Starwood 2010 Annual Report Download - page 164

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Note 28. Quarterly Results (Unaudited)
March 31 June 30 September 30 December 31 Year
Three Months Ended
(In millions, except per share data)
2010
Revenues .............................. $1,187 $1,289 $1,255 $1,340 $5,071
Costs and expenses ....................... $1,102 $1,152 $1,133 $1,084 $4,471
Income from continuing operations ........... $ 28 $ 79 $ (5) $ 206 $ 308
Discontinued operations ................... $ — $ 35 $ (1) $ 133 $ 167
Net income............................. $ 28 $ 114 $ (6) $ 339 $ 475
Earnings per share:
Basic —
Income (loss) from continuing operations..... $ 0.16 $ 0.44 $ (0.03) $ 1.13 $ 1.70
Discontinued operations ................. $ — $ 0.19 $ 0.00 $ 0.72 $ 0.91
Net income ........................... $ 0.16 $ 0.63 $ (0.03) $ 1.85 $ 2.61
Diluted —
Income (loss) from continuing operations..... $ 0.16 $ 0.42 $ (0.03) $ 1.08 $ 1.63
Discontinued operations ................. $ — $ 0.19 $ 0.00 $ 0.70 $ 0.88
Net income ........................... $ 0.16 $ 0.61 $ (0.03) $ 1.78 $ 2.51
2009
Revenues .............................. $1,127 $1,167 $1,156 $1,246 $4,696
Costs and expenses ....................... $1,066 $1,068 $1,070 $1,466 $4,670
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
Due to the dispositions in the fourth quarter of 2009 that were recorded as discontinued operations (see
Note 19), certain amounts in the table above have been reclassified to present comparable results for all periods
presented.
F-48
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
NOTES TO FINANCIAL STATEMENTS — (Continued)