MARRIOTT INTERNATIONAL INC MD
For the period ended Sep 30, 2024. Filed Nov 4, 2024.
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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.
Sep 30, 2024 · Filed Nov 4, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended | ||
|---|---|---|
| September 30, 2024 | September 30, 2023 | |
| OPERATING ACTIVITIES | ||
| Net income | $1,920 | $2,235 |
| Adjustments to reconcile to cash provided by operating activities: | ||
| Depreciation, amortization, and other | 213 | 204 |
| Stock-based compensation | 173 | 147 |
| Income taxes | (96) | (107) |
| Liability for guest loyalty program | 365 | 109 |
| Contract acquisition costs | (256) | (134) |
| Restructuring and merger-related charges | 24 | 42 |
| Working capital changes | (162) | (141) |
| Other | 250 | 64 |
| Net cash provided by operating activities | 2,431 | 2,419 |
| INVESTING ACTIVITIES | ||
| Capital and technology expenditures | (408) | (318) |
| Asset acquisition | — | (102) |
| Dispositions | 4 | 61 |
| Loan advances | (10) | (77) |
| Loan collections | 10 | 35 |
| Other | 15 | 38 |
| Net cash used in investing activities | (389) | (363) |
| FINANCING ACTIVITIES | ||
| Commercial paper/Credit Facility, net | (648) | 100 |
| Issuance of long-term debt | 2,948 | 1,918 |
| Repayment of long-term debt | (556) | (332) |
| Issuance of Class A Common Stock | 73 | 29 |
| Dividends paid | (506) | (435) |
| Purchase of treasury stock | (3,176) | (2,988) |
| Stock-based compensation withholding taxes | (127) | (105) |
| Other | — | (25) |
| Net cash used in financing activities | (1,992) | (1,838) |
| INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | 50 | 218 |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period (1) | 366 | 525 |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period (1) | $416 | $743 |
(1)The 2024 amounts include beginning restricted cash of $28 million at December 31, 2023, and ending restricted cash of $22 million at September 30, 2024, which we present in the “Prepaid expenses and other” and “Other noncurrent assets” captions of our Balance Sheets.
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