Marriott International (MAR) 10-Q 2 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Oct. 26, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	1-13881
Entity Registrant Name	MARRIOTT INTERNATIONAL INC /MD/
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	52-2055918
Entity Address, Address Line One	7750 Wisconsin Avenue
Entity Address, City or Town	Bethesda
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20814
City Area Code	301
Local Phone Number	380-3000
Title of 12(b) Security	Class A Common Stock, $0.01 par value
Trading Symbol	MAR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		293,691,348
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001048286
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
REVENUES
Revenue	$ 5,928	$ 5,313	$ 17,618	$ 14,850
OPERATING COSTS AND EXPENSES
Depreciation, amortization, and other	46	50	138	147
General, administrative, and other	239	216	681	655
Merger-related charges and other	13	2	52	11
Costs and expenses	4,829	4,355	14,472	12,384
OPERATING INCOME	1,099	958	3,146	2,466
Gains and other income, net	28	3	33	9
Interest expense	(146)	(100)	(412)	(288)
Interest income	7	7	21	18
Equity in earnings	1	1	9	18
INCOME BEFORE INCOME TAXES	989	869	2,797	2,223
Provision for income taxes	(237)	(239)	(562)	(538)
NET INCOME	$ 752	$ 630	$ 2,235	$ 1,685
EARNINGS PER SHARE
Earnings per share - basic (in USD per share)	$ 2.52	$ 1.94	$ 7.36	$ 5.15
Earnings per share - diluted (in USD per share)	$ 2.51	$ 1.94	$ 7.32	$ 5.13
Fee revenues
REVENUES
Gross fee revenues	$ 1,197	$ 1,059	$ 3,580	$ 2,947
Contract investment amortization	(23)	(22)	(66)	(65)
Revenue	1,174	1,037	3,514	2,882
Base management fees
REVENUES
Gross fee revenues	306	275	917	757
Franchise fees
REVENUES
Gross fee revenues	748	678	2,126	1,847
Incentive management fees
REVENUES
Gross fee revenues	143	106	537	343
Owned, leased and other
REVENUES
Revenue	363	345	1,109	971
OPERATING COSTS AND EXPENSES
Operating costs	293	301	861	779
Reimbursements
REVENUES
Revenue	4,391	3,931	12,995	10,997
OPERATING COSTS AND EXPENSES
Operating costs	$ 4,238	$ 3,786	$ 12,740	$ 10,792

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 752	$ 630	$ 2,235	$ 1,685
Other comprehensive income (loss)
Foreign currency translation adjustments	(139)	(340)	(132)	(653)
Other adjustments, net of tax	6	1	12	5
Total other comprehensive income (loss), net of tax	(133)	(339)	(120)	(648)
Comprehensive income	$ 619	$ 291	$ 2,115	$ 1,037

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Current assets
Cash and equivalents	$ 717	$ 507
Accounts and notes receivable, net	2,703	2,571
Prepaid expenses and other	262	235
Assets, current, total	3,682	3,313
Property and equipment, net	1,572	1,585
Intangible assets
Goodwill	8,795	8,872
Goodwill and intangible assets, net, total	17,788	17,619
Equity method investments	311	335
Notes receivable, net	159	152
Deferred tax assets	240	240
Operating lease assets	937	987
Other noncurrent assets	578	584
Total assets	25,267	24,815
Current liabilities
Current portion of long-term debt	898	684
Accounts payable	696	746
Accrued payroll and benefits	1,229	1,299
Accrued expenses and other	1,487	1,296
Liabilities, current, total	7,677	7,339
Long-term debt	10,870	9,380
Deferred tax liabilities	359	313
Operating lease liabilities	966	1,034
Other noncurrent liabilities	1,622	1,842
Stockholders’ equity
Class A Common Stock	5	5
Additional paid-in-capital	5,996	5,965
Retained earnings	14,142	12,342
Treasury stock, at cost	(19,955)	(17,015)
Accumulated other comprehensive loss	(849)	(729)
Stockholders’ equity	(661)	568
Liabilities and equity, total	25,267	24,815
Brands
Intangible assets
Intangible assets	5,832	5,812
Contract acquisition costs and other
Intangible assets
Intangible assets	3,161	2,935
Liability for guest loyalty program
Current liabilities
Liability for guest loyalty program	3,367	3,314
Contract with customer liabilities	3,427	3,280
Deferred revenue
Current liabilities
Contract with customer liabilities	$ 1,007	$ 1,059

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022
OPERATING ACTIVITIES
Net income		$ 2,235	$ 1,685
Adjustments to reconcile to cash provided by operating activities:
Depreciation, amortization, and other		204	212
Stock-based compensation		147	144
Income taxes		(107)	197
Contract acquisition costs		(134)	(92)
Merger-related charges and other		42	(1)
Working capital changes		(141)	(225)
Other		64	19
Net cash provided by operating activities		2,419	1,922
INVESTING ACTIVITIES
Capital and technology expenditures		(318)	(192)
Asset acquisition		(102)	0
Dispositions		61	0
Loan advances		(77)	(10)
Loan collections		35	12
Other		38	53
Net cash used in investing activities		(363)	(137)
FINANCING ACTIVITIES
Commercial paper/Credit Facility, net		100	(1,050)
Issuance of long-term debt		1,918	983
Repayment of long-term debt		(332)	(578)
Issuance of Class A Common Stock		29	0
Dividends paid		(435)	(195)
Purchase of treasury stock		(2,988)	(1,235)
Stock-based compensation withholding taxes		(105)	(88)
Other		(25)	25
Net cash used in financing activities		(1,838)	(2,138)
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH		218	(353)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period	[1]	525	1,421
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period	[1]	743	1,068
Loyalty Program
Adjustments to reconcile to cash provided by operating activities:
Liability for guest loyalty program		$ 109	$ (17)
[1]The 2023 amounts include beginning restricted cash of $18 million at December 31, 2022, and ending restricted cash of $26 million at September 30, 2023, which we present in the “Prepaid expenses and other” and “Other noncurrent assets” captions of our Balance Sheets.

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Statement of Cash Flows [Abstract]
Restricted cash	$ 26	$ 18

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The condensed consolidated financial statements present the results of operations, financial position, and cash flows of Marriott International, Inc. and subsidiaries (referred to in this report as “we,” “us,” “Marriott,” or the “Company”). In order to make this report easier to read, we also refer throughout to (1) our Condensed Consolidated Financial Statements as our “Financial Statements,” (2) our Condensed Consolidated Statements of Income as our “Income Statements,” (3) our Condensed Consolidated Balance Sheets as our “Balance Sheets,” (4) our Condensed Consolidated Statements of Cash Flows as our “Statements of Cash Flows,” (5) our properties, brands, or markets in the United States and Canada as “U.S. & Canada,” and (6) our properties, brands, or markets in our Caribbean and Latin America, Europe, Middle East and Africa, Greater China, and Asia Pacific excluding China regions, as “International.” In addition, references throughout to numbered “Notes” refer to these Notes to Condensed Consolidated Financial Statements, unless otherwise stated. These Financial Statements have not been audited. We have condensed or omitted certain information and disclosures normally included in financial statements presented in accordance with U.S. generally accepted accounting principles (“GAAP”). The financial statements in this report should be read in conjunction with the consolidated financial statements and notes thereto in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (“2022 Form 10-K”). Certain terms not otherwise defined in this Form 10-Q have the meanings specified in our 2022 Form 10-K. Preparation of financial statements that conform with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements, the reported amounts of revenues and expenses during the reporting periods, and the disclosures of contingent liabilities. Accordingly, ultimate results could differ from those estimates. The accompanying Financial Statements reflect all normal and recurring adjustments necessary to present fairly our financial position as of September 30, 2023 and December 31, 2022, the results of our operations for the three and nine months ended September 30, 2023 and September 30, 2022, and cash flows for the nine months ended September 30, 2023 and September 30, 2022. Interim results may not be indicative of fiscal year performance because of seasonal and short-term variations. We have eliminated all material intercompany transactions and balances between entities consolidated in these Financial Statements.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE The table below illustrates the reconciliation of the earnings and number of shares used in our calculations of basic and diluted earnings per share, the latter of which uses the treasury stock method to calculate the dilutive effect of the Company’s potential common stock: Three Months Ended Nine Months Ended (in millions, except per share amounts) September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Computation of Basic Earnings Per Share Net income $ 752 $ 630 $ 2,235 $ 1,685 Shares for basic earnings per share 298.6 324.5 303.9 327.0 Basic earnings per share $ 2.52 $ 1.94 $ 7.36 $ 5.15 Computation of Diluted Earnings Per Share Net income $ 752 $ 630 $ 2,235 $ 1,685 Shares for basic earnings per share 298.6 324.5 303.9 327.0 Effect of dilutive securities Stock-based compensation 1.5 1.2 1.4 1.4 Shares for diluted earnings per share 300.1 325.7 305.3 328.4 Diluted earnings per share $ 2.51 $ 1.94 $ 7.32 $ 5.13

