XML 16 R2.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
REVENUES    
Revenues $ 4,199 $ 2,316
OPERATING COSTS AND EXPENSES    
Depreciation, amortization, and other 48 52
General, administrative, and other 208 211
Restructuring, merger-related charges, and other 9 1
Costs and expenses 3,641 2,232
OPERATING INCOME 558 84
Gains and other income, net 4 1
Interest expense (93) (107)
Interest income 5 7
Equity in earnings (losses) 2 (12)
INCOME (LOSS) BEFORE INCOME TAXES 476 (27)
(Provision) benefit for income taxes (99) 16
Net income (loss) $ 377 $ (11)
EARNINGS (LOSS) PER SHARE    
Earnings (loss) per share - basic (in USD per share) $ 1.15 $ (0.03)
Earnings (loss) per share - diluted (in USD per share) $ 1.14 $ (0.03)
Base management fees    
REVENUES    
Gross revenues $ 213 $ 106
Franchise fees    
REVENUES    
Gross revenues 500 306
Incentive management fees    
REVENUES    
Gross revenues 102 33
Fee revenues    
REVENUES    
Gross revenues 815 445
Contract investment amortization (24) (17)
Revenues 791 428
Owned, leased, and other    
REVENUES    
Revenues 262 108
OPERATING COSTS AND EXPENSES    
Operating costs 197 135
Reimbursements    
REVENUES    
Revenues 3,146 1,780
OPERATING COSTS AND EXPENSES    
Operating costs $ 3,179 $ 1,833