2010 Q4 Form 10-K Financial Statement
#000119312511039869 Filed on February 18, 2011
Income Statement
| Concept | 2010 Q4 | 2010 Q1 | 2009 |
|---|---|---|---|
| Revenue | $3.642B | $3.217B | $8.834B |
| YoY Change | -14.98% | -31.41% | |
| Cost Of Revenue | $3.169B | $2.943B | $9.673B |
| YoY Change | -13.06% | -14.06% | |
| Gross Profit | $473.0M | $274.0M | $1.235B |
| YoY Change | -31.33% | -23.91% | |
| Gross Profit Margin | 12.99% | 8.52% | 13.98% |
| Selling, General & Admin | $351.0M | $207.0M | $722.0M |
| YoY Change | -23.33% | -10.09% | |
| % of Gross Profit | 74.21% | 75.55% | 58.46% |
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | $57.00M | $61.00M | $185.0M |
| YoY Change | 1.67% | -2.63% | |
| % of Gross Profit | 12.05% | 22.26% | 14.98% |
| Operating Expenses | $351.0M | $207.0M | $722.0M |
| YoY Change | -23.33% | -10.09% | |
| Operating Profit | $122.0M | $67.00M | $513.0M |
| YoY Change | -48.06% | -37.44% | |
| Interest Expense | -$12.00M | -$27.00M | $163.0M |
| YoY Change | -46.0% | -244.25% | |
| % of Operating Profit | -9.84% | -40.3% | 31.77% |
| Other Income/Expense, Net | -$2.000M | ||
| YoY Change | -33.33% | ||
| Pretax Income | $110.0M | $12.00M | -$418.0M |
| YoY Change | -42.86% | -160.23% | |
| Income Tax | -$63.00M | $68.00M | $350.0M |
| % Of Pretax Income | -57.27% | 566.67% | |
| Net Earnings | $173.0M | -$56.00M | -$346.0M |
| YoY Change | 460.0% | -195.58% | |
| Net Earnings / Revenue | 4.75% | -1.74% | -3.92% |
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | $452.9K | -$150.5K | -$971.9K |
| COMMON SHARES | |||
| Basic Shares Outstanding | |||
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2010 Q4 | 2010 Q1 | 2009 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $505.0M | $115.0M | $115.0M |
| YoY Change | -14.18% | -14.18% | |
| Cash & Equivalents | $505.0M | $115.0M | $115.0M |
| Short-Term Investments | |||
| Other Short-Term Assets | $123.0M | $454.0M | $454.0M |
| YoY Change | 15.52% | 15.52% | |
| Inventory | $1.489B | $1.444B | $1.444B |
| Prepaid Expenses | $81.00M | ||
| Receivables | $938.0M | $838.0M | $838.0M |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $3.382B | $2.851B | $2.851B |
| YoY Change | -16.29% | -16.29% | |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $1.307B | $1.362B | $1.362B |
| YoY Change | -5.61% | -5.61% | |
| Goodwill | $875.0M | $875.0M | |
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | $190.0M | $249.0M | $249.0M |
| YoY Change | -28.03% | -28.03% | |
| Other Assets | $205.0M | $1.413B | $1.413B |
| YoY Change | 24.49% | 9.28% | |
| Total Long-Term Assets | $5.601B | $5.082B | $5.082B |
| YoY Change | -7.55% | -7.55% | |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $3.382B | $2.851B | $2.851B |
| Total Long-Term Assets | $5.601B | $5.082B | $5.082B |
| Total Assets | $8.983B | $7.933B | $7.933B |
| YoY Change | -10.9% | -10.9% | |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $634.0M | $562.0M | $562.0M |
| YoY Change | -20.17% | -20.17% | |
| Accrued Expenses | $1.243B | $1.207B | $1.207B |
| YoY Change | 90.68% | -4.43% | |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $138.0M | $64.00M | $64.00M |
| YoY Change | -46.67% | -46.67% | |
| Total Short-Term Liabilities | $2.501B | $2.287B | $2.287B |
| YoY Change | -9.71% | -9.71% | |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $2.691B | $2.234B | $2.234B |
| YoY Change | -24.91% | -24.91% | |
| Other Long-Term Liabilities | $893.0M | $1.077B | $2.270B |
| YoY Change | 17.83% | 13.27% | |
| Total Long-Term Liabilities | $3.584B | $1.077B | $4.504B |
| YoY Change | 17.83% | -9.54% | |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $2.501B | $2.287B | $2.287B |
| Total Long-Term Liabilities | $3.584B | $1.077B | $4.504B |
| Total Liabilities | $6.085B | $6.791B | $6.791B |
| YoY Change | -9.73% | -9.73% | |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | $3.286B | ||
| YoY Change | |||
| Common Stock | $3.649B | ||
| YoY Change | |||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | $5.348B | $5.497B | |
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $1.585B | $996.0M | $1.142B |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $8.983B | $7.933B | $7.933B |
