| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Operating activities | |||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | |||||||||||
507,000 | 672,000 | 855,000 | 612,000 | 612,000 | 529,000 | 433,000 | 399,000 | 417,000 | 379,000 | 293,000 | -1,074,000 |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | |||||||||||
0 | -50,000 | 209,000 | 260,000 | 60,000 | - | - | - | - | - | - | - |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | |||||||||||
18,000 | 456,000 | 0 | 0 | - | - | - | - | - | - | - | - |
Adjustments to reconcile net (loss)/income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
121,000 | 138,000 | 136,000 | 127,000 | 187,000 | 233,000 | 216,000 | 185,000 | 178,000 | 173,000 | 178,000 | 184,000 |
Provision for loan losses | |||||||||||
479,000 | 456,000 | 420,000 | 342,000 | 248,000 | 260,000 | 349,000 | 409,000 | 339,000 | 340,000 | 449,000 | 450,000 |
Deferred income taxes | |||||||||||
79,000 | 122,000 | -397,000 | 72,000 | 40,000 | 47,000 | 64,000 | 62,000 | 70,000 | 76,000 | 90,000 | 110,000 |
Stock-based compensation | |||||||||||
24,000 | 129,000 | 59,000 | 57,000 | 58,000 | 57,000 | 53,000 | 41,000 | 42,000 | 39,000 | 37,000 | 35,000 |
Asset impairments | |||||||||||
36,000 | 5,000 | 205,000 | 0 | 7,000 | 35,000 | 8,000 | 8,000 | 57,000 | 4,000 | 15,000 | 1,426,000 |
Gain on sale of business | |||||||||||
68,000 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Excess Tax Benefit from Share-based Compensation, Operating Activities | |||||||||||
- | - | - | 9,000 | 17,000 | 34,000 | 15,000 | 33,000 | 18,000 | 14,000 | - | - |
Non-cash lease expense | |||||||||||
31,000 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Loss on early extinguishment of debt | |||||||||||
- | - | - | -11,000 | 0 | 0 | -106,000 | -107,000 | -12,000 | -14,000 | - | - |
Non-cash interest | |||||||||||
21,000 | 20,000 | 22,000 | 23,000 | 22,000 | 23,000 | 26,000 | 22,000 | 27,000 | 60,000 | 51,000 | 12,000 |
Non-cash restructuring | |||||||||||
- | - | - | - | - | - | - | - | - | - | 15,000 | 23,000 |
Net change in assets and liabilities, excluding the impact of acquisitions and dispositions: | |||||||||||
Trade receivables | |||||||||||
15,000 | 27,000 | -7,000 | -1,000 | 24,000 | 29,000 | 63,000 | 19,000 | -20,000 | -14,000 | -92,000 | -3,000 |
Vacation ownership contract receivables | |||||||||||
562,000 | 615,000 | 526,000 | 405,000 | 295,000 | 221,000 | 255,000 | 303,000 | 207,000 | 202,000 | 199,000 | 786,000 |
Inventory | |||||||||||
-13,000 | 27,000 | 71,000 | 26,000 | 25,000 | 17,000 | -32,000 | -95,000 | -79,000 | -54,000 | 9,000 | 147,000 |
Deferred income | |||||||||||
10,000 | 7,000 | 11,000 | -5,000 | 16,000 | 38,000 | 39,000 | -7,000 | -20,000 | -82,000 | -315,000 | 87,000 |
Prepaid expenses | |||||||||||
64,000 | 26,000 | 7,000 | -5,000 | 11,000 | 3,000 | 30,000 | -8,000 | 19,000 | -12,000 | -25,000 | -3,000 |
Other assets | |||||||||||
-1,000 | 17,000 | 16,000 | 10,000 | -32,000 | 12,000 | 0 | 2,000 | -9,000 | 4,000 | -41,000 | 25,000 |
Accounts payable, accrued expenses, prepaid expenses, other assets and other liabilities | |||||||||||
-151,000 | -146,000 | -6,000 | -70,000 | 80,000 | 84,000 | 46,000 | 18,000 | 41,000 | -52,000 | -54,000 | -124,000 |
Due to former Parent and subsidiaries, net | |||||||||||
