XML 91 R2.htm IDEA: XBRL DOCUMENT v3.19.3
INTERIM CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
REVENUES        
Revenue from contracts with customers $ 1,010 $ 702 $ 3,001 $ 1,797
Financing 72 48 209 119
Total Revenues 1,082 750 3,210 1,916
EXPENSES        
Marketing and sales 188 135 569 346
Financing 23 19 70 40
General and administrative 68 53 225 114
Depreciation and amortization 33 18 106 29
Litigation charges 3 17 5 33
Royalty fee 27 19 79 50
Impairment 73 0 99 0
Cost reimbursements 280 234 819 652
TOTAL EXPENSES 1,012 698 2,906 1,762
(Losses) gains and other (expense) income, net (5) 2 5 (4)
Interest expense (31) (14) (100) (23)
ILG acquisition-related costs (32) (78) (94) (98)
Other 1 0 1 (3)
INCOME (LOSS) BEFORE INCOME TAXES AND NONCONTROLLING INTERESTS 3 (38) 116 26
(Provision) benefit for income taxes (10) 2 (50) (15)
Net (loss) income (7) (36) 66 11
Net income attributable to noncontrolling interests (2) 0 (2) 0
Net (loss) income attributable to common shareholders $ (9) $ (36) $ 64 $ 11
(LOSSES) EARNINGS PER SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS        
Basic (in usd per share) $ (0.21) $ (1.08) $ 1.44 $ 0.39
Diluted (in usd per share) (0.21) (1.08) 1.43 0.38
CASH DIVIDENDS DECLARED PER SHARE (in usd per share) $ 0.45 $ 0.40 $ 1.35 $ 1.20
Sale of vacation ownership products        
REVENUES        
Revenue from contracts with customers $ 350 $ 252 $ 1,001 $ 632
EXPENSES        
Expenses 91 64 262 167
Management and exchange        
REVENUES        
Revenue from contracts with customers 231 126 709 274
EXPENSES        
Expenses 115 65 349 140
Rental        
REVENUES        
Revenue from contracts with customers 149 90 472 239
EXPENSES        
Expenses 111 74 323 191
Cost reimbursements        
REVENUES        
Revenue from contracts with customers $ 280 $ 234 $ 819 $ 652