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INTERIM CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES        
Revenue from contracts with customers $ 410 $ 974 $ 1,348 $ 1,940
Financing 70 69 142 137
Total Revenues 480 1,043 1,490 2,077
EXPENSES        
Marketing and sales 57 189 240 375
Financing 23 21 61 43
General and administrative 19 64 89 131
Depreciation and amortization 31 36 63 73
Litigation charges 0 1 2 2
Royalty fee 23 26 49 52
Impairment charges 1 0 96 26
TOTAL EXPENSES 521 900 1,581 1,843
Gains (losses) and other income (expense), net 14 2 (42) 10
Interest expense (42) (35) (75) (69)
ILG acquisition-related costs (12) (36) (33) (62)
Other 0 0 (3) 0
(LOSS) INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTERESTS (81) 74 (244) 113
Benefit (provision) for income taxes 19 (25) 77 (40)
NET (LOSS) INCOME (62) 49 (167) 73
Net income attributable to noncontrolling interests (8) 0 (9) 0
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ (70) $ 49 $ (176) $ 73
(LOSS) EARNINGS PER SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS        
Basic (in usd per share) $ (1.68) $ 1.11 $ (4.25) $ 1.62
Diluted (in usd per share) (1.68) 1.10 (4.25) 1.61
CASH DIVIDENDS DECLARED PER SHARE (in usd per share) $ 0 $ 0.45 $ 0.54 $ 0.90
Sale of vacation ownership products        
REVENUES        
Revenue from contracts with customers $ 53 $ 341 $ 311 $ 634
EXPENSES        
Expenses 23 91 83 169
Management and exchange        
REVENUES        
Revenue from contracts with customers 145 231 372 470
EXPENSES        
Expenses 77 123 215 256
Rental        
REVENUES        
Revenue from contracts with customers 18 150 153 297
EXPENSES        
Expenses 73 97 171 177
Cost reimbursements        
REVENUES        
Revenue from contracts with customers 194 252 512 539
EXPENSES        
Cost reimbursements $ 194 $ 252 $ 512 $ 539