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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
REVENUES        
Base management fees $ 191 $ 176 $ 356 $ 331
Franchise fees 221 194 425 357
Incentive management fees 81 82 170 153
Owned, leased, and other revenue 243 269 500 503
Cost reimbursements 2,953 2,763 5,751 5,433
Revenues 3,689 3,484 7,202 6,777
OPERATING COSTS AND EXPENSES        
Owned, leased, and other - direct 183 199 377 384
Reimbursed costs 2,953 2,763 5,751 5,433
Depreciation, amortization, and other 32 47 76 83
General, administrative, and other 152 159 297 307
Costs and Expenses, Total 3,320 3,168 6,501 6,207
OPERATING INCOME 369 316 701 570
Gains and other income, net 20 3 20 3
Interest expense (42) (30) (78) (60)
Interest income 6 4 14 9
Equity in earnings (losses) 2 (8) 5 (6)
INCOME BEFORE INCOME TAXES 355 285 662 516
Provision for income taxes (115) (93) (215) (152)
NET INCOME $ 240 $ 192 $ 447 $ 364
EARNINGS PER SHARE        
Earnings per share - basic (in USD per share) $ 0.88 $ 0.66 $ 1.63 $ 1.24
Earnings per share - diluted (in USD per share) 0.87 0.64 1.59 1.21
CASH DIVIDENDS DECLARED PER SHARE (in USD per share) $ 0.25 $ 0.20 $ 0.45 $ 0.37