v3.24.0.1
Consolidated Statements Of Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Net Revenues      
Net revenues $ 3,750 $ 3,567 $ 3,134
Expenses      
Operating 1,684 1,603 1,359
Cost of vacation ownership interests 133 157 157
Consumer financing interest 112 79 81
General and administrative 454 479 434
Marketing 507 451 363
Depreciation and amortization 112 119 124
Restructuring [1] 26 14 (1)
Asset impairments/(recoveries), net 0 10 (5) [2]
COVID-19 related costs 0 2 4
Total expenses 3,028 2,914 2,516
Loss on sale of business 2 0 0
Operating income 720 653 618
Interest expense 251 195 198
Other (income), net (3) (22) (6)
Interest (income) (13) (6) (3)
Income before income taxes 485 486 429
Provision for income taxes 94 130 116
Net income from continuing operations 391 356 313
Gain/(loss) on disposal of discontinued business, net of income taxes 5 1 (5)
Net income attributable to Travel + Leisure Co. shareholders $ 396 $ 357 $ 308
Basic earnings per share      
Continuing operations [3] $ 5.24 $ 4.27 $ 3.62
Discontinued operations [3] 0.07 0.01 (0.06)
Basic earnings per share [3] 5.31 4.28 3.56
Diluted earnings per share      
Continuing operations [3] 5.21 4.23 3.58
Discontinued operations [3] 0.07 0.01 (0.06)
Diluted earnings per share [3] $ 5.28 $ 4.24 $ 3.52
Service and membership fees      
Net Revenues      
Net revenues $ 1,649 $ 1,611 $ 1,502
Vacation ownership interest sales      
Net Revenues      
Net revenues 1,582 1,484 1,176
Consumer financing      
Net Revenues      
Net revenues 427 406 404
Other      
Net Revenues      
Net revenues $ 92 $ 66 $ 52
[1] Includes $2 million and $3 million of stock-based compensation expense for the years ended December 31, 2023 and 2022 associated with the 2023 and 2022 restructuring plans.
[2] Includes $1 million of inventory impairments for the years ended December 31, 2023 and 2022, included in Cost of vacation ownership interests on the Consolidated Statements of Income.
[3] Earnings per share amounts are calculated using whole numbers.

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