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| In millions, except per share items | Dec-31-15 | Dec-31-14 | Dec-31-13 | Dec-31-12 | Dec-31-11 | Dec-31-10 | Dec-31-09 | Dec-31-08 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K/A |
| Revenues: |
| Other revenues from managed and franchised hotels | 2,736.0 | 2,711.0 | 2,614.0 | 2,448.0 | 2,339.0 | 2,117.0 | | |
| Americas | 1,472.0 | 1,559.0 | 1,548.0 | 1,627.0 | 1,630.0 | 1,597.0 | | |
| Vacation Ownership & Residential | | | | | 688.0 | 526.0 | 674.0 | 894.0 |
| Vacation ownership and residential | 681.0 | 663.0 | 905.0 | 1,271.0 | 688.0 | | 674.0 | |
| Other | 874.0 | 1,050.0 | 1,048.0 | 975.0 | 279.0 | 831.0 | 3,348.0 | 4,860.0 |
| Total revenues [+] | 5,763.0 | 5,983.0 | 6,115.0 | 6,321.0 | 5,624.0 | 5,071.0 | 4,696.0 | 5,754.0 |
| Hotels | 1,293.0 | 1,541.0 | 1,612.0 | 1,698.0 | 1,768.0 | 1,704.0 | 1,584.0 | 2,212.0 |
| Timeshare | 687.0 | 674.0 | 924.0 | 1,287.0 | 703.0 | 538.0 | 523.0 | 749.0 |
| Net interest income | 5.0 | 3.0 | 3.0 | 2.0 | 3.0 | 2.0 | 3.0 | 3.0 |
| Revenue growth [+] | -3.7% | -2.2% | -3.3% | 12.4% | 10.9% | 8.0% | -18.4% | -4.1% |
| Other revenues from managed and franchised hotels | 0.9% | 3.7% | 6.8% | 4.7% | 10.5% | | | |
| Americas | -5.6% | 0.7% | -4.9% | -0.2% | 2.1% | | | |
| Vacation Ownership & Residential | | | | | 30.8% | -22.0% | -24.6% | |
| Vacation ownership and residential | 2.7% | -26.7% | -28.8% | 84.7% | | | | |
| EAME | -20.4% | -2.9% | 11.8% | -7.1% | 11.9% | | | |
| Cost of goods sold [+] | 4,204.0 | 4,375.0 | 4,481.0 | 4,776.0 | 4,207.0 | 3,881.0 | 3,632.0 | 4,289.0 |
| Direct hotel costs | 1,005.0 | 1,211.0 | 1,292.0 | 1,391.0 | 1,449.0 | 1,395.0 | 1,315.0 | 1,688.0 |
| Managed and franchised hotel costs | 2,736.0 | 2,711.0 | 2,614.0 | 2,448.0 | 2,339.0 | 2,117.0 | 1,931.0 | 2,042.0 |
| Gross profit | 1,559.0 | 1,608.0 | 1,634.0 | 1,545.0 | 1,417.0 | 1,190.0 | 1,064.0 | 1,465.0 |
| Gross margin | 27.1% | 26.9% | 26.7% | 24.4% | 25.2% | 23.5% | 22.7% | 25.5% |
| Selling, general and administrative | 388.0 | 402.0 | 384.0 | 370.0 | 352.0 | 344.0 | 314.0 | 377.0 |
| Equity in earnings | -41.0 | -27.0 | -26.0 | -25.0 | -11.0 | 10.0 | -4.0 | 16.0 |
| Other operating expenses | | | | | | -14.0 | | |
| EBITDA [+] | 1,064.0 | 1,139.0 | 1,189.0 | 1,117.0 | 1,022.0 | 834.0 | 718.0 | 1,090.0 |
| EBITDA growth | -6.6% | -4.2% | 6.4% | 9.3% | 22.5% | 16.2% | -34.1% | 267.0% |
| EBITDA margin | 18.5% | 19.0% | 19.4% | 17.7% | 18.2% | 16.4% | 15.3% | 18.9% |
| Depreciation | 251.0 | 254.0 | 239.0 | 226.0 | 235.0 | 252.0 | 282.0 | 291.0 |
