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Basis of Presentation (Tables)
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Schedule of Effects of Adoption of ASUs on Financial Statements
Income Statements
 
Three Months Ended
 
Six Months Ended
($ in millions, except per share amounts)
June 30, 2017
(As Previously Reported)
 
Adoption of ASU 2014-09
 
June 30, 2017
(As Adjusted)
 
June 30, 2017
(As Previously Reported)
 
Adoption of ASU 2014-09
 
June 30, 2017
(As Adjusted)
REVENUES
 
 
 
 
 
 
 
 
 
 
 
Base management fees
$
285

 
$
—

 
$
285

 
$
549

 
$
—

 
$
549

Franchise fees
416

 
(8
)
 
408

 
781

 
(18
)
 
763

Incentive management fees
148

 
7

 
155

 
301

 
(6
)
 
295

Gross fee revenues
849

 
(1
)
 
848

 
1,631

 
(24
)
 
1,607

Contract investment amortization
—

 
(12
)
 
(12
)
 
—

 
(23
)
 
(23
)
Net fee revenues
849

 
(13
)
 
836

 
1,631

 
(47
)
 
1,584

Owned, leased, and other revenue
458

 
(10
)
 
448

 
897

 
(21
)
 
876

Cost reimbursement revenue
4,488

 
(561
)
 
3,927

 
8,828

 
(1,165
)
 
7,663

 
5,795

 
(584
)
 
5,211

 
11,356

 
(1,233
)
 
10,123

OPERATING COSTS AND EXPENSES
 
 
 
 
 
 
 
 
 
 
 
Owned, leased, and other-direct
355

 
(5
)
 
350

 
713

 
(7
)
 
706

Depreciation, amortization, and other
85

 
(14
)
 
71

 
150

 
(28
)
 
122

General, administrative, and other
226

 
8

 
234

 
436

 
10

 
446

Merger-related costs and charges
21

 
—

 
21

 
72

 
—

 
72

Reimbursed expenses
4,488

 
(697
)
 
3,791

 
8,828

 
(1,341
)
 
7,487

 
5,175

 
(708
)
 
4,467

 
10,199

 
(1,366
)
 
8,833

OPERATING INCOME
620

 
124

 
744

 
1,157

 
133

 
1,290

Gains and other income, net
25

 
—

 
25

 
25

 
—

 
25

Interest expense
(73
)
 
—

 
(73
)
 
(143
)
 
—

 
(143
)
Interest income
8

 
—

 
8

 
15

 
—

 
15

Equity in earnings
12

 
—

 
12

 
23

 
—

 
23

INCOME BEFORE INCOME TAXES
592

 
124

 
716

 
1,077

 
133

 
1,210

Provision for income taxes
(178
)
 
(49
)
 
(227
)
 
(298
)
 
(52
)
 
(350
)
NET INCOME
$
414

 
$
75

 
$
489

 
$
779

 
$
81

 
$
860

EARNINGS PER SHARE
 
 
 
 
 
 
 
 
 
 
 
Earnings per share - basic
$
1.09

 
$
0.20

 
$
1.29

 
$
2.04

 
$
0.21

 
$
2.25

Earnings per share - diluted
$
1.08

 
$
0.20

 
$
1.28

 
$
2.02

 
$
0.21

 
$
2.23

Statements of Comprehensive Income
 
Three Months Ended
 
Six Months Ended
($ in millions)
June 30, 2017
(As Previously Reported)
 
Adoption of ASU 2014-09
 
June 30, 2017
(As Adjusted)
 
June 30, 2017
(As Previously Reported)
 
Adoption of ASU 2014-09
 
June 30, 2017
(As Adjusted)
Net income
$
414

 
$
75

 
$
489

 
$
779

 
$
81

 
$
860

Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
162

 
—

 
162

 
350

 
—

 
350

Derivative instrument adjustments, net of tax
(6
)
 
—

 
(6
)
 
(8
)
 
—

 
(8
)
Unrealized (loss) gain on available-for-sale securities, net of tax
(1
)
 
—

 
(1
)
 
(2
)
 
—

 
(2
)
Pension and postretirement adjustments, net of tax
—

 
—

 
—

 
—

 
—

 
—

Reclassification of losses, net of tax
1

 
—

 
1

 
1

 
—

 
1

Total other comprehensive income, net of tax
156

 
—

 
156

 
341

 
—

 
341

Comprehensive income
$
570

 
$
75

 
$
645

 
$
1,120

 
$
81

 
$
1,201

Balance Sheets
($ in millions)
December 31, 2017
(As Previously Reported) (1)
 
Adoption of ASU 2014-09
 
December 31, 2017
(As Adjusted)
ASSETS
 
 
 
 
 
Current assets
 
 
 
 
 
Cash and equivalents
$
383

 
$
—

 
$
383

Accounts and notes receivable, net
1,999

 
(26
)
 
1,973

Prepaid expenses and other
216

 
19

 
235

Assets held for sale
149

 
—

 
149

 
2,747

 
(7
)
 
