2020 Q4 Form 10-K Financial Statement

#000172268421000008 Filed on February 12, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2020 Q2
Revenue $296.0M $337.0M $258.0M
YoY Change -39.84% -39.82% -51.59%
Cost Of Revenue $184.0M $189.0M $151.0M
YoY Change -32.6% -41.12% -51.13%
Gross Profit $112.0M $148.0M $107.0M
YoY Change -48.86% -38.08% -52.23%
Gross Profit Margin 37.84% 43.92% 41.47%
Selling, General & Admin $61.00M $53.00M $49.00M
YoY Change -15.28% -30.26% -28.99%
% of Gross Profit 54.46% 35.81% 45.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.00M $24.00M $24.00M
YoY Change -10.71% -4.0% -11.11%
% of Gross Profit 22.32% 16.22% 22.43%
Operating Expenses $86.00M $77.00M $74.00M
YoY Change -14.0% -24.51% -22.92%
Operating Profit $21.00M $71.00M -$194.0M
YoY Change -79.61% -21.98% -412.9%
Interest Expense $30.00M $29.00M $28.00M
YoY Change 20.0% 16.0% 7.69%
% of Operating Profit 142.86% 40.85%
Other Income/Expense, Net
YoY Change
Pretax Income -$9.000M $42.00M -$222.0M
YoY Change -111.54% -36.36% -716.67%
Income Tax -$2.000M $15.00M -$48.00M
% Of Pretax Income 35.71%
Net Earnings -$7.000M $27.00M -$174.0M
YoY Change -110.94% 22.73% -769.23%
Net Earnings / Revenue -2.36% 8.01% -67.44%
Basic Earnings Per Share $0.29 -$1.86
Diluted Earnings Per Share -$0.08 $0.29 -$1.86
COMMON SHARES
Basic Shares Outstanding 93.30M shares 93.30M shares
Diluted Shares Outstanding 93.30M shares 93.40M shares 93.30M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $493.0M $735.0M $664.0M
YoY Change 424.47% 448.51% 520.56%
Cash & Equivalents $493.0M $735.0M $664.0M
Short-Term Investments
Other Short-Term Assets $67.00M $39.00M $49.00M
YoY Change 26.42% -41.79% -34.67%
Inventory
Prepaid Expenses $45.00M $42.00M $51.00M
Receivables $295.0M $324.0M $314.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $900.0M $1.140B $1.078B
YoY Change 80.36% 94.54% 80.87%
LONG-TERM ASSETS
Property, Plant & Equipment $278.0M $284.0M $294.0M
YoY Change -9.45% -8.39% -6.96%
Goodwill $1.525B $1.525B $1.525B
YoY Change -0.91% -0.91% -0.91%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $226.0M $220.0M $216.0M
YoY Change -6.61% -8.71% -9.62%
Total Long-Term Assets $3.744B $3.754B $3.770B
YoY Change -7.19% -7.17% -7.14%
TOTAL ASSETS
Total Short-Term Assets $900.0M $1.140B $1.078B
Total Long-Term Assets $3.744B $3.754B $3.770B
Total Assets $4.644B $4.894B $4.848B
YoY Change 2.45% 5.7% 4.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.00M $41.00M $40.00M
YoY Change -6.67% -21.15% -33.33%
Accrued Expenses $226.0M $241.0M $183.0M
YoY Change -19.0% -30.55% -34.41%
Deferred Revenue $71.00M $78.00M $99.00M
YoY Change -46.21% -17.02% -18.18%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $21.00M $21.00M $21.00M
YoY Change 0.0% 0.0% 0.0%
Total Short-Term Liabilities $346.0M $381.0M $343.0M
YoY Change -25.11% -25.88% -28.69%
LONG-TERM LIABILITIES
Long-Term Debt $2.576B $2.814B $2.826B
YoY Change 22.61% 33.62% 33.93%
Other Long-Term Liabilities $242.0M $252.0M $257.0M
YoY Change 10.0% 11.01% 13.72%
Total Long-Term Liabilities $242.0M $252.0M $257.0M
YoY Change 10.0% 11.01% 13.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $346.0M $381.0M $343.0M
Total Long-Term Liabilities $242.0M $252.0M $257.0M
Total Liabilities $3.681B $3.931B $3.915B
YoY Change 10.84% 16.03% 16.66%
SHAREHOLDERS EQUITY
Retained Earnings -$82.00M -$66.00M -$86.00M
YoY Change -172.57% -185.71% -245.76%
Common Stock $1.000M $1.000M $1.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $408.0M $408.0M $408.0M
YoY Change 12.4% 41.18% 90.65%
Treasury Stock Shares 7.700M shares 7.700M shares 7.700M shares
Shareholders Equity $963.0M $963.0M $933.0M
YoY Change
Total Liabilities & Shareholders Equity $4.644B $4.894B $4.848B
YoY Change 2.45% 5.7% 4.12%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income -$7.000M $27.00M -$174.0M
YoY Change -110.94% 22.73% -769.23%
Depreciation, Depletion And Amortization $25.00M $24.00M $24.00M
YoY Change -10.71% -4.0% -11.11%
Cash From Operating Activities $10.00M $97.00M -$57.00M
YoY Change -89.01% -33.56% -60.42%
INVESTING ACTIVITIES
Capital Expenditures -$10.00M -$5.000M -$11.00M
YoY Change -33.33% -50.0% -31.25%
Acquisitions
YoY Change
Other Investing Activities $3.000M $0.00 -$1.000M
YoY Change -400.0%
Cash From Investing Activities -$7.000M -$5.000M -$12.00M
YoY Change -56.25% -50.0% -25.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -246.0M -21.00M -17.00M
YoY Change 112.07% -80.56% -5.56%
NET CHANGE
Cash From Operating Activities 10.00M 97.00M -57.00M
Cash From Investing Activities -7.000M -5.000M -12.00M
Cash From Financing Activities -246.0M -21.00M -17.00M
Net Change In Cash -243.0M 71.00M -86.00M
YoY Change 492.68% 153.57% -51.69%
FREE CASH FLOW
Cash From Operating Activities $10.00M $97.00M -$57.00M
Capital Expenditures -$10.00M -$5.000M -$11.00M
Free Cash Flow $20.00M $102.0M -$46.00M
YoY Change -81.13% -34.62% -64.06%

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CY2018 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2018 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2019 us-gaap Payments Of Distributions To Affiliates
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CY2019 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2018 us-gaap Dividends
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CY2020Q4 us-gaap Stockholders Equity
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CY2020Q4 us-gaap Number Of Countries In Which Entity Operates
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CY2018Q2 wh Tax Free Distribution Stockholders Rightto Exchange Conversion Ratio
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1
CY2020Q4 wh Numberof Owned Hotel Properties
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CY2020 us-gaap Use Of Estimates
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<div style="margin-top:10pt;text-align:justify"><span style="color:#006ebf;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of estimates and assumptions</span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the Consolidated and Combined Financial Statements requires Wyndham Hotels to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in the Consolidated and Combined Financial Statements and accompanying notes. Although these estimates and assumptions are based on Wyndham Hotels’ knowledge of current events and actions Wyndham Hotels may undertake in the future, actual results may ultimately differ from estimates and assumptions.</span></div>
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CY2020Q4 wh Numberof Owned Hotel Properties
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CY2020Q4 us-gaap Contract With Customer Liability
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CY2019Q4 us-gaap Contract With Customer Liability
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283000000 USD
