$PK
Park Hotels & Resorts Inc.

2021 Q4 Form 10-Q Financial Statement

#000095017021003049 Filed on November 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $451.0M $423.0M $98.00M
YoY Change 299.12% 331.63% -85.42%
Cost Of Revenue $166.0M $139.0M $48.00M
YoY Change 238.78% 189.58% -79.22%
Gross Profit $285.0M $284.0M $50.00M
YoY Change 345.31% 468.0% -88.66%
Gross Profit Margin 63.19% 67.14% 51.02%
Selling, General & Admin $198.0M $203.0M $163.0M
YoY Change 36.55% 24.54% -35.57%
% of Gross Profit 69.47% 71.48% 326.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $68.00M $68.00M $75.00M
YoY Change -6.85% -9.33% 22.95%
% of Gross Profit 23.86% 23.94% 150.0%
Operating Expenses $281.0M $285.0M $244.0M
YoY Change 26.01% 16.8% -27.6%
Operating Profit $4.000M -$14.00M -$206.0M
YoY Change -102.52% -93.2% -642.11%
Interest Expense -$63.00M $66.00M $59.00M
YoY Change -10.0% 11.86% 78.79%
% of Operating Profit -1575.0%
Other Income/Expense, Net $0.00 $14.00M $6.000M
YoY Change -100.0% 133.33% -73.91%
Pretax Income -$61.00M -$85.00M -$275.0M
YoY Change -74.37% -69.09% -3155.56%
Income Tax $4.000M -$3.000M $1.000M
% Of Pretax Income
Net Earnings -$67.00M -$86.00M -$276.0M
YoY Change -69.12% -68.84% -5620.0%
Net Earnings / Revenue -14.86% -20.33% -281.63%
Basic Earnings Per Share -$0.36 -$1.17
Diluted Earnings Per Share -$283.9K -$0.36 -$1.17
COMMON SHARES
Basic Shares Outstanding 236.5M 236.0M 235.0M
Diluted Shares Outstanding 236.0M 235.0M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $688.0M $772.0M $1.134B
YoY Change -27.66% -31.92% 253.27%
Cash & Equivalents $688.0M $772.0M $1.169B
Short-Term Investments
Other Short-Term Assets $35.00M $34.00M $43.00M
YoY Change -10.26% -20.93% -43.42%
Inventory
Prepaid Expenses
Receivables $96.00M $62.00M $36.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $819.0M $868.0M $1.213B
YoY Change -19.39% -28.44% 105.59%
LONG-TERM ASSETS
Property, Plant & Equipment $8.511B $8.549B $9.255B
YoY Change -7.42% -7.63% -7.32%
Goodwill
YoY Change
Intangibles $44.00M $44.00M
YoY Change -2.22%
Long-Term Investments $15.00M $14.00M $17.00M
YoY Change 7.14% -17.65% -67.31%
Other Assets $75.00M $70.00M $35.00M
YoY Change 150.0% 100.0% -18.6%
Total Long-Term Assets $8.924B $8.926B $9.640B
YoY Change -6.76% -7.41% -12.6%
TOTAL ASSETS
Total Short-Term Assets $819.0M $868.0M $1.213B
Total Long-Term Assets $8.924B $8.926B $9.640B
Total Assets $9.743B $9.794B $10.85B
YoY Change -7.97% -9.76% -6.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $156.0M $204.0M $168.0M
YoY Change 6.12% 21.43% -29.11%
Accrued Expenses $227.0M $232.0M $249.0M
YoY Change -6.97% -6.83% -12.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $494.0M $532.0M $519.0M
YoY Change 3.13% 2.5% -33.8%
LONG-TERM LIABILITIES
Long-Term Debt $4.672B $4.670B $5.121B
YoY Change -8.77% -8.81% 24.9%
Other Long-Term Liabilities $165.0M $115.0M $124.0M
YoY Change 23.13% -7.26% -48.55%
Total Long-Term Liabilities $4.837B $4.785B $5.245B
YoY Change -7.95% -8.77% 20.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $494.0M $532.0M $519.0M
Total Long-Term Liabilities $4.837B $4.785B $5.245B
Total Liabilities $5.340B $5.326B $5.749B
YoY Change -7.03% -7.36% 11.26%
SHAREHOLDERS EQUITY
Retained Earnings -$83.00M -$16.00M
YoY Change -122.07%
Common Stock $4.535B $4.531B
YoY Change 0.31%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.452B $4.515B $5.104B
YoY Change
Total Liabilities & Shareholders Equity $9.743B $9.794B $10.85B
YoY Change -7.97% -9.76% -6.6%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$67.00M -$86.00M -$276.0M
YoY Change -69.12% -68.84% -5620.0%
Depreciation, Depletion And Amortization $68.00M $68.00M $75.00M
YoY Change -6.85% -9.33% 22.95%
Cash From Operating Activities -$42.00M $66.00M -$116.0M
YoY Change -74.39% -156.9% -210.48%
INVESTING ACTIVITIES
Capital Expenditures -$26.00M -$15.00M -$14.00M
YoY Change 62.5% 7.14% -77.42%
Acquisitions
YoY Change
Other Investing Activities -$5.000M $286.0M $0.00
YoY Change 400.0% -100.0%
Cash From Investing Activities -$31.00M $271.0M -$14.00M
YoY Change 82.35% -2035.71% -98.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.000M -439.0M -10.00M
YoY Change -14.29% 4290.0% -101.34%
NET CHANGE
Cash From Operating Activities -42.00M 66.00M -116.0M
Cash From Investing Activities -31.00M 271.0M -14.00M
Cash From Financing Activities -6.000M -439.0M -10.00M
Net Change In Cash -79.00M -102.0M -140.0M
YoY Change -57.98% -27.14% 20.69%
FREE CASH FLOW
Cash From Operating Activities -$42.00M $66.00M -$116.0M
Capital Expenditures -$26.00M -$15.00M -$14.00M
Free Cash Flow -$16.00M $81.00M -$102.0M
YoY Change -89.19% -179.41% -161.08%

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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Reclassification For Discontinuance Before Tax
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CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Income Loss From Equity Method Investments
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us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2021Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2021Q3 us-gaap Comprehensive Income Net Of Tax
