false--12-31Q2201900013616582000000.660.410.450.450.010.016000000006000000002201208082204010651000000000400000000650000000300000000250000000400000000350000000400000003000000000.0390.04250.0540.056250.05750.06350.07375100000070000001000000210000000.010.01600000060000000000288329162000000100000012011820000001000000P1YP1YP1YP1YP1YP1YP1YP1YP1YP1YP1YP1YP1YP1YP1YP1YP1YP1YP1YP1YP1YP1YP1YP1Y2357237412513785712809382360000000.330.670.670.330.330.670.330.67
0001361658
2019-01-01
2019-06-30
0001361658
2019-06-30
0001361658
wyn:OtherRevenueMember
2019-04-01
2019-06-30
0001361658
2018-04-01
2018-06-30
0001361658
2018-01-01
2018-06-30
0001361658
wyn:ServiceandMembershipFeesMember
2019-01-01
2019-06-30
0001361658
2019-04-01
2019-06-30
0001361658
wyn:ConsumerFinancingMember
2019-04-01
2019-06-30
0001361658
wyn:ServiceandMembershipFeesMember
2018-01-01
2018-06-30
0001361658
wyn:VacationOwnershipInterestSalesMember
2019-01-01
2019-06-30
0001361658
wyn:OtherRevenueMember
2018-01-01
2018-06-30
0001361658
wyn:VacationOwnershipInterestSalesMember
2019-04-01
2019-06-30
0001361658
wyn:ConsumerFinancingMember
2018-01-01
2018-06-30
0001361658
wyn:VacationOwnershipInterestSalesMember
2018-01-01
2018-06-30
0001361658
wyn:VacationOwnershipInterestSalesMember
2018-04-01
2018-06-30
0001361658
wyn:ConsumerFinancingMember
2018-04-01
2018-06-30
0001361658
wyn:OtherRevenueMember
2018-04-01
2018-06-30
0001361658
wyn:ServiceandMembershipFeesMember
2019-04-01
2019-06-30
0001361658
wyn:ConsumerFinancingMember
2019-01-01
2019-06-30
0001361658
wyn:ServiceandMembershipFeesMember
2018-04-01
2018-06-30
0001361658
wyn:OtherRevenueMember
2019-01-01
2019-06-30
0001361658
2018-12-31
0001361658
us-gaap:VariableInterestEntityPrimaryBeneficiaryMember
2018-12-31
0001361658
us-gaap:VariableInterestEntityPrimaryBeneficiaryMember
2019-06-30
0001361658
2018-06-30
0001361658
2017-12-31
0001361658
us-gaap:TreasuryStockMember
2018-06-30
0001361658
us-gaap:CommonStockMember
2018-06-30
0001361658
us-gaap:RetainedEarningsAppropriatedMember
2018-03-31
0001361658
us-gaap:CommonStockMember
2017-12-31
0001361658
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2018-06-30
0001361658
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2018-03-31
0001361658
us-gaap:RetainedEarningsAppropriatedMember
2017-12-31
0001361658
us-gaap:RetainedEarningsAppropriatedMember
2018-04-01
2018-06-30
0001361658
us-gaap:RetainedEarningsAppropriatedMember
2018-01-01
2018-03-31
0001361658
us-gaap:NoncontrollingInterestMember
2018-01-01
2018-03-31
0001361658
us-gaap:CommonStockMember
2018-03-31
0001361658
us-gaap:AdditionalPaidInCapitalMember
2018-03-31
0001361658
us-gaap:NoncontrollingInterestMember
2017-12-31
0001361658
2018-01-01
2018-03-31
0001361658
us-gaap:TreasuryStockMember
2018-03-31
0001361658
us-gaap:AdditionalPaidInCapitalMember
2017-12-31
0001361658
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2018-04-01
2018-06-30
0001361658
us-gaap:CommonStockMember
2018-04-01
2018-06-30
0001361658
us-gaap:TreasuryStockMember
2018-01-01
2018-03-31
0001361658
us-gaap:AdditionalPaidInCapitalMember
2018-06-30
0001361658
us-gaap:NoncontrollingInterestMember
2018-06-30
0001361658
us-gaap:AdditionalPaidInCapitalMember
2018-04-01
2018-06-30
0001361658
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2018-01-01
2018-03-31
0001361658
us-gaap:TreasuryStockMember
2018-04-01
2018-06-30
0001361658
2018-03-31
0001361658
us-gaap:NoncontrollingInterestMember
2018-03-31
0001361658
us-gaap:AdditionalPaidInCapitalMember
2018-01-01
2018-03-31
0001361658
us-gaap:CommonStockMember
2018-01-01
2018-03-31
0001361658
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2017-12-31
0001361658
us-gaap:RetainedEarningsAppropriatedMember
2018-06-30
0001361658
us-gaap:NoncontrollingInterestMember
2018-04-01
2018-06-30
0001361658
us-gaap:TreasuryStockMember
2017-12-31
0001361658
us-gaap:NoncontrollingInterestMember
2018-12-31
0001361658
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2019-04-01
2019-06-30
0001361658
us-gaap:CommonStockMember
2019-06-30
0001361658
us-gaap:AdditionalPaidInCapitalMember
2019-03-31
0001361658
us-gaap:AdditionalPaidInCapitalMember
2018-12-31
0001361658
us-gaap:RetainedEarningsAppropriatedMember
2019-01-01
2019-03-31
0001361658
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2018-12-31
0001361658
us-gaap:TreasuryStockMember
2019-01-01
2019-03-31
0001361658
2019-01-01
2019-03-31
0001361658
2019-03-31
0001361658
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2019-03-31
0001361658
us-gaap:CommonStockMember
2019-01-01
2019-03-31
0001361658
us-gaap:RetainedEarningsAppropriatedMember
2019-04-01
2019-06-30
0001361658
us-gaap:CommonStockMember
2019-03-31
0001361658
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2019-06-30
0001361658
us-gaap:RetainedEarningsAppropriatedMember
2019-06-30
0001361658
us-gaap:RetainedEarningsAppropriatedMember
2018-12-31
0001361658
us-gaap:AdditionalPaidInCapitalMember
2019-04-01
2019-06-30
0001361658
us-gaap:NoncontrollingInterestMember
2019-04-01
2019-06-30
0001361658
us-gaap:RetainedEarningsAppropriatedMember
2019-03-31
0001361658
us-gaap:NoncontrollingInterestMember
2019-06-30
0001361658
us-gaap:AdditionalPaidInCapitalMember
2019-06-30
0001361658
us-gaap:AdditionalPaidInCapitalMember
2019-01-01
2019-03-31
0001361658
us-gaap:TreasuryStockMember
2019-04-01
2019-06-30
0001361658
us-gaap:TreasuryStockMember
2019-06-30
0001361658
us-gaap:CommonStockMember
2018-12-31
0001361658
us-gaap:NoncontrollingInterestMember
2019-03-31
0001361658
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2019-01-01
2019-03-31
0001361658
us-gaap:CommonStockMember
2019-04-01
2019-06-30
0001361658
us-gaap:TreasuryStockMember
2018-12-31
0001361658
us-gaap:TreasuryStockMember
2019-03-31
0001361658
us-gaap:NoncontrollingInterestMember
2019-01-01
2019-03-31
0001361658
2019-01-01
0001361658
us-gaap:AccountingStandardsUpdate201602Member
2019-01-01
0001361658
us-gaap:DiscontinuedOperationsHeldForSaleOrDisposedOfBySaleMember
2019-01-01
0001361658
wyn:OtherExchangeRelatedRevenueMember
2019-06-30
0001361658
wyn:SubscriptionRevenueMember
2019-06-30
0001361658
wyn:OtherExchangeRelatedRevenueMember
2018-12-31
0001361658
wyn:OtherProductsandServicesMember
2019-06-30
0001361658
wyn:VOITrialPackageRevenueMember
2018-12-31
0001361658
wyn:VOITrialPackageRevenueMember
2019-06-30
0001361658
wyn:VOIIncentiveRevenueMember
2018-12-31
0001361658
wyn:SubscriptionRevenueMember
2018-12-31
0001361658
wyn:OtherProductsandServicesMember
2018-12-31
0001361658
us-gaap:CreditCardMember
2019-06-30
0001361658
us-gaap:CreditCardMember
2018-12-31
0001361658
wyn:VOIIncentiveRevenueMember
2019-06-30
0001361658
us-gaap:DiscontinuedOperationsHeldForSaleOrDisposedOfBySaleMember
2019-06-30
0001361658
wyn:VacationOwnershipBusinessMember
2019-06-30
0001361658
wyn:VacationRentalRevenuesMember
us-gaap:DiscontinuedOperationsHeldforsaleMember
2019-06-30
0001361658
wyn:VacationExchangeBusinessMember
2018-12-31
0001361658
wyn:VacationRentalRevenuesMember
us-gaap:DiscontinuedOperationsHeldforsaleMember
2018-12-31
0001361658
wyn:VacationExchangeBusinessMember
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:PropertyManagementFeesandReimbursableRevenuesMember
wyn:VacationOwnershipMember
2018-04-01
2018-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:PropertyManagementFeesandReimbursableRevenuesMember
wyn:VacationOwnershipMember
2018-01-01
2018-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:PropertyManagementFeesandReimbursableRevenuesMember