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION We granted 1.0 million restricted stock units (“RSUs”) during the 2023 first three quarters to certain officers and employees, and those units vest generally over four years in equal annual installments commencing one year after the grant date. We also granted 0.1 million performance-based RSUs (“PSUs”) in the 2023 first three quarters to certain executives, which are earned subject to continued employment and the satisfaction of certain performance and market conditions based on the degree of achievement of pre-established targets for 2025 adjusted EBITDA performance and relative total stockholder return over the 2023 to 2025 performance period. RSUs, including PSUs, granted in the 2023 first three quarters had a weighted average grant-date fair value of $167 per unit. We recorded stock-based compensation expense for RSUs and PSUs of $47 million in the 2023 third quarter compared to $45 million in the 2022 third quarter, and $129 million in the 2023 first three quarters compared to $136 million in the 2022 first three quarters. Deferred compensation costs for unvested awards for RSUs and PSUs totaled $217 million at September 30, 2023 and $179 million at December 31, 2022.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Our effective tax rate decreased to 23.9 percent for the 2023 third quarter compared to 27.5 percent for the 2022 third quarter, primarily due to the prior year expense from the completion of tax audits and the increase in tax deductions from stock-based compensation, partially offset by the shift in earnings to jurisdictions with higher tax rates. Our effective tax rate decreased to 20.1 percent for the 2023 first three quarters compared to 24.2 percent for the 2022 first three quarters, primarily due to the current year release of tax reserves and the prior year expense from the completion of tax audits, partially offset by the shift in earnings to jurisdictions with higher tax rates. Our unrecognized tax benefit balance decreased by $101 million to $154 million at September 30, 2023 from $255 million at December 31, 2022, primarily due to the completion of a prior year tax audit. Our unrecognized tax benefit balance included $143 million at September 30, 2023 and $241 million at December 31, 2022 of tax positions that, if recognized, would impact our effective tax rate. It is reasonably possible that within the next 12 months we will reach resolution of income tax examinations in one or more jurisdictions. The actual amount of any change to our unrecognized tax benefits could vary depending on the timing and nature of the settlement. Therefore, an estimate of the change cannot be provided. We file income tax returns, including returns for our subsidiaries, in various jurisdictions around the world. The U.S. Internal Revenue Service (“IRS”) has examined our federal income tax returns, and as of September 30, 2023, we have settled all issues for tax years through 2019. Our 2020 through 2023 tax year audits are currently ongoing. Various foreign, state, and local income tax returns are also under examination by the applicable taxing authorities. We paid cash for income taxes, net of refunds, of $669 million in the 2023 first three quarters and $341 million in the 2022 first three quarters.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Guarantees We present the maximum potential amount of our future guarantee fundings and the carrying amount of our liability for our debt service, operating profit, and other guarantees (excluding contingent purchase obligations) for which we are the primary obligor at September 30, 2023 in the following table: (in millions) Guarantee Type Maximum Potential Amount of Future Fundings Recorded Liability for Guarantees Debt service $ 57 $ 6 Operating profit 146 79 Other 18 4 $ 221 $ 89 Our maximum potential guarantees listed in the preceding table include $41 million of operating profit guarantees that will not be in effect until the underlying properties open and we begin to operate the properties or certain other events occur. Contingent Purchase Obligation Sheraton Grand Chicago . In 2017, we granted the owner a one-time right to require us to purchase the leasehold interest in the land and the hotel for $300 million in cash (the “put option”). In the 2021 third quarter, we entered into an amendment with the owner to move the exercise period of the put option from the 2022 first half to the 2024 first half. If the owner exercises the put option, the closing is expected to occur in the 2024 fourth quarter, and we have the option to purchase, at the same time the put transaction closes, the fee simple interest in the underlying land for an additional $200 million in cash. We account for the put option as a guarantee, and our recorded liability was $300 million at September 30, 2023 and December 31, 2022. Starwood Data Security Incident Description of Event On November 30, 2018, we announced a data security incident involving unauthorized access to the Starwood reservations database (the “Data Security Incident”). Working with leading security experts, we determined that there was unauthorized access to the Starwood network since 2014 and that an unauthorized party had copied information from the Starwood reservations database and taken steps towards removing it. We discontinued use of t he Starwood reservations database for business operations at the end of 2018 . Litigation, Claims, and Government Investigations Following our announcement of the Data Security Incident, approximately 100 lawsuits were filed by consumers and others against us in U.S. federal, U.S. state and Canadian courts related to the incident. The plaintiffs in the cases that remain pending, who generally purport to represent various classes of consumers, generally claim to have been harmed by alleged actions and/or omissions by the Company in connection with the Data Security Incident and assert a variety of common law and statutory claims seeking monetary damages, injunctive relief, costs and attorneys’ fees, and other related relief. The active U.S. cases are consolidated in the U.S. District Court for the District of Maryland (the “District Court”), pursuant to orders of the U.S. Judicial Panel on Multidistrict Litigation (the “MDL”). The District Court granted in part and denied in part class certification of various U.S. groups of consumers. In August 2023, the U.S. Court of Appeals for the Fourth Circuit vacated the District Court’s class certification decision because the District Court failed to first consider the effect of a class-action waiver signed by all putative class members. The Fourth Circuit remanded for further proceedings consistent with its opinion. A case brought by the City of Chicago (which is consolidated in the MDL proceeding) also remains pending. The Canadian cases have effectively been consolidated into a single case in the province of Ontario. We dispute the allegations in these lawsuits and are vigorously defending against such claims. In addition, various U.S. federal, U.S. state and foreign governmental authorities made inquiries, opened investigations, or requested information and/or documents related to the Data Security Incident and related matters. Although some of these matters have been resolved or no longer appear to be active, some remain open. We are in discussions with the Attorney General offices from 49 states and the District of Columbia and the Federal Trade Commission. Based on the ongoing discussions, we believe it is probable that we will incur losses, and as of September 30, 2023, we have an accrual for an estimated loss contingency, which is not material to our Financial Statements. While we believe it is reasonably possible that we may incur losses in excess of the amounts recorded associated with the above described MDL proceedings and regulatory investigations related to the Data Security Incident, it is not possible to reasonably estimate the amount of such losses or range of loss that might result from adverse judgments, settlements, fines, penalties or other resolution of these proceedings and investigations based on: (1) in the case of the above described MDL proceedings, the current stage of these proceedings, the absence of specific allegations as to alleged damages, the uncertainty as to the certification of a class or classes and the size of any certified class, and the lack of resolution of significant factual and legal issues; and (2) in the case of the above described regulatory investigations, the lack of resolution with the Federal Trade Commission and the state Attorneys General.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Long-Term Debt	LONG-TERM DEBT We provide detail on our long-term debt balances, net of discounts, premiums, and debt issuance costs, in the following table as of September 30, 2023 and year-end 2022: (in millions) September 30, December 31, Senior Notes: Series P Notes, interest rate of 3.8%, face amount of $350, maturing October 1, 2025 (effective interest rate of 4.0%) $ 348 $ 348 Series R Notes, interest rate of 3.1%, face amount of $750, maturing June 15, 2026 (effective interest rate of 3.3%) 747 747 Series U Notes, interest rate of 3.1%, face amount of $291, matured February 15, 2023 (effective interest rate of 3.1%) — 291 Series V Notes, interest rate of 3.8%, face amount of $318, maturing March 15, 2025 (effective interest rate of 2.8%) 322 324 Series W Notes, interest rate of 4.5%, face amount of $278, maturing October 1, 2034 (effective interest rate of 4.1%) 289 289 Series X Notes, interest rate of 4.0%, face amount of $450, maturing April 15, 2028 (effective interest rate of 4.2%) 446 446 Series Z Notes, interest rate of 4.2%, face amount of $350, maturing December 1, 2023 (effective interest rate of 4.4%) 350 349 Series AA Notes, interest rate of 4.7%, face amount of $300, maturing December 1, 2028 (effective interest rate of 4.8%) 298 298 Series CC Notes, interest rate of 3.6%, face amount of $550, maturing April 15, 2024 (effective interest rate of 3.9%) 540 531 Series EE Notes, interest rate of 5.8%, face amount of $600, maturing May 1, 2025 (effective interest rate of 6.0%) 598 596 Series FF Notes, interest rate of 4.6%, face amount of $1,000, maturing June 15, 2030 (effective interest rate of 4.8%) 989 988 Series GG Notes, interest rate of 3.5%, face amount of $1,000, maturing October 15, 2032 (effective interest rate of 3.7%) 988 987 Series HH Notes, interest rate of 2.9%, face amount of $1,100, maturing April 15, 2031 (effective interest rate of 3.0%) 1,091 1,090 Series II Notes, interest rate of 2.8%, face amount of $700, maturing October 15, 2033 (effective interest rate of 2.8%) 694 694 Series JJ Notes, interest rate of 5.0%, face amount of $1,000, maturing October 15, 2027 (effective interest rate of 5.4%) 986 984 Series KK Notes, interest rate of 4.9%, face amount of $800, maturing April 15, 2029 (effective interest rate of 5.3%) 785 — Series LL Notes, interest rate of 5.5%, face amount of $450, maturing September 15, 2026 (effective interest rate of 5.9%) 444 — Series MM Notes, interest rate of 5.6%, face amount of $700, maturing October 15, 2028 (effective interest rate of 5.9%) 691 — Commercial paper 973 871 Credit Facility — — Finance lease obligations 133 139 Other 56 92 $ 11,768 $ 10,064 Less current portion (898) (684) $ 10,870 $ 9,380 We paid cash for interest, net of amounts capitalized, of $266 million in the 2023 first three quarters and $203 million in the 2022 first three quarters. In September 2023, we issued $450 million aggregate principal amount of 5.45 percent Series LL Notes due September 15, 2026 (the “Series LL Notes”) and $700 million aggregate principal amount of 5.55 percent Series MM Notes due October 15, 2028 (the “Series MM Notes”). We will pay interest on the Series LL Notes in March and September of each year, commencing in March 2024, and we will pay interest on the Series MM Notes in April and October of each year, commencing in April 2024. We received net proceeds of approximately $1.135 billion from the offering of the Series LL Notes and Series MM Notes, after deducting the underwriting discount and estimated expenses, which were made available for general corporate purposes, including working capital, capital expenditures, acquisitions, stock repurchases, or repayment of outstanding indebtedness. In March 2023, we issued $800 million aggregate principal amount of 4.90 percent Series KK Notes due April 15, 2029 (the “Series KK Notes”). We pay interest on the Series KK Notes in April and October of each year, commencing in October 2023. We received net proceeds of approximately $783 million from the offering of the Series KK Notes, after deducting the underwriting discount and expenses, which were made available for general corporate purposes, including working capital, capital expenditures, acquisitions, stock repurchases, or repayment of outstanding indebtedness. We are party to a $4.5 billion multicurrency revolving credit agreement (the “Credit Facility”). Available borrowings under the Credit Facility support our commercial paper program and general corporate needs. Borrowings under the Credit Facility generally bear interest at SOFR (the Secured Overnight Financing Rate) plus a spread based on our public debt rating. We also pay quarterly fees on the Credit Facility at a rate based on our public debt rating. We classify outstanding borrowings under the Credit Facility and outstanding commercial paper borrowings as long-term based on our ability and intent to refinance the outstanding borrowings on a long-term basis. The Credit Facility expires on December 14, 2027.

