$PK
Park Hotels & Resorts Inc.

2019 Q2 Form 10-Q Financial Statement

#000156459019027994 Filed on August 01, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $703.0M $731.0M
YoY Change -3.83% -0.27%
Cost Of Revenue $243.0M $243.0M
YoY Change 0.0% -2.8%
Gross Profit $460.0M $488.0M
YoY Change -5.74% 1.04%
Gross Profit Margin 65.43% 66.76%
Selling, General & Admin $258.0M $259.0M
YoY Change -0.39% -3.36%
% of Gross Profit 56.09% 53.07%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $61.00M $69.00M
YoY Change -11.59% -5.48%
% of Gross Profit 13.26% 14.14%
Operating Expenses $337.0M $346.0M
YoY Change -2.6% -3.89%
Operating Profit $111.0M $149.0M
YoY Change -25.5% 21.14%
Interest Expense $33.00M $31.00M
YoY Change 6.45% 0.0%
% of Operating Profit 29.73% 20.81%
Other Income/Expense, Net $18.00M $18.00M
YoY Change 0.0% 20.0%
Pretax Income $89.00M $231.0M
YoY Change -61.47% 140.63%
Income Tax $5.000M $13.00M
% Of Pretax Income 5.62% 5.63%
Net Earnings $82.00M $216.0M
YoY Change -62.04% 92.86%
Net Earnings / Revenue 11.66% 29.55%
Basic Earnings Per Share $0.40 $1.07
Diluted Earnings Per Share $0.40 $1.07
COMMON SHARES
Basic Shares Outstanding 201.0M 200.0M
Diluted Shares Outstanding 202.0M 201.0M

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $310.0M $421.0M
YoY Change -26.37% 37.58%
Cash & Equivalents $310.0M $438.0M
Short-Term Investments
Other Short-Term Assets $88.00M $46.00M
YoY Change 91.3% -13.21%
Inventory
Prepaid Expenses
Receivables $186.0M $180.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $584.0M $647.0M
YoY Change -9.74% 18.28%
LONG-TERM ASSETS
Property, Plant & Equipment $7.764B $7.999B
YoY Change -2.94% -5.84%
Goodwill $607.0M
YoY Change
Intangibles $2.000M
YoY Change
Long-Term Investments $52.00M $56.00M
YoY Change -7.14% -35.63%
Other Assets $170.0M $17.00M
YoY Change 900.0% -5.56%
Total Long-Term Assets $8.847B $8.804B
YoY Change 0.49% -5.03%
TOTAL ASSETS
Total Short-Term Assets $584.0M $647.0M
Total Long-Term Assets $8.847B $8.804B
Total Assets $9.431B $9.451B
YoY Change -0.21% -3.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $208.0M $181.0M
YoY Change 14.92% 1.69%
Accrued Expenses $200.0M
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 $660.0M $426.0M
YoY Change 54.93% -12.16%
LONG-TERM LIABILITIES
Long-Term Debt $2.949B $2.947B
YoY Change 0.07% -2.22%
Other Long-Term Liabilities $204.0M $285.0M
YoY Change -28.42% 46.91%
Total Long-Term Liabilities $3.153B $3.232B
YoY Change -2.44% 0.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $660.0M $426.0M
Total Long-Term Liabilities $3.153B $3.232B
Total Liabilities $3.855B $3.645B
YoY Change 5.76% -3.26%
SHAREHOLDERS EQUITY
Retained Earnings $2.034B
YoY Change
Common Stock $3.593B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.622B $5.806B
YoY Change
Total Liabilities & Shareholders Equity $9.431B $9.451B
YoY Change -0.21% -3.73%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $82.00M $216.0M
YoY Change -62.04% 92.86%
Depreciation, Depletion And Amortization $61.00M $69.00M
YoY Change -11.59% -5.48%
Cash From Operating Activities $172.0M $105.0M
YoY Change 63.81% -21.05%
INVESTING ACTIVITIES
Capital Expenditures -$56.00M -$33.00M
YoY Change 69.7% -32.65%
Acquisitions
YoY Change
Other Investing Activities $165.0M $175.0M
YoY Change -5.71%
Cash From Investing Activities $109.0M $142.0M
YoY Change -23.24% -389.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -91.00M -87.00M
YoY Change 4.6% -9.38%
NET CHANGE
Cash From Operating Activities 172.0M 105.0M
Cash From Investing Activities 109.0M 142.0M
Cash From Financing Activities -91.00M -87.00M
Net Change In Cash 190.0M 160.0M
YoY Change 18.75% -1433.33%
FREE CASH FLOW
Cash From Operating Activities $172.0M $105.0M
Capital Expenditures -$56.00M -$33.00M
Free Cash Flow $228.0M $138.0M
YoY Change 65.22% -24.18%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
362058176
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
362058176
CY2019Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2018Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
dei Entity Small Business
EntitySmallBusiness
false
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2019Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
201622620
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
19000000
pk Management And Franchise Fees
ManagementAndFranchiseFees
72000000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
96000000
CY2019Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
2000000
us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
98000000
us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
103000000
CY2018Q2 pk Management And Franchise Fees
ManagementAndFranchiseFees
39000000
us-gaap Costs And Expenses
CostsAndExpenses
1141000000
us-gaap Costs And Expenses
CostsAndExpenses
1172000000
CY2018Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
7000000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
111000000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
149000000
us-gaap Operating Income Loss
OperatingIncomeLoss
240000000
CY2018Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
1000000
CY2019Q2 us-gaap Interest Expense
InterestExpense
33000000
pk Management And Franchise Fees
ManagementAndFranchiseFees
69000000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
123000000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
139000000
CY2018Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15000000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
39000000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
31000000
CY2018Q2 us-gaap Other Expenses
OtherExpenses
18000000
us-gaap Other Expenses
OtherExpenses
38000000
CY2019Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-12000000
dei Entity File Number
EntityFileNumber
001-37795
dei Entity Address Address Line1
EntityAddressAddressLine1
1775 Tysons Blvd
dei Entity Address Address Line2
EntityAddressAddressLine2
7th Floor
dei Entity Address City Or Town
EntityAddressCityOrTown
Tysons
dei Entity Address State Or Province
EntityAddressStateOrProvince
VA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
22102
dei City Area Code
CityAreaCode
571
dei Local Phone Number
LocalPhoneNumber
302-5757
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7764000000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7975000000
