v3.26.3
INTERIM CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
REVENUES        
Revenue from contracts with customers $ 1,272 $ 1,173 $ 3,665 $ 3,441
Financing 95 90 279 268
TOTAL REVENUES 1,367 1,263 3,944 3,709
EXPENSES        
Marketing and sales 268 234 791 705
Financing 45 38 128 111
Royalty fee 29 29 86 85
General and administrative 71 53 197 175
Depreciation and amortization 33 38 99 114
Litigation charges (2) 4 (1) 16
Modernization 6 53 32 97
Restructuring 10 0 16 0
Impairment 0 31 0 33
Cost reimbursements 446 451 1,276 1,231
TOTAL EXPENSES 1,214 1,230 3,542 3,435
Gains and other income, net 3 11 1 48
Interest expense, net (43) (43) (130) (125)
Other 0 0 (1) 0
INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTERESTS 113 1 272 197
Provision for income taxes (31) (3) (91) (73)
NET INCOME (LOSS) 82 (2) 181 124
Net income attributable to noncontrolling interests 0 0 0 (1)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 82 $ (2) $ 181 $ 123
EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS        
Basic (in usd per share) $ 2.37 $ (0.07) $ 5.23 $ 3.52
Diluted (in usd per share) 2.24 (0.07) 5.07 3.27
CASH DIVIDENDS DECLARED PER SHARE (in usd per share) $ 0.80 $ 0.79 $ 2.40 $ 2.37
Sale of vacation ownership products        
REVENUES        
Revenue from contracts with customers $ 459 $ 358 $ 1,232 $ 1,083
EXPENSES        
Expenses 49 52 138 135
Management and exchange        
REVENUES        
Revenue from contracts with customers 212 214 653 648
EXPENSES        
Expenses 116 118 357 356
Rental        
REVENUES        
Revenue from contracts with customers 155 150 504 479
EXPENSES        
Expenses 143 129 423 377
Cost reimbursements        
REVENUES        
Revenue from contracts with customers $ 446 $ 451 $ 1,276 $ 1,231