Starwood 2009 Annual Report Download - page 170
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The following table presents revenues, operating income, assets and capital expenditures for the Company’s
reportable segments (in millions):
2009 2008 2007
Revenues:
Hotel ..................................................... $4,038 $4,860 $4,846
Vacation ownership and residential ............................... 674 894 1,153
Total ..................................................... $4,712 $5,754 $5,999
Operating income:
Hotel ..................................................... $ 471 $ 776 $ 861
Vacation ownership and residential ............................... 73 136 246
Total segment operating income ................................. 544 912 1,107
Selling, general, administrative and other .............................. (139) (161) (213)
Restructuring, goodwill impairment and other special charges, net. . . ......... (379) (141) (53)
Operating income ............................................... 26 610 841
Equity earnings and gains and losses from unconsolidated ventures, net:
Hotel ....................................................... (5) 12 55
Vacation ownership and residential ................................. 1 4 11
Interest expense, net ............................................. (227) (207) (147)
Loss on asset dispositions and impairments, net ......................... (91) (98) (44)
Income (loss) from continuing operations before taxes and minority interest .... $ (296) $ 321 $ 716
Depreciation and amortization:
Hotel ..................................................... $ 229 $ 241 $ 233
Vacation ownership and residential ............................... 27 29 21
Corporate .................................................. 53 43 43
Total ..................................................... $ 309 $ 313 $ 297
Assets:
Hotel
(a)
..................................................... $5,924 $6,728
Vacation ownership and residential
(b)
............................... 1,639 2,183
Corporate ................................................... 1,198 792
Total ..................................................... $8,761 $9,703
(a) Includes $294 million and $315 million of investments in unconsolidated joint ventures at December 31, 2009
and 2008, respectively.
(b) Includes $25 million and $38 million of investments in unconsolidated joint ventures at December 31, 2009
and 2008, respectively.
F-47
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
NOTES TO FINANCIAL STATEMENTS — (Continued)