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INTERIM CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
REVENUES    
Revenue from contracts with customers $ 938 $ 966
Financing 72 68
Total Revenues 1,010 1,034
EXPENSES    
Marketing and sales 183 186
Financing 38 22
General and administrative 70 67
Depreciation and amortization 32 37
Litigation charges 2 1
Royalty fee 26 26
Impairment 95 26
Cost reimbursements 318 287
TOTAL EXPENSES 1,060 943
(Losses) gains and other (expense) income, net (56) 8
Interest expense (33) (34)
ILG acquisition-related costs (21) (26)
Other (3) 0
(LOSS) INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTERESTS (163) 39
Benefit (provision) for income taxes 58 (15)
Net (loss) income (105) 24
Net income attributable to noncontrolling interests (1) 0
Net (loss) income attributable to common shareholders $ (106) $ 24
(LOSS) EARNINGS PER SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS    
Basic (in usd per share) $ (2.56) $ 0.52
Diluted (in usd per share) (2.56) 0.51
CASH DIVIDENDS DECLARED PER SHARE (in usd per share) $ 0.54 $ 0.45
Sale of vacation ownership products    
REVENUES    
Revenue from contracts with customers $ 258 $ 293
EXPENSES    
Expenses 60 78
Management and exchange    
REVENUES    
Revenue from contracts with customers 227 239
EXPENSES    
Expenses 138 133
Rental    
REVENUES    
Revenue from contracts with customers 135 147
EXPENSES    
Expenses 98 80
Cost reimbursements    
REVENUES    
Revenue from contracts with customers $ 318 $ 287