XML 13 R2.htm IDEA: XBRL DOCUMENT v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
REVENUES        
Revenue $ 6,489 $ 6,255 $ 19,496 $ 18,671
OPERATING COSTS AND EXPENSES        
Depreciation, amortization, and other 50 45 154 137
General, administrative, and other 234 276 724 785
Restructuring and merger-related (recoveries) charges, and other (40) 9 (31) 25
Costs and expenses 5,309 5,311 16,132 15,656
OPERATING INCOME 1,180 944 3,364 3,015
Gains and other income, net 3 7 6 15
Interest expense (206) (179) (601) (515)
Interest income 12 11 33 30
Equity in earnings 5 3 10 8
INCOME BEFORE INCOME TAXES 994 786 2,812 2,553
Provision for income taxes (266) (202) (656) (633)
NET INCOME $ 728 $ 584 $ 2,156 $ 1,920
EARNINGS PER SHARE        
Earnings per share - basic (in USD per share) $ 2.68 $ 2.08 $ 7.86 $ 6.71
Earnings per share - diluted (in USD per share) $ 2.67 $ 2.07 $ 7.84 $ 6.69
Net fee revenues        
REVENUES        
Gross fee revenues $ 1,338 $ 1,283 $ 4,013 $ 3,836
Contract investment amortization (29) (26) (86) (76)
Revenue 1,309 1,257 3,927 3,760
Base management fees        
REVENUES        
Gross fee revenues 314 312 979 955
Franchise fees        
REVENUES        
Gross fee revenues 876 812 2,482 2,318
Incentive management fees        
REVENUES        
Gross fee revenues 148 159 552 563
Owned, leased, and other revenue        
REVENUES        
Revenue 420 381 1,222 1,133
OPERATING COSTS AND EXPENSES        
Operating costs 326 300 950 882
Reimbursements        
REVENUES        
Revenue 4,760 4,617 14,347 13,778
OPERATING COSTS AND EXPENSES        
Operating costs $ 4,739 $ 4,681 $ 14,335 $ 13,827