$VAC
MARRIOTT VACATIONS WORLDWIDE Corp

2014 Q1 Form 10-Q Financial Statement

#000119312514165811 Filed on April 29, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1
Revenue $401.9M $390.0M
YoY Change 3.06% 3.72%
Cost Of Revenue $254.0M $358.0M
YoY Change -29.05% 0.85%
Gross Profit $273.0M $32.00M
YoY Change 753.13% 52.38%
Gross Profit Margin 67.92% 8.21%
Selling, General & Admin $93.05M $95.00M
YoY Change -2.05% 2.15%
% of Gross Profit 34.08% 296.88%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.658M $6.000M
YoY Change -22.37% -14.29%
% of Gross Profit 1.71% 18.75%
Operating Expenses $93.05M $95.00M
YoY Change -2.05% 2.15%
Operating Profit $180.0M -$63.00M
YoY Change -385.64% -12.5%
Interest Expense -$13.00M $11.00M
YoY Change -218.18% -15.38%
% of Operating Profit -7.22%
Other Income/Expense, Net $0.00 $1.000M
YoY Change -100.0%
Pretax Income $32.07M $30.00M
YoY Change 6.9% 76.47%
Income Tax $12.76M $11.00M
% Of Pretax Income 39.8% 36.67%
Net Earnings $19.31M $19.00M
YoY Change 1.62% 111.11%
Net Earnings / Revenue 4.8% 4.87%
Basic Earnings Per Share $0.55 $0.53
Diluted Earnings Per Share $0.54 $0.51
COMMON SHARES
Basic Shares Outstanding 34.88M shares 35.20M shares
Diluted Shares Outstanding 35.88M shares 36.60M shares

Balance Sheet

Concept 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $200.0M $119.0M
YoY Change 68.07% 54.55%
Cash & Equivalents $199.5M $119.0M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $870.0M $873.0M
Prepaid Expenses
Receivables $109.0M $111.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.179B $1.103B
YoY Change 6.89% -1.43%
LONG-TERM ASSETS
Property, Plant & Equipment $254.0M $256.0M
YoY Change -0.78% -9.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $86.00M $46.00M
YoY Change 86.96% -22.03%
Total Long-Term Assets $1.453B $1.466B
YoY Change -0.89% -8.49%
TOTAL ASSETS
Total Short-Term Assets $1.179B $1.103B
Total Long-Term Assets $1.453B $1.466B
Total Assets $2.632B $2.569B
YoY Change 2.45% -5.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $129.0M $81.00M
YoY Change 59.26% -8.99%
Accrued Expenses $267.0M $241.0M
YoY Change 10.79% 39.31%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $415.0M $343.0M
YoY Change 20.99% -67.73%
LONG-TERM LIABILITIES
Long-Term Debt $718.0M $726.0M
YoY Change -1.1% 1715.0%
Other Long-Term Liabilities $230.0M $290.0M
YoY Change -20.69% -38.3%
Total Long-Term Liabilities $948.0M $1.016B
YoY Change -6.69% 99.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $415.0M $343.0M
Total Long-Term Liabilities $948.0M $1.016B
Total Liabilities $1.423B $1.401B
YoY Change 1.57% -10.93%
SHAREHOLDERS EQUITY
Retained Earnings $82.00M $32.00M
YoY Change 156.25% 357.14%
Common Stock $1.130B $1.116B
YoY Change 1.25% -0.18%
Preferred Stock
YoY Change
Treasury Stock (at cost) $26.00M
YoY Change
Treasury Stock Shares 505.0K shares
Shareholders Equity $1.209B $1.168B
YoY Change
Total Liabilities & Shareholders Equity $2.632B $2.569B
YoY Change 2.45% -5.59%

Cashflow Statement

Concept 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $19.31M $19.00M
YoY Change 1.62% 111.11%
Depreciation, Depletion And Amortization $4.658M $6.000M
YoY Change -22.37% -14.29%
Cash From Operating Activities $48.00M -$11.00M
YoY Change -536.36% -144.0%
INVESTING ACTIVITIES
Capital Expenditures $1.056M $3.000M
YoY Change -64.8% 0.0%
Acquisitions
YoY Change
Other Investing Activities -$21.00M $25.00M
YoY Change -184.0% 13.64%
Cash From Investing Activities $33.00M $22.00M
YoY Change 50.0% 15.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $37.44M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -122.0M 5.000M
YoY Change -2540.0% -106.49%
NET CHANGE
Cash From Operating Activities 48.00M -11.00M
Cash From Investing Activities 33.00M 22.00M
Cash From Financing Activities -122.0M 5.000M
Net Change In Cash -41.00M 16.00M
YoY Change -356.25% -148.48%
FREE CASH FLOW
Cash From Operating Activities $48.00M -$11.00M
Capital Expenditures $1.056M $3.000M
Free Cash Flow $46.94M -$14.00M
YoY Change -435.31% -163.64%

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CY2013Q1 vac Rental Revenue
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CY2013Q1 vac Consumer Financing Interest Expense
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CY2014Q1 dei Trading Symbol
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CY2014Q1 dei Entity Registrant Name
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MARRIOTT VACATIONS WORLDWIDE Corp
CY2014Q1 dei Amendment Flag
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CY2014Q1 dei Entity Filer Category
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CY2014Q1 dei Document Fiscal Year Focus
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CY2014Q1 dei Document Type
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CY2014Q1 dei Document Period End Date
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2014-03-28
CY2014Q1 dei Entity Central Index Key
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CY2014Q1 dei Current Fiscal Year End Date
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CY2014Q1 dei Document Fiscal Period Focus
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CY2014Q1 us-gaap Income Tax Examination Description
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We have joined in the Marriott International U.S. Federal tax consolidated filing for periods up to the date of the Spin-Off. The IRS has examined Marriott International’s federal income tax returns, and it has settled all issues related to the timeshare business for the tax years through the Spin-Off.
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2014Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2014Q1 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
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CY2014Q1 us-gaap Income Tax Expense Benefit
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CY2014Q1 vac Incremental Common Shares Attributable To Stock Option And Stock Appreciation Right Plans
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CY2014Q1 vac Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividends Per Share
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CY2014Q1 vac Incremental Common Shares Attributable To Restricted Stock Units
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CY2014Q1 vac Financing Receivable Allowance For Credit Losses That Would Have Been Increased
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CY2014Q1 vac Significant Acquisitions And Disposals Acquisition Cash Proceeds
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CY2014Q1 vac Revenue Other
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CY2014Q1 vac Rental Expenses
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CY2014Q1 vac Rental Revenue
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CY2014Q1 vac Non Cash Financing Activity Spin Off Adjustment
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CY2014Q1 vac Consumer Financing Interest Expense
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Files In Submission

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0001193125-14-165811.txt Edgar Link pending
0001193125-14-165811-xbrl.zip Edgar Link pending
d701352d10q.htm Edgar Link pending
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vac-20140328.xml Edgar Link completed
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vac-20140328_pre.xml Edgar Link unprocessable