Restaurant Brands International Limited Partnership (RSTRF) 10-Q 2 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	Apr. 25, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
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, Postal Zip Code	M5X 1E1
Entity Address, City or Town	Toronto,
Entity Address, State or Province	ON
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	2023
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)		140,782,568
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, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 1,033	$ 1,178	$ 895	$ 1,087
Accounts and notes receivable, net of allowance of $41 and $36, respectively	612	614
Inventories, net	145	133
Prepaids and other current assets	103	123
Total current assets	1,893	2,048
Property and equipment, net of accumulated depreciation and amortization of $1,092 and $1,061, respectively	1,943	1,950
Operating lease assets, net	1,075	1,082
Intangible assets, net	11,005	10,991
Goodwill	5,700	5,688
Net investment in property leased to franchisees	83	82
Other assets, net	827	905
Total assets	22,526	22,746
Current liabilities:
Accounts and drafts payable	679	758
Other accrued liabilities	901	1,001
Gift card liability	174	230
Current portion of long-term debt and finance leases	128	127
Total current liabilities	1,882	2,116
Long-term debt, net of current portion	12,821	12,839
Finance leases, net of current portion	310	311
Operating lease liabilities, net of current portion	1,019	1,027
Other liabilities, net	895	872
Deferred income taxes, net	1,288	1,313
Total liabilities	18,215	18,478
Partners’ capital:
Accumulated other comprehensive income (loss)	(1,020)	(973)
Total Partners’ capital	4,309	4,266
Noncontrolling interests	2	2
Total equity	4,311	4,268	$ 3,961	$ 3,853
Total liabilities and equity	22,526	22,746
Class A common units
Partners’ capital:
Class A common units; 202,006,067 issued and outstanding at March 31, 2023 and December 31, 2022	8,951	8,735
Partnership exchangeable units
Partners’ capital:
Partnership exchangeable units; 140,782,568 issued and outstanding at March 31, 2023; 142,996,640 issued and outstanding at December 31, 2022	$ (3,622)	$ (3,496)

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Financing receivable, allowance for credit loss, current	$ 41	$ 36
Accumulated depreciation and amortization, property, plant, and equipment	$ 1,092	$ 1,061
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)	140,782,568	142,996,640
Partnership exchangeable units, outstanding (in shares)	140,782,568	142,996,640

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues:
Total revenues	$ 1,590	$ 1,451
Operating costs and expenses:
Cost of sales	550	494
Franchise and property expenses	123	130
Advertising expenses and other services	271	247
General and administrative expenses	175	133
(Income) loss from equity method investments	7	13
Other operating expenses (income), net	17	(16)
Total operating costs and expenses	1,143	1,001
Income from operations	447	450
Interest expense, net	142	127
Income before income taxes	305	323
Income tax expense	28	53
Net income	277	270
Net income attributable to noncontrolling interests	1	1
Net income attributable to common unitholders	276	269
Class A common units
Operating costs and expenses:
Net income attributable to common unitholders	$ 189	$ 183
Earnings per unit - basic and diluted
Earnings per unit, basic (in usd per share)	$ 0.94	$ 0.91
Earnings per unit, diluted (in usd per share)	$ 0.94	$ 0.91
Weighted average units outstanding - basic and diluted (in millions):
Weighted average number of unit outstanding, basic (in shares)	202	202
Weighted average number of units outstanding, diluted (in shares)	202	202
Partnership exchangeable units
Operating costs and expenses:
Net income attributable to common unitholders	$ 87	$ 86
Earnings per unit - basic and diluted
Earnings per unit, basic (in usd per share)	$ 0.61	$ 0.59
Earnings per unit, diluted (in usd per share)	$ 0.61	$ 0.59
Weighted average units outstanding - basic and diluted (in millions):
Weighted average number of unit outstanding, basic (in shares)	143	145
Weighted average number of units outstanding, diluted (in shares)	143	145
Sales
Revenues:
Total revenues	$ 668	$ 609
Franchise and property revenues
Revenues:
Total revenues	668	615
Advertising revenues and other services
Revenues:
Total revenues	$ 254	$ 227

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 277	$ 270
Foreign currency translation adjustment	40	57
Net change in fair value of net investment hedges, net of tax of $4 and $25	(31)	(35)
Net change in fair value of cash flow hedges, net of tax of $15 and $(60)	(43)	161
Amounts reclassified to earnings of cash flow hedges, net of tax of $5 and $(7)	(13)	21
Gain (loss) recognized on other, net of tax of $0 and $0	0	1
Other comprehensive income (loss)	(47)	205
Comprehensive income (loss)	230	475
Comprehensive income (loss) attributable to noncontrolling interests	1	1
Comprehensive income (loss) attributable to common unitholders	$ 229	$ 474

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net change in fair value of net investment hedges, tax	$ 4	$ 25
Net change in fair value of cash flow hedges, tax	15	(60)
Amounts reclassified to earnings of cash flow hedges, tax	5	(7)
Gain (loss) recognized on other, tax	$ 0	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Equity - USD ($) $ in Millions	Total	Accumulated  Other Comprehensive Income (Loss)	Noncontrolling Interest	Class A common units	Class A common units Common Stock	Partnership exchangeable units	Partnership exchangeable units Partnership Exchangeable Units
Beginning balance Class A (in shares) at Dec. 31, 2021					202,006,067
Beginning balances at Dec. 31, 2021	$ 3,853	$ (1,024)	$ 3		$ 8,421		$ (3,547)
Beginning balance partnership exchangeable unit (in shares) at Dec. 31, 2021							144,993,458
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distributions declared on Class A common units	(167)				(167)
Distributions declared on partnership exchangeable units	(78)						$ (78)
Exchange of Partnership exchangeable units for RBI common shares	0				84		$ (84)
Exchange of Partnership exchangeable units for RBI common shares (in shares)							(1,525,900)
Distribution to RBI for repurchase of RBI common shares	(161)				(161)
Capital contribution from RBI	40				40
Restaurant VIE contributions (distributions)	(1)		(1)
Net income	270		1		$ 183		$ 86
Other comprehensive income (loss)	205	205
Ending balance Class A (in shares) at Mar. 31, 2022					202,006,067
Ending balances at Mar. 31, 2022	3,961	(819)	3		$ 8,400		$ (3,623)
Ending balance partnership exchangeable units (in shares) at Mar. 31, 2022							143,467,558
Beginning balance Class A (in shares) at Dec. 31, 2022				202,006,067	202,006,067
Beginning balances at Dec. 31, 2022	4,268	(973)	2		$ 8,735		$ (3,496)
Beginning balance partnership exchangeable unit (in shares) at Dec. 31, 2022						142,996,640	142,996,640
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distributions declared on Class A common units	(171)				(171)
Distributions declared on partnership exchangeable units	(77)						$ (77)
Exchange of Partnership exchangeable units for RBI common shares	0				136		$ (136)
Exchange of Partnership exchangeable units for RBI common shares (in shares)						(2,214,072)	(2,214,072)
Capital contribution from RBI	62				62
Restaurant VIE contributions (distributions)	(1)		(1)
Net income	277		1		$ 189		$ 87
Other comprehensive income (loss)	(47)	(47)
Ending balance Class A (in shares) at Mar. 31, 2023				202,006,067	202,006,067
Ending balances at Mar. 31, 2023	$ 4,311	$ (1,020)	$ 2		$ 8,951		$ (3,622)
Ending balance partnership exchangeable units (in shares) at Mar. 31, 2023						140,782,568	140,782,568

Condensed Consolidated Statem_5

Condensed Consolidated Statement of Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Class A common units
Cash dividend declared (in usd per share)	$ 0.85	$ 0.83
Partnership exchangeable units
Cash dividend declared (in usd per share)	$ 0.55	$ 0.54

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net income	$ 277	$ 270
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	46	49
Amortization of deferred financing costs and debt issuance discount	7	7
(Income) loss from equity method investments	7	13
(Gain) loss on remeasurement of foreign denominated transactions	8	(21)
Net (gains) losses on derivatives	(34)	18
Share-based compensation and non-cash incentive compensation expense	45	27
Deferred income taxes	(28)	(16)
Other	1	9
Changes in current assets and liabilities, excluding acquisitions and dispositions:
Accounts and notes receivable	(8)	(46)
Inventories and prepaids and other current assets	(20)	(22)
Accounts and drafts payable	(81)	18
Other accrued liabilities and gift card liability	(123)	(91)
Tenant inducements paid to franchisees	(6)	(2)
Other long-term assets and liabilities	4	21
Net cash provided by operating activities	95	234
Cash flows from investing activities:
Payments for property and equipment	(18)	(10)
Net proceeds from disposal of assets, restaurant closures, and refranchisings	4	4
Settlement/sale of derivatives, net	14	3
Other investing activities, net	0	4
Net cash (used for) provided by investing activities	0	1
Cash flows from financing activities:
Proceeds from long-term debt	0	1
Repayments of long-term debt and finance leases	(32)	(21)
Distributions on Class A common and Partnership exchangeable units	(243)	(241)
Distribution to RBI for repurchase of RBI common shares	0	(161)
Capital contribution from RBI	6	3
(Payments) proceeds from derivatives	29
(Payments) proceeds from derivatives		(6)
Other financing activities, net	0	(1)
Net cash (used for) provided by financing activities	(240)	(426)
Effect of exchange rates on cash and cash equivalents	0	(1)
Increase (decrease) in cash and cash equivalents	(145)	(192)
Cash and cash equivalents at beginning of period	1,178	1,087
Cash and cash equivalents at end of period	1,033	895
Supplemental cash flow disclosures:
Interest paid	163	75
Income taxes paid	$ 61	$ 42

Description of Business and Org

Description of Business and Organization	3 Months Ended
	Mar. 31, 2023
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”), chicken principally under the Popeyes ® brand (“Popeyes” or “PLK”) and sandwiches under the Firehouse Subs ® brand (“Firehouse” or “FHS”). 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, 2023, we franchised or owned 5,620 Tim Hortons restaurants, 18,911 Burger King restaurants, 4,178 Popeyes restaurants and 1,247 Firehouse Subs restaurants, for a total of 29,956 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, 2023
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 22, 2023. 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. Investments in other affiliates that are owned 50% or less where we have significant influence are accounted for by the equity method. All material intercompany balances and transactions have been eliminated in consolidation. 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, 2023 and December 31, 2022, we determined that we are the primary beneficiary of 41 Restaurant VIEs 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. Supplier Finance Programs Our TH business includes individually negotiated contracts with suppliers, which include payment terms that range up to 120 days. A global financial institution offers a voluntary supply chain finance (“SCF”) program to certain TH vendors, which provides suppliers that elect to participate with the ability to elect early payment, which is discounted based on the payment terms and a rate based on RBI's credit rating, which may be beneficial to the vendor. Participation in the SCF program is at the sole discretion of the suppliers and financial institution and we are not a party to the arrangements between the suppliers and the financial institution. Our obligations to suppliers are not affected by the suppliers’ decisions to participate in the SCF program and our payment terms remain the same based on the original supplier invoicing terms and conditions. No guarantees are provided by us or any of our subsidiaries in connection with the SCF Program. Our confirmed outstanding obligations under the SCF program at March 31, 2023 and December 31, 2022 totaled $37 million and $47 million, respectively, and are classified as Accounts and drafts payable in our condensed consolidated balance sheets. All activity related to the obligations is classified as Cost of sales in our condensed consolidated statements of operations and presented within cash flows from operating activities in our condensed consolidated statements of cash flows.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2023
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Accounting Relief for the Transition Away from LIBOR and Certain other Reference Rates – In March 2020 and as clarified in January 2021 and December 2022, the Financial Accounting Standards Board (“FASB”) issued guidance which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. This amendment is effective as of March 12, 2020 through December 31, 2024. The expedients and exceptions provided by this new guidance do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2024, except for hedging relationships existing as of December 31, 2024, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationships. During 2021, we adopted certain of the expedients as it relates to hedge accounting as certain of our debt agreements and hedging relationships bear interest at variable rates, primarily U.S. dollar LIBOR. The adoption of and future elections under this new guidance did not and are not expected to have a material impact on our Financial Statements. We will continue to monitor the discontinuance of LIBOR on our debt agreements and hedging relationships. Liabilities—Supplier Finance Programs – In September 2022, the FASB issued guidance that requires buyers in a supplier finance program to disclose sufficient information about the program to allow investors to understand the program's nature, activity during the period, changes from period to period, and potential magnitude. These disclosures would include the key terms of the program, as well as the obligation amount that the buyer has confirmed as valid to the third party that is outstanding at the end of the reporting period, a rollforward of that amount, and a description of where that amount is presented in the balance sheet. This amendment is effective in 2023, except for the amendment on rollforward information which is effective in 2024, with early adoption permitted. This guidance should be applied retrospectively to each period in which a balance sheet is presented, except for the amendment on rollforward information, which should be applied prospectively. During the first quarter of 2023, we adopted this guidance and added necessary disclosures upon adoption as disclosed in Note 2, Basis of Presentation and Consolidation

