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
Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net income | $2,375 | $3,083 | $2,358 |
| Adjustments to reconcile to cash provided by operating activities: | |||
| Depreciation, amortization, and other (including depreciation and amortization classified in reimbursed expenses) (2) | 492 | 436 | 400 |
| Stock-based compensation | 237 | 205 | 192 |
| Income taxes | (172) | (612) | 280 |
| Liability for guest loyalty program | 514 | 301 | (119) |
| Contract acquisition costs | (341) | (221) | (149) |
| Restructuring and merger-related charges | (278) | 47 | (8) |
| Working capital changes | (82) | 69 | (542) |
| Other | 4 | (138) | (49) |
| Net cash provided by operating activities | 2,749 | 3,170 | 2,363 |
| INVESTING ACTIVITIES | |||
| Capital and technology expenditures | (750) | (452) | (332) |
| Asset acquisition | (26) | (101) | — |
| Dispositions | 16 | 71 | 1 |
| Loan advances | (10) | (77) | (11) |
| Loan collections | 36 | 61 | 14 |
| Other | — | 33 | 31 |
| Net cash used in investing activities | (734) | (465) | (297) |
| FINANCING ACTIVITIES | |||
| Commercial paper/Credit Facility, net | 163 | 546 | (182) |
| Issuance of long-term debt | 2,948 | 1,918 | 983 |
| Repayment of long-term debt | (558) | (684) | (804) |
| Issuance of Class A Common Stock | 73 | 29 | — |
| Dividends paid | (682) | (587) | (321) |
| Purchase of treasury stock | (3,762) | (3,953) | (2,566) |
| Stock-based compensation withholding taxes | (138) | (108) | (89) |
| Other | — | (25) | 17 |
| Net cash used in financing activities | (1,956) | (2,864) | (2,962) |
| INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | 59 | (159) | (896) |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period (1) | 366 | 525 | 1,421 |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period (1) | $425 | $366 | $525 |
(1)The 2024 amounts include beginning restricted cash of $28 million at December 31, 2023 and ending restricted cash of $29 million at December 31, 2024, which we present in the “Prepaid expenses and other” and “Other noncurrent assets” captions of our Balance Sheets.
(2)We reclassified depreciation and amortization classified in reimbursed expenses from the “Other” caption within operating activities to the “Depreciation, amortization, and other” caption of our Statements of Cash Flows. We reclassified prior period amounts, which totaled $159 million in 2023 and $118 million in 2022, to conform to our current presentation.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.