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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
REVENUES    
Revenues $ 5,615 $ 4,199
OPERATING COSTS AND EXPENSES    
Depreciation, amortization, and other 44 48
General, administrative, and other 202 208
Merger-related charges and other 1 9
Costs and expenses 4,664 3,641
OPERATING INCOME 951 558
Gains and other income, net 3 4
Interest expense (126) (93)
Interest income 15 5
Equity in earnings 1 2
INCOME BEFORE INCOME TAXES 844 476
Provision for income taxes (87) (99)
NET INCOME $ 757 $ 377
EARNINGS PER SHARE    
Basic (in USD per share) $ 2.44 $ 1.15
Diluted (in USD per share) $ 2.43 $ 1.14
Base management fees    
REVENUES    
Gross revenues $ 293 $ 213
Franchise fees    
REVENUES    
Gross revenues 639 500
Incentive management fees    
REVENUES    
Gross revenues 201 102
Fee revenues    
REVENUES    
Gross revenues 1,133 815
Contract investment amortization (21) (24)
Revenues 1,112 791
Owned, leased, and other    
REVENUES    
Revenues 356 262
OPERATING COSTS AND EXPENSES    
Operating costs 281 197
Reimbursements    
REVENUES    
Revenues 4,147 3,146
OPERATING COSTS AND EXPENSES    
Operating costs $ 4,136 $ 3,179