MARRIOTT INTERNATIONAL INC (MAR) [Rocket]

In millions, except per share items	Mar-31-23	Jun-30-22	Mar-31-22	Dec-31-21	Sep-30-21	Jun-30-21	Mar-31-21	Dec-31-20
	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K
Revenues:
Other International	1,112	1,054	791		755	624	428
Other	4,503	4,284	3,408		3,191	2,525	1,888
Total revenues	5,615	5,338	4,199	4,446	3,946	3,149	2,316	2,172
Revenue growth [+]	33.7%	69.5%	81.3%	104.7%	75.1%	115.1%	-50.5%	-59.6%
Other International	40.6%	68.9%	84.8%		116.3%	193.0%	-29.1%
Cost of goods sold	4,462	4,157	3,433	3,601	3,185	2,476	2,021	2,082
Gross profit	1,153	1,181	766	845	761	673	295	90
Gross margin	20.5%	22.1%	18.2%	19.0%	19.3%	21.4%	12.7%	4.1%
Selling, general and administrative [+]	202	231	208	213	212	187	211	183
General and administrative	202	231	208	213	212	187	211	183
Equity in earnings	1	15	2		-4	-8	-12	-87
EBITDA [+]	1,061	1,082	680	759	694	596	193	0
EBITDA growth	56.0%	81.5%	252.3%		79.3%	-4684.6%	-55.4%	-100.0%
EBITDA margin	18.9%	20.3%	16.2%	17.1%	17.6%	18.9%	8.3%	0.0%
Depreciation and amortization	109	117	120	127	149	118	121	180
EBIT [+]	952	965	560	632	545	478	72	-180
EBIT growth	70.0%	101.9%	677.8%	-451.1%	133.9%	-368.5%	-33.3%	-204.0%
EBIT margin	17.0%	18.1%	13.3%	14.2%	13.8%	15.2%	3.1%	-8.3%
Non-recurring items				-3	4			35
Interest expense, net [+]	111	89	88	91	99	102	100	105
Interest expense	126	95	93	97	107	109	107	112
Interest income	15	6	5	6	8	7	7	7
Other income (expense), net [+]	3	2	4	4	-164	5	1	6
Other	3	2	4	4		5	1	6
Pre-tax income	844	878	476	548	278	381	-27	-314
Income taxes	87	200	99	80	58	-41	-16	-150
Tax rate	10.3%	22.8%	20.8%	14.6%	20.9%		59.3%	47.8%
Net income	757	678	377	468	220	422	-11	-164
Net margin	13.5%	12.7%	9.0%	10.5%	5.6%	13.4%	-0.5%	-7.6%

Basic EPS [+]	$2.45	$2.07	$1.15	$1.43	$0.67	$1.29	($0.03)	($0.50)
Growth	112.9%	60.1%	-3510.6%	-384.1%	119.1%	-279.5%	-135.3%	-160.0%
Diluted EPS [+]	$2.43	$2.06	$1.14	$1.42	$0.67	$1.28	($0.03)	($0.50)
Growth	113.1%	60.5%	-3493.0%	-382.3%	118.3%	-278.4%	-135.6%	-160.5%

Dividends per share [+]	$0.40	$0.30
Growth							-100.0%	-100.0%

Shares outstanding (basic) [+]	310	328	328	327	327	327	327	326
Growth	-5.7%	0.3%	0.5%	0.4%	0.4%	0.5%	0.4%	-2.1%
Shares outstanding (diluted) [+]	311	330	330	329	329	329	327	326
Growth	-5.8%	0.1%	1.0%	1.1%	0.8%	1.1%	-0.2%	-2.9%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.