Acquisition

Acquisition	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisition	ACQUISITIONOn May 1, 2023, we completed the acquisition of the City Express brand portfolio from Hoteles City Express, S.A.B. de C.V. for $100 million. As a result of the transaction, we added 149 properties located in Mexico, Costa Rica, Colombia, and Chile to our franchise portfolio. We accounted for the transaction as an asset acquisition and allocated the cost of the acquisition, including direct and incremental transaction costs, to an indefinite-lived brand asset of approximately $85 million and franchise contract assets, with a weighted-average term of 20 years, totaling $21 million.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS We believe that the fair values of our current assets and current liabilities approximate their reported carrying amounts. We present the carrying amounts and the fair values of noncurrent financial assets and liabilities that qualify as financial instruments in the following table: September 30, 2023 December 31, 2022 (in millions) Carrying Amount Fair Value Carrying Amount Fair Value Senior, mezzanine, and other loans $ 159 $ 147 $ 152 $ 142 Total noncurrent financial assets $ 159 $ 147 $ 152 $ 142 Senior Notes $ (9,716) $ (8,920) $ (8,322) $ (7,627) Commercial paper (973) (973) (871) (871) Other long-term debt (56) (50) (56) (49) Other noncurrent liabilities (371) (371) (394) (394) Total noncurrent financial liabilities $ (11,116) $ (10,314) $ (9,643) $ (8,941) See Note 12. Fair Value of Financial Instruments and the “Fair Value Measurements” caption of Note 2. Summary of Significant Accounting Policies of our 2022 Form 10-K for more information on the input levels we use in determining fair value.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss and Stockholders' Equity	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Accumulated Other Comprehensive Loss and Stockholders' Equity	ACCUMULATED OTHER COMPREHENSIVE LOSS AND STOCKHOLDERS’ EQUITY The following tables detail the accumulated other comprehensive loss activity for the 2023 first three quarters and 2022 first three quarters: (in millions) Foreign Currency Translation Adjustments Other Adjustments Accumulated Other Comprehensive Loss Balance at year-end 2022 $ (740) $ 11 $ (729) Other comprehensive (loss) income before reclassifications (1) (129) 11 (118) Reclassification adjustments (3) 1 (2) Net other comprehensive (loss) income (132) 12 (120) Balance at September 30, 2023 $ (872) $ 23 $ (849) (in millions) Foreign Currency Translation Adjustments Other Adjustments Accumulated Other Comprehensive Loss Balance at year-end 2021 $ (351) $ 9 $ (342) Other comprehensive (loss) income before reclassifications (1) (653) 9 (644) Reclassification adjustments — (4) (4) Net other comprehensive (loss) income (653) 5 (648) Balance at September 30, 2022 $ (1,004) $ 14 $ (990) (1) Other comprehensive loss before reclassifications for foreign currency translation adjustments includes intra-entity foreign currency transactions that are of a long-term investment nature, which resulted in losses of $1 million for the 2023 first three quarters and gains of $76 million for the 2022 first three quarters. The following tables detail the changes in common shares outstanding and stockholders’ equity for the 2023 first three quarters and 2022 first three quarters: (in millions, except per share amounts) Common Total Class A Common Stock Additional Paid-in-Capital Retained Earnings Treasury Stock, at Cost Accumulated Other Comprehensive Loss 310.6 Balance at year-end 2022 $ 568 $ 5 $ 5,965 $ 12,342 $ (17,015) $ (729) — Net income 757 — — 757 — — — Other comprehensive income 82 — — — — 82 — Dividends ($0.40 per share) (124) — — (124) — — 0.9 Stock-based compensation plans (34) — (59) — 25 — (6.8) Purchase of treasury stock (1,109) — — — (1,109) — 304.7 Balance at March 31, 2023 $ 140 $ 5 $ 5,906 $ 12,975 $ (18,099) $ (647) — Net income 726 — — 726 — — — Other comprehensive loss (69) — — — — (69) — Dividends ($0.52 per share) (157) — — (157) — — 0.1 Stock-based compensation plans 48 — 46 — 2 — (5.2) Purchase of treasury stock (912) — — — (912) — 299.6 Balance at June 30, 2023 $ (224) $ 5 $ 5,952 $ 13,544 $ (19,009) $ (716) — Net income 752 — — 752 — — — Other comprehensive loss (133) — — — — (133) — Dividends ($0.52 per share) (154) — — (154) — — 0.4 Stock-based compensation plans 56 — 44 — 12 — (4.8) Purchase of treasury stock (958) — — — (958) — 295.2 Balance at September 30, 2023 $ (661) $ 5 $ 5,996 $ 14,142 $ (19,955) $ (849) Common Total Class A Common Stock Additional Paid-in-Capital Retained Earnings Treasury Stock, at Cost Accumulated Other Comprehensive Loss 326.3 Balance at year-end 2021 $ 1,414 $ 5 $ 5,892 $ 10,305 $ (14,446) $ (342) — Net income 377 — — 377 — — — Other comprehensive income 14 — — — — 14 1.0 Stock-based compensation plans (33) — (61) — 28 — 327.3 Balance at March 31, 2022 $ 1,772 $ 5 $ 5,831 $ 10,682 $ (14,418) $ (328) — Net income 678 — — 678 — — — Other comprehensive loss (323) — — — — (323) — Dividends ($0.30 per share) (98) — — (98) — — — Stock-based compensation plans 43 — 41 — 2 — (1.9) Purchase of treasury stock (300) — — — (300) — 325.4 Balance at June 30, 2022 $ 1,772 $ 5 $ 5,872 $ 11,262 $ (14,716) $ (651) — Net income 630 — 630 — — — Other comprehensive loss (339) — — — — (339) — Dividends ($0.30 per share) (97) — — (97) — — 0.1 Stock-based compensation plans 47 — 47 — — — (6.2) Purchase of treasury stock (950) — — — (950) — 319.3 Balance at September 30, 2022 $ 1,063 $ 5 $ 5,919 $ 11,795 $ (15,666) $ (990)

