$PK
Park Hotels & Resorts Inc.

2024 Q4 Form 10-Q Financial Statement

#000161740624000070 Filed on October 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $649.0M
YoY Change -4.42%
Cost Of Revenue $219.0M
YoY Change -9.13%
Gross Profit $430.0M
YoY Change -1.83%
Gross Profit Margin 66.26%
Selling, General & Admin $266.0M
YoY Change -1.12%
% of Gross Profit 61.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $63.00M
YoY Change -3.08%
% of Gross Profit 14.65%
Operating Expenses $350.0M
YoY Change -0.85%
Operating Profit $95.00M
YoY Change 11.76%
Interest Expense $54.00M
YoY Change -16.92%
% of Operating Profit 56.84%
Other Income/Expense, Net $21.00M
YoY Change 10.53%
Pretax Income $59.00M
YoY Change 90.32%
Income Tax $2.000M
% Of Pretax Income 3.39%
Net Earnings $54.00M
YoY Change 100.0%
Net Earnings / Revenue 8.32%
Basic Earnings Per Share $0.26
Diluted Earnings Per Share $0.26
COMMON SHARES
Basic Shares Outstanding 206.4M shares 208.9M shares
Diluted Shares Outstanding 208.0M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $480.0M
YoY Change -33.88%
Cash & Equivalents $480.0M
Short-Term Investments
Other Short-Term Assets $57.00M
YoY Change -9.52%
Inventory
Prepaid Expenses
Receivables $124.0M
Other Receivables $0.00
Total Short-Term Assets $661.0M
YoY Change -29.53%
LONG-TERM ASSETS
Property, Plant & Equipment $7.413B
YoY Change -7.66%
Goodwill
YoY Change
Intangibles $42.00M
YoY Change 0.0%
Long-Term Investments
YoY Change
Other Assets $38.00M
YoY Change -36.67%
Total Long-Term Assets $8.512B
YoY Change 1.73%
TOTAL ASSETS
Total Short-Term Assets $661.0M
Total Long-Term Assets $8.512B
Total Assets $9.173B
YoY Change -1.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $240.0M
YoY Change -18.09%
Accrued Expenses $291.0M
YoY Change 29.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $699.0M
YoY Change 6.88%
LONG-TERM LIABILITIES
Long-Term Debt $4.580B
YoY Change 2.0%
Other Long-Term Liabilities $187.0M
YoY Change -15.38%
Total Long-Term Liabilities $4.767B
YoY Change 1.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $699.0M
Total Long-Term Liabilities $4.767B
Total Liabilities $5.466B
YoY Change 1.88%
SHAREHOLDERS EQUITY
Retained Earnings -$353.0M
YoY Change 108.88%
Common Stock $4.105B
YoY Change -1.16%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.752B
YoY Change
Total Liabilities & Shareholders Equity $9.173B
YoY Change -1.42%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $54.00M
YoY Change 100.0%
Depreciation, Depletion And Amortization $63.00M
YoY Change -3.08%
Cash From Operating Activities $140.0M
YoY Change 10.24%
INVESTING ACTIVITIES
Capital Expenditures $43.00M
YoY Change -39.44%
Acquisitions
YoY Change
Other Investing Activities $30.00M
YoY Change
Cash From Investing Activities -$13.00M
YoY Change -81.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -93.00M
YoY Change -16.96%
NET CHANGE
Cash From Operating Activities 140.0M
Cash From Investing Activities -13.00M
Cash From Financing Activities -93.00M
Net Change In Cash 34.00M
YoY Change -160.71%
FREE CASH FLOW
Cash From Operating Activities $140.0M
Capital Expenditures $43.00M
Free Cash Flow $97.00M
YoY Change 73.21%

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0 usd
us-gaap Proceeds From Divestiture Of Interest In Subsidiaries And Affiliates
ProceedsFromDivestitureOfInterestInSubsidiariesAndAffiliates
3000000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
939000000 usd
CY2024Q3 us-gaap Finance Lease Liability Statement Of Financial Position Extensible List
FinanceLeaseLiabilityStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2024#DebtAndCapitalLeaseObligations
CY2023Q4 us-gaap Finance Lease Liability Statement Of Financial Position Extensible List
FinanceLeaseLiabilityStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2024#DebtAndCapitalLeaseObligations
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-353000000 usd
CY2023Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
65000000 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
15000000 usd
CY2024Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
59000000 usd
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
210000000 shares
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-56000000 usd
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
33000000 usd
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
0 usd
pk Contributions To Equity Method Investment
ContributionsToEquityMethodInvestment
3000000 usd
pk Contributions To Equity Method Investment
ContributionsToEquityMethodInvestment
4000000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-134000000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-91000000 usd
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
550000000 usd
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 usd
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
650000000 usd
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
0 usd
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
200000000 usd
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
0 usd
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 usd
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
50000000 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
6000000 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
82000000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
11000000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1000000 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
459000000 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
120000000 usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
6000000 usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
4000000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5000000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2000000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
60000000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
180000000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-447000000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-232000000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-153000000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
750000000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
518000000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
786000000 usd
CY2024Q3 us-gaap Dividends Payable Current
DividendsPayableCurrent
51000000 usd
CY2023Q3 us-gaap Dividends Payable Current
DividendsPayableCurrent
31000000 usd
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3768000000 usd
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
0 usd
CY2024Q1 us-gaap Profit Loss
ProfitLoss
29000000 usd
CY2024Q1 us-gaap Dividends
Dividends
53000000 usd
CY2024Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
2000000 usd
CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3742000000 usd
