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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUES        
Revenue $ 6,439 $ 6,075 $ 12,416 $ 11,690 Close
OPERATING COSTS AND EXPENSES        
Depreciation, amortization, and other 47 48 92 92
General, administrative, and other 248 240 509 442
Merger-related charges and other 8 38 16 39
Costs and expenses 5,244 4,979 10,345 9,643 Close
OPERATING INCOME 1,195 1,096 2,071 2,047 Close
Gains and other income, net 4 2 8 5 Close
Interest expense (173) (140) (336) (266) Close
Interest income 9 (1) 19 14 Close
Equity in earnings 5 7 5 8 Close
Total Other Income Expenses -155.0 -132.0 -304.0 -239.0 0 Close
INCOME BEFORE INCOME TAXES 1,040 964 1,767 1,808 CloseClose
Provision for income taxes (268) (238) (431) (325) Close
NET INCOME $ 772 $ 726 $ 1,336 $ 1,483 Close
EARNINGS PER SHARE        
Earnings per share - basic (in USD per share) $ 2.70 $ 2.39 $ 4.64 $ 4.84
Earnings per share - diluted (in USD per share) $ 2.69 $ 2.38 $ 4.62 $ 4.81
Net fee revenues        
REVENUES        
Gross fee revenues $ 1,343 $ 1,250 $ 2,553 $ 2,383
Contract investment amortization (27) (22) (50) (43)
Revenue 1,316 1,228 2,503 2,340
Base management fees        
REVENUES        
Gross fee revenues 330 318 643 611
Franchise fees        
REVENUES        
Gross fee revenues 818 739 1,506 1,378
Incentive management fees        
REVENUES        
Gross fee revenues 195 193 404 394
Owned, leased, and other revenue        
REVENUES        
Revenue 395 390 752 746
OPERATING COSTS AND EXPENSES        
Operating costs 296 287 582 568
Cost reimbursement revenue        
REVENUES        
Revenue 4,728 4,457 9,161 8,604
OPERATING COSTS AND EXPENSES        
Operating costs $ 4,645 $ 4,366 $ 9,146 $ 8,502