Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated and Combined Statements of Income

v3.10.0.1
Condensed Consolidated and Combined Statements of Income - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Net revenues        
Net revenues $ 435 $ 331 $ 737 $ 620
Expenses        
Operating 47 43 87 88
General and administrative 26 23 49 44
Depreciation and amortization 22 19 41 37
Separation-related 35 0 46 0
Transaction-related, net 28 0 30 0
Restructuring 0 0 0 1
Total expenses 396 247 641 480
Operating income 39 84 96 140
Interest expense, net 10 2 11 4
Income before income taxes 29 82 85 136
Provision for income taxes 8 34 24 55
Net income $ 21 $ 48 $ 61 $ 81
Earnings per share        
Basic (in usd per share) $ 0.21 $ 0.48 $ 0.61 $ 0.81
Diluted (in usd per share) 0.21 0.48 0.61 0.81
Cash dividends declared per share (in usd per share) $ 0.25 $ 0 $ 0.25 $ 0
Royalties and franchise fees        
Net revenues        
Net revenues $ 113 $ 95 $ 194 $ 170
Marketing, reservation and loyalty        
Net revenues        
Net revenues 124 96 208 173
Expenses        
Cost of revenues 124 93 208 174
Hotel management        
Net revenues        
Net revenues 28 27 58 56
License and other revenues from former Parent        
Net revenues        
Net revenues 25 20 43 36
Cost reimbursements        
Net revenues        
Net revenues 114 69 180 136
Expenses        
Cost of revenues 114 69 180 136
Other        
Net revenues        
Net revenues $ 31 $ 24 $ 54 $ 49