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4000000 usd
CY2024Q2 us-gaap Profit Loss
ProfitLoss
67000000 usd
CY2024Q2 us-gaap Dividends
Dividends
52000000 usd
CY2024Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
25000000 usd
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3736000000 usd
CY2024Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
4000000 usd
CY2024Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
35000000 usd
CY2024Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3707000000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4291000000 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2000000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
33000000 usd
CY2023Q1 us-gaap Dividends
Dividends
32000000 usd
CY2023Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
1000000 usd
CY2023Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
105000000 usd
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4188000000 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5000000 usd
CY2023Q2 us-gaap Profit Loss
ProfitLoss
-146000000 usd
CY2023Q2 us-gaap Dividends
Dividends
34000000 usd
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4013000000 usd
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5000000 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
31000000 usd
CY2023Q3 us-gaap Dividends
Dividends
31000000 usd
CY2023Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
3000000 usd
CY2023Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
75000000 usd
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3940000000 usd
CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
CY2024Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
CY2024Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.15
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.15
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.15
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Interim results are not necessarily indicative of full year performance.</span></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-top:12pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain line items on the condensed consolidated statements of operations for the three and nine months ended September 30, 2023 have been reclassified to conform to the current period presentation.</span></div>
CY2024Q3 us-gaap Land
Land
3007000000 usd
CY2023Q4 us-gaap Land
Land
2990000000 usd
CY2024Q3 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
5926000000 usd
CY2023Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
5814000000 usd
CY2024Q3 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
1028000000 usd
CY2023Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
947000000 usd
CY2024Q3 us-gaap Construction In Progress Gross
ConstructionInProgressGross
229000000 usd
CY2023Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
341000000 usd
CY2024Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10190000000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10092000000 usd
CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2777000000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2633000000 usd
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7413000000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7459000000 usd
CY2024Q3 us-gaap Depreciation Nonproduction
DepreciationNonproduction
63000000 usd
CY2023Q3 us-gaap Depreciation Nonproduction
DepreciationNonproduction
65000000 usd
us-gaap Depreciation Nonproduction
DepreciationNonproduction
191000000 usd
us-gaap Depreciation Nonproduction
DepreciationNonproduction
193000000 usd
CY2023Q3 pk Long Term Debt Assets In Receivership
LongTermDebtAssetsInReceivership
725000000 usd
CY2023Q4 pk Number Of Hotels In Receivership
NumberOfHotelsInReceivership
2 hotel
CY2024Q3 pk Unconsolidated Affiliate Debt
UnconsolidatedAffiliateDebt
685000000 usd
CY2023Q4 pk Unconsolidated Affiliate Debt
UnconsolidatedAffiliateDebt
702000000 usd
CY2024Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
1000000 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
1000000 usd
CY2024Q3 pk Longterm Debt And Financing Lease Obligations Gross
LongtermDebtAndFinancingLeaseObligationsGross
3880000000 usd
CY2023Q4 pk Longterm Debt And Financing Lease Obligations Gross
LongtermDebtAndFinancingLeaseObligationsGross
3786000000 usd
CY2024Q3 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
0 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
1000000 usd
CY2024Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
25000000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
22000000 usd
CY2024Q3 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
3855000000 usd
CY2023Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
3765000000 usd
CY2024Q3 pk Line Of Credit Facility Number Of Standby Letters Of Credit Permitted
LineOfCreditFacilityNumberOfStandbyLettersOfCreditPermitted
1 letterofcredit
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
2000000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
60000000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1563000000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
230000000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
725000000 usd
CY2024Q3 pk Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
1300000000 usd
CY2024Q3 us-gaap Long Term Debt
LongTermDebt
3880000000 usd
CY2024Q3 us-gaap Deconsolidation Gain Or Loss Amount
DeconsolidationGainOrLossAmount
15000000 usd
us-gaap Deconsolidation Gain Or Loss Amount
DeconsolidationGainOrLossAmount
44000000 usd
CY2024Q3 pk Contract Assets Receivable
ContractAssetsReceivable
804000000 usd
CY2023Q4 pk Contract Assets Receivable
ContractAssetsReceivable
760000000 usd
CY2023Q4 pk Long Term Debt Assets In Receivership
LongTermDebtAssetsInReceivership
725000000 usd
CY2024Q3 pk Long Term Debt Assets In Receivership
LongTermDebtAssetsInReceivership
725000000 usd
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2000000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-9000000 usd
us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
-14000000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5000000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5000000 usd
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5000000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14000000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14000000 usd
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
24000000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y6M
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
14000000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
7000000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.360
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.045
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