Contracts with Customers

Contracts with Customers	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Contracts with Customers	CONTRACTS WITH CUSTOMERS Our current and noncurrent liability for guest loyalty program increased by $200 million, to $6,794 million at September 30, 2023, from $6,594 million at December 31, 2022, primarily reflecting an increase in points earned by members. This includes a $91 million reclassification from deferred revenue to the liability for guest loyalty program primarily due to points that were earned during the period by members using our U.S.-issued co-branded credit cards, which were prepaid by the financial institutions in 2020. The increase was partially offset by $2,325 million of revenue recognized in the 2023 first three quarters, that was deferred as of December 31, 2022. Our current and noncurrent deferred revenue decreased by $113 million, to $1,218 million at September 30, 2023, from $1,331 million at December 31, 2022, primarily as a result of $213 million of revenue recognized in the 2023 first three quarters that was deferred as of December 31, 2022, as well as the reclassification from deferred revenue to the liability for guest loyalty program, which we discuss above . The decrease was partially offset by revenue deferred in the 2023 first three quarters related to our co-branded credit cards, gift cards, franchise application and relicensing fees, and certain centralized programs and services fees. Our allowance for credit losses decreased to $189 million at September 30, 2023 from $191 million at December 31, 2022.

Business Segments

Business Segments	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Business Segments	BUSINESS SEGMENTS We discuss our operations in the following two operating segments, both of which meet the applicable accounting criteria for separate disclosure as a reportable business segment: (1) U.S. & Canada and (2) International. We evaluate the performance of our operating segments using “segment profits,” which is based largely on the results of the segment without allocating corporate expenses, income taxes, indirect general, administrative, and other expenses, or merger-related costs. We assign gains and losses, equity in earnings or losses, and direct general, administrative, and other expenses to each of our segments. “Unallocated corporate and other” includes a portion of our revenues (such as fees we receive from our credit card programs and vacation ownership licensing agreements), revenues and expenses for our Loyalty Program, general, administrative, and other expenses, merger-related charges and other expenses, equity in earnings or losses, and other gains or losses that we do not allocate to our segments. Our chief operating decision maker monitors assets for the consolidated Company but does not use assets by operating segment when assessing performance or making operating segment resource allocations. Segment Revenues The following tables present our revenues disaggregated by segment and major revenue stream for the 2023 third quarter, 2022 third quarter, 2023 first three quarters, and 2022 first three quarters: Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 (in millions) U.S. & Canada International Total U.S. & Canada International Total Gross fee revenues $ 690 $ 319 $ 1,009 $ 649 $ 241 $ 890 Contract investment amortization (16) (6) (22) (16) (6) (22) Net fee revenues 674 313 987 633 235 868 Owned, leased, and other revenue 94 235 329 114 205 319 Cost reimbursement revenue 3,565 577 4,142 3,253 468 3,721 Total reportable segment revenue $ 4,333 $ 1,125 $ 5,458 $ 4,000 $ 908 $ 4,908 Unallocated corporate and other 470 405 Total revenue $ 5,928 $ 5,313 Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 (in millions) U.S. & Canada International Total U.S. & Canada International Total Gross fee revenues $ 2,113 $ 924 $ 3,037 $ 1,821 $ 630 $ 2,451 Contract investment amortization (49) (16) (65) (45) (20) (65) Net fee revenues 2,064 908 2,972 1,776 610 2,386 Owned, leased, and other revenue 327 691 1,018 330 575 905 Cost reimbursement revenue 10,722 1,658 12,380 9,282 1,273 10,555 Total reportable segment revenue $ 13,113 $ 3,257 $ 16,370 $ 11,388 $ 2,458 $ 13,846 Unallocated corporate and other 1,248 1,004 Total revenue $ 17,618 $ 14,850 Segment Profits Three Months Ended Nine Months Ended (in millions) September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 U.S. & Canada $ 707 $ 652 $ 2,120 $ 1,833 International 318 227 865 568 Unallocated corporate and other 103 83 203 92 Interest expense, net of interest income (139) (93) (391) (270) Provision for income taxes (237) (239) (562) (538) Net income $ 752 $ 630 $ 2,235 $ 1,685

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income	$ 752	$ 726	$ 757	$ 630	$ 678	$ 377	$ 2,235	$ 1,685

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Reconciliation of the Earnings and Number of Shares Used in Calculations of Basic and Diluted Earnings Per Share	The table below illustrates the reconciliation of the earnings and number of shares used in our calculations of basic and diluted earnings per share, the latter of which uses the treasury stock method to calculate the dilutive effect of the Company’s potential common stock: Three Months Ended Nine Months Ended (in millions, except per share amounts) September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Computation of Basic Earnings Per Share Net income $ 752 $ 630 $ 2,235 $ 1,685 Shares for basic earnings per share 298.6 324.5 303.9 327.0 Basic earnings per share $ 2.52 $ 1.94 $ 7.36 $ 5.15 Computation of Diluted Earnings Per Share Net income $ 752 $ 630 $ 2,235 $ 1,685 Shares for basic earnings per share 298.6 324.5 303.9 327.0 Effect of dilutive securities Stock-based compensation 1.5 1.2 1.4 1.4 Shares for diluted earnings per share 300.1 325.7 305.3 328.4 Diluted earnings per share $ 2.51 $ 1.94 $ 7.32 $ 5.13

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Maximum Potential Amount of Future Fundings as the Primary Obligor for Guarantees and the Liability for Expected Future Fundings	We present the maximum potential amount of our future guarantee fundings and the carrying amount of our liability for our debt service, operating profit, and other guarantees (excluding contingent purchase obligations) for which we are the primary obligor at September 30, 2023 in the following table: (in millions) Guarantee Type Maximum Potential Amount of Future Fundings Recorded Liability for Guarantees Debt service $ 57 $ 6 Operating profit 146 79 Other 18 4 $ 221 $ 89

