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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
REVENUES        
Revenues $ 5,284 $ 5,051 $ 15,601 $ 15,469
OPERATING COSTS AND EXPENSES        
Depreciation, amortization, and other 52 52 162 164
General, administrative, and other 220 221 671 685
Merger-related costs and charges 9 12 191 64
Costs and expenses 4,677 4,455 14,075 13,525
OPERATING INCOME 607 596 1,526 1,944
Gains and other income, net 10 18 16 191
Interest expense (100) (86) (299) (246)
Interest income 8 5 20 16
Equity in earnings 2 61 10 95
INCOME BEFORE INCOME TAXES 527 594 1,273 2,000
Provision for income taxes (140) (91) (279) (410)
NET INCOME $ 387 $ 503 $ 994 $ 1,590
EARNINGS PER SHARE        
Earnings per share - basic (in USD per share) $ 1.17 $ 1.45 $ 2.97 $ 4.51
Earnings per share - diluted (in USD per share) $ 1.16 $ 1.43 $ 2.95 $ 4.45
Base management fees        
REVENUES        
Gross revenues $ 291 $ 279 $ 882 $ 852
Franchise fees        
REVENUES        
Gross revenues 530 502 1,505 1,394
Incentive management fees        
REVENUES        
Gross revenues 134 151 462 482
Fee revenues        
REVENUES        
Gross revenues 955 932 2,849 2,728
Contract investment amortization (16) (13) (45) (44)
Revenues 939 919 2,804 2,684
Owned, leased, and other        
REVENUES        
Revenues 393 397 1,186 1,226
OPERATING COSTS AND EXPENSES        
Operating costs 326 315 982 985
Reimbursements        
REVENUES        
Revenues 3,952 3,735 11,611 11,559
OPERATING COSTS AND EXPENSES        
Operating costs $ 4,070 $ 3,855 $ 12,069 $ 11,627