wyn:VacationOwnershipMember
2019-01-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:PropertyManagementFeesandReimbursableRevenuesMember
wyn:VacationOwnershipMember
2019-04-01
2019-06-30
0001361658
wyn:VacationOwnershipBusinessMember
2018-12-31
0001361658
us-gaap:OperatingSegmentsMember
wyn:VacationOwnershipInterestSalesMember
wyn:VacationOwnershipMember
2018-04-01
2018-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:VacationOwnershipMember
2019-01-01
2019-06-30
0001361658
us-gaap:CorporateNonSegmentMember
2019-04-01
2019-06-30
0001361658
us-gaap:CorporateNonSegmentMember
2018-04-01
2018-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:VacationRentalRevenuesMember
wyn:ExchangeAndRentalsMember
2019-04-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:ExchangeAndRentalsMember
2019-01-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:AncillaryRevenuesMember
wyn:ExchangeAndRentalsMember
2019-01-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:AncillaryRevenuesMember
wyn:VacationOwnershipMember
2018-04-01
2018-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:ExchangeRevenuesMember
wyn:ExchangeAndRentalsMember
2019-04-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:VacationRentalRevenuesMember
wyn:ExchangeAndRentalsMember
2019-01-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:ExchangeRevenuesMember
wyn:ExchangeAndRentalsMember
2018-01-01
2018-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:ExchangeAndRentalsMember
2018-01-01
2018-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:VacationOwnershipInterestSalesMember
wyn:VacationOwnershipMember
2019-04-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:ExchangeAndRentalsMember
2019-04-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:VacationOwnershipMember
2019-04-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:ExchangeRevenuesMember
wyn:ExchangeAndRentalsMember
2018-04-01
2018-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:VacationOwnershipMember
2018-04-01
2018-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:VacationOwnershipInterestSalesMember
wyn:VacationOwnershipMember
2019-01-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:AncillaryRevenuesMember
wyn:VacationOwnershipMember
2019-04-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:ExchangeAndRentalsMember
2018-04-01
2018-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:AncillaryRevenuesMember
wyn:VacationOwnershipMember
2018-01-01
2018-06-30
0001361658
us-gaap:CorporateNonSegmentMember
2018-01-01
2018-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:VacationRentalRevenuesMember
wyn:ExchangeAndRentalsMember
2018-04-01
2018-06-30
0001361658
us-gaap:CorporateNonSegmentMember
wyn:AncillaryRevenuesMember
2019-01-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:AncillaryRevenuesMember
wyn:ExchangeAndRentalsMember
2018-01-01
2018-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:VacationRentalRevenuesMember
wyn:ExchangeAndRentalsMember
2018-01-01
2018-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:FeeforserviceCommissionsMember
wyn:VacationOwnershipMember
2018-04-01
2018-06-30
0001361658
us-gaap:CorporateNonSegmentMember
wyn:AncillaryRevenuesMember
2018-01-01
2018-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:FeeforserviceCommissionsMember
wyn:VacationOwnershipMember
2019-04-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:ConsumerFinancingMember
wyn:VacationOwnershipMember
2018-04-01
2018-06-30
0001361658
us-gaap:CorporateNonSegmentMember
wyn:EliminationsMember
2018-04-01
2018-06-30
0001361658
us-gaap:CorporateNonSegmentMember
wyn:EliminationsMember
2019-01-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:AncillaryRevenuesMember
wyn:ExchangeAndRentalsMember
2018-04-01
2018-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:ExchangeRevenuesMember
wyn:ExchangeAndRentalsMember
2019-01-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:FeeforserviceCommissionsMember
wyn:VacationOwnershipMember
2019-01-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:AncillaryRevenuesMember
wyn:VacationOwnershipMember
2019-01-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:FeeforserviceCommissionsMember
wyn:VacationOwnershipMember
2018-01-01
2018-06-30
0001361658
us-gaap:CorporateNonSegmentMember
wyn:EliminationsMember
2018-01-01
2018-06-30
0001361658
us-gaap:CorporateNonSegmentMember
wyn:AncillaryRevenuesMember
2019-04-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:ConsumerFinancingMember
wyn:VacationOwnershipMember
2019-04-01
2019-06-30
0001361658
us-gaap:CorporateNonSegmentMember
2019-01-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:ConsumerFinancingMember
wyn:VacationOwnershipMember
2018-01-01
2018-06-30
0001361658
us-gaap:CorporateNonSegmentMember
wyn:AncillaryRevenuesMember
2018-04-01
2018-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:VacationOwnershipInterestSalesMember
wyn:VacationOwnershipMember
2018-01-01
2018-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:VacationOwnershipMember
2018-01-01
2018-06-30
0001361658
us-gaap:CorporateNonSegmentMember
wyn:EliminationsMember
2019-04-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:ConsumerFinancingMember
wyn:VacationOwnershipMember
2019-01-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:AncillaryRevenuesMember
wyn:ExchangeAndRentalsMember
2019-04-01
2019-06-30
0001361658
wyn:OtherProductsandServicesMember
2021-07-01
2019-06-30
0001361658
us-gaap:CreditCardMember
2021-07-01
2019-06-30
0001361658
2019-06-30
0001361658
wyn:VOITrialPackageRevenueMember
2019-06-30
0001361658
wyn:SubscriptionRevenueMember
2019-07-01
2019-06-30
0001361658
2021-07-01
2019-06-30
0001361658
us-gaap:CreditCardMember
2022-07-01
2019-06-30
0001361658
wyn:OtherExchangeRelatedRevenueMember
2019-06-30
0001361658
wyn:SubscriptionRevenueMember
2021-07-01
2019-06-30
0001361658
wyn:VOIIncentiveRevenueMember
2019-07-01
2019-06-30
0001361658
wyn:VOITrialPackageRevenueMember
2019-07-01
2019-06-30
0001361658
us-gaap:CreditCardMember
2019-06-30
0001361658
wyn:SubscriptionRevenueMember
2022-07-01
2019-06-30
0001361658
wyn:VOIIncentiveRevenueMember
2021-07-01
2019-06-30
0001361658
wyn:OtherProductsandServicesMember
2022-07-01
2019-06-30
0001361658
wyn:OtherProductsandServicesMember
2020-07-01
2019-06-30
0001361658
wyn:OtherExchangeRelatedRevenueMember
2019-07-01
2019-06-30
0001361658
wyn:OtherExchangeRelatedRevenueMember
2020-07-01
2019-06-30
0001361658
wyn:SubscriptionRevenueMember
2020-07-01
2019-06-30
0001361658
us-gaap:CreditCardMember
2019-07-01
2019-06-30
0001361658
2020-07-01
2019-06-30
0001361658
wyn:OtherExchangeRelatedRevenueMember
2021-07-01
2019-06-30
0001361658
us-gaap:CreditCardMember
2020-07-01
2019-06-30
0001361658
wyn:OtherExchangeRelatedRevenueMember
2022-07-01
2019-06-30
0001361658
wyn:VOIIncentiveRevenueMember
2020-07-01
2019-06-30
0001361658
wyn:VOITrialPackageRevenueMember
2020-07-01
2019-06-30
0001361658
wyn:VOIIncentiveRevenueMember
2022-07-01
2019-06-30
0001361658
wyn:SubscriptionRevenueMember
2019-06-30
0001361658
2019-07-01
2019-06-30
0001361658
wyn:VOIIncentiveRevenueMember
2019-06-30
0001361658
wyn:VOITrialPackageRevenueMember
2021-07-01
2019-06-30
0001361658
wyn:VOITrialPackageRevenueMember
2022-07-01
2019-06-30
0001361658
wyn:OtherProductsandServicesMember
2019-07-01
2019-06-30
0001361658
wyn:OtherProductsandServicesMember
2019-06-30
0001361658
