Property and Equipment

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]


Property and Equipment

Net property and equipment consisted of:


In millions	'December 31, 2025		2024
Land	$	8,169	$	7,253
Buildings and improvements on owned land	22,202		20,487
Buildings and improvements on leased land	15,506		13,417
Equipment, signs and seating	2,954		2,586
Other	459		434
Property and equipment, at cost	49,290		44,177
Accumulated depreciation and amortization	(21,049)		(18,882)
Net property and equipment	$	28,241	$	25,295

Depreciation and amortization expense for property and equipment was $1.6 billion for the year ended December 31, 2025, and $1.5 billion for the years ended December 31, 2024 and 2023. The increase in Net property and equipment was primarily driven by higher capital expenditures as a result of the Company's Restaurant Development growth pillar under its Accelerating the Arches strategy.