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Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Operating Activities      
Net income $ 487 $ 475 $ 71
Discontinued operations:      
(Gain) loss on dispositions, net 13 (168) (76)
Depreciation and amortization     8
Other adjustments relating to discontinued operations 0 0 0
Stock-based compensation expense 75 72 53
Excess stock-based compensation tax benefit (22) (20)  
Depreciation and amortization 265 285 309
Amortization of deferred loan costs 11 13 10
Non-cash portion of restructuring, goodwill impairment and other special charges (credits), net   (7) 332
Non-cash foreign currency (gains) losses, net 12 (39) (6)
Amortization of deferred gains 87 81 82
Provision for doubtful accounts 31 55 72
Distributions in excess (deficit) of equity earnings 7 3 30
Gain on sale of VOI notes receivable     (24)
Loss (gain) on asset dispositions and impairments, net   39 91
Non-cash portion of income tax expense (benefit) 63 16 (260)
Changes in working capital:      
Restricted cash (27) 9 46
Accounts receivable (45) (22) 63
Inventories (14) (110) (98)
Prepaid expenses and other (15) 1 10
Accounts payable and accrued expenses 78 13 (44)
Accrued income taxes (195) 200 (50)
Securitized VOI notes receivable activity, net (45) (29)  
VOI notes receivable activity, net 12 1 167
Other, net 37 58 (51)
Cash (used for) from operating activities 641 764 571
Investing Activities      
Purchases of plant, property and equipment (385) (227) (196)
Proceeds from asset sales, net 290 148 310
Issuance of notes receivable (10) (1) (4)
Collection of notes receivable, net 7 2 2
Acquisitions, net of acquired cash (28) (18)  
Purchases of investments (8) (32) (5)
Proceeds from investments 4 49 35
Other, net (46) 8 (26)
Cash (used for) from investing activities (176) (71) 116
Financing Activities      
Revolving credit facility and short-term borrowings (repayments), net   (114) (102)
Long-term debt issued 47 3 726
Long-term debt repaid (650) (9) (1,681)
Long-term securitized debt issued 200 280  
Long-term securitized debt repaid (162) (224)  
Decrease (increase) in restricted cash (144)    
Dividends paid (99) (93) (165)
Proceeds from stock option exercises 70 141 2
Excess stock-based compensation tax benefit 22 20  
Share repurchases 0 0 0
Other, net (39) (30) 227
Cash (used for) from financing activities (755) (26) (993)
Exchange rate effect on cash and cash equivalents (9) (1) 4
Increase (decrease) in cash and cash equivalents (299) 666 (302)
Cash and cash equivalents - beginning of period 753 87 389
Cash and cash equivalents - end of period 454 753 87
Cash paid (received) during the period for:      
Interest 204 244 214
Income taxes, net of refunds 56 (171) 12
Non-cash acquisition of Hotel Imperial $ 57