Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Marriott International Inc., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Net income	1,273)	1,907)	1,372)	780)	859)
Depreciation, amortization, and other	403)	284)	290)	168)	139)
Share-based compensation	187)	184)	181)	212)	113)
Income taxes	(200)	(239)	828)	76)	143)
Liability for guest loyalty program	257)	520)	378)	343)	233)
Contract acquisition costs	(195)	(152)	—)	—)	—)
Merger-related charges	86)	16)	(124)	113)	—)
Working capital changes	(273)	(76)	81)	(177)	(126)
(Gain) loss on asset dispositions	(147)	(194)	(687)	1)	(25)
Other	294)	107)	117)	66)	94)
Adjustments to reconcile to cash provided by operating activities	412)	450)	1,064)	802)	571)
Net cash provided by operating activities	1,685)	2,357)	2,436)	1,582)	1,430)
Acquisition of a business, net of cash acquired	—)	—)	—)	(2,412)	(137)
Capital expenditures	(653)	(556)	(240)	(199)	(305)
Dispositions	395)	479)	1,418)	218)	673)
Loan advances	(30)	(13)	(93)	(32)	(66)
Loan collections	51)	48)	187)	67)	92)
Contract acquisition costs	—)	—)	(189)	(80)	(121)
Redemption of debt security	—)	—)	—)	—)	121)
Other	(47)	(10)	(63)	29)	110)
Net cash (used in) provided by investing activities	(284)	(52)	1,020)	(2,409)	367)
Commercial paper/Credit Facility, net	951)	(129)	25)	1,365)	(140)
Issuance of long-term debt	1,397)	1,646)	—)	1,482)	790)
Repayment of long-term debt	(835)	(397)	(310)	(326)	(325)
Issuance of Class A Common Stock	7)	4)	6)	34)	40)
Dividends paid	(612)	(543)	(482)	(374)	(253)
Purchase of treasury stock	(2,260)	(2,850)	(3,013)	(568)	(1,917)
Share-based compensation withholding taxes	(148)	(105)	(157)	—)	—)
Other	(8)	—)	—)	(24)	—)
Net cash provided by (used in) financing activities	(1,508)	(2,374)	(3,931)	1,589)	(1,805)
Increase (decrease) in cash, cash equivalents, and restricted cash	(107)	(69)	(475)	762)	(8)
Cash, cash equivalents, and restricted cash, beginning of period	360)	429)	858)	96)	104)
Cash, cash equivalents, and restricted cash, end of period	253)	360)	383)	858)	96)

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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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Marriott International Inc. net cash provided by operating activities decreased from 2017 to 2018 and from 2018 to 2019.
Net cash (used in) provided by investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Marriott International Inc. net cash (used in) provided by investing activities decreased from 2017 to 2018 and from 2018 to 2019.
Net cash provided by (used in) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Marriott International Inc. net cash provided by (used in) financing activities increased from 2017 to 2018 and from 2018 to 2019.

Marriott International Inc. (NASDAQ:MAR)

Cash Flow Statement