CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Current assets
Cash and equivalents	$ 258	$ 316
Accounts and notes receivable, net	2,218	2,133
Prepaid expenses and other	259	257
Assets, current, total	2,735	2,706
Property and equipment, net	1,961	1,956
Intangible assets
Goodwill	9,053	9,039
Goodwill and intangible assets, net, total	17,655	17,419
Equity method investments	584	732
Notes receivable, net	124	125
Deferred tax assets	171	171
Operating lease assets	979
Other noncurrent assets	537	587
Total assets	24,746	23,696
Current liabilities
Current portion of long-term debt	231	833
Accounts payable	745	767
Accrued payroll and benefits	1,039	1,345
Accrued expenses and other	1,208	963
Liabilities, current, total	5,848	6,437
Long-term debt	10,025	8,514
Operating lease liabilities	889	0
Deferred tax liabilities	441	485
Other noncurrent liabilities	2,309	2,372
Shareholders’ equity
Class A Common Stock	5	5
Additional paid-in-capital	5,706	5,814
Retained earnings	9,219	8,982
Treasury stock, at cost	(12,967)	(12,185)
Accumulated other comprehensive loss	(360)	(391)
Stockholders' equity (deficit) attributable to parent	1,603	2,225
Liabilities and equity (deficit), total	24,746	23,696
Brands
Intangible assets
Intangible assets	5,959	5,790
Contract acquisition costs and other
Intangible assets
Intangible assets	2,643	2,590
Liability for guest loyalty program
Current liabilities
Liability for guest loyalty program	2,625	2,529
Contract with customer liabilities	2,888	2,932
Deferred revenue
Current liabilities
Contract with customer liabilities	$ 743	$ 731

The aggregate of amounts due from customers or clients, within one year of the balance sheet date (or one operating cycle, if longer), for goods or services that have been delivered or sold in the normal course of business and an amount representing an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date within one year of the balance sheet, reduced to their estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection and net of any write-downs taken for collection uncertainty on the part of the holder, respectively.

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Period Type:	instant

- Definition

Carrying value as of the balance sheet date of obligations incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).