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INTERIM CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUES        
Revenue from contracts with customers $ 1,055 $ 1,098 $ 2,167 $ 2,189
Financing 85 80 168 158
TOTAL REVENUES 1,140 1,178 2,335 2,347
EXPENSES        
Marketing and sales 226 206 449 416
Financing 35 25 69 51
General and administrative 54 64 117 132
Depreciation and amortization 35 34 73 66
Litigation charges 10 2 13 5
Restructuring 1 0 3 0
Royalty fee 29 29 57 58
Impairment 2 0 2 4
Cost reimbursements 378 355 769 720
TOTAL EXPENSES 1,038 1,003 2,096 2,018
(Losses) gains and other (expense) income, net (7) 10 (7) 31
Interest expense, net (43) (36) (83) (70)
Transaction and integration costs (3) (10) (18) (23)
Other (1) 1 (2) 1
INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTERESTS 48 140 129 268
Provision for income taxes (10) (50) (45) (91)
NET INCOME 38 90 84 177
Net income attributable to noncontrolling interests (1) 0 0 0
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 37 $ 90 $ 84 $ 177
EARNINGS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS        
Basic (in usd per share) $ 1.04 $ 2.46 $ 2.36 $ 4.78
Diluted (in usd per share) 0.98 2.17 2.20 4.23
CASH DIVIDENDS DECLARED PER SHARE (in usd per share) $ 0.76 $ 0.72 $ 1.52 $ 1.44
Sale of vacation ownership products        
REVENUES        
Revenue from contracts with customers $ 309 $ 391 $ 661 $ 766
EXPENSES        
Expenses 38 66 91 124
Management and exchange        
REVENUES        
Revenue from contracts with customers 215 206 426 406
EXPENSES        
Expenses 119 110 235 217
Rental        
REVENUES        
Revenue from contracts with customers 153 146 311 297
EXPENSES        
Expenses 111 112 218 225
Cost Reimbursement        
REVENUES        
Revenue from contracts with customers $ 378 $ 355 $ 769 $ 720