$PK
Park Hotels & Resorts Inc.

2023 Q2 Form 10-Q Financial Statement

#000095017023016228 Filed on May 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $714.0M $648.0M $479.0M
YoY Change 2.73% 35.28% 190.3%
Cost Of Revenue $245.0M $234.0M $172.0M
YoY Change 12.9% 36.05% 207.14%
Gross Profit $469.0M $414.0M $307.0M
YoY Change -1.88% 34.85% 181.65%
Gross Profit Margin 65.69% 63.89% 64.09%
Selling, General & Admin $278.0M $264.0M $221.0M
YoY Change 2.58% 19.46% 46.36%
% of Gross Profit 59.28% 63.77% 71.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $64.00M $64.00M $69.00M
YoY Change -5.88% -7.25% -6.76%
% of Gross Profit 13.65% 15.46% 22.48%
Operating Expenses $364.0M $348.0M $306.0M
YoY Change 1.96% 13.73% 31.9%
Operating Profit $105.0M $80.00M $1.000M
YoY Change -11.76% 7900.0% -100.81%
Interest Expense -$48.00M $60.00M $62.00M
YoY Change -177.42% -3.23% -1.59%
% of Operating Profit -45.71% 75.0% 6200.0%
Other Income/Expense, Net $22.00M $20.00M $16.00M
YoY Change 22.22% 25.0% 128.57%
Pretax Income -$143.0M $35.00M -$56.00M
YoY Change -192.26% -162.5% -70.53%
Income Tax $3.000M $2.000M $0.00
% Of Pretax Income 5.71%
Net Earnings -$150.0M $33.00M -$57.00M
YoY Change -200.0% -157.89% -70.0%
Net Earnings / Revenue -21.01% 5.09% -11.9%
Basic Earnings Per Share -$0.70 $0.15 -$0.24
Diluted Earnings Per Share -$0.70 $0.15 -$0.24
COMMON SHARES
Basic Shares Outstanding 215.6M 222.1M 235.0M
Diluted Shares Outstanding 215.0M 221.0M 235.0M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $797.0M $842.0M $639.0M
YoY Change 5.15% 31.77% -26.38%
Cash & Equivalents $797.0M $842.0M $639.0M
Short-Term Investments
Other Short-Term Assets $83.00M $55.00M $58.00M
YoY Change 112.82% -5.17% 65.71%
Inventory
Prepaid Expenses
Receivables $134.0M $130.0M $106.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.014B $1.027B $803.0M
YoY Change 7.19% 27.9% -14.67%
LONG-TERM ASSETS
Property, Plant & Equipment $8.207B $8.198B $8.465B
YoY Change -1.43% -3.15% -7.23%
Goodwill
YoY Change
Intangibles $43.00M $43.00M $44.00M
YoY Change 0.0% -2.27% 0.0%
Long-Term Investments $16.00M
YoY Change 14.29%
Other Assets $45.00M $33.00M $78.00M
YoY Change -61.21% -57.69% 143.75%
Total Long-Term Assets $8.330B $8.526B $8.900B
YoY Change -4.85% -4.2% -6.25%
TOTAL ASSETS
Total Short-Term Assets $1.014B $1.027B $803.0M
Total Long-Term Assets $8.330B $8.526B $8.900B
Total Assets $9.344B $9.553B $9.703B
YoY Change -3.68% -1.55% -7.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $279.0M $244.0M $200.0M
YoY Change 32.23% 22.0% 2.04%
Accrued Expenses $228.0M $231.0M $250.0M
YoY Change -7.69% -7.6% 4.17%
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 $638.0M $592.0M $563.0M
YoY Change 9.62% 5.15% 9.11%
LONG-TERM LIABILITIES
Long-Term Debt $4.490B $4.566B $4.671B
YoY Change -3.87% -2.25% -8.79%
Other Long-Term Liabilities $203.0M $207.0M $184.0M
YoY Change 21.56% 12.5% 37.31%
Total Long-Term Liabilities $4.693B $4.773B $4.855B
YoY Change -3.0% -1.69% -7.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $638.0M $592.0M $563.0M
Total Long-Term Liabilities $4.693B $4.773B $4.855B
Total Liabilities $5.286B $5.365B $5.418B
YoY Change -2.47% -0.98% -6.28%
SHAREHOLDERS EQUITY
Retained Earnings -$165.0M $19.00M -$142.0M
YoY Change -2850.0% -113.38% -176.76%
Common Stock $4.223B $4.218B $4.475B
YoY Change -2.31% -5.74% -1.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.058B $4.237B $4.333B
YoY Change
Total Liabilities & Shareholders Equity $9.344B $9.553B $9.703B
YoY Change -3.68% -1.55% -7.01%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$150.0M $33.00M -$57.00M
YoY Change -200.0% -157.89% -70.0%
Depreciation, Depletion And Amortization $64.00M $64.00M $69.00M
YoY Change -5.88% -7.25% -6.76%
Cash From Operating Activities $146.0M $104.0M $44.00M
YoY Change -0.68% 136.36% -161.97%
INVESTING ACTIVITIES
Capital Expenditures $70.00M $54.00M $21.00M
YoY Change -325.81% 157.14% 320.0%
Acquisitions
YoY Change
Other Investing Activities $1.000M $103.0M $0.00
YoY Change -99.5% -100.0%
Cash From Investing Activities -$69.00M $49.00M -$21.00M
YoY Change -141.07% -333.33% 600.0%
FINANCING ACTIVITIES
Cash Dividend Paid $56.00M $0.00
YoY Change
Common Stock Issuance & Retirement, Net $61.00M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -110.0M -217.0M -69.00M
YoY Change -33.33% 214.49% 885.71%
NET CHANGE
Cash From Operating Activities 146.0M 104.0M 44.00M
Cash From Investing Activities -69.00M 49.00M -21.00M
Cash From Financing Activities -110.0M -217.0M -69.00M
Net Change In Cash -33.00M -64.00M -46.00M
YoY Change -122.0% 39.13% -43.21%
FREE CASH FLOW
Cash From Operating Activities $146.0M $104.0M $44.00M
Capital Expenditures $70.00M $54.00M $21.00M
Free Cash Flow $76.00M $50.00M $23.00M
YoY Change -57.3% 117.39% -130.26%

