Starwood 2012 Annual Report Download - page 206
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STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
NOTES TO FINANCIAL STATEMENTS
(a) Represents gross inventory capital expenditures less cost of sales of $(11) million, $90 million and
$112 million for the years ended 2012, 2011 and 2010, respectively. Additionally, includes development
capital of $24 million, $56 million and $39 million for the years ended 2012, 2011 and 2010, respectively.
(b) Amounts presented for the years ended 2012 and 2011 exclude costs of sales of Bal Harbour of $440 million
and $76 million, respectively.
December 31,
2012 2011 2010
Assets:
Americas ............................................................. $2,229 $2,307 $2,543
EAME ............................................................... 911 830 882
Asia Pacific .......................................................... 574 610 594
Vacation ownership and residential ........................................ 1,445 2,056 1,989
Total segment assets (a) ................................................ 5,159 5,803 6,008
Other corporate assets .................................................. 3,702 3,757 3,768
$8,861 $9,560 $9,776
(a) Includes long-lived assets of $1.6 billion, $1.8 billion and $2.0 billion at December 31, 2012, 2011 and
2010, respectively, located in the United States. As well, includes long-lived assets of $366 million, $330
million and $324 million at December 31, 2012, 2011 and 2010, respectively, located in Italy. No other
country contributed more than 10% of our total long-lived assets.
December 31,
2012 2011 2010
Investments in unconsolidated ventures:
Americas ................................................................. $ 71 $ 70 $ 77
EAME ................................................................... 25 22 37
Asia Pacific ............................................................... 143 137 171
Vacation ownership and residential ............................................ 21 30 27
Total investments in unconsolidated ventures .................................. $260 $259 $312
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