2022-07-01
2019-06-30
0001361658
wyn:RentalRevenueMember
2019-07-01
2019-06-30
0001361658
wyn:RentalRevenueMember
2019-06-30
0001361658
wyn:RentalRevenueMember
2022-07-01
2019-06-30
0001361658
wyn:RentalRevenueMember
2021-07-01
2019-06-30
0001361658
wyn:RentalRevenueMember
2020-07-01
2019-06-30
0001361658
us-gaap:RestrictedStockUnitsRSUMember
2018-04-01
2018-06-30
0001361658
us-gaap:PerformanceSharesMember
2019-04-01
2019-06-30
0001361658
wyn:StockAwardsMember
2018-01-01
2018-06-30
0001361658
wyn:StockAwardsMember
2019-01-01
2019-06-30
0001361658
us-gaap:RestrictedStockUnitsRSUMember
2019-04-01
2019-06-30
0001361658
wyn:StockAwardsMember
2019-04-01
2019-06-30
0001361658
wyn:StockAwardsMember
2018-04-01
2018-06-30
0001361658
us-gaap:PerformanceSharesMember
2018-01-01
2018-06-30
0001361658
us-gaap:RestrictedStockUnitsRSUMember
2019-01-01
2019-06-30
0001361658
wyn:StockRepurchaseProgramMember
2018-12-31
0001361658
wyn:StockRepurchaseProgramMember
2019-01-01
2019-06-30
0001361658
wyn:StockRepurchaseProgramMember
2019-06-30
0001361658
us-gaap:PerformanceSharesMember
2019-01-01
2019-06-30
0001361658
us-gaap:SegmentDiscontinuedOperationsMember
2019-01-01
2019-06-30
0001361658
us-gaap:SegmentDiscontinuedOperationsMember
2018-01-01
2018-06-30
0001361658
us-gaap:SegmentDiscontinuedOperationsMember
2019-04-01
2019-06-30
0001361658
us-gaap:SegmentDiscontinuedOperationsMember
2018-04-01
2018-06-30
0001361658
wyn:SecuritizedReceivableMember
2019-06-30
0001361658
wyn:NonSecuritizedReceivableMember
2018-12-31
0001361658
wyn:SecuritizedReceivableMember
2018-12-31
0001361658
wyn:NonSecuritizedReceivableMember
2019-06-30
0001361658
wyn:FicoScoresLessThan600Member
wyn:ThreeOneToSixZeroDaysMember
2018-12-31
0001361658
wyn:WyndhamVacationResortsAsiaPacificMember
wyn:ThreeOneToSixZeroDaysMember
2019-06-30
0001361658
us-gaap:FicoScore600To699Member
wyn:ThreeOneToSixZeroDaysMember
2019-06-30
0001361658
us-gaap:FicoScoreGreaterThan700Member
wyn:ThreeOneToSixZeroDaysMember
2019-06-30
0001361658
us-gaap:FicoScoreGreaterThan700Member
2018-12-31
0001361658
wyn:FicoScoresLessThan600Member
wyn:NineOneToOneTwoZeroDaysMember
2019-06-30
0001361658
wyn:WyndhamVacationResortsAsiaPacificMember
wyn:ThreeOneToSixZeroDaysMember
2018-12-31
0001361658
us-gaap:FicoScoreGreaterThan700Member
wyn:CurrentMember
2019-06-30
0001361658
wyn:NineOneToOneTwoZeroDaysMember
2019-06-30
0001361658
wyn:FicoScoresNoScoreMember
wyn:ThreeOneToSixZeroDaysMember
2018-12-31
0001361658
us-gaap:FicoScore600To699Member
2018-12-31
0001361658
us-gaap:FicoScore600To699Member
wyn:NineOneToOneTwoZeroDaysMember
2018-12-31
0001361658
us-gaap:FicoScoreGreaterThan700Member
wyn:NineOneToOneTwoZeroDaysMember
2019-06-30
0001361658
wyn:CurrentMember
2019-06-30
0001361658
wyn:FicoScoresLessThan600Member
wyn:CurrentMember
2018-12-31
0001361658
wyn:WyndhamVacationResortsAsiaPacificMember
wyn:SixOneToNineZeroDaysMember
2019-06-30
0001361658
us-gaap:FicoScore600To699Member
wyn:SixOneToNineZeroDaysMember
2019-06-30
0001361658
us-gaap:FicoScore600To699Member
wyn:ThreeOneToSixZeroDaysMember
2018-12-31
0001361658
wyn:WyndhamVacationResortsAsiaPacificMember
wyn:NineOneToOneTwoZeroDaysMember
2018-12-31
0001361658
wyn:FicoScoresNoScoreMember
wyn:CurrentMember
2019-06-30
0001361658
wyn:FicoScoresLessThan600Member
wyn:CurrentMember
2019-06-30
0001361658
wyn:FicoScoresNoScoreMember
2019-06-30
0001361658
us-gaap:FicoScoreGreaterThan700Member
wyn:CurrentMember
2018-12-31
0001361658
wyn:SixOneToNineZeroDaysMember
2018-12-31
0001361658
wyn:FicoScoresNoScoreMember
wyn:NineOneToOneTwoZeroDaysMember
2019-06-30
0001361658
us-gaap:FicoScore600To699Member
wyn:CurrentMember
2019-06-30
0001361658
wyn:SixOneToNineZeroDaysMember
2019-06-30
0001361658
wyn:FicoScoresNoScoreMember
wyn:ThreeOneToSixZeroDaysMember
2019-06-30
0001361658
us-gaap:FicoScore600To699Member
wyn:SixOneToNineZeroDaysMember
2018-12-31
0001361658
us-gaap:FicoScoreGreaterThan700Member
wyn:NineOneToOneTwoZeroDaysMember
2018-12-31
0001361658
wyn:FicoScoresNoScoreMember
wyn:SixOneToNineZeroDaysMember
2018-12-31
0001361658
wyn:FicoScoresLessThan600Member
wyn:NineOneToOneTwoZeroDaysMember
2018-12-31
0001361658
wyn:WyndhamVacationResortsAsiaPacificMember
wyn:CurrentMember
2018-12-31
0001361658
wyn:NineOneToOneTwoZeroDaysMember
2018-12-31
0001361658
wyn:FicoScoresLessThan600Member
wyn:SixOneToNineZeroDaysMember
2018-12-31
0001361658
us-gaap:FicoScore600To699Member
2019-06-30
0001361658
wyn:WyndhamVacationResortsAsiaPacificMember
2018-12-31
0001361658
wyn:FicoScoresNoScoreMember
wyn:CurrentMember
2018-12-31
0001361658
us-gaap:FicoScoreGreaterThan700Member
wyn:SixOneToNineZeroDaysMember
2019-06-30
0001361658
wyn:ThreeOneToSixZeroDaysMember
2019-06-30
0001361658
wyn:FicoScoresLessThan600Member
wyn:SixOneToNineZeroDaysMember
2019-06-30
0001361658
wyn:CurrentMember
2018-12-31
0001361658
wyn:WyndhamVacationResortsAsiaPacificMember
2019-06-30
0001361658
wyn:FicoScoresNoScoreMember
2018-12-31
0001361658
us-gaap:FicoScoreGreaterThan700Member
wyn:ThreeOneToSixZeroDaysMember
2018-12-31
0001361658
wyn:WyndhamVacationResortsAsiaPacificMember
wyn:CurrentMember
2019-06-30
0001361658
wyn:ThreeOneToSixZeroDaysMember
2018-12-31
0001361658
us-gaap:FicoScoreGreaterThan700Member
2019-06-30
0001361658
us-gaap:FicoScore600To699Member
wyn:NineOneToOneTwoZeroDaysMember
2019-06-30
0001361658
us-gaap:FicoScoreGreaterThan700Member
wyn:SixOneToNineZeroDaysMember
2018-12-31
0001361658
wyn:WyndhamVacationResortsAsiaPacificMember
wyn:SixOneToNineZeroDaysMember
2018-12-31
0001361658
wyn:FicoScoresNoScoreMember
wyn:NineOneToOneTwoZeroDaysMember
2018-12-31
0001361658
wyn:FicoScoresLessThan600Member
2019-06-30
0001361658
wyn:FicoScoresLessThan600Member
2018-12-31
0001361658
wyn:FicoScoresNoScoreMember
wyn:SixOneToNineZeroDaysMember
2019-06-30
0001361658
wyn:FicoScoresLessThan600Member
wyn:ThreeOneToSixZeroDaysMember
2019-06-30
0001361658
us-gaap:FicoScore600To699Member
wyn:CurrentMember
2018-12-31
0001361658
wyn:WyndhamVacationResortsAsiaPacificMember
wyn:NineOneToOneTwoZeroDaysMember
2019-06-30
0001361658
wyn:AustinTexasMember
2018-01-01
2018-06-30
0001361658
wyn:LasVegasNevadaInventorySaleMember
2019-01-01
2019-06-30
0001361658
wyn:AustinTexasMember
2018-06-30
0001361658
wyn:AustinTexasMember
2017-12-31
0001361658
wyn:OtherInventorySalesMember
2019-06-30
0001361658
wyn:OtherInventorySalesMember
2019-01-01
2019-06-30
0001361658
wyn:AustinTexasMember
2018-12-31
0001361658
wyn:LasVegasNevadaInventorySaleMember
2018-01-01
2018-06-30
0001361658
wyn:LasVegasNevadaInventorySaleMember
2019-06-30
0001361658
wyn:AustinTexasMember
2019-01-01
2019-06-30
0001361658
wyn:OtherInventorySalesMember
2017-12-31
0001361658
wyn:AvonColoradoInventorySaleMember
2019-01-01
2019-06-30
0001361658
wyn:AvonColoradoInventorySaleMember
2017-12-31
0001361658
wyn:LasVegasNevadaInventorySaleMember
2018-06-30
0001361658
wyn:AustinTexasMember
2019-06-30
0001361658
wyn:OtherInventorySalesMember
2018-01-01
2018-06-30
0001361658
wyn:AvonColoradoInventorySaleMember
2018-12-31
0001361658
wyn:LasVegasNevadaInventorySaleMember
2017-12-31
0001361658
wyn:OtherInventorySalesMember
2018-12-31
0001361658
wyn:AvonColoradoInventorySaleMember
2018-06-30
0001361658
wyn:AvonColoradoInventorySaleMember
2018-01-01
2018-06-30
0001361658
wyn:AvonColoradoInventorySaleMember
2019-06-30
0001361658
wyn:OtherInventorySalesMember
2018-06-30
0001361658
wyn:LasVegasNevadaInventorySaleMember
2018-12-31
0001361658
