Name: Marriott International Inc. (NASDAQ:MAR) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

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Current Assets: Selected Items

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Marriott International Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Cash and equivalents	225)	316)	383)	858)	96)
Accounts receivable, net	2,386)	2,127)	1,984)	1,692)	1,097)
Notes receivable, net	9)	6)	7)	3)	6)
Accounts and notes receivable, net	2,395)	2,133)	1,991)	1,695)	1,103)
Prepaid expenses and other	252)	249)	224)	230)	107)
Assets held for sale	255)	8)	149)	588)	78)
Current assets	3,127)	2,706)	2,747)	3,371)	1,384)
Property and equipment, net	1,904)	1,956)	1,793)	2,335)	1,029)
Brands	5,954)	5,790)	5,921)	6,509)	197)
Contract acquisition costs and other	2,687)	2,590)	2,884)	2,761)	1,254)
Goodwill	9,048)	9,039)	9,207)	7,598)	943)
Intangible assets	17,689)	17,419)	18,012)	16,868)	2,394)
Equity method investments	577)	732)	740)	728)	165)
Notes receivable, net	117)	125)	142)	245)	215)
Deferred tax assets	154)	171)	93)	116)	672)
Operating lease assets	888)	—)	—)	—)	—)
Other noncurrent assets	595)	587)	421)	477)	223)
Noncurrent assets	21,924)	20,990)	21,201)	20,769)	4,698)
Total assets	25,051)	23,696)	23,948)	24,140)	6,082)

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).

Total assets experienced a significant expansion between 2015 and 2016, increasing from US$ 6,082 million to US$ 24,140 million. Following this surge, the asset base remained relatively stable, fluctuating slightly before reaching US$ 25,051 million by December 31, 2019. This growth was primarily driven by a massive increase in noncurrent assets, which shifted the company's asset composition toward a heavily intangible-weighted structure.

Liquidity and Current Asset Trends: Current assets grew from US$ 1,384 million in 2015 to a peak of US$ 3,371 million in 2016, subsequently stabilizing between US$ 2,706 million and US$ 3,127 million. A notable trend is observed in cash and equivalents, which peaked at US$ 858 million in 2016 before entering a consistent decline to US$ 225 million by 2019. Conversely, accounts receivable, net, showed a steady and uninterrupted upward trajectory, rising from US$ 1,097 million in 2015 to US$ 2,386 million in 2019, suggesting an increase in credit extended to customers or slower collection cycles.
Intangible Assets and Goodwill: The most substantial growth occurred within intangible assets and goodwill starting in 2016. Goodwill rose from US$ 943 million in 2015 to a peak of US$ 9,207 million in 2017, remaining above US$ 9,000 million through 2019. Intangible assets saw an even more dramatic increase, jumping from US$ 2,394 million in 2015 to US$ 16,868 million in 2016, eventually peaking at US$ 18,012 million in 2017. Brand-related assets followed a similar pattern, increasing from US$ 197 million in 2015 to a high of US$ 6,509 million in 2016 before moderately declining to US$ 5,954 million by 2019.
Fixed Assets and Long-term Investments: Property and equipment, net, increased from US$ 1,029 million in 2015 to US$ 2,335 million in 2016, then fluctuated slightly to end the period at US$ 1,904 million. Equity method investments remained relatively stable between 2016 and 2018, averaging approximately US$ 730 million, before declining to US$ 577 million in 2019. Additionally, the appearance of operating lease assets totaling US$ 888 million in 2019 indicates a change in accounting recognition or lease structures toward the end of the observed period.
Overall Balance Sheet Structure: The asset profile transitioned from a more balanced distribution in 2015 to one dominated by noncurrent assets. By 2019, noncurrent assets represented approximately 87.7% of total assets. The heavy concentration in goodwill and intangible assets suggests that the company's value is primarily tied to acquired brands and intellectual property rather than physical infrastructure or liquid capital.

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