ASSETS MARRIOTT INTERNATIONAL, INC. CONSOLIDATED BALANCE SHEETS Fiscal Years-Ended 2023 and 2022 (in millions) December 31, 2023 December 31, 2022 Current assets Cash and equivalents Accounts and notes receivable, net Prepaid expenses and other Property and equipment, net Intangible assets Brands Contract acquisition costs and other Goodwill Equity method investments Notes receivable, net Deferred tax assets 338 $ 507 2,712 2,571 261 235 3,311 3,313 1,581 1,585 5,907 5,812 3,283 2,935 8,886 8,872 18,076 17,619 308 335 138 152 673 240 Operating lease assets 929 987 Other noncurrent assets 658 584 $ 25,674 S 24,815 LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY Current liabilities Current portion of long-term debt Accounts payable Accrued payroll and benefits Liability for guest loyalty program Accrued expenses and other Long-term debt Liability for guest loyalty program Deferred tax liabilities Deferred revenue Operating lease liabilities Other noncurrent liabilities Stockholders' (deficit) equity Class A Common Stock Additional paid-in-capital Retained earnings Treasury stock, at cost Accumulated other comprehensive loss See Notes to Consolidated Financial Statements. 553 $ 684 738 746 1,390 1,299 3,328 3,314 1,753 1,296 7,762 7,339 11,320 9,380 3,678 3,280 209 313 1,018 1,059 887 1,034 1,482 1,842 5 5 6,051 5,965 14,838 (20,929) 12,342 (17,015) (647) (729) (682) 568 25,674 $ 24,815 MARRIOTT INTERNATIONAL, INC. CONSOLIDATED STATEMENTS OF INCOME Fiscal Years 2023, 2022, and 2021 (in millions, except per share amounts) 2023 2022 2021 REVENUES Base management fees Franchise fees Incentive management fees Gross fee revenues Contract investment amortization Net fee revenues Owned, leased, and other revenue Cost reimbursement revenue (¹) 1,238 $ 1,044 $ 669 2,831 2,505 1,790 755 529 235 4,824 4,078 2,694 (88) (89) (75) 4,736 3,989 2,619 1,564 1,367 796 17,413 15,417 10,442 23,713 20,773 13,857 OPERATING COSTS AND EXPENSES Owned, leased, and other - direct 1,165 1,074 734 Depreciation, amortization, and other 189 193 220 General, administrative, and other 1,011 891 823 Merger-related charges and other Reimbursed expenses (1) 60 12 8 17,424 15,141 10,322 19,849 17,311 12,107 OPERATING INCOME Gains and other income, net Loss on extinguishment of debt Interest expense Interest income 3,864 3,462 1,750 40 11 10 - (164) (565) (403) (420) 30 26 28 Equity in earnings (losses) (1) 9 18 (24) INCOME BEFORE INCOME TAXES 3,378 3,114 1,180 Provision for income taxes (295) (756) (81) NET INCOME $ 3,083 $ 2,358 $ 1,099 EARNINGS PER SHARE Earnings per share-basic 10.23 $ 7.27 $ 3.36 Earnings per share - diluted 10.18 $ 7.24 $ 3.34 (1) See Note 15 for disclosure of related party amounts.