Marriott International Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	2,601	2,375	3,083	2,358	1,099
Depreciation & Amortization	458	383	348	311	303
Other Amortization	135	103	88	89	-
Asset Writedown & Restructuring Costs	-15	-278	47	-8	-
Stock-Based Compensation	236	237	205	192	182
Other Operating Activities	-56	11	-670	-37	-517
Change in Other Net Operating Assets	-147	-82	69	-542	110
Operating Cash Flow	3,212	2,749	3,170	2,363	1,177
Operating Cash Flow Growth	16.84%	-13.28%	34.15%	100.76%	-28.19%
Capital Expenditures	-954	-776	-553	-332	-183
Sale of Property, Plant & Equipment	9	16	71	1	12
Other Investing Activities	10	-	33	31	-43
Investing Cash Flow	-948	-734	-465	-297	-187
Long-Term Debt Issued	3,436	3,111	2,464	983	1,943
Long-Term Debt Repaid	-1,712	-558	-684	-986	-2,174
Net Debt Issued (Repaid)	1,724	2,553	1,780	-3	-231
Issuance of Common Stock	92	73	29	-	2
Repurchase of Common Stock	-3,416	-3,900	-4,061	-2,655	-90
Common Dividends Paid	-718	-682	-587	-321	-
Other Financing Activities	-	-	-25	17	-144
Financing Cash Flow	-2,318	-1,956	-2,864	-2,962	-463
Net Cash Flow	-54	59	-159	-896	527
Free Cash Flow	2,258	1,973	2,617	2,031	994
Free Cash Flow Growth	14.45%	-24.61%	28.85%	104.33%	-33.91%
Free Cash Flow Margin	8.58%	7.83%	11.00%	37.92%	29.11%
Free Cash Flow Per Share	8.25	6.92	8.64	6.23	3.02
Cash Interest Paid	698	599	476	345	391
Cash Income Tax Paid	-	947	907	476	362
Levered Free Cash Flow	1,673	1,931	2,575	2,703	1,873
Unlevered Free Cash Flow	2,179	2,366	2,929	2,955	2,136
Change in Working Capital	-147	-82	69	-542	110

Source: S&P Global Market Intelligence. Standard template. Financial Sources.