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Property and Equipment | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
Property and Equipment |
Property and Equipment
Net property and equipment consisted of:
In millions |  | 'December 31, 2023 |  | 2022
Land |  | $ | 7,081.3 |  |  | $ | 6,686.3 |
Buildings and improvements on owned land |  | 20,059.3 |  |  | 18,934.2 |
Buildings and improvements on leased land |  | 13,322.3 |  |  | 12,492.0 |
Equipment, signs and seating |  | 2,692.7 |  |  | 2,498.6 |
Other |  | 414.4 |  |  | 426.5 |
Property and equipment, at cost |  | 43,570.0 |  |  | 41,037.6 |
Accumulated depreciation and amortization |  | (18,662.4) |  |  | (17,264.0) |
Net property and equipment |  | $ | 24,907.6 |  |  | $ | 23,773.6 |
Depreciation and amortization expense for property and equipment was (in millions): 2023–$1,501.5; 2022–$1,454.0; 2021–$1,530.7. The increase in Net property and equipment was primarily driven by higher capital expenditures as a result of the addition of Restaurant Development to the Company’s growth pillars under its Accelerating the Arches strategy.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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