| EBITA | 813.0 | 885.0 | 950.0 | 891.0 | 787.0 | 582.0 | 436.0 | 799.0 |
| EBITA margin | 14.1% | 14.8% | 15.5% | 14.1% | 14.0% | 11.5% | 9.3% | 13.9% |
| Amortization of intangibles | 29.0 | 29.0 | 28.0 | 25.0 | 30.0 | 33.0 | 35.0 | 32.0 |
| EBIT [+] | 784.0 | 856.0 | 922.0 | 866.0 | 757.0 | 549.0 | 401.0 | 767.0 |
| EBIT growth | -8.4% | -7.2% | 6.5% | 14.4% | 37.9% | 36.9% | -47.7% | |
| EBIT margin | 13.6% | 14.3% | 15.1% | 13.7% | 13.5% | 10.8% | 8.5% | 13.3% |
| Non-recurring items [+] | 85.0 | | 23.0 | -21.0 | 138.0 | -61.0 | 379.0 | 141.0 |
| Asset impairment | -15.0 | 4.0 | | -9.0 | | | | |
| Interest expense | 111.0 | 94.0 | 100.0 | 170.0 | 200.0 | 235.0 | 227.0 | 207.0 |
| Interest expense | 111.0 | 94.0 | 100.0 | 170.0 | 200.0 | 235.0 | 227.0 | 207.0 |
| Other income (expense), net [+] | 81.0 | 20.0 | 29.0 | -99.0 | 6.0 | -40.0 | -91.0 | -98.0 |
| Gain (loss) on debt retirement | | -1.0 | 4.0 | -128.0 | -16.0 | -1.0 | | |
| Pre-tax income | 669.0 | 782.0 | 828.0 | 618.0 | 425.0 | 335.0 | -296.0 | 321.0 |
| Income taxes | 180.0 | 139.0 | 263.0 | 148.0 | -75.0 | 27.0 | -293.0 | 72.0 |
| Tax rate | 26.9% | 17.8% | 31.8% | 23.9% | | 8.1% | 99.0% | 22.4% |
| Minority interest | | | | | -2.0 | -2.0 | -2.0 | |
| Earnings from continuing ops | 489.0 | 653.0 | 494.0 | 378.0 | 502.0 | 309.0 | -3.0 | |
| Earnings from discontinued ops | | -10.0 | 71.0 | 92.0 | -13.0 | 168.0 | 76.0 | 329.0 |
| Net income | 489.0 | 643.0 | 565.0 | 470.0 | 489.0 | 477.0 | 73.0 | 329.0 |
| Net margin | 8.5% | 10.7% | 9.2% | 7.4% | 8.7% | 9.4% | 1.6% | 5.7% |
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| Basic EPS [+] | $2.89 | $3.53 | $2.59 | $1.96 | $2.66 | $1.69 | ($0.02) | $0.00 |
| Growth | -18.0% | 36.5% | 32.1% | -26.3% | 57.3% | -10231.1% | | |
| Diluted EPS [+] | $2.88 | $3.51 | $2.56 | $1.92 | $2.57 | $1.63 | ($0.02) | $0.00 |
| Growth | -18.1% | 37.2% | 33.4% | -25.5% | 58.3% | -9857.9% | | |
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| Dividends per share [+] | $1.50 | $4.00 | $1.35 | $1.25 | $0.50 | $0.30 | $0.20 | $0.90 |
| Growth | -62.5% | 196.3% | 8.0% | 150.0% | 66.7% | 50.0% | -77.8% | 0.0% |
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| Shares outstanding (basic) [+] | 169.0 | 185.0 | 191.0 | 193.0 | 189.0 | 183.0 | 180.0 | 181.0 |
| Growth | -8.6% | -3.1% | -1.0% | 2.1% | 3.3% | 1.7% | -0.6% | -10.8% |
| Shares outstanding (diluted) [+] | 170.0 | 186.0 | 193.0 | 197.0 | 195.0 | 190.0 | 180.0 | 185.0 |
| Growth | -8.6% | -3.6% | -2.0% | 1.0% | 2.6% | 5.6% | -2.7% | -12.3% |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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