wyn:LasVegasNevadaandSt.ThomasU.S.VirginIslandInventorySalesMember
2019-01-01
2019-06-30
0001361658
wyn:VacationOwnershipInventorySalesMember
2013-01-01
2013-12-31
0001361658
us-gaap:OtherCapitalizedPropertyPlantAndEquipmentMember
2019-06-30
0001361658
us-gaap:BuildingMember
2019-06-30
0001361658
us-gaap:SoftwareAndSoftwareDevelopmentCostsMember
2019-06-30
0001361658
us-gaap:FurnitureAndFixturesMember
2018-12-31
0001361658
us-gaap:OtherCapitalizedPropertyPlantAndEquipmentMember
2018-12-31
0001361658
us-gaap:SoftwareAndSoftwareDevelopmentCostsMember
2018-12-31
0001361658
us-gaap:LandMember
2019-06-30
0001361658
us-gaap:ConstructionInProgressMember
2019-06-30
0001361658
us-gaap:LandMember
2018-12-31
0001361658
us-gaap:ConstructionInProgressMember
2018-12-31
0001361658
us-gaap:FurnitureAndFixturesMember
2019-06-30
0001361658
us-gaap:BuildingMember
2018-12-31
0001361658
wyn:NonrecoursebankconduitfacilityMember
2019-06-30
0001361658
us-gaap:RevolvingCreditFacilityMember
wyn:SecuredRevolvingCreditFacilitydueMay2023Member
us-gaap:LineOfCreditMember
2019-06-30
0001361658
wyn:NonRecourseVacationOwnershipDebtMember
2019-06-30
0001361658
wyn:A5.75securednotesdueApril2027Domain
us-gaap:InterestRateSwapMember
2019-06-30
0001361658
wyn:A4.25SecuredNotesDueMarch2020Member
us-gaap:LongTermDebtMember
2019-06-30
0001361658
wyn:TermNotesMember
2018-12-31
0001361658
wyn:A5.75securednotesdueApril2027Domain
us-gaap:LongTermDebtMember
2018-12-31
0001361658
wyn:NonRecourseVacationOwnershipDebtMember
2019-04-01
2019-06-30
0001361658
wyn:A5.75securednotesdueApril2027Domain
us-gaap:LongTermDebtMember
2019-06-30
0001361658
wyn:A5.75securednotesdueApril2027Domain
2017-03-31
0001361658
us-gaap:LongTermDebtMember
2019-01-01
2019-06-30
0001361658
us-gaap:InterestRateSwapMember
2019-06-30
0001361658
wyn:NonRecourseVacationOwnershipDebtMember
2018-01-01
2018-06-30
0001361658
us-gaap:LongTermDebtMember
2018-04-01
2018-06-30
0001361658
us-gaap:LongTermDebtMember
2018-01-01
2018-06-30
0001361658
us-gaap:LongTermDebtMember
2019-04-01
2019-06-30
0001361658
wyn:A3.90SecuredNotesDueMarch2023Member
us-gaap:LongTermDebtMember
2019-06-30
0001361658
us-gaap:LongTermDebtMember
2019-06-30
0001361658
wyn:SierraTimeshare20191FundingLLCLLCMember
2019-03-20
0001361658
wyn:NonRecourseVacationOwnershipDebtMember
2018-04-01
2018-06-30
0001361658
wyn:TermNotesMember
2019-06-30
0001361658
wyn:NonRecourseVacationOwnershipDebtMember
2019-01-01
2019-06-30
0001361658
wyn:CreditAgreementMember
wyn:BankofAmericaN.A.Member
2019-06-30
0001361658
wyn:A6.35securednotesdueOctober2025Domain
us-gaap:LongTermDebtMember
2019-06-30
0001361658
wyn:A5.75securednotesdueApril2027Domain
us-gaap:LongTermDebtMember
2017-03-31
0001361658
wyn:A6.35securednotesdueOctober2025Domain
us-gaap:LongTermDebtMember
2018-12-31
0001361658
wyn:A800millionbankconduitfacilitydueAugust2021Member
wyn:NonrecoursebankconduitfacilityMember
2019-06-30
0001361658
wyn:NonRecourseVacationOwnershipDebtMember
2018-12-31
0001361658
wyn:A3.90SecuredNotesDueMarch2023Member
us-gaap:LongTermDebtMember
2018-12-31
0001361658
us-gaap:RevolvingCreditFacilityMember
wyn:SecuredRevolvingCreditFacilitydueMay2023Member
us-gaap:LineOfCreditMember
2019-01-01
2019-06-30
0001361658
us-gaap:LongTermDebtMember
2018-12-31
0001361658
us-gaap:InterestRateSwapMember
2019-06-24
2019-06-24
0001361658
wyn:A5.40SecuredNotesDueApril2024Member
us-gaap:LongTermDebtMember
2018-12-31
0001361658
wyn:A800millionbankconduitfacilitydueAugust2021Member
wyn:NonrecoursebankconduitfacilityMember
2018-12-31
0001361658
wyn:A4.25SecuredNotesDueMarch2020Member
us-gaap:LongTermDebtMember
2018-12-31
0001361658
us-gaap:CapitalLeaseObligationsMember
us-gaap:LongTermDebtMember
2019-06-30
0001361658
wyn:A7.375SecuredNotesDueMarch2020Member
us-gaap:LongTermDebtMember
2019-06-30
0001361658
wyn:A5.625SecuredNotesDueMarch2021Member
us-gaap:LongTermDebtMember
2019-06-30
0001361658
wyn:A7.375SecuredNotesDueMarch2020Member
us-gaap:LongTermDebtMember
2018-12-31
0001361658
wyn:SecuredTermLoanBdueMarch2025Member
us-gaap:LongTermDebtMember
2018-12-31
0001361658
wyn:A5.40SecuredNotesDueApril2024Member
us-gaap:LongTermDebtMember
2019-06-30
0001361658
wyn:SecuredTermLoanBdueMarch2025Member
us-gaap:LongTermDebtMember
2019-06-30
0001361658
us-gaap:OtherDebtSecuritiesMember
us-gaap:LongTermDebtMember
2019-06-30
0001361658
us-gaap:RevolvingCreditFacilityMember
wyn:SecuredRevolvingCreditFacilitydueMay2023Member
us-gaap:LineOfCreditMember
2018-12-31
0001361658
wyn:A5.625SecuredNotesDueMarch2021Member
us-gaap:LongTermDebtMember
2018-12-31
0001361658
us-gaap:CapitalLeaseObligationsMember
us-gaap:LongTermDebtMember
2018-12-31
0001361658
us-gaap:OtherDebtSecuritiesMember
us-gaap:LongTermDebtMember
2018-12-31
0001361658
us-gaap:InterestRateSwapMember
2018-12-31
0001361658
wyn:A5.625SecuredNotesDueMarch2021Member
2019-06-30
0001361658
wyn:A3.90SecuredNotesDueMarch2023Member
us-gaap:InterestRateSwapMember
2019-06-30
0001361658
wyn:A5.75securednotesdueApril2027Domain
2019-06-30
0001361658
wyn:A7.375SecuredNotesDueMarch2020Member
2019-06-30
0001361658
wyn:A4.25SecuredNotesDueMarch2020Member
us-gaap:InterestRateSwapMember
2019-06-30
0001361658
wyn:A5.40SecuredNotesDueApril2024Member
2019-06-30
0001361658
wyn:A6.35securednotesdueOctober2025Domain
2019-06-30
0001361658
wyn:StThomasPropertyMember
us-gaap:VariableInterestEntityPrimaryBeneficiaryMember
2018-12-31
0001361658
wyn:MortgageNoteSpeMember
wyn:VactaionOwnershipNycPropertyMember
2018-12-31
0001361658
wyn:St.ThomasU.S.VirginIslandInventorySaleMember
2018-01-01
2018-06-30
0001361658
wyn:VIOSaintThomasMember
us-gaap:VariableInterestEntityPrimaryBeneficiaryMember
2017-12-31
0001361658
wyn:St.ThomasU.S.VirginIslandInventorySaleMember
2019-01-01
2019-06-30
0001361658
wyn:VacationOwnershipSpeMember
2018-12-31
0001361658
wyn:VIOSaintThomasMember
2017-10-01
2017-12-31
0001361658
wyn:VacationOwnershipSpeMember
2019-06-30
0001361658
wyn:VacationOwnershipSpeMember
us-gaap:VariableInterestEntityPrimaryBeneficiaryMember
2019-06-30
0001361658
wyn:VacationOwnershipSpeMember
us-gaap:VariableInterestEntityPrimaryBeneficiaryMember
2018-12-31
0001361658
us-gaap:EstimateOfFairValueFairValueDisclosureMember
2019-06-30
0001361658
us-gaap:CarryingReportedAmountFairValueDisclosureMember
2018-12-31
0001361658
us-gaap:EstimateOfFairValueFairValueDisclosureMember
2018-12-31
0001361658
us-gaap:CarryingReportedAmountFairValueDisclosureMember
2019-06-30
0001361658
us-gaap:ForeignExchangeContractMember
us-gaap:FairValueInputsLevel2Member
us-gaap:EstimateOfFairValueFairValueDisclosureMember
us-gaap:FairValueMeasurementsRecurringMember
2019-06-30
0001361658
wyn:PropertyandequipmentnetMember
2019-06-30
0001361658
us-gaap:DebtMember
2019-06-30
0001361658
us-gaap:OtherAssetsMember
2019-06-30
0001361658
us-gaap:OtherLiabilitiesMember
2019-06-30
0001361658
2018-01-01
2018-12-31
0001361658
us-gaap:SegmentDiscontinuedOperationsMember
2018-01-01
2018-12-31
0001361658
wyn:SeparationandRelatedCostsMember
2019-04-01
2019-06-30
0001361658
srt:MinimumMember
2019-06-30
0001361658
srt:MaximumMember
2019-06-30
0001361658
us-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember
2019-01-01
0001361658
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember
2017-12-31
0001361658
us-gaap:AccumulatedOtherComprehensiveIncomeLossDerivativeQualifyingAsHedgeExcludedComponentIncludingPortionAttributableToNoncontrollingInterestMember
2018-01-01
2018-06-30
0001361658
us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember
2018-06-30
0001361658
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember
2018-01-01
2018-06-30
0001361658
us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember
2017-12-31
0001361658
us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember
2018-01-01
2018-06-30
0001361658
us-gaap:AccumulatedOtherComprehensiveIncomeLossDerivativeQualifyingAsHedgeExcludedComponentIncludingPortionAttributableToNoncontrollingInterestMember
2017-12-31
0001361658
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember
2018-06-30
0001361658
us-gaap:AccumulatedOtherComprehensiveIncomeLossDerivativeQualifyingAsHedgeExcludedComponentIncludingPortionAttributableToNoncontrollingInterestMember
2018-06-30
0001361658
2018-10-01
2018-12-31
0001361658
us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember
2018-12-31
0001361658
us-gaap:AccumulatedOtherComprehensiveIncomeLossDerivativeQualifyingAsHedgeExcludedComponentIncludingPortionAttributableToNoncontrollingInterestMember
2019-06-30
0001361658
us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember
2019-01-01
2019-06-30
0001361658
us-gaap:AccumulatedOtherComprehensiveIncomeLossDerivativeQualifyingAsHedgeExcludedComponentIncludingPortionAttributableToNoncontrollingInterestMember
2018-12-31
0001361658
us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember
2019-06-30
0001361658
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember
2019-01-01
2019-06-30
0001361658
us-gaap:AccumulatedOtherComprehensiveIncomeLossDerivativeQualifyingAsHedgeExcludedComponentIncludingPortionAttributableToNoncontrollingInterestMember
2019-01-01
2019-06-30
0001361658
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember
2018-12-31
0001361658
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember
2019-06-30
0001361658
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember
2018-01-01
2018-06-30
0001361658
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
us-gaap:AccumulatedOtherComprehensiveIncomeLossDerivativeQualifyingAsHedgeExcludedComponentIncludingPortionAttributableToNoncontrollingInterestMember
2018-04-01
2018-06-30
0001361658
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
us-gaap:AccumulatedOtherComprehensiveIncomeLossDerivativeQualifyingAsHedgeExcludedComponentIncludingPortionAttributableToNoncontrollingInterestMember
2019-04-01
2019-06-30
0001361658
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember
2019-04-01
2019-06-30
0001361658
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
us-gaap:AccumulatedOtherComprehensiveIncomeLossDerivativeQualifyingAsHedgeExcludedComponentIncludingPortionAttributableToNoncontrollingInterestMember
2019-01-01
2019-06-30
0001361658
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember
2018-04-01
2018-06-30
0001361658
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember
2018-01-01
2018-06-30
0001361658
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
us-gaap:AccumulatedOtherComprehensiveIncomeLossDerivativeQualifyingAsHedgeExcludedComponentIncludingPortionAttributableToNoncontrollingInterestMember
2018-01-01
2018-06-30
0001361658
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember
2019-04-01
2019-06-30
0001361658
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember
2019-01-01
2019-06-30
0001361658
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember
2018-04-01
2018-06-30
0001361658
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember
2019-01-01
2019-06-30
0001361658
us-gaap:EmployeeStockOptionMember
2019-06-30
0001361658
us-gaap:EmployeeStockOptionMember
2019-01-01
2019-06-30
0001361658
us-gaap:PerformanceSharesMember
2019-06-30
0001361658
us-gaap:RestrictedStockUnitsRSUMember
2019-01-01
2019-06-30
0001361658
us-gaap:PerformanceSharesMember
2019-01-01
2019-06-30
0001361658
us-gaap:RestrictedStockUnitsRSUMember
2019-06-30
0001361658
wyn:RestrictedStockUnitsandStockOptionsMember
2019-01-01
2019-06-30
0001361658
us-gaap:SegmentDiscontinuedOperationsMember
2018-04-01
2018-06-30
0001361658
wyn:SeparationandRelatedCostsMember
2019-01-01
2019-06-30
0001361658
us-gaap:StockAppreciationRightsSARSMember
2019-06-30
0001361658
wyn:SeparationandRelatedCostsMember
2018-01-01
2018-06-30
0001361658
wyn:SeparationandRelatedCostsMember
2018-04-01
2018-06-30
0001361658
us-gaap:SegmentDiscontinuedOperationsMember
2018-01-01
2018-06-30
0001361658
us-gaap:StockAppreciationRightsSARSMember
2019-01-01
2019-06-30
0001361658
us-gaap:EmployeeStockOptionMember
2018-12-31
0001361658
us-gaap:PerformanceSharesMember
2018-12-31
0001361658
us-gaap:RestrictedStockUnitsRSUMember
2018-12-31
0001361658
us-gaap:StockAppreciationRightsSARSMember
2018-12-31
0001361658
us-gaap:OperatingSegmentsMember
wyn:VacationOwnershipMember
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
2018-12-31
0001361658
us-gaap:MaterialReconcilingItemsMember
2019-06-30
0001361658
us-gaap:MaterialReconcilingItemsMember
2018-12-31
0001361658
us-gaap:CorporateNonSegmentMember
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:ExchangeAndRentalsMember
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
wyn:VacationOwnershipMember
2018-12-31
0001361658
us-gaap:OperatingSegmentsMember
wyn:ExchangeAndRentalsMember
2018-12-31
0001361658
us-gaap:CorporateNonSegmentMember
2018-12-31
0001361658
us-gaap:OperatingSegmentsMember
2019-06-30
0001361658
us-gaap:GeneralAndAdministrativeExpenseMember
2019-04-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
2019-01-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
2018-04-01
2018-06-30
0001361658
us-gaap:GeneralAndAdministrativeExpenseMember
2019-01-01
2019-06-30
0001361658
us-gaap:OperatingSegmentsMember
2019-04-01
2019-06-30
0001361658
us-gaap:GeneralAndAdministrativeExpenseMember
2018-01-01
2018-06-30
0001361658
us-gaap:OperatingSegmentsMember
2018-01-01
2018-06-30
0001361658
us-gaap:GeneralAndAdministrativeExpenseMember
2018-04-01
2018-06-30
0001361658
us-gaap:SegmentContinuingOperationsMember
2018-01-01
2018-06-30
0001361658
us-gaap:SegmentContinuingOperationsMember
2018-04-01
2018-06-30
0001361658
us-gaap:SegmentContinuingOperationsMember
2019-04-01
2019-06-30
0001361658
us-gaap:SegmentContinuingOperationsMember
2019-01-01
2019-06-30
0001361658
us-gaap:EmployeeSeveranceMember
2019-01-01
2019-06-30
0001361658
wyn:RestructuringCostsGrossMember
2019-01-01
2019-06-30
0001361658
us-gaap:EmployeeSeveranceMember
2019-06-30
0001361658
us-gaap:EmployeeSeveranceMember
2018-12-31
0001361658
us-gaap:EmployeeSeveranceMember
wyn:RestructuringPlan2018Member
2019-01-01
2019-06-30
0001361658
us-gaap:EmployeeSeveranceMember
wyn:RestructuringPlan2018Member
us-gaap:CorporateAndOtherMember
2018-10-01
2018-12-31
0001361658
wyn:RestructuringPlan2018Member
2018-10-01
2018-12-31
0001361658
us-gaap:EmployeeSeveranceMember
wyn:RestructuringPlan2018Member
2019-06-30
0001361658
us-gaap:EmployeeSeveranceMember
wyn:RestructuringPlan2018Member
wyn:VacationOwnershipMember
2018-10-01
2018-12-31
0001361658
us-gaap:EmployeeSeveranceMember
wyn:RestructuringPlan2018Member
us-gaap:CorporateAndOtherMember
2019-01-01
2019-06-30
0001361658
us-gaap:FacilityClosingMember
2019-06-30
0001361658
us-gaap:EmployeeSeveranceMember
wyn:RestructuringPlan2018Member
wyn:VacationOwnershipMember
2019-01-01
2019-06-30
0001361658
us-gaap:EmployeeSeveranceMember
wyn:RestructuringPlan2018Member
wyn:ExchangeAndRentalsMember
2018-10-01
2018-12-31
0001361658
us-gaap:EmployeeSeveranceMember
wyn:RestructuringPlan2018Member
2018-01-01
2018-12-31
0001361658
srt:AffiliatedEntityMember
2019-01-01
2019-06-30
0001361658
wyn:WyndhamHotelsAndResortsInc.Member
wyn:CompassIVLimitedMember
us-gaap:FinancialGuaranteeMember
wyn:SaleOfEuropeanVacationRentalBusinessMember
srt:AffiliatedEntityMember
2019-06-30
0001361658
wyn:BritishTravelAssociationandRegulatoryAuthoritiesMember
2019-01-01
2019-01-31
0001361658
wyn:SaleOfEuropeanVacationRentalBusinessMember
srt:AffiliatedEntityMember
2018-04-01
2018-06-30
0001361658
us-gaap:IndemnificationGuaranteeMember
wyn:SaleOfEuropeanVacationRentalBusinessMember
srt:AffiliatedEntityMember
2019-06-30
0001361658
wyn:TransactionServiceAgreementMember
srt:AffiliatedEntityMember
2019-01-01
2019-06-30
0001361658
wyn:WyndhamHotelsAndResortsInc.Member
us-gaap:OtherAssetsMember
us-gaap:IndemnificationGuaranteeMember
wyn:SaleOfEuropeanVacationRentalBusinessMember
srt:AffiliatedEntityMember
2019-06-30
0001361658
wyn:TransactionServiceAgreementMember
srt:AffiliatedEntityMember
2018-04-01
2018-06-30
0001361658
srt:AffiliatedEntityMember
2018-01-01
2018-12-31
0001361658
us-gaap:FinancialGuaranteeMember
wyn:SaleOfEuropeanVacationRentalBusinessMember
srt:AffiliatedEntityMember
2019-06-30
0001361658
wyn:BritishTravelAssociationandRegulatoryAuthoritiesMember
2019-06-30
0001361658
wyn:BarclaysBankPLCMember
wyn:SaleOfEuropeanVacationRentalBusinessMember
srt:AffiliatedEntityMember
2018-06-30
0001361658
wyn:SeparationandRelatedCostsMember
wyn:TransactionServiceAgreementMember
srt:AffiliatedEntityMember
2019-04-01
2019-06-30
0001361658
wyn:SaleOfEuropeanVacationRentalBusinessMember
srt:AffiliatedEntityMember
2019-04-01
2019-06-30
0001361658
wyn:SaleOfEuropeanVacationRentalBusinessMember
srt:AffiliatedEntityMember
2019-01-01
2019-06-30
0001361658
us-gaap:AccruedLiabilitiesMember
wyn:SaleOfEuropeanVacationRentalBusinessMember
wyn:EuropeanvacationrentalsbusinessMember
2019-06-30
0001361658
wyn:RealogyMember
srt:AffiliatedEntityMember
2019-01-01
2019-06-30
0001361658
wyn:CendantMember
srt:AffiliatedEntityMember
2019-01-01
2019-06-30
0001361658
us-gaap:OtherInvestmentsMember
wyn:SaleOfEuropeanVacationRentalBusinessMember
wyn:EuropeanvacationrentalsbusinessMember
2019-06-30
0001361658
wyn:SeparationandRelatedCostsMember
wyn:TransactionServiceAgreementMember
srt:AffiliatedEntityMember
2019-01-01
2019-06-30
0001361658
srt:AffiliatedEntityMember
2019-06-30
0001361658
wyn:WyndhamHotelsAndResortsInc.Member
us-gaap:OtherAssetsMember
wyn:SaleOfEuropeanVacationRentalBusinessMember
wyn:EuropeanvacationrentalsbusinessMember
2019-06-30
0001361658
wyn:WyndhamHotelsAndResortsInc.Member
wyn:BritishTravelAssociationandRegulatoryAuthoritiesMember
us-gaap:FinancialGuaranteeMember
wyn:SaleOfEuropeanVacationRentalBusinessMember
srt:AffiliatedEntityMember
2019-06-30
0001361658
wyn:TransactionServiceAgreementMember
srt:AffiliatedEntityMember
2019-04-01
2019-06-30
0001361658
wyn:SaleOfEuropeanVacationRentalBusinessMember
srt:AffiliatedEntityMember
2019-06-30
0001361658
wyn:TransactionServiceAgreementMember
srt:AffiliatedEntityMember
2018-01-01
2018-06-30
0001361658
wyn:SaleOfEuropeanVacationRentalBusinessMember
srt:AffiliatedEntityMember
2018-01-01
2018-06-30
0001361658
wyn:WyndhamHotelsAndResortsInc.Member
srt:AffiliatedEntityMember
2019-06-30
0001361658
us-gaap:OfficerMember
2019-06-30
0001361658
wyn:NorthAmericanVacationRentalsMember
us-gaap:ScenarioForecastMember
us-gaap:SubsequentEventMember
2019-07-30
2019-07-30
0001361658
wyn:SierraTimeshare20192Member
us-gaap:SubsequentEventMember
2019-07-24
0001361658
srt:MaximumMember
wyn:NorthAmericanVacationRentalsMember
us-gaap:ScenarioForecastMember
us-gaap:SubsequentEventMember
2019-07-30
2019-07-30
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:pure
xbrli:shares
wyn:segment
wyn:employee
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 10-Q
☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2019
OR
☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission file number 001-32876
WYNDHAM DESTINATIONS, INC.
(Exact Name of Registrant as Specified in Its Charter)
|
| | | |
Delaware | | 20-0052541 |
(State or Other Jurisdiction of Incorporation or Organization) | | (I.R.S. Employer Identification No.) |
| | | |
6277 Sea Harbor Drive | | 32821 |
Orlando, | Florida | | (Zip Code) |
(Address of Principal Executive Offices) | | |
(407) 626-5200
(Registrant’s Telephone Number, Including Area Code)
None
(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)
Securities registered pursuant to Section 12(b) of the Act:
|
| | |
Title of each class | Trading Symbol | Name of each exchange on which registered |
Common Stock | WYND | New York Stock Exchange |
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
|
| | | | | | | |
Large accelerated filer | ☑ | | | | | Accelerated filer | ☐ |
Non-accelerated filer | ☐ | | | |
| | | | | | Smaller reporting company | ☐ |
| | | | | | Emerging growth company | ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the last practicable date:
92,225,966 shares of common stock outstanding as of June 30, 2019.
Table of Contents
|
| | |
| | Page |
PART I | FINANCIAL INFORMATION | |
Item 1. | | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
Item 2. | | |
| | |
Item 3. | | |
Item 4. | | |
PART II | OTHER INFORMATION | |
Item 1. | | |
Item 1A. | | |
Item 2. | | |
Item 3. | | |
Item 4. | | |
Item 5. | | |
Item 6. | | |
| | |
GLOSSARY OF TERMS
The following terms and acronyms appear in the text of this report and have the definitions indicated below:
|
| |
Adjusted EBITDA | A non-GAAP measure, defined by the Company as Net income before Depreciation and amortization, Interest expense (excluding Consumer financing interest), Early extinguishment of debt, Interest income (excluding Consumer financing revenues) and Income taxes, each of which is presented on the Condensed Consolidated Statements of Income. Adjusted EBITDA also excludes stock-based compensation costs, separation and restructuring costs, transaction costs, impairments, and items that meet the conditions of unusual and/or infrequent. |
AOCL | Accumulated Other Comprehensive Loss |
Board | Board of Directors |
Buyer | Compass IV Limited, an affiliate of Platinum Equity, LLC |
Company | Wyndham Destinations, Inc. and its subsidiaries |
EBITDA | Earnings Before Interest, Income Taxes and Depreciation/Amortization |
EPS | Earnings Per Share |
Exchange Act | Securities Exchange Act of 1934 |
FASB | Financial Accounting Standards Board |
FICO | Fair Isaac Corporation |
GAAP | Generally Accepted Accounting Principles in the United States |
La Quinta | La Quinta Holdings, Inc. |
LIBOR | London Interbank Offered Rate |
NQ | Non-Qualified stock options |
PCAOB | Public Company Accounting Oversight Board |
PSU | Performance-vested restricted Stock Units |
RSU | Restricted Stock Unit |
SEC | Securities and Exchange Commission |
SPE | Special Purpose Entity |
SOFR | Secured Overnight Financing Rate |
Spin-off | Spin-off of Wyndham Hotels & Resorts, Inc. |
SSAR | Stock-Settled Appreciation Rights |
U.S. | United States of America |
Vacasa | Vacasa LLC |
VIE | Variable Interest Entity |
VOI | Vacation Ownership Interest |
VPG | Volume Per Guest |
Wyndham Hotels | Wyndham Hotels & Resorts, Inc. |
Wyndham Destinations | Wyndham Destinations, Inc. |
Wyndham Worldwide | Wyndham Worldwide Corporation |
PART I — FINANCIAL INFORMATION
Item 1. Condensed Consolidated Financial Statements (Unaudited).
