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Consolidated Statements of Income (Unaudited) (USD $)
In Millions, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues        
Owned, leased and consolidated joint venture hotels $ 478 $ 437 $ 888 $ 818
Vacation ownership and residential sales and services 146 137 299 270
Management fees, franchise fees and other income 201 177 378 330
Other revenues from managed and franchised properties 601 538 1,156 1,058
Total Revenues 1,426 1,289 2,721 2,476
Costs and Expenses        
Owned, leased and consolidated joint venture hotels 381 347 742 676
Vacation ownership and residential 112 103 223 204
Selling, general, administrative and other 88 92 168 168
Restructuring, goodwill impairment and other special charges (credits), net 0 (1) 0 (1)
Depreciation 60 66 120 132
Amortization 7 7 15 17
Other expenses from managed and franchised properties 601 538 1,156 1,058
Total Costs and Expenses 1,249 1,152 2,424 2,254
Operating income 177 137 297 222
Equity earnings (losses) and gains and (losses) from unconsolidated ventures, net 7 3 11 6
Interest expense, net of interest income of $0, $0, $1 and $1 (52) (59) (106) (121)
Gain (loss) on asset dispositions and impairments, net 2 20 (31) 21
Income from continuing operations before taxes and noncontrolling interest 134 101 171 128
Income tax benefit (expense) 16 (22) 6 (21)
Income (loss) from continuing operations 150 79 177 107
Discontinued operations:        
Income (loss) from operations, net of tax (benefit) expense of $0, $0, $0 and $0 0 (1) 0 (1)
Gain (loss) on dispositions, net of tax (benefit) expense of $1, $(34), $2 and (34) (19) 36 (20) 36
Net income 131 114 157 142
Net loss (income) attributable to noncontrolling interests 0 0 2 2
Net income attributable to Starwood 131 114 159 144
Earnings (Losses) Per Share - Basic        
Continuing operations $ 0.79 $ 0.44 $ 0.95 $ 0.60
Discontinued operations $ (0.1) $ 0.19 $ (0.11) $ 0.19
Net income $ 0.69 $ 0.63 $ 0.84 $ 0.79
Earnings (Losses) Per Share - Diluted        
Continuing operations $ 0.77 $ 0.42 $ 0.92 $ 0.58
Discontinued operations $ (0.09) $ 0.19 $ (0.1) $ 0.19
Net income $ 0.68 $ 0.61 $ 0.82 $ 0.77
Amounts attributable to Starwood's Common Shareholders        
Income (loss) from continuing operations 150 79 179 109
Discontinued operations (19) 35 (20) 35
Net income $ 131 $ 114 $ 159 $ 144
Weighted average number of shares 189 182 188 182
Weighted average number of shares assuming dilution 195 189 195 188