Help! WHich company has a financially stronger income statement? Thanks!
Consolidated Statements of Income - USD ($) Dec. 31, 2018 % of Total revenues Dec. 31, 2017 % of Total revenues Dec. 31, 2016 % of Total revenues REVENUES: Royalty fees 376,676,000 36.17% $ 341,745,000 36.31% $ 317,699,000 39.32% Initial franchise and relicensing fees 26,072,000 2.50% $ 23,038,000 2.45% $ 19,720,000 2.44% Procurement services 52,088,000 5.00% $ 40,451,000 4.30% $ 35,844,000 4.44% Marketing and reservation system 543,677,000 52.21% $ 499,625,000 53.08% $ 409,120,000 50.64% Other 42,791,000 4.11% $ 36,438,000 3.87% 25,526,000 3.16% Total revenues 1,041,304,000 100.00% $ 941,297,000 100.00% $ 807,909,000 100.00% OPERATING EXPENSES: Selling, general and administrative $ 170,027,000 16.33% $ 165,821,000 17.62% $ 154,720,000 19.15% Depreciation and amortization 14,330,000 1.38% $ 6,680,000 0.71% $ 6,996,000 0.87% Marketing and reservation system 534,266,000 51.31% $ 479,400,000 50.93% 459,765,000 56.91% Total operating expenses 718,623,000 69.01% $ 651,901,000 69.26% $ 621,481,000 76.92% Impairment of goodwill (4,289,000) -0.41% $ 0.00% $ 0.00% Gain on sale of assets, net 82,000 0.01% $ 257,000 0.03% S 627,000 0.08% Operating income 318,474,000 30.58% $ 289,653,000 30.77% S 187,055,000 23.15% OTHER INCOME AND EXPENSES, NET: Interest expense 45,908,000 4.41% 45,039,000 4.78% 44,446,000 5.50% Interest income (7,452,000) 0.72% $ (5,920,000) -0.63% $ (3,535,000) -0.44% Other (gain) loss 1,437,000 0.14% $ (3,229,000) -0.34% $ (1,504,000) -0.19% Equity in net (income) loss of affiliates 5,323,000 0.51% 4,546,000 0.48% (492,000) -0.06% Total other income and expenses, net 45,216,000 4.34% $ 40,436,000 4.30% $ 38,915,000 4.82% Income before income taxes 273,258,000 26.24% $ 249,217,000 26.48% $ 148,140,000 18.34% Income taxes 56,903,000 5.46% $ 126,890,000 13.48% $ 41,428,000 5.13% Net income 216,355,000 20.78% $ 122,327,000 13.00% $ 106,712,000 13.21% Basic earnings per share: Basic earnings per share (in dollars per share) | $ 3.83 0.00% $ 2.16 0.00% $ 1.90 0.00% Diluted earnings per share (in dollars per share S 3.80 0.00% $ 2.15 0.00% $ 1.89 0.00%Consolidated Statements of Income - USD 12 Months Ended ($) ($ in millions, except per share Dec. 31, 2018 % of Total revenues Dec. 31, 2017 % of Total revenues Dec. 31, 2016% of Total revenues REVENUES Base management fees S 1,140 5.49% $ 1,102 5.39% $ 806 5.23% Franchise fees S 1,849 8.91% $ 1,586 7.75% 1,157 7.51% Incentive management fees S 649 3.13% $ 507 2.97% $ 425 2.76% Gross fee revenues 3,638 17.53% $ 3,295 16.11% $ 2,388 15.50% Contract investment amortization S (58) -0.28% $ (50) 0.24% $ (40 -0.26% Net fee revenues 3,580 17.25% $ 3,245 15.87% $ 2,348 15.24% Owned, leased, and other revenue 1,635 7.88% $ 1,752 8.57% 1,125 7.30% Cost reimbursement revenue S 15,543 74.88% 455 75.57% S 11,934 77.46% Total revenues 20,758 100.00% $ 20,452 100.00% $ 15,407 100.00% OPERATING COSTS AND EXPENSES Owned, leased, and other-direct $ 1,306 6.29% $ 1,411 6.90% $ 901 5.85% Depreciation, amortization, and other 226 1.09% $ 229 1.12% 119 0.77% General, administrative, and other 927 4.47% $ 921 4.50% $ 743 4.82% Merger-related costs and charges 155 0.75% $ 159 0.78% $ 386 2.51% Reimbursed expenses S 15,778 76.01% $ 15,228 74.46% $ 11,834 76.81% Total operating expenses 18,392 88.60% $ 17,948 87.76% $ 13,983 90.76% OPERATING INCOME 2,366 11.40% $ 2,504 12.24% $ 1,424 9.24% Gains and other income, net S 194 0.93% 688 3.36% $ 5 0.03% Interest expense (340) -1.64% 288 -1.41% (234) -1.52% Interest income 22 0.11% $ 38 0.19% 35 0.23% Equity in earnings S 103 0.50% $ 40 0.20% $ 9 0.06% INCOME BEFORE INCOME TAXES 2,345 11.30% $ 2,982 14.58% 1,239 8.04% Provision for income taxes S (438 -2.11% $ (1,523) -7.45% $ (431 -2.80% NET INCOME 1,907 9.19% $ 1,459 7.13% $ 808 5.24% EARNINGS PER SHARE Earnings per share - basic 5.45 0.03% $ 3.89 0.02% $ 2.78 0.02% Earnings per share - diluted 5.38 0.03% $ 3.84 0.02% $ 2.73 0.02%
