|
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Millions, except Per Share data, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2015
|
Mar. 31, 2014
|
|
| REVENUES | ||
| Base management fees | $ 165 | $ 155 |
| Franchise fees | 204 | 163 |
| Incentive management fees | 89 | 71 |
| Owned, leased, and other revenue | 257 | 234 |
| Cost reimbursements | 2,798 | 2,670 |
| Revenues | 3,513 | 3,293 |
| OPERATING COSTS AND EXPENSES | ||
| Owned, leased, and other-direct | 194 | 185 |
| Reimbursed costs | 2,798 | 2,670 |
| Depreciation, amortization, and other | 44 | 36 |
| General, administrative, and other | 145 | 148 |
| Costs and Expenses, Total | 3,181 | 3,039 |
| OPERATING INCOME | 332 | 254 |
| Gains and other income | 0 | 0 |
| Interest expense | (36) | (30) |
| Interest income | 8 | 5 |
| Equity in earnings | 3 | 2 |
| INCOME BEFORE INCOME TAXES | 307 | 231 |
| Provision for income taxes | (100) | (59) |
| NET INCOME | $ 207 | $ 172 |
| EARNINGS PER SHARE | ||
| Earnings per share - basic (in USD per share) | $ 0.75 | $ 0.58 |
| Earnings per share - diluted (in USD per share) | $ 0.73 | $ 0.57 |
| CASH DIVIDENDS DECLARED PER SHARE (in USD per share) | $ 0.20 | $ 0.17000 |