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Acquisitions and Dispositions (Tables)
 6 Months Ended
Jun. 30, 2017
Business Combinations [Abstract]  
Schedule of Consideration Transferred
The following table presents the fair value of each class of consideration that we transferred in the Starwood Combination.
(in millions, except per share amounts)
 
Equivalent shares of Marriott common stock issued in exchange for Starwood outstanding shares
134.4

Marriott common stock price as of Merger Date
$
68.44

Fair value of Marriott common stock issued in exchange for Starwood outstanding shares
9,198

Cash consideration to Starwood shareholders, net of cash acquired of $1,116
2,412

Fair value of Marriott equity-based awards issued in exchange for vested Starwood equity-based awards
71

Total consideration transferred, net of cash acquired
$
11,681
Schedule of Fair Value of Assets Acquired and Liabilities Assumed
The following table presents our preliminary estimates of fair values of the assets that we acquired and the liabilities that we assumed on the Merger Date as previously reported at year-end 2016 and at the end of the 2017 second quarter.
($ in millions)
September 23, 2016
(as reported at
December 31, 2016)
 
Adjustments
 
September 23, 2016
(as adjusted at
June 30, 2017)
Working capital
$
(180
)
 
$
(27
)
 
$
(207
)
Property and equipment, including assets held for sale
1,999

 
(79
)
 
1,920

Identified intangible assets
7,957

 
(659
)
 
7,298

Equity and cost method investments
579

 
(6
)
 
573

Other noncurrent assets
224

 
(24
)
 
200

Deferred income taxes, net
(1,516
)
 
(8
)
 
(1,524
)
Guest loyalty program
(1,631
)
 
(7
)
 
(1,638
)
Debt
(1,871
)
 
—

 
(1,871
)
Other noncurrent liabilities
(654
)
 
(60
)
 
(714
)
Net assets acquired
4,907

 
(870
)
 
4,037

Goodwill (1)
6,774

 
870

 
7,644

 
$
11,681

 
$
—

 
$
11,681

(1) 
Goodwill primarily represents the value that we expect to obtain from synergies and growth opportunities from our combined operations, and it is not deductible for tax purposes. See Footnote 11 “Business Segments” for our preliminary assignment of goodwill by reportable segment.
Schedule of Fair Values of Identified Intangible Assets
The following table presents our preliminary estimates of the fair values of Starwood’s identified intangible assets and their related estimated useful lives.
 
 
Estimated Fair Value
($ in millions)
 
Estimated Useful
Life (in years)
Brands
 
$
5,712

 
indefinite
Management agreements and lease contract intangibles
 
754

 
10 - 25
Franchise agreements
 
755

 
10 - 80
Loyalty program marketing rights
 
77

 
30
 
 
$
7,298