MARRIOTT INTERNATIONAL INC MD
For the period ended Dec 31, 2024. Filed Feb 11, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 11, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Fair Value of Financial Instruments
NOTE 12. FAIR VALUE OF FINANCIAL INSTRUMENTS
We believe that the fair values of our current assets and current liabilities approximate their reported carrying amounts. We present the carrying amounts and the fair values of noncurrent financial assets and liabilities that qualify as financial instruments in the following table:
| At Year-End 2024 | At Year-End 2023 | |||
|---|---|---|---|---|
| (in millions) | CarryingAmount | Fair Value | CarryingAmount | Fair Value |
| Notes receivable | $136 | $133 | $138 | $131 |
| Total noncurrent financial assets | $136 | $133 | $138 | $131 |
| Senior Notes | $(11,419) | $(11,083) | $(9,720) | $(9,393) |
| Commercial paper | (1,582) | (1,582) | (1,421) | (1,421) |
| Total noncurrent financial liabilities | $(13,001) | $(12,665) | $(11,141) | $(10,814) |
Our notes receivable include mezzanine and other loans to hotel owners, generally to facilitate the development or renovation of a hotel and sometimes to facilitate brand programs or initiatives. We estimate the fair value of our notes receivable by discounting cash flows using risk-adjusted rates, both of which are Level 3 inputs.
We determine the fair value of our Senior Notes using quoted market prices, which are directly observable Level 1 inputs. The carrying amount of our commercial paper borrowings approximate fair value due to their short maturity and because they bear interest at a market rate.
See the “Fair Value Measurements” caption of Note 2 for more information on the input levels we use in determining fair value.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.