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CY2020Q3 us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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CY2021Q3 us-gaap Earnings Per Share Basic
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CY2020Q3 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Gain Loss On Disposition Of Assets1
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us-gaap Gain Loss On Disposition Of Assets1
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us-gaap Share Based Compensation
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us-gaap Amortization Of Financing Costs And Discounts
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us-gaap Amortization Of Financing Costs And Discounts
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us-gaap Equity Method Investment Dividends Or Distributions
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Proceeds From Insurance Settlement Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Lines Of Credit
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us-gaap Proceeds From Lines Of Credit
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us-gaap Repayments Of Lines Of Credit
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us-gaap Repayments Of Lines Of Credit
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us-gaap Proceeds From Issuance Of Secured Debt
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us-gaap Payments Of Dividends
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us-gaap Payments Of Dividends
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us-gaap Payments To Minority Shareholders
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us-gaap Payments To Minority Shareholders
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2021Q1 us-gaap Profit Loss
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CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2021Q2 us-gaap Profit Loss
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CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2021Q3 us-gaap Profit Loss
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CY2021Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2020Q1 us-gaap Profit Loss
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CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2020Q1 us-gaap Dividends
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CY2020Q1 us-gaap Stock Repurchased During Period Value
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CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2020Q2 us-gaap Profit Loss
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CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2020Q3 us-gaap Profit Loss
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CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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us-gaap Use Of Estimates
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:8.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;line-height:1.235;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Interim results are not necessarily indicative of full year performance.</span></p>
CY2021Q3 pk Number Of Consolidated Hotel Portfolio Properties Sold
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us-gaap Proceeds From Divestiture Of Businesses
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us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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CY2021Q3 us-gaap Land
Land
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CY2020Q4 us-gaap Land
Land
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CY2021Q3 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
6600000000
CY2020Q4 us-gaap Buildings And Improvements Gross
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6951000000
CY2021Q3 us-gaap Furniture And Fixtures Gross
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1000000000
CY2020Q4 us-gaap Furniture And Fixtures Gross
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CY2021Q3 us-gaap Construction In Progress Gross
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CY2020Q4 us-gaap Construction In Progress Gross
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CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11474000000
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2447000000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2281000000
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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CY2021Q3 us-gaap Depreciation Nonproduction
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68000000
CY2020Q3 us-gaap Depreciation Nonproduction
DepreciationNonproduction
75000000
us-gaap Depreciation Nonproduction
DepreciationNonproduction
212000000
us-gaap Depreciation Nonproduction
DepreciationNonproduction
224000000
us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
