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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
REVENUES        
Revenues $ 5,305 $ 5,409 $ 10,317 $ 10,418
OPERATING COSTS AND EXPENSES        
Depreciation, amortization, and other 56 58 110 112
General, administrative, and other 229 217 451 464
Merger-related costs and charges 173 18 182 52
Costs and expenses 4,896 4,591 9,398 9,070
OPERATING INCOME 409 818 919 1,348
Gains and other income, net 1 114 6 173
Interest expense (102) (85) (199) (160)
Interest income 6 6 12 11
Equity in earnings 0 21 8 34
INCOME BEFORE INCOME TAXES 314 874 746 1,406
Provision for income taxes (82) (207) (139) (319)
NET INCOME $ 232 $ 667 $ 607 $ 1,087
EARNINGS PER SHARE        
Earnings per share - basic (in USD per share) $ 0.70 $ 1.89 $ 1.80 $ 3.06
Earnings per share - diluted (in USD per share) $ 0.69 $ 1.87 $ 1.79 $ 3.02
Base management fees        
REVENUES        
Gross revenues $ 309 $ 300 $ 591 $ 573
Franchise fees        
REVENUES        
Gross revenues 525 475 975 892
Incentive management fees        
REVENUES        
Gross revenues 165 176 328 331
Fee revenues        
REVENUES        
Gross revenues 999 951 1,894 1,796
Contract investment amortization (15) (13) (29) (31)
Revenues 984 938 1,865 1,765
Owned, leased, and other        
REVENUES        
Revenues 418 423 793 829
OPERATING COSTS AND EXPENSES        
Operating costs 331 334 656 670
Reimbursements        
REVENUES        
Revenues 3,903 4,048 7,659 7,824
OPERATING COSTS AND EXPENSES        
Operating costs $ 4,107 $ 3,964 $ 7,999 $ 7,772