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Leases	Leases Property revenues consist primarily of lease income from operating leases and earned income on direct financing leases and sales-type leases with franchisees as follows (in millions): Three Months Ended 2023 2022 Lease income - operating leases Minimum lease payments $ 98 $ 113 Variable lease payments 96 73 Subtotal - lease income from operating leases 194 186 Earned income on direct financing and sales-type leases 2 2 Total property revenues $ 196 $ 188
Leases	Leases Property revenues consist primarily of lease income from operating leases and earned income on direct financing leases and sales-type leases with franchisees as follows (in millions): Three Months Ended 2023 2022 Lease income - operating leases Minimum lease payments $ 98 $ 113 Variable lease payments 96 73 Subtotal - lease income from operating leases 194 186 Earned income on direct financing and sales-type leases 2 2 Total property revenues $ 196 $ 188

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2023
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 franchise fees and 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 on a consolidated basis between December 31, 2022 and March 31, 2023 (in millions): Contract Liabilities Balance at December 31, 2022 $ 540 Recognized during period and included in the contract liability balance at the beginning of the year (14) Increase, excluding amounts recognized as revenue during the period 14 Impact of foreign currency translation 2 Balance at March 31, 2023 $ 542 The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) on a consolidated basis as of March 31, 2023 (in millions): Contract liabilities expected to be recognized in Remainder of 2023 $ 40 2024 51 2025 48 2026 46 2027 42 Thereafter 315 Total $ 542 Disaggregation of Total Revenues The following tables disaggregate revenue by segment (in millions): Three months ended March 31, 2023 TH BK PLK FHS Total Sales $ 618 $ 19 $ 21 $ 10 $ 668 Royalties 77 273 75 17 442 Property revenues 137 56 3 — 196 Franchise fees and other revenue 6 15 3 6 30 Advertising revenues and other services 62 121 66 5 254 Total revenues $ 900 $ 484 $ 168 $ 38 $ 1,590 Three months ended March 31, 2022 TH BK PLK FHS Total Sales $ 566 $ 16 $ 17 $ 10 $ 609 Royalties 69 251 67 16 403 Property revenues 130 55 3 — 188 Franchise fees and other revenue 7 12 1 4 24 Advertising revenues and other services 57 109 60 1 227 Total revenues $ 829 $ 443 $ 148 $ 31 $ 1,451

Earnings per Unit

Earnings per Unit	3 Months Ended
	Mar. 31, 2023
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. 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 RBI 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 2023 2022 Allocation of net income among partner interests: Net income allocated to Class A common unitholders $ 189 $ 183 Net income allocated to Partnership exchangeable unitholders 87 86 Net income attributable to common unitholders $ 276 $ 269 Denominator - basic and diluted partnership units: Weighted average Class A common units 202 202 Weighted average Partnership exchangeable units 143 145 Earnings per unit - basic and diluted: Class A common units (a) $ 0.94 $ 0.91 Partnership exchangeable units (a) $ 0.61 $ 0.59 (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, 2023
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, 2023 December 31, 2022 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Identifiable assets subject to amortization: Franchise agreements $ 722 $ (322) $ 400 $ 720 $ (313) $ 407 Favorable leases 88 (57) 31 90 (57) 33 Subtotal 810 (379) 431 810 (370) 440 Indefinite-lived intangible assets: Tim Hortons brand $ 6,308 $ — $ 6,308 $ 6,292 $ — $ 6,292 Burger King brand 2,095 — 2,095 2,088 — 2,088 Popeyes brand 1,355 — 1,355 1,355 — 1,355 Firehouse Subs brand 816 — 816 816 — 816 Subtotal 10,574 — 10,574 10,551 — 10,551 Intangible assets, net $ 11,005 $ 10,991 Goodwill: Tim Hortons segment $ 4,069 $ 4,059 Burger King segment 592 590 Popeyes segment 846 846 Firehouse Subs segment 193 193 Total $ 5,700 $ 5,688 Amortization expense on intangible assets totaled $9 million and $10 million for the three months ended March 31, 2023 and 2022, respectively. The change in brands and goodwill balances during the three months ended March 31, 2023 was due to the impact of foreign currency translation.

Equity Method Investments

Equity Method Investments	3 Months Ended
	Mar. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Equity Method Investments The aggregate carrying amounts of our equity method investments were $152 million and $167 million as of March 31, 2023 and December 31, 2022, respectively, and are included as a component of Other assets, net in our accompanying condensed consolidated balance sheets. 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 15.1% equity interest in Carrols Restaurant Group, Inc. based on the quoted market price on March 31, 2023 was approximately $21 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, 2023 was approximately $24 million. The aggregate market value of our 4.2% equity interest in TH International Limited based on the quoted market price on March 31, 2023 was approximately $28 million. We have equity interests in entities that own or franchise Tim Hortons, Burger King and Popeyes restaurants. Sales, 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 2023 2022 Revenues from affiliates: Royalties $ 92 $ 88 Advertising revenues and other services 18 16 Property revenues 9 7 Franchise fees and other revenue 5 4 Sales 4 4 Total $ 128 $ 119 At March 31, 2023 and December 31, 2022, we had $45 million and $42 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. 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 $2 million and $3 million during the three months ended March 31, 2023 and 2022, respectively. Associated with the TIMWEN Partnership, we recognized $4 million of rent expense during the three months ended March 31, 2023 and 2022.

Other Accrued Liabilities and O

Other Accrued Liabilities and Other Liabilities, net	3 Months Ended
	Mar. 31, 2023
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 $ 249 $ 243 Interest payable 99 89 Accrued compensation and benefits 55 124 Taxes payable 153 190 Deferred income 55 43 Accrued advertising expenses 43 37 Restructuring and other provisions 29 29 Current portion of operating lease liabilities 138 137 Other 80 109 Other accrued liabilities $ 901 $ 1,001 Noncurrent: Taxes payable $ 140 $ 139 Contract liabilities 542 540 Derivatives liabilities 44 34 Unfavorable leases 48 50 Accrued pension 41 40 Deferred income 54 44 Other 26 25 Other liabilities, net $ 895 $ 872

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2023
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 $ 5,176 $ 5,190 Term Loan A 1,242 1,250 3.875% First Lien Senior Notes due 2028 1,550 1,550 3.50% First Lien Senior Notes due 2029 750 750 5.75% First Lien Senior Notes due 2025 500 500 4.375% Second Lien Senior Notes due 2028 750 750 4.00% Second Lien Senior Notes due 2030 2,900 2,900 TH Facility and other 154 155 Less: unamortized deferred financing costs and deferred issue discount (105) (111) Total debt, net 12,917 12,934 Less: current maturities of debt (96) (95) Total long-term debt $ 12,821 $ 12,839 Credit Facilities Following the discontinuance of the US dollar LIBOR after June 30, 2023, the Financial Conduct Authority (“FCA”) has decided to require the publication of a US dollar LIBOR using a synthetic methodology (“synthetic US dollar LIBOR”) until September 30, 2024. LIBOR is currently used under our Term Loan B facility. Revolving Credit Facility As of March 31, 2023, 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, 2023, we had approximately C$200 million outstanding under the TH Facility with a weighted average interest rate of 6.33%. RE Facility One of our subsidiaries entered into a non-revolving delayed drawdown term credit facility in a total aggregate principal amount of $50 million with a maturity date of October 12, 2028 (the “RE Facility”). The interest rate applicable to the RE Facility is, at our option, either (i) a base rate, subject to a floor of 0.50%, plus an applicable margin of 0.50% or (ii) Adjusted Term SOFR (Adjusted Term SOFR is calculated as Term SOFR plus a margin based on duration), subject to a floor of 0.00%, plus an applicable margin of 1.50%. Obligations under the RE Facility are guaranteed by four of our subsidiaries, and amounts borrowed under the RE Facility are secured by certain parcels of real estate. As of March 31, 2023, we had approximately $2 million outstanding under the RE Facility with a weighted average interest rate of 6.42%. Restrictions and Covenants As of March 31, 2023, 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, the RE 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 $ 12,120 $ 11,885 Principal carrying amount of our variable term debt and senior notes 12,868 12,890 Interest Expense, net Interest expense, net consists of the following (in millions): Three Months Ended March 31, 2023 2022 Debt (a) $ 138 $ 115 Finance lease obligations 4 5 Amortization of deferred financing costs and debt issuance discount 7 7 Interest income (7) — Interest expense, net $ 142 $ 127 (a) Amount includes $15 million and $11 million benefit during the three months ended March 31, 2023 and 2022, respectively, related to the quarterly net settlements of our cross-currency rate swaps and amortization of the Excluded Component as defined in Note 13, Derivative Instruments .

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesOur effective tax rate was 9.1% for the three months ended March 31, 2023. The effective tax rate during this period reflects the mix of income from multiple tax jurisdictions, the impact of internal financing arrangements and favorable structural changes in 2022. Our effective tax rate was 16.6% for the three months ended March 31, 2022. The effective tax rate during this period reflects the mix of income from multiple tax jurisdictions, the impact of internal financing arrangements and favorable structural changes.

