CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Millions	3 Months Ended
	Mar. 31, 2018 USD ($)
OPERATING ACTIVITIES
Net income	$ 398
Adjustments to reconcile to cash provided by operating activities:
Depreciation, amortization, and other	73
Share-based compensation	42
Income taxes	16
Liability for guest loyalty programs	325
Contract acquisition costs	(29)
Merger-related charges	(16)
Working capital changes	(185)
(Gain) loss on asset dispositions	(60)
Other	111
Net cash provided by (used in) operating activities	675
INVESTING ACTIVITIES
Capital expenditures	(64)
Dispositions	108
Loan advances	(12)
Loan collections	5
Other	12
Net cash provided by investing activities	49
FINANCING ACTIVITIES
Commercial paper/Credit facility, net	627
Issuance of long-term debt	0
Repayment of long-term debt	(13)
Issuance of Class A Common Stock	4
Dividends paid	(118)
Purchase of treasury stock	(815)
Share-based compensation withholding taxes	(95)
Net cash provided by (used in) financing activities	(410)
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	314
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period	429
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period	743
Restricted cash	$ 42