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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 period14 
Impact of foreign currency translation2 
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 
202451 
202548 
202646 
202742 
Thereafter315 
Total$542 
Disaggregation of Total Revenues
The following tables disaggregate revenue by segment (in millions):
Three months ended March 31, 2023
THBKPLKFHSTotal
Sales$618 $19 $21 $10 $668 
Royalties77 273 75 17 442 
Property revenues137 56 3 — 196 
Franchise fees and other revenue6 15 3 6 30 
Advertising revenues and other services62 121 66 5 254 
Total revenues$900 $484 $168 $38 $1,590 
Three months ended March 31, 2022
THBKPLKFHSTotal
Sales$566 $16 $17 $10 $609 
Royalties69 251 67 16 403 
Property revenues130 55 3 — 188 
Franchise fees and other revenue7 12 1 4 24 
Advertising revenues and other services57 109 60 1 227 
Total revenues$829 $443 $148 $31 $1,451