$PK
Park Hotels & Resorts Inc.

2017 Q4 Form 10-K Financial Statement

#000156459018004101 Filed on March 01, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q1
Revenue $686.0M $688.0M $684.0M
YoY Change 2.39% 2.53% 3.48%
Cost Of Revenue $241.0M $241.0M $245.0M
YoY Change -0.41% 1.69% 1.66%
Gross Profit $445.0M $447.0M $439.0M
YoY Change 3.97% 3.0% 4.52%
Gross Profit Margin 64.87% 64.97% 64.18%
Selling, General & Admin $278.0M $264.0M $257.0M
YoY Change 19.83% 14.78% 8.9%
% of Gross Profit 62.47% 59.06% 58.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $71.00M $74.00M $70.00M
YoY Change -11.25% 1.37% -4.11%
% of Gross Profit 15.96% 16.55% 15.95%
Operating Expenses $355.0M $358.0M $345.0M
YoY Change 4.11% 10.49% 6.15%
Operating Profit $65.00M $89.00M $94.00M
YoY Change -25.29% -19.09% 17.5%
Interest Expense -$9.000M $32.00M $30.00M
YoY Change -81.63% -176.19% -34.78%
% of Operating Profit -13.85% 35.96% 31.91%
Other Income/Expense, Net $3.000M $18.00M $13.00M
YoY Change -116.67% -460.0% -18.75%
Pretax Income $59.00M $61.00M $69.00M
YoY Change 195.0% -3.17% 86.49%
Income Tax $2.374B -$44.00M -$2.281B
% Of Pretax Income 4023.73% -72.13% -3305.8%
Net Earnings $60.00M $103.0M $2.350B
YoY Change 252.94% 202.94% 10581.82%
Net Earnings / Revenue 8.75% 14.97% 343.57%
Basic Earnings Per Share $0.28 $0.48 $11.65
Diluted Earnings Per Share $0.28 $0.48 $11.02
COMMON SHARES
Basic Shares Outstanding 214.0M 202.0M
Diluted Shares Outstanding 215.0M 213.0M

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $364.0M $357.0M $318.0M
YoY Change 24.23% 3.18% 174.14%
Cash & Equivalents $364.0M $377.0M $318.0M
Short-Term Investments
Other Short-Term Assets $48.00M $48.00M $51.00M
YoY Change -17.24% 11.63% 0.0%
Inventory
Prepaid Expenses
Receivables $125.0M $158.0M $180.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $537.0M $563.0M $549.0M
YoY Change 11.64% 3.3% 83.0%
LONG-TERM ASSETS
Property, Plant & Equipment $8.311B $8.464B $8.516B
YoY Change -2.69% -1.27% -1.69%
Goodwill $606.0M $604.0M
YoY Change 0.33%
Intangibles $41.00M $43.00M
YoY Change -6.82%
Long-Term Investments $84.00M $85.00M $82.00M
YoY Change 3.7% -15.0% -16.33%
Other Assets $52.00M $20.00M $18.00M
YoY Change -8.77% -74.68% -80.43%
Total Long-Term Assets $9.177B $9.240B $9.291B
YoY Change -1.88% -1.95% -2.59%
TOTAL ASSETS
Total Short-Term Assets $537.0M $563.0M $549.0M
Total Long-Term Assets $9.177B $9.240B $9.291B
Total Assets $9.714B $9.803B $9.840B
YoY Change -1.22% -1.67% 0.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $215.0M $178.0M $174.0M
YoY Change 28.74% 0.56% -2.25%
Accrued Expenses
YoY Change
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 $481.0M $509.0M
YoY Change 5.56% 73.65% 55.18%
LONG-TERM LIABILITIES
Long-Term Debt $2.961B $3.015B $3.012B
YoY Change -1.69% -1.89% -25.85%
Other Long-Term Liabilities $232.0M $210.0M $202.0M
YoY Change 146.81% 110.0% 102.0%
Total Long-Term Liabilities $3.193B $3.225B $3.214B
YoY Change 2.8% 1.64% -22.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $494.0M $481.0M $509.0M
Total Long-Term Liabilities $3.193B $3.225B $3.214B
Total Liabilities $3.752B $3.733B $3.869B
YoY Change -37.58% -36.46% -44.36%
SHAREHOLDERS EQUITY
Retained Earnings $2.229B $2.258B
YoY Change
Common Stock $3.827B $2.000M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.011B $6.070B $5.971B
YoY Change
Total Liabilities & Shareholders Equity $9.714B $9.803B $9.840B
YoY Change -1.22% -1.67% 0.02%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q1
OPERATING ACTIVITIES
Net Income $60.00M $103.0M $2.350B
YoY Change 252.94% 202.94% 10581.82%
Depreciation, Depletion And Amortization $71.00M $74.00M $70.00M
YoY Change -11.25% 1.37% -4.11%
Cash From Operating Activities $195.0M $184.0M $141.0M
YoY Change 85.71% 145.33% 48.42%
INVESTING ACTIVITIES
Capital Expenditures -$60.00M -$39.00M $37.00M
YoY Change 5.26% -7.14% -43.08%
Acquisitions
YoY Change
Other Investing Activities $20.00M $0.00 $0.00
YoY Change -253.85% -100.0%
Cash From Investing Activities -$40.00M -$39.00M -$37.00M
YoY Change -42.86% -7.14% -24.49%
FINANCING ACTIVITIES
Cash Dividend Paid $110.0M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -151.0M -93.00M -119.0M
YoY Change 46.6% -180.87% 11800.0%
NET CHANGE
Cash From Operating Activities 195.0M 184.0M 141.0M
Cash From Investing Activities -40.00M -39.00M -37.00M
Cash From Financing Activities -151.0M -93.00M -119.0M
Net Change In Cash 4.000M 52.00M -14.00M
YoY Change -105.88% -64.86% -131.11%
FREE CASH FLOW
Cash From Operating Activities $195.0M $184.0M $141.0M
Capital Expenditures -$60.00M -$39.00M $37.00M
Free Cash Flow $255.0M $223.0M $104.0M
YoY Change 57.41% 90.6% 246.67%

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<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:5.24%;">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 revenue and expenses during the reporting period. Actual results could differ from those estimates.</p></div>
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