$PK
Park Hotels & Resorts Inc.

2018 Q3 Form 10-Q Financial Statement

#000156459018026491 Filed on November 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $652.0M $688.0M
YoY Change -5.23% 2.53%
Cost Of Revenue $224.0M $241.0M
YoY Change -7.05% 1.69%
Gross Profit $428.0M $447.0M
YoY Change -4.25% 3.0%
Gross Profit Margin 65.64% 64.97%
Selling, General & Admin $259.0M $264.0M
YoY Change -1.89% 14.78%
% of Gross Profit 60.51% 59.06%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $69.00M $74.00M
YoY Change -6.76% 1.37%
% of Gross Profit 16.12% 16.55%
Operating Expenses $347.0M $358.0M
YoY Change -3.07% 10.49%
Operating Profit $84.00M $89.00M
YoY Change -5.62% -19.09%
Interest Expense $32.00M $32.00M
YoY Change 0.0% -176.19%
% of Operating Profit 38.1% 35.96%
Other Income/Expense, Net $19.00M $18.00M
YoY Change 5.56% -460.0%
Pretax Income $55.00M $61.00M
YoY Change -9.84% -3.17%
Income Tax $0.00 -$44.00M
% Of Pretax Income 0.0% -72.13%
Net Earnings $52.00M $103.0M
YoY Change -49.51% 202.94%
Net Earnings / Revenue 7.98% 14.97%
Basic Earnings Per Share $0.26 $0.48
Diluted Earnings Per Share $0.26 $0.48
COMMON SHARES
Basic Shares Outstanding 200.0M 214.0M
Diluted Shares Outstanding 201.0M 215.0M

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $399.0M $357.0M
YoY Change 11.76% 3.18%
Cash & Equivalents $415.0M $377.0M
Short-Term Investments
Other Short-Term Assets $62.00M $48.00M
YoY Change 29.17% 11.63%
Inventory
Prepaid Expenses
Receivables $176.0M $158.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $637.0M $563.0M
YoY Change 13.14% 3.3%
LONG-TERM ASSETS
Property, Plant & Equipment $7.974B $8.464B
YoY Change -5.79% -1.27%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $53.00M $85.00M
YoY Change -37.65% -15.0%
Other Assets $16.00M $20.00M
YoY Change -20.0% -74.68%
Total Long-Term Assets $8.718B $9.240B
YoY Change -5.65% -1.95%
TOTAL ASSETS
Total Short-Term Assets $637.0M $563.0M
Total Long-Term Assets $8.718B $9.240B
Total Assets $9.355B $9.803B
YoY Change -4.57% -1.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $198.0M $178.0M
YoY Change 11.24% 0.56%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $449.0M $481.0M
YoY Change -6.65% 73.65%
LONG-TERM LIABILITIES
Long-Term Debt $2.948B $3.015B
YoY Change -2.22% -1.89%
Other Long-Term Liabilities $198.0M $210.0M
YoY Change -5.71% 110.0%
Total Long-Term Liabilities $3.146B $3.225B
YoY Change -2.45% 1.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $449.0M $481.0M
Total Long-Term Liabilities $3.146B $3.225B
Total Liabilities $3.627B $3.733B
YoY Change -2.84% -36.46%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.587B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.774B $6.070B
YoY Change
Total Liabilities & Shareholders Equity $9.355B $9.803B
YoY Change -4.57% -1.67%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $52.00M $103.0M
YoY Change -49.51% 202.94%
Depreciation, Depletion And Amortization $69.00M $74.00M
YoY Change -6.76% 1.37%
Cash From Operating Activities $147.0M $184.0M
YoY Change -20.11% 145.33%
INVESTING ACTIVITIES
Capital Expenditures -$47.00M -$39.00M
YoY Change 20.51% -7.14%
Acquisitions
YoY Change
Other Investing Activities $53.00M $0.00
YoY Change
Cash From Investing Activities $6.000M -$39.00M
YoY Change -115.38% -7.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -175.0M -93.00M
YoY Change 88.17% -180.87%
NET CHANGE
Cash From Operating Activities 147.0M 184.0M
Cash From Investing Activities 6.000M -39.00M
Cash From Financing Activities -175.0M -93.00M
Net Change In Cash -22.00M 52.00M
YoY Change -142.31% -64.86%
FREE CASH FLOW
Cash From Operating Activities $147.0M $184.0M
Capital Expenditures -$47.00M -$39.00M
Free Cash Flow $194.0M $223.0M
YoY Change -13.0% 90.6%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2017Q4 us-gaap Assets Held For Sale Not Part Of Disposal Group
AssetsHeldForSaleNotPartOfDisposalGroup
37000000
CY2017Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
84000000
CY2017Q4 us-gaap Goodwill
Goodwill
606000000
CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
41000000
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
364000000
CY2017Q4 us-gaap Restricted Cash
RestrictedCash
15000000
CY2017Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
125000000
CY2017Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
48000000
CY2017Q4 us-gaap Other Assets
OtherAssets
83000000
CY2017Q3 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
55000000
CY2017Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-44000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2344000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
226000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13000000
CY2018Q3 us-gaap Profit Loss
ProfitLoss
55000000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
106000000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3000000
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
61000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
435000000
CY2017Q3 pk Management And Franchise Fees
ManagementAndFranchiseFees
34000000
us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
157000000
us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
157000000
CY2018Q3 pk Management And Franchise Fees
ManagementAndFranchiseFees
32000000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
106000000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-3000000
us-gaap Share Based Compensation
ShareBasedCompensation
11000000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
3000000
CY2018Q3 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
54000000
CY2017Q3 us-gaap Profit Loss
ProfitLoss
105000000
us-gaap Profit Loss
ProfitLoss
422000000
CY2018Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3000000
CY2017Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2000000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
52000000
us-gaap Share Based Compensation
ShareBasedCompensation