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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
939000000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
763000000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
875000000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
717000000
CY2023Q1 us-gaap Dividends Payable Current
DividendsPayableCurrent
32000000
CY2022Q1 us-gaap Dividends Payable Current
DividendsPayableCurrent
2000000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4291000000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2000000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
33000000
CY2023Q1 us-gaap Dividends
Dividends
32000000
CY2023Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
1000000
CY2023Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
105000000
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4188000000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4403000000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1000000
CY2022Q1 us-gaap Profit Loss
ProfitLoss
-56000000
CY2022Q1 us-gaap Dividends
Dividends
2000000
CY2022Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
61000000
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4285000000
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.15
CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.01
CY2022Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
994000000
CY2023Q1 us-gaap Construction In Progress Gross
ConstructionInProgressGross
211000000
CY2022Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
201000000
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:8.0pt;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:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:8.0pt;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">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>
CY2023Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Reclassifications</span></p><p style="margin-left:4.533%;text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.0%;font-size:10.0pt;margin-top:0.0pt;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Certain line items on the audited condensed consolidated balance sheet as of December 31, 2022 have been reclassified to conform to the current period presentation.</span></p>
CY2023Q1 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
15000000
CY2023Q1 us-gaap Land
Land
3272000000
CY2022Q4 us-gaap Land
Land
3317000000
CY2023Q1 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
6469000000
CY2022Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
6512000000
CY2023Q1 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
993000000
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10945000000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11024000000
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2747000000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2723000000
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8198000000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8301000000
CY2023Q1 us-gaap Depreciation Nonproduction
DepreciationNonproduction
64000000
CY2022Q1 us-gaap Depreciation Nonproduction
DepreciationNonproduction
68000000
CY2023Q1 pk Number Of Consolidated Variable Interest Entities
NumberOfConsolidatedVariableInterestEntities
3
CY2023Q1 pk Number Of Unconsolidated Joint Ventures
NumberOfUnconsolidatedJointVentures
4
CY2022Q4 pk Number Of Unconsolidated Joint Ventures
NumberOfUnconsolidatedJointVentures
4
CY2023Q1 pk Unconsolidated Affiliate Debt
UnconsolidatedAffiliateDebt
721000000
CY2022Q4 pk Unconsolidated Affiliate Debt
UnconsolidatedAffiliateDebt
721000000
CY2023Q1 pk Longterm Debt And Financing Lease Obligations Gross
LongtermDebtAndFinancingLeaseObligationsGross
4592000000
CY2022Q4 pk Longterm Debt And Financing Lease Obligations Gross
LongtermDebtAndFinancingLeaseObligationsGross
4644000000
CY2023Q1 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
2000000
CY2022Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
3000000
CY2023Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
28000000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
30000000
CY2023Q1 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
4566000000
CY2022Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
4617000000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
861000000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
7000000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
657000000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1563000000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
30000000
CY2023Q1 pk Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
1474000000
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
4592000000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4000000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
32000000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y1M6D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
6000000
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
6000000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.480
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.043
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y
CY2023Q1 pk Net Income Attributable To Stockholders Net Of Earnings Allocated To Participating Securities
NetIncomeAttributableToStockholdersNetOfEarningsAllocatedToParticipatingSecurities
33000000
CY2022Q1 pk Net Income Attributable To Stockholders Net Of Earnings Allocated To Participating Securities
NetIncomeAttributableToStockholdersNetOfEarningsAllocatedToParticipatingSecurities
-57000000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
220000000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
235000000
CY2023Q1 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
1
CY2022Q1 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
0
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
221000000
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
235000000
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.15
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.24
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.15
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.24
CY2023Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
648000000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
479000000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
33000000
CY2022Q1 us-gaap Profit Loss
ProfitLoss
-56000000
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
64000000
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
69000000
CY2023Q1 pk Corporate General And Administrative Expenses Excluding Severance
CorporateGeneralAndAdministrativeExpensesExcludingSeverance
16000000
CY2022Q1 pk Corporate General And Administrative Expenses Excluding Severance
CorporateGeneralAndAdministrativeExpensesExcludingSeverance
16000000
CY2023Q1 pk Casualty Loss
CasualtyLoss
1000000
CY2022Q1 pk Casualty Loss
CasualtyLoss
0
CY2023Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
20000000
CY2022Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
16000000
CY2023Q1 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
15000000
CY2022Q1 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0
CY2023Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
10000000
CY2022Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
0
CY2023Q1 us-gaap Interest Expense
InterestExpense
60000000
CY2022Q1 us-gaap Interest Expense
InterestExpense
62000000
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
4000000
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2000000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1000000
CY2022Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5000000
CY2023Q1 pk Other Items
OtherItems
-6000000
CY2022Q1 pk Other Items
OtherItems
-3000000
CY2023Q1 pk Adjusted Ebitda
AdjustedEbitda
152000000
CY2022Q1 pk Adjusted Ebitda
AdjustedEbitda
89000000
CY2023Q1 us-gaap Assets
Assets
9553000000
CY2022Q4 us-gaap Assets
Assets
9731000000
CY2023Q1 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
168000000
CY2023Q1 us-gaap Litigation Reserve
LitigationReserve
8000000

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