MARRIOTT INTERNATIONAL INC /MD/
For the period ended Mar 31, 2026. Filed May 6, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Income
(in millions, except per share amounts)
| Three Months Ended | ||
|---|---|---|
| March 31, 2026 | March 31, 2025 | |
| REVENUES | ||
| Franchise fees | $872 | $746 |
| Base management fees | 339 | 325 |
| Incentive management fees | 222 | 204 |
| Gross fee revenues | 1,433 | 1,275 |
| Contract investment amortization | (35) | (28) |
| Net fee revenues | 1,398 | 1,247 |
| Owned, leased, and other revenue | 412 | 361 |
| Cost reimbursement revenue | 4,844 | 4,655 |
| 6,654 | 6,263 | |
| OPERATING COSTS AND EXPENSES | ||
| Owned, leased, and other expense (1) | 377 | 332 |
| Depreciation, amortization, and other | 54 | 51 |
| General and administrative (1) | 219 | 209 |
| Restructuring and merger-related charges, and other | 4 | 1 |
| Reimbursed expenses | 4,936 | 4,722 |
| 5,590 | 5,315 | |
| OPERATING INCOME | 1,064 | 948 |
| Gains (losses) and other income, net | 3 | (2) |
| Interest expense | (214) | (192) |
| Interest income | 10 | 9 |
| Equity in (losses) earnings | (5) | 1 |
| INCOME BEFORE INCOME TAXES | 858 | 764 |
| Provision for income taxes | (210) | (99) |
| NET INCOME | $648 | $665 |
| EARNINGS PER SHARE | ||
| Earnings per share – basic | $2.44 | $2.40 |
| Earnings per share – diluted | $2.43 | $2.39 |
(1)The 2025 first quarter reflects the reclassification of $36 million of other expenses previously reported under the “General, administrative, and other” caption to the “Owned, leased, and other expense” caption of our Income Statements to conform to our current presentation.
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