Starwood 2012 Annual Report Download - page 205
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STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
NOTES TO FINANCIAL STATEMENTS
Year Ended December 31,
2012 2011 2010
Segment earnings:
Americas ............................................................. $ 581 $ 555 $484
EAME ............................................................... 179 204 191
Asia Pacific ........................................................... 218 186 165
Vacation ownership and residential ......................................... 312 170 123
Total segment earnings ................................................ 1,290 1,115 963
Other corporate — unallocated ............................................ 88 74 67
Corporate selling, general, administrative and other — unallocated ................ (158) (156) (151)
Gain (loss) on asset dispositions and impairments, net .......................... (21) — (39)
Restructuring and other special (charges) credits .............................. 12 (68) 75
Adjustments to equity earnings (a) .......................................... (42) (54) (56)
Interest expense ........................................................ (172) (203) (237)
Loss on early extinguishment of debt, net .................................... (128) (16) (1)
Depreciation and amortization ............................................. (251) (265) (285)
Discontinued operations .................................................. 92 (13) 168
Income tax benefit (expense) .............................................. (148) 75 (27)
Net income attributable to Starwood ...................................... $ 562 $ 489 $477
(a) Includes interest expense, depreciation, and amortization expense related to equity earnings not allocated to
segment earnings.
Year Ended December 31,
2012 2011 2010
Earnings from unconsolidated ventures:
Americas .......................................................... $27 $29 $29
EAME ............................................................ 4 1 2
Asia Pacific ........................................................ 35 32 33
Vacation ownership and residential ..................................... 1 3 2
Total earnings from unconsolidated ventures ............................ $67 $65 $66
Year Ended December 31,
2012 2011 2010
Capital expenditures:
Americas .......................................................... $202 $174 $155
EAME ............................................................ 99 100 23
Asia Pacific ........................................................ 15 9 6
Vacation ownership and residential (a)(b) .................................. 13 146 151
Total segment capital expenditures .................................... 329 429 335
Other corporate unallocated ........................................... 77 124 42
$406 $553 $377
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