A common units
Partners’ capital:
Class A common units	0	0
Eliminations | Partnership exchangeable units
Partners’ capital:
Partnership exchangeable units	0	0
Consolidated Borrowers | Reportable Legal Entities
Current assets:
Cash and cash equivalents	1,563	1,560
Accounts and notes receivable, net	519	536
Inventories, net	98	96
Prepaids and other current assets	111	72
Total current assets	2,291	2,264
Property and equipment, net	2,028	2,031
Operating lease assets, net	1,140	1,152
Intangible assets, net	10,742	10,701
Goodwill	5,781	5,739
Net investment in property leased to franchisees	67	66
Intercompany receivable	0	0
Investment in subsidiaries	0	0
Other assets, net	808	824
Total assets	22,857	22,777
Current liabilities:
Accounts and drafts payable	488	464
Other accrued liabilities	560	596
Gift card liability	147	191
Current portion of long-term debt and finance leases	112	111
Total current liabilities	1,307	1,362
Long-term debt, net of current portion	12,386	12,397
Finance leases, net of current portion	318	315
Operating lease liabilities, net of current portion	1,075	1,082
Other liabilities, net	2,089	2,236
Payables to affiliates	245	239
Deferred income taxes, net	1,435	1,425
Total liabilities	18,855	19,056
Partners’ capital:
Common shares	3,077	3,026
Retained Earnings	1,991	1,966
Accumulated other comprehensive income (loss)	(1,072)	(1,275)
Total Partners’ capital	3,996	3,717
Noncontrolling interests	6	4
Total equity	4,002	3,721
Total liabilities and equity	22,857	22,777
Consolidated Borrowers | Reportable Legal Entities | Class A common units
Partners’ capital:
Class A common units	0	0
Consolidated Borrowers | Reportable Legal Entities | Partnership exchangeable units
Partners’ capital:
Partnership exchangeable units	0	0
RBILP | Reportable Legal Entities
Current assets:
Cash and cash equivalents	0	0
Accounts and notes receivable, net	0	0
Inventories, net	0	0
Prepaids and other current assets	0	0
Total current assets	0	0
Property and equipment, net	0	0
Operating lease assets, net	0	0
Intangible assets, net	0	0
Goodwill	0	0
Net investment in property leased to franchisees	0	0
Intercompany receivable	245	239
Investment in subsidiaries	4,002	3,721
Other assets, net	0	0
Total assets	4,247	3,960
Current liabilities:
Accounts and drafts payable	0	0
Other accrued liabilities	245	239
Gift card liability	0	0
Current portion of long-term debt and finance leases	0	0
Total current liabilities	245	239
Long-term debt, net of current portion	0	0
Finance leases, net of current portion	0	0
Operating lease liabilities, net of current portion	0	0
Other liabilities, net	0	0
Payables to affiliates	0	0
Deferred income taxes, net	0	0
Total liabilities	245	239
Partners’ capital:
Common shares	0	0
Retained Earnings	0	0
Accumulated other comprehensive income (loss)	(1,072)	(1,275)
Total Partners’ capital	3,996	3,717
Noncontrolling interests	6	4
Total equity	4,002	3,721
Total liabilities and equity	4,247	3,960
RBILP | Reportable Legal Entities | Class A common units
Partners’ capital:
Class A common units	8,066	7,994
RBILP | Reportable Legal Entities | Partnership exchangeable units
Partners’ capital:
Partnership exchangeable units	$ (2,998)	$ (3,002)

