2017 Q4 Form 10-K Financial Statement

#000136165818000003 Filed on February 20, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $1.246B $1.361B $1.302B
YoY Change 4.44% 2.33% 4.58%
Cost Of Revenue $453.0M $487.0M $472.0M
YoY Change -29.98% -34.63% -29.87%
Gross Profit $477.0M $528.0M $506.0M
YoY Change -29.12% -36.23% -30.68%
Gross Profit Margin 38.28% 38.8% 38.86%
Selling, General & Admin $275.0M $285.0M $293.0M
YoY Change -22.1% -31.33% -26.01%
% of Gross Profit 57.65% 53.98% 57.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $36.00M $35.00M $14.00M
YoY Change -44.62% -43.55% -77.78%
% of Gross Profit 7.55% 6.63% 2.77%
Operating Expenses $311.0M $320.0M $326.0M
YoY Change -25.6% -33.05% -28.98%
Operating Profit $92.00M $184.0M $45.00M
YoY Change -63.92% -45.24% -83.39%
Interest Expense $42.00M $40.00M $39.00M
YoY Change 27.27% 21.21% 18.18%
% of Operating Profit 45.65% 21.74% 86.67%
Other Income/Expense, Net $4.000M $19.00M $3.000M
YoY Change 33.33% 533.33% -50.0%
Pretax Income $79.00M $164.0M $10.00M
YoY Change -65.04% -46.58% -95.92%
Income Tax -$383.0M $62.00M -$4.000M
% Of Pretax Income -484.81% 37.8% -40.0%
Net Earnings $416.0M $264.0M $84.00M
YoY Change 153.66% 34.69% -46.15%
Net Earnings / Revenue 33.39% 19.4% 6.45%
Basic Earnings Per Share $4.12 $2.58 $0.81
Diluted Earnings Per Share $4.09 $2.57 $0.81
COMMON SHARES
Basic Shares Outstanding 100.9M shares 102.4M shares 103.8M shares
Diluted Shares Outstanding 101.8M shares 102.9M shares 104.4M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $48.00M $289.0M $415.0M
YoY Change -57.52% -12.95% -13.18%
Cash & Equivalents $48.00M $289.0M $415.0M
Short-Term Investments
Other Short-Term Assets $328.0M $429.0M $486.0M
YoY Change 26.15% 61.89% 42.94%
Inventory $1.249B $317.0M $315.0M
Prepaid Expenses $118.0M $161.0M $187.0M
Receivables $195.0M $586.0M $598.0M
Other Receivables $2.901B $257.0M $257.0M
Total Short-Term Assets $2.995B $2.039B $2.258B
YoY Change 65.29% 10.63% 6.16%
LONG-TERM ASSETS
Property, Plant & Equipment $822.0M $1.358B $1.368B
YoY Change -20.04% 0.0% 0.51%
Goodwill $911.0M $1.698B $1.637B
YoY Change -25.39% 9.62% 6.09%
Intangibles $286.0M $747.0M $742.0M
YoY Change -58.37% 3.18% 2.63%
Long-Term Investments
YoY Change
Other Assets $328.0M $418.0M $416.0M
YoY Change -7.61% 14.21% 15.24%
Total Long-Term Assets $7.455B $8.222B $8.090B
YoY Change -6.89% 4.08% 3.52%
TOTAL ASSETS
Total Short-Term Assets $2.995B $2.039B $2.258B
Total Long-Term Assets $7.455B $8.222B $8.090B
Total Assets $10.45B $10.26B $10.35B
YoY Change 6.43% 5.32% 4.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $232.0M $432.0M $670.0M
YoY Change 8.92% 10.2% 15.52%
Accrued Expenses $847.0M $919.0M $866.0M
YoY Change 18.13% 9.14% 10.04%
Deferred Revenue $559.0M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $234.0M $226.0M
YoY Change 0.43% -7.38%
Total Short-Term Liabilities $2.629B $2.121B $2.384B
YoY Change 29.38% 9.84% 8.96%
LONG-TERM LIABILITIES
Long-Term Debt $6.006B $5.667B $5.534B
YoY Change 14.97% 8.65% 7.21%
Other Long-Term Liabilities $304.0M $371.0M $387.0M
YoY Change -13.88% -5.6% -6.07%
Total Long-Term Liabilities $304.0M $371.0M $387.0M
YoY Change -13.88% -5.6% -6.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.629B $2.121B $2.384B
Total Long-Term Liabilities $304.0M $371.0M $387.0M
Total Liabilities $9.676B $9.631B $9.756B
YoY Change 6.32% 7.66% 6.49%
SHAREHOLDERS EQUITY
Retained Earnings $2.501B $2.219B $2.077B
YoY Change 26.5% 18.92% 20.34%
Common Stock $2.000M $2.000M $2.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.719B $5.568B $5.418B
YoY Change 11.74% 12.08% 12.45%
Treasury Stock Shares 118.9M shares 117.5M shares 116.0M shares
Shareholders Equity $769.0M $624.0M $587.0M
YoY Change
Total Liabilities & Shareholders Equity $10.45B $10.26B $10.35B
YoY Change 6.43% 5.32% 4.08%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income $416.0M $264.0M $84.00M
YoY Change 153.66% 34.69% -46.15%
Depreciation, Depletion And Amortization $36.00M $35.00M $14.00M
