Quarterly report [Sections 13 or 15(d)]

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

v3.25.1
Condensed Consolidated and Combined Statements of Income/(Loss) (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Net revenues    
Net revenues $ 316 $ 305
Expenses    
Operating 19 19
General and administrative 30 28
Depreciation and amortization 15 20
Transaction-related 1 41
Impairment 0 12
Restructuring 0 3
Separation-related 1 0
Total expenses 204 255
Operating income 112 50
Interest expense, net 33 28
Income before income taxes 79 22
Provision for income taxes 18 6
Net income $ 61 $ 16
Earnings per share    
Basic (in usd per share) $ 0.78 $ 0.20
Diluted (in usd per share) $ 0.78 $ 0.19
Fee-related and other revenues    
Net revenues    
Net revenues $ 316 $ 304
Royalties and franchise fees    
Net revenues    
Net revenues 126 116
Marketing, reservation and loyalty    
Net revenues    
Net revenues 116 117
Expenses    
Cost of revenues 138 131
Management and other fees    
Net revenues    
Net revenues 2 2
License and other fees    
Net revenues    
Net revenues 27 26
Other    
Net revenues    
Net revenues 45 43
Cost reimbursements    
Net revenues    
Net revenues 0 1
Expenses    
Cost of revenues $ 0 $ 1