CY2020 wh Revenue Recognition Period Franchise Agreement
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P12Y
CY2020 wh Revenue Recognition Period Cobranded Credit Card Program
RevenueRecognitionPeriodCobrandedCreditCardProgram
P1Y
CY2020 wh Revenue Performance Obligation Period Between Performance Obligation Satisfactionand Customer Payment
RevenuePerformanceObligationPeriodBetweenPerformanceObligationSatisfactionandCustomerPayment
P1Y
CY2020Q4 us-gaap Revenue Remaining Performance Obligation
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CY2020Q4 us-gaap Revenue Remaining Performance Obligation
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CY2020Q4 us-gaap Revenue Remaining Performance Obligation
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CY2020Q4 us-gaap Revenue Remaining Performance Obligation
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CY2020Q4 us-gaap Revenue Remaining Performance Obligation
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1300000000 USD
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CY2018 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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1868000000 USD
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20000000 USD
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CY2020Q4 us-gaap Capitalized Contract Cost Net
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CY2018 us-gaap Net Income Loss
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CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
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300000 shares
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99800000 shares
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CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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EarningsPerShareDiluted
1.62
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1.16
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77000000 USD
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100000 shares
CY2020Q4 wh Treasury Stock Average Cost Per Share
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191000000 USD
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408000000 USD
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CY2017Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2019 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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CY2018 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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17000000 USD
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72000000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
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47000000 USD
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable
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52000000 USD
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CY2019 us-gaap Provision For Doubtful Accounts
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CY2018 us-gaap Provision For Doubtful Accounts
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CY2020Q4 us-gaap Accounts And Financing Receivable Allowance For Credit Loss
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CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses
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4000000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
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307000000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
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740000000 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
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729000000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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462000000 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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422000000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
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278000000 USD
CY2020 us-gaap Depreciation
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CY2019 us-gaap Depreciation
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CY2018 us-gaap Depreciation
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10000000 USD
CY2020Q2 us-gaap Goodwill And Intangible Asset Impairment
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205000000 USD
CY2020Q2 wh Number Of Other Trademark Assets Impaired
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3 trademark
CY2020Q4 us-gaap Goodwill Gross
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1539000000 USD
CY2020Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
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14000000 USD
CY2020Q4 us-gaap Goodwill
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1525000000 USD
CY2019Q4 us-gaap Goodwill Gross
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1539000000 USD
CY2019Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
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CY2019 us-gaap Translation Adjustment Functional To Reporting Currency Increase Decrease Gross Of Tax
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CY2018 us-gaap Translation Adjustment Functional To Reporting Currency Increase Decrease Gross Of Tax
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CY2019Q4 us-gaap Litigation Reserve
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CY2019Q4 wh Guarantees Postclosing Credit Support
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53.40
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0
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54.72
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0
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55.57
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CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.2224
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CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P4Y3M
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CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0263
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.0221
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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CY2018 us-gaap Allocated Share Based Compensation Expense
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CY2018 wh Transaction Related Costs
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CY2018 us-gaap Gain Loss On Contract Termination
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CY2019 us-gaap Translation Adjustment Functional To Reporting Currency Increase Decrease Gross Of Tax
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