Net Parent Investment

9 Months Ended

Sep. 30, 2017

Note 10: Net Parent Investment

Parent

Net Parent investment on our 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:

	Nine Months Ended September 30,
	2017			2016
	(in millions)
Cash pooling and general financing activities	$	(9	)	$	(4	)
Corporate allocations		—			44
Income taxes		—			127
Net transfers (to) from Parent	$	(9	)	$	167