XML 12 R2.htm IDEA: XBRL DOCUMENT v3.22.2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUES        
Total revenues $ 367,974 $ 278,344 $ 625,701 $ 461,291
OPERATING EXPENSES        
Selling, general and administrative 43,888 34,470 74,212 64,737
Depreciation and amortization 5,479 6,232 11,710 12,594
Marketing and reservation system 153,846 113,285 267,496 211,458
Owned hotels 10,692 5,333 18,846 9,480
Total operating expenses 213,905 159,320 372,264 298,269
Gain on sale of business and assets, net 3,280 0 3,309 0
Operating income 157,349 119,024 256,746 163,022
OTHER INCOME AND EXPENSES, NET        
Interest expense 11,252 11,691 22,722 23,468
Interest income (1,628) (1,234) (2,908) (2,515)
Other loss (gain) 5,559 (2,108) 7,275 (3,313)
Equity in net loss (gain) of affiliates 40 (1,179) (204) 4,818
Total other income and expenses, net 15,223 7,170 26,885 22,458
Income before income taxes 142,126 111,854 229,861 140,564
Income tax expense 35,958 25,972 56,302 32,345
Net income $ 106,168 $ 85,882 $ 173,559 $ 108,219
Basic earnings per share (in usd per share) $ 1.90 $ 1.54 $ 3.11 $ 1.95
Diluted earnings per share (in usd per share) 1.89 1.53 3.08 1.93
Cash dividends declared per share (in usd per share) $ 0.2375 $ 0.225 $ 0.4750 $ 0.225
Royalty fees        
REVENUES        
Total revenues $ 121,449 $ 106,242 $ 212,188 $ 172,289
Initial franchise and relicensing fees        
REVENUES        
Total revenues 6,222 7,328 14,624 12,755
Procurement services        
REVENUES        
Total revenues 21,803 12,092 33,486 23,283
Marketing and reservation system        
REVENUES        
Total revenues 189,382 135,988 316,019 227,509
Owned hotels        
REVENUES        
Total revenues 17,191 8,993 29,228 13,347
Other        
REVENUES        
Total revenues $ 11,927 $ 7,701 $ 20,156 $ 12,108