Starwood 2009 Annual Report Download - page 172

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Note 26. Quarterly Results (Unaudited)
March 31 June 30 September 30 December 31 Year
Three Months Ended
(In millions, except per share data)
2009
Revenues .............................. $1,091 $1,190 $1,192 $1,283 $4,756
Costs and expenses ....................... $1,030 $1,091 $1,106 $1,503 $4,730
Income from continuing operations ........... $ 7 $ 140 $ 36 $ (186) $ (3)
Discontinued operations ................... $ (3) $ (6) $ 4 $ 79 $ 74
Net income............................. $ 4 $ 134 $ 40 $ (107) $ 71
Earnings per share:
Basic —
Income (loss) from continuing operations..... $ 0.04 $ 0.79 $ 0.20 $ (1.03) $ (0.00)
Discontinued operations ................. $(0.01) $ (0.04) $ 0.02 $ 0.44 $ 0.41
Net income ........................... $ 0.03 $ 0.75 $ 0.22 $ (0.59) $ 0.41
Diluted —
Income (loss) from continuing operations..... $ 0.04 $ 0.78 $ 0.20 $ (1.03) $ (0.00)
Discontinued operations ................. $(0.01) $ (0.04) $ 0.02 $ 0.44 $ 0.41
Net income ........................... $ 0.03 $ 0.74 $ 0.22 $ (0.59) $ 0.41
2008
Revenues .............................. $1,427 $1,532 $1,497 $1,298 $5,754
Costs and expenses ....................... $1,284 $1,338 $1,289 $1,233 $5,144
Income from continuing operations ........... $ 77 $ 104 $ 113 $ (45) $ 249
Discontinued operations ................... $ (45) $ 1 $ — $ 124 $ 80
Net income............................. $ 32 $ 105 $ 113 $ 79 $ 329
Earnings per share:
Basic —
Income (loss) from continuing operations..... $ 0.42 $ 0.56 $ 0.63 $ (0.25) $ 1.37
Discontinued operations ................. $(0.25) $ 0.01 $ — $ 0.69 $ 0.44
Net income ........................... $ 0.17 $ 0.57 $ 0.63 $ 0.44 $ 1.81
Diluted —
Income (loss) from continuing operations..... $ 0.41 $ 0.55 $ 0.62 $ (0.25) $ 1.34
Discontinued operations ................. $(0.24) $ 0.01 $ — $ 0.69 $ 0.43
Net income ........................... $ 0.17 $ 0.56 $ 0.62 $ 0.44 $ 1.77
Due to the dispositions in the fourth quarter of 2009 that were recorded as discontinued operations (see
Note 17), certain amounts in the table above have been reclassified to present comparable results for all periods
presented.
F-49
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
NOTES TO FINANCIAL STATEMENTS — (Continued)