Annual report pursuant to Section 13 and 15(d)

Franchising, Marketing and Reservation Activities (Tables)

v3.24.0.1
Franchising, Marketing and Reservation Activities (Tables)
 12 Months Ended
Dec. 31, 2023
Franchisors [Abstract]  
Schedule of Franchisor Disclosure [Table Text Block]
Consolidated Balance Sheets:
 As of December 31,
2023 2022
Other non-current assets
 $ 228  $ 144 

During 2023, the Company made a non-cash reclass of $29 million to development advance notes in connection with the execution of franchise agreements, of which $25 million was from other current assets and $4 million was from other non-current assets.

Consolidated Statements of Income:
 Year Ended December 31,
2023 2022 2021
Forgiveness of notes (a)
$ 15  $ 12  $ 11 
Bad debt expense related to notes 1  1  1 
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(a)    Amounts are recorded as a reduction of royalties and franchise fees and marketing, reservation and loyalty revenues on the Consolidated Statements of Income.