Equity

Equity	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Equity	Equity During the three months ended March 31, 2023, Partnership exchanged 2,214,072 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, 2022 $ 944 $ (24) $ (1,893) $ (973) Foreign currency translation adjustment — — 40 40 Net change in fair value of derivatives, net of tax (74) — — (74) Amounts reclassified to earnings of cash flow hedges, net of tax (13) — — (13) Balance at March 31, 2023 $ 857 $ (24) $ (1,853) $ (1,020)

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2023
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 and derivatives designated as net investment hedges. We use derivatives to manage our exposure to fluctuations in interest rates and currency exchange rates. Interest Rate Swaps At March 31, 2023, 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”), including any subsequent refinancing or replacement of the Term Loan Facilities, beginning August 31, 2021 through the termination date of October 31, 2028. Additionally, at March 31, 2023, 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, net of tax, and reclassified into interest expense during the period in which the hedged forecasted transaction affects earnings. The net amount of pre-tax gains in connection with these net unrealized gains in AOCI as of March 31, 2023 that we expect to be reclassified into interest expense within the next 12 months is $84 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, 2023, 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, 2023, we had outstanding cross-currency rate swaps that we entered into during 2022 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 in which we receive quarterly fixed-rate interest payments on the U.S. dollar notional amount of $5,000 million through the maturity date of September 30, 2028. At March 31, 2023, 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, 2023, 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 and $150 million, entered during 2021, through the maturity date of October 31, 2028. 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, 2023, 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 $205 million with maturities to May 2024. 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, 2023 2022 Derivatives designated as cash flow hedges (1) Interest rate swaps $ (57) $ 223 Forward-currency contracts $ (1) $ (2) Derivatives designated as net investment hedges Cross-currency rate swaps $ (35) $ (60) (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, 2023 2022 Derivatives designated as cash flow hedges Interest rate swaps Interest expense, net $ 15 $ (29) Forward-currency contracts Cost of sales $ 3 $ 1 Location of Gain or (Loss) Recognized in Earnings Gain or (Loss) Recognized in Earnings Three Months Ended March 31, 2023 2022 Derivatives designated as net investment hedges Cross-currency rate swaps Interest expense, net $ 15 $ 11 Fair Value as of March 31, December 31, 2022 Balance Sheet Location Assets: Derivatives designated as cash flow hedges Interest rate $ 195 $ 280 Other assets, net Foreign currency 4 7 Prepaids and other current assets Derivatives designated as net investment hedges Foreign currency 56 78 Other assets, net Total assets at fair value $ 255 $ 365 Liabilities: Derivatives designated as cash flow hedges Foreign currency $ 1 $ — Other accrued liabilities Derivatives designated as net investment hedges Foreign currency 44 34 Other liabilities, net Total liabilities at fair value $ 45 $ 34

Other Operating Expenses (Incom

Other Operating Expenses (Income), net	3 Months Ended
	Mar. 31, 2023
Other Income and Expenses [Abstract]
Other Operating Expenses (Income), net	Other Operating Expenses (Income), net Other operating expenses (income), net consists of the following (in millions): Three Months Ended March 31, 2023 2022 Net losses (gains) on disposal of assets, restaurant closures, and refranchisings $ (2) $ 2 Litigation settlements (gains) and reserves, net 1 1 Net losses (gains) on foreign exchange 8 (21) Other, net 10 2 Other operating expenses (income), net $ 17 $ (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, primarily those denominated in Euros and Canadian dollars.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
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 Company, successor in interest, (“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 Munster, 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 appealed this ruling. In August 2022, the federal appellate court reversed the lower court's decision to dismiss the case and remanded the case to the lower court for further proceedings. 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. On October 26, 2020, City of Warwick Municipal Employees Pension Fund, a purported stockholder of RBI, 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 our 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 and RBI filed a reply in May 2021. The motion to dismiss was heard in April 2022 and the motion to dismiss was denied in May 2022. On June 6, 2022, we filed an answer to the complaint and on July 8, 2022, we filed an appeal of the denial of the motion to dismiss. On November 10, 2022, the appellate division reversed the trial court and ordered that the complaint be dismissed. Plaintiffs moved for leave to appeal to the Court of Appeals of the State of New York, which RBI opposed, and on March 21, 2023, the Court of Appeals denied leave to appeal. As that decision is now final in the New York courts, we do not anticipate any further proceedings in this matter.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting As stated in Note 1, Description of Business and Organization , we manage four 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. Under the Firehouse Subs brand, we operate in the specialty subs category of the quick service segment of the restaurant industry. Our business generates revenue from the following sources: (i) sales, consisting primarily of supply chain sales, which represent sales of products, supplies and restaurant equipment to franchisees, as well as sales to retailers and sales at restaurants owned by us (“Company restaurants”); (ii) franchise revenues, consisting primarily of royalties based on a percentage of sales reported by franchise restaurants and franchise fees paid by franchisees; (iii) property revenues from properties we lease or sublease to franchisees; and (iv) advertising revenues and other services, consisting primarily of advertising fund contributions based on a percentage of sales reported by franchise restaurants. 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 2023 2022 Revenues by operating segment: TH $ 900 $ 829 BK 484 443 PLK 168 148 FHS 38 31 Total revenues $ 1,590 $ 1,451 Three Months Ended 2023 2022 Revenues by country (a): Canada $ 809 $ 747 United States 573 521 Other 208 183 Total revenues $ 1,590 $ 1,451 (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 (benefit) 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, income/expenses from non-recurring projects and non-operating activities included (i) non-recurring fees and expense incurred in connection with the Firehouse Acquisition consisting of professional fees, compensation-related expenses and integration costs (“FHS Transaction costs”); and (ii) non-operating costs from professional advisory and consulting services associated with certain transformational corporate restructuring initiatives that rationalize our structure and optimize cash movements, including services related to significant tax reform legislation, regulations and related restructuring initiatives (“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 performance. A reconciliation of segment income to net income consists of the following (in millions): Three Months Ended 2023 2022 Segment income: TH $ 251 $ 231 BK 256 229 PLK 66 56 FHS 15 14 Adjusted EBITDA 588 530 Share-based compensation and non-cash incentive compensation expense 45 27 FHS Transaction costs 19 1 Corporate restructuring and tax advisory fees 5 3 Impact of equity method investments (a) 9 16 Other operating expenses (income), net 17 (16) EBITDA 493 499 Depreciation and amortization 46 49 Income from operations 447 450 Interest expense, net 142 127 Income tax expense 28 53 Net income $ 277 $ 270 (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, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Financial Information	Supplemental Financial Information 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. The Issuers entered into the 3.875% First Lien Senior Notes Indenture with respect to the 3.875% First Lien Senior Notes due 2028. The Issuers entered into the 3.500% First Lien Senior Notes Indenture with respect to the 3.500% First Lien Senior Notes due 2029. The Issuers entered into the 5.750% First Lien Senior Notes Indenture with respect to the 5.750% First Lien Senior Notes due 2025. The Issuers entered into the 4.375% Second Lien Senior Notes Indenture with respect to the 4.375% Second Lien Senior Notes due 2028. The Issuers entered into the 4.000% Second Lien Senior Notes Indenture with respect to the 4.000% Second Lien Senior Notes due 2030. The agreement governing our Credit Facilities, the 3.875% First Lien Senior Notes Indenture, the 3.500% First Lien Senior Notes Indenture, the 5.750% First Lien Senior Notes Indenture, the 4.375% Second Lien Senior Notes Indenture and the 4.000% Second Lien 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, 2023 Consolidated Borrowers RBILP Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 1,033 $ — $ — $ 1,033 Accounts and notes receivable, net 612 — — 612 Inventories, net 145 — — 145 Prepaids and other current assets 103 — — 103 Total current assets 1,893 — — 1,893 Property and equipment, net 1,943 — — 1,943 Operating lease assets, net 1,075 — — 1,075 Intangible assets, net 11,005 — — 11,005 Goodwill 5,700 — — 5,700 Net investment in property leased to franchisees 83 — — 83 Intercompany receivable — 249 (249) — Investment in subsidiaries — 4,311 (4,311) — Other assets, net 827 — — 827 Total assets $ 22,526 $ 4,560 $ (4,560) $ 22,526 LIABILITIES AND EQUITY Current liabilities: Accounts and drafts payable $ 679 $ — $ — $ 679 Other accrued liabilities 652 249 — 901 Gift card liability 174 — — 174 Current portion of long-term debt and finance leases 128 — — 128 Total current liabilities 1,633 249 — 1,882 Long-term debt, net of current portion 12,821 — — 12,821 Finance leases, net of current portion 310 — — 310 Operating lease liabilities, net of current portion 1,019 — — 1,019 Other liabilities, net 895 — — 895 Payables to affiliates 249 — (249) — Deferred income taxes, net 1,288 — — 1,288 Total liabilities 18,215 249 (249) 18,215 Partners’ capital: Class A common units — 8,951 — 8,951 Partnership exchangeable units — (3,622) — (3,622) Common shares 2,556 — (2,556) — Retained earnings 2,773 — (2,773) — Accumulated other comprehensive income (loss) (1,020) (1,020) 1,020 (1,020) Total Partners' capital/shareholders' equity 4,309 4,309 (4,309) 4,309 Noncontrolling interests 2 2 (2) 2 Total equity 4,311 4,311 (4,311) 4,311 Total liabilities and equity $ 22,526 $ 4,560 $ (4,560) $ 22,526 RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidating Balance Sheets (In millions of U.S. dollars) As of December 31, 2022 Consolidated Borrowers RBILP Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 1,178 $ — $ — $ 1,178 Accounts and notes receivable, net 614 — — 614 Inventories, net 133 — — 133 Prepaids and other current assets 123 — — 123 Total current assets 2,048 — — 2,048 Property and equipment, net 1,950 — — 1,950 Operating lease assets. net 1,082 — — 1,082 Intangible assets, net 10,991 — — 10,991 Goodwill 5,688 — — 5,688 Net investment in property leased to franchisees 82 — — 82 Intercompany receivable — 243 (243) — Investment in subsidiaries — 4,268 (4,268) — Other assets, net 905 — — 905 Total assets $ 22,746 $ 4,511 $ (4,511) $ 22,746 LIABILITIES AND EQUITY Current liabilities: Accounts and drafts payable $ 758 $ — $ — $ 758 Other accrued liabilities 758 243 — 1,001 Gift card liability 230 — — 230 Current portion of long-term debt and finance leases 127 — — 127 Total current liabilities 1,873 243 — 2,116 Long-term debt, net of current portion 12,839 — — 12,839 Finance leases, net of current portion 311 — — 311 Operating lease liabilities, net of current portion 1,027 — — 1,027 Other liabilities, net 872 — — 872 Payables to affiliates 243 — (243) — Deferred income taxes, net 1,313 — — 1,313 Total liabilities 18,478 243 (243) 18,478 Partners’ capital: Class A common units — 8,735 — 8,735 Partnership exchangeable units — (3,496) — (3,496) Common shares 2,494 — (2,494) — Retained earnings 2,745 — (2,745) — Accumulated other comprehensive income (loss) (973) (973) 973 (973) Total Partners' capital/shareholders' equity 4,266 4,266 (4,266) 4,266 Noncontrolling interests 2 2 (2) 2 Total equity 4,268 4,268 (4,268) 4,268 Total liabilities and equity $ 22,746 $ 4,511 $ (4,511) $ 22,746 RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidating Statements of Operations (In millions of U.S. dollars) Three Months Ended March 31, 2023 Consolidated Borrowers RBILP Eliminations Consolidated Revenues: Sales $ 668 $ — $ — $ 668 Franchise and property revenues 668 — — 668 Advertising revenues and other services 254 — — 254 Total revenues 1,590 — — 1,590 Operating costs and expenses: Cost of sales 550 — — 550 Franchise and property expenses 123 — — 123 Advertising expenses and other services 271 — — 271 General and administrative expenses 175 — — 175 (Income) loss from equity method investments 7 — — 7 Other operating expenses (income), net 17 — — 17 Total operating costs and expenses 1,143 — — 1,143 Income from operations 447 — — 447 Interest expense, net 142 — — 142 Income before income taxes 305 — — 305 Income tax expense 28 — — 28 Net income 277 — — 277 Equity in earnings of consolidated subsidiaries — 277 (277) — Net income (loss) 277 277 (277) 277 Net income (loss) attributable to noncontrolling interests 1 1 (1) 1 Net income (loss) attributable to common unitholders $ 276 $ 276 $ (276) $ 276 Comprehensive income (loss) $ 230 $ 230 $ (230) $ 230 RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidating Statements of Operations (In millions of U.S. dollars) Three Months Ended March 31, 2022 Consolidated Borrowers RBILP Eliminations Consolidated Revenues: Sales $ 609 $ — $ — $ 609 Franchise and property revenues 615 — — 615 Advertising revenues and other services 227 — — 227 Total revenues 1,451 — — 1,451 Operating costs and expenses: Cost of sales 494 — — 494 Franchise and property expenses 130 — — 130 Advertising expenses and other services 247 — — 247 General and administrative expenses 133 — — 133 (Income) loss from equity method investments 13 — — 13 Other operating expenses (income), net (16) — — (16) Total operating costs and expenses 1,001 — — 1,001 Income from operations 450 — — 450 Interest expense, net 127 — — 127 Income before income taxes 323 — — 323 Income tax expense 53 — — 53 Net income 270 — — 270 Equity in earnings of consolidated subsidiaries — 270 (270) — Net income (loss) 270 270 (270) 270 Net income (loss) attributable to noncontrolling interests 1 1 (1) 1 Net income (loss) attributable to common unitholders $ 269 $ 269 $ (269) $ 269 Comprehensive income (loss) $ 475 $ 475 $ (475) $ 475 RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidating Statements of Cash Flows (In millions of U.S. dollars) Three months ended March 31, 2023 Consolidated Borrowers RBILP Eliminations Consolidated Cash flows from operating activities: Net income $ 277 $ 277 $ (277) $ 277 Adjustments to reconcile net income to net cash provided by operating activities: Equity in loss (earnings) of consolidated subsidiaries — (277) 277 — Depreciation and amortization 46 — — 46 Amortization of deferred financing costs and debt issuance discount 7 — — 7 (Income) loss from equity method investments 7 — — 7 (Gain) loss on remeasurement of foreign denominated transactions 8 — — 8 Net (gains) losses on derivatives (34) — — (34) Share-based compensation and non-cash incentive compensation expense 45 — — 45 Deferred income taxes (28) — — (28) Other 1 — — 1 Changes in current assets and liabilities, excluding acquisitions and dispositions: Accounts and notes receivable (8) — — (8) Inventories and prepaids and other current assets (20) — — (20) Accounts and drafts payable (81) — — (81) Other accrued liabilities and gift card liability (123) — — (123) Tenant inducements paid to franchisees (6) — — (6) Other long-term assets and liabilities 4 — — 4 Net cash provided by operating activities 95 — — 95 Cash flows from investing activities: Payments for property and equipment (18) — — (18) Net proceeds from disposal of assets, restaurant closures, and refranchisings 4 — — 4 Settlement/sale of derivatives, net 14 — — 14 Net cash (used for) provided by investing activities — — — — Cash flows from financing activities: Repayments of long-term debt and finance leases (32) — — (32) Distributions on Class A common and Partnership exchangeable units — (243) — (243) Capital contribution from RBI 6 — — 6 Distributions from subsidiaries (243) 243 — — (Payments) proceeds from derivatives 29 — — 29 Net cash (used for) provided by financing activities (240) — — (240) Effect of exchange rates on cash and cash equivalents — — — — Increase (decrease) in cash and cash equivalents (145) — — (145) Cash and cash equivalents at beginning of period 1,178 — — 1,178 Cash and cash equivalents at end of period $ 1,033 $ — $ — $ 1,033 RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidating Statements of Cash Flows (In millions of U.S. dollars) Three Months Ended March 31, 2022 Consolidated Borrowers RBILP Eliminations Consolidated Cash flows from operating activities: Net income $ 270 $ 270 $ (270) $ 270 Adjustments to reconcile net income to net cash provided by operating activities: Equity in loss (earnings) of consolidated subsidiaries — (270) 270 — Depreciation and amortization 49 — — 49 Amortization of deferred financing costs and debt issuance discount 7 — — 7 (Income) loss from equity method investments 13 — — 13 (Gain) loss on remeasurement of foreign denominated transactions (21) — — (21) Net (gains) losses on derivatives 18 — — 18 Share-based compensation and non-cash incentive compensation expense 27 — — 27 Deferred income taxes (16) — — (16) Other 9 — — 9 Changes in current assets and liabilities, excluding acquisitions and dispositions: Accounts and notes receivable (46) — — (46) Inventories and prepaids and other current assets (22) — — (22) Accounts and drafts payable 18 — — 18 Other accrued liabilities and gift card liability (91) — — (91) Tenant inducements paid to franchisees (2) — — (2) Other long-term assets and liabilities 21 — — 21 Net cash provided by operating activities 234 — — 234 Cash flows from investing activities: Payments for property and equipment (10) — — (10) Net proceeds from disposal of assets, restaurant closures, and refranchisings 4 — — 4 Settlement/sale of derivatives, net 3 — — 3 Other investing activities, net 4 — — 4 Net cash (used for) provided by investing activities 1 — — 1 Cash flows from financing activities: Proceeds from long-term debt 1 — — 1 Repayments of long-term debt and finance leases (21) — — (21) Distributions on Class A common and Partnership exchangeable units — (241) — (241) Distribution to RBI for repurchase of RBI common shares — (161) — (161) Capital contribution from RBI 3 — — 3 Distributions from subsidiaries (402) 402 — — (Payments) proceeds from derivatives (6) — — (6) Other financing activities, net (1) — — (1) Net cash (used for) provided by financing activities (426) — — (426) Effect of exchange rates on cash and cash equivalents (1) — — (1) Increase (decrease) in cash and cash equivalents (192) — — (192) Cash and cash equivalents at beginning of period 1,087 — — 1,087 Cash and cash equivalents at end of period $ 895 $ — $ — $ 895