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us-gaap Impairment Of Long Lived Assets Held For Use
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90000000
CY2021Q3 pk Number Of Consolidated Variable Interest Entities
NumberOfConsolidatedVariableInterestEntities
3
CY2021Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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14000000
CY2020Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
14000000
CY2021Q3 pk Unconsolidated Affiliate Debt
UnconsolidatedAffiliateDebt
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CY2020Q4 pk Unconsolidated Affiliate Debt
UnconsolidatedAffiliateDebt
943000000
CY2020Q1 us-gaap Goodwill Impairment Loss
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CY2021Q3 pk Longterm Debt And Financing Lease Obligations Gross
LongtermDebtAndFinancingLeaseObligationsGross
4708000000
CY2020Q4 pk Longterm Debt And Financing Lease Obligations Gross
LongtermDebtAndFinancingLeaseObligationsGross
5156000000
CY2021Q3 us-gaap Debt Instrument Unamortized Premium
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CY2021Q3 us-gaap Debt Instrument Unamortized Discount
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CY2020Q4 us-gaap Debt Instrument Unamortized Discount
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CY2021Q3 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
4670000000
CY2020Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
5121000000
CY2020Q2 pk Debt Instrument Libor Floor
DebtInstrumentLIBORFloor
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CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
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2000000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
98000000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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657000000
CY2021Q3 pk Long Term Debt Maturities Repayments Of Principal After Year Four
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3037000000
CY2021Q3 us-gaap Long Term Debt
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CY2020 pk Percentage Of Adjusted Taxable Income
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pk Percentage Of Adjusted Taxable Income
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us-gaap Income Tax Expense Benefit
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us-gaap State And Local Income Tax Expense Benefit Continuing Operations
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CY2021Q3 pk Income Tax Expense Benefit From Deferred Tax Liabilities
IncomeTaxExpenseBenefitFromDeferredTaxLiabilities
-1000000
CY2021Q3 pk Income Tax Expense Benefit From Nol Carryback
IncomeTaxExpenseBenefitFromNolCarryback
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14000000
pk Income Tax Expense Benefit Built In Gains Losses
IncomeTaxExpenseBenefitBuiltInGainsLosses
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us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
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pk Income Tax Benefit Partially Offset By Trs
IncomeTaxBenefitPartiallyOffsetByTRS
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.600
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.002
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
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CY2021Q3 us-gaap Net Income Loss
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CY2020Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2021Q3 pk Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasicAndDiluted
0
CY2020Q3 pk Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasicAndDiluted
0
pk Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasicAndDiluted
0
pk Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasicAndDiluted
0
CY2021Q3 pk Net Income Attributable To Stockholders Net Of Earnings Allocated To Participating Securities
NetIncomeAttributableToStockholdersNetOfEarningsAllocatedToParticipatingSecurities
-86000000
CY2020Q3 pk Net Income Attributable To Stockholders Net Of Earnings Allocated To Participating Securities
NetIncomeAttributableToStockholdersNetOfEarningsAllocatedToParticipatingSecurities
-276000000
pk Net Income Attributable To Stockholders Net Of Earnings Allocated To Participating Securities
NetIncomeAttributableToStockholdersNetOfEarningsAllocatedToParticipatingSecurities
-392000000
pk Net Income Attributable To Stockholders Net Of Earnings Allocated To Participating Securities
NetIncomeAttributableToStockholdersNetOfEarningsAllocatedToParticipatingSecurities
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CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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236000000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
235000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
236000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
236000000
CY2021Q3 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
0
CY2020Q3 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
0
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
