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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
REVENUES        
Revenues $ 3,149 $ 1,464 $ 5,465 $ 6,145
OPERATING COSTS AND EXPENSES        
Depreciation, amortization, and other 50 72 102 222
General, administrative, and other 187 178 398 448
Restructuring and merger-related charges 3 6 4 4
Costs and expenses 2,663 1,618 4,895 6,185
OPERATING INCOME (LOSS) 486 (154) 570 (40)
Gains and other income, net 5 5 6 1
Interest expense (109) (127) (216) (220)
Interest income 7 8 14 14
Equity in losses (8) (30) (20) (34)
INCOME (LOSS) BEFORE INCOME TAXES 381 (298) 354 (279)
Benefit for income taxes 41 64 57 76
Net income (loss) $ 422 $ (234) $ 411 $ (203)
EARNINGS (LOSS) PER SHARE        
Earnings (loss) per share - basic (in USD per share) $ 1.29 $ (0.72) $ 1.26 $ (0.63)
Earnings (loss) per share - diluted (in USD per share) $ 1.28 $ (0.72) $ 1.25 $ (0.63)
Base management fees        
REVENUES        
Gross revenues $ 156 $ 40 $ 262 $ 254
Franchise fees        
REVENUES        
Gross revenues 431 182 737 597
Incentive management fees        
REVENUES        
Gross revenues 55 12 88 12
Fee revenues        
REVENUES        
Gross revenues 642 234 1,087 863
Contract investment amortization (18) (21) (35) (46)
Revenues 624 213 1,052 817
Owned, leased, and other        
REVENUES        
Revenues 187 49 295 329
OPERATING COSTS AND EXPENSES        
Operating costs 168 121 303 393
Reimbursements        
REVENUES        
Revenues 2,338 1,202 4,118 4,999
OPERATING COSTS AND EXPENSES        
Operating costs $ 2,255 $ 1,241 $ 4,088 $ 5,118