$VAC
MARRIOTT VACATIONS WORLDWIDE Corp

2014 Q2 Form 10-Q Financial Statement

#000119312514278152 Filed on July 24, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $409.9M $421.0M
YoY Change -2.64% 9.92%
Cost Of Revenue $188.0M $373.0M
YoY Change -49.6% 0.27%
Gross Profit $221.9M $48.00M
YoY Change 362.29% 336.36%
Gross Profit Margin 54.13% 11.4%
Selling, General & Admin $95.38M $96.00M
YoY Change -0.65% -2.04%
% of Gross Profit 42.98% 200.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.200M $5.000M
YoY Change -16.0% -28.57%
% of Gross Profit 1.89% 10.42%
Operating Expenses $95.38M $96.00M
YoY Change -0.65% -2.04%
Operating Profit $126.5M -$48.00M
YoY Change -363.58% -44.83%
Interest Expense -$8.200M $11.00M
YoY Change -174.55% -21.43%
% of Operating Profit -6.48%
Other Income/Expense, Net $400.0K $0.00
YoY Change -100.0%
Pretax Income $57.65M $44.00M
YoY Change 31.02% 388.89%
Income Tax $22.34M $14.00M
% Of Pretax Income 38.76% 31.82%
Net Earnings $35.30M $30.00M
YoY Change 17.68% 500.0%
Net Earnings / Revenue 8.61% 7.13%
Basic Earnings Per Share $1.03 $0.87
Diluted Earnings Per Share $1.00 $0.85
COMMON SHARES
Basic Shares Outstanding 34.29M shares 35.40M shares
Diluted Shares Outstanding 35.24M shares 36.60M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $170.0M $104.0M
YoY Change 63.46% 25.3%
Cash & Equivalents $169.8M $104.0M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $826.0M $869.0M
Prepaid Expenses
Receivables $121.0M $101.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.117B $1.074B
YoY Change 4.0% -1.56%
LONG-TERM ASSETS
Property, Plant & Equipment $215.0M $252.0M
YoY Change -14.68% -8.36%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $42.00M $64.00M
YoY Change -34.38% -11.11%
Total Long-Term Assets $1.293B $1.437B
YoY Change -10.02% -7.65%
TOTAL ASSETS
Total Short-Term Assets $1.117B $1.074B
Total Long-Term Assets $1.293B $1.437B
Total Assets $2.410B $2.511B
YoY Change -4.02% -5.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $75.00M $81.00M
YoY Change -7.41% 0.0%
Accrued Expenses $235.0M $226.0M
YoY Change 3.98% 21.51%
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 $329.0M $328.0M
YoY Change 0.3% -67.72%
LONG-TERM LIABILITIES
Long-Term Debt $610.0M $687.0M
YoY Change -11.21% 1617.5%
Other Long-Term Liabilities $239.0M $265.0M
YoY Change -9.81% -39.36%
Total Long-Term Liabilities $849.0M $952.0M
YoY Change -10.82% 99.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $329.0M $328.0M
Total Long-Term Liabilities $849.0M $952.0M
Total Liabilities $1.236B $1.321B
YoY Change -6.43% -11.52%
SHAREHOLDERS EQUITY
Retained Earnings $137.0M $51.00M
YoY Change 168.63% 240.0%
Common Stock $1.129B $1.119B
YoY Change 0.89% -0.27%
Preferred Stock
YoY Change
Treasury Stock (at cost) $115.0M
YoY Change
Treasury Stock Shares 2.175M shares
Shareholders Equity $1.174B $1.190B
YoY Change
Total Liabilities & Shareholders Equity $2.410B $2.511B
YoY Change -4.02% -5.14%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $35.30M $30.00M
YoY Change 17.68% 500.0%
Depreciation, Depletion And Amortization $4.200M $5.000M
YoY Change -16.0% -28.57%
Cash From Operating Activities $49.90M $45.00M
YoY Change 10.89% -44.44%
INVESTING ACTIVITIES
Capital Expenditures -$1.900M -$4.000M
YoY Change -52.5% 0.0%
Acquisitions
YoY Change
Other Investing Activities $42.70M -$18.00M
YoY Change -337.22% 80.0%
Cash From Investing Activities $40.80M -$22.00M
YoY Change -285.45% 57.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -80.10M -38.00M
YoY Change 110.79% -35.59%
NET CHANGE
Cash From Operating Activities 49.90M 45.00M
Cash From Investing Activities 40.80M -22.00M
Cash From Financing Activities -80.10M -38.00M
Net Change In Cash 10.60M -15.00M
YoY Change -170.67% -287.5%
FREE CASH FLOW
Cash From Operating Activities $49.90M $45.00M
Capital Expenditures -$1.900M -$4.000M
Free Cash Flow $51.80M $49.00M
YoY Change 5.71% -42.35%

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