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Cash Distributions/Dividends On April 5, 2023, RBI paid a cash dividend of $0.55 per RBI common share to common shareholders of record on March 22, 2023. 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 $0.55 per exchangeable unit to holders of record on March 22, 2023.

Basis of Presentation and Con_2

Basis of Presentation and Consolidation (Policies)	3 Months Ended
	Mar. 31, 2023
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 22, 2023.
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 Accounting Relief for the Transition Away from LIBOR and Certain other Reference Rates – In March 2020 and as clarified in January 2021 and December 2022, the Financial Accounting Standards Board (“FASB”) issued guidance which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. This amendment is effective as of March 12, 2020 through December 31, 2024. The expedients and exceptions provided by this new guidance do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2024, except for hedging relationships existing as of December 31, 2024, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationships. During 2021, we adopted certain of the expedients as it relates to hedge accounting as certain of our debt agreements and hedging relationships bear interest at variable rates, primarily U.S. dollar LIBOR. The adoption of and future elections under this new guidance did not and are not expected to have a material impact on our Financial Statements. We will continue to monitor the discontinuance of LIBOR on our debt agreements and hedging relationships. Liabilities—Supplier Finance Programs – In September 2022, the FASB issued guidance that requires buyers in a supplier finance program to disclose sufficient information about the program to allow investors to understand the program's nature, activity during the period, changes from period to period, and potential magnitude. These disclosures would include the key terms of the program, as well as the obligation amount that the buyer has confirmed as valid to the third party that is outstanding at the end of the reporting period, a rollforward of that amount, and a description of where that amount is presented in the balance sheet. This amendment is effective in 2023, except for the amendment on rollforward information which is effective in 2024, with early adoption permitted. This guidance should be applied retrospectively to each period in which a balance sheet is presented, except for the amendment on rollforward information, which should be applied prospectively. During the first quarter of 2023, we adopted this guidance and added necessary disclosures upon adoption as disclosed in Note 2, Basis of Presentation and Consolidation
Contract Liabilities	Contract LiabilitiesContract 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 franchise fees and upfront fees when a contract with a franchisee or master franchisee is modified and is accounted for as a termination of the existing contract.
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. 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 RBI 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.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Schedule of Property Revenues	Property revenues consist primarily of lease income from operating leases and earned income on direct financing leases and sales-type leases with franchisees as follows (in millions): Three Months Ended 2023 2022 Lease income - operating leases Minimum lease payments $ 98 $ 113 Variable lease payments 96 73 Subtotal - lease income from operating leases 194 186 Earned income on direct financing and sales-type leases 2 2 Total property revenues $ 196 $ 188

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Change in Contract Liabilities	The following table reflects the change in contract liabilities on a consolidated basis between December 31, 2022 and March 31, 2023 (in millions): Contract Liabilities Balance at December 31, 2022 $ 540 Recognized during period and included in the contract liability balance at the beginning of the year (14) Increase, excluding amounts recognized as revenue during the period 14 Impact of foreign currency translation 2 Balance at March 31, 2023 $ 542
Schedule of Estimated Revenues Expected to be Recognized	The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) on a consolidated basis as of March 31, 2023 (in millions): Contract liabilities expected to be recognized in Remainder of 2023 $ 40 2024 51 2025 48 2026 46 2027 42 Thereafter 315 Total $ 542
Disaggregation of Total Revenues	The following tables disaggregate revenue by segment (in millions): Three months ended March 31, 2023 TH BK PLK FHS Total Sales $ 618 $ 19 $ 21 $ 10 $ 668 Royalties 77 273 75 17 442 Property revenues 137 56 3 — 196 Franchise fees and other revenue 6 15 3 6 30 Advertising revenues and other services 62 121 66 5 254 Total revenues $ 900 $ 484 $ 168 $ 38 $ 1,590 Three months ended March 31, 2022 TH BK PLK FHS Total Sales $ 566 $ 16 $ 17 $ 10 $ 609 Royalties 69 251 67 16 403 Property revenues 130 55 3 — 188 Franchise fees and other revenue 7 12 1 4 24 Advertising revenues and other services 57 109 60 1 227 Total revenues $ 829 $ 443 $ 148 $ 31 $ 1,451

Earnings per Unit (Tables)

Earnings per Unit (Tables)	3 Months Ended
	Mar. 31, 2023
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 2023 2022 Allocation of net income among partner interests: Net income allocated to Class A common unitholders $ 189 $ 183 Net income allocated to Partnership exchangeable unitholders 87 86 Net income attributable to common unitholders $ 276 $ 269 Denominator - basic and diluted partnership units: Weighted average Class A common units 202 202 Weighted average Partnership exchangeable units 143 145 Earnings per unit - basic and diluted: Class A common units (a) $ 0.94 $ 0.91 Partnership exchangeable units (a) $ 0.61 $ 0.59 (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, 2023
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, 2023 December 31, 2022 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Identifiable assets subject to amortization: Franchise agreements $ 722 $ (322) $ 400 $ 720 $ (313) $ 407 Favorable leases 88 (57) 31 90 (57) 33 Subtotal 810 (379) 431 810 (370) 440 Indefinite-lived intangible assets: Tim Hortons brand $ 6,308 $ — $ 6,308 $ 6,292 $ — $ 6,292 Burger King brand 2,095 — 2,095 2,088 — 2,088 Popeyes brand 1,355 — 1,355 1,355 — 1,355 Firehouse Subs brand 816 — 816 816 — 816 Subtotal 10,574 — 10,574 10,551 — 10,551 Intangible assets, net $ 11,005 $ 10,991 Goodwill: Tim Hortons segment $ 4,069 $ 4,059 Burger King segment 592 590 Popeyes segment 846 846 Firehouse Subs segment 193 193 Total $ 5,700 $ 5,688

Equity Method Investments (Tabl

Equity Method Investments (Tables)	3 Months Ended
	Mar. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Summary of Franchise and Property Revenues	Sales, 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 2023 2022 Revenues from affiliates: Royalties $ 92 $ 88 Advertising revenues and other services 18 16 Property revenues 9 7 Franchise fees and other revenue 5 4 Sales 4 4 Total $ 128 $ 119

Other Accrued Liabilities and_2

Other Accrued Liabilities and Other Liabilities, net (Tables)	3 Months Ended
	Mar. 31, 2023
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 $ 249 $ 243 Interest payable 99 89 Accrued compensation and benefits 55 124 Taxes payable 153 190 Deferred income 55 43 Accrued advertising expenses 43 37 Restructuring and other provisions 29 29 Current portion of operating lease liabilities 138 137 Other 80 109 Other accrued liabilities $ 901 $ 1,001 Noncurrent: Taxes payable $ 140 $ 139 Contract liabilities 542 540 Derivatives liabilities 44 34 Unfavorable leases 48 50 Accrued pension 41 40 Deferred income 54 44 Other 26 25 Other liabilities, net $ 895 $ 872