12000000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
3000000
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
12000000
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
14000000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-2360000000
CY2018Q3 us-gaap Liabilities
Liabilities
3627000000
CY2018Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2018Q3 us-gaap Common Stock Value
CommonStockValue
2000000
CY2018Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
3585000000
CY2018Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
69000000
CY2018Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
6000000000
CY2018Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
201260724
CY2018Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
201168698
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
652000000
pk Management And Franchise Fees
ManagementAndFranchiseFees
104000000
pk Management And Franchise Fees
ManagementAndFranchiseFees
107000000
CY2018Q3 pk Casualty Gain Loss And Impairment Loss Net
CasualtyGainLossAndImpairmentLossNet
-1000000
CY2017Q3 pk Casualty Gain Loss And Impairment Loss Net
CasualtyGainLossAndImpairmentLossNet
2000000
pk Casualty Gain Loss And Impairment Loss Net
CasualtyGainLossAndImpairmentLossNet
-1000000
pk Casualty Gain Loss And Impairment Loss Net
CasualtyGainLossAndImpairmentLossNet
2000000
us-gaap Costs And Expenses
CostsAndExpenses
1799000000
CY2017Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15000000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
47000000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
45000000
CY2018Q3 us-gaap Other Expenses
OtherExpenses
19000000
CY2017Q3 us-gaap Other Expenses
OtherExpenses
18000000
CY2017Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
74000000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
208000000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
217000000
CY2018Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
16000000
us-gaap Other Expenses
OtherExpenses
54000000
us-gaap Other Expenses
OtherExpenses
46000000
CY2018Q3 us-gaap Costs And Expenses
CostsAndExpenses
570000000
CY2017Q3 us-gaap Costs And Expenses
CostsAndExpenses
599000000
us-gaap Costs And Expenses
CostsAndExpenses
1742000000
us-gaap Operating Income Loss
OperatingIncomeLoss
306000000
CY2018Q3 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
2000000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
98000000
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
84000000
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
89000000
us-gaap Operating Income Loss
OperatingIncomeLoss
407000000
CY2018Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
2000000
CY2017Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
1000000
us-gaap Investment Income Interest
InvestmentIncomeInterest
4000000
us-gaap Investment Income Interest
InvestmentIncomeInterest
2000000
CY2018Q3 us-gaap Interest Expense
InterestExpense
32000000
CY2017Q3 us-gaap Interest Expense
InterestExpense
32000000
us-gaap Interest Expense
InterestExpense
94000000
us-gaap Interest Expense
InterestExpense
93000000
CY2018Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
4000000
CY2017Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
6000000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
16000000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
18000000
CY2018Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-1000000
CY2017Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-1000000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-4000000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-4000000
CY2018Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2000000
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2000000
CY2018Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
55000000
us-gaap Profit Loss
ProfitLoss
2570000000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
4000000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
5000000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
103000000
us-gaap Net Income Loss
NetIncomeLoss
418000000
us-gaap Net Income Loss
NetIncomeLoss
2565000000
CY2018Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1000000
CY2017Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
8000000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
36000000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
22000000
CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1000000
CY2017Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
8000000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
36000000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
22000000
CY2018Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
54000000
CY2017Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
113000000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
458000000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
2592000000
CY2018Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
3000000
CY2017Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
2000000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
4000000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
5000000
CY2018Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
51000000
CY2017Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
111000000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
454000000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2587000000
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
CY2017Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.48
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
12.16
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
CY2017Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.48
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
11.94
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
200000000
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
214000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
