Provide Vertical and Horizontal Analysis based on the attached income statement. ($ in millions, except per share
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($ in millions, except per share amounts) 2021 2020 2019 REVENUES Base management fees S 669 $ 443 $ 1,180 Franchise fees Incentive management fees Gross fee revenues Contract investment amortization Net fee revenues Owned, leased, and other revenue Cost reimbursement revenue (¹) OPERATING COSTS AND EXPENSES 1,790 1,153 2,006 235 87 637 2,694 1,683 3,823 (75) (132) (62) 2,619 1,551 3,761 796 568 1,612 10,442 8,452 15,599 13,857 10,571 20,972 Owned, leased, and other-direct 734 677 1,316 Depreciation, amortization, and other 220 346 341 General, administrative, and other 823 762 938 Restructuring and merger-related charges 8 267 138 Reimbursed expenses (1) 10,322 8,435 16,439 12,107 10,487 19,172 OPERATING INCOME 1,750 84 1,800 Gains and other income, net Interest expense 10 9 154 Loss on extinguishment of debt (164) (420) (445) (394) Interest income Equity in (losses) earnings (¹) (Provision) benefit for income taxes NET INCOME (LOSS) EARNINGS (LOSS) PER SHARE 28 27 26 (24) (141) 13 INCOME (LOSS) BEFORE INCOME TAXES 1,180 (466) 1,599 (81) 199 (326) $ 1,099 $ (267) $ 1,273 Earnings (loss) per share - basic Earnings (loss) per share - diluted SS 3.36 $ (0.82) $ 3.83 3.34 $ (0.82) $ 3.80 ($ in millions, except per share amounts) 2021 2020 2019 REVENUES Base management fees S 669 $ 443 $ 1,180 Franchise fees Incentive management fees Gross fee revenues Contract investment amortization Net fee revenues Owned, leased, and other revenue Cost reimbursement revenue (¹) OPERATING COSTS AND EXPENSES 1,790 1,153 2,006 235 87 637 2,694 1,683 3,823 (75) (132) (62) 2,619 1,551 3,761 796 568 1,612 10,442 8,452 15,599 13,857 10,571 20,972 Owned, leased, and other-direct 734 677 1,316 Depreciation, amortization, and other 220 346 341 General, administrative, and other 823 762 938 Restructuring and merger-related charges 8 267 138 Reimbursed expenses (1) 10,322 8,435 16,439 12,107 10,487 19,172 OPERATING INCOME 1,750 84 1,800 Gains and other income, net Interest expense 10 9 154 Loss on extinguishment of debt (164) (420) (445) (394) Interest income Equity in (losses) earnings (¹) (Provision) benefit for income taxes NET INCOME (LOSS) EARNINGS (LOSS) PER SHARE 28 27 26 (24) (141) 13 INCOME (LOSS) BEFORE INCOME TAXES 1,180 (466) 1,599 (81) 199 (326) $ 1,099 $ (267) $ 1,273 Earnings (loss) per share - basic Earnings (loss) per share - diluted SS 3.36 $ (0.82) $ 3.83 3.34 $ (0.82) $ 3.80
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Vertical Analysis Vertical analysis involves expressing each item on the income statement as a percentage of total revenues for the respective year Here is the vertical analysis for the income stateme... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119048473
7th Canadian Edition Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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