54000000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
27000000 usd
us-gaap Net Income Loss
NetIncomeLoss
146000000 usd
us-gaap Net Income Loss
NetIncomeLoss
-90000000 usd
CY2024Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1000000 usd
CY2023Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1000000 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1000000 usd
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
53000000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
27000000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
145000000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
206000000 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
212000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
208000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
216000000 shares
CY2024Q3 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
2000000 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
0 shares
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
2000000 shares
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
0 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
208000000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
212000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
210000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
216000000 shares
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.70
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.42
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.69
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.42
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
649000000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
679000000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1974000000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2041000000 usd
CY2024Q3 us-gaap Profit Loss
ProfitLoss
57000000 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
31000000 usd
us-gaap Profit Loss
ProfitLoss
153000000 usd
us-gaap Profit Loss
ProfitLoss
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CY2024Q3 us-gaap Depreciation And Amortization
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63000000 usd
CY2023Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
65000000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
192000000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
193000000 usd
CY2024Q3 pk Corporate General And Administrative Expenses Excluding Severance
CorporateGeneralAndAdministrativeExpensesExcludingSeverance
17000000 usd
CY2023Q3 pk Corporate General And Administrative Expenses Excluding Severance
CorporateGeneralAndAdministrativeExpensesExcludingSeverance
18000000 usd
pk Corporate General And Administrative Expenses Excluding Severance
CorporateGeneralAndAdministrativeExpensesExcludingSeverance
52000000 usd
pk Corporate General And Administrative Expenses Excluding Severance
CorporateGeneralAndAdministrativeExpensesExcludingSeverance
50000000 usd
CY2024Q3 pk Impairment And Casualty Loss
ImpairmentAndCasualtyLoss
0 usd
CY2023Q3 pk Impairment And Casualty Loss
ImpairmentAndCasualtyLoss
0 usd
pk Impairment And Casualty Loss
ImpairmentAndCasualtyLoss
13000000 usd
pk Impairment And Casualty Loss
ImpairmentAndCasualtyLoss
204000000 usd
CY2024Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
21000000 usd
CY2023Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
19000000 usd
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
62000000 usd
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
61000000 usd
CY2024Q3 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0 usd
CY2023Q3 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
15000000 usd
CY2024Q3 us-gaap Deconsolidation Gain Or Loss Amount
DeconsolidationGainOrLossAmount
15000000 usd
CY2023Q3 us-gaap Deconsolidation Gain Or Loss Amount
DeconsolidationGainOrLossAmount
0 usd
us-gaap Deconsolidation Gain Or Loss Amount
DeconsolidationGainOrLossAmount
44000000 usd
us-gaap Deconsolidation Gain Or Loss Amount
DeconsolidationGainOrLossAmount
0 usd
CY2024Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
6000000 usd
CY2023Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
9000000 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
16000000 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
29000000 usd
CY2024Q3 us-gaap Interest Expense
InterestExpense
54000000 usd
CY2023Q3 us-gaap Interest Expense
InterestExpense
51000000 usd
us-gaap Interest Expense
InterestExpense
161000000 usd
us-gaap Interest Expense
InterestExpense
155000000 usd
CY2024Q3 pk Interest Expense Debt Of Assets In Receivership
InterestExpenseDebtOfAssetsInReceivership
15000000 usd
CY2023Q3 pk Interest Expense Debt Of Assets In Receivership
InterestExpenseDebtOfAssetsInReceivership
14000000 usd
pk Interest Expense Debt Of Assets In Receivership
InterestExpenseDebtOfAssetsInReceivership
44000000 usd
pk Interest Expense Debt Of Assets In Receivership
InterestExpenseDebtOfAssetsInReceivership
31000000 usd
CY2024Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
28000000 usd
CY2023Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2000000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
29000000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
9000000 usd
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2000000 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-9000000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5000000 usd
CY2024Q3 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
-1000000 usd
CY2023Q3 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
0 usd
us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
-4000000 usd
us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
4000000 usd
CY2024Q3 pk Other Items
OtherItems
8000000 usd
CY2023Q3 pk Other Items
OtherItems
8000000 usd
pk Other Items
OtherItems
17000000 usd
pk Other Items
OtherItems
21000000 usd
CY2024Q3 pk Adjusted Ebitda
AdjustedEbitda
168000000 usd
CY2023Q3 pk Adjusted Ebitda
AdjustedEbitda
173000000 usd
pk Adjusted Ebitda
AdjustedEbitda
536000000 usd
pk Adjusted Ebitda
AdjustedEbitda
517000000 usd
CY2024Q3 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
113000000 usd
CY2024Q3 us-gaap Litigation Reserve
LitigationReserve
8000000 usd

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0001617406-24-000070-xbrl.zip Edgar Link pending
ex311.htm Edgar Link pending
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ex321.htm Edgar Link pending
ex322.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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pk-20240930.htm Edgar Link pending
pk-20240930.xsd Edgar Link pending
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pk-20240930_cal.xml Edgar Link unprocessable
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pk-20240930_pre.xml Edgar Link unprocessable
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