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Consolidated Statements Of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUES:        
Royalty fees $ 96,114 $ 89,929 $ 247,168 $ 233,543
Initial franchise and relicensing fees 6,284 6,170 17,146 17,703
Procurement services 7,615 6,271 23,719 19,667
Marketing and reservation system 152,018 134,463 412,193 366,298
Other 5,546 4,693 16,220 11,716
Total revenues 267,577 241,526 716,446 648,927
OPERATING EXPENSES:        
Selling, general and administrative 34,357 30,152 109,515 95,712
Depreciation and amortization 2,986 3,108 8,707 8,793
Marketing and reservation system 152,018 134,463 412,193 366,298
Total operating expenses 189,361 167,723 530,415 470,803
Gain on sale of assets, net 402 0 402 0
Operating income 78,618 73,803 186,433 178,124
OTHER INCOME AND EXPENSES, NET:        
Interest expense 11,150 10,821 33,466 32,057
Interest income (836) (359) (2,502) (982)
Other (gains) losses (746) 1,402 (1,005) (239)
Equity in net (income) losses of affiliates (1,150) (329) 286 1,107
Total other income and expenses, net 8,418 11,535 30,245 31,943
Income before income taxes 70,200 62,268 156,188 146,181
Income taxes 22,635 20,849 48,638 47,355
Net income $ 47,565 $ 41,419 $ 107,550 $ 98,826
Basic earnings per share (in dollars per share) $ 0.85 $ 0.72 $ 1.91 $ 1.72
Diluted earnings per share (in dollars per share) 0.84 0.72 1.90 1.71
Cash dividends declared per share (in dollars per share) $ 0.205 $ 0.195 $ 0.615 $ 0.585