Supplemental Financial Inform_5

Supplemental Financial Information - Condensed Consolidating Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues:
Franchise and property revenues	$ 548	$ 525
Total revenues	1,260	1,225
Operating costs and expenses:
Cost of sales	401	399
Franchise and property expenses	116	123
Advertising expenses	236	226
General and administrative expenses	105	102
(Income) loss from equity method investments	2	2
Other operating expenses (income), net	(42)	(16)
Total operating costs and expenses	818	836
Income from operations	442	389
Interest expense, net	124	119
Income before income taxes	318	270
Income tax expense	47	46
Net income	271	224
Equity in earnings of consolidated subsidiaries	0	0
Net income	271	224
Comprehensive income (loss) attributable to noncontrolling interests	1	0
Net income attributable to common unitholders	270	224
Comprehensive income (loss)	474	(319)
Eliminations
Revenues:
Franchise and property revenues	0	0
Total revenues	0	0
Operating costs and expenses:
Cost of sales	0	0
Franchise and property expenses	0	0
Advertising expenses	0	0
General and administrative expenses	0	0
(Income) loss from equity method investments	0	0
Other operating expenses (income), net	0	0
Total operating costs and expenses	0	0
Income from operations	0	0
Interest expense, net	0	0
Income before income taxes	0	0
Income tax expense	0	0
Net income	0	0
Equity in earnings of consolidated subsidiaries	(271)	(224)
Net income	(271)	(224)
Comprehensive income (loss) attributable to noncontrolling interests	(1)	0
Net income attributable to common unitholders	(270)	(224)
Comprehensive income (loss)	(474)	319
Consolidated Borrowers | Reportable Legal Entities
Revenues:
Franchise and property revenues	548	525
Total revenues	1,260	1,225
Operating costs and expenses:
Cost of sales	401	399
Franchise and property expenses	116	123
Advertising expenses	236	226
General and administrative expenses	105	102
(Income) loss from equity method investments	2	2
Other operating expenses (income), net	(42)	(16)
Total operating costs and expenses	818	836
Income from operations	442	389
Interest expense, net	124	119
Income before income taxes	318	270
Income tax expense	47	46
Net income	271	224
Equity in earnings of consolidated subsidiaries	0	0
Net income	271	224
Comprehensive income (loss) attributable to noncontrolling interests	1	0
Net income attributable to common unitholders	270	224
Comprehensive income (loss)	474	(319)
RBILP | Reportable Legal Entities
Revenues:
Franchise and property revenues	0	0
Total revenues	0	0
Operating costs and expenses:
Cost of sales	0	0
Franchise and property expenses	0	0
Advertising expenses	0	0
General and administrative expenses	0	0
(Income) loss from equity method investments	0	0
Other operating expenses (income), net	0	0
Total operating costs and expenses	0	0
Income from operations	0	0
Interest expense, net	0	0
Income before income taxes	0	0
Income tax expense	0	0
Net income	0	0
Equity in earnings of consolidated subsidiaries	271	224
Net income	271	224
Comprehensive income (loss) attributable to noncontrolling interests	1	0
Net income attributable to common unitholders	270	224
Comprehensive income (loss)	474	(319)
Sales
Revenues:
Sales	507	503
Sales | Eliminations
Revenues:
Sales	0	0
Sales | Consolidated Borrowers | Reportable Legal Entities
Revenues:
Sales	507	503
Sales | RBILP | Reportable Legal Entities
Revenues:
Sales	0	0
Advertising revenues
Revenues:
Total revenues	205	197
Advertising revenues | Eliminations
Revenues:
Total revenues	0	0
Advertising revenues | Consolidated Borrowers | Reportable Legal Entities
Revenues:
Total revenues	205	197
Advertising revenues | RBILP | Reportable Legal Entities
Revenues:
Total revenues	$ 0	$ 0

