XML 68 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements Of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
REVENUES:      
Royalty fees $ 260,782 $ 245,426 $ 227,979
Initial franchise and relicensing fees 14,203 14,052 10,033
Procurement services 17,962 18,111 17,741
Marketing and reservation 384,784 349,036 329,246
Hotel operations 4,573 4,356 4,031
Other 9,205 7,812 7,046
Total revenues 691,509 638,793 596,076
OPERATING EXPENSES:      
Selling, general and administrative 101,852 106,404 94,540
Depreciation and amortization 8,226 8,024 8,342
Marketing and reservation 384,784 349,036 329,246
Hotel operations 3,505 3,466 3,186
Total operating expenses 498,367 466,930 435,314
Operating Income 193,142 171,863 160,762
OTHER INCOME AND EXPENSES:      
Interest expense 27,189 12,939 6,680
Interest income (1,540) (1,306) (548)
Loss on extinguishment of debt 526 0 0
Other (gains) and losses (1,989) 2,442 (2,355)
Equity in net income of affiliates (212) (269) (1,226)
Other income and expenses, net (23,974) (13,806) (2,551)
Income before income taxes 169,168 158,057 158,211
Income taxes 48,481 47,661 50,770
Net income $ 120,687 $ 110,396 $ 107,441
Basic earnings per share $ 2.08 $ 1.86 $ 1.80
Diluted earnings per share $ 2.07 $ 1.85 $ 1.80