YoY Change -44.62% -43.55% -77.78%
Cash From Operating Activities $322.0M $2.000M $424.0M
YoY Change 72.19% -97.5% -4.72%
INVESTING ACTIVITIES
Capital Expenditures -$31.00M -$25.00M -$23.00M
YoY Change -43.64% -45.65% -51.06%
Acquisitions
YoY Change
Other Investing Activities -$177.0M -$60.00M -$25.00M
YoY Change 40.48% -528.57% 733.33%
Cash From Investing Activities -$208.0M -$85.00M -$48.00M
YoY Change 14.92% 165.63% -4.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -154.0M -95.00M -186.0M
YoY Change 6.94% -50.26% -16.96%
NET CHANGE
Cash From Operating Activities 322.0M 2.000M 424.0M
Cash From Investing Activities -208.0M -85.00M -48.00M
Cash From Financing Activities -154.0M -95.00M -186.0M
Net Change In Cash -40.00M -178.0M 190.0M
YoY Change -71.01% 24.48% 11.11%
FREE CASH FLOW
Cash From Operating Activities $322.0M $2.000M $424.0M
Capital Expenditures -$31.00M -$25.00M -$23.00M
Free Cash Flow $353.0M $27.00M $447.0M
YoY Change 45.87% -78.57% -9.15%

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CY2017 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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131000000 USD
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CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
111500000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
109600000 shares
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
107700000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
110600000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
106000000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
104400000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
102900000 shares
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
101800000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
103700000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
118000000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
112700000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
111000000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
109000000 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
106800000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
109900000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
105200000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103800000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
102400000 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100900000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103000000 shares
CY2016Q4 wyn Accrued Legal Settlements Current
AccruedLegalSettlementsCurrent
39000000 USD
CY2017Q4 wyn Accrued Legal Settlements Current
AccruedLegalSettlementsCurrent
28000000 USD
CY2016Q4 wyn Accrued Separation
AccruedSeparation
0 USD
CY2017Q4 wyn Accrued Separation
AccruedSeparation
29000000 USD
CY2016Q4 wyn Accrued Voi Maintenance Fees
AccruedVOIMaintenanceFees
25000000 USD
CY2017Q4 wyn Accrued Voi Maintenance Fees
AccruedVOIMaintenanceFees
28000000 USD
CY2015 wyn Adjustmentsto Additional Paidin Capital Sharebased Compensation Requisite Service Period Recognition Boardof Directors
AdjustmentstoAdditionalPaidinCapitalSharebasedCompensationRequisiteServicePeriodRecognitionBoardofDirectors
1000000 USD
CY2016 wyn Adjustmentsto Additional Paidin Capital Sharebased Compensation Requisite Service Period Recognition Boardof Directors
AdjustmentstoAdditionalPaidinCapitalSharebasedCompensationRequisiteServicePeriodRecognitionBoardofDirectors
1000000 USD
CY2017 wyn Adjustmentsto Additional Paidin Capital Sharebased Compensation Requisite Service Period Recognition Boardof Directors
AdjustmentstoAdditionalPaidinCapitalSharebasedCompensationRequisiteServicePeriodRecognitionBoardofDirectors
2000000 USD
CY2017Q4 wyn Assembled Commitments Amount
AssembledCommitmentsAmount
1300000000 USD
CY2015 wyn Bad Debt Expense On Development Advances
BadDebtExpenseOnDevelopmentAdvances
1000000 USD
CY2016 wyn Bad Debt Expense On Development Advances
BadDebtExpenseOnDevelopmentAdvances
1000000 USD
