|
Document and Entity Information
|
6 Months Ended | |
|---|---|---|
|
Jun. 17, 2011
|
Jul. 01, 2011
|
|
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Period End Date | Jun. 17, 2011 | |
| Document Fiscal Year Focus | 2011 | |
| Document Fiscal Period Focus | Q2 | |
| Trading Symbol | MAR | |
| Entity Registrant Name | MARRIOTT INTERNATIONAL INC /MD/ | |
| Entity Central Index Key | 0001048286 | |
| Current Fiscal Year End Date | --12-30 | |
| Entity Filer Category | Large Accelerated Filer | |
| Entity Common Stock, Shares Outstanding | 352,902,263 |
| X | ||||||||||
|
- Definition
If the value is true, then the document as an amendment to previously-filed/accepted document. No definition available.
|
| X | ||||||||||
|
- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
|
| X | ||||||||||
|
- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
|
| X | ||||||||||
|
- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
|
| X | ||||||||||
|
- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
|
| X | ||||||||||
|
- Definition
The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type is limited to the same value as the supporting SEC submission type, minus any "/A" suffix. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, 497, NCSR, N-CSR, N-CSRS, N-Q, 10-KT, 10-QT, 20-FT, POS AM and Other. No definition available.
|
| X | ||||||||||
|
- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument No definition available.
|
| X | ||||||||||
|
- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
|
| X | ||||||||||
|
- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
|
|
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Millions, except Per Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 17, 2011
|
Jun. 18, 2010
|
Jun. 17, 2011
|
Jun. 18, 2010
|
|
| REVENUES | ||||
| Base management fees | $ 149 | $ 136 | $ 283 | $ 261 |
| Franchise fees | 120 | 105 | 223 | 196 |
| Incentive management fees | 50 | 46 | 92 | 86 |
| Owned, leased, corporate housing, and other revenue | 249 | 255 | 473 | 484 |
| Timeshare sales and services | 288 | 289 | 564 | 574 |
| Cost reimbursements | 2,116 | 1,940 | 4,115 | 3,800 |
| Revenue | 2,972 | 2,771 | 5,750 | 5,401 |
| OPERATING COSTS AND EXPENSES | ||||
| Owned, leased, and corporate housing-direct | 220 | 224 | 424 | 441 |
| Timeshare-direct | 245 | 239 | 470 | 474 |
| Reimbursed costs | 2,116 | 1,940 | 4,115 | 3,800 |
| General, administrative, and other | 159 | 142 | 318 | 280 |
| Costs and Expenses, Total | 2,740 | 2,545 | 5,327 | 4,995 |
| OPERATING INCOME | 232 | 226 | 423 | 406 |
| Gains and other income | 3 | 3 | 5 | 4 |
| Interest expense | (37) | (44) | (78) | (89) |
| Interest income | 3 | 3 | 7 | 7 |
| Equity in losses | 0 | (4) | (4) | (15) |
| INCOME BEFORE INCOME TAXES | 201 | 184 | 353 | 313 |
| Provision for income taxes | (66) | (65) | (117) | (111) |
| NET INCOME | $ 135 | $ 119 | $ 236 | $ 202 |
| EARNINGS PER SHARE-Basic | ||||
| Earnings per share | $ 0.38 | $ 0.33 | $ 0.65 | $ 0.56 |
| EARNINGS PER SHARE-Diluted | ||||
| Earnings per share | $ 0.37 | $ 0.31 | $ 0.63 | $ 0.54 |
| CASH DIVIDENDS DECLARED PER SHARE | $ 0.1000 | $ 0.0400 | $ 0.1875 | $ 0.0800 |
| X | ||||||||||
|
- Definition
Costs incurred directly related to owned and leased hotels as well as corporate housing. No definition available.
|
| X | ||||||||||
|
- Definition
Sum of operating profit and nonoperating income (expense) before income taxes. No definition available.
