Net Parent Investment

3 Months Ended

Mar. 31, 2017

Note 10: Net Parent Investment

Parent

Net Parent investment on the historical condensed combined consolidated balance sheets represent Hilton’s historical investment in us, the net effect of transactions with and allocations from Hilton and our accumulated earnings. Net transfers (to) from Parent are included within Net Parent investment. The components of the Net transfers (to) from Parent on the condensed combined consolidated statements of cash flows were:

	Three Months Ended March 31,
	2017			2016
	(in millions)
Cash pooling and general financing activities	$	(9	)	$	(5	)
Corporate allocations		—			12
Income taxes		—			28
Net transfers (to) from Parent	$	(9	)	$	35