XML 464 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
6 Months Ended 12 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Operating Activities          
Net income $ 336 $ 195 $ 460 $ 359 $ 255
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization 311 309 603 550 564
Impairment losses     0 54 20
Equity in losses (earnings) from unconsolidated affiliates (12) (8) (16) 11 145
Loss (gain) on foreign currency transactions (46) 82 45 (23) 21
Gain on debt extinguishment     (229) 0 0
Other loss (gain), net (14) (6) (7) (15) (19)
Share-based compensation 41 3 262 50 19
Amortization of deferred financing costs and other     25 (5) 6
Distributions from unconsolidated affiliates 11 10 27 31 13
Deferred income taxes (42) 25 65 73 (187)
Increase (decrease) in accounts receivable     (16) (82) (43)
Increase (decrease) in inventories     19 137 119
Increase (decrease) in prepaid expense     4 (15) (7)
Increase (decrease) in other current assets     (65) 51 (29)
Increase (decrease) in accounts payable, accrued liabilities and other     132 71 151
Increase (decrease) in income taxes payable     (8) 3 0
Change in restricted cash and cash equivalents (1) (46) 91 (79) (14)
Increase (decrease) in timeshare financing receivables     (15) (68) (53)
Increase (decrease) in deferred revenues     592 (8) 0
Increase (decrease) in liability for guest loyalty program     139 6 128
Increase (decrease) in other liabilities     14 (48) 83
Working capital changes and other (72) 74 (21) 57 (5)
Net cash provided by operating activities 512 638 2,101 1,110 1,167
Investing Activities:          
Capital expenditures for property and equipment (110) (121) (254) (433) (389)
Acquisitions 0 (30) (30) 0 (12)
Payments received on other financing receivables 2 1 5 8 7
Issuance of other financing receivables (1) (7) (10) (4) 0
Investments in affiliates (5) (3) (4) (3) (11)
Distributions from unconsolidated affiliates 11 13 33 8 23
Proceeds from asset dispositions 35 0 0 0 65
Contract acquisition costs (21) (10) (44) (31) (53)
Software capitalization costs (32) (26) (78) (103) (93)
Net cash used in investing activities (121) (183) (382) (558) (463)
Financing Activities:          
Proceeds from issuance of common stock     1,243 0 0
Borrowings 350 451 14,088 96 40
Repayment of debt (783) (952) (17,203) (854) (726)
Debt issuance costs (2) 0 (180) 0 0
Change in restricted cash and cash equivalents (17) (30) 193 187 (25)
Capital contribution 13 0      
Distributions to noncontrolling interests (2) (3) (4) (4) (3)
Acquisition of noncontrolling interests     0 (1) 0
Net cash used in financing activities (441) (534) (1,863) (576) (714)
Effect of exchange rate changes on cash and cash equivalents 1 (15) (17) (2) (5)
Net increase (decrease) in cash and cash equivalents (49) (94) (161) (26) (15)
Cash and cash equivalents, beginning of period 594 755 755 781 796
Cash and cash equivalents, end of period 545 661 594 755 781
Cash paid during the year:          
Interest 257 288 535 486 470
Income taxes, net of refunds 141 40 233 103 114
Non-Cash Capital Lease Asset Increase 11     15  
Non-cash capital lease asset reduction   (44) (44)   (76)
Non-Cash Capital Lease Obligation Increase 11     15  
Non-cash capital lease obligation reduction   $ (48) $ (48)   $ (73)