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2023
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 $ 5,176 $ 5,190 Term Loan A 1,242 1,250 3.875% First Lien Senior Notes due 2028 1,550 1,550 3.50% First Lien Senior Notes due 2029 750 750 5.75% First Lien Senior Notes due 2025 500 500 4.375% Second Lien Senior Notes due 2028 750 750 4.00% Second Lien Senior Notes due 2030 2,900 2,900 TH Facility and other 154 155 Less: unamortized deferred financing costs and deferred issue discount (105) (111) Total debt, net 12,917 12,934 Less: current maturities of debt (96) (95) Total long-term debt $ 12,821 $ 12,839
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 $ 12,120 $ 11,885 Principal carrying amount of our variable term debt and senior notes 12,868 12,890
Schedule of Interest Expense, Net	Interest expense, net consists of the following (in millions): Three Months Ended March 31, 2023 2022 Debt (a) $ 138 $ 115 Finance lease obligations 4 5 Amortization of deferred financing costs and debt issuance discount 7 7 Interest income (7) — Interest expense, net $ 142 $ 127

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2022 $ 944 $ (24) $ (1,893) $ (973) Foreign currency translation adjustment — — 40 40 Net change in fair value of derivatives, net of tax (74) — — (74) Amounts reclassified to earnings of cash flow hedges, net of tax (13) — — (13) Balance at March 31, 2023 $ 857 $ (24) $ (1,853) $ (1,020)

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 2022 Derivatives designated as cash flow hedges (1) Interest rate swaps $ (57) $ 223 Forward-currency contracts $ (1) $ (2) Derivatives designated as net investment hedges Cross-currency rate swaps $ (35) $ (60) (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, 2023 2022 Derivatives designated as cash flow hedges Interest rate swaps Interest expense, net $ 15 $ (29) Forward-currency contracts Cost of sales $ 3 $ 1 Location of Gain or (Loss) Recognized in Earnings Gain or (Loss) Recognized in Earnings Three Months Ended March 31, 2023 2022 Derivatives designated as net investment hedges Cross-currency rate swaps Interest expense, net $ 15 $ 11
Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	Fair Value as of March 31, December 31, 2022 Balance Sheet Location Assets: Derivatives designated as cash flow hedges Interest rate $ 195 $ 280 Other assets, net Foreign currency 4 7 Prepaids and other current assets Derivatives designated as net investment hedges Foreign currency 56 78 Other assets, net Total assets at fair value $ 255 $ 365 Liabilities: Derivatives designated as cash flow hedges Foreign currency $ 1 $ — Other accrued liabilities Derivatives designated as net investment hedges Foreign currency 44 34 Other liabilities, net Total liabilities at fair value $ 45 $ 34

Other Operating Expenses (Inc_2

Other Operating Expenses (Income), net (Tables)	3 Months Ended
	Mar. 31, 2023
Other Income and Expenses [Abstract]
Other Operating Expenses (Income), Net	Other operating expenses (income), net consists of the following (in millions): Three Months Ended March 31, 2023 2022 Net losses (gains) on disposal of assets, restaurant closures, and refranchisings $ (2) $ 2 Litigation settlements (gains) and reserves, net 1 1 Net losses (gains) on foreign exchange 8 (21) Other, net 10 2 Other operating expenses (income), net $ 17 $ (16)

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Revenues by Geographic Segment	The following tables present revenues, by segment and by country (in millions): Three Months Ended 2023 2022 Revenues by operating segment: TH $ 900 $ 829 BK 484 443 PLK 168 148 FHS 38 31 Total revenues $ 1,590 $ 1,451 Three Months Ended 2023 2022 Revenues by country (a): Canada $ 809 $ 747 United States 573 521 Other 208 183 Total revenues $ 1,590 $ 1,451 (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)	A reconciliation of segment income to net income consists of the following (in millions): Three Months Ended 2023 2022 Segment income: TH $ 251 $ 231 BK 256 229 PLK 66 56 FHS 15 14 Adjusted EBITDA 588 530 Share-based compensation and non-cash incentive compensation expense 45 27 FHS Transaction costs 19 1 Corporate restructuring and tax advisory fees 5 3 Impact of equity method investments (a) 9 16 Other operating expenses (income), net 17 (16) EBITDA 493 499 Depreciation and amortization 46 49 Income from operations 447 450 Interest expense, net 142 127 Income tax expense 28 53 Net income $ 277 $ 270 (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, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidating Balance Sheets	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, 2023 Consolidated Borrowers RBILP Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 1,033 $ — $ — $ 1,033 Accounts and notes receivable, net 612 — — 612 Inventories, net 145 — — 145 Prepaids and other current assets 103 — — 103 Total current assets 1,893 — — 1,893 Property and equipment, net 1,943 — — 1,943 Operating lease assets, net 1,075 — — 1,075 Intangible assets, net 11,005 — — 11,005 Goodwill 5,700 — — 5,700 Net investment in property leased to franchisees 83 — — 83 Intercompany receivable — 249 (249) — Investment in subsidiaries — 4,311 (4,311) — Other assets, net 827 — — 827 Total assets $ 22,526 $ 4,560 $ (4,560) $ 22,526 LIABILITIES AND EQUITY Current liabilities: Accounts and drafts payable $ 679 $ — $ — $ 679 Other accrued liabilities 652 249 — 901 Gift card liability 174 — — 174 Current portion of long-term debt and finance leases 128 — — 128 Total current liabilities 1,633 249 — 1,882 Long-term debt, net of current portion 12,821 — — 12,821 Finance leases, net of current portion 310 — — 310 Operating lease liabilities, net of current portion 1,019 — — 1,019 Other liabilities, net 895 — — 895 Payables to affiliates 249 — (249) — Deferred income taxes, net 1,288 — — 1,288 Total liabilities 18,215 249 (249) 18,215 Partners’ capital: Class A common units — 8,951 — 8,951 Partnership exchangeable units — (3,622) — (3,622) Common shares 2,556 — (2,556) — Retained earnings 2,773 — (2,773) — Accumulated other comprehensive income (loss) (1,020) (1,020) 1,020 (1,020) Total Partners' capital/shareholders' equity 4,309 4,309 (4,309) 4,309 Noncontrolling interests 2 2 (2) 2 Total equity 4,311 4,311 (4,311) 4,311 Total liabilities and equity $ 22,526 $ 4,560 $ (4,560) $ 22,526 RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidating Balance Sheets (In millions of U.S. dollars) As of December 31, 2022 Consolidated Borrowers RBILP Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 1,178 $ — $ — $ 1,178 Accounts and notes receivable, net 614 — — 614 Inventories, net 133 — — 133 Prepaids and other current assets 123 — — 123 Total current assets 2,048 — — 2,048 Property and equipment, net 1,950 — — 1,950 Operating lease assets. net 1,082 — — 1,082 Intangible assets, net 10,991 — — 10,991 Goodwill 5,688 — — 5,688 Net investment in property leased to franchisees 82 — — 82 Intercompany receivable — 243 (243) — Investment in subsidiaries — 4,268 (4,268) — Other assets, net 905 — — 905 Total assets $ 22,746 $ 4,511 $ (4,511) $ 22,746 LIABILITIES AND EQUITY Current liabilities: Accounts and drafts payable $ 758 $ — $ — $ 758 Other accrued liabilities 758 243 — 1,001 Gift card liability 230 — — 230 Current portion of long-term debt and finance leases 127 — — 127 Total current liabilities 1,873 243 — 2,116 Long-term debt, net of current portion 12,839 — — 12,839 Finance leases, net of current portion 311 — — 311 Operating lease liabilities, net of current portion 1,027 — — 1,027 Other liabilities, net 872 — — 872 Payables to affiliates 243 — (243) — Deferred income taxes, net 1,313 — — 1,313 Total liabilities 18,478 243 (243) 18,478 Partners’ capital: Class A common units — 8,735 — 8,735 Partnership exchangeable units — (3,496) — (3,496) Common shares 2,494 — (2,494) — Retained earnings 2,745 — (2,745) — Accumulated other comprehensive income (loss) (973) (973) 973 (973) Total Partners' capital/shareholders' equity 4,266 4,266 (4,266) 4,266 Noncontrolling interests 2 2 (2) 2 Total equity 4,268 4,268 (4,268) 4,268 Total liabilities and equity $ 22,746 $ 4,511 $ (4,511) $ 22,746
Condensed Consolidating Statements of Operations	Condensed Consolidating Statements of Operations (In millions of U.S. dollars) Three Months Ended March 31, 2023 Consolidated Borrowers RBILP Eliminations Consolidated Revenues: Sales $ 668 $ — $ — $ 668 Franchise and property revenues 668 — — 668 Advertising revenues and other services 254 — — 254 Total revenues 1,590 — — 1,590 Operating costs and expenses: Cost of sales 550 — — 550 Franchise and property expenses 123 — — 123 Advertising expenses and other services 271 — — 271 General and administrative expenses 175 — — 175 (Income) loss from equity method investments 7 — — 7 Other operating expenses (income), net 17 — — 17 Total operating costs and expenses 1,143 — — 1,143 Income from operations 447 — — 447 Interest expense, net 142 — — 142 Income before income taxes 305 — — 305 Income tax expense 28 — — 28 Net income 277 — — 277 Equity in earnings of consolidated subsidiaries — 277 (277) — Net income (loss) 277 277 (277) 277 Net income (loss) attributable to noncontrolling interests 1 1 (1) 1 Net income (loss) attributable to common unitholders $ 276 $ 276 $ (276) $ 276 Comprehensive income (loss) $ 230 $ 230 $ (230) $ 230 RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidating Statements of Operations (In millions of U.S. dollars) Three Months Ended March 31, 2022 Consolidated Borrowers RBILP Eliminations Consolidated Revenues: Sales $ 609 $ — $ — $ 609 Franchise and property revenues 615 — — 615 Advertising revenues and other services 227 — — 227 Total revenues 1,451 — — 1,451 Operating costs and expenses: Cost of sales 494 — — 494 Franchise and property expenses 130 — — 130 Advertising expenses and other services 247 — — 247 General and administrative expenses 133 — — 133 (Income) loss from equity method investments 13 — — 13 Other operating expenses (income), net (16) — — (16) Total operating costs and expenses 1,001 — — 1,001 Income from operations 450 — — 450 Interest expense, net 127 — — 127 Income before income taxes 323 — — 323 Income tax expense 53 — — 53 Net income 270 — — 270 Equity in earnings of consolidated subsidiaries — 270 (270) — Net income (loss) 270 270 (270) 270 Net income (loss) attributable to noncontrolling interests 1 1 (1) 1 Net income (loss) attributable to common unitholders $ 269 $ 269 $ (269) $ 269 Comprehensive income (loss) $ 475 $ 475 $ (475) $ 475
Condensed Consolidating Statements of Cash Flows	Condensed Consolidating Statements of Cash Flows (In millions of U.S. dollars) Three months ended March 31, 2023 Consolidated Borrowers RBILP Eliminations Consolidated Cash flows from operating activities: Net income $ 277 $ 277 $ (277) $ 277 Adjustments to reconcile net income to net cash provided by operating activities: Equity in loss (earnings) of consolidated subsidiaries — (277) 277 — Depreciation and amortization 46 — — 46 Amortization of deferred financing costs and debt issuance discount 7 — — 7 (Income) loss from equity method investments 7 — — 7 (Gain) loss on remeasurement of foreign denominated transactions 8 — — 8 Net (gains) losses on derivatives (34) — — (34) Share-based compensation and non-cash incentive compensation expense 45 — — 45 Deferred income taxes (28) — — (28) Other 1 — — 1 Changes in current assets and liabilities, excluding acquisitions and dispositions: Accounts and notes receivable (8) — — (8) Inventories and prepaids and other current assets (20) — — (20) Accounts and drafts payable (81) — — (81) Other accrued liabilities and gift card liability (123) — — (123) Tenant inducements paid to franchisees (6) — — (6) Other long-term assets and liabilities 4 — — 4 Net cash provided by operating activities 95 — — 95 Cash flows from investing activities: Payments for property and equipment (18) — — (18) Net proceeds from disposal of assets, restaurant closures, and refranchisings 4 — — 4 Settlement/sale of derivatives, net 14 — — 14 Net cash (used for) provided by investing activities — — — — Cash flows from financing activities: Repayments of long-term debt and finance leases (32) — — (32) Distributions on Class A common and Partnership exchangeable units — (243) — (243) Capital contribution from RBI 6 — — 6 Distributions from subsidiaries (243) 243 — — (Payments) proceeds from derivatives 29 — — 29 Net cash (used for) provided by financing activities (240) — — (240) Effect of exchange rates on cash and cash equivalents — — — — Increase (decrease) in cash and cash equivalents (145) — — (145) Cash and cash equivalents at beginning of period 1,178 — — 1,178 Cash and cash equivalents at end of period $ 1,033 $ — $ — $ 1,033 RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP AND SUBSIDIARIES Condensed Consolidating Statements of Cash Flows (In millions of U.S. dollars) Three Months Ended March 31, 2022 Consolidated Borrowers RBILP Eliminations Consolidated Cash flows from operating activities: Net income $ 270 $ 270 $ (270) $ 270 Adjustments to reconcile net income to net cash provided by operating activities: Equity in loss (earnings) of consolidated subsidiaries — (270) 270 — Depreciation and amortization 49 — — 49 Amortization of deferred financing costs and debt issuance discount 7 — — 7 (Income) loss from equity method investments 13 — — 13 (Gain) loss on remeasurement of foreign denominated transactions (21) — — (21) Net (gains) losses on derivatives 18 — — 18 Share-based compensation and non-cash incentive compensation expense 27 — — 27 Deferred income taxes (16) — — (16) Other 9 — — 9 Changes in current assets and liabilities, excluding acquisitions and dispositions: Accounts and notes receivable (46) — — (46) Inventories and prepaids and other current assets (22) — — (22) Accounts and drafts payable 18 — — 18 Other accrued liabilities and gift card liability (91) — — (91) Tenant inducements paid to franchisees (2) — — (2) Other long-term assets and liabilities 21 — — 21 Net cash provided by operating activities 234 — — 234 Cash flows from investing activities: Payments for property and equipment (10) — — (10) Net proceeds from disposal of assets, restaurant closures, and refranchisings 4 — — 4 Settlement/sale of derivatives, net 3 — — 3 Other investing activities, net 4 — — 4 Net cash (used for) provided by investing activities 1 — — 1 Cash flows from financing activities: Proceeds from long-term debt 1 — — 1 Repayments of long-term debt and finance leases (21) — — (21) Distributions on Class A common and Partnership exchangeable units — (241) — (241) Distribution to RBI for repurchase of RBI common shares — (161) — (161) Capital contribution from RBI 3 — — 3 Distributions from subsidiaries (402) 402 — — (Payments) proceeds from derivatives (6) — — (6) Other financing activities, net (1) — — (1) Net cash (used for) provided by financing activities (426) — — (426) Effect of exchange rates on cash and cash equivalents (1) — — (1) Increase (decrease) in cash and cash equivalents (192) — — (192) Cash and cash equivalents at beginning of period 1,087 — — 1,087 Cash and cash equivalents at end of period $ 895 $ — $ — $ 895

