XML 13 R2.htm IDEA: XBRL DOCUMENT v3.23.1
INTERIM CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
REVENUES    
Revenue from contracts with customers $ 1,091 $ 981
Financing 78 71
TOTAL REVENUES 1,169 1,052
EXPENSES    
Marketing and sales 210 182
Financing 26 21
General and administrative 68 61
Depreciation and amortization 32 33
Litigation charges 3 3
Royalty fee 29 27
Impairment 4 0
Cost reimbursements 365 316
TOTAL EXPENSES 1,015 911
Gains and other income, net 21 4
Interest expense, net (34) (27)
Transaction and integration costs (13) (28)
INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTERESTS 128 90
Provision for income taxes (41) (32)
NET INCOME 87 58
Net income attributable to noncontrolling interests 0 0
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 87 $ 58
EARNINGS PER SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS    
Basic (in usd per share) $ 2.32 $ 1.36
Diluted (in usd per share) 2.06 1.23
CASH DIVIDENDS DECLARED PER SHARE (in usd per share) $ 0.72 $ 0.62
Sale of vacation ownership products    
REVENUES    
Revenue from contracts with customers $ 375 $ 310
EXPENSES    
Expenses 58 60
Management and exchange    
REVENUES    
Revenue from contracts with customers 200 222
EXPENSES    
Expenses 107 127
Rental    
REVENUES    
Revenue from contracts with customers 151 133
EXPENSES    
Expenses 113 81
Cost Reimbursement    
REVENUES    
Revenue from contracts with customers $ 365 $ 316