$MAR
MARRIOTT INTERNATIONAL INC /MD/

2023 Q2 Form 10-Q Financial Statement

#000162828023014793 Filed on May 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $6.075B $5.615B $4.199B
YoY Change 13.81% 33.72% 81.3%
Cost Of Revenue $4.653B $4.417B $3.376B
YoY Change 13.27% 30.84% 71.54%
Gross Profit $1.422B $1.198B $823.0M
YoY Change 15.61% 45.57% 136.49%
Gross Profit Margin 23.41% 21.34% 19.6%
Selling, General & Admin $240.0M $202.0M $208.0M
YoY Change 3.9% -2.88% -1.42%
% of Gross Profit 16.88% 16.86% 25.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $70.00M $65.00M $72.00M
YoY Change 2.94% -9.72% 4.35%
% of Gross Profit 4.92% 5.43% 8.75%
Operating Expenses $288.0M $246.0M $256.0M
YoY Change 2.86% -3.91% -2.66%
Operating Profit $1.134B $951.0M $558.0M
YoY Change 19.37% 70.43% 564.29%
Interest Expense -$132.0M $126.0M $93.00M
YoY Change -238.95% 35.48% -13.08%
% of Operating Profit -11.64% 13.25% 16.67%
Other Income/Expense, Net $2.000M $3.000M $4.000M
YoY Change 0.0% -25.0% 300.0%
Pretax Income $964.0M $844.0M $476.0M
YoY Change 9.79% 77.31% -1862.96%
Income Tax $238.0M $87.00M $99.00M
% Of Pretax Income 24.69% 10.31% 20.8%
Net Earnings $726.0M $757.0M $377.0M
YoY Change 7.08% 100.8% -3527.27%
Net Earnings / Revenue 11.95% 13.48% 8.98%
Basic Earnings Per Share $2.39 $2.44 $1.15
Diluted Earnings Per Share $2.38 $2.43 $1.14
COMMON SHARES
Basic Shares Outstanding 303.4M shares 308.1M shares 328.3M shares
Diluted Shares Outstanding 305.0M shares 311.0M shares 330.0M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $563.0M $554.0M $1.042B
YoY Change 3.11% -46.83% 65.92%
Cash & Equivalents $563.0M $554.0M $1.042B
Short-Term Investments
Other Short-Term Assets $316.0M $248.0M $264.0M
YoY Change 13.67% -6.06% 41.18%
Inventory
Prepaid Expenses
Receivables $2.565B $2.462B $2.112B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.444B $3.264B $3.418B
YoY Change 10.88% -4.51% 27.92%
LONG-TERM ASSETS
Property, Plant & Equipment $2.525B $1.595B $1.531B
YoY Change 64.82% 4.18% 3.31%
Goodwill $8.850B $8.904B $9.069B
YoY Change -0.78% -1.82% -0.42%
Intangibles
YoY Change
Long-Term Investments $311.0M $334.0M $361.0M
YoY Change -14.33% -7.48% -11.95%
Other Assets $822.0M $584.0M $575.0M
YoY Change 43.71% 1.57% -8.73%
Total Long-Term Assets $21.64B $21.60B $21.82B
YoY Change 0.62% -1.01% 0.57%
TOTAL ASSETS
Total Short-Term Assets $3.444B $3.264B $3.418B
Total Long-Term Assets $21.64B $21.60B $21.82B
Total Assets $25.09B $24.86B $25.24B
YoY Change 1.92% -1.49% 3.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $670.0M $722.0M $737.0M
YoY Change -13.32% -2.04% 37.76%
Accrued Expenses $2.584B $2.508B $2.328B
YoY Change 7.35% 7.73% -1.98%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $894.0M $358.0M $731.0M
YoY Change 60.22% -51.03% -11.07%
Total Short-Term Liabilities $7.520B $6.969B $6.422B
YoY Change 9.73% 8.52% 8.59%
LONG-TERM LIABILITIES
Long-Term Debt $10.40B $10.30B $8.738B
YoY Change 26.4% 17.86% -6.9%
Other Long-Term Liabilities $7.103B $1.711B $1.977B
YoY Change 278.83% -13.45% -15.66%
Total Long-Term Liabilities $17.51B $1.711B $1.977B
YoY Change 833.65% -13.45% -15.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.520B $6.969B $6.422B
Total Long-Term Liabilities $17.51B $1.711B $1.977B
Total Liabilities $25.31B $8.680B $8.399B
YoY Change 190.0% 3.35% 1.71%
SHAREHOLDERS EQUITY
Retained Earnings $13.54B $12.98B $10.68B
YoY Change 20.26% 21.47% 16.17%
Common Stock $5.957B $5.911B $5.836B
YoY Change 1.36% 1.29% 0.76%
Preferred Stock
YoY Change
Treasury Stock (at cost) $14.42B
YoY Change -0.31%
Treasury Stock Shares
Shareholders Equity -$224.0M $140.0M $1.772B
YoY Change
Total Liabilities & Shareholders Equity $25.09B $24.86B $25.24B
YoY Change 1.92% -1.49% 3.57%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $726.0M $757.0M $377.0M
YoY Change 7.08% 100.8% -3527.27%
Depreciation, Depletion And Amortization $70.00M $65.00M $72.00M
YoY Change 2.94% -9.72% 4.35%
Cash From Operating Activities $651.0M $887.0M $398.0M
YoY Change 0.15% 122.86% 1374.07%
INVESTING ACTIVITIES
Capital Expenditures $99.00M $95.00M $49.00M
YoY Change -241.43% 93.88% 63.33%
Acquisitions
YoY Change
Other Investing Activities -$85.00M -$6.000M -$19.00M
YoY Change -4350.0% -68.42% -371.43%
Cash From Investing Activities -$184.0M -$59.00M -$23.00M
YoY Change 170.59% 156.52% -20.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $328.0M $401.0M
YoY Change -18.2% -46.68%
Cash From Financing Activities -459.0M -$782.0M -$729.0M
YoY Change -57.58% 7.27% 191.6%
NET CHANGE
Cash From Operating Activities 651.0M $887.0M $398.0M
Cash From Investing Activities -184.0M -$59.00M -$23.00M
Cash From Financing Activities -459.0M -$782.0M -$729.0M
Net Change In Cash 8.000M $46.00M -$354.0M
YoY Change -101.6% -112.99% 40.48%
FREE CASH FLOW
Cash From Operating Activities $651.0M $887.0M $398.0M
Capital Expenditures $99.00M $95.00M $49.00M
Free Cash Flow $552.0M $792.0M $349.0M
YoY Change -23.33% 126.93% -11733.33%

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CY2023Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2023Q1 us-gaap Interest Paid Net
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