Description of Business and O_2

Description of Business and Organization - Additional Information (Details)	Mar. 31, 2023 brand restaurant country
Basis Of Presentation [Line Items]
Number of franchised or owned restaurants	29,956
Number of countries in which company and franchise restaurants operated (more than) | country	100
Percentage of franchised restaurants	100%
Tim Hortons brand
Basis Of Presentation [Line Items]
Number of franchised or owned restaurants	5,620
Burger King brand
Basis Of Presentation [Line Items]
Number of franchised or owned restaurants	18,911
Popeyes brand
Basis Of Presentation [Line Items]
Number of franchised or owned restaurants	4,178
Firehouse Subs restaurants
Basis Of Presentation [Line Items]
Number of franchised or owned restaurants | brand	1,247

Basis of Presentation and Con_3

Basis of Presentation and Consolidation - Additional Information (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023 USD ($) restaurant	Dec. 31, 2022 USD ($) restaurant
Summary Of Accounting Policies [Line Items]
Supply chain finance | $	$ 37	$ 47
Restaurant VIEs
Summary Of Accounting Policies [Line Items]
Number of VIE consolidated restaurants | restaurant	41	41

Leases - Property Revenues (Det

Leases - Property Revenues (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Lease income - operating leases
Minimum lease payments	$ 98	$ 113
Variable lease payments	96	73
Subtotal - lease income from operating leases	194	186
Earned income on direct financing and sales-type leases	2	2
Total property revenues	$ 196	$ 188

Revenue Recognition - Change In

Revenue Recognition - Change In Contract Liabilities (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Change In Contract With Customer Liability [Roll Forward]
Beginning balance	$ 540
Recognized during period and included in the contract liability balance at the beginning of the year	(14)
Increase, excluding amounts recognized as revenue during the period	14
Impact of foreign currency translation	2
Ending balance	$ 542

Revenue Recognition - Estimated

Revenue Recognition - Estimated Revenue Recognition (Details) $ in Millions	Mar. 31, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	$ 542
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
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, period	9 months
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	$ 51
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
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	$ 48
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
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	$ 46
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
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, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities expected to be recognized in	$ 315
Revenue, remaining performance obligation, expected timing of satisfaction, period

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Total Revenues (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Property revenues	$ 196	$ 188
Total revenues	1,590	1,451
TH
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Property revenues	137	130
Total revenues	900	829
BK
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Property revenues	56	55
Total revenues	484	443
PLK
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Property revenues	3	3
Total revenues	168	148
FHS
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Property revenues	0	0
Total revenues	38	31
Sales
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	668	609
Total revenues	668	609
Sales | TH
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	618	566
Sales | BK
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	19	16
Sales | PLK
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	21	17
Sales | FHS
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	10	10
Royalties
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	442	403
Royalties | TH
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	77	69
Royalties | BK
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	273	251
Royalties | PLK
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	75	67
Royalties | FHS
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	17	16
Franchise fees and other revenue
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	30	24
Franchise fees and other revenue | TH
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	6	7
Franchise fees and other revenue | BK
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	15	12
Franchise fees and other revenue | PLK
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	3	1
Franchise fees and other revenue | FHS
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	6	4
Advertising revenues and other services
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	254	227
Total revenues	254	227
Advertising revenues and other services | TH
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	62	57
Advertising revenues and other services | BK
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	121	109
Advertising revenues and other services | PLK
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	66	60
Advertising revenues and other services | FHS
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenues	$ 5	$ 1

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, 2023	Mar. 31, 2022
Allocation of net income among partner interests:
Net income attributable to common unitholders	$ 276	$ 269
Class A common units
Allocation of net income among partner interests:
Net income attributable to common unitholders	$ 189	$ 183
Denominator - basic and diluted partnership units:
Weighted average number of unit outstanding, basic (in shares)	202	202
Weighted average number of units outstanding, diluted (in shares)	202	202
Earnings per unit - basic and diluted:
Earnings per unit, basic (in usd per share)	$ 0.94	$ 0.91
Earnings per unit, diluted (in usd per share)	$ 0.94	$ 0.91
Partnership exchangeable units
Allocation of net income among partner interests:
Net income attributable to common unitholders	$ 87	$ 86
Denominator - basic and diluted partnership units:
Weighted average number of unit outstanding, basic (in shares)	143	145
Weighted average number of units outstanding, diluted (in shares)	143	145
Earnings per unit - basic and diluted:
Earnings per unit, basic (in usd per share)	$ 0.61	$ 0.59
Earnings per unit, diluted (in usd per share)	$ 0.61	$ 0.59

Intangible Assets, net and Go_3

Intangible Assets, net and Goodwill - Schedule of Intangible Assets, net and Goodwill (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross	$ 810	$ 810
Accumulated Amortization	(379)	(370)
Net	431	440
Indefinite-lived Intangible Assets [Line Items]
Intangible assets, net	11,005	10,991
Goodwill [Line Items]
Goodwill	5,700	5,688
Tim Hortons brand
Goodwill [Line Items]
Goodwill	4,069	4,059
Burger King brand
Goodwill [Line Items]
Goodwill	592	590
Popeyes brand
Goodwill [Line Items]
Goodwill	846	846
Firehouse Subs brand
Goodwill [Line Items]
Goodwill	193	193
Trade names
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	10,574	10,551
Trade names | Tim Hortons brand
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	6,308	6,292
Trade names | Burger King brand
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	2,095	2,088
Trade names | Popeyes brand
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	1,355	1,355
Trade names | Firehouse Subs brand
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	816	816
Franchise agreements
Finite-Lived Intangible Assets [Line Items]
Gross	722	720
Accumulated Amortization	(322)	(313)
Net	400	407
Favorable leases
Finite-Lived Intangible Assets [Line Items]
Gross	88	90
Accumulated Amortization	(57)	(57)
Net	$ 31	$ 33

Intangible Assets, net and Go_4

Intangible Assets, net and Goodwill - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense on intangible assets	$ 9	$ 10

Equity Method Investments - Add

Equity Method Investments - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
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	45		42
Carrols Restaurant Group, Inc.
Schedule of Equity Method Investments [Line Items]
Quoted market price	$ 21
BK Brasil
Schedule of Equity Method Investments [Line Items]
Joint-venture interest	9.40%
Quoted market price	$ 24
TH International Limited
Schedule of Equity Method Investments [Line Items]
Joint-venture interest	4.20%
Quoted market price	$ 28
Wendy's Company TIMWEN Partnership | Tim Hortons brand
Schedule of Equity Method Investments [Line Items]
Cash distributions	2	$ 3
Rent expense	$ 4	$ 4
United States | Carrols Restaurant Group, Inc.
Schedule of Equity Method Investments [Line Items]
Joint-venture interest	15.10%
Canada | Wendy's Company TIMWEN Partnership
Schedule of Equity Method Investments [Line Items]
Joint-venture interest	50%
Other assets
Schedule of Equity Method Investments [Line Items]
Investment in subsidiaries	$ 152		$ 167

Equity Method Investments - Sum

Equity Method Investments - Summary of Franchise and Property Revenues (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues from affiliates:
Property revenues	$ 196	$ 188
Total revenues	1,590	1,451
Affiliates
Revenues from affiliates:
Total revenues	128	119
Royalties
Revenues from affiliates:
Revenues	442	403
Royalties | Affiliates
Revenues from affiliates:
Revenues	92	88
Advertising revenues and other services
Revenues from affiliates:
Revenues	254	227
Total revenues	254	227
Advertising revenues and other services | Affiliates
Revenues from affiliates:
Revenues	18	16
Property revenues | Affiliates
Revenues from affiliates:
Property revenues	9	7
Franchise fees and other revenue
Revenues from affiliates:
Revenues	30	24
Franchise fees and other revenue | Affiliates
Revenues from affiliates:
Revenues	5	4
Sales | Affiliates
Revenues from affiliates:
Revenues	$ 4	$ 4

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, 2023	Dec. 31, 2022
Current:
Distribution payable	$ 249	$ 243
Interest payable	99	89
Accrued compensation and benefits	55	124
Taxes payable	153	190
Deferred income	55	43
Accrued advertising expenses	43	37
Restructuring and other provisions	29	29
Current portion of operating lease liabilities	138	137
Other	80	109
Other accrued liabilities	901	1,001
Noncurrent:
Taxes payable	140	139
Contract liabilities	542	540
Derivatives liabilities	44	34
Unfavorable leases	48	50
Accrued pension	41	40
Deferred income	54	44
Other	26	25
Other liabilities, net	$ 895	$ 872
Operating lease, liability, current, statement of financial position [Extensible Enumeration]	Other accrued liabilities	Other accrued liabilities

