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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
REVENUES        
Revenues $ 3,946 $ 2,254 $ 9,411 $ 8,399
OPERATING COSTS AND EXPENSES        
Depreciation, amortization, and other 64 53 166 275
General, administrative, and other 212 131 610 579
Restructuring and merger-related charges 4 1 8 5
Costs and expenses 3,401 2,002 8,296 8,187
OPERATING INCOME 545 252 1,115 212
Gains and other income, net 0 2 6 3
Loss on extinguishment of debt (164) 0 (164) 0
Interest expense (107) (113) (323) (333)
Interest income 8 6 22 20
Equity in losses (4) (20) (24) (54)
INCOME (LOSS) BEFORE INCOME TAXES 278 127 632 (152)
(Provision) benefit for income taxes (58) (27) (1) 49
Net income (loss) $ 220 $ 100 $ 631 $ (103)
EARNINGS (LOSS) PER SHARE        
Earnings (loss) per share - basic (in USD per share) $ 0.67 $ 0.31 $ 1.93 $ (0.32)
Earnings (loss) per share - diluted (in USD per share) $ 0.67 $ 0.31 $ 1.92 $ (0.32)
Base management fees        
REVENUES        
Gross revenues $ 190 $ 87 $ 452 $ 341
Franchise fees        
REVENUES        
Gross revenues 533 279 1,270 876
Incentive management fees        
REVENUES        
Gross revenues 53 31 141 43
Fee revenues        
REVENUES        
Gross revenues 776 397 1,863 1,260
Contract investment amortization (21) (48) (56) (94)
Revenues 755 349 1,807 1,166
Owned, leased, and other        
REVENUES        
Revenues 241 116 536 445
OPERATING COSTS AND EXPENSES        
Operating costs 204 134 507 527
Reimbursements        
REVENUES        
Revenues 2,950 1,789 7,068 6,788
OPERATING COSTS AND EXPENSES        
Operating costs $ 2,917 $ 1,683 $ 7,005 $ 6,801