|
| X | ||||||||||
|
- Definition
Revenue generated from owned and leased hotels as well as corporate housing and other revenue sources. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cost associated with reimbursable income. This occurs when a services entity incurs expenses on behalf of the client and passes through the cost of reimbursable expenses to a client. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Revenue earned during the period from consideration (often a percentage of the franchisee's sales) received for the right to operate a business using the entity's name, merchandise, services, methodologies, promotional support, marketing, and supplies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Base revenue, as contractually stipulated, for operating and managing another entity's business during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Revenue for operating and managing another entity's business during the reporting period which is based on meeting certain operating or revenue metrics (for example: occupancy or vacancy rates, profitability or expense targets), or otherwise meant to incentivize the operator other than by guaranteed or minimum compensation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate amount of other income amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) profits on securities (net of losses), and (d) miscellaneous other income items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Repayment received or receivable for expenses incurred on behalf of a client or customer, other than those reimbursements received by landlords from tenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The costs associated with a property whose ownership is held by a number of people, each with a right of possession for a specified time interval. Time-Sharing is most commonly applied to resort and vacation properties; also known as Vacation Interest. The costs include the costs to build or acquire a vacation project, the estimated cost needed to complete a project under construction, the total revenues expected to be earned on a project, and the projected revenues relating to the recovered purchase on future cancelled sales. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Revenue associated with the selling of time shares, a form of property ownership under which a property is held by a number of people, each with a right of possession for a specified time interval. Time sharing is most commonly applied to resort and vacation properties; also known as vacation interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts of all goodwill and intangible assets of the balance sheet date, net of accumulated amortization and impairment charges. No definition available.
|
| X | ||||||||||
|
- Definition
The current portion of the company's future redemption obligation for its frequent guest loyalty program. No definition available.
|
| X | ||||||||||
|
- Definition
The long-term portion of the company's future redemption obligation for its frequent guest loyalty program. No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate of amounts due from customers or clients, within one year of the balance sheet date (or one operating cycle, if longer), for goods or services that have been delivered or sold in the normal course of business and an amount representing an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date within one year of the balance sheet, reduced to their estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection and net of any write-downs taken for collection uncertainty on the part of the holder, respectively. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The current portion of the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, are classified according to the expected reversal date of the temporary difference. An unrecognized tax benefit that is directly related to a position taken in a tax year that results in a net operating loss carryforward is presented as a reduction of the related deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The noncurrent portion as of the balance sheet date of the aggregate carrying amount of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after the valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, is classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate sum of gross carrying value of a major finite-lived intangible asset class, less accumulated amortization and any impairment charges. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total of the portions of the carrying amounts as of the balance sheet date of long-term debt, which may include notes payable, bonds payable, debentures, mortgage loans, and commercial paper, which are scheduled to be repaid within one year or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
An amount representing an agreement for an unconditional promise by the maker to pay the Entity (holder) a definite sum of money at a future date more than one year from the balance sheet date, net of any write-downs taken for collection uncertainty on the part of the holder. Such amount may include accrued interest receivable in accordance with the terms of the debt. The debt also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. This amount does not include amounts related to receivables held-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate carrying amount, as of the balance sheet date, of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed in the balance sheet. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of Stockholders' Equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
In Millions, unless otherwise specified |
Jun. 17, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Accounts and notes receivable | $ 1,006 | $ 938 |
| Other | 120 | 123 |
| Notes receivable | 1,127 | 1,264 |
| Other | 336 | 205 |
| Current portion of long-term debt | 482 | 138 |
| Other | 667 | 551 |
| Long-term debt | 2,440 | 2,691 |
|
Variable Interest Entity, Primary Beneficiary
|
||
| Accounts and notes receivable | 119 | 125 |
| Other | 47 | 31 |
| Notes receivable | 799 | 910 |
| Other | 14 | 14 |
| Current portion of long-term debt | 122 | 126 |
| Other | 5 | 3 |
| Long-term debt | $ 773 | $ 890 |
| X | ||||||||||
|
- Definition
The aggregate of amounts due from customers or clients, within one year of the balance sheet date (or one operating cycle, if longer), for goods or services that have been delivered or sold in the normal course of business and an amount representing an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date within one year of the balance sheet, reduced to their estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection and net of any write-downs taken for collection uncertainty on the part of the holder, respectively. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of the portions of the carrying amounts as of the balance sheet date of long-term debt, which may include notes payable, bonds payable, debentures, mortgage loans, and commercial paper, which are scheduled to be repaid within one year or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
An amount representing an agreement for an unconditional promise by the maker to pay the Entity (holder) a definite sum of money at a future date more than one year from the balance sheet date, net of any write-downs taken for collection uncertainty on the part of the holder. Such amount may include accrued interest receivable in accordance with the terms of the debt. The debt also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. This amount does not include amounts related to receivables held-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate carrying amount, as of the balance sheet date, of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed in the balance sheet. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cash inflow (outflow) associated with equity and cost method investments. No definition available.
