Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated and Combined Statements of Income (Unaudited)

v3.20.2
Condensed Consolidated and Combined Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Net revenues        
Net revenues $ 258 $ 533 $ 667 $ 1,001
Expenses        
Operating 23 38 57 81
General and administrative 26 31 54 65
Depreciation and amortization 25 27 49 56
Impairments, net 206 45 206 45
Restructuring 16 0 29 0
Transaction-related, net 5 11 13 18
Separation-Related Charges 0 1   22
Contract termination 0 9 0 9
Total expenses 452 471 805 889
Operating (loss)/income (194) 62 (138) 112
Interest expense, net 28 26 54 50
(Loss)/income before income taxes (222) 36 (192) 62
(Benefit)/provision for income taxes (48) 10 (40) 15
Net (loss)/income $ (174) $ 26 $ (152) $ 47
(Loss)/earnings per share        
Basic (in usd per share) $ (1.86) $ 0.27 $ (1.63) $ 0.49
Diluted (in usd per share) $ (1.86) $ 0.27 $ (1.63) $ 0.49
Royalties and franchise fees        
Net revenues        
Net revenues $ 61 $ 126 $ 154 $ 228
Marketing, reservation and loyalty        
Net revenues        
Net revenues 82 140 188 254
Expenses        
Cost of revenues 85 149 204 278
Management and other fees        
Net revenues        
Net revenues 6 36 38 75
License and other fees        
Net revenues        
Net revenues 21 33    
Cost reimbursements        
Net revenues        
Net revenues 66 160 192 315
Expenses        
Cost of revenues 66 160 192 315
Other        
Net revenues        
Net revenues $ 22 $ 38 $ 53 $ 68