| YoY Change | -10.9% | -10.9% |
Cashflow Statement
| Concept | 2010 Q4 | 2010 Q1 | 2009 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | $173.0M | -$56.00M | -$346.0M |
| YoY Change | 460.0% | -195.58% | |
| Depreciation, Depletion And Amortization | $57.00M | $61.00M | $185.0M |
| YoY Change | 1.67% | -2.63% | |
| Cash From Operating Activities | $238.0M | $271.0M | $868.0M |
| YoY Change | 215.12% | 35.41% | |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$160.0M | -$35.00M | -$147.0M |
| YoY Change | -74.45% | -58.82% | |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $57.00M | $96.00M | $78.00M |
| YoY Change | 357.14% | -161.9% | |
| Cash From Investing Activities | -$103.0M | $61.00M | -$69.00M |
| YoY Change | -152.59% | -85.71% | |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 147.0M | -347.0M | -818.0M |
| YoY Change | -838.3% | 129.78% | |
| NET CHANGE | |||
| Cash From Operating Activities | 238.0M | 271.0M | 868.0M |
| Cash From Investing Activities | -103.0M | 61.00M | -69.00M |
| Cash From Financing Activities | 147.0M | -347.0M | -818.0M |
| Net Change In Cash | 282.0M | -15.00M | -19.00M |
| YoY Change | -188.24% | -90.4% | |
| FREE CASH FLOW | |||
| Cash From Operating Activities | $238.0M | $271.0M | $868.0M |
| Capital Expenditures | -$160.0M | -$35.00M | -$147.0M |
| Free Cash Flow | $398.0M | $306.0M | $1.015B |
| YoY Change | 37.22% | 1.7% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2009 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
38000000 | |
| CY2009 | us-gaap |
Reimbursement Revenue
ReimbursementRevenue
|
8834000000 | |
| CY2009 | mar |
Timeshare Strategy Impairment Charges Non Operating
TimeshareStrategyImpairmentChargesNonOperating
|
0 | |
| CY2009 | mar |
Unallocated Interest Income Expense Net
UnallocatedInterestIncomeExpenseNet
|
-124000000 | |
| CY2009 | mar |
Unallocated Income Tax Expense Benefit
UnallocatedIncomeTaxExpenseBenefit
|
359000000 | |
| CY2009 | mar |
Effective Income Tax Rate Reconciliation Audit Activity
EffectiveIncomeTaxRateReconciliationAuditActivity
|
0.112 | pure |
| CY2009 | mar |
Cumulative Effect Of Initial Adoption Of Asc360 20 40
CumulativeEffectOfInitialAdoptionOfASC360-20-40
|
-3000000 | |
| us-gaap |
Restructuring Charges
RestructuringCharges
|
106000000 | ||
| CY2009 | us-gaap |
Management Fees Base Revenue
ManagementFeesBaseRevenue
|
635000000 | |
| CY2009 | us-gaap |
Management Fees Incentive Revenue
ManagementFeesIncentiveRevenue
|
311000000 | |
| CY2010 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
25000000 | |
| CY2010 | us-gaap |
Management Fees Base Revenue
ManagementFeesBaseRevenue
|
530000000 | |
| CY2010 | us-gaap |
Management Fees Incentive Revenue
ManagementFeesIncentiveRevenue
|
154000000 | |
| CY2010 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
31000000 | |
| CY2010 | us-gaap |
Reimbursement Revenue
ReimbursementRevenue
|
7682000000 | |
| CY2010 | mar |
Timeshare Strategy Impairment Charges Non Operating
TimeshareStrategyImpairmentChargesNonOperating
|
138000000 | |
| CY2010 | mar |
Unallocated Interest Income Expense Net
UnallocatedInterestIncomeExpenseNet
|
-93000000 | |
| CY2010 | mar |
Unallocated Income Tax Expense Benefit
UnallocatedIncomeTaxExpenseBenefit
|
-61000000 | |
| CY2010 | mar |
Effective Income Tax Rate Reconciliation Audit Activity
EffectiveIncomeTaxRateReconciliationAuditActivity
|
0.137 | pure |
| CY2010 | us-gaap |
Cost Of Reimbursable Expense
CostOfReimbursableExpense
|
8239000000 | |
| CY2010 | us-gaap |
Franchise Revenue
FranchiseRevenue
|
441000000 | |
| CY2010 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
780000000 | |
| CY2010Q1 | us-gaap |
Accounts Notes And Loans Receivable Net Current
AccountsNotesAndLoansReceivableNetCurrent
|
838000000 | |
| CY2010Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
562000000 | |
| CY2010Q1 | us-gaap |
Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
|
1020000000 | |
| CY2010Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
731000000 | |
| CY2010Q1 | us-gaap |
Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
