Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated and Combined Statements of Income (Unaudited)

v3.21.1
Condensed Consolidated and Combined Statements of Income (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Net revenues    
Net revenues $ 303 $ 410
Expenses    
Operating 27 35
General and administrative 24 28
Depreciation and amortization 24 25
Restructuring 0 13
Transaction-related, net 0 8
Separation-Related Charges 2 1
Total expenses 240 354
Operating income 63 56
Interest expense, net 28 25
Income before income taxes 35 31
Provision for income taxes 11 9
Net income $ 24 $ 22
Earnings per share    
Basic (in usd per share) $ 0.26 $ 0.23
Diluted (in usd per share) $ 0.26 $ 0.23
Royalties and franchise fees    
Net revenues    
Net revenues $ 78 $ 92
Marketing, reservation and loyalty    
Net revenues    
Net revenues 85 106
Expenses    
Cost of revenues 92 118
Management and other fees    
Net revenues    
Net revenues 19 32
License and other fees    
Net revenues    
Net revenues 20 21
Cost reimbursements    
Net revenues    
Net revenues 71 126
Expenses    
Cost of revenues 71 126
Other    
Net revenues    
Net revenues $ 30 $ 33