CY2017 wyn Bad Debt Expense On Development Advances
BadDebtExpenseOnDevelopmentAdvances
1000000 USD
CY2017Q4 wyn Business Acquisitionportionsold
BusinessAcquisitionportionsold
28000000 USD
CY2015 wyn Cash Gains Losses On Extinguishment Of Debt
CashGainsLossesOnExtinguishmentOfDebt
0 USD
CY2016 wyn Cash Gains Losses On Extinguishment Of Debt
CashGainsLossesOnExtinguishmentOfDebt
-11000000 USD
CY2017 wyn Cash Gains Losses On Extinguishment Of Debt
CashGainsLossesOnExtinguishmentOfDebt
0 USD
CY2016 wyn Cash Paid To Third Party Developer
CashPaidToThirdPartyDeveloper
-50000000 USD
CY2017 wyn Cash Paid To Third Party Developer
CashPaidToThirdPartyDeveloper
148000000 USD
CY2016Q4 wyn Company Vacation Exchange And Rentals Current
CompanyVacationExchangeAndRentalsCurrent
54000000 USD
CY2017Q4 wyn Company Vacation Exchange And Rentals Current
CompanyVacationExchangeAndRentalsCurrent
57000000 USD
CY2016Q4 wyn Completed Inventory And Vacation Credits
CompletedInventoryAndVacationCredits
667000000 USD
CY2017Q4 wyn Completed Inventory And Vacation Credits
CompletedInventoryAndVacationCredits
841000000 USD
CY2015Q4 wyn Contract Receivable Weighted Average Interest Rate
ContractReceivableWeightedAverageInterestRate
0.138
CY2016Q4 wyn Contract Receivable Weighted Average Interest Rate
ContractReceivableWeightedAverageInterestRate
0.139
CY2017Q4 wyn Contract Receivable Weighted Average Interest Rate
ContractReceivableWeightedAverageInterestRate
0.139
CY2015 wyn Debt Capital Lease Obligation Interest Rate
DebtCapitalLeaseObligationInterestRate
0.045
CY2016 wyn Debt Capital Lease Obligation Interest Rate
DebtCapitalLeaseObligationInterestRate
0.045
CY2017 wyn Debt Capital Lease Obligation Interest Rate
DebtCapitalLeaseObligationInterestRate
0.045
CY2016Q4 wyn Deferred Tax Assets Other Comprehensive Income
DeferredTaxAssetsOtherComprehensiveIncome
117000000 USD
CY2017Q4 wyn Deferred Tax Assets Other Comprehensive Income
DeferredTaxAssetsOtherComprehensiveIncome
58000000 USD
CY2016Q4 wyn Deferred Tax Assets Tax Credit Carryforwards Foreign Noncurrent
DeferredTaxAssetsTaxCreditCarryforwardsForeignNoncurrent
84000000 USD
CY2017Q4 wyn Deferred Tax Assets Tax Credit Carryforwards Foreign Noncurrent
DeferredTaxAssetsTaxCreditCarryforwardsForeignNoncurrent
73000000 USD
CY2016Q4 wyn Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Losses Noncurrent
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLossesNoncurrent
303000000 USD
CY2017Q4 wyn Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Losses Noncurrent
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLossesNoncurrent
215000000 USD
CY2016Q4 wyn Deferred Tax Liabilities Depreciation And Amortization
DeferredTaxLiabilitiesDepreciationAndAmortization
685000000 USD
CY2017Q4 wyn Deferred Tax Liabilities Depreciation And Amortization
DeferredTaxLiabilitiesDepreciationAndAmortization
423000000 USD
CY2016Q4 wyn Deferred Tax Liabilities Future Recovered Inventory
DeferredTaxLiabilitiesFutureRecoveredInventory
97000000 USD
CY2017Q4 wyn Deferred Tax Liabilities Future Recovered Inventory
DeferredTaxLiabilitiesFutureRecoveredInventory
69000000 USD
CY2016Q4 wyn Deferredtaxassetsaccruedliabilitiesanddeferredincomenoncurrent
Deferredtaxassetsaccruedliabilitiesanddeferredincomenoncurrent
175000000 USD
CY2017Q4 wyn Deferredtaxassetsaccruedliabilitiesanddeferredincomenoncurrent
Deferredtaxassetsaccruedliabilitiesanddeferredincomenoncurrent
126000000 USD
CY2016Q4 wyn Deferredtaxassetsliabilitiesgrossnoncurrent
Deferredtaxassetsliabilitiesgrossnoncurrent
1872000000 USD
CY2017Q4 wyn Deferredtaxassetsliabilitiesgrossnoncurrent
Deferredtaxassetsliabilitiesgrossnoncurrent
1275000000 USD
CY2016Q4 wyn Deferredtaxliabilitiesinstallmentsalesofvacationownershipinterestsnoncurrent
Deferredtaxliabilitiesinstallmentsalesofvacationownershipinterestsnoncurrent
1038000000 USD
CY2017Q4 wyn Deferredtaxliabilitiesinstallmentsalesofvacationownershipinterestsnoncurrent
Deferredtaxliabilitiesinstallmentsalesofvacationownershipinterestsnoncurrent
