Quarterly report [Sections 13 or 15(d)]

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

v3.26.1
Condensed Consolidated and Combined Statements of Income/(Loss) (Unaudited) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Net revenues        
Net revenues $ 375 $ 397 $ 702 $ 713
Expenses        
Operating 26 25 50 45
General and administrative 24 31 59 61
Depreciation and amortization 15 15 31 31
Transaction-related 0 1 3 1
Restructuring and other-related 5 13 10 13
Separation-Related Charges 0 0    
Total expenses 201 247 414 451
Operating income 174 150 288 262
Interest expense, net 36 34 71 68
Income before income taxes 138 116 217 194
Provision for income taxes 36 29 54 45
Net income $ 102 $ 87 $ 163 $ 149
Earnings per share        
Basic (in usd per share) $ 1.37 $ 1.13 $ 2.17 $ 1.92
Diluted (in usd per share) $ 1.36 $ 1.13 $ 2.16 $ 1.90
Royalties and franchise fees        
Net revenues        
Net revenues $ 139 $ 147 $ 253 $ 272
Marketing, reservation and loyalty        
Net revenues        
Net revenues 145 165 267 281
Expenses        
Cost of revenues 131 162 262 300
Management and other fees        
Net revenues        
Net revenues 5 2 9 5
License and other fees        
Net revenues        
Net revenues 32 33 62 60
Other        
Net revenues        
Net revenues $ 54 $ 50 $ 111 $ 95