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Long-Term Debt	We provide detail on our long-term debt balances, net of discounts, premiums, and debt issuance costs, in the following table as of September 30, 2023 and year-end 2022: (in millions) September 30, December 31, Senior Notes: Series P Notes, interest rate of 3.8%, face amount of $350, maturing October 1, 2025 (effective interest rate of 4.0%) $ 348 $ 348 Series R Notes, interest rate of 3.1%, face amount of $750, maturing June 15, 2026 (effective interest rate of 3.3%) 747 747 Series U Notes, interest rate of 3.1%, face amount of $291, matured February 15, 2023 (effective interest rate of 3.1%) — 291 Series V Notes, interest rate of 3.8%, face amount of $318, maturing March 15, 2025 (effective interest rate of 2.8%) 322 324 Series W Notes, interest rate of 4.5%, face amount of $278, maturing October 1, 2034 (effective interest rate of 4.1%) 289 289 Series X Notes, interest rate of 4.0%, face amount of $450, maturing April 15, 2028 (effective interest rate of 4.2%) 446 446 Series Z Notes, interest rate of 4.2%, face amount of $350, maturing December 1, 2023 (effective interest rate of 4.4%) 350 349 Series AA Notes, interest rate of 4.7%, face amount of $300, maturing December 1, 2028 (effective interest rate of 4.8%) 298 298 Series CC Notes, interest rate of 3.6%, face amount of $550, maturing April 15, 2024 (effective interest rate of 3.9%) 540 531 Series EE Notes, interest rate of 5.8%, face amount of $600, maturing May 1, 2025 (effective interest rate of 6.0%) 598 596 Series FF Notes, interest rate of 4.6%, face amount of $1,000, maturing June 15, 2030 (effective interest rate of 4.8%) 989 988 Series GG Notes, interest rate of 3.5%, face amount of $1,000, maturing October 15, 2032 (effective interest rate of 3.7%) 988 987 Series HH Notes, interest rate of 2.9%, face amount of $1,100, maturing April 15, 2031 (effective interest rate of 3.0%) 1,091 1,090 Series II Notes, interest rate of 2.8%, face amount of $700, maturing October 15, 2033 (effective interest rate of 2.8%) 694 694 Series JJ Notes, interest rate of 5.0%, face amount of $1,000, maturing October 15, 2027 (effective interest rate of 5.4%) 986 984 Series KK Notes, interest rate of 4.9%, face amount of $800, maturing April 15, 2029 (effective interest rate of 5.3%) 785 — Series LL Notes, interest rate of 5.5%, face amount of $450, maturing September 15, 2026 (effective interest rate of 5.9%) 444 — Series MM Notes, interest rate of 5.6%, face amount of $700, maturing October 15, 2028 (effective interest rate of 5.9%) 691 — Commercial paper 973 871 Credit Facility — — Finance lease obligations 133 139 Other 56 92 $ 11,768 $ 10,064 Less current portion (898) (684) $ 10,870 $ 9,380

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Carrying Values and Fair Values of Non-Current Financial Assets and Liabilities	We present the carrying amounts and the fair values of noncurrent financial assets and liabilities that qualify as financial instruments in the following table: September 30, 2023 December 31, 2022 (in millions) Carrying Amount Fair Value Carrying Amount Fair Value Senior, mezzanine, and other loans $ 159 $ 147 $ 152 $ 142 Total noncurrent financial assets $ 159 $ 147 $ 152 $ 142 Senior Notes $ (9,716) $ (8,920) $ (8,322) $ (7,627) Commercial paper (973) (973) (871) (871) Other long-term debt (56) (50) (56) (49) Other noncurrent liabilities (371) (371) (394) (394) Total noncurrent financial liabilities $ (11,116) $ (10,314) $ (9,643) $ (8,941)

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss and Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Accumulated Other Comprehensive Loss Activity	The following tables detail the accumulated other comprehensive loss activity for the 2023 first three quarters and 2022 first three quarters: (in millions) Foreign Currency Translation Adjustments Other Adjustments Accumulated Other Comprehensive Loss Balance at year-end 2022 $ (740) $ 11 $ (729) Other comprehensive (loss) income before reclassifications (1) (129) 11 (118) Reclassification adjustments (3) 1 (2) Net other comprehensive (loss) income (132) 12 (120) Balance at September 30, 2023 $ (872) $ 23 $ (849) (in millions) Foreign Currency Translation Adjustments Other Adjustments Accumulated Other Comprehensive Loss Balance at year-end 2021 $ (351) $ 9 $ (342) Other comprehensive (loss) income before reclassifications (1) (653) 9 (644) Reclassification adjustments — (4) (4) Net other comprehensive (loss) income (653) 5 (648) Balance at September 30, 2022 $ (1,004) $ 14 $ (990) (1) Other comprehensive loss before reclassifications for foreign currency translation adjustments includes intra-entity foreign currency transactions that are of a long-term investment nature, which resulted in losses of $1 million for the 2023 first three quarters and gains of $76 million for the 2022 first three quarters.
Changes in Shareholders' Equity	The following tables detail the changes in common shares outstanding and stockholders’ equity for the 2023 first three quarters and 2022 first three quarters: (in millions, except per share amounts) Common Total Class A Common Stock Additional Paid-in-Capital Retained Earnings Treasury Stock, at Cost Accumulated Other Comprehensive Loss 310.6 Balance at year-end 2022 $ 568 $ 5 $ 5,965 $ 12,342 $ (17,015) $ (729) — Net income 757 — — 757 — — — Other comprehensive income 82 — — — — 82 — Dividends ($0.40 per share) (124) — — (124) — — 0.9 Stock-based compensation plans (34) — (59) — 25 — (6.8) Purchase of treasury stock (1,109) — — — (1,109) — 304.7 Balance at March 31, 2023 $ 140 $ 5 $ 5,906 $ 12,975 $ (18,099) $ (647) — Net income 726 — — 726 — — — Other comprehensive loss (69) — — — — (69) — Dividends ($0.52 per share) (157) — — (157) — — 0.1 Stock-based compensation plans 48 — 46 — 2 — (5.2) Purchase of treasury stock (912) — — — (912) — 299.6 Balance at June 30, 2023 $ (224) $ 5 $ 5,952 $ 13,544 $ (19,009) $ (716) — Net income 752 — — 752 — — — Other comprehensive loss (133) — — — — (133) — Dividends ($0.52 per share) (154) — — (154) — — 0.4 Stock-based compensation plans 56 — 44 — 12 — (4.8) Purchase of treasury stock (958) — — — (958) — 295.2 Balance at September 30, 2023 $ (661) $ 5 $ 5,996 $ 14,142 $ (19,955) $ (849) Common Total Class A Common Stock Additional Paid-in-Capital Retained Earnings Treasury Stock, at Cost Accumulated Other Comprehensive Loss 326.3 Balance at year-end 2021 $ 1,414 $ 5 $ 5,892 $ 10,305 $ (14,446) $ (342) — Net income 377 — — 377 — — — Other comprehensive income 14 — — — — 14 1.0 Stock-based compensation plans (33) — (61) — 28 — 327.3 Balance at March 31, 2022 $ 1,772 $ 5 $ 5,831 $ 10,682 $ (14,418) $ (328) — Net income 678 — — 678 — — — Other comprehensive loss (323) — — — — (323) — Dividends ($0.30 per share) (98) — — (98) — — — Stock-based compensation plans 43 — 41 — 2 — (1.9) Purchase of treasury stock (300) — — — (300) — 325.4 Balance at June 30, 2022 $ 1,772 $ 5 $ 5,872 $ 11,262 $ (14,716) $ (651) — Net income 630 — 630 — — — Other comprehensive loss (339) — — — — (339) — Dividends ($0.30 per share) (97) — — (97) — — 0.1 Stock-based compensation plans 47 — 47 — — — (6.2) Purchase of treasury stock (950) — — — (950) — 319.3 Balance at September 30, 2022 $ 1,063 $ 5 $ 5,919 $ 11,795 $ (15,666) $ (990)

