XML 16 R4.htm IDEA: XBRL DOCUMENT v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues        
Total revenues $ 1,300 $ 1,306 $ 3,714 $ 3,697
Expenses        
General and administrative 58 44 162 147
Depreciation and amortization 67 68 193 198
Impairment expense 1 0 2 2
Total operating expenses 1,179 1,142 3,421 3,373
Interest expense (79) (84) (235) (250)
Equity in earnings from unconsolidated affiliates 6 4 17 12
Other (loss) gain, net (3) 9 7 1
Income before income taxes 45 93 82 87
Income tax expense (15) (61) (36) (53)
Net income 30 32 46 34
Net income attributable to noncontrolling interest 5 3 13 7
Net income attributable to stockholders $ 25 $ 29 $ 33 $ 27
Earnings per share attributable to stockholders:        
Basic (in dollars per share) $ 0.28 $ 0.28 $ 0.37 $ 0.26
Diluted (in dollars per share) $ 0.28 $ 0.28 $ 0.36 $ 0.26
Sales of VOIs, net        
Revenues        
Total revenues $ 473 $ 550 $ 1,320 $ 1,459
Fee-for-service commissions, package sales and other fees        
Revenues        
Total revenues 188 159 495 471
Financing        
Revenues        
Total revenues 128 105 379 311
Expenses        
Expenses 53 45 162 128
Resort and club management        
Revenues        
Total revenues 193 179 559 516
Expenses        
Expenses 58 50 168 152
Rental and ancillary services        
Revenues        
Total revenues 186 183 568 559
Expenses        
Expenses 190 178 599 539
Cost reimbursements        
Revenues        
Total revenues 132 130 393 381
Expenses        
Expenses 132 130 393 381
Cost of VOI sales        
Expenses        
Expenses 43 75 106 188
Sales and marketing        
Expenses        
Expenses 497 467 1,401 1,321
Acquisition and integration-related expense        
Expenses        
Expenses 24 36 78 193
License fee expense        
Expenses        
Expenses $ 56 $ 49 $ 157 $ 124