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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
REVENUES        
Revenues $ 1,393 $ 1,381 $ 2,774 $ 2,455
EXPENSES        
Other property-level expenses 93 78 184 162
Depreciation and amortization 168 162 337 334
Corporate and other expenses 30 25 61 48
Gain on insurance and business interruption settlements (3) (7) (3) (7)
Total operating costs and expenses 1,144 1,054 2,277 2,006
OPERATING PROFIT 249 327 497 449
Interest income 20 6 34 7
Interest expense (45) (37) (94) (73)
Other gains 0 1 69 14
Equity in earnings of affiliates 4 2 11 4
INCOME BEFORE INCOME TAXES 228 299 517 401
Provision for income taxes (14) (39) (12) (23)
NET INCOME 214 260 505 378
Less: Net income attributable to non-controlling interests (4) (4) (8) (6)
NET INCOME ATTRIBUTABLE TO HOST HOTELS & RESORTS, INC. $ 210 $ 256 $ 497 $ 372
Basic earnings per common share $ 0.30 $ 0.36 $ 0.70 $ 0.52
Diluted earnings per common share $ 0.29 $ 0.36 $ 0.70 $ 0.52
HOST HOTELS & RESORTS L.P.        
REVENUES        
Revenues $ 1,393 $ 1,381 $ 2,774 $ 2,455
EXPENSES        
Other property-level expenses 93 78 184 162
Depreciation and amortization 168 162 337 334
Corporate and other expenses 30 25 61 48
Gain on insurance and business interruption settlements (3) (7) (3) (7)
Total operating costs and expenses 1,144 1,054 2,277 2,006
OPERATING PROFIT 249 327 497 449
Interest income 20 6 34 7
Interest expense (45) (37) (94) (73)
Other gains 0 1 69 14
Equity in earnings of affiliates 4 2 11 4
INCOME BEFORE INCOME TAXES 228 299 517 401
Provision for income taxes (14) (39) (12) (23)
NET INCOME 214 260 505 378
Less: Net income attributable to non-controlling interests (1) 1 (1) 0
NET INCOME ATTRIBUTABLE TO HOST HOTELS & RESORTS, INC. $ 213 $ 261 $ 504 $ 378
Basic earnings per common share $ 0.30 $ 0.37 $ 0.71 $ 0.53
Diluted earnings per common share $ 0.30 $ 0.37 $ 0.71 $ 0.53
Rooms        
REVENUES        
Revenues $ 850 $ 850 $ 1,670 $ 1,505
EXPENSES        
Expenses 201 189 394 349
Rooms | HOST HOTELS & RESORTS L.P.        
REVENUES        
Revenues 850 850 1,670 1,505
EXPENSES        
Expenses 201 189 394 349
Food and Beverage        
REVENUES        
Revenues 415 405 846 702
EXPENSES        
Expenses 263 245 532 445
Food and Beverage | HOST HOTELS & RESORTS L.P.        
REVENUES        
Revenues 415 405 846 702
EXPENSES        
Expenses 263 245 532 445
Other        
REVENUES        
Revenues 128 126 258 248
EXPENSES        
Expenses 323 300 638 573
Other | HOST HOTELS & RESORTS L.P.        
REVENUES        
Revenues 128 126 258 248
EXPENSES        
Expenses 323 300 638 573
Management fees        
EXPENSES        
Expenses 69 62 134 102
Management fees | HOST HOTELS & RESORTS L.P.        
EXPENSES        
Expenses $ 69 $ 62 $ 134 $ 102