|
| X | ||||||||||
|
- Definition
The net cash flow change in the company's future redemption obligation for its frequent guest loyalty program. No definition available.
|
| X | ||||||||||
|
- Definition
The cash outflow from advancing money to others in the form of loans. No definition available.
|
| X | ||||||||||
|
- Definition
The non-cash component of income tax expense, less the tax benefit from exercise of stock options. No definition available.
|
| X | ||||||||||
|
- Definition
The cash inflow associated with principal collections from a borrowing supported by a written promise to pay an obligation and from the sale of such loans. No definition available.
|
| X | ||||||||||
|
- Definition
The net cash inflow (outflow) for borrowing having initial term of repayment greater than one year or the normal operating cycle, if longer. No definition available.
|
| X | ||||||||||
|
- Definition
All Timeshare transactions netted that result in no operating cash inflows or outflows in the period in which they occur, but affect net income and thus are removed when calculating net cash flow from operating activities, as well as Timeshare transactions netted that result in operating cash inflows or outflows in the period in which they occur, but do not affect net income and thus are added back when calculating net cash flow from operating activities using the indirect method. No definition available.
|
| X | ||||||||||
|
- Definition
The net cash flow change during the reporting period of other current assets and liabilities used in operating activities as well as other items that impact cash flows from operating activities. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in cash and cash equivalents. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash outflow or inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow from the entity's earnings to the shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to acquire asset without physical form usually arising from contractual or other legal rights, excluding goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Adjustment to remove noncash portion of restructuring costs and include cash payments when calculating cash flows from operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Basis of Presentation
|
6 Months Ended | ||
|---|---|---|---|
|
Jun. 17, 2011
|
|||
| Basis of Presentation |
The condensed consolidated financial statements present the results of operations, financial position, and cash flows of Marriott International, Inc. (“Marriott,” and together with its subsidiaries “we,” “us,” or the “Company”). In order to make this report easier to read, we refer throughout to (i) our Condensed Consolidated Financial Statements as our “Financial Statements,” (ii) our Condensed Consolidated Statements of Income as our “Income Statements,” our Condensed Consolidated Balance Sheets as our “Balance Sheets,” (iii) our properties, brands, or markets in the United States and Canada as “North America” or “North American,” and (iv) our properties, brands, or markets outside of the United States and Canada as “international.” These condensed consolidated financial statements have not been audited. We have condensed or omitted certain information and footnote disclosures normally included in financial statements presented in accordance with U.S. generally accepted accounting principles (“GAAP”). Although we believe our disclosures are adequate to make the information presented not misleading, you should read the financial statements in this report in conjunction with the consolidated financial statements and notes to those financial statements in our Annual Report on Form 10-K for the fiscal year ended December 31, 2010, (“2010 Form 10-K”). Certain terms not otherwise defined in this Form 10-Q have the meanings specified in our 2010 Form 10-K. Preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements, the reported amounts of revenues and expenses during the reporting periods, and the disclosures of contingent liabilities. Accordingly, ultimate results could differ from those estimates. Our 2011 second quarter ended on June 17, 2011; our 2010 fourth quarter ended on December 31, 2010; and our 2010 second quarter ended on June 18, 2010. In our opinion, our financial statements reflect all normal and recurring adjustments necessary to present fairly our financial position as of June 17, 2011, and December 31, 2010, the results of our operations for the twelve and twenty-four weeks ended June 17, 2011, and June 18, 2010, and cash flows for the twenty-four weeks ended June 17, 2011, and June 18, 2010. Interim results may not be indicative of fiscal year performance because of seasonal and short-term variations. We have eliminated all material intercompany transactions and balances between entities consolidated in