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 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Net revenues        
Net revenues $ 337 $ 560 $ 1,004 $ 1,561
Expenses        
Operating 25 43 82 124
General and administrative 28 33 82 98
Depreciation and amortization 24 26 73 81
Impairments, net 0 0 206 45
Restructuring 0 0 29 0
Transaction-related, net 0 12 13 30
Separation-Related Charges 0 0   22
Contract termination 0 34 0 43
Total expenses 266 469 1,071 1,356
Operating income/(loss) 71 91 (67) 205
Interest expense, net 29 25 83 76
Income/(loss) before income taxes 42 66 (150) 129
Provision/(benefit) for income taxes 15 21 (25) 36
Net income/(loss) $ 27 $ 45 $ (125) $ 93
Earnings/(loss) per share        
Basic (in usd per share) $ 0.29 $ 0.47 $ (1.34) $ 0.95
Diluted (in usd per share) $ 0.29 $ 0.47 $ (1.34) $ 0.95
Royalties and franchise fees        
Net revenues        
Net revenues $ 96 $ 140 $ 250 $ 368
Marketing, reservation and loyalty        
Net revenues        
Net revenues 99 167 288 421
Expenses        
Cost of revenues 107 160 311 437
Management and other fees        
Net revenues        
Net revenues 12 12 50 88
License and other fees        
Net revenues        
Net revenues 21 35    
Cost reimbursements        
Net revenues        
Net revenues 82 161 274 476
Expenses        
Cost of revenues 82 161 274 476
Other        
Net revenues        
Net revenues $ 27 $ 45 $ 79 $ 111