v3.21.2
Condensed Consolidated Statements Of Income/(Loss) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Net revenues        
Net revenues $ 797 $ 343 $ 1,425 $ 901
Expenses        
Operating 349 200 639 598
Cost/(recovery) of vacation ownership interests 41 (17) 62 (48)
Consumer financing interest 20 25 44 50
General and administrative 112 85 218 195
Marketing 92 32 161 163
Depreciation and amortization 31 31 63 62
COVID-19 related costs 1 45 2 67
Asset impairments 0 33 0 44
Restructuring 0 23 (1) 25
Total expenses 646 457 1,188 1,156
Operating income/(loss) 151 (114) 237 (255)
Other (income), net 0 (5) (1) (7)
Interest expense 47 46 100 87
Interest (income) (1) (2) (1) (4)
Income/(loss) before income taxes 105 (153) 139 (331)
Provision/(benefit) for income taxes 31 11 37 (33)
Net income/(loss) from continuing operations 74 (164) 102 (298)
Loss on disposal of discontinued business, net of income taxes (2) 0 (2) 0
Net income/(loss) attributable to Travel + Leisure shareholders $ 72 $ (164) $ 100 $ (298)
Basic earnings/(loss) per share        
Continuing operations [1] $ 0.85 $ (1.92) $ 1.18 $ (3.46)
Discontinued operations [1] (0.02) 0 (0.02) 0
Basic earnings/(loss) per share [1] 0.83 (1.92) 1.16 (3.46)
Diluted earnings/(loss) per share        
Continuing operations [1] 0.84 (1.92) 1.17 (3.46)
Discontinued operations [1] (0.02) 0 (0.02) 0
Diluted earnings/(loss) per share [1] $ 0.82 $ (1.92) $ 1.15 $ (3.46)
Service and membership fees        
Net revenues        
Net revenues $ 388 $ 227 $ 736 $ 554
Vacation ownership interest sales        
Net revenues        
Net revenues 294 (13) 466 77
Consumer financing        
Net revenues        
Net revenues 102 119 201 246
Other        
Net revenues        
Net revenues $ 13 $ 10 $ 22 $ 24
[1] Earnings/(loss) per share amounts are calculated using whole numbers.

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