v3.26.1
INTERIM CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
REVENUES        
Revenue from contracts with customers $ 1,228 $ 1,156 $ 2,393 $ 2,268
Financing 92 90 184 178
TOTAL REVENUES 1,320 1,246 2,577 2,446
EXPENSES        
Marketing and sales 281 237 523 471
Financing 42 37 83 73
Royalty fee 29 28 57 56
General and administrative 62 61 126 122
Depreciation and amortization 32 38 66 76
Litigation charges (1) 5 1 12
Modernization 10 34 26 44
Restructuring 0 0 6 0
Impairment 0 0 0 2
Cost reimbursements 400 407 830 780
TOTAL EXPENSES 1,159 1,134 2,328 2,205
(Losses) gains and other (expense) income, net (4) 24 (2) 37
Interest expense, net (43) (42) (87) (82)
Other 0 0 (1) 0
INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTERESTS 114 94 159 196
Provision for income taxes (37) (25) (60) (70)
NET INCOME 77 69 99 126
Net income attributable to noncontrolling interests 0 0 0 (1)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 77 $ 69 $ 99 $ 125
EARNINGS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS        
Basic (in usd per share) $ 2.21 $ 1.98 $ 2.86 $ 3.59
Diluted (in usd per share) 2.12 1.77 2.82 3.23
CASH DIVIDENDS DECLARED PER SHARE (in usd per share) $ 0.80 $ 0.79 $ 1.60 $ 1.58
Sale of vacation ownership products        
REVENUES        
Revenue from contracts with customers $ 430 $ 370 $ 773 $ 725
EXPENSES        
Expenses 43 41 89 83
Management and exchange        
REVENUES        
Revenue from contracts with customers 225 219 441 434
EXPENSES        
Expenses 121 121 241 238
Rental        
REVENUES        
Revenue from contracts with customers 173 160 349 329
EXPENSES        
Expenses 140 125 280 248
Cost reimbursements        
REVENUES        
Revenue from contracts with customers $ 400 $ 407 $ 830 $ 780