Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated and Combined Statements of Income (Unaudited)

v3.20.1
Condensed Consolidated and Combined Statements of Income (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Net revenues    
Net revenues $ 410 $ 468
Expenses    
Operating 35 43
General and administrative 28 34
Depreciation and amortization 25 29
Restructuring 13 0
Transaction-related, net 8 7
Separation-related 1 21
Total expenses 354 418
Operating income 56 50
Interest expense, net 25 24
Income before income taxes 31 26
Provision for income taxes 9 5
Net income $ 22 $ 21
Earnings per share    
Basic (in usd per share) $ 0.23 $ 0.22
Diluted (in usd per share) $ 0.23 $ 0.22
Royalties and franchise fees    
Net revenues    
Net revenues $ 92 $ 101
Marketing, reservation and loyalty    
Net revenues    
Net revenues 106 113
Expenses    
Cost of revenues 118 129
Management and other fees    
Net revenues    
Net revenues 32 39
License and other revenues from former Parent    
Net revenues    
Net revenues 21 29
Cost reimbursements    
Net revenues    
Net revenues 126 155
Expenses    
Cost of revenues 126 155
Other    
Net revenues    
Net revenues $ 33 $ 31