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Condensed Combined Consolidated Statements of Cash Flows (Unaudited)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
USD ($)
Sep. 30, 2018
USD ($)
Sep. 30, 2017
USD ($)
Operating Activities:      
Net income $ 55 $ 422 $ 2,570
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 69 208 217
Gain on sales of assets, net (2) (98)  
Casualty (gain) loss and impairment loss, net   (1)  
Equity in earnings from investments in affiliates (4) (16) (18)
Loss on foreign currency transactions   4 4
Other (gain) loss, net   (106) 3
Share-based compensation expense   12 11
Amortization of deferred financing costs   3 3
Distributions from unconsolidated affiliates   12 14
Deferred income taxes   (3) (2,360)
Changes in operating assets and liabilities   (142) 14
Net cash provided by operating activities   295 458
Investing Activities:      
Capital expenditures for property and equipment   (133) (125)
Proceeds from asset dispositions, net   369  
Proceeds from the sale of investments in affiliates, net   150  
Insurance proceeds for property damage claims   87  
Investments in affiliates     (1)
Distributions from unconsolidated affiliates     1
Net cash provided by (used in) investing activities   473 (125)
Financing Activities:      
Dividends paid   (379) (294)
Distributions to noncontrolling interests   (1) (3)
Tax withholdings on share-based compensation   (2) (2)
Repurchase of common stock   (348)  
Net transfers to Parent     (9)
Net cash used in financing activities   (730) (308)
Effect of exchange rate changes on cash and cash equivalents and restricted cash   (2) 2
Net increase in cash and cash equivalents and restricted cash   36 27
Cash and cash equivalents and restricted cash, beginning of period   379 350
Cash and cash equivalents and restricted cash, end of period 415 415 377
Non-cash investing activities:      
Transfer of property and equipment to Hilton Grand Vacations   3 4
Non-cash financing activities:      
Dividends paid in stock     441
Dividends declared but unpaid $ 86 $ 86 $ 92