MARRIOTT INTERNATIONAL INC MD

For the period ended Dec 31, 2023. Filed Feb 13, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 13, 2024

MAR$428.26+2.7%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Income

(in millions, except per share amounts)

	2023	2022	2021
REVENUES
Base management fees	$1,238	$1,044	$669
Franchise fees	2,831	2,505	1,790
Incentive management fees	755	529	235
Gross fee revenues	4,824	4,078	2,694
Contract investment amortization	(88)	(89)	(75)
Net fee revenues	4,736	3,989	2,619
Owned, leased, and other revenue	1,564	1,367	796
Cost reimbursement revenue (1)	17,413	15,417	10,442
	23,713	20,773	13,857
OPERATING COSTS AND EXPENSES
Owned, leased, and other - direct	1,165	1,074	734
Depreciation, amortization, and other	189	193	220
General, administrative, and other	1,011	891	823
Merger-related charges and other	60	12	8
Reimbursed expenses (1)	17,424	15,141	10,322
	19,849	17,311	12,107
OPERATING INCOME	3,864	3,462	1,750
Gains and other income, net	40	11	10
Loss on extinguishment of debt	—	—	(164)
Interest expense	(565)	(403)	(420)
Interest income	30	26	28
Equity in earnings (losses) (1)	9	18	(24)
INCOME BEFORE INCOME TAXES	3,378	3,114	1,180
Provision for income taxes	(295)	(756)	(81)
NET INCOME	$3,083	$2,358	$1,099
EARNINGS PER SHARE
Earnings per share – basic	$10.23	$7.27	$3.36
Earnings per share – diluted	$10.18	$7.24	$3.34

(1)See Note 15 for disclosure of related party amounts.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.