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Revenues	The following tables present our revenues disaggregated by segment and major revenue stream for the 2023 third quarter, 2022 third quarter, 2023 first three quarters, and 2022 first three quarters: Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 (in millions) U.S. & Canada International Total U.S. & Canada International Total Gross fee revenues $ 690 $ 319 $ 1,009 $ 649 $ 241 $ 890 Contract investment amortization (16) (6) (22) (16) (6) (22) Net fee revenues 674 313 987 633 235 868 Owned, leased, and other revenue 94 235 329 114 205 319 Cost reimbursement revenue 3,565 577 4,142 3,253 468 3,721 Total reportable segment revenue $ 4,333 $ 1,125 $ 5,458 $ 4,000 $ 908 $ 4,908 Unallocated corporate and other 470 405 Total revenue $ 5,928 $ 5,313 Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 (in millions) U.S. & Canada International Total U.S. & Canada International Total Gross fee revenues $ 2,113 $ 924 $ 3,037 $ 1,821 $ 630 $ 2,451 Contract investment amortization (49) (16) (65) (45) (20) (65) Net fee revenues 2,064 908 2,972 1,776 610 2,386 Owned, leased, and other revenue 327 691 1,018 330 575 905 Cost reimbursement revenue 10,722 1,658 12,380 9,282 1,273 10,555 Total reportable segment revenue $ 13,113 $ 3,257 $ 16,370 $ 11,388 $ 2,458 $ 13,846 Unallocated corporate and other 1,248 1,004 Total revenue $ 17,618 $ 14,850
Segment Profits	Segment Profits Three Months Ended Nine Months Ended (in millions) September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 U.S. & Canada $ 707 $ 652 $ 2,120 $ 1,833 International 318 227 865 568 Unallocated corporate and other 103 83 203 92 Interest expense, net of interest income (139) (93) (391) (270) Provision for income taxes (237) (239) (562) (538) Net income $ 752 $ 630 $ 2,235 $ 1,685

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Computation of Basic Earnings Per Share
Net income	$ 752	$ 726	$ 757	$ 630	$ 678	$ 377	$ 2,235	$ 1,685
Shares for basic earnings per share (in shares)	298.6			324.5			303.9	327
Basic earnings per shares (in USD per share)	$ 2.52			$ 1.94			$ 7.36	$ 5.15
Computation of Diluted Earnings Per Share
Net income	$ 752	$ 726	$ 757	$ 630	$ 678	$ 377	$ 2,235	$ 1,685
Shares for basic earnings per share (in shares)	298.6			324.5			303.9	327
Effect of dilutive securities
Stock-based compensation (in shares)	1.5			1.2			1.4	1.4
Shares for diluted earnings per share (in shares)	300.1			325.7			305.3	328.4
Diluted earnings per share (in USD per share)	$ 2.51			$ 1.94			$ 7.32	$ 5.13

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards, weighted average grant-date fair value (in USD per share)			$ 167
Share-based compensation expense	$ 47	$ 45	$ 129	$ 136
Deferred compensation costs related to unvested awards	$ 217		$ 217		$ 179
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards, granted (in shares)			1
Stock awards, vesting period			4 years
Stock awards, period of service after grant date			1 year
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards, granted (in shares)			0.1

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate	23.90%	27.50%	20.10%	24.20%
Decrease in unrecognized tax benefits			$ 101
Unrecognized tax benefits	$ 154		154		$ 255
Unrecognized tax benefits with tax positions that would impact effective tax rate	$ 143		143		$ 241
Cash paid for income taxes, net of refunds			$ 669	$ 341

Commitments and Contingencies -

Commitments and Contingencies - Guarantees (Details) $ in Millions	Sep. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Line Items]
Maximum Potential Amount of Future Fundings	$ 221
Recorded Liability for Guarantees	89
Debt service
Commitments and Contingencies Disclosure [Line Items]
Maximum Potential Amount of Future Fundings	57
Recorded Liability for Guarantees	6
Operating profit
Commitments and Contingencies Disclosure [Line Items]
Maximum Potential Amount of Future Fundings	146
Recorded Liability for Guarantees	79
Operating profit | Not Yet In Effect Condition
Commitments and Contingencies Disclosure [Line Items]
Maximum Potential Amount of Future Fundings	41
Other
Commitments and Contingencies Disclosure [Line Items]
Maximum Potential Amount of Future Fundings	18
Recorded Liability for Guarantees	$ 4

Commitments and Contingencies_2

Commitments and Contingencies - Contingent Purchase Obligations (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2017
Guarantor Obligations [Line Items]
Guarantee	$ 221
Guarantee, recorded liability	89
Sheraton Grand Chicago Hotel
Guarantor Obligations [Line Items]
Guarantee, recorded liability	300	$ 300
Sheraton Grand Chicago Hotel | Hotel and Leasehold
Guarantor Obligations [Line Items]
Guarantee			$ 300
Sheraton Grand Chicago Hotel | Land
Guarantor Obligations [Line Items]
Guarantee	$ 200

Commitments and Contingencies_3

Commitments and Contingencies - Expenses and Insurance Recoveries (Details)	Nov. 30, 2018 lawsuit
Class Action Lawsuits Related to Data Security Incident
Loss Contingencies [Line Items]
Number of new lawsuits filed	100

