Marriott International Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	2,611	2,375	3,083	2,358	1,099	-267
Depreciation & Amortization	432	383	348	311	303	362
Other Amortization	113	103	88	89	-	-
Asset Writedown & Restructuring Costs	-368	-278	47	-8	-	316
Stock-Based Compensation	235	237	205	192	182	201
Other Operating Activities	-57	11	-670	-37	-517	1,055
Change in Other Net Operating Assets	-265	-82	69	-542	110	-28
Operating Cash Flow	2,701	2,749	3,170	2,363	1,177	1,639
Operating Cash Flow Growth	-15.12%	-13.28%	34.15%	100.76%	-28.19%	-2.73%
Capital Expenditures	-1,149	-776	-553	-332	-183	-135
Sale of Property, Plant & Equipment	21	16	71	1	12	260
Other Investing Activities	-3	-	33	31	-43	-57
Investing Cash Flow	-1,120	-734	-465	-297	-187	35
Long-Term Debt Issued	-	3,111	2,464	983	1,943	3,561
Long-Term Debt Repaid	-	-558	-684	-986	-2,174	-4,177
Net Debt Issued (Repaid)	2,328	2,553	1,780	-3	-231	-616
Issuance of Common Stock	92	73	29	-	2	-
Repurchase of Common Stock	-3,008	-3,900	-4,061	-2,655	-90	-253
Common Dividends Paid	-715	-682	-587	-321	-	-156
Other Financing Activities	-	-	-25	17	-144	-8
Financing Cash Flow	-1,303	-1,956	-2,864	-2,962	-463	-1,033
Net Cash Flow	278	59	-159	-896	527	641
Free Cash Flow	1,552	1,973	2,617	2,031	994	1,504
Free Cash Flow Growth	-38.87%	-24.61%	28.85%	104.33%	-33.91%	45.74%
Free Cash Flow Margin	22.58%	29.81%	41.54%	37.92%	29.11%	70.98%
Free Cash Flow Per Share	5.62	6.92	8.64	6.23	3.02	4.62
Cash Interest Paid	652	599	476	345	391	377
Cash Income Tax Paid	1,010	947	907	476	362	279
Levered Free Cash Flow	1,177	1,951	2,575	2,703	1,873	257.75
Unlevered Free Cash Flow	1,665	2,385	2,929	2,955	2,136	535.88
Change in Working Capital	-265	-82	69	-542	110	-28

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.