204000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
210000000
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
201000000
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
215000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
205000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
214000000
CY2018Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2017Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.74
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.29
CY2018Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
1000000
CY2017Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0
pk Casualty Gain Loss And Impairment Loss Net Operating Activities
CasualtyGainLossAndImpairmentLossNetOperatingActivities
-1000000
us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-4000000
us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-4000000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-3000000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
142000000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-14000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
295000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
458000000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
133000000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
125000000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
369000000
us-gaap Proceeds From Divestiture Of Interest In Subsidiaries And Affiliates
ProceedsFromDivestitureOfInterestInSubsidiariesAndAffiliates
150000000
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
87000000
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
1000000
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
1000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
473000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-125000000
us-gaap Payments Of Dividends
PaymentsOfDividends
379000000
us-gaap Payments Of Dividends
PaymentsOfDividends
294000000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
1000000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
3000000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2000000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2000000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
348000000
pk Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Net Cash
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesNetCash
9000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-730000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-308000000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-2000000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2000000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
36000000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
27000000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
379000000
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
350000000
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
415000000
CY2017Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
377000000
us-gaap Transfer Of Investments
TransferOfInvestments
3000000
us-gaap Transfer Of Investments
TransferOfInvestments
4000000
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5757000000
CY2018Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4000000
CY2018Q3 us-gaap Dividends
Dividends
87000000
pk Dividends Paid With Stock
DividendsPaidWithStock
441000000
CY2018Q3 us-gaap Dividends Payable Current
DividendsPayableCurrent
86000000
CY2018Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3000000
CY2018Q1 us-gaap Profit Loss
ProfitLoss
149000000
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
37000000
CY2018Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
348000000
CY2018Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3000000
CY2018Q2 us-gaap Profit Loss
ProfitLoss
218000000
CY2018Q2 us-gaap Dividends
Dividends
178000000
CY2018Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
1000000
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3823000000
CY2017Q1 us-gaap Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Net
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesNet
9000000
CY2017Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2000000
CY2017Q1 us-gaap Profit Loss
ProfitLoss
2350000000
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
7000000
CY2017Q1 us-gaap Dividends
Dividends
202000000
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5971000000
CY2017Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3000000
CY2017Q2 us-gaap Profit Loss
ProfitLoss
115000000
CY2017Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
7000000
CY2017Q2 us-gaap Dividends
Dividends
93000000
CY2017Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
2000000
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6001000000
CY2017Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4000000
CY2017Q3 us-gaap Dividends
Dividends
94000000
CY2017Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
1000000
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6023000000
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">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. </p></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Reclassifications</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Certain line items on the condensed consolidated statements of comprehensive income for the three and nine months ended September 30, 2017 and condensed consolidated statements of cash flows for the nine months ended September 30, 2017 have been reclassified to conform to the current period presentation.</p></div>
CY2018Q3 pk Number Of Hotel Portfolio Properties Sold
NumberOfHotelPortfolioPropertiesSold
12
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
379000000
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
98000000
pk Reclassification Of Currency Translation Adjustment From Accumulated Other Comprehensive Loss To Earnings On Disposition Of Hotel Portfolio Properties
