XML 17 R2.htm IDEA: XBRL DOCUMENT v3.20.4
CONSOLIDATED STATEMENTS OF (LOSS) INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
REVENUES      
Total revenue $ 10,571 $ 20,972 $ 20,758
OPERATING COSTS AND EXPENSES      
Depreciation, amortization, and other 346 341 226
General, administrative, and other 762 938 927
Restructuring and merger-related charges 267 138 155
Costs and Expenses, Total 10,487 19,172 18,392
OPERATING INCOME 84 1,800 2,366
Gains and other income, net [1] 9 154 194
Interest expense [1] (445) (394) (340)
Interest income [1] 27 26 22
Equity in (losses) earnings [1] (141) 13 103
(LOSS) INCOME BEFORE INCOME TAXES (466) 1,599 2,345
Benefit (provision) for income taxes 199 (326) (438)
NET (LOSS) INCOME $ (267) $ 1,273 $ 1,907
(LOSS) EARNINGS PER SHARE      
(Loss) earnings per share - basic (in USD per share) $ (0.82) $ 3.83 $ 5.45
(Loss) earnings per share - diluted (in USD per share) $ (0.82) $ 3.80 $ 5.38
Base management fees      
REVENUES      
Gross fee revenues $ 443 $ 1,180 $ 1,140
Franchise fees      
REVENUES      
Gross fee revenues 1,153 2,006 1,849
Incentive management fees      
REVENUES      
Gross fee revenues 87 637 649
Net fee revenues      
REVENUES      
Gross fee revenues 1,683 3,823 3,638
Contract investment amortization (132) (62) (58)
Total revenue 1,551 3,761 3,580
Owned, leased, and other      
REVENUES      
Total revenue 568 1,612 1,635
OPERATING COSTS AND EXPENSES      
Cost of revenues 677 1,316 1,306
Reimbursements      
REVENUES      
Total revenue [1] 8,452 15,599 15,543
OPERATING COSTS AND EXPENSES      
Cost of revenues [1] $ 8,435 $ 16,439 $ 15,778
[1] See Note 16 for disclosure of related party amounts.