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INTERIM CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUES        
Revenue from contracts with customers $ 1,156 $ 1,055 $ 2,268 $ 2,167
Financing 90 85 178 168
TOTAL REVENUES 1,246 1,140 2,446 2,335
EXPENSES        
Marketing and sales 237 226 471 449
Financing 37 35 73 69
General and administrative 61 54 122 117
Depreciation and amortization 38 35 76 73
Litigation charges 5 10 12 13
Restructuring 34 1 46 3
Royalty fee 28 29 56 57
Impairment 0 2 0 2
Cost reimbursements 407 378 780 769
TOTAL EXPENSES 1,134 1,038 2,205 2,096
Gains (losses) and other income (expense), net 24 (7) 37 (7)
Interest expense, net (42) (43) (82) (83)
Transaction and integration costs 0 (3) 0 (18)
Other 0 (1) 0 (2)
INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTERESTS 94 48 196 129
Provision for income taxes (25) (10) (70) (45)
NET INCOME 69 38 126 84
Net income attributable to noncontrolling interests 0 (1) (1) 0
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 69 $ 37 $ 125 $ 84
EARNINGS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS        
Basic (in usd per share) $ 1.98 $ 1.04 $ 3.59 $ 2.36
Diluted (in usd per share) 1.77 0.98 3.23 2.20
CASH DIVIDENDS DECLARED PER SHARE (in usd per share) $ 0.79 $ 0.76 $ 1.58 $ 1.52
Sale of vacation ownership products        
REVENUES        
Revenue from contracts with customers $ 370 $ 309 $ 725 $ 661
EXPENSES        
Expenses 41 38 83 91
Management and exchange        
REVENUES        
Revenue from contracts with customers 219 215 434 426
EXPENSES        
Expenses 121 119 238 235
Rental        
REVENUES        
Revenue from contracts with customers 160 153 329 311
EXPENSES        
Expenses 125 111 248 218
Cost Reimbursement        
REVENUES        
Revenue from contracts with customers $ 407 $ 378 $ 780 $ 769