ReclassificationOfCurrencyTranslationAdjustmentFromAccumulatedOtherComprehensiveLossToEarningsOnDispositionOfHotelPortfolioProperties
31000000
CY2018Q3 us-gaap Land
Land
3333000000
CY2017Q4 us-gaap Land
Land
3364000000
CY2018Q3 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
5705000000
CY2017Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
5911000000
CY2018Q3 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
971000000
CY2017Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
966000000
CY2018Q3 us-gaap Construction In Progress Gross
ConstructionInProgressGross
125000000
CY2017Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
117000000
CY2018Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10134000000
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10358000000
CY2018Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2160000000
CY2017Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2047000000
CY2017Q4 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment
31000000
CY2018Q3 us-gaap Depreciation Nonproduction
DepreciationNonproduction
66000000
CY2017Q3 us-gaap Depreciation Nonproduction
DepreciationNonproduction
72000000
us-gaap Depreciation Nonproduction
DepreciationNonproduction
205000000
us-gaap Depreciation Nonproduction
DepreciationNonproduction
213000000
CY2017Q4 us-gaap Capital Leases Balance Sheet Assets By Major Class Net
CapitalLeasesBalanceSheetAssetsByMajorClassNet
20000000
CY2018Q3 us-gaap Capital Leases Balance Sheet Assets By Major Class Net
CapitalLeasesBalanceSheetAssetsByMajorClassNet
1000000
CY2017Q4 us-gaap Capital Leases Lessee Balance Sheet Assets By Major Class Accumulated Deprecation
CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation
10000000
CY2018Q3 us-gaap Capital Leases Lessee Balance Sheet Assets By Major Class Accumulated Deprecation
CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation
0
CY2018Q3 pk Number Of Consolidated Variable Interest Entities
NumberOfConsolidatedVariableInterestEntities
3
CY2018Q3 pk Unconsolidated Affiliate Debt
UnconsolidatedAffiliateDebt
956000000
CY2017Q4 pk Unconsolidated Affiliate Debt
UnconsolidatedAffiliateDebt
962000000
CY2018Q3 pk Longterm Debt And Capital Lease Obligations Gross
LongtermDebtAndCapitalLeaseObligationsGross
2958000000
CY2017Q4 pk Longterm Debt And Capital Lease Obligations Gross
LongtermDebtAndCapitalLeaseObligationsGross
2973000000
CY2018Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
10000000
CY2017Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
12000000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
13000000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
751000000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
32000000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
2162000000
CY2018Q3 us-gaap Long Term Debt
LongTermDebt
2958000000
pk Income Tax Expense Benefit Built In Gains Losses
IncomeTaxExpenseBenefitBuiltInGainsLosses
6000000
CY2017Q3 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability
-48000000
us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability
-2360000000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.200
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.240
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.024
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.027
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y
CY2017Q3 pk Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasicAndDiluted
1000000
pk Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasicAndDiluted
1000000
pk Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasicAndDiluted
7000000
CY2018Q3 pk Net Income Attributable To Stockholders Net Of Earnings Allocated To Participating Securities
NetIncomeAttributableToStockholdersNetOfEarningsAllocatedToParticipatingSecurities
52000000
CY2017Q3 pk Net Income Attributable To Stockholders Net Of Earnings Allocated To Participating Securities
NetIncomeAttributableToStockholdersNetOfEarningsAllocatedToParticipatingSecurities
102000000
pk Net Income Attributable To Stockholders Net Of Earnings Allocated To Participating Securities
NetIncomeAttributableToStockholdersNetOfEarningsAllocatedToParticipatingSecurities
417000000
pk Net Income Attributable To Stockholders Net Of Earnings Allocated To Participating Securities
NetIncomeAttributableToStockholdersNetOfEarningsAllocatedToParticipatingSecurities
2558000000
CY2018Q3 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
1000000
CY2017Q3 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
1000000
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
1000000
pk Incremental Common Shares Attributable To Dilutive Net Effect Of Shares Issued With Respect To E And P Dividend
IncrementalCommonSharesAttributableToDilutiveNetEffectOfSharesIssuedWithRespectToEAndPDividend
4000000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2018Q3 pk Adjusted Ebitda
AdjustedEbitda
171000000
CY2017Q3 pk Adjusted Ebitda
AdjustedEbitda
183000000
pk Adjusted Ebitda
AdjustedEbitda
573000000
pk Adjusted Ebitda
AdjustedEbitda
576000000
CY2018Q3 pk Other Items
OtherItems
5000000
CY2017Q3 pk Other Items
OtherItems
3000000
pk Other Items
OtherItems
9000000
pk Other Items
OtherItems
7000000
CY2018Q3 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
31000000

Files In Submission

Name View Source Status
0001564590-18-026491-index-headers.html Edgar Link pending
0001564590-18-026491-index.html Edgar Link pending
0001564590-18-026491.txt Edgar Link pending
0001564590-18-026491-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
pk-10q_20180930.htm Edgar Link pending
pk-20180930.xml Edgar Link completed
pk-20180930.xsd Edgar Link pending
pk-20180930_cal.xml Edgar Link unprocessable
pk-20180930_def.xml Edgar Link unprocessable
pk-20180930_lab.xml Edgar Link unprocessable
pk-20180930_pre.xml Edgar Link unprocessable
pk-ex311_9.htm Edgar Link pending
pk-ex312_7.htm Edgar Link pending
pk-ex321_8.htm Edgar Link pending
pk-ex322_6.htm Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending