$TNL
Travel & Leisure Co.
CIK:0001361658|SEC Filings
Condensed Consolidated Statements Of Income/(Loss) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|||||||||
| Net revenues | ||||||||||||
| Net revenues | $ 1,063 | $ 1,018 | $ 2,024 | $ 1,951 | ||||||||
| Expenses | ||||||||||||
| Operating | 457 | 457 | 898 | 902 | ||||||||
| Marketing | 172 | 152 | 314 | 276 | ||||||||
| General and administrative | 130 | 116 | 253 | 236 | ||||||||
| Consumer financing interest | 33 | 34 | 65 | 68 | ||||||||
| Depreciation and amortization | 32 | 31 | 64 | 61 | ||||||||
| Cost of vacation ownership interests | 29 | 21 | 63 | 45 | ||||||||
| Restructuring | 0 | 0 | (2) | 0 | ||||||||
| Asset impairments, net | 0 | 1 | 0 | 1 | ||||||||
| Total expenses | 853 | 812 | 1,655 | 1,589 | ||||||||
| Operating income | 210 | 206 | 369 | 362 | ||||||||
| Interest expense | 59 | [1] | 57 | 115 | [2] | 115 | ||||||
| Other (income), net | (2) | (1) | (4) | (2) | ||||||||
| Interest (income) | (2) | (2) | (5) | (4) | ||||||||
| Income before income taxes | 155 | 152 | 263 | 253 | ||||||||
| Provision for income taxes | 46 | 44 | 75 | 72 | ||||||||
| Net income attributable to Travel + Leisure Co. shareholders | $ 109 | $ 108 | $ 188 | $ 181 | ||||||||
| Basic earnings per share | ||||||||||||
| Basic earnings per share | [3] | $ 1.75 | $ 1.63 | $ 3.00 | $ 2.71 | |||||||
| Diluted earnings per share | ||||||||||||
| Diluted earnings per share | [3] | $ 1.72 | $ 1.62 | $ 2.94 | $ 2.68 | |||||||
| Vacation ownership interest sales | ||||||||||||
| Net revenues | ||||||||||||
| Net revenues | $ 524 | $ 474 | $ 951 | $ 858 | ||||||||
| Service and membership fees | ||||||||||||
| Net revenues | ||||||||||||
| Net revenues | 396 | 407 | 792 | 823 | ||||||||
| Consumer financing | ||||||||||||
| Net revenues | ||||||||||||
| Net revenues | 113 | 112 | 226 | 224 | ||||||||
| Other | ||||||||||||
| Net revenues | ||||||||||||
| Net revenues | $ 30 | $ 25 | $ 55 | $ 46 | ||||||||
| ||||||||||||
Condensed Consolidated Balance Sheets - USD ($) $ in Millions |
Jun. 30, 2026 |
Dec. 31, 2025 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $ 282 | $ 253 |
| Restricted cash (VIE - $86 as of 2026 and $87 as of 2025) | 189 | 173 |
| Trade receivables, net | 152 | 165 |
| Vacation ownership contract receivables, net (VIE - $2,162 as of 2026 and $2,281 as of 2025) | 2,589 | 2,638 |
| Inventory | 1,179 | 1,128 |
| Prepaid expenses | 264 | 214 |
| Property and equipment, net | 524 | 531 |
| Goodwill | 972 | 972 |
| Other intangibles, net | 197 | 201 |
| Other assets | 548 | 485 |
| Total assets | 6,896 | 6,760 |
| Liabilities and (deficit) | ||
| Accounts payable | 59 | 62 |
| Accrued expenses and other liabilities | 957 | 910 |
| Deferred income | 462 | 468 |
| Non-recourse vacation ownership debt (VIE) | 2,010 | 2,124 |
| Debt | 3,700 | 3,474 |
| Deferred income taxes | 728 | 704 |
| Total liabilities | 7,916 | 7,742 |
| Commitments and contingencies (Note 15) | ||
| Stockholders' (deficit): | ||
| Preferred stock, $0.01 par value, authorized 6,000,000 shares, none issued and outstanding | 0 | 0 |
| Common stock, $0.01 par value, 600,000,000 shares authorized, 226,628,187 issued as of 2026 and 225,937,948 as of 2025 | 3 | 3 |
| Treasury stock, at cost – 165,346,102 shares as of 2026 and 162,880,360 shares as of 2025 | (7,912) | (7,735) |
| Additional paid-in capital | 4,430 | 4,405 |
| Retained earnings | 2,524 | 2,412 |
| Accumulated other comprehensive loss | (64) | (66) |
| Total stockholders’ (deficit) | (1,019) | (981) |
| Noncontrolling interest | (1) | (1) |
| Total (deficit) | (1,020) | (982) |
| Total liabilities and (deficit) | $ 6,896 | $ 6,760 |