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Stockholders and Board of Directors of
Wyndham Destinations, Inc.
Results of Review of Interim Financial Statements
We have reviewed the accompanying condensed consolidated balance sheet of Wyndham Destinations, Inc. and subsidiaries (the "Company") as of June 30, 2019, the related condensed consolidated statements of income, comprehensive income and (deficit)/equity, for the three-month and six-month periods ended June 30, 2019 and 2018, and of cash flows for the six-month periods ended June 30, 2019 and 2018, and the related notes (collectively referred to as the "interim financial statements"). Based on our reviews, we are not aware of any material modifications that should be made to the accompanying interim financial statements for them to be in conformity with accounting principles generally accepted in the United States of America.
We have previously audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated balance sheet of the Company as of December 31, 2018, and the related consolidated statements of income, comprehensive income, cash flows and equity for the year then ended (not presented herein); and in our report dated February 26, 2019, we expressed an unqualified opinion on those consolidated financial statements. In our opinion, the information set forth in the accompanying condensed consolidated balance sheet as of December 31, 2018, is fairly stated, in all material respects, in relation to the consolidated balance sheet from which it has been derived.
Basis for Review Results
The interim financial statements are the responsibility of the Company's management. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our reviews in accordance with standards of the PCAOB. A review of interim financial statements consists principally of applying analytical procedures and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with the standards of the PCAOB, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion.
/s/ Deloitte & Touche LLP
Tampa, FL
July 30, 2019
WYNDHAM DESTINATIONS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In millions, except per share amounts)
(Unaudited)
|
| | | | | | | | | | | | | | | |
| Three Months Ended | | Six Months Ended |
| June 30, | | June 30, |
| 2019 | | 2018 | | 2019 | | 2018 |
Net revenues | | | | | | | |
Vacation ownership interest sales | $ | 481 |
| | $ | 462 |
| | $ | 856 |
| | $ | 820 |
|
Service and membership fees | 409 |
| | 409 |
| | 815 |
| | 828 |
|
Consumer financing | 128 |
| | 120 |
| | 253 |
| | 237 |
|
Other | 21 |
| | 16 |
| | 33 |
| | 29 |
|
Net revenues | 1,039 |
| | 1,007 |
| | 1,957 |
| | 1,914 |
|
Expenses | | | | | | | |
Operating | 421 |
| | 418 |
| | 818 |
| | 821 |
|
Cost of vacation ownership interests | 50 |
| | 47 |
| | 81 |
| | 78 |
|
Consumer financing interest | 26 |
| | 20 |
| | 52 |
| | 39 |
|
Marketing | 170 |
| | 155 |
| | 317 |
| | 286 |
|
General and administrative | 123 |
| | 133 |
| | 251 |
| | 286 |
|
Separation and related costs | 22 |
| | 133 |
| | 36 |
| | 163 |
|
Restructuring | 1 |
| | — |
| | 4 |
| | — |
|
Depreciation and amortization | 28 |
| | 36 |
| | 59 |
| | 73 |
|
Total expenses | 841 |
| | 942 |
| | 1,618 |
| | 1,746 |
|
Operating income | 198 |
| | 65 |
| | 339 |
| | 168 |
|
Other (income), net | (2 | ) | | (5 | ) | | (12 | ) | | (11 | ) |
Interest expense | 40 |
| | 46 |
| | 82 |
| | 91 |
|
Interest (income) | (2 | ) | | (2 | ) | | (4 | ) | | (3 | ) |
Income before income taxes | 162 |
| | 26 |
| | 273 |
| | 91 |
|
Provision for income taxes | 44 |
| | 38 |
| | 74 |
| | 62 |
|
Net income/(loss) from continuing operations | 118 |
| | (12 | ) | | 199 |
| | 29 |
|
Loss from operations of discontinued businesses, net of income taxes | — |
| | (42 | ) | | — |
| | (49 | ) |
Gain on disposal of discontinued businesses, net of income taxes | 6 |
| | 432 |
| | 5 |
| | 432 |
|
Net income attributable to Wyndham Destinations shareholders | $ | 124 |
| | $ | 378 |
| | $ | 204 |
| | $ | 412 |
|
| | | | | | | |
Basic earnings per share | | | | | | | |
Continuing operations | $ | 1.27 |
| | $ | (0.12 | ) | | $ | 2.12 |
| | $ | 0.29 |
|
Discontinued operations | 0.06 |
| | 3.90 |
| | 0.05 |
| | 3.83 |
|
| $ | 1.33 |
| | $ | 3.78 |
| | $ | 2.17 |
| | $ | 4.12 |
|
Diluted earnings per share | | | | | | | |
Continuing operations | $ | 1.26 |
| | $ | (0.12 | ) | | $ | 2.12 |
| | $ | 0.29 |
|
Discontinued operations | 0.06 |
| | 3.89 |
| | 0.05 |
| | 3.82 |
|
| $ | 1.32 |
| | $ | 3.77 |
| | $ | 2.17 |
| | $ | 4.11 |
|
See Notes to Condensed Consolidated Financial Statements.
4
WYNDHAM DESTINATIONS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In millions)
(Unaudited)
|
| | | | | | | | | | | | | | | |
| Three Months Ended | | Six Months Ended |
| June 30, | | June 30, |
| 2019 | | 2018 | | 2019 | | 2018 |
Net income attributable to Wyndham Destinations shareholders | $ | 124 |
| | $ | 378 |
| | $ | 204 |
| | $ | 412 |
|
Other comprehensive income, net of tax | | | | | | | |
Foreign currency translation adjustments | (1 | ) | | (33 | ) | | 1 |
| | (19 | ) |
Unrealized gain on cash flow hedges | — |
| | 1 |
| | — |
| | — |
|
Defined benefit pension plans | — |
| | 3 |
| | — |
| | 4 |
|
Other comprehensive (loss)/income, net of tax | (1 | ) | | (29 | ) | | 1 |
| | (15 | ) |
Comprehensive income | $ | 123 |
| | $ | 349 |
| | $ | 205 |
| | $ | 397 |
|
See Notes to Condensed Consolidated Financial Statements.
5
WYNDHAM DESTINATIONS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions, except share data)
(Unaudited)
|
| | | | | | | |
| June 30, 2019 | | December 31, 2018 |
Assets | | | |
Cash and cash equivalents | $ | 257 |
| | $ | 218 |
|
Restricted cash (VIE - $118 as of 2019 and $120 as of 2018) | 152 |
| | 155 |
|
Trade receivables, net | 140 |
| | 121 |
|
Vacation ownership contract receivables, net (VIE - $2,916 as of 2019 and $2,883 as of 2018) | 3,048 |
| | 3,037 |
|
Inventory | 1,216 |
| | 1,224 |
|
Prepaid expenses | 195 |
| | 153 |
|
Property and equipment, net | 715 |
| | 712 |
|
Goodwill | 922 |
| | 922 |
|
Other intangibles, net | 105 |
| | 109 |
|
Other assets | 444 |
| | 304 |
|
Assets of held-for-sale business | 272 |
| | 203 |
|
Total assets | $ | 7,466 |
| | $ | 7,158 |
|
Liabilities and (deficit) | | | |
Accounts payable | $ | 81 |
| | $ | 66 |
|
Accrued expenses and other liabilities | 949 |
| | 1,004 |
|
Deferred income | 554 |
| | 518 |
|
Non-recourse vacation ownership debt (VIE) | 2,374 |
| | 2,357 |
|
Debt | 3,058 |
| | 2,881 |
|
Deferred income taxes | 761 |
| | 736 |
|
Liabilities of held-for-sale business | 249 |
| | 165 |
|
Total liabilities | 8,026 |
| | 7,727 |
|
Commitments and contingencies (Note 16) |
| |
|
Stockholders' (deficit): | | | |
Preferred stock, $.01 par value, authorized 6,000,000 shares, none issued and outstanding | — |
| | — |
|
Common stock, $.01 par value, 600,000,000 shares authorized, 220,401,065 issued as of 2019 and 220,120,808 as of 2018 | 2 |
| | 2 |
|
Treasury stock, at cost – 128,093,823 shares as of 2019 and 125,137,857 shares as of 2018 | (6,168 | ) | | (6,043 | ) |
Additional paid-in capital | 4,094 |
| | 4,077 |
|
Retained earnings | 1,558 |
| | 1,442 |
|
Accumulated other comprehensive loss | (51 | ) | | (52 | ) |
Total stockholders’ (deficit) | (565 | ) | | (574 | ) |
Noncontrolling interest | 5 |
| | 5 |
|
Total (deficit) | (560 | ) | | (569 | ) |
Total liabilities and (deficit) | $ | 7,466 |
| | $ | 7,158 |
|
See Notes to Condensed Consolidated Financial Statements.
