Intangible Assets, net and Goodwill (Tables)

12 Months Ended

Dec. 31, 2025

Intangible assets, net and goodwill consist of the following (in millions):


	As of December 31,
	2025						2024
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Identifiable assets subject to amortization:
Franchise agreements	$	732	$	(413)	$	319	$	707	$	(369)	$	338
Reacquired franchise rights	368		(56)		312		374		(22)		352
Favorable leases	63		(46)		17		74		(53)		21
Subtotal	1,163		(515)		648		1,155		(444)		711
Indefinite-lived intangible assets:
Tim Hortons brand	$	6,224	$	—	$	6,224	$	5,972	$	—	$	5,972
Burger King brand	2,147		—		2,147		2,068		—		2,068
Popeyes brand	1,355		—		1,355		1,355		—		1,355
Firehouse Subs brand	816		—		816		816		—		816
Subtotal	10,542		—		10,542		10,211		—		10,211
Intangible assets, net					$	11,190					$	10,922

Goodwill
TH segment	$	3,995					$	3,841
BK segment	358						240
PLK segment	844						844
FHS segment	194						193
INTL segment	545						377
RH segment	370						491
Total	$	6,306					$	5,986

As of December 31, 2025, the estimated future amortization expense on identifiable assets subject to amortization is as follows (in millions):


Twelve-months ended December 31,	Amount
2026	$	68
2027	68
2028	67
2029	65
2030	62
Thereafter	318
Total	$	648

Restaurant Brands International Inc. 10-K