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INTERIM CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
REVENUES        
Revenue from contracts with customers $ 1,218 $ 1,105 $ 3,385 $ 3,294
Financing 87 81 255 239
TOTAL REVENUES 1,305 1,186 3,640 3,533
EXPENSES        
Marketing and sales 228 202 677 618
Financing 37 30 106 81
General and administrative 62 57 179 189
Depreciation and amortization 36 33 109 99
Litigation charges 2 2 15 7
Restructuring 1 0 4 0
Royalty fee 28 30 85 88
Impairment 0 0 2 4
Cost reimbursements 473 443 1,242 1,163
TOTAL EXPENSES 1,157 1,081 3,253 3,099
Gains and other income, net 9 3 2 34
Interest expense, net (40) (36) (123) (106)
Transaction and integration costs 0 (5) (18) (28)
Other 1 (1) (1) 0
INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTERESTS 118 66 247 334
Provision for income taxes (34) (24) (79) (115)
NET INCOME 84 42 168 219
Net income attributable to noncontrolling interests 0 0 0 0
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 84 $ 42 $ 168 $ 219
EARNINGS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS        
Basic (in usd per share) $ 2.38 $ 1.16 $ 4.74 $ 5.96
Diluted (in usd per share) 2.12 1.09 4.31 5.33
CASH DIVIDENDS DECLARED PER SHARE (in usd per share) $ 0.76 $ 0.72 $ 2.28 $ 2.16
Sale of vacation ownership products        
REVENUES        
Revenue from contracts with customers $ 387 $ 319 $ 1,048 $ 1,085
EXPENSES        
Expenses 54 50 145 174
Management and exchange        
REVENUES        
Revenue from contracts with customers 207 205 633 611
EXPENSES        
Expenses 123 115 358 332
Rental        
REVENUES        
Revenue from contracts with customers 151 138 462 435
EXPENSES        
Expenses 113 119 331 344
Cost Reimbursement        
REVENUES        
Revenue from contracts with customers $ 473 $ 443 $ 1,242 $ 1,163