MARRIOTT INTERNATIONAL INC /MD/
For the period ended Jun 30, 2025. Filed Aug 5, 2025.
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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.
Jun 30, 2025 · Filed Aug 5, 2025
MAR$428.26+2.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Income
(in millions, except per share amounts)
| Three Months Ended | Six Months Ended | |||
|---|---|---|---|---|
| June 30, 2025 | June 30, 2024 | June 30, 2025 | June 30, 2024 | |
| REVENUES | ||||
| Base management fees | $340 | $330 | $665 | $643 |
| Franchise fees | 860 | 818 | 1,606 | 1,506 |
| Incentive management fees | 200 | 195 | 404 | 404 |
| Gross fee revenues | 1,400 | 1,343 | 2,675 | 2,553 |
| Contract investment amortization | (29) | (27) | (57) | (50) |
| Net fee revenues | 1,371 | 1,316 | 2,618 | 2,503 |
| Owned, leased, and other revenue | 441 | 395 | 802 | 752 |
| Cost reimbursement revenue | 4,932 | 4,728 | 9,587 | 9,161 |
| 6,744 | 6,439 | 13,007 | 12,416 | |
| OPERATING COSTS AND EXPENSES | ||||
| Owned, leased, and other - direct | 328 | 296 | 624 | 582 |
| Depreciation, amortization, and other | 53 | 47 | 104 | 92 |
| General, administrative, and other | 245 | 248 | 490 | 509 |
| Restructuring and merger-related charges | 8 | 8 | 9 | 16 |
| Reimbursed expenses | 4,874 | 4,645 | 9,596 | 9,146 |
| 5,508 | 5,244 | 10,823 | 10,345 | |
| OPERATING INCOME | 1,236 | 1,195 | 2,184 | 2,071 |
| Gains and other income, net | 5 | 4 | 3 | 8 |
| Interest expense | (203) | (173) | (395) | (336) |
| Interest income | 12 | 9 | 21 | 19 |
| Equity in earnings | 4 | 5 | 5 | 5 |
| INCOME BEFORE INCOME TAXES | 1,054 | 1,040 | 1,818 | 1,767 |
| Provision for income taxes | (291) | (268) | (390) | (431) |
| NET INCOME | $763 | $772 | $1,428 | $1,336 |
| EARNINGS PER SHARE | ||||
| Earnings per share – basic | $2.78 | $2.70 | $5.18 | $4.64 |
| Earnings per share – diluted | $2.78 | $2.69 | $5.17 | $4.62 |
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