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Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating Activities    
Net income $ 412 $ 175
(Income)/loss from operations of discontinued businesses, net of income taxes 49 (75)
(Income) on disposal of discontinued businesses, net of income taxes (432) 0
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 73 65
Provision for loan losses 218 195
Deferred income taxes 74 21
Stock-based compensation 109 27
Asset impairments 9 140
Non-cash interest 8 11
Net change in assets and liabilities, excluding the impact of acquisitions and dispositions:    
Trade receivables (28) 8
Vacation ownership contract receivables (233) (197)
Inventory (64) (53)
Deferred income 42 31
Accounts payable, accrued expenses, other assets and other liabilities (144) (117)
Net cash provided by operating activities - continuing operations 93 231
Net cash provided by operating activities - discontinued operations 212 431
Net cash provided by operating activities 305 662
Investing Activities    
Property and equipment additions (41) (51)
Net assets acquired, net of cash acquired, and acquisition-related payments (5) (5)
Other, net (6) 13
Cash used in investing activities - continuing operations (52) (43)
Cash used in investing activities - discontinued operations (672) (26)
Net cash used in investing activities (724) (69)
Financing Activities    
Proceeds from non-recourse vacation ownership debt 924 820
Principal payments on non-recourse vacation ownership debt (931) (912)
Proceeds from debt 2,281 564
Principal payments on debt (2,491) (604)
Repayments of commercial paper, net (147) (72)
Proceeds from notes issued and term loan 300 694
Repayment/repurchase of notes (789) (300)
Repayments of vacation ownership inventory arrangement (7) (22)
Dividends to shareholders (114) (125)
Cash transferred to Wyndham Hotels at spin-off (495) 0
Repurchase of common stock (123) (300)
Debt issuance costs (9) (7)
Net share settlement of incentive equity awards (67) (34)
Other, net (2) 0
Cash used in financing activities - continuing operations (1,670) (298)
Cash provided by/(used in) financing activities - discontinued operations 2,066 (11)
Net cash provided by/(used in) financing activities 396 (309)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash (6) 11
Net change in cash, cash equivalents and restricted cash (29) 295
Cash, cash equivalents and restricted cash, beginning of period 416 333
Cash, cash equivalents and restricted cash, end of period 387 628
Less cash, cash equivalents and restricted cash of discontinued operations, end of period 0 310
Cash, cash equivalents and restricted cash of continuing operations, end of period $ 387 $ 318