Supplemental Financial Inform_6

Supplemental Financial Information - Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net income	$ 271	$ 224
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in loss (earnings) of consolidated subsidiaries	0	0
Depreciation and amortization	49	45
Amortization of deferred financing costs and debt issuance discount	7	6
(Income) loss from equity method investments	2	2
(Gain) loss on remeasurement of foreign denominated transactions	(43)	(8)
Net (gains) losses on derivatives	20	(6)
Share-based compensation expense	22	19
Deferred income taxes	14	(31)
Other	(8)	(4)
Changes in current assets and liabilities, excluding acquisitions and dispositions:
Accounts and notes receivable	24	94
Increase (Decrease) in Prepaid Expense and Other Assets	(4)	(13)
Accounts and drafts payable	19	(136)
Other accrued liabilities and gift card liability	(113)	(67)
Tenant inducements paid to franchisees	0	(3)
Other long-term assets and liabilities	6	14
Net cash provided by operating activities	266	136
Cash flows from investing activities:
Payments for property and equipment	(15)	(19)
Net proceeds from disposal of assets, restaurant closures, and refranchisings	11	4
Settlement/sale of derivatives, net	2	12
Other investing activities, net	(5)	0
Net cash (used for) provided by investing activities	(7)	(3)
Cash flows from financing activities:
Proceeds from revolving line of credit and long-term debt	0	1,085
Repayments of revolving line of credit, long-term debt and finance leases	(27)	(25)
Distributions on Class A common and Partnership exchangeable units	(239)	(232)
Capital contribution from RBI	20	30
Distributions from subsidiaries	0	0
(Payments) proceeds from derivatives	(16)	(2)
Other financing activities, net	1	(1)
Net cash (used for) provided by financing activities	(261)	855
Effect of exchange rates on cash and cash equivalents	5	(23)
Increase (decrease) in cash and cash equivalents	3	965
Cash and cash equivalents at beginning of period	1,560	1,533
Cash and cash equivalents at end of period	1,563	2,498
Eliminations
Cash flows from operating activities:
Net income	(271)	(224)
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in loss (earnings) of consolidated subsidiaries	271	224
Depreciation and amortization	0	0
Amortization of deferred financing costs and debt issuance discount	0	0
(Income) loss from equity method investments	0	0
(Gain) loss on remeasurement of foreign denominated transactions	0	0
Net (gains) losses on derivatives	0	0
Share-based compensation expense	0	0
Deferred income taxes	0	0
Other	0	0
Changes in current assets and liabilities, excluding acquisitions and dispositions:
Accounts and notes receivable	0	0
Increase (Decrease) in Prepaid Expense and Other Assets	0	0
Accounts and drafts payable	0	0
Other accrued liabilities and gift card liability	0	0
Tenant inducements paid to franchisees		0
Other long-term assets and liabilities	0	0
Net cash provided by operating activities	0	0
Cash flows from investing activities:
Payments for property and equipment	0	0
Net proceeds from disposal of assets, restaurant closures, and refranchisings	0	0
Settlement/sale of derivatives, net	0	0
Other investing activities, net	0
Net cash (used for) provided by investing activities	0	0
Cash flows from financing activities:
Proceeds from revolving line of credit and long-term debt		0
Repayments of revolving line of credit, long-term debt and finance leases	0	0
Distributions on Class A common and Partnership exchangeable units	0	0
Capital contribution from RBI	0	0
Distributions from subsidiaries	0	0
(Payments) proceeds from derivatives	0	0
Other financing activities, net	0	0
Net cash (used for) provided by financing activities	0	0
Effect of exchange rates on cash and cash equivalents	0	0
Increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Consolidated Borrowers | Reportable Legal Entities
Cash flows from operating activities:
Net income	271	224
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in loss (earnings) of consolidated subsidiaries	0	0
Depreciation and amortization	49	45
Amortization of deferred financing costs and debt issuance discount	7	6
(Income) loss from equity method investments	2	2
(Gain) loss on remeasurement of foreign denominated transactions	(43)	(8)
Net (gains) losses on derivatives	20	(6)
Share-based compensation expense	22	19
Deferred income taxes	14	(31)
Other	(8)	(4)
Changes in current assets and liabilities, excluding acquisitions and dispositions:
Accounts and notes receivable	24	94
Increase (Decrease) in Prepaid Expense and Other Assets	(4)	(13)
Accounts and drafts payable	19	(136)
Other accrued liabilities and gift card liability	(113)	(67)
Tenant inducements paid to franchisees		(3)
Other long-term assets and liabilities	6	14
Net cash provided by operating activities	266	136
Cash flows from investing activities:
Payments for property and equipment	(15)	(19)
Net proceeds from disposal of assets, restaurant closures, and refranchisings	11	4
Settlement/sale of derivatives, net	2	12
Net cash (used for) provided by investing activities	(7)	(3)
Cash flows from financing activities:
Proceeds from revolving line of credit and long-term debt		1,085
Repayments of revolving line of credit, long-term debt and finance leases	(27)	(25)
Distributions on Class A common and Partnership exchangeable units	0	0
Capital contribution from RBI	20	30
Distributions from subsidiaries	(239)	(232)
(Payments) proceeds from derivatives	(16)	(2)
Other financing activities, net	1	(1)
Net cash (used for) provided by financing activities	(261)	855
Effect of exchange rates on cash and cash equivalents	5	(23)
Increase (decrease) in cash and cash equivalents	3	965
Cash and cash equivalents at beginning of period	1,560	1,533
Cash and cash equivalents at end of period	1,563	2,498
RBILP | Reportable Legal Entities
Cash flows from operating activities:
Net income	271	224
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in loss (earnings) of consolidated subsidiaries	(271)	(224)
Depreciation and amortization	0	0
Amortization of deferred financing costs and debt issuance discount	0	0
(Income) loss from equity method investments	0	0
(Gain) loss on remeasurement of foreign denominated transactions	0	0
Net (gains) losses on derivatives	0	0
Share-based compensation expense	0	0
Deferred income taxes	0	0
Other	0	0
Changes in current assets and liabilities, excluding acquisitions and dispositions:
Accounts and notes receivable	0	0
Increase (Decrease) in Prepaid Expense and Other Assets	0	0
Accounts and drafts payable	0	0
Other accrued liabilities and gift card liability	0	0
Tenant inducements paid to franchisees		0
Other long-term assets and liabilities	0	0
Net cash provided by operating activities	0	0
Cash flows from investing activities:
Payments for property and equipment	0	0
Net proceeds from disposal of assets, restaurant closures, and refranchisings	0	0
Settlement/sale of derivatives, net	0	0
Other investing activities, net	0
Net cash (used for) provided by investing activities	0	0
Cash flows from financing activities:
Proceeds from revolving line of credit and long-term debt		0
Repayments of revolving line of credit, long-term debt and finance leases	0	0
Distributions on Class A common and Partnership exchangeable units	(239)	(232)
Capital contribution from RBI	0	0
Distributions from subsidiaries	239	232
(Payments) proceeds from derivatives	0	0
Other financing activities, net	0	0
Net cash (used for) provided by financing activities	0	0
Effect of exchange rates on cash and cash equivalents	0	0
Increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	$ 0	$ 0

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - $ / shares	Apr. 06, 2021	Apr. 29, 2021	Mar. 31, 2021	Mar. 31, 2020
Subsequent Event [Line Items]
Cash dividend declared by board (in usd per share)			$ 0.81	$ 0.77
Subsequent Event
Subsequent Event [Line Items]
Common stock dividends paid (in usd per share)	$ 0.53
Cash dividend declared by board (in usd per share)		$ 0.53
Partnership exchangeable units | Restaurant Brands International Limited Partnership | Subsequent Event
Subsequent Event [Line Items]
Cash dividend paid per exchangeable unit (in usd per unit)	$ 0.53	$ 0.53