XML 130 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating Activities:          
Net income $ 75 $ 310 $ 364 $ 1,416 $ 682
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization, including discontinued operations 89 169 686 692 628
Impairment loss 0 15 15 9 0
Gain on sales of assets, net     (9) (306) 0
Loss (gain) on foreign currency transactions, including discontinued operations (4) (12) 13 41 (26)
Loss on debt extinguishment 60 0      
Share-based compensation 15 11 65 124 78
Amortization of deferred financing costs and other     32 38 50
Distributions from unconsolidated affiliates     22 26 22
Deferred income taxes, including discontnued operations (51) (32) (79) (479) 14
Accounts receivable, net     (143) (47) (143)
Inventories     15 (39) 56
Prepaid expenses     0 (27) (8)
Income taxes receivable     84 35 (57)
Other current assets     (2) 32 (10)
Accounts payable, accrued expenses and other     232 90 8
Income taxes payable     28 13 10
Change in timeshare financing receivables     (54) (49) (27)
Change in deferred revenues     (219) (212) (179)
Change in liability for guest loyalty program     154 64 206
Change in other liabilities     199 154 12
Other (129) (146) (38) (129) (9)
Net cash provided by operating activities 63 339 1,365 1,446 1,307
Investing Activities:          
Capital expenditures for property and equipment (9) (84) (317) (310) (268)
Acquisitions, net of cash acquired     0 (1,402) 0
Proceeds from asset dispositions     11 2,205 44
Contract acquisition costs (13) (9) (55) (37) (65)
Capitalized software costs (9) (11) (81) (62) (69)
Other (19) (6) (36) 20 48
Net cash provided by (used in) investing activities (50) (110) (478) 414 (310)
Financing Activities:          
Borrowings 1,823 0 4,715 48 350
Repayment of debt (1,824) (32) (4,359) (1,624) (1,424)
Debt issuance costs and redemption premium (66) 0 (76) 0 (9)
Capital contribution     0 0 13
Dividends paid (49) (69) (277) (138) 0
Cash transferred in spin-offs of Park and HGV (501) 0      
Repurchases of common stock (70) 0      
Distributions to noncontrolling interests (1) (2) (32) (8) (5)
Tax withholdings on share-based compensation (28) (13) (15) (31) 0
Net cash used in financing activities (716) (116) (44) (1,753) (1,075)
Effect of exchange rate changes on cash, restricted cash and cash equivalents 5 4 (15) (19) (14)
Net increase (decrease) in cash, restricted cash and cash equivalents (698) 117 828 88 (92)
Cash, restricted cash and cash equivalents from continuing operations, beginning of period 1,183 633 633 628 706
Cash, restricted cash and cash equivalents from discontinued operations, beginning of period 501 223 223 140 154
Cash, restricted cash and cash equivalents, beginning of period 1,684 856 856 768 860
Cash, restricted cash and cash equivalents from continuing operations, end of period 986 682 1,183 633 628
Cash, restricted cash and cash equivalents from discontinued operations, end of period 0 291 501 223 140
Cash, restricted cash and cash equivalents, end of period 986 973 1,684 856 768
Supplemental Disclosures:          
Interest 113 86 478 485 514
Income taxes, net of refunds 6 39 677 475 $ 429
Conversion of Park's property and equipment to timeshare inventory of HGV (investing activities) 0 (22)      
Non-cash spin-offs of Park and HGV (financing activities) $ 29 0      
Scenario, Previously Reported [Member]          
Financing Activities:          
Cash, restricted cash and cash equivalents from continuing operations, beginning of period   634 634    
Cash, restricted cash and cash equivalents from discontinued operations, beginning of period   222 222    
Cash, restricted cash and cash equivalents, beginning of period   $ 0 $ 0    
Cash, restricted cash and cash equivalents from continuing operations, end of period       634  
Cash, restricted cash and cash equivalents from discontinued operations, end of period       222  
Cash, restricted cash and cash equivalents, end of period       $ 0