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INTERIM CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
REVENUES        
Revenue from contracts with customers $ 999 $ 559 $ 1,991 $ 1,095
Financing 69 36 137 71
Cost reimbursements 252 202 539 418
TOTAL REVENUES 1,068 595 2,128 1,166
EXPENSES        
Marketing and sales 193 106 381 211
Rental 25 10 47 21
General and administrative 79 33 157 61
Depreciation and amortization 36 5 73 11
Litigation charges 1 16 2 16
Royalty fee 26 16 52 31
Impairment 0 0 26 0
Impairment     26 0
Cost reimbursements 252 202 539 418
TOTAL EXPENSES 925 546 1,894 1,064
Gains (losses) and other income (expense), net 2 (7) 10 (6)
Interest expense (35) (5) (69) (9)
ILG acquisition-related costs (36) (19) (62) (20)
Other 0 (1) 0 (3)
INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTERESTS 74 17 113 64
Provision for income taxes (25) (6) (40) (17)
NET INCOME 49 11 73 47
Net income attributable to noncontrolling interests 0 0 0 0
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 49 $ 11 $ 73 $ 47
EARNINGS PER SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS        
Basic (in usd per share) $ 1.11 $ 0.40 $ 1.62 $ 1.75
Diluted (in usd per share) 1.10 0.39 1.61 1.71
CASH DIVIDENDS DECLARED PER SHARE (in usd per share) $ 0.45 $ 0.40 $ 0.90 $ 0.80
Sale of vacation ownership products        
REVENUES        
Revenue from contracts with customers $ 350 $ 205 $ 651 $ 380
EXPENSES        
Expenses 91 57 171 103
Resort management and other services        
REVENUES        
Revenue from contracts with customers 239 78 478 148
EXPENSES        
Expenses 118 39 234 75
Rental        
REVENUES        
Revenue from contracts with customers 158 74 323 149
EXPENSES        
Expenses $ 104 $ 62 $ 212 $ 117