Quarterly report pursuant to Section 13 or 15(d)

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

v3.24.3
Condensed Consolidated and Combined Statements of Income/(Loss) (Unaudited) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Net revenues        
Net revenues $ 396 $ 402 $ 1,067 $ 1,076
Expenses        
Operating 23 24 59 65
General and administrative 30 31 91 93
Depreciation and amortization 17 19 54 56
Transaction-related 1 1 46 5
Impairment 0 0 12 0
Restructuring 2 0 11 0
Separation-related 1 0 (11) 0
Total expenses 225 239 701 677
Operating income 171 163 366 399
Interest expense, net 34 27 93 73
Early extinguishment of debt 0 0 3 3
Income before income taxes 137 136 270 323
Provision for income taxes 35 33 66 83
Net income $ 102 $ 103 $ 204 $ 240
Earnings per share        
Basic (in usd per share) $ 1.30 $ 1.22 $ 2.55 $ 2.81
Diluted (in usd per share) $ 1.29 $ 1.21 $ 2.54 $ 2.79
Fee-related and other revenues        
Net revenues        
Net revenues $ 394 $ 400 $ 1,063 $ 1,064
Royalties and franchise fees        
Net revenues        
Net revenues   152 419 415
Marketing, reservation and loyalty        
Net revenues        
Net revenues 161 179 429 445
Expenses        
Cost of revenues 149 162 435 446
Management and other fees        
Net revenues        
Net revenues   3 7 11
License and other fees        
Net revenues        
Net revenues   30 89 83
Other        
Net revenues        
Net revenues   36 119 110
Cost reimbursements        
Net revenues        
Net revenues   2 4 12
Expenses        
Cost of revenues $ 2 $ 2 $ 4 $ 12