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