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Consolidated Statements Of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
REVENUES:        
Royalty fees $ 86,195 $ 81,183 $ 151,054 $ 143,614
Initial franchise and relicensing fees 5,706 5,816 10,862 11,533
Procurement services 10,308 8,589 16,104 13,396
Marketing and reservation system 133,814 133,122 260,175 231,835
Other 5,728 3,446 10,674 7,023
Total revenues 241,751 232,156 448,869 407,401
OPERATING EXPENSES:        
Selling, general and administrative 40,039 33,122 75,158 65,560
Depreciation and amortization 2,956 2,995 5,721 5,685
Marketing and reservation system 133,814 133,122 260,175 231,835
Total operating expenses 176,809 169,239 341,054 303,080
Operating income 64,942 62,917 107,815 104,321
OTHER INCOME AND EXPENSES, NET:        
Interest expense 11,224 11,057 22,316 21,236
Interest income (827) (277) (1,666) (623)
Other gains (321) (1,173) (259) (1,641)
Equity in net (income) losses of affiliates (744) 431 1,436 1,436
Total other income and expenses, net 9,332 10,038 21,827 20,408
Income before income taxes 55,610 52,879 85,988 83,913
Income taxes 16,788 17,066 26,003 26,506
Net income $ 38,822 $ 35,813 $ 59,985 $ 57,407
Basic earnings per share (in dollars per share) $ 0.69 $ 0.62 $ 1.06 $ 1.00
Diluted earnings per share (in dollars per share) 0.68 0.62 1.06 0.99
Cash dividends declared per share (in dollars per share) $ 0.205 $ 0.195 $ 0.41 $ 0.39