737000000 USD
CY2016Q4 wyn Deferredtaxliabilitiesothernoncurrent
Deferredtaxliabilitiesothernoncurrent
32000000 USD
CY2017Q4 wyn Deferredtaxliabilitiesothernoncurrent
Deferredtaxliabilitiesothernoncurrent
8000000 USD
CY2015 wyn Development Advances
DevelopmentAdvances
9000000 USD
CY2016 wyn Development Advances
DevelopmentAdvances
9000000 USD
CY2017 wyn Development Advances
DevelopmentAdvances
9000000 USD
CY2015 wyn Development Advances Forgone Amount
DevelopmentAdvancesForgoneAmount
8000000 USD
CY2016 wyn Development Advances Forgone Amount
DevelopmentAdvancesForgoneAmount
7000000 USD
CY2017 wyn Development Advances Forgone Amount
DevelopmentAdvancesForgoneAmount
6000000 USD
CY2016Q4 wyn Development Advances To Franchisees
DevelopmentAdvancesToFranchisees
73000000 USD
CY2017Q4 wyn Development Advances To Franchisees
DevelopmentAdvancesToFranchisees
64000000 USD
CY2017 wyn Development Advances Write Off
DevelopmentAdvancesWriteOff
8000000 USD
CY2015 wyn Disposal Group Including Discontinued Operation Marketing And Reservation Expense
DisposalGroupIncludingDiscontinuedOperationMarketingAndReservationExpense
90000000 USD
CY2016 wyn Disposal Group Including Discontinued Operation Marketing And Reservation Expense
DisposalGroupIncludingDiscontinuedOperationMarketingAndReservationExpense
89000000 USD
CY2017 wyn Disposal Group Including Discontinued Operation Marketing And Reservation Expense
DisposalGroupIncludingDiscontinuedOperationMarketingAndReservationExpense
103000000 USD
CY2015 wyn Disposal Group Including Discontinued Operation Share Based Compensation Expense
DisposalGroupIncludingDiscontinuedOperationShareBasedCompensationExpense
1000000 USD
CY2016 wyn Disposal Group Including Discontinued Operation Share Based Compensation Expense
DisposalGroupIncludingDiscontinuedOperationShareBasedCompensationExpense
1000000 USD
CY2017 wyn Disposal Group Including Discontinued Operation Share Based Compensation Expense
DisposalGroupIncludingDiscontinuedOperationShareBasedCompensationExpense
1000000 USD
CY2015 wyn Effective Income Tax Rate Reconciliation Taxes On Foreign Income Net Of Tax Credits
EffectiveIncomeTaxRateReconciliationTaxesOnForeignIncomeNetOfTaxCredits
-0.006
CY2016 wyn Effective Income Tax Rate Reconciliation Taxes On Foreign Income Net Of Tax Credits
EffectiveIncomeTaxRateReconciliationTaxesOnForeignIncomeNetOfTaxCredits
-0.018
CY2017 wyn Effective Income Tax Rate Reconciliation Taxes On Foreign Income Net Of Tax Credits
EffectiveIncomeTaxRateReconciliationTaxesOnForeignIncomeNetOfTaxCredits
-0.011
CY2015 wyn Effective Income Tax Rate Reconciliation Valuation Allowance
EffectiveIncomeTaxRateReconciliationValuationAllowance
-0.03
CY2016 wyn Effective Income Tax Rate Reconciliation Valuation Allowance
EffectiveIncomeTaxRateReconciliationValuationAllowance
0.007
CY2017 wyn Effective Income Tax Rate Reconciliation Valuation Allowance
EffectiveIncomeTaxRateReconciliationValuationAllowance
-0.013
CY2016Q4 wyn Estimated Recoveries Inventory
EstimatedRecoveriesInventory
256000000 USD
CY2017Q4 wyn Estimated Recoveries Inventory
EstimatedRecoveriesInventory
279000000 USD
CY2016Q4 wyn Franchise Agreements And Other Intangibles Net
FranchiseAgreementsAndOtherIntangiblesNet
331000000 USD
CY2017Q4 wyn Franchise Agreements And Other Intangibles Net
FranchiseAgreementsAndOtherIntangiblesNet
348000000 USD
CY2017Q4 wyn General Purpose Surety Bonds Outstanding
GeneralPurposeSuretyBondsOutstanding
471000000 USD
CY2017 wyn Guarantee Amount Over Contingent Liability Assumed
GuaranteeAmountOverContingentLiabilityAssumed
2000000 USD
CY2017 wyn Impairment Of Management Agreements
ImpairmentOfManagementAgreements
25000000 USD
CY2017 wyn Impairmentof Management Agreement Assets
ImpairmentofManagementAgreementAssets
16000000 USD
CY2016Q4 wyn Inventory Sold Subject To Conditional Repurchase
InventorySoldSubjectToConditionalRepurchase
163000000 USD
CY2017Q4 wyn Inventory Sold Subject To Conditional Repurchase
