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Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Total revenues $ 662 $ 423 $ 1,836 $ 911
Operating expenses        
Other property-level 58 51 173 151
Management fees 30 19 84 40
Casualty and impairment loss, net 3 2 4 7
Depreciation and amortization 67 68 204 213
Corporate general and administrative 16 14 48 48
Other 18 14 52 34
Total expenses 584 426 1,637 1,087
Gain (loss) on sales of assets, net 14 (11) 13 (5)
Operating income (loss) 92 (14) 212 (181)
Interest income 4 0 5 0
Interest expense (61) (66) (185) (195)
Equity in earnings (losses) from investments in affiliates 1 0 6 (6)
Other gain (loss), net 1 (5) 98 (7)
Income (loss) before income taxes 37 (85) 136 (389)
Income tax benefit (expense) 3 3 2 2
Net income (loss) 40 (82) 138 (387)
Net income attributable to noncontrolling interests (5) (4) (10) (5)
Net income (loss) attributable to stockholders 35 (86) 128 (392)
Other comprehensive income, net of tax expense:        
Change in fair value of interest rate swap, net of tax 0 1 0 2
Loss from interest rate swap reclassified into earnings 0 2 0 2
Total other comprehensive income 0 3 0 4
Comprehensive income (loss) 40 (79) 138 (383)
Comprehensive income attributable to noncontrolling interests (5) (4) (10) (5)
Comprehensive income (loss) attributable to stockholders $ 35 $ (83) $ 128 $ (388)
Earnings (loss) per share:        
Earnings (loss) per share - Basic [1] $ 0.15 $ (0.36) $ 0.55 $ (1.66)
Earnings (loss) per share - Diluted [1] $ 0.15 $ (0.36) $ 0.55 $ (1.66)
Weighted average shares outstanding - Basic 224 236 229 236
Weighted average shares outstanding - Diluted 224 236 229 236
Rooms [Member]        
Revenues        
Total revenues $ 428 $ 274 $ 1,153 $ 587
Operating expenses        
Expenses 115 76 298 170
Food and Beverage [Member]        
Revenues        
Total revenues 148 76 431 152
Operating expenses        
Expenses 115 63 321 126
Ancillary Hotel [Member]        
Revenues        
Total revenues 67 58 198 137
Other [Member]        
Revenues        
Total revenues 19 15 54 35
Other Departmental and Support [Member]        
Operating expenses        
Expenses $ 162 $ 119 $ 453 $ 298
[1] Per share amounts are calculated based on unrounded numbers and are calculated independently for each period presented.