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Consolidated Statements of Income - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
REVENUES:      
Royalty fees $ 376,676,000 $ 341,745,000 $ 317,699,000
Initial franchise and relicensing fees 26,072,000 23,038,000 19,720,000
Procurement services 52,088,000 40,451,000 35,844,000
Marketing and reservation system 543,677,000 499,625,000 409,120,000
Other 42,791,000 36,438,000 25,526,000
Total revenues 1,041,304,000 941,297,000 807,909,000
OPERATING EXPENSES:      
Selling, general and administrative 170,027,000 165,821,000 154,720,000
Depreciation and amortization 14,330,000 6,680,000 6,996,000
Marketing and reservation system 534,266,000 479,400,000 459,765,000
Total operating expenses 718,623,000 651,901,000 621,481,000
Impairment of goodwill (4,289,000) 0 0
Gain on sale of assets, net 82,000 257,000 627,000
Operating income 318,474,000 289,653,000 187,055,000
OTHER INCOME AND EXPENSES, NET:      
Interest expense 45,908,000 45,039,000 44,446,000
Interest income (7,452,000) (5,920,000) (3,535,000)
Other (gain) loss 1,437,000 (3,229,000) (1,504,000)
Equity in net (income) loss of affiliates 5,323,000 4,546,000 (492,000)
Total other income and expenses, net 45,216,000 40,436,000 38,915,000
Income before income taxes 273,258,000 249,217,000 148,140,000
Income taxes 56,903,000 126,890,000 41,428,000
Net income $ 216,355,000 $ 122,327,000 $ 106,712,000
Basic earnings per share:      
Basic earnings per share (in dollars per share) $ 3.83 $ 2.16 $ 1.90
Diluted earnings per share (in dollars per share) $ 3.80 $ 2.15 $ 1.89