InventorySoldSubjectToConditionalRepurchase
43000000 USD
CY2015Q4 wyn Inventory Sold Under Agreementto Repurchase Repurchase Liability
InventorySoldUnderAgreementtoRepurchaseRepurchaseLiability
190000000 USD
CY2016Q4 wyn Inventory Sold Under Agreementto Repurchase Repurchase Liability
InventorySoldUnderAgreementtoRepurchaseRepurchaseLiability
198000000 USD
CY2017Q4 wyn Inventory Sold Under Agreementto Repurchase Repurchase Liability
InventorySoldUnderAgreementtoRepurchaseRepurchaseLiability
144000000 USD
CY2016Q4 wyn Inventory Sold Under Agreementto Repurchase Repurchase Liability Current
InventorySoldUnderAgreementtoRepurchaseRepurchaseLiabilityCurrent
85000000 USD
CY2017Q4 wyn Inventory Sold Under Agreementto Repurchase Repurchase Liability Current
InventorySoldUnderAgreementtoRepurchaseRepurchaseLiabilityCurrent
64000000 USD
CY2016Q4 wyn Inventory Sold Under Agreementto Repurchase Repurchase Liability Noncurrent
InventorySoldUnderAgreementtoRepurchaseRepurchaseLiabilityNoncurrent
113000000 USD
CY2017Q4 wyn Inventory Sold Under Agreementto Repurchase Repurchase Liability Noncurrent
InventorySoldUnderAgreementtoRepurchaseRepurchaseLiabilityNoncurrent
80000000 USD
CY2017 wyn Liability Accrual Adjustment
LiabilityAccrualAdjustment
6000000 USD
CY2016Q4 wyn Loyalty Liability
LoyaltyLiability
77000000 USD
CY2017Q4 wyn Loyalty Liability
LoyaltyLiability
90000000 USD
CY2015 wyn Marketing And Reservation Fees
MarketingAndReservationFees
313000000 USD
CY2016 wyn Marketing And Reservation Fees
MarketingAndReservationFees
310000000 USD
CY2017 wyn Marketing And Reservation Fees
MarketingAndReservationFees
304000000 USD
CY2017 wyn Other Contingent And Corporate Liabilities Assumed
OtherContingentAndCorporateLiabilitiesAssumed
1000000 USD
CY2017 wyn Maximum Potential Future Tax Liability Exposure
MaximumPotentialFutureTaxLiabilityExposure
1
CY2017 wyn Non Cash Transferto Debt
NonCashTransfertoDebt
-67000000 USD
CY2017Q2 wyn Number Of Properties Assessed For Future Development
NumberOfPropertiesAssessedForFutureDevelopment
19 location
CY2017Q2 wyn Number Of Properties Deemed Impaired
NumberOfPropertiesDeemedImpaired
16 location
CY2017Q2 wyn Number Of Properties Deemed No Future Development
NumberOfPropertiesDeemedNoFutureDevelopment
17 location
CY2017 wyn Number Surety Providers Assembled Commitments
NumberSuretyProvidersAssembledCommitments
12 Surety_Providers
CY2015 wyn Originations Of Finance Receivables
OriginationsOfFinanceReceivables
1091000000 USD
CY2016 wyn Originations Of Finance Receivables
OriginationsOfFinanceReceivables
1225000000 USD
CY2017 wyn Originations Of Finance Receivables
OriginationsOfFinanceReceivables
1392000000 USD
CY2016Q4 wyn Other Deferred Tax Assets Valuation Allowance
OtherDeferredTaxAssetsValuationAllowance
2000000 USD
CY2017Q4 wyn Other Deferred Tax Assets Valuation Allowance
OtherDeferredTaxAssetsValuationAllowance
4000000 USD
CY2017 wyn Percentage Liability For Certain Contingent Tax Liabilities
PercentageLiabilityForCertainContingentTaxLiabilities
0.375
CY2015 wyn Proceedsfrom Saleof Assets Financing Activities
ProceedsfromSaleofAssetsFinancingActivities
70000000 USD
CY2016 wyn Proceedsfrom Saleof Assets Financing Activities
ProceedsfromSaleofAssetsFinancingActivities
20000000 USD
CY2017 wyn Proceedsfrom Saleof Assets Financing Activities
ProceedsfromSaleofAssetsFinancingActivities
0 USD
CY2016 wyn Propertyand Equipmenttransferredto Inventory
PropertyandEquipmenttransferredtoInventory
50000000 USD
CY2017 wyn Propertyand Equipmenttransferredto Inventory
PropertyandEquipmenttransferredtoInventory
41000000 USD
CY2016 wyn Purchasesfrom Third Party Developer
PurchasesfromThirdPartyDeveloper
58000000 USD
CY2017 wyn Purchasesfrom Third Party Developer
PurchasesfromThirdPartyDeveloper
161000000 USD
CY2015 wyn Repaymentsfor Development Advances
RepaymentsforDevelopmentAdvances
6000000 USD
CY2016 wyn Repaymentsfor Development Advances
RepaymentsforDevelopmentAdvances
3000000 USD
CY2017 wyn Repaymentsfor Development Advances
