Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Income/(Loss)

v3.21.2
Condensed Consolidated Statements Of Income/(Loss) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Net revenues        
Net revenues $ 839 $ 614 $ 2,264 $ 1,515
Expenses        
Operating 352 263 992 861
Cost/(recovery) of vacation ownership interests 43 22 105 (26)
Consumer financing interest 19 26 63 76
General and administrative 106 101 325 295
Marketing 101 84 261 247
Depreciation and amortization 31 32 93 94
COVID-19 related costs 1 14 3 81
Asset impairments 0 6 0 50
Restructuring 0 2 (1) 27
Total expenses 653 550 1,841 1,705
Operating income/(loss) 186 64 423 (190)
Other (income), net 0 (5) (2) (11)
Interest expense 47 52 147 138
Interest (income) (1) (2) (1) (5)
Income/(loss) before income taxes 140 19 279 (312)
Provision/(benefit) for income taxes 39 (21) 76 (54)
Net income/(loss) from continuing operations 101 40 203 (258)
Loss on disposal of discontinued business, net of income taxes 0 0 (2) 0
Net income/(loss) attributable to Travel + Leisure Co. shareholders $ 101 $ 40 $ 201 $ (258)
Basic earnings/(loss) per share        
Continuing operations [1] $ 1.16 $ 0.47 $ 2.35 $ (3.00)
Discontinued operations [1] 0 0 (0.02) 0
Basic earnings/(loss) per share [1] 1.16 0.47 2.33 (3.00)
Diluted earnings/(loss) per share        
Continuing operations [1] 1.15 0.47 2.33 (3.00)
Discontinued operations [1] 0 0 (0.03) 0
Diluted earnings/(loss) per share [1] $ 1.15 $ 0.47 $ 2.30 $ (3.00)
Service and membership fees        
Net revenues        
Net revenues $ 378 $ 291 $ 1,114 $ 845
Vacation ownership interest sales        
Net revenues        
Net revenues 344 196 810 273
Consumer financing        
Net revenues        
Net revenues 103 115 304 360
Other        
Net revenues        
Net revenues $ 14 $ 12 $ 36 $ 37
[1] Earnings/(loss) per share amounts are calculated using whole numbers.