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BUSINESS SEGMENTS
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
BUSINESS SEGMENTS BUSINESS SEGMENTS
Beginning in the 2021 first quarter, we modified our segment structure due to a change in the way our chief operating decision maker evaluates results and allocates resources within the Company, resulting in the following two operating segments, both of which meet the applicable accounting criteria for separate disclosure as a reportable business segment: United States and Canada (“U.S. & Canada”) and International. We revised the prior period amounts shown in the tables below to conform to our current presentation.
We evaluate the performance of our operating segments using “segment profits/loss” which is based largely on the results of the segment without allocating corporate expenses, income taxes, indirect general, administrative, and other expenses, merger-related costs, or most above-property restructuring charges. We assign gains and losses, equity in earnings or losses, direct general, administrative, and other expenses, and other restructuring charges to each of our segments. “Unallocated corporate and other” includes a portion of our revenues (including license fees we receive from our credit card programs and fees from vacation ownership licensing agreements), revenues and expenses for our Loyalty Program, general, administrative, and other expenses, restructuring and merger-related charges, equity in earnings or losses, and other gains or losses that we do not allocate to our segments.
Our chief operating decision maker monitors assets for the consolidated Company but does not use assets by operating segment when assessing performance or making operating segment resource allocations.
Segment Revenues
The following table presents our revenues disaggregated by segment and major revenue stream for the last three fiscal years:
202120202019
($ in millions)U.S. & CanadaInternationalTotalU.S. & CanadaInternationalTotalU.S. & CanadaInternationalTotal
Gross fee revenues$1,580 $568 $2,148 $914 $338 $1,252 $2,265 $1,032 $3,297 
Contract investment amortization(55)(20)(75)(108)(24)(132)(48)(14)(62)
Net fee revenues1,525 548 2,073 806 314 1,120 2,217 1,018 3,235 
Owned, leased, and other revenue282 467 749 198 317 515 715 841 1,556 
Cost reimbursement revenue8,549 1,239 9,788 6,901 966 7,867 13,901 1,685 15,586 
Total reportable segment revenue$10,356 $2,254 $12,610 $7,905 $1,597 $9,502 $16,833 $3,544 $20,377 
Unallocated corporate and other1,247 1,069 595 
Total revenue$13,857 $10,571 $20,972 
Revenues attributed to operations located outside the U.S. were $2,615 million in 2021, $1,910 million in 2020, and $4,400 million in 2019, including cost reimbursement revenue outside the U.S. of $1,553 million in 2021, $1,247 million in 2020, and $2,394 million in 2019.
Segment Profits and Losses
($ in millions)202120202019
U.S. & Canada (1)
$1,394 $198 $2,000 
International (2)
258 (222)804 
Unallocated corporate and other(80)(24)(837)
Interest expense, net of interest income(392)(418)(368)
(Provision) benefit for income taxes(81)199 (326)
Net income (loss)$1,099 $(267)$1,273 
(1)    Includes cost reimbursements, net of $51 million in 2021, $(80) million in 2020, and $(129) million in 2019.
(2)    Includes cost reimbursements, net of $14 million in 2021, $(55) million in 2020, and $(18) million in 2019.
Segment profits (losses) attributed to operations located outside the U.S. were $297 million in 2021, $(198) million in 2020, and $982 million in 2019, including cost reimbursements, net (cost reimbursement revenue, net of reimbursed expenses) outside the U.S. of $14 million in 2021, $(62) million in 2020, and $(18) million in 2019.
Depreciation, Amortization, and Other
($ in millions)202120202019
U.S. & Canada
$92 $209 $218 
International
106 113 96 
Unallocated corporate and other
22 24 27 
$220 $346 $341 
Capital Expenditures
($ in millions)202120202019
U.S. & Canada
$13 $12 $287 
International
12 17 166 
Unallocated corporate and other
158 106 200 
$183 $135 $653