Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Marriott International Inc., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Base management fees	1,180)	1,140)	1,102)	806)	698)
Franchise fees	2,006)	1,849)	1,618)	988)	853)
Incentive management fees	637)	649)	607)	425)	319)
Gross fee revenues	3,823)	3,638)	3,327)	2,219)	1,870)
Contract investment amortization	(62)	(58)	—)	—)	—)
Net fee revenues	3,761)	3,580)	3,327)	2,219)	1,870)
Owned, leased, and other revenue	1,612)	1,635)	1,802)	1,307)	986)
Cost reimbursement revenue	15,599)	15,543)	17,765)	13,546)	11,630)
Revenues	20,972)	20,758)	22,894)	17,072)	14,486)
Owned, leased, and other-direct	(1,316)	(1,306)	(1,427)	(900)	(733)
Reimbursed expenses	(16,439)	(15,778)	(17,765)	(13,546)	(11,630)
Cost of revenues	(17,755)	(17,084)	(19,192)	(14,446)	(12,363)
Gross profit	3,217)	3,674)	3,702)	2,626)	2,123)
Depreciation, amortization, and other	(341)	(226)	(290)	(168)	(139)
General, administrative, and other	(938)	(927)	(894)	(704)	(634)
Merger-related costs and charges	(138)	(155)	(159)	(386)	—)
Operating income	1,800)	2,366)	2,359)	1,368)	1,350)
Gains and other income, net	154)	194)	688)	5)	27)
Interest expense	(394)	(340)	(288)	(234)	(167)
Interest income	26)	22)	38)	35)	29)
Equity in earnings	13)	103)	39)	10)	16)
Income before income taxes	1,599)	2,345)	2,836)	1,184)	1,255)
Provision for income taxes	(326)	(438)	(1,464)	(404)	(396)
Net income	1,273)	1,907)	1,372)	780)	859)

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).

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Income statement item	Description	The company
Revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Marriott International Inc. revenues decreased from 2017 to 2018 but then slightly increased from 2018 to 2019.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Marriott International Inc. operating income increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.
Income before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Marriott International Inc. income before income taxes decreased from 2017 to 2018 and from 2018 to 2019.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Marriott International Inc. net income increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.

Marriott International Inc. (NASDAQ:MAR)

Income Statement