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($)	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Commercial paper	$ 973,000,000		$ 871,000,000
Credit Facility	0		0
Finance lease obligations	133,000,000		139,000,000
Other	56,000,000		92,000,000
Total debt	11,768,000,000		10,064,000,000
Less current portion	(898,000,000)		(684,000,000)
Long-term debt, noncurrent	10,870,000,000		9,380,000,000
Series P Notes, interest rate of 3.8%, face amount of $350, maturing October 1, 2025 (effective interest rate of 4.0%)
Debt Instrument [Line Items]
Senior notes	$ 348,000,000		348,000,000
Series P Notes, interest rate of 3.8%, face amount of $350, maturing October 1, 2025 (effective interest rate of 4.0%) | Senior Notes
Debt Instrument [Line Items]
Interest rate	3.80%
Senior notes, face amount	$ 350,000,000
Effective interest rate	4%
Series R Notes, interest rate of 3.1%, face amount of $750, maturing June 15, 2026 (effective interest rate of 3.3%)
Debt Instrument [Line Items]
Senior notes	$ 747,000,000		747,000,000
Series R Notes, interest rate of 3.1%, face amount of $750, maturing June 15, 2026 (effective interest rate of 3.3%) | Senior Notes
Debt Instrument [Line Items]
Interest rate	3.10%
Senior notes, face amount	$ 750,000,000
Effective interest rate	3.30%
Series U Notes, interest rate of 3.1%, face amount of $291, matured February 15, 2023 (effective interest rate of 3.1%)
Debt Instrument [Line Items]
Senior notes	$ 0		291,000,000
Series U Notes, interest rate of 3.1%, face amount of $291, matured February 15, 2023 (effective interest rate of 3.1%) | Senior Notes
Debt Instrument [Line Items]
Interest rate	3.10%
Senior notes, face amount	$ 291,000,000
Effective interest rate	3.10%
Series V Notes, interest rate of 3.8%, face amount of $318, maturing March 15, 2025 (effective interest rate of 2.8%)
Debt Instrument [Line Items]
Senior notes	$ 322,000,000		324,000,000
Series V Notes, interest rate of 3.8%, face amount of $318, maturing March 15, 2025 (effective interest rate of 2.8%) | Senior Notes
Debt Instrument [Line Items]
Interest rate	3.80%
Senior notes, face amount	$ 318,000,000
Effective interest rate	2.80%
Series W Notes, interest rate of 4.5%, face amount of $278, maturing October 1, 2034 (effective interest rate of 4.1%)
Debt Instrument [Line Items]
Senior notes	$ 289,000,000		289,000,000
Series W Notes, interest rate of 4.5%, face amount of $278, maturing October 1, 2034 (effective interest rate of 4.1%) | Senior Notes
Debt Instrument [Line Items]
Interest rate	4.50%
Senior notes, face amount	$ 278,000,000
Effective interest rate	4.10%
Series X Notes, interest rate of 4.0%, face amount of $450, maturing April 15, 2028 (effective interest rate of 4.2%)
Debt Instrument [Line Items]
Senior notes	$ 446,000,000		446,000,000
Series X Notes, interest rate of 4.0%, face amount of $450, maturing April 15, 2028 (effective interest rate of 4.2%) | Senior Notes
Debt Instrument [Line Items]
Interest rate	4%
Senior notes, face amount	$ 450,000,000
Effective interest rate	4.20%
Series Z Notes, interest rate of 4.2%, face amount of $350, maturing December 1, 2023 (effective interest rate of 4.4%)
Debt Instrument [Line Items]
Senior notes	$ 350,000,000		349,000,000
Series Z Notes, interest rate of 4.2%, face amount of $350, maturing December 1, 2023 (effective interest rate of 4.4%) | Senior Notes
Debt Instrument [Line Items]
Interest rate	4.20%
Senior notes, face amount	$ 350,000,000
Effective interest rate	4.40%
Series AA Notes, interest rate of 4.7%, face amount of $300, maturing December 1, 2028 (effective interest rate of 4.8%)
Debt Instrument [Line Items]
Senior notes	$ 298,000,000		298,000,000
Series AA Notes, interest rate of 4.7%, face amount of $300, maturing December 1, 2028 (effective interest rate of 4.8%) | Senior Notes
Debt Instrument [Line Items]
Interest rate	4.70%
Senior notes, face amount	$ 300,000,000
Effective interest rate	4.80%
Series CC Notes, interest rate of 3.6%, face amount of $550, maturing April 15, 2024 (effective interest rate of 3.9%)
Debt Instrument [Line Items]
Senior notes	$ 540,000,000		531,000,000
Series CC Notes, interest rate of 3.6%, face amount of $550, maturing April 15, 2024 (effective interest rate of 3.9%) | Senior Notes
Debt Instrument [Line Items]
Interest rate	3.60%
Senior notes, face amount	$ 550,000,000
Effective interest rate	3.90%
Series EE Notes, interest rate of 5.8%, face amount of $600, maturing May 1, 2025 (effective interest rate of 6.0%)
Debt Instrument [Line Items]
Senior notes	$ 598,000,000		596,000,000
Series EE Notes, interest rate of 5.8%, face amount of $600, maturing May 1, 2025 (effective interest rate of 6.0%) | Senior Notes
Debt Instrument [Line Items]
Interest rate	5.80%
Senior notes, face amount	$ 600,000,000
Effective interest rate	6%
Series FF Notes, interest rate of 4.6%, face amount of $1,000, maturing June 15, 2030 (effective interest rate of 4.8%)
Debt Instrument [Line Items]
Senior notes	$ 989,000,000		988,000,000
Series FF Notes, interest rate of 4.6%, face amount of $1,000, maturing June 15, 2030 (effective interest rate of 4.8%) | Senior Notes
Debt Instrument [Line Items]
Interest rate	4.60%
Senior notes, face amount	$ 1,000,000,000
Effective interest rate	4.80%
Series GG Notes, interest rate of 3.5%, face amount of $1,000, maturing October 15, 2032 (effective interest rate of 3.7%)
Debt Instrument [Line Items]
Senior notes	$ 988,000,000		987,000,000
Series GG Notes, interest rate of 3.5%, face amount of $1,000, maturing October 15, 2032 (effective interest rate of 3.7%) | Senior Notes
Debt Instrument [Line Items]
Interest rate	3.50%
Senior notes, face amount	$ 1,000,000,000
Effective interest rate	3.70%
Series HH Notes, interest rate of 2.9%, face amount of $1,100, maturing April 15, 2031 (effective interest rate of 3.0%)
Debt Instrument [Line Items]
Senior notes	$ 1,091,000,000		1,090,000,000
Series HH Notes, interest rate of 2.9%, face amount of $1,100, maturing April 15, 2031 (effective interest rate of 3.0%) | Senior Notes
Debt Instrument [Line Items]
Interest rate	2.90%
Senior notes, face amount	$ 1,100,000,000
Effective interest rate	3%
Series II Notes, interest rate of 2.8%, face amount of $700, maturing October 15, 2033 (effective interest rate of 2.8%)
Debt Instrument [Line Items]
Senior notes	$ 694,000,000		694,000,000
Series II Notes, interest rate of 2.8%, face amount of $700, maturing October 15, 2033 (effective interest rate of 2.8%) | Senior Notes
Debt Instrument [Line Items]
Interest rate	2.80%
Senior notes, face amount	$ 700,000,000
Effective interest rate	2.80%
Series JJ Notes, interest rate of 5.0%, face amount of $1,000, maturing October 15, 2027 (effective interest rate of 5.4%)
Debt Instrument [Line Items]
Senior notes	$ 986,000,000		984,000,000
Series JJ Notes, interest rate of 5.0%, face amount of $1,000, maturing October 15, 2027 (effective interest rate of 5.4%) | Senior Notes
Debt Instrument [Line Items]
Interest rate	5%
Senior notes, face amount	$ 1,000,000,000
Effective interest rate	5.40%
Series KK Notes, interest rate of 4.9%, face amount of $800, maturing April 15, 2029 (effective interest rate of 5.3%)
Debt Instrument [Line Items]
Senior notes	$ 785,000,000		0
Series KK Notes, interest rate of 4.9%, face amount of $800, maturing April 15, 2029 (effective interest rate of 5.3%) | Senior Notes
Debt Instrument [Line Items]
Interest rate	4.90%	4.90%
Senior notes, face amount	$ 800,000,000	$ 800,000,000
Effective interest rate	5.30%
Series LL Notes, interest rate of 5.5%, face amount of $450, maturing September 15, 2026 (effective interest rate of 5.9%)
Debt Instrument [Line Items]
Senior notes	$ 444,000,000		0
Series LL Notes, interest rate of 5.5%, face amount of $450, maturing September 15, 2026 (effective interest rate of 5.9%) | Senior Notes
Debt Instrument [Line Items]
Interest rate	5.45%
Senior notes, face amount	$ 450,000,000
Effective interest rate	5.90%
Series MM Notes, interest rate of 5.6%, face amount of $700, maturing October 15, 2028 (effective interest rate of 5.9%)
Debt Instrument [Line Items]
Senior notes	$ 691,000,000		$ 0
Series MM Notes, interest rate of 5.6%, face amount of $700, maturing October 15, 2028 (effective interest rate of 5.9%) | Senior Notes
Debt Instrument [Line Items]
Interest rate	5.55%
Senior notes, face amount	$ 700,000,000
Effective interest rate	5.90%

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) - USD ($)	1 Months Ended		9 Months Ended
	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2023	Sep. 30, 2022
Debt Instrument [Line Items]
Interest paid, net of amounts capitalized			$ 266,000,000	$ 203,000,000
Maximum aggregate borrowings under credit facility (up to)	$ 4,500,000,000		4,500,000,000
Series LL Notes, interest rate of 5.5%, face amount of $450, maturing September 15, 2026 (effective interest rate of 5.9%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, face amount	$ 450,000,000		$ 450,000,000
Interest rate	5.45%		5.45%
Series KK Notes, interest rate of 4.9%, face amount of $800, maturing April 15, 2029 (effective interest rate of 5.3%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, face amount	$ 800,000,000	$ 800,000,000	$ 800,000,000
Interest rate	4.90%	4.90%	4.90%
Proceeds from debt		$ 783,000,000
Series MM Notes, interest rate of 5.6%, face amount of $700, maturing October 15, 2028 (effective interest rate of 5.9%) | Senior Notes
Debt Instrument [Line Items]
Senior notes, face amount	$ 700,000,000		$ 700,000,000
Interest rate	5.55%		5.55%
Series LL and MM Notes | Senior Notes
Debt Instrument [Line Items]
Proceeds from debt	$ 1,135,000,000

Acquisition (Details)

Acquisition (Details) - City Express Brand Portfolio $ in Millions	May 01, 2023 USD ($) hotel
Asset Acquisition [Line Items]
Consideration transferred	$ 100
Number of hotels | hotel	149
Brand asset acquired	$ 85
Intangibles, weighted average term	20 years
Franchise contract assets acquired	$ 21

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior, mezzanine, and other loans	$ 159	$ 152
Commercial paper	(973)	(871)
Other noncurrent liabilities	(1,622)	(1,842)
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior, mezzanine, and other loans	159	152
Total noncurrent financial assets	159	152
Senior Notes	(9,716)	(8,322)
Commercial paper	(973)	(871)
Other long-term debt	(56)	(56)
Other noncurrent liabilities	(371)	(394)
Total noncurrent financial liabilities	(11,116)	(9,643)
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior, mezzanine, and other loans	147	142
Total noncurrent financial assets	147	142
Senior Notes	(8,920)	(7,627)
Commercial paper	(973)	(871)
Other long-term debt	(50)	(49)
Other noncurrent liabilities	(371)	(394)
Total noncurrent financial liabilities	$ (10,314)	$ (8,941)

