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Segment Information (Tables)
9 Months Ended
Sep. 30, 2015
Segment Reporting [Abstract]  
Revenues and Segment Earnings

The following tables present revenues and segment earnings for our reportable segments (in millions):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2015

 

 

2014

 

 

2015

 

 

2014

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

345

 

 

$

372

 

 

$

1,098

 

 

$

1,159

 

EAME

 

 

135

 

 

 

162

 

 

 

366

 

 

 

453

 

Asia Pacific

 

 

71

 

 

 

92

 

 

 

203

 

 

 

257

 

Vacation ownership and residential

 

 

169

 

 

 

157

 

 

 

525

 

 

 

497

 

Total segment revenues

 

 

720

 

 

 

783

 

 

 

2,192

 

 

 

2,366

 

Other revenues from managed and franchised hotels

 

 

686

 

 

 

686

 

 

 

2,057

 

 

 

2,052

 

Other corporate revenues – unallocated

 

 

28

 

 

 

24

 

 

 

81

 

 

 

72

 

 

 

$

1,434

 

 

$

1,493

 

 

$

4,330

 

 

$

4,490

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2015

 

 

2014

 

 

2015

 

 

2014

 

Segment Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

160

 

 

$

156

 

 

$

509

 

 

$

512

 

EAME

 

 

50

 

 

 

65

 

 

 

130

 

 

 

158

 

Asia Pacific

 

 

46

 

 

 

54

 

 

 

136

 

 

 

159

 

Vacation ownership and residential

 

 

43

 

 

 

37

 

 

 

136

 

 

 

125

 

Total segment earnings

 

 

299

 

 

 

312

 

 

 

911

 

 

 

954

 

Other corporate unallocated

 

 

29

 

 

 

25

 

 

 

84

 

 

 

73

 

Corporate selling, general, administrative and

   other – unallocated

 

 

(34

)

 

 

(40

)

 

 

(116

)

 

 

(125

)

Loss on asset dispositions and impairments, net

 

 

(46

)

 

 

(22

)

 

 

(32

)

 

 

(55

)

Restructuring and other special (charges) credits

 

 

(9

)

 

 

 

 

 

(63

)

 

 

3

 

Adjustments to equity earnings (a)

 

 

(10

)

 

 

(12

)

 

 

(22

)

 

 

(31

)

Interest expense

 

 

(30

)

 

 

(27

)

 

 

(90

)

 

 

(75

)

Loss on early extinguishment of debt, net

 

 

 

 

 

(1

)

 

 

 

 

 

(1

)

Depreciation and amortization

 

 

(69

)

 

 

(72

)

 

 

(211

)

 

 

(210

)

Discontinued operations

 

 

 

 

 

 

 

 

 

 

 

1

 

Income tax expense

 

 

(42

)

 

 

(54

)

 

 

(138

)

 

 

(135

)

Net income attributable to Starwood

 

$

88

 

 

$

109

 

 

$

323

 

 

$

399

 

 

 

(a)

Includes impairment losses, certain gains on hotel sales, interest expense, depreciation and amortization expense related to equity earnings not allocated to segment earnings.