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Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Operating Activities    
Net income $ 323 $ 399
Discontinued operations:    
Gain on dispositions, net   (1)
Depreciation and amortization 211 210
Amortization of deferred gains (67) (65)
Non-cash portion of restructuring and other special charges (credits), net 9 (3)
Loss on debt extinguishment, net   1
Loss on asset dispositions and impairments, net 32 55
Stock-based compensation expense 39 38
Excess stock-based compensation tax benefit (12) (9)
Distributions in excess (deficit) of equity earnings (9) 1
Deferred income tax expense 21 10
Other non-cash adjustments to net income 24 39
Decrease (increase) in restricted cash 70 (21)
Other changes in working capital (23) 15
Securitized VOI notes receivable activity, net 54 76
Unsecuritized VOI notes receivable activity, net (67) (82)
Accrued income taxes and other 86 30
Cash from operating activities 691 693
Investing Activities    
Purchases of plant, property and equipment (170) (237)
Proceeds from asset sales, net of transaction costs 767 225
Acquisitions, net of acquired cash (40) (24)
Issuance of notes receivable, net (26)  
Distributions from investments, net 37 4
Other, net 1 (2)
Cash from (used for) investing activities 569 (34)
Financing Activities    
Commercial paper, net (536) 106
Revolving credit facility and short-term borrowings, net (4)  
Decrease in restricted cash   94
Long-term debt issued 10 656
Long-term debt repaid (3) (3)
Long-term securitized debt repaid (61) (83)
Dividends paid (196) (562)
Proceeds from employee stock option exercises 13 24
Excess stock-based compensation tax benefit 12 9
Share repurchases (328) (1,027)
Other, net (22) (27)
Cash used for financing activities (1,115) (813)
Exchange rate effect on cash and cash equivalents (14) (8)
Increase (decrease) in cash and cash equivalents 131 (162)
Cash and cash equivalents - beginning of period 935 616
Cash and cash equivalents - end of period 1,066 454
Cash paid during the period for:    
Interest 73 51
Income taxes, net of refunds $ 82 112
Non-cash capital lease obligation   $ 153