RepaymentsforDevelopmentAdvances
7000000 USD
CY2015 wyn Repaymentsof Saleof Assets Financing Activities
RepaymentsofSaleofAssetsFinancingActivities
7000000 USD
CY2016 wyn Repaymentsof Saleof Assets Financing Activities
RepaymentsofSaleofAssetsFinancingActivities
26000000 USD
CY2017 wyn Repaymentsof Saleof Assets Financing Activities
RepaymentsofSaleofAssetsFinancingActivities
41000000 USD
CY2015 wyn Repaymentsofdevelopmentadvancenotes
Repaymentsofdevelopmentadvancenotes
6000000 USD
CY2016 wyn Repaymentsofdevelopmentadvancenotes
Repaymentsofdevelopmentadvancenotes
3000000 USD
CY2017 wyn Repaymentsofdevelopmentadvancenotes
Repaymentsofdevelopmentadvancenotes
7000000 USD
CY2017 wyn Responsible Liability For Separation Agreement
ResponsibleLiabilityForSeparationAgreement
0.375
CY2016 wyn Restructuringand Related Cost Numberof Facilities Closed
RestructuringandRelatedCostNumberofFacilitiesClosed
4
CY2015 wyn Segment Reporting Information Earnings Before Interest Taxes Depreciation And Amortization
SegmentReportingInformationEarningsBeforeInterestTaxesDepreciationAndAmortization
1138000000 USD
CY2016Q1 wyn Segment Reporting Information Earnings Before Interest Taxes Depreciation And Amortization
SegmentReportingInformationEarningsBeforeInterestTaxesDepreciationAndAmortization
240000000 USD
CY2016Q2 wyn Segment Reporting Information Earnings Before Interest Taxes Depreciation And Amortization
SegmentReportingInformationEarningsBeforeInterestTaxesDepreciationAndAmortization
315000000 USD
CY2016Q3 wyn Segment Reporting Information Earnings Before Interest Taxes Depreciation And Amortization
SegmentReportingInformationEarningsBeforeInterestTaxesDepreciationAndAmortization
333000000 USD
CY2016Q4 wyn Segment Reporting Information Earnings Before Interest Taxes Depreciation And Amortization
SegmentReportingInformationEarningsBeforeInterestTaxesDepreciationAndAmortization
308000000 USD
CY2016 wyn Segment Reporting Information Earnings Before Interest Taxes Depreciation And Amortization
SegmentReportingInformationEarningsBeforeInterestTaxesDepreciationAndAmortization
1197000000 USD
CY2017Q1 wyn Segment Reporting Information Earnings Before Interest Taxes Depreciation And Amortization
SegmentReportingInformationEarningsBeforeInterestTaxesDepreciationAndAmortization
240000000 USD
CY2017Q2 wyn Segment Reporting Information Earnings Before Interest Taxes Depreciation And Amortization
SegmentReportingInformationEarningsBeforeInterestTaxesDepreciationAndAmortization
186000000 USD
CY2017Q3 wyn Segment Reporting Information Earnings Before Interest Taxes Depreciation And Amortization
SegmentReportingInformationEarningsBeforeInterestTaxesDepreciationAndAmortization
353000000 USD
CY2017Q4 wyn Segment Reporting Information Earnings Before Interest Taxes Depreciation And Amortization
SegmentReportingInformationEarningsBeforeInterestTaxesDepreciationAndAmortization
174000000 USD
CY2017 wyn Segment Reporting Information Earnings Before Interest Taxes Depreciation And Amortization
SegmentReportingInformationEarningsBeforeInterestTaxesDepreciationAndAmortization
952000000 USD
CY2015 wyn Separationandrelatedcosts
Separationandrelatedcosts
0 USD
CY2016 wyn Separationandrelatedcosts
Separationandrelatedcosts
0 USD
CY2017 wyn Separationandrelatedcosts
Separationandrelatedcosts
51000000 USD
CY2017Q4 wyn Stock Repurchase Program Increase In Authorized Amount
StockRepurchaseProgramIncreaseInAuthorizedAmount
1000000000 USD
CY2017 wyn Tax Cuts And Jobs Act Of2017 Incomplete Accounting Change In Tax Rate Deferred Tax Asset Provisional Income Tax Expense
TaxCutsAndJobsActOf2017IncompleteAccountingChangeInTaxRateDeferredTaxAssetProvisionalIncomeTaxExpense
-471000000 USD
CY2017Q4 wyn Tax Cuts And Jobs Act Of2017 Incomplete Accounting Provisional Income Tax Expense Benefit
TaxCutsAndJobsActOf2017IncompleteAccountingProvisionalIncomeTaxExpenseBenefit
-415000000 USD
CY2017 wyn Tax Cuts And Jobs Act Of2017 Incomplete Accounting Provisional Income Tax Expense Benefit
