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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Activities:      
Net income $ 316 $ 477 $ 2,631
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 264 277 288
Gain on sales of assets, net (19) (96) (1)
Casualty (gain) loss and impairment loss, net (18) (1) 16
Equity in earnings from investments in affiliates (14) (18) (40)
Loss on foreign currency transactions 1 3 4
Other gain, net (46) (102)  
Share-based compensation expense 16 16 14
Amortization of deferred financing costs 5 4 5
Distributions from unconsolidated affiliates 22 18 19
Deferred income taxes 5 (20) (2,378)
Changes in operating assets and liabilities:      
Accounts receivable, net (3) (27) 4
Prepaid expenses 6 (34) 8
Other assets (20) (34) (1)
Accounts payable and accrued expenses (28) (21) 20
Due to hotel manager 7 (4) 50
Other liabilities 10 14 20
Other (5) (8) (6)
Net cash provided by operating activities 499 444 653
Investing Activities:      
Acquisitions, net of cash and restricted cash acquired (914) (10)  
Capital expenditures for property and equipment (240) (178) (185)
Proceeds from asset dispositions, net 429 369  
Proceeds from the sale of investments in affiliates, net 51 150  
Insurance proceeds for property damage claims 39 88 2
Investments in affiliates     (1)
Distributions from unconsolidated affiliates     19
Net cash (used in) provided by investing activities (635) 419 (165)
Financing Activities:      
Borrowings under credit facilities 850    
Repayment of debt (232)   (55)
Payments of deferred financing costs (11)    
Dividends paid (494) (464) (386)
Distributions to noncontrolling interests (9) (2) (6)
Tax withholdings on share-based compensation (7) (2) (3)
Repurchase of common stock   (348)  
Net transfers to Parent     (9)
Net cash provided by (used in) financing activities 97 (816) (459)
Effect of exchange rate changes on cash and cash equivalents and restricted cash   (1)  
Net (decrease) increase in cash and cash equivalents and restricted cash (39) 46 29
Cash and cash equivalents and restricted cash, beginning of period 425 379 350
Cash and cash equivalents and restricted cash, end of period $ 386 $ 425 $ 379