Business Segments (Tables)

12 Months Ended

Dec. 31, 2022

Reconciliation of Revenue from Segment Amounts to Consolidated Amounts

The following table presents revenues for our reportable segments, reconciled to consolidated amounts:


	Year Ended December 31,
	2022		2021		2020
	(in millions)
Franchise and licensing fees	$	2,085	$	1,508	$	956
Base and other management fees(1)	338		203		144
Incentive management fees	196		98		38
Management and franchise	2,619		1,809		1,138
Ownership	1,076		598		421
Segment revenues	3,695		2,407		1,559
Amortization of contract acquisition costs	(38)		(32)		(29)
Other revenues	102		79		73
Direct reimbursements from managed and franchised properties(2)	2,441		1,503		1,375
Indirect reimbursements from managed and franchised properties(2)	2,596		1,841		1,332
Intersegment fees elimination(1)	(23)		(10)		(3)
Total revenues	$	8,773	$	5,788	$	4,307

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(1)Includes management, royalty and IP fees charged to consolidated hotels in our ownership segment by our management and franchise segment, which were eliminated in our consolidated statements of operations.

(2)Included in other revenues from managed and franchised properties in our consolidated statements of operations.

Reconciliation of Segment Operating Income (Loss) to Consolidated Income (Loss) Before Income Taxes

The following table presents operating income (loss) for each of our reportable segments, reconciled to consolidated income (loss) before income taxes:


	Year Ended December 31,
	2022		2021		2020
	(in millions)
Management and franchise(1)	$	2,619	$	1,809	$	1,138
Ownership(1)	54		(91)		(202)
Segment operating income	2,673		1,718		936
Amortization of contract acquisition costs	(38)		(32)		(29)
Other revenues, less other expenses	42		34		13
Net other expenses from managed and franchised properties	(39)		(110)		(397)
Depreciation and amortization expenses	(162)		(188)		(331)
General and administrative expenses	(382)		(405)		(311)
Reorganization costs	—		—		(41)
Impairment losses	—		—		(258)
Loss on sales of assets, net	—		(7)		—
Operating income (loss)	2,094		1,010		(418)
Interest expense	(415)		(397)		(429)
Gain (loss) on foreign currency transactions	5		(7)		(27)
Loss on debt extinguishments	—		(69)		(48)
Other non-operating income (loss), net	50		23		(2)
Income (loss) before income taxes	$	1,734	$	560	$	(924)

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Revenues by Country

Total revenues by country were as follows:


	Year Ended December 31,
	2022		2021		2020
	(in millions)
U.S.	$	6,947	$	4,765	$	3,593
All other(1)	1,826		1,023		714
	$	8,773	$	5,788	$	4,307

____________

(1)There are no countries included in these amounts that individually represented more than 10 percent of total revenues for the years ended December 31, 2022, 2021 and 2020.