TaxCutsAndJobsActOf2017IncompleteAccountingProvisionalIncomeTaxExpenseBenefit
14000000 USD
CY2017 wyn Tax Cuts And Jobs Act Of2017 Incomplete Accounting Transition Tax For Accumulated Foreign Earnings Provisional Income Tax Expense
TaxCutsAndJobsActOf2017IncompleteAccountingTransitionTaxForAccumulatedForeignEarningsProvisionalIncomeTaxExpense
42000000 USD
CY2017 wyn Tax Liabilities Assumed
TaxLiabilitiesAssumed
13000000 USD
CY2015 wyn Trade Receivables Bad Debt Expense
TradeReceivablesBadDebtExpense
49000000 USD
CY2016 wyn Trade Receivables Bad Debt Expense
TradeReceivablesBadDebtExpense
45000000 USD
CY2017 wyn Trade Receivables Translation And Other Adjustments
TradeReceivablesTranslationAndOtherAdjustments
1000000 USD
CY2015 wyn Trade Receivables Write Offs
TradeReceivablesWriteOffs
69000000 USD
CY2016 wyn Trade Receivables Write Offs
TradeReceivablesWriteOffs
68000000 USD
CY2017 wyn Trade Receivables Bad Debt Expense
TradeReceivablesBadDebtExpense
58000000 USD
CY2015 wyn Trade Receivables Translation And Other Adjustments
TradeReceivablesTranslationAndOtherAdjustments
1000000 USD
CY2016 wyn Trade Receivables Translation And Other Adjustments
TradeReceivablesTranslationAndOtherAdjustments
16000000 USD
CY2017 wyn Trade Receivables Write Offs
TradeReceivablesWriteOffs
65000000 USD
CY2016Q4 wyn Vacation Ownership Contract Receivables Fair Value
VacationOwnershipContractReceivablesFairValue
3344000000 USD
CY2017Q4 wyn Vacation Ownership Contract Receivables Fair Value
VacationOwnershipContractReceivablesFairValue
3489000000 USD
CY2017 wyn Voi Contract Receivable Written Off As Credit Loss
VoiContractReceivableWrittenOffAsCreditLoss
P120D
CY2017 wyn Voi Contract Receivables
VoiContractReceivables
P90D
CY2017 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">GUARANTEES</font></div><div style="line-height:120%;padding-top:8px;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company may enter into performance guarantees related to certain hotels that it manages. The Company records a liability for the fair value of these performance guarantees at their inception date. The corresponding offset is recorded to other assets which is amortized over the life of the management agreement.&#160;For performance guarantees not subject to a recapture provision, the Company amortizes the liability for the fair value of the guarantee over the term of the guarantee using a systematic and rational approach. On a quarterly basis, the Company evaluates the likelihood of funding under a guarantee. To the extent the Company determines an obligation to fund under a guarantee is both probable and estimable, the Company will record a separate contingent liability. The expense related to this separate contingent liability is recognized in the period that the Company determines funding is probable for that period. </font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For performance guarantees subject to a recapture provision, to the extent the Company is required to fund an obligation under a guarantee subject to a recapture provision, the Company records a receivable for amounts expected to be recovered in the future. On a quarterly basis, the Company evaluates the likelihood of recovering such receivables. </font></div><div style="line-height:100%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>
CY2017 us-gaap Revenue Recognition Loyalty Programs
RevenueRecognitionLoyaltyPrograms