CY2019Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
52000000
CY2018Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
50000000
CY2019Q2 us-gaap Goodwill
Goodwill
607000000
CY2018Q4 us-gaap Goodwill
Goodwill
607000000
CY2019Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
2000000
CY2018Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
27000000
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
310000000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
410000000
CY2019Q2 us-gaap Restricted Cash
RestrictedCash
170000000
CY2018Q4 us-gaap Restricted Cash
RestrictedCash
15000000
CY2019Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1000000
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1000000
CY2019Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
186000000
CY2018Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
153000000
CY2019Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
88000000
CY2018Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
82000000
CY2019Q2 us-gaap Other Assets
OtherAssets
45000000
CY2018Q4 us-gaap Other Assets
OtherAssets
44000000
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
207000000
CY2019Q2 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
245000000
CY2018Q4 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
242000000
CY2019Q2 us-gaap Assets
Assets
9431000000
CY2018Q4 us-gaap Assets
Assets
9363000000
CY2019Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
2949000000
CY2018Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
2948000000
CY2019Q2 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
208000000
CY2018Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
183000000
CY2019Q2 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
117000000
CY2018Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
137000000
CY2019Q2 pk Sale Leaseback Transaction Amount Due Under Financing Method
SaleLeasebackTransactionAmountDueUnderFinancingMethod
135000000
CY2018Q4 pk Sale Leaseback Transaction Amount Due Under Financing Method
SaleLeasebackTransactionAmountDueUnderFinancingMethod
135000000
CY2019Q2 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
42000000
CY2018Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
42000000
CY2019Q2 us-gaap Other Liabilities
OtherLiabilities
204000000
CY2018Q4 us-gaap Other Liabilities
OtherLiabilities
332000000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
200000000
CY2019Q2 us-gaap Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
217000000
CY2018Q4 us-gaap Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
217000000
CY2019Q2 us-gaap Liabilities
Liabilities
3855000000
CY2018Q4 us-gaap Liabilities
Liabilities
3777000000
CY2019Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2018Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2019Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
6000000000
CY2018Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
6000000000
CY2019Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
201799199
CY2019Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
201621099
CY2018Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
201290458
CY2018Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
201198381
CY2019Q2 us-gaap Common Stock Value
CommonStockValue
2000000
CY2018Q4 us-gaap Common Stock Value
CommonStockValue
2000000
CY2019Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
3591000000
CY2018Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
3589000000
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2034000000
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2047000000
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-5000000
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-6000000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
5622000000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
5632000000
CY2019Q2 us-gaap Minority Interest
MinorityInterest
-46000000
CY2018Q4 us-gaap Minority Interest
MinorityInterest
-46000000
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5576000000
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5586000000
CY2019Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
9431000000
CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
9363000000
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
703000000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
731000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1362000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1399000000
CY2019Q2 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
49000000
CY2018Q2 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
50000000
CY2019Q2 pk Management And Franchise Fees
ManagementAndFranchiseFees
36000000
CY2019Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
61000000
CY2018Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
69000000
CY2019Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
22000000
CY2019Q2 us-gaap Other Expenses
OtherExpenses
18000000
us-gaap Other Expenses
OtherExpenses
35000000
CY2019Q2 us-gaap Costs And Expenses
CostsAndExpenses
580000000
CY2018Q2 us-gaap Costs And Expenses
CostsAndExpenses
589000000
us-gaap Operating Income Loss
OperatingIncomeLoss
323000000
us-gaap Investment Income Interest
InvestmentIncomeInterest
3000000
us-gaap Investment Income Interest
InvestmentIncomeInterest
2000000
CY2018Q2 us-gaap Interest Expense
InterestExpense
31000000
us-gaap Interest Expense
InterestExpense
65000000
us-gaap Interest Expense
InterestExpense
62000000
CY2019Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
10000000
CY2018Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
8000000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
15000000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
12000000
CY2018Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-4000000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-3000000
CY2019Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1000000
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
108000000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
108000000
CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
89000000
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