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
TH Facility and other	$ 154	$ 155
Less: unamortized deferred financing costs and deferred issue discount	(105)	(111)
Total debt, net	12,917	12,934
Less: current maturities of debt	(96)	(95)
Total long-term debt	12,821	12,839
Term Loan B
Debt Instrument [Line Items]
Term loan facility	5,176	5,190
Term Loan A
Debt Instrument [Line Items]
Term loan facility	$ 1,242	1,250
3.875% First Lien Senior Notes due 2028 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	3.875%
Senior notes	$ 1,550	1,550
3.50% First Lien Senior Notes due 2029 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	3.50%
Senior notes	$ 750	750
5.75% First Lien Senior Notes due 2025
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.75%
5.75% First Lien Senior Notes due 2025 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.75%
Senior notes	$ 500	500
4.375% Second Lien Senior Notes due 2028
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.375%
4.375% Second Lien Senior Notes due 2028 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.375%
Senior notes	$ 750	750
4.00% Second Lien Senior Notes due 2030
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4%
4.00% Second Lien Senior Notes due 2030 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4%
Senior notes	$ 2,900	$ 2,900

Long-Term Debt - Revolving Cred

Long-Term Debt - Revolving Credit Facility (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Line of Credit Facility [Line Items]
Amount outstanding under credit facility	$ 12,917,000,000	$ 12,934,000,000
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 (D

Long-Term Debt - TH facility (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) subsidiary	Mar. 31, 2023 CAD ($) subsidiary	Dec. 31, 2022 USD ($)
Line of Credit Facility [Line Items]
Amount outstanding under credit facility	$ 12,917		$ 12,934
TH Facility
Line of Credit Facility [Line Items]
Aggregate principal amount outstanding		$ 225,000,000
Amount outstanding under credit facility		$ 200,000,000
Interest rate	6.33%	6.33%
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%
TH Facility | Line of Credit
Line of Credit Facility [Line Items]
Number of subsidiaries | subsidiary	1	1
Number of guaranteed subsidiaries | subsidiary	4	4

Long-Term Debt - RE Facility (D

Long-Term Debt - RE Facility (Details)	3 Months Ended
	Mar. 31, 2023 USD ($) subsidiary	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Amount outstanding under credit facility	$ 12,917,000,000	$ 12,934,000,000
R E Facility | Line of Credit
Debt Instrument [Line Items]
Number of subsidiaries | subsidiary	1
Aggregate principal amount outstanding	$ 50,000,000
Amount outstanding under credit facility	$ 2,000,000
Interest rate	6.42%
R E Facility | Line of Credit | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
R E Facility | Line of Credit | SOFR
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Interest rate, base rate floor (as a percent)	0%

Long-Term Debt - Schedule of Fa

Long-Term Debt - Schedule of Fair Value Measurement (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Fair value of our variable term debt and senior notes	$ 12,120	$ 11,885
Principal carrying amount of our variable term debt and senior notes	$ 12,868	$ 12,890

Long-Term Debt - Schedule of In

Long-Term Debt - Schedule of Interest Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt	$ 138	$ 115
Finance lease obligations	4	5
Amortization of deferred financing costs and debt issuance discount	7	7
Interest income	(7)	0
Interest expense, net	142	127
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	$ 15	$ 11

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate	9.10%	16.60%

Equity - Additional Information

Equity - Additional Information (Details)	3 Months Ended
	Mar. 31, 2023 shares
Partnership exchangeable units
Stockholders Equity [Line Items]
BKW reorganization into Partnership (in shares)	2,214,072

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, 2023	Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss)
Beginning balances	$ 4,268	$ 3,853
Foreign currency translation adjustment	40	57
Net change in fair value of derivatives, net of tax	(74)
Amounts reclassified to earnings of cash flow hedges, net of tax	(13)	21
Ending balances	4,311	3,961
Derivatives
Accumulated Other Comprehensive Income (Loss)
Beginning balances	944
Net change in fair value of derivatives, net of tax	(74)
Amounts reclassified to earnings of cash flow hedges, net of tax	(13)
Ending balances	857
Pensions
Accumulated Other Comprehensive Income (Loss)
Beginning balances	(24)
Ending balances	(24)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss)
Beginning balances	(1,893)
Foreign currency translation adjustment	40
Ending balances	(1,853)
Accumulated  Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)
Beginning balances	(973)	(1,024)
Ending balances	$ (1,020)	$ (819)

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Details) € in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2023 EUR (€)	Dec. 31, 2021 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Interest Rate Swaps - Period One
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 3,500,000,000
Interest Rate Swaps - Period Two
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	500,000,000
Interest Rate Swap | Interest expense, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Loss reclassified from OACI to Income	84,000,000
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	5,000,000,000		$ 150,000,000	$ 500,000,000	$ 400,000,000
Cross Currency Interest Rate Contract | Fixed Income Interest Rate | Hedge Funds
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	1,200,000,000	€ 1,108
Foreign Exchange Contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 205,000,000

Derivative Instruments - Quanti

Derivative Instruments - Quantitative Disclosures of Derivative Instruments Including Estimated Fair Values (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
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)	$ (57)	$ 223
Interest rate swaps | Interest expense, net | Derivatives designated as cash flow hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain or (Loss) Reclassified from AOCI into Earnings	15	(29)
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)	(2)
Forward-currency contracts | Cost of sales | Derivatives designated as cash flow hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain or (Loss) Reclassified from AOCI into Earnings	3	1
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)	(35)	(60)
Cross-currency rate swaps | Interest expense, net | 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)	$ 15	$ 11

Derivative Instruments - Summar

Derivative Instruments - Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives assets	$ 255	$ 365
Derivatives liabilities	45	34
Derivatives designated as cash flow hedges | Interest rate | Other assets, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives assets	195	280
Derivatives designated as cash flow hedges | Foreign currency | Prepaids and other current assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives assets	4	7
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	1	0
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	56	78
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	$ 44	$ 34

Other Operating Expenses (Inc_3

Other Operating Expenses (Income), net - Other Operating Expenses (Income), Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Other Income and Expenses [Abstract]
Net losses (gains) on disposal of assets, restaurant closures, and refranchisings	$ (2)	$ 2
Litigation settlements (gains) and reserves, net	1	1
Net losses (gains) on foreign exchange	8	(21)
Other, net	10	2
Other operating expenses (income), net	$ 17	$ (16)

Segment Reporting - Additional

Segment Reporting - Additional Information (Details)	3 Months Ended
	Mar. 31, 2023 brand
Segment Reporting [Abstract]
Number of brands	4

Segment Reporting - Revenues by

Segment Reporting - Revenues by Operating Segment and Country (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue, Major Customer [Line Items]
Total revenues	$ 1,590	$ 1,451
Canada
Revenue, Major Customer [Line Items]
Total revenues	$ 809	$ 747
Canada | Revenue Benchmark | Geographic Concentration Risk
Revenue, Major Customer [Line Items]
Concentration risk, percentage	10%	10%
United States
Revenue, Major Customer [Line Items]
Total revenues	$ 573	$ 521
United States | Revenue Benchmark | Geographic Concentration Risk
Revenue, Major Customer [Line Items]
Concentration risk, percentage	10%	10%
Other
Revenue, Major Customer [Line Items]
Total revenues	$ 208	$ 183
TH
Revenue, Major Customer [Line Items]
Total revenues	900	829
BK
Revenue, Major Customer [Line Items]
Total revenues	484	443
PLK
Revenue, Major Customer [Line Items]
Total revenues	168	148
FHS
Revenue, Major Customer [Line Items]
Total revenues	$ 38	$ 31

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Segment Income to Net Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting, Revenue Reconciling Item [Line Items]
Adjusted EBITDA	$ 588	$ 530
Impact of equity method investments	7	13
Other operating expenses (income), net	17	(16)
EBITDA	493	499
Depreciation and amortization	46	49
Income from operations	447	450
Interest expense, net	142	127
Income tax expense	28	53
Net income	277	270
Unallocated Management G&A
Segment Reporting, Revenue Reconciling Item [Line Items]
Share-based compensation and non-cash incentive compensation expense	45	27
Corporate restructuring and tax advisory fees	5	3
Impact of equity method investments	9	16
Other operating expenses (income), net	17	(16)
Unallocated Management G&A | Firehouse Subs brand
Segment Reporting, Revenue Reconciling Item [Line Items]
FHS Transaction costs	19	1
TH | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Adjusted EBITDA	251	231
BK | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Adjusted EBITDA	256	229
PLK | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Adjusted EBITDA	66	56
FHS | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Adjusted EBITDA	$ 15	$ 14

Supplemental Financial Inform_3

Supplemental Financial Information - Narrative (Details)	Mar. 31, 2023
3.875% First Lien Senior Notes due 2028 | Senior Notes
Stated interest rate (as a percent)	3.875%
3.50% First Lien Senior Notes due 2029
Stated interest rate (as a percent)	3.50%
5.75% First Lien Senior Notes due 2025
Stated interest rate (as a percent)	5.75%
5.75% First Lien Senior Notes due 2025 | Senior Notes
Stated interest rate (as a percent)	5.75%
4.375% Second Lien Senior Notes due 2028
Stated interest rate (as a percent)	4.375%
4.375% Second Lien Senior Notes due 2028 | Senior Notes
Stated interest rate (as a percent)	4.375%
4.00% Second Lien Senior Notes due 2030
Stated interest rate (as a percent)	4%
4.00% Second Lien Senior Notes due 2030 | Senior Notes
Stated interest rate (as a percent)	4%