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">LOYALTY PROGRAMS</font></div><div style="line-height:120%;padding-top:8px;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company operates a number of loyalty programs including Wyndham Rewards, RCI Elite Rewards and other programs. Wyndham Rewards members primarily accumulate points by staying in hotels franchised under one of the Company&#8217;s hotel group brands. Wyndham Rewards and RCI Elite Rewards members accumulate points by purchasing everyday services and products utilizing their co-branded credit cards.</font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Members may redeem their points for hotel stays, airline tickets, rental cars, resort vacations, electronics, sporting goods, movie and theme park tickets, gift certificates, vacation ownership maintenance fees and annual membership dues and exchange fees for transactions. The points cannot be redeemed for cash. The Company earns revenue from these programs (i)&#160;when a member stays at a participating hotel, from a fee charged by the Company to the franchisee, which is based upon a percentage of room revenues generated from such stay or (ii)&#160;based upon a percentage of the members&#8217; spending on the co-branded credit cards and such revenues are paid to the Company by a third-party issuing bank. The Company also incurs costs to support these programs, which primarily relate to marketing expenses to promote the programs, costs to administer the programs and costs of members&#8217; redemptions.</font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As members earn points through the Company&#8217;s loyalty programs, the Company records a liability for the estimated future redemption costs, which is calculated based on (i)&#160;an estimated cost per point and (ii)&#160;an estimated redemption rate of the overall points earned, which is determined through historical experience, current trends and the use of an actuarial analysis. Revenues relating to the Company&#8217;s loyalty programs, which are recorded in other revenues in the Consolidated Statements of Income, amounted to </font><font style="font-family:inherit;font-size:10pt;">$172 million</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$159 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$152 million</font><font style="font-family:inherit;font-size:10pt;">, and total expenses amounted to </font><font style="font-family:inherit;font-size:10pt;">$131 million</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$134 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$119 million</font><font style="font-family:inherit;font-size:10pt;"> during </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. The liability for estimated future redemption costs as of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;"> amounted to </font><font style="font-family:inherit;font-size:10pt;">$90 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$77 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, and is included within accrued expenses and other current liabilities and other non-current liabilities in the Consolidated Balance Sheets.</font></div></div>
CY2017 us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes stock repurchase activity under the current stock repurchase program (in millions, except per share data):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="11" rowspan="1"></td></tr><tr><td style="width:53%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Shares</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Cost</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Average Price Per Share</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of December 31, 2016</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">88.1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,337</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">49.22</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For the year ended December 31, 2017</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6.3</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">601</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">95.79</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of December 31, 2017</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">94.4</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,938</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">52.32</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div>

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