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Consolidated Statements of Comprehensive Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues      
Rooms $ 1,794 $ 1,795 $ 1,783
Food and beverage 739 719 691
Ancillary hotel 194 190 194
Other 64 23 20
Total revenues 2,791 2,727 2,688
Operating expenses      
Rooms 466 464 454
Food and beverage 511 503 487
Other departmental and support 671 665 649
Other property-level 187 181 180
Management and franchise fees 141 91 89
Casualty and impairment loss, net 26 15  
Depreciation and amortization 288 300 287
Corporate general and administrative 68 71 83
Other 63 19 16
Total expenses 2,421 2,309 2,245
Gain on sale of assets, net 1 1 143
Operating income 371 419 586
Interest income 2 2 1
Interest expense (124) (181) (186)
Equity in earnings from investments in affiliates 40 3 22
(Loss) gain on foreign currency transactions (4) 3  
Other loss, net   (25) (6)
Income before income taxes 285 221 417
Income tax benefit (expense) 2,346 (82) (118)
Net income 2,631 139 299
Net income attributable to noncontrolling interests (6) (6) (7)
Net income attributable to stockholders [1] 2,625 133 [2] 292 [2]
Other comprehensive loss, net of tax expense:      
Currency translation adjustment, net of tax of $0, $(4) and $13 22 (7) (12)
Total other comprehensive income (loss) 22 (7) (12)
Comprehensive income 2,653 132 287
Comprehensive income attributable to noncontrolling interests (6) (6) (7)
Comprehensive income attributable to stockholders $ 2,647 $ 126 $ 280
Earnings per share:      
Earnings per share - Basic [4] $ 12.38 [3] $ 0.67 [2],[5] $ 1.48 [2]
Earnings per share - Diluted [4] $ 12.21 [3] $ 0.67 [2],[5] $ 1.48 [2]
Weighted Average shares outstanding - Basic 211 198 [2] 198 [2]
Weighted Average shares outstanding - Diluted 214 198 [2] 198 [2]
Dividends declared per common share $ 1.84    
[1] Includes the derecognition and remeasurement of deferred tax assets and liabilities for the year ended December 31, 2017 of $2,347 million associated with our intent to be taxed as a REIT.
[2] For 2016 and 2015, basic and diluted earnings per share were calculated using the number of shares of common stock outstanding upon the completion of the spin-off.
[3] Per share amounts are calculated based on unrounded numbers and are calculated independently for each period presented, therefore, the sum of the quarterly EPS does not equal the EPS for the full year.
[4] Per share amounts are calculated based on unrounded numbers and are calculated independently for each period presented.
[5] Basic and diluted earnings per share were calculated using the number of shares of common stock outstanding upon the completion of the spin-off. Per share amounts are calculated based on unrounded numbers and are calculated independently for each period presented.