6
WYNDHAM DESTINATIONS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
|
| | | | | | | |
| Six Months Ended |
| June 30, |
| 2019 | | 2018 |
Operating activities | | | |
Net income | $ | 204 |
| | $ | 412 |
|
Loss from operations of discontinued businesses, net of income taxes | — |
| | 49 |
|
Gain on disposal of discontinued businesses, net of income taxes | (5 | ) | | (432 | ) |
Adjustments to reconcile net income to net cash provided by operating activities: | | | |
Depreciation and amortization | 59 |
| | 73 |
|
Provision for loan losses | 238 |
| | 218 |
|
Deferred income taxes | 27 |
| | 74 |
|
Stock-based compensation | 12 |
| | 109 |
|
Asset impairments | 10 |
| | 9 |
|
Non-cash lease expense | 15 |
| | — |
|
Non-cash interest | 10 |
| | 8 |
|
Net change in assets and liabilities, excluding the impact of acquisitions and dispositions: | | | |
Trade receivables | (9 | ) | | (28 | ) |
Vacation ownership contract receivables | (251 | ) | | (233 | ) |
Inventory | (31 | ) | | (64 | ) |
Deferred income | 28 |
| | 42 |
|
Accounts payable, accrued expenses, prepaid expenses, other assets and other liabilities | (52 | ) | | (145 | ) |
Other, net | 11 |
| | 1 |
|
Net cash provided by operating activities - continuing operations | 266 |
| | 93 |
|
Net cash (used in)/provided by operating activities - discontinued operations | (1 | ) | | 212 |
|
Net cash provided by operating activities | 265 |
| | 305 |
|
Investing activities | | | |
Property and equipment additions | (50 | ) | | (41 | ) |
Net assets acquired, net of cash acquired, and acquisition-related payments | — |
| | (5 | ) |
Proceeds from asset sales | 6 |
| | — |
|
Other, net | (1 | ) | | (6 | ) |
Cash used in investing activities - continuing operations | (45 | ) | | (52 | ) |
Cash used in investing activities - discontinued operations | (22 | ) | | (672 | ) |
Net cash used in investing activities | (67 | ) | | (724 | ) |
Financing activities | | | |
Proceeds from non-recourse vacation ownership debt | 913 |
| | 924 |
|
Principal payments on non-recourse vacation ownership debt | (896 | ) | | (931 | ) |
Proceeds from debt | 1,350 |
| | 2,281 |
|
Principal payments on debt | (1,196 | ) | | (2,491 | ) |
Repayments of commercial paper, net | — |
| | (147 | ) |
Proceeds from notes issued and term loan | — |
| | 300 |
|
Repayment of notes | (2 | ) | | (789 | ) |
Repayments of vacation ownership inventory arrangement | (7 | ) | | (7 | ) |
Dividends to shareholders | (84 | ) | | (114 | ) |
Cash transferred to Wyndham Hotels related to spin-off | (69 | ) | | (495 | ) |
Proceeds from issuance of common stock | 6 |
| | — |
|
Repurchase of common stock | (125 | ) | | (123 | ) |
Debt issuance costs | (8 | ) | | (9 | ) |
Net share settlement of incentive equity awards | (1 | ) | | (67 | ) |
Other, net | (2 | ) | | (2 | ) |
Cash used in financing activities - continuing operations | (121 | ) | | (1,670 | ) |
Cash provided by financing activities - discontinued operations | — |
| | 2,066 |
|
Net cash (used in)/provided by financing activities | (121 | ) | | 396 |
|
Effect of changes in exchange rates on cash, cash equivalents and restricted cash | 2 |
| | (6 | ) |
Net change in cash, cash equivalents and restricted cash | 79 |
| | (29 | ) |
Cash, cash equivalents and restricted cash, beginning of period | 404 |
| | 416 |
|
Cash, cash equivalents and restricted cash, end of period | 483 |
| | 387 |
|
Less: Restricted cash | 152 |
| | 232 |
|
Less: Cash and restricted cash included in assets of discontinued operations and held-for-sale business | 74 |
| | — |
|
Cash and cash equivalents | $ | 257 |
| | $ | 155 |
|
See Notes to Condensed Consolidated Financial Statements.
7
WYNDHAM DESTINATIONS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF (DEFICIT)/EQUITY
(In millions)
(Unaudited)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Shares Outstanding | | Common Stock | | Treasury Stock | | Additional Paid-in Capital | | Retained Earnings | | Accumulated Other Comprehensive (Loss)/Income | | Non-controlling Interest | | Total (Deficit) |
Balance as of December 31, 2018 | 95 |
| | $ | 2 |
| | $ | (6,043 | ) | | $ | 4,077 |
| | $ | 1,442 |
| | $ | (52 | ) | | $ | 5 |
| | $ | (569 | ) |
Net income | — |
| | — |
| | — |
| | — |
| | 80 |
| | — |
| | — |
| | 80 |
|
Other comprehensive income | — |
| | — |
| | — |
| | — |
| | — |
| | 2 |
| | — |
| | 2 |
|
Change in stock-based compensation | — |
| | — |
| | — |
| | 5 |
| | — |
| | — |
| | — |
| | 5 |
|
Repurchase of common stock | (1 | ) | | — |
| | (60 | ) | | — |
| | — |
| | — |
| | — |
| | (60 | ) |
Dividends ($0.45 per share) | — |
| | — |
| | — |
| | — |
| | (42 | ) | | — |
| | — |
| | (42 | ) |
Balance as of March 31, 2019 | 94 |
| | 2 |
| | (6,103 | ) | | 4,082 |
| | 1,480 |
| | (50 | ) | | 5 |
| | (584 | ) |
Net income | — |
| | — |
| | — |
| | — |
| | 124 |
| | — |
| | — |
| | 124 |
|
Other comprehensive loss | — |
| | — |
| | — |
| | — |
| | — |
| | (1 | ) | | — |
| | (1 | ) |
Net share settlement of stock-based compensation | — |
| | — |
| | — |
| | (1 | ) | | — |
| | — |
| | — |
| | (1 | ) |
Employee stock purchase program issuances | — |
| | — |
| | — |
| | 6 |
| | — |
| | — |
| | — |
| | 6 |
|
Change in stock-based compensation | — |
| | — |
| | — |
| | 7 |
| | — |
| | — |
| | — |
| | 7 |
|
Repurchase of common stock | (2 | ) | | — |
| | (65 | ) | | — |
| | — |
| | — |
| | — |
| | (65 | ) |
Dividends ($0.45 per share) | — |
| | — |
| | — |
| | — |
| | (43 | ) | | — |
| | — |
| | (43 | ) |
Distribution for separation of Wyndham Hotels and adjustments related to discontinued business | — |
| | — |
| | — |
| | — |
| | (3 | ) | | — |
| | — |
| | (3 | ) |
Balance as of June 30, 2019 | 92 |
|
| $ | 2 |
|
| $ | (6,168 | ) |
| $ | 4,094 |
|
| $ | 1,558 |
|
| $ | (51 | ) |
| $ | 5 |
| | $ | (560 | ) |
See Notes to Condensed Consolidated Financial Statements.
8
WYNDHAM DESTINATIONS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF (DEFICIT)/EQUITY
(In millions)
(Unaudited)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Shares Outstanding | | Common Stock | | Treasury Stock | | Additional Paid-in Capital | | Retained Earnings | | Accumulated Other Comprehensive (Loss)/Income | | Non-controlling Interest | | Total Equity/(Deficit) |
Balance as of December 31, 2017 | 100 |
| | $ | 2 |
| | $ | (5,719 | ) | | $ | 3,996 |
| | $ | 2,501 |
| | $ | (11 | ) | | $ | 5 |
| | $ | 774 |
|
Beginning balance adjustment due to change in accounting principle | — |
| | — |
| | — |
| | — |
| | (17 | ) | | — |
| | — |
| | (17 | ) |
Net income | — |
| | — |
| | — |
| | — |
| | 34 |
| | — |
| | — |
| | 34 |
|
Other comprehensive income | — |
| | — |
| | — |
| | — |
| | — |
| | 14 |
| | — |
| | 14 |
|
Issuance of shares for RSU vesting | 1 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
|
Net share settlement of stock-based compensation | — |
| | — |
| | — |
| | (32 | ) | | — |
| | — |
| | — |
| | (32 | ) |
Change in stock-based compensation | — |
| | — |
| | — |
| | 21 |
| | — |
| | — |
| | — |
| | 21 |
|
Change in stock-based compensation for Board of Directors | — |
| | — |
| | — |
| | 1 |
| | — |
| | — |
| | — |
| | 1 |
|
Repurchase of common stock | (1 | ) | | |