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CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
REVENUES      
Total revenue $ 20,773 $ 13,857 $ 10,571
OPERATING COSTS AND EXPENSES      
Depreciation, amortization, and other 193 220 346
General, administrative, and other 891 823 762
Restructuring, merger-related charges, and other 12 8 267
Costs and Expenses, Total 17,311 12,107 10,487
OPERATING INCOME 3,462 1,750 84
Gains and other income, net 11 10 9
Loss on extinguishment of debt 0 (164) 0
Interest expense (403) (420) (445)
Interest income 26 28 27
Equity in earnings (losses) [1] 18 (24) (141)
INCOME (LOSS) BEFORE INCOME TAXES 3,114 1,180 (466)
(Provision) benefit for income taxes (756) (81) 199
NET INCOME (LOSS) $ 2,358 $ 1,099 $ (267)
EARNINGS (LOSS) PER SHARE      
Earnings (loss) per share - basic (in USD per share) $ 7.27 $ 3.36 $ (0.82)
Earnings (loss) per share - diluted (in USD per share) $ 7.24 $ 3.34 $ (0.82)
Base management fees      
REVENUES      
Gross fee revenues $ 1,044 $ 669 $ 443
Franchise fees      
REVENUES      
Gross fee revenues 2,505 1,790 1,153
Incentive management fees      
REVENUES      
Gross fee revenues 529 235 87
Net fee revenues      
REVENUES      
Gross fee revenues 4,078 2,694 1,683
Contract investment amortization (89) (75) (132)
Total revenue 3,989 2,619 1,551
Owned, leased, and other      
REVENUES      
Total revenue 1,367 796 568
OPERATING COSTS AND EXPENSES      
Cost of revenues 1,074 734 677
Reimbursements      
REVENUES      
Total revenue [1] 15,417 10,442 8,452
OPERATING COSTS AND EXPENSES      
Cost of revenues [1] $ 15,141 $ 10,322 $ 8,435
[1] See Note 15 for disclosure of related party amounts.