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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
OPERATING ACTIVITIES    
Net income $ 1,008 $ 860
Adjustments to reconcile to cash provided by operating activities:    
Depreciation, amortization, and other 143 145
Share-based compensation 93 95
Income taxes (198) 148
Contract acquisition costs (71) (89)
Merger-related charges (23) (98)
Working capital changes (241) (113)
Gain on asset dispositions (173) (24)
Other 49 78
Net cash provided by (used in) operating activities 1,129 1,186
INVESTING ACTIVITIES    
Capital expenditures (388) (104)
Dispositions 436 482
Loan advances (13) (48)
Loan collections 29 10
Other 50 (17)
Net cash provided by investing activities 114 323
FINANCING ACTIVITIES    
Commercial paper/Credit Facility, net 707 119
Issuance of long-term debt 443 1
Repayment of long-term debt (387) (301)
Issuance of Class A Common Stock 4 3
Dividends paid (262) (240)
Purchase of treasury stock (1,673) (1,328)
Share-based compensation withholding taxes (101) (135)
Net cash provided by (used in) financing activities (1,269) (1,881)
DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (26) (372)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period 429 887
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period 403 515
Liability for guest loyalty programs    
Adjustments to reconcile to cash provided by operating activities:    
Liability for guest loyalty programs $ 542 $ 184