v3.22.1
Condensed Consolidated Statements Of Income/(Loss) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Net revenues    
Net revenues $ 809 $ 628
Expenses    
Operating 381 290
Cost of vacation ownership interests 40 21
Consumer financing interest 17 24
General and administrative 120 106
Marketing 94 69
Depreciation and amortization 30 31
Restructuring [2] 7 [1] (1)
COVID-19 related costs 2 1
Asset impairments 1 0
Total expenses 692 541
Operating income 117 87
Interest expense 47 53
Interest (income) (1) (1)
Other (income), net (3) 0
Income before income taxes 74 35
Provision for income taxes 23 6
Net income attributable to Travel + Leisure Co. shareholders $ 51 $ 29
Basic earnings per share    
Basic earnings per share [3] $ 0.59 $ 0.33
Diluted earnings per share    
Diluted earnings per share [3] $ 0.59 $ 0.33
Service and membership fees    
Net revenues    
Net revenues $ 402 $ 348
Vacation ownership interest sales    
Net revenues    
Net revenues 297 172
Consumer financing    
Net revenues    
Net revenues 98 98
Other    
Net revenues    
Net revenues $ 12 $ 10
[1] Included in Restructuring on the Condensed Consolidated Statements of Income.
[2] Includes $3 million of stock-based compensation expense for the three months ended March 31, 2022 associated with the 2022 restructuring.
[3] Earnings per share amounts are calculated using whole numbers.

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