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss and Stockholders' Equity - Accumulated Other Comprehensive (Loss) Income Activity (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	$ (224)	$ 140	$ 568	$ 1,772	$ 1,772	$ 1,414	$ 568	$ 1,414
Other comprehensive (loss) income before reclassifications							(118)	(644)
Reclassification adjustments							(2)	(4)
Total other comprehensive income (loss), net of tax	(133)	(69)	82	(339)	(323)	14	(120)	(648)
Balance at end of period	(661)	(224)	140	1,063	1,772	1,772	(661)	1,063
Intra-entity foreign currency long-term-investment (losses) gains							(1)	76
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period			(740)			(351)	(740)	(351)
Other comprehensive (loss) income before reclassifications							(129)	(653)
Reclassification adjustments							(3)	0
Total other comprehensive income (loss), net of tax							(132)	(653)
Balance at end of period	(872)			(1,004)			(872)	(1,004)
Other Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period			11			9	11	9
Other comprehensive (loss) income before reclassifications							11	9
Reclassification adjustments							1	(4)
Total other comprehensive income (loss), net of tax							12	5
Balance at end of period	23			14			23	14
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	(716)	(647)	(729)	(651)	(328)	(342)	(729)	(342)
Total other comprehensive income (loss), net of tax	(133)	(69)	82	(339)	(323)	14
Balance at end of period	$ (849)	$ (716)	$ (647)	$ (990)	$ (651)	$ (328)	$ (849)	$ (990)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss and Stockholders' Equity - Changes in Stockholders' Equity (Deficit) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Stockholders Equity Note [Line Items]
Cash dividends (in USD per share)	$ 0.52	$ 0.52	$ 0.40	$ 0.30	$ 0.30
(Increase) Decrease in Shareholders' Deficit [Roll Forward]
Balance at beginning of period	$ (224)	$ 140	$ 568	$ 1,772	$ 1,772	$ 1,414	$ 568	$ 1,414
Net income	752	726	757	630	678	377	2,235	1,685
Other comprehensive income (loss)	(133)	(69)	82	(339)	(323)	14	(120)	(648)
Dividends	(154)	(157)	(124)	(97)	(98)
Stock-based compensation plans	56	48	(34)	47	43	(33)
Purchase of treasury stock	(958)	(912)	(1,109)	(950)	(300)
Balance at end of period	(661)	(224)	140	1,063	1,772	1,772	(661)	1,063
Class A Common Stock
(Increase) Decrease in Shareholders' Deficit [Roll Forward]
Balance at beginning of period	$ 5	$ 5	$ 5	$ 5	$ 5	$ 5	$ 5	$ 5
Balance at beginning of period (in shares)	299.6	304.7	310.6	325.4	327.3	326.3	310.6	326.3
Stock-based compensation plans (in shares)	0.4	0.1	0.9	0.1		1
Purchase of treasury stock (in shares)	(4.8)	(5.2)	(6.8)	(6.2)	(1.9)
Balance at end of period	$ 5	$ 5	$ 5	$ 5	$ 5	$ 5	$ 5	$ 5
Balance at end of period (in shares)	295.2	299.6	304.7	319.3	325.4	327.3	295.2	319.3
Additional Paid-in-Capital
(Increase) Decrease in Shareholders' Deficit [Roll Forward]
Balance at beginning of period	$ 5,952	$ 5,906	$ 5,965	$ 5,872	$ 5,831	$ 5,892	$ 5,965	$ 5,892
Stock-based compensation plans	44	46	(59)	47	41	(61)
Balance at end of period	5,996	5,952	5,906	5,919	5,872	5,831	5,996	5,919
Retained Earnings
(Increase) Decrease in Shareholders' Deficit [Roll Forward]
Balance at beginning of period	13,544	12,975	12,342	11,262	10,682	10,305	12,342	10,305
Net income	752	726	757	630	678	377
Dividends	(154)	(157)	(124)	(97)	(98)
Balance at end of period	14,142	13,544	12,975	11,795	11,262	10,682	14,142	11,795
Treasury Stock, at Cost
(Increase) Decrease in Shareholders' Deficit [Roll Forward]
Balance at beginning of period	(19,009)	(18,099)	(17,015)	(14,716)	(14,418)	(14,446)	(17,015)	(14,446)
Stock-based compensation plans	12	2	25	0	2	28
Purchase of treasury stock	(958)	(912)	(1,109)	(950)	(300)
Balance at end of period	(19,955)	(19,009)	(18,099)	(15,666)	(14,716)	(14,418)	(19,955)	(15,666)
Accumulated Other Comprehensive Loss
(Increase) Decrease in Shareholders' Deficit [Roll Forward]
Balance at beginning of period	(716)	(647)	(729)	(651)	(328)	(342)	(729)	(342)
Other comprehensive income (loss)	(133)	(69)	82	(339)	(323)	14
Balance at end of period	$ (849)	$ (716)	$ (647)	$ (990)	$ (651)	$ (328)	$ (849)	$ (990)

Contracts with Customers (Detai

Contracts with Customers (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Allowance for credit loss	$ 189	$ 191
Loyalty Program
Disaggregation of Revenue [Line Items]
Increase (decrease) in deferred revenue	200
Contract with customer liability	6,794	6,594
Reclassification of deferred revenue to liability for guest loyalty program	91
Deferred revenue recognized	2,325
Deferred revenue
Disaggregation of Revenue [Line Items]
Increase (decrease) in deferred revenue	(113)
Contract with customer liability	1,218	$ 1,331
Deferred revenue recognized	$ 213

Business Segments - Segment Rev

Business Segments - Segment Revenues (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) segment	Sep. 30, 2022 USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment			2
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 5,928	$ 5,313	$ 17,618	$ 14,850
Total segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	5,458	4,908	16,370	13,846
Total segment | U.S. & Canada
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	4,333	4,000	13,113	11,388
Total segment | International
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	1,125	908	3,257	2,458
Unallocated corporate and other
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	470	405	1,248	1,004
Fee revenues
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross fee revenues	1,197	1,059	3,580	2,947
Contract investment amortization	(23)	(22)	(66)	(65)
Revenue	1,174	1,037	3,514	2,882
Fee revenues | Total segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross fee revenues	1,009	890	3,037	2,451
Contract investment amortization	(22)	(22)	(65)	(65)
Revenue	987	868	2,972	2,386
Fee revenues | Total segment | U.S. & Canada
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross fee revenues	690	649	2,113	1,821
Contract investment amortization	(16)	(16)	(49)	(45)
Revenue	674	633	2,064	1,776
Fee revenues | Total segment | International
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross fee revenues	319	241	924	630
Contract investment amortization	(6)	(6)	(16)	(20)
Revenue	313	235	908	610
Owned, leased and other
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	363	345	1,109	971
Owned, leased and other | Total segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	329	319	1,018	905
Owned, leased and other | Total segment | U.S. & Canada
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	94	114	327	330
Owned, leased and other | Total segment | International
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	235	205	691	575
Reimbursements
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	4,391	3,931	12,995	10,997
Reimbursements | Total segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	4,142	3,721	12,380	10,555
Reimbursements | Total segment | U.S. & Canada
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	3,565	3,253	10,722	9,282
Reimbursements | Total segment | International
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 577	$ 468	$ 1,658	$ 1,273

Business Segments - Segment Pro

Business Segments - Segment Profits (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits	$ 1,099			$ 958			$ 3,146	$ 2,466
Interest expense, net of interest income	(139)			(93)			(391)	(270)
Provision for income taxes	(237)			(239)			(562)	(538)
NET INCOME	752	$ 726	$ 757	630	$ 678	$ 377	2,235	1,685
Total segment | U.S. & Canada
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits	707			652			2,120	1,833
Total segment | International
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits	318			227			865	568
Unallocated corporate and other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segments profits	$ 103			$ 83			$ 203	$ 92