Hyatt Hotels Corp
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
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FY2023 · Filed Feb 23, 2024
H$191.55+3.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows for the Years Ended
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income (loss) | $220 | $455 | $(222) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Gains on sales of real estate and other | (18) | (263) | (414) |
| Depreciation and amortization | 397 | 426 | 310 |
| Amortization of share awards | 75 | 61 | 59 |
| Amortization of operating lease right-of-use assets | 42 | 35 | 27 |
| Deferred income taxes | (125) | (259) | 200 |
| Asset impairments | 30 | 38 | 8 |
| Equity (earnings) losses from unconsolidated hospitality ventures | 1 | (5) | (28) |
| Contra revenue | 47 | 31 | 35 |
| Loss on extinguishment of debt | — | 9 | 2 |
| Unrealized (gains) losses, net | (36) | 55 | (14) |
| Distributions from unconsolidated hospitality ventures | 9 | 16 | 2 |
| Contingent consideration liability fair value adjustment | 9 | — | — |
| Other | (54) | (92) | (38) |
| Increase (decrease) in cash attributable to changes in assets and liabilities | |||
| Receivables, net | — | (209) | (85) |
| Prepaid income taxes | (24) | 2 | 255 |
| Prepaids and other assets | (66) | (114) | (54) |
| Other long-term assets | (92) | (110) | (10) |
| Accounts payable, accrued expenses, and other current liabilities | (29) | 96 | 87 |
| Contract liabilities | 492 | 491 | 213 |
| Operating lease liabilities | (43) | (35) | (25) |
| Accrued compensation and benefits | (22) | 46 | 33 |
| Other long-term liabilities | (13) | — | (25) |
| Other, net | — | — | (1) |
| Net cash provided by operating activities | $800 | $674 | $315 |
(Continued)
F- 8
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchases of marketable securities and short-term investments | $(483) | $(952) | $(793) |
| Proceeds from marketable securities and short-term investments | 576 | 1,060 | 1,240 |
| Contributions to equity method and other investments | (43) | (8) | (29) |
| Return of equity method and other investments | 7 | 54 | 98 |
| Acquisitions, net of cash acquired | (175) | (174) | (2,916) |
| Capital expenditures | (198) | (201) | (111) |
| Issuance of financing receivables | (43) | (25) | (21) |
| Proceeds from financing receivables | 1 | 17 | 7 |
| Proceeds from sales of real estate and other, net of cash disposed | (10) | 625 | 758 |
| Other investing activities | 3 | 20 | (5) |
| Net cash provided by (used in) investing activities | (365) | 416 | (1,772) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from debt, net of issuance costs of $4, $—, and $11, respectively | 596 | — | 1,949 |
| Repayments and repurchases of debt | (660) | (711) | (1,218) |
| Repurchases of common stock | (453) | (369) | — |
| Proceeds from issuance of Class A common stock, net of offering costs of $—, $—, and $25, respectively | — | — | 575 |
| Utilization of restricted cash for legal defeasance of Series 2005 Bonds | — | (8) | — |
| Dividends paid | (47) | — | — |
| Other financing activities | (14) | (18) | (18) |
| Net cash provided by (used in) financing activities | (578) | (1,106) | 1,288 |
| EFFECT OF EXCHANGE RATE CHANGES ON CASH | (2) | 18 | (3) |
| NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, INCLUDING CASH, CASH EQUIVALENTS, AND RESTRICTED CASH CLASSIFIED WITHIN CURRENT ASSETS HELD FOR SALE | (145) | 2 | (172) |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH RECLASSIFIED TO ASSETS HELD FOR SALE | (3) | — | — |
| NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | (148) | 2 | (172) |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—BEGINNING OF YEAR | 1,067 | 1,065 | 1,237 |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—END OF YEAR | $919 | $1,067 | $1,065 |
(Continued)
F- 9
Supplemental disclosure of cash flow information:
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Cash and cash equivalents | $881 | $991 | $960 |
| Restricted cash | 34 | 39 | 57 |
| Restricted cash included in other assets (see Note 10) | 4 | 37 | 48 |
| Total cash, cash equivalents, and restricted cash | $919 | $1,067 | $1,065 |
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Cash paid during the period for interest | $115 | $138 | $145 |
| Cash paid (received) during the period for income taxes, net | $153 | $101 | $(210) |
| Cash paid for amounts included in the measurement of operating lease liabilities | $54 | $47 | $41 |
| Non-cash investing and financing activities are as follows: | |||
| Change in accrued capital expenditures | $9 | $1 | $2 |
| Non-cash contributions to equity method and other investments (see Note 4, Note 7, Note 15) | $4 | $— | $61 |
| Non-cash issuance of financing receivables (see Note 7) | $— | $— | $11 |
| Non-cash right-of-use assets obtained in exchange for operating lease liabilities | $16 | $25 | $16 |
| Non-cash legal defeasance of Series 2005 Bonds (see Note 7) | $— | $166 | $— |
| Non-cash reduction in right-of-use assets and operating lease liabilities for lease reassessment | $— | $13 | $— |
| Non-cash held-to-maturity debt security received (see Note 7) | $— | $19 | $— |
| Non-cash repurchases of common stock (see Note 16) | $— | $9 | $— |
| Non-cash contingent consideration liability assumed in acquisition (see Note 7) | $107 | $— | $— |
| Non-cash contingent consideration receivable recorded in disposition (see Note 7) | $28 | $— | $— |
| Non-cash redemption of held-to-maturity debt security in exchange for equity method investment (see Note 4) | $32 | $— | $— |
| Non-cash redemption of financing receivables | $20 | $— | $— |
| Non-cash dividends declared (see Note 16) | $1 | $— | $— |
(Concluded)
F- 10
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