Why is Marriott filing this 8-K?

Marriott is filing this 8-K to provide investors with recasted historical financial segment information. This is necessary because the company has reorganized its operating segments, eliminating the 'Luxury' segment and realigning its structure based on continental operations for better efficiency and growth.

What is the impact of the segment change on reported results?

The primary impact for investors is on the comparability of segment performance over time. The 'Luxury' segment's results are now integrated into the North American Full-Service segment and a new 'International' segment (which aggregates four previously distinct geographic regions). This filing provides the historical context to understand these changes.

What information does this 8-K NOT contain?

This 8-K specifically addresses the segment reclassification and only revises Items 7 and 8 of the 2013 Form 10-K. It does not include any information on company performance or events that have occurred since February 20, 2014, the filing date of the 2013 Form 10-K. Investors should consult other filings for more recent information.

MAR 8-K SEC Disclosure

Q: How should investors interpret the new 'International' segment?

The 'International' segment is an 'all other' category that consolidates the financial performance of four distinct geographic regions: Asia Pacific, Caribbean and Latin America, Europe, and Middle East and Africa. These regions, individually, did not meet the criteria for separate reportable segment disclosure under accounting standards.

Summary

Marriott International, Inc. (MAR) filed an 8-K on July 3, 2014, primarily to provide updated historical financial information reflecting a change in its operating segment structure. This restructuring, which occurred in connection with aligning the CEO's reporting information with a continental structure for operational efficiency and growth, involved eliminating the former "Luxury" segment. The "Luxury" segment's results have been reallocated to the existing North American Full-Service segment and four newly formed international segments (Asia Pacific, Caribbean and Latin America, Europe, and Middle East and Africa). For reporting purposes, the four new international segments do not meet the criteria for separate disclosure and have been combined into an "International" category, referred to as "all other." The primary purpose of this 8-K filing is to present recast historical segment data from the 2013 Form 10-K to ensure comparability with the segment presentation in the 2014 First Quarter Form 10-Q. Investors should note that this filing revises only specific sections of the 2013 10-K (Items 7 and 8) to reflect this segment change and does not incorporate other information or events subsequent to February 20, 2014. Therefore, it should be read in conjunction with the company's previously filed 2013 10-K and 2014 First Quarter 10-Q.

Key Highlights

1Marriott is restating historical financial segment data to reflect a new operating segment structure.
2The former "Luxury" operating segment has been eliminated and its results reallocated.
3A new "International" operating segment has been created by combining four geographic regions (Asia Pacific, Caribbean & Latin America, Europe, Middle East & Africa) that do not qualify for separate reporting.
4The North American Full-Service segment has absorbed a portion of the former "Luxury" segment.
5The purpose of the filing is to ensure comparability of historical segment performance with current reporting periods.
6The filing includes recasted historical data from the 2013 Form 10-K, specifically revising Items 7 and 8 (MD&A and Financial Statements).
7This 8-K does not reflect events or information occurring after February 20, 2014, the filing date of the 2013 10-K.

MARRIOTT INTERNATIONAL INC /MD/ 8-K Report, Corporate Update (Jul 3, 2014)

Summary

Key Highlights

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