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Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Total revenues $ 695 $ 323 $ 1,174 $ 488
Operating expenses        
Other property-level 65 52 115 100
Management fees 32 14 54 21
Casualty and impairment loss, net 1 5 1 5
Depreciation and amortization 68 71 137 145
Corporate general and administrative 16 16 32 34
Other 18 13 34 20
Total expenses 575 373 1,053 661
(Loss) gain on sales of assets, net (1) 6 (1) 6
Operating income (loss) 119 (44) 120 (167)
Interest income 1 0 1 0
Interest expense (62) (66) (124) (129)
Equity in earnings (losses) from investments in affiliates 5 (2) 5 (6)
Other gain (loss), net 92 (2) 97 (2)
Income (loss) before income taxes 155 (114) 99 (304)
Income tax expense (1) 0 (1) (1)
Net income (loss) 154 (114) 98 (305)
Net income attributable to noncontrolling interests (4) (2) (5) (1)
Net income (loss) attributable to stockholders 150 (116) 93 (306)
Other comprehensive income, net of tax expense:        
Change in fair value of interest rate swap, net of tax 0 0 0 1
Total other comprehensive income 0 0 0 1
Comprehensive income (loss) 154 (114) 98 (304)
Comprehensive income attributable to noncontrolling interests (4) (2) (5) (1)
Comprehensive income (loss) attributable to stockholders $ 150 $ (116) $ 93 $ (305)
Earnings (loss) per share:        
Earnings (loss) per share - Basic [1] $ 0.66 $ (0.49) $ 0.40 $ (1.30)
Earnings (loss) per share - Diluted [1] $ 0.66 $ (0.49) $ 0.40 $ (1.30)
Weighted average shares outstanding - Basic 228 236 232 235
Weighted average shares outstanding - Diluted 228 236 232 236
Rooms [Member]        
Revenues        
Total revenues $ 433 $ 207 $ 725 $ 313
Operating expenses        
Expenses 98 59 183 94
Food and Beverage [Member]        
Revenues        
Total revenues 173 54 283 76
Operating expenses        
Expenses 119 42 206 63
Ancillary Hotel [Member]        
Revenues        
Total revenues 70 50 131 79
Other [Member]        
Revenues        
Total revenues 19 12 35 20
Other Departmental and Support [Member]        
Operating expenses        
Expenses $ 158 $ 101 $ 291 $ 179
[1] Per share amounts are calculated based on unrounded numbers and are calculated independently for each period presented.