231000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
193000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
380000000
CY2019Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0
CY2018Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
1000000
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5000000
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13000000
CY2019Q2 us-gaap Profit Loss
ProfitLoss
84000000
CY2018Q2 us-gaap Profit Loss
ProfitLoss
218000000
us-gaap Profit Loss
ProfitLoss
181000000
us-gaap Profit Loss
ProfitLoss
367000000
CY2019Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2000000
CY2018Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2000000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3000000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1000000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
82000000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
216000000
us-gaap Net Income Loss
NetIncomeLoss
178000000
us-gaap Net Income Loss
NetIncomeLoss
366000000
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
1000000
CY2019Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1000000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1000000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
37000000
CY2019Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1000000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1000000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
37000000
CY2019Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
85000000
CY2018Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
218000000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
182000000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
404000000
CY2019Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
2000000
CY2018Q2 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
3000000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
1000000
CY2019Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
83000000
CY2018Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
216000000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
179000000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
403000000
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.40
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.88
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.77
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.40
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.88
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.77
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
201000000
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
200000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
201000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
205000000
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
202000000
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
201000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
202000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
206000000
us-gaap Profit Loss
ProfitLoss
181000000
us-gaap Profit Loss
ProfitLoss
367000000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
123000000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
139000000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
19000000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
96000000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-1000000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
59000000
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
480000000
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
438000000
CY2018Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
348000000
CY2019Q1 us-gaap Dividends
Dividends
91000000
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5580000000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
15000000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
12000000
us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-3000000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
108000000
us-gaap Share Based Compensation
ShareBasedCompensation
8000000
us-gaap Share Based Compensation
ShareBasedCompensation
8000000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
2000000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
2000000
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
13000000
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
6000000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-3000000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
49000000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
158000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
244000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
148000000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
120000000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
86000000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
229000000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
368000000
us-gaap Proceeds From Divestiture Of Interest In Subsidiaries And Affiliates
ProceedsFromDivestitureOfInterestInSubsidiariesAndAffiliates
150000000
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
2000000
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
35000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
111000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
467000000
us-gaap Payments Of Dividends
PaymentsOfDividends
291000000
us-gaap Payments Of Dividends
PaymentsOfDividends
204000000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
3000000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
1000000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
6000000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2000000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
348000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-300000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-555000000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
55000000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
425000000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
379000000
CY2019Q2 us-gaap Dividends Payable Current
DividendsPayableCurrent
90000000
CY2018Q2 us-gaap Dividends Payable Current
DividendsPayableCurrent
177000000
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5586000000
