Quarterly report pursuant to Section 13 or 15(d)

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

v3.24.2
Condensed Consolidated and Combined Statements of Income/(Loss) (Unaudited) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Net revenues        
Net revenues $ 367 $ 362 $ 671 $ 674
Expenses        
Operating 17 23 36 43
General and administrative 32 31 60 61
Depreciation and amortization 17 19 37 37
Transaction-related 5 4 46 4
Impairment 0 0 12 0
Restructuring 7 0 9 0
Separation-related (12) (2) (11) 0
Total expenses 222 239 476 438
Operating income 145 123 195 236
Interest expense, net 30 24 59 46
Early extinguishment of debt 3 3 3 3
Income before income taxes 112 96 133 187
Provision for income taxes 26 26 31 50
Net income $ 86 $ 70 $ 102 $ 137
Earnings per share        
Basic (in usd per share) $ 1.07 $ 0.82 $ 1.27 $ 1.59
Diluted (in usd per share) $ 1.07 $ 0.82 $ 1.26 $ 1.59
Fee-related and other revenues        
Net revenues        
Net revenues $ 366 $ 358 $ 669 $ 665
Royalties and franchise fees        
Net revenues        
Net revenues   142 260 263
Marketing, reservation and loyalty        
Net revenues        
Net revenues 150 145 267 265
Expenses        
Cost of revenues 155 160 285 284
Management and other fees        
Net revenues        
Net revenues   5 5 8
License and other fees        
Net revenues        
Net revenues   29 57 53
Other        
Net revenues        
Net revenues   37 80 76
Cost reimbursements        
Net revenues        
Net revenues   4 2 9
Expenses        
Cost of revenues $ 1 $ 4 $ 2 $ 9