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Condensed Consolidated Statements of Operations (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues        
Total revenues $ 466,000,000 $ 427,000,000 $ 1,370,000,000 $ 1,357,000,000
Expenses        
General and administrative 28,000,000 31,000,000 82,000,000 84,000,000
Depreciation and amortization 14,000,000 9,000,000 37,000,000 25,000,000
Total operating expenses 384,000,000 364,000,000 1,139,000,000 1,092,000,000
Interest expense (12,000,000) (7,000,000) (33,000,000) (22,000,000)
Equity in earnings from unconsolidated affiliates 1,000,000 1,000,000 4,000,000  
Other loss, net (1,000,000) (1,000,000) (3,000,000) (1,000,000)
Income before income taxes 70,000,000 56,000,000 199,000,000 242,000,000
Income tax expense (20,000,000) (15,000,000) (55,000,000) (64,000,000)
Net income [1] $ 50,000,000 $ 40,533,279 $ 144,352,584 $ 177,564,538
Earnings per share:        
Basic $ 0.59 $ 0.42 $ 1.61 $ 1.82
Diluted $ 0.59 $ 0.42 $ 1.60 $ 1.81
Sales of VOIs, Net        
Revenues        
Total revenues $ 138,000,000 $ 99,000,000 $ 383,000,000 $ 427,000,000
Sales, Marketing, Brand and Other Fees        
Revenues        
Total revenues 143,000,000 152,000,000 429,000,000 423,000,000
Financing        
Revenues        
Total revenues 43,000,000 40,000,000 127,000,000 117,000,000
Expenses        
Expenses 14,000,000 12,000,000 39,000,000 35,000,000
Resort and Club Management        
Revenues        
Total revenues 45,000,000 40,000,000 130,000,000 116,000,000
Expenses        
Expenses 11,000,000 11,000,000 34,000,000 33,000,000
Rental and Ancillary Services        
Revenues        
Total revenues 54,000,000 60,000,000 173,000,000 164,000,000
Expenses        
Expenses 36,000,000 37,000,000 108,000,000 95,000,000
Cost Reimbursements        
Revenues        
Total revenues 43,000,000 36,000,000 128,000,000 110,000,000
Expenses        
Expenses 43,000,000 36,000,000 128,000,000 110,000,000
Cost of VOI Sales        
Expenses        
Expenses 24,000,000 29,000,000 92,000,000 109,000,000
Sales and Marketing        
Expenses        
Expenses 188,000,000 174,000,000 544,000,000 528,000,000
License Fee Expense        
Expenses        
Expenses $ 26,000,000 $ 25,000,000 $ 75,000,000 $ 73,000,000
[1] Net income for the three months ended September 30, 2019 and 2018 was $50,659,927 and $40,533,279, respectively, and for the nine months ended September 30, 2019