- | - | - | - | - | - | - | - | -15,000 | -179,000 | -44,000 | -23,000 |
Payments of development advance notes | |||||||||||
- | - | - | - | 9,000 | 18,000 | 65,000 | 14,000 | 5,000 | 10,000 | - | - |
Proceeds from development advance notes | |||||||||||
- | - | - | - | 6,000 | 6,000 | 0 | - | - | - | - | - |
Other, net | |||||||||||
-9,000 | -7,000 | -17,000 | 24,000 | -1,000 | 6,000 | 1,000 | -14,000 | 9,000 | -3,000 | -24,000 | -45,000 |
Net cash provided by operating activities - continuing operations | |||||||||||
453,000 | 292,000 | 500,000 | 441,000 | 871,000 | - | - | - | - | - | - | - |
Net cash (used in)/provided by operating activities - discontinued operations | |||||||||||
-1,000 | 150,000 | 486,000 | 522,000 | - | - | - | - | - | - | - | - |
Net cash provided by operating activities | |||||||||||
452,000 | 442,000 | 986,000 | 963,000 | 991,000 | 984,000 | 1,008,000 | 1,004,000 | 1,003,000 | 635,000 | 689,000 | 109,000 |
Investing activities | |||||||||||
Property and equipment additions | |||||||||||
108,000 | 99,000 | 107,000 | 117,000 | 189,000 | 235,000 | 238,000 | 208,000 | 239,000 | 167,000 | 135,000 | 187,000 |
Acquisition of business, net of cash acquired | |||||||||||
51,000 | 5,000 | 48,000 | 21,000 | 95,000 | 34,000 | 129,000 | 263,000 | 27,000 | 236,000 | - | 135,000 |
Proceeds from asset sales | |||||||||||
6,000 | 12,000 | 6,000 | 16,000 | 21,000 | 11,000 | 6,000 | 1,000 | 31,000 | 20,000 | 5,000 | 9,000 |
Proceeds from sale of business, net | |||||||||||
106,000 | 1,000 | 0 | - | - | - | - | - | - | - | - | - |
Equity investments and loans | |||||||||||
- | - | - | - | 5,000 | 8,000 | 3,000 | 42,000 | 12,000 | 0 | 13,000 | 18,000 |
(Increase)/decrease in securitization restricted cash | |||||||||||
- | - | - | - | -4,000 | 4,000 | -29,000 | -11,000 | -6,000 | 5,000 | -22,000 | -30,000 |
Increase in escrow deposit restricted cash | |||||||||||
- | - | - | - | 5,000 | -10,000 | 2,000 | 5,000 | 5,000 | 12,000 | -9,000 | -42,000 |
Other, net | |||||||||||
-3,000 | 8,000 | 2,000 | 18,000 | -8,000 | 4,000 | -1,000 | -1,000 | 5,000 | 8,000 | -3,000 | - |
Net cash used in investing activities - continuing operations | |||||||||||
-44,000 | -99,000 | -151,000 | -140,000 | -264,000 | - | - | - | - | - | - | - |
Net cash used in investing activities - discontinued operations | |||||||||||
-22,000 | -626,000 | -211,000 | -206,000 | - | - | - | - | - | - | - | - |
Net cash used in investing activities | |||||||||||
-66,000 | -725,000 | -362,000 | -346,000 | -302,000 | -276,000 | -401,000 | -519,000 | -256,000 | -418,000 | -109,000 | -319,000 |
Financing activities | |||||||||||
Proceeds from non-recourse vacation ownership debt | |||||||||||
2,253,000 | 2,977,000 | 2,002,000 | 2,079,000 | 1,712,000 | 2,143,000 | 1,734,000 | 1,723,000 | 1,709,000 | 1,697,000 | 1,406,000 | 1,923,000 |
Principal payments on non-recourse vacation ownership debt | |||||||||||
2,068,000 | 2,713,000 | 2,053,000 | 2,044,000 | 1,747,000 | 1,887,000 | 1,785,000 | 1,624,000 | 1,497,000 | 1,554,000 | 1,711,000 | 2,194,000 |
Repayments of Long-term Debt | |||||||||||
- | - | - | 141,000 | - | - | - | - | - | - | - | - |
Proceeds from debt | |||||||||||
2,677,000 | 3,203,000 | 1,629,000 | 112,000 | 110,000 | 164,000 | 405,000 | 1,991,000 | 2,112,000 | 1,525,000 | 822,000 | 2,183,000 |
Principal payments on debt | |||||||||||