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
-1000000
CY2019Q1 us-gaap Profit Loss
ProfitLoss
97000000
CY2019Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
3000000
CY2019Q1 us-gaap New Accounting Pronouncement Or Change In Accounting Principle Effect Of Change On Operating Results
NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfChangeOnOperatingResults
-8000000
CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3000000
CY2019Q2 us-gaap Profit Loss
ProfitLoss
84000000
CY2019Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1000000
CY2019Q2 us-gaap Dividends
Dividends
92000000
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5576000000
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5962000000
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 Dividends
Dividends
88000000
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5715000000
us-gaap Depreciation Nonproduction
DepreciationNonproduction
122000000
us-gaap Depreciation Nonproduction
DepreciationNonproduction
139000000
CY2018Q2 us-gaap Dividends
Dividends
178000000
CY2018Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
1000000
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 Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5757000000
CY2019Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.45
CY2019Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.45
CY2018Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2018Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.88
us-gaap Use Of Estimates
UseOfEstimates
<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;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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>
CY2019Q2 pk Number Of Hotel Portfolio Properties Sold
NumberOfHotelPortfolioPropertiesSold
5
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
235000000
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
19000000
CY2018Q2 pk Number Of Hotel Portfolio Properties Sold
NumberOfHotelPortfolioPropertiesSold
12
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
387000000
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
96000000
pk Reclassification Of Currency Translation Adjustment From Accumulated Other Comprehensive Loss To Earnings On Disposition Of Unconsolidated Equity Method Investments
ReclassificationOfCurrencyTranslationAdjustmentFromAccumulatedOtherComprehensiveLossToEarningsOnDispositionOfUnconsolidatedEquityMethodInvestments
31000000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
28000000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
27000000
CY2019Q2 us-gaap Land
Land
3314000000
CY2018Q4 us-gaap Land
Land
3344000000
CY2019Q2 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
5520000000
CY2018Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
5616000000
CY2019Q2 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
955000000
CY2018Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
949000000
CY2019Q2 us-gaap Construction In Progress Gross
ConstructionInProgressGross
66000000
CY2018Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
124000000
CY2019Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9855000000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10033000000
CY2019Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2091000000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2058000000
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7764000000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7975000000
CY2019Q2 us-gaap Depreciation Nonproduction
DepreciationNonproduction
60000000
CY2018Q2 us-gaap Depreciation Nonproduction
DepreciationNonproduction
69000000
CY2019Q2 pk Number Of Consolidated Variable Interest Entities
NumberOfConsolidatedVariableInterestEntities
3
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
21000000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
13000000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
27000000
CY2019Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
52000000
CY2018Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
50000000
CY2019Q2 pk Unconsolidated Affiliate Debt
UnconsolidatedAffiliateDebt
962000000
CY2018Q4 pk Unconsolidated Affiliate Debt
UnconsolidatedAffiliateDebt
955000000
CY2019Q2 pk Longterm Debt And Financing Lease Obligations Gross
LongtermDebtAndFinancingLeaseObligationsGross
2958000000
CY2018Q4 pk Longterm Debt And Financing Lease Obligations Gross
LongtermDebtAndFinancingLeaseObligationsGross
2958000000
CY2019Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
9000000
CY2018Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
10000000
CY2019Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
2949000000
CY2018Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
2948000000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
13000000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
751000000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
32000000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
728000000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
1434000000
CY2019Q2 us-gaap Long Term Debt
LongTermDebt
2958000000
pk Number Of Consolidated Properties Under Ground Leases
NumberOfConsolidatedPropertiesUnderGroundLeases
13
pk Leases Ending Expiration Date
LeasesEndingExpirationDate
2076
pk Date Majorityof Leases Expire
DateMajorityofLeasesExpire
2027
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
200000000
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P15Y9M18D
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.057
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
7000000
us-gaap Operating Lease Cost
OperatingLeaseCost
14000000
CY2019Q2 us-gaap Variable Lease Cost
VariableLeaseCost
4000000
us-gaap Variable Lease Cost
VariableLeaseCost
7000000
CY2019Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
6000000
us-gaap Operating Lease Payments
OperatingLeasePayments
13000000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
213000000
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
204000000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
320000000
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
120000000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.205
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.024
