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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues        
Owned, leased and consolidated joint venture hotels $ 356 $ 414 $ 672 $ 778
Vacation ownership and residential sales and services 170 171 357 345
Management fees, franchise fees and other income 256 260 496 508
Other revenues from managed and franchised properties 699 694 1,371 1,366
Total revenues 1,481 1,539 2,896 2,997
Costs and Expenses        
Owned, leased and consolidated joint venture hotels 265 314 527 615
Vacation ownership and residential sales and services 126 125 263 253
Selling, general, administrative and other 99 102 190 197
Restructuring and other special charges (credits), net 23 (3) 54 (3)
Depreciation 65 63 127 123
Amortization 8 7 15 15
Other expenses from managed and franchised properties 699 694 1,371 1,366
Total cost and expenses 1,285 1,302 2,547 2,566
Operating income 196 237 349 431
Equity earnings and gains from unconsolidated ventures, net 11 9 26 18
Interest expense, net of interest income of $1, $1, $2 and $2 (27) (23) (58) (46)
Gain (loss) on asset dispositions and impairments, net   3 14 (33)
Income from continuing operations before taxes and noncontrolling interests 180 226 331 370
Income tax expense (44) (73) (96) (81)
Income from continuing operations 136 153 235 289
Discontinued operations:        
Gain on dispositions, net of tax expense (benefit) of $0, $0, $0 and $(1)       1
Net income attributable to Starwood $ 136 $ 153 $ 235 $ 290
Earnings Per Share – Basic        
Continuing operations $ 0.80 $ 0.81 $ 1.38 $ 1.52
Discontinued operations       0.01
Net income 0.80 0.81 1.38 1.53
Earnings Per Share – Diluted        
Continuing operations 0.79 0.80 1.37 1.51
Discontinued operations       0.01
Net income $ 0.79 $ 0.80 $ 1.37 $ 1.52
Weighted average number of shares 169 190 170 190
Weighted average number of shares assuming dilution 170 191 171 191
Dividends declared per share $ 0.375 $ 1.00 $ 0.75 $ 2.00