2,740

Property and equipment, net
1,793

 
—

 
1,793

Intangible assets
 
 
 
 
 
Brands
5,922

 
—

 
5,922

Contract acquisition costs and other
2,884

 
(262
)
 
2,622

Goodwill
9,207

 
—

 
9,207

 
18,013

 
(262
)
 
17,751

Equity method investments
735

 
(1
)
 
734

Notes receivable, net
142

 
—

 
142

Deferred tax assets
93

 
—

 
93

Other noncurrent assets
426

 
167

 
593

 
$
23,949

 
$
(103
)
 
$
23,846

LIABILITIES AND STOCKHOLDERS' EQUITY
 
 
 
 
 
Current liabilities
 
 
 
 
 
Current portion of long-term debt
$
398

 
$
—

 
$
398

Accounts payable
783

 
—

 
783

Accrued payroll and benefits
1,214

 
—

 
1,214

Liability for guest loyalty programs
2,064

 
57

 
2,121

Accrued expenses and other
1,541

 
(250
)
 
1,291

 
6,000

 
(193
)
 
5,807

Long-term debt
7,840

 
—

 
7,840

Liability for guest loyalty programs
2,876

 
(57
)
 
2,819

Deferred tax liabilities
604

 
1

 
605

Deferred revenue
145

 
438

 
583

Other noncurrent liabilities
2,753

 
(143
)
 
2,610

Shareholders' equity
 
 
 
 
 
Class A Common Stock
5

 
—

 
5

Additional paid-in-capital
5,770

 
—

 
5,770

Retained earnings
7,391

 
(149
)
 
7,242

Treasury stock, at cost
(9,418
)
 
—

 
(9,418
)
Accumulated other comprehensive loss
(17
)
 
—

 
(17
)
 
3,731

 
(149
)
 
3,582

 
$
23,949

 
$
(103
)
 
$
23,846

(1) 
Includes reclassifications among various captions, including Deferred revenue and Other noncurrent liabilities, to conform to current period presentation.
Statements of Cash Flows
 
Six Months Ended
 
 
 
 
 
Six Months Ended
($ in millions)
June 30, 2017
(As Previously Reported)
 
Adoption of ASU 2014-09
 
Adoption of ASUs 2016-18 and 2016-15
 
June 30, 2017
(As Adjusted)
OPERATING ACTIVITIES
 
 
 
 
 
 
 
Net income
$
779

 
$
81

 
$
—

 
$
860

Adjustments to reconcile to cash provided by operating activities:
 
 
 
 
 
 
 
Depreciation, amortization, and other
150

 
(5
)
 
—

 
145

Share-based compensation
95

 
—

 
—

 
95

Income taxes
96

 
52

 
—

 
148

Liability for guest loyalty program
204

 
(20
)
 
—

 
184

Contract acquisition costs
—

 
(89
)
 
—

 
(89
)
Merger-related charges
(98
)
 
—

 
—

 
(98
)
Working capital changes
(6
)
 
(95
)
 
(12
)
 
(113
)
Gain on asset dispositions
(24
)
 
—

 
—

 
(24
)
Other
106

 
(14
)
 
(14
)
 
78

Net cash provided by (used in) operating activities
1,302

 
(90
)
 
(26
)
 
1,186

INVESTING ACTIVITIES
 
 
 
 
 
 
 
Capital expenditures
(104
)
 
—

 
—

 
(104
)
Dispositions
482

 
—

 
—

 
482

Loan advances
(48
)
 
—

 
—

 
(48
)
Loan collections
10

 
—

 
—

 
10

Contract acquisition costs
(91
)
 
91

 
—

 
—

Other
(16
)
 
(1
)
 
—

 
(17
)
Net cash provided by investing activities
233

 
90

 
—

 
323

FINANCING ACTIVITIES
 
 
 
 
 
 
 
Commercial paper/Credit Facility, net
105

 
—

 
14

 
119

Issuance of long-term debt
1

 
—

 
—

 
1

Repayment of long-term debt
(301
)
 
—

 
—

 
(301
)
Issuance of Class A Common Stock
3

 
—

 
—

 
3

Dividends paid
(240
)
 
—

 
—

 
(240
)
Purchase of treasury stock
(1,328
)
 
—

 
—

 
(1,328
)
Share-based compensation withholding taxes
(135
)
 
—

 
—

 
(135
)
Net cash provided by (used in) financing activities
(1,895
)
 
—

 
14

 
(1,881
)
(DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH
(360
)
 
—

 
(12
)
 
(372
)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period
858

 
—

 
29

 
887

CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period
$
498

 
$
—

 
$
17

 
$
515

See Footnote 10. Accumulated Other Comprehensive Loss and Shareholders’ Equity for the impact of the adoption of new accounting standards on our shareholders’ equity.
The following tables present the effect of the adoption of ASUs 2014-09, 2016-15, and 2016-18 on our 2017 Financial Statements. Throughout this report, our 2017 financial results reflect the “As Adjusted” amounts shown in the tables below.