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RELATED PARTY TRANSACTIONS
 12 Months Ended
Dec. 31, 2021
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS
Equity Method Investments
We have equity method investments in entities that own or lease properties for which we provide management services and receive fees. In addition, in some cases we provide loans, preferred equity, or guarantees to these entities.
The following table presents Income Statement data resulting from transactions with these related parties. This table does not include our Financial Statement captions with insignificant related party activity.
($ in millions)202120202019
Cost reimbursement revenue$104 $107 $233 
Reimbursed expenses(105)(110)(236)
Equity in (losses) earnings(24)(141)13 
Summarized Financial Information for Investees
The following tables present summarized financial information for the entities in which we have equity method investments:
($ in millions)202120202019
Sales$283 $259 $815 
Net (loss) income(37)(212)80 
($ in millions)At Year-End 2021At Year-End 2020
Total Assets (primarily composed of hotel real estate managed by us)$1,229 $2,348 
Total Liabilities865 1,623 
The carrying amount of our equity method investments was $387 million at year-end 2021 and $422 million at year-end 2020. This value exceeded our share of the book value of the investees’ net assets by $257 million at year-end 2021 and $294 million at year-end 2020, primarily due to the value that we assigned to land, contracts, and buildings owned by the investees.
In 2020, we recorded impairment charges of $77 million in the “Equity in (losses) earnings” caption of our Income Statements to reduce the carrying amount of certain investments, primarily due to the impact of COVID-19, most of which we recorded in our U.S. & Canada business segment.
Other Related Parties
We earned management fees of approximately $6 million in 2021, $3 million in 2020, and $12 million in 2019, plus reimbursement of certain expenses, from our operation of properties in which JWM Family Enterprises, L.P., which is beneficially owned and controlled by J.W. Marriott, Jr., Deborah Marriott Harrison, David S. Marriott, and other members of the Marriott family, indirectly holds varying percentages of ownership. We earned gross fee revenues of approximately $1 million in 2021, plus reimbursement of certain expenses, and no revenues in 2020 and 2019 from managed and franchised properties in which other members of the Marriott family hold varying interests.