XML 110 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Revenues      
Owned, leased and consolidated joint venture hotels $ 1,541hot_OwnedLeasedAndConsolidatedJointVentureHotels $ 1,612hot_OwnedLeasedAndConsolidatedJointVentureHotels $ 1,698hot_OwnedLeasedAndConsolidatedJointVentureHotels
Vacation ownership and residential sales and services 674hot_VacationOwnershipAndResidentialSalesAndServices 924hot_VacationOwnershipAndResidentialSalesAndServices 1,287hot_VacationOwnershipAndResidentialSalesAndServices
Management fees, franchise fees and other income 1,057hot_ManagementFeesFranchiseFeesAndOtherIncome 965hot_ManagementFeesFranchiseFeesAndOtherIncome 888hot_ManagementFeesFranchiseFeesAndOtherIncome
Other revenues from managed and franchised properties 2,711hot_OtherRevenuesFromManagedAndFranchisedProperties 2,614hot_OtherRevenuesFromManagedAndFranchisedProperties 2,448hot_OtherRevenuesFromManagedAndFranchisedProperties
Total revenues 5,983us-gaap_Revenues 6,115us-gaap_Revenues 6,321us-gaap_Revenues
Costs and Expenses      
Owned, leased and consolidated joint venture hotels 1,211hot_OwnedLeasedAndConsolidatedJointVentures 1,292hot_OwnedLeasedAndConsolidatedJointVentures 1,391hot_OwnedLeasedAndConsolidatedJointVentures
Vacation ownership and residential 497hot_VacationOwnershipAndResidential 632hot_VacationOwnershipAndResidential 961hot_VacationOwnershipAndResidential
Selling, general, administrative and other 402us-gaap_SellingGeneralAndAdministrativeExpense 384us-gaap_SellingGeneralAndAdministrativeExpense 370us-gaap_SellingGeneralAndAdministrativeExpense
Restructuring and other special charges (credits), net (4)hot_RestructuringAndOtherSpecialChargesCredits 1hot_RestructuringAndOtherSpecialChargesCredits (12)hot_RestructuringAndOtherSpecialChargesCredits
Depreciation 254us-gaap_DepreciationNonproduction 239us-gaap_DepreciationNonproduction 226us-gaap_DepreciationNonproduction
Amortization 29us-gaap_AmortizationOfIntangibleAssets 28us-gaap_AmortizationOfIntangibleAssets 25us-gaap_AmortizationOfIntangibleAssets
Other expenses from managed and franchised properties 2,711hot_OtherExpensesFromManagedAndFranchisedProperties 2,614hot_OtherExpensesFromManagedAndFranchisedProperties 2,448hot_OtherExpensesFromManagedAndFranchisedProperties
Total cost and expenses 5,100us-gaap_CostsAndExpenses 5,190us-gaap_CostsAndExpenses 5,409us-gaap_CostsAndExpenses
Operating income 883us-gaap_OperatingIncomeLoss 925us-gaap_OperatingIncomeLoss 912us-gaap_OperatingIncomeLoss
Equity earnings and gains from unconsolidated ventures, net 27us-gaap_IncomeLossFromEquityMethodInvestments 26us-gaap_IncomeLossFromEquityMethodInvestments 25us-gaap_IncomeLossFromEquityMethodInvestments
Interest expense, net of interest income of $3, $3 and $2 (94)hot_InterestExpenseNetOfInterestIncome (100)hot_InterestExpenseNetOfInterestIncome (170)hot_InterestExpenseNetOfInterestIncome
Loss on early extinguishment of debt, net (1)us-gaap_GainsLossesOnExtinguishmentOfDebt   (128)us-gaap_GainsLossesOnExtinguishmentOfDebt
Loss on asset dispositions and impairments, net (33)hot_GainLossOnAssetDispositionsAndImpairmentsNet (23)hot_GainLossOnAssetDispositionsAndImpairmentsNet (21)hot_GainLossOnAssetDispositionsAndImpairmentsNet
Income from continuing operations before taxes and noncontrolling interests 782us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 828us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 618us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Income tax expense (139)us-gaap_IncomeTaxExpenseBenefit (263)us-gaap_IncomeTaxExpenseBenefit (148)us-gaap_IncomeTaxExpenseBenefit
Income from continuing operations 643us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 565us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 470us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Discontinued operations:      
Loss from operations, net of tax (benefit) expense of $0, $0 and $0   (1)us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax  
Gain (loss) on dispositions, net of tax (benefit) expense of $(5), $(69) and $87 (10)us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax 71us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax 92us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
Net income attributable to Starwood $ 633us-gaap_NetIncomeLoss $ 635us-gaap_NetIncomeLoss $ 562us-gaap_NetIncomeLoss
Earnings (Losses) Per Share - Basic      
Continuing operations $ 3.49us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 2.96us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 2.44us-gaap_IncomeLossFromContinuingOperationsPerBasicShare
Discontinued operations $ (0.06)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $ 0.37us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $ 0.48us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
Net income $ 3.43us-gaap_EarningsPerShareBasic $ 3.33us-gaap_EarningsPerShareBasic $ 2.92us-gaap_EarningsPerShareBasic
Earnings (Losses) Per Share - Diluted      
Continuing operations $ 3.46us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 2.92us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 2.39us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare
Discontinued operations $ (0.06)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $ 0.36us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $ 0.47us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
Net income $ 3.40us-gaap_EarningsPerShareDiluted $ 3.28us-gaap_EarningsPerShareDiluted $ 2.86us-gaap_EarningsPerShareDiluted
Weighted average number of shares 185us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 191us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 193us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Weighted average number of shares assuming dilution 186us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 193us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 197us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
Dividends declared per share $ 4.00us-gaap_CommonStockDividendsPerShareDeclared $ 1.35us-gaap_CommonStockDividendsPerShareDeclared $ 1.25us-gaap_CommonStockDividendsPerShareDeclared