2,892,000 | 3,520,000 | 1,293,000 | - | 165,000 | 211,000 | 411,000 | 2,172,000 | 2,082,000 | 1,837,000 | 1,451,000 | 1,681,000 |
Repayments of commercial paper, net | |||||||||||
0 | -147,000 | -280,000 | 318,000 | -79,000 | -21,000 | -63,000 | 273,000 | 0 | 0 | - | - |
Proceeds from notes issued and term loan | |||||||||||
346,000 | 300,000 | 694,000 | 325,000 | 348,000 | 0 | 843,000 | 941,000 | 245,000 | 494,000 | 460,000 | - |
Repayment of notes | |||||||||||
3,000 | 790,000 | 300,000 | 327,000 | 0 | 0 | 636,000 | 757,000 | 0 | 0 | - | - |
Proceeds from Sale of Assets, Financing Activities | |||||||||||
- | - | - | 20,000 | 70,000 | 0 | 96,000 | 0 | 0 | - | - | - |
Repayments of vacation ownership inventory arrangement | |||||||||||
12,000 | 12,000 | 41,000 | 26,000 | 7,000 | 15,000 | 0 | - | - | - | - | - |
Dividends to shareholders | |||||||||||
166,000 | 194,000 | 242,000 | 223,000 | 202,000 | 179,000 | 156,000 | 134,000 | 99,000 | 86,000 | 29,000 | 28,000 |
Cash transferred to Wyndham Hotels related to Spin-off | |||||||||||
69,000 | 476,000 | 0 | 0 | - | - | - | - | - | - | - | - |
Repayment of convertible notes | |||||||||||
- | - | - | - | - | - | - | 45,000 | 262,000 | 250,000 | - | - |
Proceeds from call options | |||||||||||
- | - | - | - | - | - | - | -33,000 | -155,000 | -136,000 | 42,000 | - |
Repurchase of warrants | |||||||||||
- | - | - | - | - | - | - | - | 112,000 | 98,000 | -11,000 | - |
Proceeds from issuance of common stock | |||||||||||
11,000 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Capital contribution from former Parent | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 8,000 |
Repurchase of common stock | |||||||||||
340,000 | 330,000 | 599,000 | 619,000 | 658,000 | 646,000 | 593,000 | 631,000 | 893,000 | 235,000 | - | 15,000 |
Proceeds from stock option exercises | |||||||||||
- | - | - | - | - | - | 0 | 13,000 | 11,000 | 40,000 | - | 5,000 |
Excess tax benefits from stock-based compensation | |||||||||||
- | - | - | 9,000 | 17,000 | 34,000 | 15,000 | 33,000 | 18,000 | 14,000 | - | - |
Debt issuance costs | |||||||||||
22,000 | 20,000 | 10,000 | 20,000 | 21,000 | 19,000 | 23,000 | 20,000 | 27,000 | 41,000 | 27,000 | 27,000 |
Net share settlement of incentive equity awards | |||||||||||
4,000 | 60,000 | 39,000 | 36,000 | 42,000 | 64,000 | 31,000 | 55,000 | 31,000 | 24,000 | - | - |
Other, net | |||||||||||
0 | -4,000 | -4,000 | -1,000 | -3,000 | 0 | 0 | 0 | - | - | - | -8,000 |
Net cash used in financing activities - continuing operations | |||||||||||
-289,000 | -1,786,000 | -536,000 | -574,000 | -667,000 | - | - | - | - | - | - | - |
Net cash provided by financing activities - discontinued operations | |||||||||||
0 | 2,066,000 | -22,000 | -12,000 | - | - | - | - | - | - | - | - |
Net cash provided by/(used in) financing activities | |||||||||||
-289,000 | 280,000 | -558,000 | -586,000 | -675,000 | -701,000 | -605,000 | -431,000 | -753,000 | -219,000 | -561,000 | 166,000 |
Effect of changes in exchange rates on cash, cash equivalents and restricted cash | |||||||||||
1,000 | -9,000 | 17,000 | -20,000 | -26,000 | -18,000 | -3,000 | -1,000 | -8,000 | 3,000 | - | -30,000 |
Net change in cash, cash equivalents and restricted cash | |||||||||||
98,000 | -12,000 | 83,000 | 11,000 | -12,000 | -11,000 | -1,000 | 53,000 | -14,000 | 1,000 | 19,000 | -74,000 |