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INTERIM CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUES        
Revenue from contracts with customers $ 1,178 $ 983 $ 3,251 $ 2,594
Financing 74 69 217 196
TOTAL REVENUES 1,252 1,052 3,468 2,790
EXPENSES        
Marketing and sales 207 166 603 439
Financing 5 22 49 64
General and administrative 62 54 187 166
Depreciation and amortization 33 35 98 112
Litigation charges 2 2 7 8
Royalty fee 28 26 84 78
Impairment 1 0 1 5
Cost reimbursements 371 298 1,011 827
TOTAL EXPENSES 1,012 896 2,880 2,505
(Losses) gains and other (expense) income, net (2) (31) 39 (27)
Interest expense (34) (41) (91) (128)
Transaction and integration costs (34) (27) (99) (75)
Other (1) 1 0 2
INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTERESTS 169 58 437 57
Provision for income taxes (59) (47) (134) (63)
NET INCOME (LOSS) 110 11 303 (6)
Net income attributable to noncontrolling interests (1) (1) 0 (6)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 109 $ 10 $ 303 $ (12)
EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS        
Basic (in usd per share) $ 2.76 $ 0.24 $ 7.39 $ (0.28)
Diluted (in usd per share) 2.53 0.23 6.68 (0.28)
CASH DIVIDENDS DECLARED PER SHARE (in usd per share) $ 0.62 $ 0.54 $ 1.86 $ 0.54
Sale of vacation ownership products        
REVENUES        
Revenue from contracts with customers $ 444 $ 330 $ 1,179 $ 789
EXPENSES        
Expenses 76 71 216 178
Management and exchange        
REVENUES        
Revenue from contracts with customers 198 225 623 638
EXPENSES        
Expenses 101 138 330 381
Rental        
REVENUES        
Revenue from contracts with customers 165 130 438 340
EXPENSES        
Expenses 126 84 294 247
Cost Reimbursement        
REVENUES        
Revenue from contracts with customers $ 371 $ 298 $ 1,011 $ 827