MARRIOTT INTERNATIONAL INC /MD/ (MAR) FY2025 Q1 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2025-01-01 to 2025-03-31

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MARRIOTT INTERNATIONAL INC /MD/ cash flow reconciliation, Jan 1, 2025 through Mar 31, 2025One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income → Net cash from operating activities: $647,000,000.00Net income → Operating adjustments reconciliation: $18,000,000.00Liability for guest loyalty program - Loyalty program → Operating adjustments reconciliation: $183,000,000.00Depreciation, amortization, and other (including depreciation and amortization classified in reimbursed expenses) → Operating adjustments reconciliation: $136,000,000.00Other → Operating adjustments reconciliation: $60,000,000.00Stock-based compensation → Operating adjustments reconciliation: $52,000,000.00Income taxes → Operating adjustments reconciliation: $26,000,000.00Operating adjustments reconciliation → Working capital changes: $325,000,000.00Operating adjustments reconciliation → Contract acquisition costs: $131,000,000.00Operating adjustments reconciliation → Restructuring and merger-related charges: $19,000,000.00Loan collections → investing reconciliation: $5,000,000.00investing reconciliation → Capital and technology expenditures: $135,000,000.00investing reconciliation → Loan advances: $12,000,000.00investing reconciliation → Other: $1,000,000.00Net cash used in financing activities → financing reconciliation: $383,000,000.00Issuance of long-term debt → financing reconciliation: $1,960,000,000.00Issuance of Class A Common Stock → financing reconciliation: $45,000,000.00financing reconciliation → Commercial paper/Credit Facility, net: $1,002,000,000.00financing reconciliation → Purchase of treasury stock: $751,000,000.00financing reconciliation → Repayment of long-term debt: $352,000,000.00financing reconciliation → Dividends paid: $174,000,000.00financing reconciliation → Stock-based compensation withholding taxes: $109,000,000.00Net cash used in investing activities → investing reconciliation: $143,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $425,000,000.00Net cash from operating activities → Cash sources and uses: $647,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $546,000,000.00Cash sources and uses → Net cash used in investing activities: $143,000,000.00Cash sources and uses → Net cash used in financing activities: $383,000,000.00Other: $60,000,000.00Other operating, net+$60.00 MDepreciation, amortization, and other (including depreciation and amortization classified in reimbursed expenses): $136,000,000.00Depreciation, amort. & other+$136.00 MLiability for guest loyalty program - Loyalty program: $183,000,000.00Guest loyalty program liability+$183.00 MIncome taxes: $26,000,000.00Income taxes+$26.00 MWorking capital changes: -$325,000,000.00Working capital changes−$325.00 MNet income: $665,000,000.00Net income+$665.00 MStock-based compensation: $52,000,000.00Stock-based compensation+$52.00 MRestructuring and merger-related charges: -$19,000,000.00Restructuring, merger & other−$19.00 MContract acquisition costs: -$131,000,000.00Contract acquisition costs−$131.00 MNet cash from operating activities: $647,000,000.00Operating cash+$647.00 MOperating adjustments reconciliation: $475,000,000.00Issuance of long-term debt: $1,960,000,000.00Long-term debt issued+$1.96 BStock-based compensation withholding taxes: -$109,000,000.00Stock-award tax withholding−$109.00 MRepayment of long-term debt: -$352,000,000.00Long-term debt repaid−$352.00 MPurchase of treasury stock: -$751,000,000.00Common stock repurchases−$751.00 MDividends paid: -$174,000,000.00Common dividends paid−$174.00 MCommercial paper/Credit Facility, net: -$1,002,000,000.00Commercial paper & credit, net−$1.00 BIssuance of Class A Common Stock: $45,000,000.00Common stock issued+$45.00 MNet cash used in financing activities: -$383,000,000.00. Cash required to fund net payments.Financing cash−$383.00 Mfinancing reconciliation: $2,388,000,000.00Capital and technology expenditures: -$135,000,000.00PP&E purchases−$135.00 MLoan collections: $5,000,000.00Note receivable proceeds+$5.00 MLoan advances: -$12,000,000.00Loan advances−$12.00 MOther: -$1,000,000.00Other investing, net−$1.00 MDispositions: $0.00Net cash used in investing activities: -$143,000,000.00. Cash required to fund net payments.Investing cash−$143.00 Minvesting reconciliation: $148,000,000.00Cash sources and uses: $1,072,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $425,000,000.00Beginning cash$425.00 MEnding cash: Cash, cash equivalents, and restricted cash: $546,000,000.00Ending cash$546.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$512.00 MOperating cash − cash spent on PP&ECash flow / Net income0.97×Operating cash flow ÷ net incomeNet cash change+$121.00 MEnding cash − beginning cash
Chart details

MARRIOTT INTERNATIONAL INC /MD/ cash flow reconciliation, Jan 1, 2025 through Mar 31, 2025

Cash flows for Jan 1, 2025 through Mar 31, 2025. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2024. Ending cash: Mar 31, 2025. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2024
425,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
647,000,000 US dollars. Net cash provided.
Net income
665,000,000 US dollars
Other
60,000,000 US dollars
Depreciation, amortization, and other (including depreciation and amortization classified in reimbursed expenses)
136,000,000 US dollars
Liability for guest loyalty program - Loyalty program
183,000,000 US dollars
Income taxes
26,000,000 US dollars
Working capital changes
negative 325,000,000 US dollars
Stock-based compensation
52,000,000 US dollars
Restructuring and merger-related charges
negative 19,000,000 US dollars
Contract acquisition costs
negative 131,000,000 US dollars
Investing activities
negative 143,000,000 US dollars. Net cash used.
Capital and technology expenditures
negative 135,000,000 US dollars
Loan collections
5,000,000 US dollars
Loan advances
negative 12,000,000 US dollars
Other
negative 1,000,000 US dollars
Dispositions
0 US dollars
Financing activities
negative 383,000,000 US dollars. Net cash used.
Issuance of long-term debt
1,960,000,000 US dollars
Stock-based compensation withholding taxes
negative 109,000,000 US dollars
Repayment of long-term debt
negative 352,000,000 US dollars
Purchase of treasury stock
negative 751,000,000 US dollars
Dividends paid
negative 174,000,000 US dollars
Commercial paper/Credit Facility, net
negative 1,002,000,000 US dollars
Issuance of Class A Common Stock
45,000,000 US dollars
Operating adjustment reconciliation
475,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
2,388,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
148,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
0 US dollars
Ending cash on Mar 31, 2025
546,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
1,072,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
121,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
0.97×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
647,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
135,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
512,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income exceeds operating cash. The diagram allocates $647.00M of net income directly to operating cash and $18.00M to the adjustment junction, where it combines with other additions to reconcile deductions. This is an accounting presentation, not a tracing of cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 647,000,000 US dollars minus 135,000,000 US dollars equals 512,000,000 US dollars.
MARRIOTT INTERNATIONAL INC /MD/ (MAR) FY2025 Q1 Statement of Cash Flows Sankey chart
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