Separation-Related and Transaction-Related Costs |
3 Months Ended |
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Mar. 31, 2018 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Separation-Related and Transaction-Related Costs |
Separation-Related and Transaction-Related Costs
On May 31, 2018, Wyndham Worldwide completed the Distribution, which resulted in Wyndham Worldwide’s operations being held by two separate, publicly traded companies (see Note 1 - Basis of Presentation for further details).
For the three months ended March 31, 2018, the Company incurred $12 million of separation-related costs associated with its spin-off from Wyndham Worldwide. These costs primarily consist of severance and other employee-related costs.
For the three months ended March 31, 2018, the Company incurred $2 million of transaction-related costs consisting primarily of $7 million related to the Company’s planned acquisition of La Quinta, offset by a $5 million reversal of an accrued acquisition-related contingency associated with the Company’s Rio Mar property.
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- References No definition available.
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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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