v3.26.1
Condensed Consolidated Balance Sheet - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Current assets    
Cash and equivalents $ 1,170 $ 774
Accounts and notes receivable 2,432 2,466
Inventories, at cost, not in excess of market 61 61
Prepaid expenses and other current assets 1,046 863
Total current assets 4,709 4,163
Other assets    
Investments in and advances to affiliates 2,865 2,820
Goodwill 3,349 3,354
Miscellaneous 6,357 6,331
Total other assets 12,571 12,505
Lease right-of-use asset, net 14,513 14,606
Property and equipment    
Property and equipment, at cost 49,477 49,290
Accumulated depreciation and amortization (21,232) (21,049)
Net property and equipment 28,245 28,241
Total assets 60,037 59,515
Current liabilities    
Accounts payable 1,091 1,149
Lease liability 707 694
Income taxes 391 250
Other taxes 253 247
Accrued interest 448 533
Accrued payroll and other liabilities 1,257 1,488
Total current liabilities 4,146 4,361
Long-term debt 40,105 39,973
Long-term lease liability 14,069 14,147
Long-term income taxes 151 139
Deferred revenues - initial franchise fees 946 945
Other long-term liabilities 686 704
Deferred income taxes 1,220 1,038
Shareholders' equity (deficit)    
Preferred stock, no par value; authorized—165.0 million shares; issued—none 0 0
Common stock, $0.01 par value; authorized—3.5 billion shares; issued—1,660.6 million shares 17 17
Additional paid-in capital 9,792 9,641
Retained earnings 70,942 70,282
Accumulated other comprehensive income (loss) (2,363) (2,414)
Common stock in treasury, at cost; 950.2 and 950.0 million shares (79,673) (79,316)
Total shareholders' equity (deficit) (1,286) (1,791)
Total liabilities and shareholders' equity (deficit) $ 60,037 $ 59,515