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INTERIM CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUES        
Revenue from contracts with customers $ 585 $ 994 $ 1,933 $ 2,934
Financing 64 72 206 209
Total Revenues 649 1,066 2,139 3,143
EXPENSES        
Marketing and sales 82 184 322 559
Financing 24 22 85 65
General and administrative 32 57 121 188
Depreciation and amortization 30 33 93 106
Litigation charges 2 3 4 5
Restructuring 20 0 20 0
Royalty fee 23 27 72 79
Impairment charges 2 73 98 99
TOTAL EXPENSES 673 996 2,254 2,839
(Losses) gains and other (expense) income, net 0 (5) (42) 5
Interest expense (37) (31) (112) (100)
ILG acquisition-related costs (11) (32) (44) (94)
Other 0 1 (3) 1
(LOSS) INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTERESTS (72) 3 (316) 116
Benefit (provision) for income taxes 14 (10) 91 (50)
NET (LOSS) INCOME (58) (7) (225) 66
Net income attributable to noncontrolling interests (4) (2) (13) (2)
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ (62) $ (9) $ (238) $ 64
(LOSS) EARNINGS PER SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS        
Basic (in usd per share) $ (1.51) $ (0.21) $ (5.76) $ 1.44
Diluted (in usd per share) (1.51) (0.21) (5.76) 1.43
CASH DIVIDENDS DECLARED PER SHARE (in usd per share) $ 0 $ 0.45 $ 0.54 $ 1.35
Vacation ownership products        
REVENUES        
Revenue from contracts with customers $ 98 $ 341 $ 409 $ 975
EXPENSES        
Expenses 27 89 110 258
Management and exchange        
REVENUES        
Revenue from contracts with customers 176 238 548 708
EXPENSES        
Expenses 102 136 317 392
Rental        
REVENUES        
Revenue from contracts with customers 56 135 209 432
EXPENSES        
Expenses 74 92 245 269
Cost reimbursements        
REVENUES        
Revenue from contracts with customers 255 280 767 819
EXPENSES        
Cost reimbursements $ 255 $ 280 $ 767 $ 819