XML 15 R2.htm IDEA: XBRL DOCUMENT v3.22.2
INTERIM CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUES        
Revenue from contracts with customers $ 1,092 $ 911 $ 2,073 $ 1,611
Financing 72 68 143 127
TOTAL REVENUES 1,164 979 2,216 1,738
EXPENSES        
Marketing and sales 214 164 396 273
Financing 23 21 44 42
General and administrative 64 66 125 112
Depreciation and amortization 32 36 65 77
Litigation charges 2 3 5 6
Royalty fee 29 27 56 52
Impairment 0 5 0 5
Cost reimbursements 324 274 640 529
TOTAL EXPENSES 957 870 1,868 1,609
Gains (losses) and other income (expense), net 37 (2) 41 4
Interest expense (30) (44) (57) (87)
Transaction and integration costs (37) (29) (65) (48)
Other 1 1 1 1
INCOME (LOSS) BEFORE INCOME TAXES AND NONCONTROLLING INTERESTS 178 35 268 (1)
Provision for income taxes (43) (27) (75) (16)
NET INCOME (LOSS) 135 8 193 (17)
Net loss (income) attributable to noncontrolling interests 1 (2) 1 (5)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 136 $ 6 $ 194 $ (22)
EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS        
Basic (in usd per share) $ 3.30 $ 0.15 $ 4.64 $ (0.52)
Diluted (in usd per share) 2.97 0.15 4.18 (0.52)
CASH DIVIDENDS DECLARED PER SHARE (in usd per share) $ 0.62 $ 0 $ 1.24 $ 0
Sale of vacation ownership products        
REVENUES        
Revenue from contracts with customers $ 425 $ 296 $ 735 $ 459
EXPENSES        
Expenses 80 67 140 107
Management and exchange        
REVENUES        
Revenue from contracts with customers 203 220 425 413
EXPENSES        
Expenses 102 126 229 243
Rental        
REVENUES        
Revenue from contracts with customers 140 121 273 210
EXPENSES        
Expenses 87 81 168 163
Cost Reimbursement        
REVENUES        
Revenue from contracts with customers $ 324 $ 274 $ 640 $ 529