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
Other		15,329	13,570		9,776	8,490	7,216
Total revenues		17,929	15,740	13,857	11,583	9,891	8,206	10,571
Revenue growth		81.3%	91.8%	31.1%	-15.9%	-41.1%	-60.2%	-49.6%
Cost of goods sold		14,376	12,695	11,283	9,764	8,449	7,407	9,685
Gross profit		3,553	3,045	2,574	1,819	1,442	799	886
Gross margin		19.8%	19.3%	18.6%	15.7%	14.6%	9.7%	8.4%
Selling, general and administrative [+]		864	820	823	793	712	703	762
General and administrative		864	820	823	793	712	703	762
Equity in earnings		13	-10		-111	-127	-149	-141
EBITDA [+]		3,215	2,729	2,242	1,483	1,176	567	807
EBITDA growth		173.4%	381.3%	177.8%	9.4%	-31.1%	-76.6%	-69.4%
EBITDA margin		17.9%	17.3%	16.2%	12.8%	11.9%	6.9%	7.6%
Depreciation and amortization		513	514	515	568	573	620	824
EBIT [+]		2,702	2,215	1,727	915	603	-53	-17
EBIT growth		348.1%	-4279.2%	-10258.8%	172.3%	-16.4%	-103.6%	-100.9%
EBIT margin		15.1%	14.1%	12.5%	7.9%	6.1%	-0.6%	-0.2%
Non-recurring items				1	39			40
Interest expense, net [+]		367	380	392	406	414	431	418
Interest expense		392	406	420	435	441	459	445
Interest income		25	26	28	29	27	28	27
Other income (expense), net [+]		-154	-151	-154	-152	14	14	9
Other		10	13	10		14	14	9
Pre-tax income		2,180	1,683	1,180	318	167	-512	-466
Income taxes		437	196	81	-149	-180	-203	-199
Tax rate		20.0%	11.6%	6.9%	-46.9%		39.6%	42.7%
Net income		1,743	1,487	1,099	467	347	-309	-267
Net margin		9.7%	9.4%	7.9%	4.0%	3.5%	-3.8%	-2.5%

Basic EPS [+]		$5.32	$4.54	$3.36	$1.43	$1.06	($0.95)	($0.82)
Growth		400.2%	-579.1%	-509.8%	165.9%	-24.6%	-133.7%	-121.5%
Diluted EPS [+]		$5.29	$4.51	$3.34	$1.42	$1.06	($0.95)	($0.82)
Growth		398.6%	-576.6%	-508.9%	166.2%	-24.3%	-133.9%	-121.6%

Dividends per share [+]	$0.00	$0.30
Growth				-100.0%	-100.0%	-100.0%	-100.0%	-65.0%

Shares outstanding (basic) [+]		328	327	327	327	326	326	326
Growth		0.4%	0.5%	0.4%	-0.2%	-0.6%	-1.3%	-2.5%
Shares outstanding (diluted) [+]		330	329	329	328	327	326	326
Growth		0.7%	1.0%	0.7%	-0.3%	-1.0%	-2.0%	-3.1%

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