Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated and Combined Statements of Income/(Loss) (Unaudited)

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Condensed Consolidated and Combined Statements of Income/(Loss) (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Net revenues    
Net revenues $ 305 $ 313
Expenses    
Operating 19 20
General and administrative 28 30
Depreciation and amortization 20 19
Transaction-related 41 0
Impairment 12 0
Restructuring 3 0
Separation-related 0 2
Total expenses 255 200
Operating income 50 113
Interest expense, net 28 22
Income before income taxes 22 91
Provision for income taxes 6 24
Net income $ 16 $ 67
Earnings per share    
Basic (in usd per share) $ 0.20 $ 0.77
Diluted (in usd per share) $ 0.19 $ 0.77
Fee-related and other revenues    
Net revenues    
Net revenues $ 304 $ 308
Royalties and franchise fees    
Net revenues    
Net revenues 116 121
Marketing, reservation and loyalty    
Net revenues    
Net revenues 117 120
Expenses    
Cost of revenues 131 124
Management and other fees    
Net revenues    
Net revenues 2 3
License and other fees    
Net revenues    
Net revenues 26 23
Other    
Net revenues    
Net revenues 43 41
Cost reimbursements    
Net revenues    
Net revenues 1 5
Expenses    
Cost of revenues $ 1 $ 5