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In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
Revenues: |
Food and beverage | | | | | | | | 691 |
Rooms | | | | | | | | 1,783 |
Other | | | | | | | | 20 |
Other | | | | | | | | 194 |
Total revenues [+] | 2,501 | 1,362 | 852 | 2,844 | 2,737 | 2,791 | 2,727 | 2,688 |
Food & beverage | | | | | | | | 691 |
Room / occupancy | | | | | | | | 1,783 |
Other hotel | | | | | | | | 20 |
Revenue growth | 83.6% | 59.9% | -70.0% | 3.9% | -1.9% | 2.3% | 1.5% | |
Cost of goods sold [+] | 223 | 191 | 258 | 219 | 207 | 206 | 193 | 1,770 |
Food and beverage costs | | | | | | | | 487 |
Occupancy costs | | | | | | | | 454 |
Other direct hotel costs | | | | | | | | 649 |
Real estate or leased property costs | | | | | | | | 180 |
Gross profit | 2,278 | 1,171 | 594 | 2,625 | 2,530 | 2,585 | 2,534 | 918 |
Gross margin | 91.1% | 86.0% | 69.7% | 92.3% | 92.4% | 92.6% | 92.9% | 34.2% |
Selling, general and administrative [+] | 63 | 62 | 63 | 62 | 65 | 68 | 71 | 83 |
General and administrative | 63 | 62 | 63 | 62 | 65 | 68 | 71 | 83 |
Equity in earnings | 15 | -7 | -22 | 14 | 18 | 40 | 3 | 22 |
Other operating expenses | 1,637 | 1,017 | 1,363 | 1,784 | 1,588 | 1,857 | 1,743 | -181 |
EBITDA [+] | 593 | 85 | -854 | 793 | 895 | 700 | 723 | 1,038 |
EBITDA growth | 597.6% | -110.0% | -207.7% | -11.4% | 27.9% | -3.2% | -30.3% | 318.5% |
EBITDA margin | 23.7% | 6.2% | -100.2% | 27.9% | 32.7% | 25.1% | 26.5% | 38.6% |
Depreciation and amortization | 269 | 281 | 298 | 264 | 277 | 288 | 300 | 287 |
EBIT [+] | 324 | -196 | -1,152 | 529 | 618 | 412 | 423 | 751 |
EBIT growth | -265.3% | -83.0% | -317.8% | -14.4% | 50.0% | -2.6% | -43.7% | |
EBIT margin | 13.0% | -14.4% | -135.2% | 18.6% | 22.6% | 14.8% | 15.5% | 27.9% |
Non-recurring items [+] | 13 | -10 | 72 | 89 | 96 | 1 | 1 | 143 |
Asset impairment | | -5 | | | | | | |
Loss (gain) on sale of assets | 13 | -5 | 62 | 19 | 96 | 1 | 1 | 143 |
Interest expense, net [+] | 234 | 257 | 211 | 134 | 121 | 122 | 179 | 185 |
Interest expense | 247 | 258 | 213 | 140 | 127 | 124 | 181 | 186 |
Interest income | 13 | 1 | 2 | 6 | 6 | 2 | 2 | 1 |
Other income (expense), net [+] | 96 | -7 | -15 | 45 | 99 | -4 | -22 | -6 |
Gain (loss) on foreign currency transactions | | | | | | -4 | 3 | |
Other | 96 | -7 | -15 | 45 | 99 | | -25 | -6 |
Pre-tax income | 173 | -450 | -1,450 | 351 | 500 | 285 | 221 | 417 |
Income taxes | 0 | 2 | -6 | 35 | 23 | -2,346 | 82 | 118 |
Tax rate | 0.0% | | 0.4% | 10.0% | 4.6% | | 37.1% | 28.3% |
Minority interest | 11 | 7 | -4 | 10 | 5 | 6 | 6 | 7 |
Net income | 162 | -459 | -1,440 | 306 | 472 | 2,625 | 133 | 292 |
Net margin | 6.5% | -33.7% | -169.0% | 10.8% | 17.2% | 94.1% | 4.9% | 10.9% |
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Basic EPS [+] | $0.71 | ($1.94) | ($6.10) | $1.44 | $2.33 | $12.44 | $0.67 | $1.47 |
Growth | -136.5% | -68.1% | -522.7% | -37.9% | -81.3% | 1752.1% | -54.5% | |
Diluted EPS [+] | $0.71 | ($1.94) | ($6.10) | $1.44 | $2.31 | $12.27 | $0.67 | $1.47 |
Growth | -136.5% | -68.1% | -524.7% | -37.9% | -81.1% | 1726.1% | -54.5% | |
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Dividends per share [+] | $0.28 | | $0.45 | $1.90 | $1.99 | $1.84 | | $0.41 |
Growth | | -100.0% | -76.3% | -4.5% | 8.2% | | -100.0% | |
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Shares outstanding (basic) [+] | 228 | 236 | 236 | 212 | 203 | 211 | 198 | 198 |
Growth | -3.4% | 0.0% | 11.3% | 4.4% | -3.8% | 6.6% | 0.0% | |
Shares outstanding (diluted) [+] | 228 | 236 | 236 | 213 | 204 | 214 | 198 | 198 |
Growth | -3.4% | 0.0% | 10.8% | 4.4% | -4.7% | 8.1% | 0.0% | |
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EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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