XML 55 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Income (Unaudited) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Revenues    
Owned, leased and consolidated joint venture hotels $ 402 $ 410
Vacation ownership and residential sales and services 514 153
Management fees, franchise fees and other income 201 177
Other revenues from managed and franchised properties 598 555
Total Revenues 1,715 1,295
Costs and Expenses    
Owned, leased and consolidated joint venture hotels 349 361
Vacation ownership and residential 393 111
Selling, general, administrative and other 96 80
Restructuring, goodwill impairment and other special charges (credits), net (11) 0
Depreciation 57 60
Amortization 6 8
Other expenses from managed and franchised properties 598 555
Total Costs and Expenses 1,488 1,175
Operating income 227 120
Equity (losses) earnings and gains and losses from unconsolidated ventures, net 10 4
Interest expense, net of interest income of $0 and $1 (49) (54)
Gain (loss) on asset dispositions and impairments, net (7) (33)
Income from continuing operations before taxes and noncontrolling interests 181 37
Income tax benefit (expense) (52) (10)
Income (loss) from continuing operations 129 27
Discontinued operations:    
Gain (loss) on dispositions, net of tax (benefit) expense of $1 and $1 (1) (1)
Net income 128 26
Net loss attributable to noncontrolling interests   2
Net income attributable to Starwood 128 28
Earnings (Losses) Per Share - Basic    
Continuing operations $ 0.67 $ 0.16
Discontinued operations $ 0.00 $ (0.01)
Net income $ 0.67 $ 0.15
Earnings (Losses) Per Share - Diluted    
Continuing operations $ 0.65 $ 0.15
Discontinued operations $ 0.00 $ (0.01)
Net income $ 0.65 $ 0.14
Amounts attributable to Starwood's Common Shareholders    
Income (loss) from continuing operations 129 29
Discontinued operations (1) (1)
Net income $ 128 $ 28
Weighted average number of shares 192 187
Weighted average number of shares assuming dilution 197 194