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
82000000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
216000000
us-gaap Net Income Loss
NetIncomeLoss
178000000
us-gaap Net Income Loss
NetIncomeLoss
366000000
CY2019Q2 pk Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasicAndDiluted
1000000
CY2018Q2 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
1000000
CY2019Q2 pk Net Income Attributable To Stockholders Net Of Earnings Allocated To Participating Securities
NetIncomeAttributableToStockholdersNetOfEarningsAllocatedToParticipatingSecurities
81000000
CY2018Q2 pk Net Income Attributable To Stockholders Net Of Earnings Allocated To Participating Securities
NetIncomeAttributableToStockholdersNetOfEarningsAllocatedToParticipatingSecurities
215000000
pk Net Income Attributable To Stockholders Net Of Earnings Allocated To Participating Securities
NetIncomeAttributableToStockholdersNetOfEarningsAllocatedToParticipatingSecurities
177000000
pk Net Income Attributable To Stockholders Net Of Earnings Allocated To Participating Securities
NetIncomeAttributableToStockholdersNetOfEarningsAllocatedToParticipatingSecurities
365000000
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
201000000
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
200000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
201000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
205000000
CY2019Q2 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
1000000
CY2018Q2 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
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
1000000
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
202000000
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
201000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
202000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
206000000
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.40
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.88
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.77
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.40
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.88
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.77
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
703000000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
731000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1362000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1399000000
CY2019Q2 us-gaap Other Expenses
OtherExpenses
18000000
CY2018Q2 us-gaap Other Expenses
OtherExpenses
18000000
CY2019Q2 pk Adjusted Ebitda
AdjustedEbitda
209000000
CY2018Q2 pk Adjusted Ebitda
AdjustedEbitda
228000000
pk Adjusted Ebitda
AdjustedEbitda
390000000
pk Adjusted Ebitda
AdjustedEbitda
402000000
CY2019Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
61000000
CY2018Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
69000000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
123000000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
139000000
CY2019Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
22000000
CY2018Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15000000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
39000000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
31000000
us-gaap Other Expenses
OtherExpenses
38000000
us-gaap Other Expenses
OtherExpenses
35000000
CY2019Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-12000000
CY2018Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
7000000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
19000000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
96000000
CY2019Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
2000000
CY2018Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
1000000
us-gaap Investment Income Interest
InvestmentIncomeInterest
3000000
us-gaap Investment Income Interest
InvestmentIncomeInterest
2000000
CY2019Q2 us-gaap Interest Expense
InterestExpense
33000000
CY2018Q2 us-gaap Interest Expense
InterestExpense
31000000
us-gaap Interest Expense
InterestExpense
65000000
us-gaap Interest Expense
InterestExpense
62000000
CY2019Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
10000000
CY2018Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
8000000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
15000000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
12000000
CY2018Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-4000000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-3000000
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5000000
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13000000
CY2019Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1000000
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
108000000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
108000000
CY2019Q2 pk Other Items
OtherItems
4000000
CY2018Q2 pk Other Items
OtherItems
1000000
pk Other Items
OtherItems
6000000
pk Other Items
OtherItems
4000000
CY2019Q2 us-gaap Profit Loss
ProfitLoss
84000000
CY2018Q2 us-gaap Profit Loss
ProfitLoss
218000000
us-gaap Profit Loss
ProfitLoss
181000000
us-gaap Profit Loss
ProfitLoss
367000000
CY2019Q2 us-gaap Assets
Assets
9431000000
CY2018Q4 us-gaap Assets
Assets
9363000000
CY2019Q2 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
75000000
CY2019Q2 us-gaap Loss Contingency Number Of Plaintiffs
LossContingencyNumberOfPlaintiffs
2

Files In Submission

Name View Source Status
0001564590-19-027994-index-headers.html Edgar Link pending
0001564590-19-027994-index.html Edgar Link pending
0001564590-19-027994.txt Edgar Link pending
0001564590-19-027994-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
pk-10q_20190630.htm Edgar Link pending
pk-10q_20190630_htm.xml Edgar Link completed
pk-20190630.xsd Edgar Link pending
pk-20190630_cal.xml Edgar Link unprocessable
pk-20190630_def.xml Edgar Link unprocessable
pk-20190630_lab.xml Edgar Link unprocessable
pk-20190630_pre.xml Edgar Link unprocessable
pk-ex102_122.htm Edgar Link pending
pk-ex311_6.htm Edgar Link pending
pk-ex312_8.htm Edgar Link pending
pk-ex321_7.htm Edgar Link pending
pk-ex322_9.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
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.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