Starwood 2007 Annual Report Download - page 165
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The following table presents revenues, operating income, assets and capital expenditures for the Company’s
reportable segments (in millions):
2007 2006 2005
Revenues:
Hotel ..................................................... $5,000 $4,863 $4,995
Vacation ownership and residential ............................... 1,153 1,116 982
Total ..................................................... $6,153 $5,979 $5,977
Operating income:
Hotel ..................................................... $ 878 $ 828 $ 792
Vacation ownership and residential ............................... 246 253 215
Total segment operating income ................................. 1,124 1,081 1,007
Selling, general, administrative and other .............................. (213) (222) (172)
Restructuring and other special charges, net ............................ (53) (20) (13)
Operating income ............................................... 858 839 822
Gain on sale of VOI notes receivable ................................. — — 25
Equity earnings and gains and losses from unconsolidated ventures, net:
Hotel ....................................................... 55 46 51
Vacation ownership and residential ................................. 11 15 13
Interest expense, net ............................................. (147) (215) (239)
Loss on asset dispositions and impairments, net ......................... (44) (3) (30)
Income from continuing operations before taxes and minority interest ......... $ 733 $ 682 $ 642
Depreciation and amortization:
Hotel ..................................................... $ 242 $ 251 $ 352
Vacation ownership and residential ............................... 21 16 13
Corporate .................................................. 43 39 42
Total ..................................................... $ 306 $ 306 $ 407
Assets:
Hotel
(a)
..................................................... $6,772 $6,877
Vacation ownership and residential
(b)
............................... 1,918 1,698
Corporate ................................................... 932 705
Total ....................................................... $9,622 $9,280
(a) Includes $341 million and $340 million of investments in unconsolidated joint ventures at December 31, 2007
and 2006, respectively.
(b) Includes $42 million and $43 million of investments in unconsolidated joint ventures at December 31, 2007 and
2006, respectively.
F-45
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
NOTES TO FINANCIAL STATEMENTS — (Continued)