|
249000000 | |
| CY2010Q1 | us-gaap |
Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
|
452000000 | |
| CY2010Q1 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
688000000 | |
| CY2010Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
1077000000 | |
| CY2010Q1 | us-gaap |
Receivable With Imputed Interest Discount
ReceivableWithImputedInterestDiscount
|
16000000 | |
| CY2010Q1 | mar |
Deferred Tax Assets Asc740 Deferred Taxes
DeferredTaxAssetsASC740DeferredTaxes
|
99000000 | |
| CY2010Q4 | us-gaap |
Accounts Notes And Loans Receivable Net Current
AccountsNotesAndLoansReceivableNetCurrent
|
938000000 | |
| CY2010Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
634000000 | |
| CY2010Q4 | us-gaap |
Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
|
932000000 | |
| CY2010Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
768000000 | |
| CY2010Q4 | us-gaap |
Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
|
250000000 | |
| CY2010Q4 | us-gaap |
Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
|
1264000000 | |
| CY2010Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
551000000 | |
| CY2010Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
893000000 | |
| CY2010Q4 | us-gaap |
Receivable With Imputed Interest Discount
ReceivableWithImputedInterestDiscount
|
13000000 | |
| CY2010Q4 | mar |
Deferred Tax Assets Asc740 Deferred Taxes
DeferredTaxAssetsASC740DeferredTaxes
|
5000000 | |
| CY2010 | us-gaap |
Cost Of Reimbursable Expense
CostOfReimbursableExpense
|
7682000000 | |
| CY2010 | us-gaap |
Franchise Revenue
FranchiseRevenue
|
400000000 | |
| CY2010 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
722000000 | |
| CY2010 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.97 | |
| CY2010 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
-0.97 | |
| CY2010 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
-66000000 | |
| CY2010 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-65000000 | |
| CY2010 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
1.26 | |
| CY2010 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
1.21 | |
| CY2010 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
-18000000 | |
| CY2010 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
93000000 | |
| CY2010 | us-gaap |
Interest Expense
InterestExpense
|
180000000 | |
| CY2010 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
19000000 | |
| CY2010 | us-gaap |
Management Fees Base Revenue
ManagementFeesBaseRevenue
|
562000000 | |
| CY2010 | us-gaap |
Management Fees Incentive Revenue
ManagementFeesIncentiveRevenue
|
182000000 | |
| CY2010 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
35000000 | |
| CY2010 | us-gaap |
Reimbursement Revenue
ReimbursementRevenue
|
8239000000 | |
| CY2010 | mar |
Timeshare Strategy Impairment Charges Non Operating
TimeshareStrategyImpairmentChargesNonOperating
|
0 | |
| CY2010 | mar |
Unallocated Interest Income Expense Net
UnallocatedInterestIncomeExpenseNet
|
-106000000 | |
| CY2010 | mar |
Unallocated Income Tax Expense Benefit
UnallocatedIncomeTaxExpenseBenefit
|
93000000 | |
| CY2010 | mar |
Effective Income Tax Rate Reconciliation Audit Activity
EffectiveIncomeTaxRateReconciliationAuditActivity
|
-0.156 | pure |
| CY2010 | mar |
Cumulative Effect Of Initial Adoption Of Asu2009 16 And Asu2009 17
CumulativeEffectOfInitialAdoptionOfASU2009-16AndASU2009-17
|
-146000000 | |
| CY2009 | us-gaap |
Cost Of Reimbursable Expense
CostOfReimbursableExpense
|
8834000000 | |
| CY2009 | us-gaap |
Franchise Revenue
FranchiseRevenue
|
451000000 | |
| CY2009 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
803000000 | |
| CY2009 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
1.01 | |
| CY2009 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
0.97 | |
| CY2009 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
15000000 | |
| CY2009 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
350000000 | |
| CY2009 | us-gaap |
Interest Expense
InterestExpense
|
163000000 | |
| CY2010 | us-gaap |
Interest Expense
InterestExpense
|
118000000 | |
| CY2009 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
39000000 |