0
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
0
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
236000000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
235000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
236000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
236000000
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.36
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.17
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.66
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.36
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.19
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.17
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.66
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.19
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
423000000
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
98000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
911000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
739000000
CY2021Q3 us-gaap Profit Loss
ProfitLoss
-82000000
CY2020Q3 us-gaap Profit Loss
ProfitLoss
-276000000
us-gaap Profit Loss
ProfitLoss
-387000000
us-gaap Profit Loss
ProfitLoss
-1226000000
CY2021Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
68000000
CY2020Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
75000000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
213000000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
225000000
CY2021Q3 pk Corporate General And Administrative Expenses Excluding Severance
CorporateGeneralAndAdministrativeExpensesExcludingSeverance
14000000
CY2020Q3 pk Corporate General And Administrative Expenses Excluding Severance
CorporateGeneralAndAdministrativeExpensesExcludingSeverance
13000000
pk Corporate General And Administrative Expenses Excluding Severance
CorporateGeneralAndAdministrativeExpensesExcludingSeverance
48000000
pk Corporate General And Administrative Expenses Excluding Severance
CorporateGeneralAndAdministrativeExpensesExcludingSeverance
40000000
CY2021Q3 pk Impairment Loss And Casualty Gain Loss Net
ImpairmentLossAndCasualtyGainLossNet
2000000
CY2020Q3 pk Impairment Loss And Casualty Gain Loss Net
ImpairmentLossAndCasualtyGainLossNet
2000000
pk Impairment Loss And Casualty Gain Loss Net
ImpairmentLossAndCasualtyGainLossNet
7000000
pk Impairment Loss And Casualty Gain Loss Net
ImpairmentLossAndCasualtyGainLossNet
696000000
CY2021Q3 us-gaap Acquisition Costs
AcquisitionCosts
0
CY2020Q3 us-gaap Acquisition Costs
AcquisitionCosts
9000000
us-gaap Acquisition Costs
AcquisitionCosts
0
us-gaap Acquisition Costs
AcquisitionCosts
10000000
CY2021Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
14000000
CY2020Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
6000000
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
34000000
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
31000000
CY2021Q3 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-11000000
CY2020Q3 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-1000000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-5000000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
62000000
CY2021Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
0
CY2020Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
0
us-gaap Investment Income Interest
InvestmentIncomeInterest
0
us-gaap Investment Income Interest
InvestmentIncomeInterest
2000000
CY2021Q3 us-gaap Interest Expense
InterestExpense
66000000
CY2020Q3 us-gaap Interest Expense
InterestExpense
59000000
us-gaap Interest Expense
InterestExpense
195000000
us-gaap Interest Expense
InterestExpense
149000000
pk Other Items
OtherItems
-9000000
CY2021Q3 pk Adjusted Ebitda
AdjustedEbitda
84000000
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2000000
CY2021Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-0
CY2020Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-7000000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-6000000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-16000000
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-3000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14000000
CY2021Q3 us-gaap Severance Costs1
SeveranceCosts1
0
CY2020Q3 us-gaap Severance Costs1
SeveranceCosts1
-24000000
us-gaap Severance Costs1
SeveranceCosts1
0
us-gaap Severance Costs1
SeveranceCosts1
-26000000
CY2021Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-5000000
CY2020Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3000000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-7000000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-6000000
CY2021Q3 pk Other Items
OtherItems
-4000000
CY2020Q3 pk Other Items
OtherItems
-3000000
pk Other Items
OtherItems
1000000
CY2020Q3 pk Adjusted Ebitda
AdjustedEbitda
-76000000
pk Adjusted Ebitda
AdjustedEbitda
90000000
pk Adjusted Ebitda
AdjustedEbitda
-93000000
CY2021Q3 us-gaap Assets
Assets
9794000000
CY2020Q4 us-gaap Assets
Assets
10587000000
CY2021Q3 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
116000000

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