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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
REVENUES        
Revenues $ 5,346 $ 5,211 $ 10,352 $ 10,123
OPERATING COSTS AND EXPENSES        
Depreciation, amortization, and other 58 71 112 122
General, administrative, and other 217 234 464 446
Merger-related costs and charges 18 21 52 72
Costs and expenses 4,606 4,467 9,112 8,833
OPERATING INCOME 740 744 1,240 1,290
Gains and other income, net 114 25 173 25
Interest expense (85) (73) (160) (143)
Interest income 6 8 11 15
Equity in earnings 21 12 34 23
INCOME BEFORE INCOME TAXES 796 716 1,298 1,210
Provision for income taxes (186) (227) (290) (350)
NET INCOME $ 610 $ 489 $ 1,008 $ 860
EARNINGS PER SHARE        
Earnings per share - basic (in USD per share) $ 1.73 $ 1.29 $ 2.83 $ 2.25
Earnings per share - diluted (in USD per share) 1.71 1.28 2.80 2.23
CASH DIVIDENDS DECLARED PER SHARE (in USD per share) $ 0.41 $ 0.33 $ 0.74 $ 0.63
Base management fees        
REVENUES        
Gross revenues $ 300 $ 285 $ 573 $ 549
Franchise fees        
REVENUES        
Gross revenues 475 408 892 763
Incentive management fees        
REVENUES        
Gross revenues 176 155 331 295
Fee revenues        
REVENUES        
Gross revenues 951 848 1,796 1,607
Contract investment amortization (13) (12) (31) (23)
Revenues 938 836 1,765 1,584
Owned, leased, and other        
REVENUES        
Revenues 423 448 829 876
OPERATING COSTS AND EXPENSES        
Operating costs 334 350 670 706
Reimbursements        
REVENUES        
Revenues 3,985 3,927 7,758 7,663
OPERATING COSTS AND EXPENSES        
Operating costs $ 3,979 $ 3,791 $ 7,814 $ 7,487