XML 21 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
REVENUES                      
Total revenue $ 5,289 $ 5,051 $ 5,409 $ 5,009 $ 5,251 $ 5,078 $ 5,211 $ 4,912 $ 20,758 $ 20,452 $ 15,407
OPERATING COSTS AND EXPENSES                      
Depreciation, amortization, and other   52 58 54         226 [1] 229 [1] 119 [1]
General, administrative, and other   221 217 247         927 [1] 921 [1] 743 [1]
Merger-related costs and charges   12 18 34         155 159 386
Costs and Expenses, Total   4,455 4,591 4,479         18,392 17,948 13,983
OPERATING INCOME 422 596 818 530 424 790 744 546 2,366 2,504 1,424
Gains and other income, net   18 114 59         194 [1] 688 [1] 5 [1]
Interest expense   (86) (85) (75)         (340) (288) (234)
Interest income   5 6 5         22 [1] 38 [1] 35 [1]
Equity in earnings   61 21 13         103 [1] 40 [1] 9 [1]
INCOME BEFORE INCOME TAXES   594 874 532         2,345 2,982 1,239
Provision for income taxes   (91) (207) (112)         (438) (1,523) (431)
NET INCOME $ 317 $ 503 $ 667 $ 420 $ 114 $ 485 $ 489 $ 371 $ 1,907 $ 1,459 $ 808
EARNINGS PER SHARE                      
Earnings per share - basic (in USD per share) $ 0.93 $ 1.45 $ 1.89 $ 1.17 $ 0.31 $ 1.30 $ 1.29 $ 0.96 $ 5.45 $ 3.89 $ 2.78
Earnings per share - diluted (in USD per share) $ 0.92 $ 1.43 $ 1.87 $ 1.16 $ 0.31 $ 1.29 $ 1.28 $ 0.95 $ 5.38 $ 3.84 $ 2.73
Base management fees                      
REVENUES                      
Gross fee revenues   $ 279 $ 300 $ 273         $ 1,140 [1] $ 1,102 [1] $ 806 [1]
Franchise fees                      
REVENUES                      
Gross fee revenues   502 475 417         1,849 1,586 1,157
Incentive management fees                      
REVENUES                      
Gross fee revenues   151 176 155         649 [1] 607 [1] 425 [1]
Net fee revenues                      
REVENUES                      
Gross fee revenues   932 951 845         3,638 3,295 2,388
Contract investment amortization   (13) (13) (18)         (58) [1] (50) [1] (40) [1]
Total revenue   919 938 827         3,580 3,245 2,348
Owned, leased, and other                      
REVENUES                      
Total revenue   397 423 406         1,635 [1] 1,752 [1] 1,125 [1]
OPERATING COSTS AND EXPENSES                      
Cost of revenues   315 334 336         1,306 1,411 901
Reimbursements                      
REVENUES                      
Total revenue   3,735 4,048 3,776         15,543 [1] 15,455 [1] 11,934 [1]
OPERATING COSTS AND EXPENSES                      
Cost of revenues   $ 3,855 $ 3,964 $ 3,808         $ 15,778 [1] $ 15,228 [1] $ 11,834 [1]
[1] See Footnote 18. Related Party Transactions for disclosure of related party amounts.