Quarterly report pursuant to Section 13 or 15(d)

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

v3.22.2
Condensed Consolidated and Combined Statements of Income/(Loss) (Unaudited) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Net revenues        
Net revenues $ 386 $ 406 $ 757 $ 709
Expenses        
Operating 28 31 64 58
General and administrative 31 27 59 51
Depreciation and amortization 17 24 40 47
Loss/(gain) on asset sales 1 0 (35) 0
Separation-related (income)/expenses (1) 1 (1) 3
Total expenses 241 273 452 512
Operating income 145 133 305 197
Interest expense, net 20 22 39 51
Early extinguishment of debt 2 18 2 18
Income before income taxes 123 93 264 128
Provision for income taxes 31 25 66 35
Net income $ 92 $ 68 $ 198 $ 93
Earnings per share        
Basic (in usd per share) $ 1.00 $ 0.73 $ 2.15 $ 0.99
Diluted (in usd per share) $ 1.00 $ 0.73 $ 2.13 $ 0.99
Fee-related and other revenues        
Net revenues        
Net revenues $ 354 $ 321 $ 669 $ 554
Royalties and franchise fees        
Net revenues        
Net revenues 133 122 242 200
Marketing, reservation and loyalty        
Net revenues        
Net revenues 145 119 257 204
Expenses        
Cost of revenues 133 105 237 198
Management and other fees        
Net revenues        
Net revenues 16 30 51 50
License and other fees        
Net revenues        
Net revenues 27 20 46 40
Other        
Net revenues        
Net revenues 33 30 73 60
Cost reimbursements        
Net revenues        
Net revenues 32 85 88 155
Expenses        
Cost of revenues $ 32 $ 85 $ 88 $ 155