Starwood 2011 Annual Report Download - page 166

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STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
NOTES TO FINANCIAL STATEMENTS
Note 27. Quarterly Results (Unaudited)
Three Months Ended
March 31 June 30 September 30 December 31 Year
(In millions, except per share data)
2011
Revenues .......................................... $1,295 $1,426 $1,372 $1,531 $5,624
Costs and expenses ................................... $1,175 $1,249 $1,210 $1,360 $4,994
Income from continuing operations ...................... $ 27 $ 150 $ 165 $ 158 $ 500
Net (income) loss from continuing operations attributable to
noncontrolling interests .............................. $ 2 $ — $ — $ — $ 2
Income (loss) from continuing operations attributable to
Starwood’s common shareholders ..................... $ 29 $ 150 $ 165 $ 158 $ 502
Discontinued operations ............................... $ (1) $ (19) $ (2) $ 9 $ (13)
Net income attributable to Starwood ...................... $ 28 $ 131 $ 163 $ 167 $ 489
Earnings per share: (a)
Basic —
Income (loss) from continuing operations ............... $ 0.16 $ 0.79 $ 0.88 $ 0.82 $ 2.65
Discontinued operations ............................. $(0.01) $ (0.10) $ (0.01) $ 0.05 $ (0.07)
Net income ....................................... $ 0.15 $ 0.69 $ 0.87 $ 0.87 $ 2.58
Diluted —
Income (loss) from continuing operations ............... $ 0.15 $ 0.77 $ 0.85 $ 0.80 $ 2.57
Discontinued operations ............................. $(0.01) $ (0.09) $ (0.01) $ 0.05 $ (0.06)
Net income ....................................... $ 0.14 $ 0.68 $ 0.84 $ 0.85 $ 2.51
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 (loss) from continuing operations ................. $ 28 $ 79 $ (5) $ 206 $ 308
Net (income) loss from continuing operations attributable to
noncontrolling interests .............................. $ 2 $ — $ — $ — $ 2
Income (loss) from continuing operations attributable to
Starwood’s common shareholders ..................... $ 30 $ 79 $ (5) $ 206 $ 310
Discontinued operations ............................... $ — $ 35 $ (1) $ 133 $ 167
Net income attributable to Starwood ...................... $ 30 $ 114 $ (6) $ 339 $ 477
Earnings per share: (a)
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
(a) Amounts presented are attributable to Starwood’s common shareholders.
F-49