Supplemental Financial Inform_4

Supplemental Financial Information - Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 1,033	$ 1,178	$ 895	$ 1,087
Accounts and notes receivable, net	612	614
Inventories, net	145	133
Prepaids and other current assets	103	123
Total current assets	1,893	2,048
Property and equipment, net	1,943	1,950
Operating lease assets, net	1,075	1,082
Intangible assets, net	11,005	10,991
Goodwill	5,700	5,688
Net investment in property leased to franchisees	83	82
Intercompany receivable	0	0
Investment in subsidiaries	0	0
Other assets, net	827	905
Total assets	22,526	22,746
Current liabilities:
Accounts and drafts payable	679	758
Other accrued liabilities	901	1,001
Gift card liability	174	230
Current portion of long-term debt and finance leases	128	127
Total current liabilities	1,882	2,116
Long-term debt, net of current portion	12,821	12,839
Finance leases, net of current portion	310	311
Operating lease liabilities, net of current portion	1,019	1,027
Other liabilities, net	895	872
Payables to affiliates	0	0
Deferred income taxes, net	1,288	1,313
Total liabilities	18,215	18,478
Partners’ capital:
Common shares	0	0
Retained earnings	0	0
Accumulated other comprehensive income (loss)	(1,020)	(973)
Total Partners’ capital	4,309	4,266
Noncontrolling interests	2	2
Total equity	4,311	4,268	3,961	3,853
Total liabilities and equity	22,526	22,746
Class A common units
Partners’ capital:
Class A common units	8,951	8,735
Partnership exchangeable units
Partners’ capital:
Partnership exchangeable units	(3,622)	(3,496)
Eliminations
Current assets:
Cash and cash equivalents	0	0	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	(249)	(243)
Investment in subsidiaries	(4,311)	(4,268)
Other assets, net	0	0
Total assets	(4,560)	(4,511)
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	(249)	(243)
Deferred income taxes, net	0	0
Total liabilities	(249)	(243)
Partners’ capital:
Common shares	(2,556)	(2,494)
Retained earnings	(2,773)	(2,745)
Accumulated other comprehensive income (loss)	1,020	973
Total Partners’ capital	(4,309)	(4,266)
Noncontrolling interests	(2)	(2)
Total equity	(4,311)	(4,268)
Total liabilities and equity	(4,560)	(4,511)
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	1,033	1,178	895	1,087
Accounts and notes receivable, net	612	614
Inventories, net	145	133
Prepaids and other current assets	103	123
Total current assets	1,893	2,048
Property and equipment, net	1,943	1,950
Operating lease assets, net	1,075	1,082
Intangible assets, net	11,005	10,991
Goodwill	5,700	5,688
Net investment in property leased to franchisees	83	82
Intercompany receivable	0	0
Investment in subsidiaries	0	0
Other assets, net	827	905
Total assets	22,526	22,746
Current liabilities:
Accounts and drafts payable	679	758
Other accrued liabilities	652	758
Gift card liability	174	230
Current portion of long-term debt and finance leases	128	127
Total current liabilities	1,633	1,873
Long-term debt, net of current portion	12,821	12,839
Finance leases, net of current portion	310	311
Operating lease liabilities, net of current portion	1,019	1,027
Other liabilities, net	895	872
Payables to affiliates	249	243
Deferred income taxes, net	1,288	1,313
Total liabilities	18,215	18,478
Partners’ capital:
Common shares	2,556	2,494
Retained earnings	2,773	2,745
Accumulated other comprehensive income (loss)	(1,020)	(973)
Total Partners’ capital	4,309	4,266
Noncontrolling interests	2	2
Total equity	4,311	4,268
Total liabilities and equity	22,526	22,746
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	$ 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	249	243
Investment in subsidiaries	4,311	4,268
Other assets, net	0	0
Total assets	4,560	4,511
Current liabilities:
Accounts and drafts payable	0	0
Other accrued liabilities	249	243
Gift card liability	0	0
Current portion of long-term debt and finance leases	0	0
Total current liabilities	249	243
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	249	243
Partners’ capital:
Common shares	0	0
Retained earnings	0	0
Accumulated other comprehensive income (loss)	(1,020)	(973)
Total Partners’ capital	4,309	4,266
Noncontrolling interests	2	2
Total equity	4,311	4,268
Total liabilities and equity	4,560	4,511
RBILP | Reportable Legal Entities | Class A common units
Partners’ capital:
Class A common units	8,951	8,735
RBILP | Reportable Legal Entities | Partnership exchangeable units
Partners’ capital:
Partnership exchangeable units	$ (3,622)	$ (3,496)

Supplemental Financial Inform_5

Supplemental Financial Information - Condensed Consolidating Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues:
Total revenues	$ 1,590	$ 1,451
Operating costs and expenses:
Cost of sales	550	494
Franchise and property expenses	123	130
Advertising expenses and other services	271	247
General and administrative expenses	175	133
(Income) loss from equity method investments	7	13
Other operating expenses (income), net	17	(16)
Total operating costs and expenses	1,143	1,001
Income from operations	447	450
Interest expense, net	142	127
Income before income taxes	305	323
Income tax expense	28	53
Net income	277	270
Equity in earnings of consolidated subsidiaries	0	0
Net income	277	270
Net income (loss) attributable to noncontrolling interests	1	1
Net income attributable to common unitholders	276	269
Comprehensive income (loss)	230	475
Eliminations
Revenues:
Total revenues	0	0
Operating costs and expenses:
Cost of sales	0	0
Franchise and property expenses	0	0
Advertising expenses and other services	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	(277)	(270)
Net income	(277)	(270)
Net income (loss) attributable to noncontrolling interests	(1)	(1)
Net income attributable to common unitholders	(276)	(269)
Comprehensive income (loss)	(230)	(475)
Consolidated Borrowers | Reportable Legal Entities
Revenues:
Total revenues	1,590	1,451
Operating costs and expenses:
Cost of sales	550	494
Franchise and property expenses	123	130
Advertising expenses and other services	271	247
General and administrative expenses	175	133
(Income) loss from equity method investments	7	13
Other operating expenses (income), net	17	(16)
Total operating costs and expenses	1,143	1,001
Income from operations	447	450
Interest expense, net	142	127
Income before income taxes	305	323
Income tax expense	28	53
Net income	277	270
Equity in earnings of consolidated subsidiaries	0	0
Net income	277	270
Net income (loss) attributable to noncontrolling interests	1	1
Net income attributable to common unitholders	276	269
Comprehensive income (loss)	230	475
RBILP | Reportable Legal Entities
Revenues:
Total revenues	0	0
Operating costs and expenses:
Cost of sales	0	0
Franchise and property expenses	0	0
Advertising expenses and other services	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	277	270
Net income	277	270
Net income (loss) attributable to noncontrolling interests	1	1
Net income attributable to common unitholders	276	269
Comprehensive income (loss)	230	475
Sales
Revenues:
Total revenues	668	609
Sales | Eliminations
Revenues:
Total revenues	0	0
Sales | Consolidated Borrowers | Reportable Legal Entities
Revenues:
Total revenues	668	609
Sales | RBILP | Reportable Legal Entities
Revenues:
Total revenues	0	0
Franchise and property revenues
Revenues:
Total revenues	668	615
Franchise and property revenues | Eliminations
Revenues:
Total revenues	0	0
Franchise and property revenues | Consolidated Borrowers | Reportable Legal Entities
Revenues:
Total revenues	668	615
Franchise and property revenues | RBILP | Reportable Legal Entities
Revenues:
Total revenues	0	0
Advertising revenues and other services
Revenues:
Total revenues	254	227
Advertising revenues and other services | Eliminations
Revenues:
Total revenues	0	0
Advertising revenues and other services | Consolidated Borrowers | Reportable Legal Entities
Revenues:
Total revenues	254	227
Advertising revenues and other services | 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, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net income	$ 277	$ 270
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in loss (earnings) of consolidated subsidiaries	0	0
Depreciation and amortization	46	49
Amortization of deferred financing costs and debt issuance discount	7	7
(Income) loss from equity method investments	7	13
(Gain) loss on remeasurement of foreign denominated transactions	8	(21)
Net (gains) losses on derivatives	(34)	18
Share-based compensation and non-cash incentive compensation expense	45	27
Deferred income taxes	(28)	(16)
Other	1	9
Changes in current assets and liabilities, excluding acquisitions and dispositions:
Accounts and notes receivable	(8)	(46)
Inventories and prepaids and other current assets	(20)	(22)
Accounts and drafts payable	(81)	18
Other accrued liabilities and gift card liability	(123)	(91)
Tenant inducements paid to franchisees	(6)	(2)
Other long-term assets and liabilities	4	21
Net cash provided by operating activities	95	234
Cash flows from investing activities:
Payments for property and equipment	(18)	(10)
Net proceeds from disposal of assets, restaurant closures, and refranchisings	4	4
Settlement/sale of derivatives, net	14	3
Other investing activities, net	0	4
Net cash (used for) provided by investing activities	0	1
Cash flows from financing activities:
Proceeds from long-term debt	0	1
Repayments of long-term debt and finance leases	(32)	(21)
Distributions on Class A common and Partnership exchangeable units	(243)	(241)
Distribution to RBI for repurchase of RBI common shares	0	(161)
Capital contribution from RBI	6	3
Distributions from subsidiaries	0	0
(Payments) proceeds from derivatives	29
(Payments) proceeds from derivatives		(6)
Other financing activities, net	0	(1)
Net cash (used for) provided by financing activities	(240)	(426)
Effect of exchange rates on cash and cash equivalents	0	(1)
Increase (decrease) in cash and cash equivalents	(145)	(192)
Cash and cash equivalents at beginning of period	1,178	1,087
Cash and cash equivalents at end of period	1,033	895
Eliminations
Cash flows from operating activities:
Net income	(277)	(270)
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in loss (earnings) of consolidated subsidiaries	277	270
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 and non-cash incentive 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
Inventories and prepaids and other current assets	0	0
Accounts and drafts payable	0	0
Other accrued liabilities and gift card liability	0	0
Tenant inducements paid to franchisees	0	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 long-term debt		0
Repayments of long-term debt and finance leases	0	0
Distributions on Class A common and Partnership exchangeable units	0	0
Distribution to RBI for repurchase of RBI common shares		0
Capital contribution from RBI	0	0
Distributions from subsidiaries	0	0
(Payments) proceeds from derivatives	0
(Payments) proceeds from derivatives		0
Other financing activities, net		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	277	270
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in loss (earnings) of consolidated subsidiaries	0	0
Depreciation and amortization	46	49
Amortization of deferred financing costs and debt issuance discount	7	7
(Income) loss from equity method investments	7	13
(Gain) loss on remeasurement of foreign denominated transactions	8	(21)
Net (gains) losses on derivatives	(34)	18
Share-based compensation and non-cash incentive compensation expense	45	27
Deferred income taxes	(28)	(16)
Other	1	9
Changes in current assets and liabilities, excluding acquisitions and dispositions:
Accounts and notes receivable	(8)	(46)
Inventories and prepaids and other current assets	(20)	(22)
Accounts and drafts payable	(81)	18
Other accrued liabilities and gift card liability	(123)	(91)
Tenant inducements paid to franchisees	(6)	(2)
Other long-term assets and liabilities	4	21
Net cash provided by operating activities	95	234
Cash flows from investing activities:
Payments for property and equipment	(18)	(10)
Net proceeds from disposal of assets, restaurant closures, and refranchisings	4	4
Settlement/sale of derivatives, net	14	3
Other investing activities, net		4
Net cash (used for) provided by investing activities	0	1
Cash flows from financing activities:
Proceeds from long-term debt		1
Repayments of long-term debt and finance leases	(32)	(21)
Distributions on Class A common and Partnership exchangeable units	0	0
Distribution to RBI for repurchase of RBI common shares		0
Capital contribution from RBI	6	3
Distributions from subsidiaries	(243)	(402)
(Payments) proceeds from derivatives	29
(Payments) proceeds from derivatives		(6)
Other financing activities, net		(1)
Net cash (used for) provided by financing activities	(240)	(426)
Effect of exchange rates on cash and cash equivalents	0	(1)
Increase (decrease) in cash and cash equivalents	(145)	(192)
Cash and cash equivalents at beginning of period	1,178	1,087
Cash and cash equivalents at end of period	1,033	895
RBILP | Reportable Legal Entities
Cash flows from operating activities:
Net income	277	270
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in loss (earnings) of consolidated subsidiaries	(277)	(270)
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 and non-cash incentive 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
Inventories and prepaids and other current assets	0	0
Accounts and drafts payable	0	0
Other accrued liabilities and gift card liability	0	0
Tenant inducements paid to franchisees	0	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 long-term debt		0
Repayments of long-term debt and finance leases	0	0
Distributions on Class A common and Partnership exchangeable units	(243)	(241)
Distribution to RBI for repurchase of RBI common shares		(161)
Capital contribution from RBI	0	0
Distributions from subsidiaries	243	402
(Payments) proceeds from derivatives	0
(Payments) proceeds from derivatives		0
Other financing activities, net		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			1 Months Ended	3 Months Ended
	Jul. 06, 2023	Apr. 05, 2023	May 02, 2023	Mar. 31, 2023	Mar. 31, 2022
Forecast
Subsequent Event [Line Items]
Common stock dividends paid (in usd per share)	$ 0.55
Partnership exchangeable units
Subsequent Event [Line Items]
Cash dividend declared (in usd per share)				$ 0.55	$ 0.54
Subsequent Event
Subsequent Event [Line Items]
Common stock dividends paid (in usd per share)		$ 0.55
Cash dividend declared (in usd per share)			$ 0.55
Subsequent Event | Partnership exchangeable units | Restaurant Brands International Limited Partnership
Subsequent Event [Line Items]
Cash dividend paid per exchangeable unit (in usd per share)		$ 0.55	$ 0.55