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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
REVENUES    
Revenue $ 5,977 $ 5,615 Close
OPERATING COSTS AND EXPENSES    
Depreciation, amortization, and other 45 44
General, administrative, and other 261 202
Merger-related charges and other 8 1
Costs and expenses 5,101 4,664 Close
OPERATING INCOME 876 951 Close
Gains and other income, net 4 3 Close
Interest expense (163) (126) Close
Interest income 10 15 Close
Equity in earnings 0 1 Close
Total Other Income Expenses -149.0 -107.0 0 0 0 Close
INCOME BEFORE INCOME TAXES 727 844 CloseClose
Provision for income taxes (163) (87) Close
NET INCOME $ 564 $ 757 Close
EARNINGS PER SHARE    
Earnings per share - basic (in USD per share) $ 1.94 $ 2.44
Earnings per share - diluted (in USD per share) $ 1.93 $ 2.43
Fee revenues    
REVENUES    
Gross fee revenues $ 1,210 $ 1,133
Contract investment amortization (23) (21)
Revenue 1,187 1,112
Base management fees    
REVENUES    
Gross fee revenues 313 293
Franchise fees    
REVENUES    
Gross fee revenues 688 639
Incentive management fees    
REVENUES    
Gross fee revenues 209 201
Owned, leased and other    
REVENUES    
Revenue 357 356
OPERATING COSTS AND EXPENSES    
Operating costs 286 281
Reimbursements    
REVENUES    
Revenue 4,433 4,147
OPERATING COSTS AND EXPENSES    
Operating costs $ 4,501 $ 4,136