these financial statements. We have also reclassified certain prior year amounts to conform to our 2011 presentation. See Footnote No. 13, “Business Segments,” for additional information on the reclassification of segment revenues, segment financial results, and segment assets to reflect movement of Hawaii to our North American segments from our International segment. Restricted Cash Restricted cash in our Balance Sheets at the end of the 2011 second quarter and year-end 2010 is recorded as $62 million and $55 million, respectively, in the “Other current assets” line and $114 million and $30 million, respectively, in the “Other long-term assets” line. Restricted cash primarily consists of cash proceeds of a note receivable that are restricted as collateral for other debt; cash held in a reserve account related to Timeshare segment notes receivable securitizations; cash held internationally that we have not repatriated due to statutory, tax and currency risks; and deposits received, primarily associated with timeshare interval, fractional ownership, and residential sales that are held in escrow until the contract has closed. |
| X | ||||||||||
|
- Definition
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
New Accounting Standards
|
6 Months Ended | ||
|---|---|---|---|
|
Jun. 17, 2011
|
|||
| New Accounting Standards |
Accounting Standards Update No. 2010-06 – Provisions Effective in the 2011 First Quarter (“ASU No. 2010-06”) Certain provisions of ASU No. 2010-06 became effective during our 2011 first quarter. Those provisions, which amended Subtopic 820-10, require us to present as separate line items all purchases, sales, issuances, and settlements of financial instruments valued using significant unobservable inputs (Level 3) in the reconciliation of fair value measurements, in contrast to the previous aggregate presentation as a single line item. The adoption did not have a material impact on our financial statements or disclosures. Future Adoption of Accounting Standards Accounting Standards Update No. 2011-04 – “Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs” (“ASU No. 2011-04”) ASU No. 2011-04 generally provides a uniform framework for fair value measurements and related disclosures between GAAP and International Financial Reporting Standards (“IFRS”). Additional disclosure requirements in the update include: (1) for Level 3 fair value measurements, quantitative information about unobservable inputs used, a description of the valuation processes used by the entity, and a qualitative discussion about the sensitivity of the measurements to changes in the unobservable inputs; (2) for an entity’s use of a nonfinancial asset that is different from the asset’s highest and best use, the reason for the difference; (3) for financial instruments not measured at fair value but for which disclosure of fair value is required, the fair value hierarchy level in which the fair value measurements were determined; and (4) the disclosure of all transfers between Level 1 and Level 2 of the fair value hierarchy. ASU 2011-04 will be effective for interim and annual periods beginning on or after December 15, 2011, which for us will be our 2012 first quarter. We are currently evaluating the impact ASU 2011-04 will have on our financial statements. See the “Fair Value Measurements” caption of Footnote No. 1, “Summary of Significant Accounting Policies” of our 2010 Form 10-K for additional information on the three levels of fair value measurements. Accounting Standards Update No. 2011-05 – “Comprehensive Income (Topic 220): Presentation of Comprehensive Income” (“ASU No. 2011-05”) ASU No. 2011-05 amends existing guidance by allowing only two options for presenting the components of net income and other comprehensive income: (1) in a single continuous financial statement, statement of comprehensive income or (2) in two separate but consecutive financial statements, consisting of an income statement followed by a separate statement of other comprehensive income. Also, items that are reclassified from other comprehensive income to net income must be presented on the face of the financial statements. ASU No. 2011-05 requires retrospective application, and it is effective for fiscal years, and interim periods within those years, beginning after December 15, 2011 (for us this will be our 2012 first quarter), with early adoption permitted. We believe the adoption of this update will change the order in which certain financial statements are presented and provide additional detail on those financial statements when applicable, but will not have any other impact on our financial statements. |
| X | ||||||||||
|
- Definition
Description Of New Accounting Pronouncements No definition available.
|
|
Income Taxes
|
6 Months Ended | ||
|---|---|---|---|
|
Jun. 17, 2011
|
|||
| Income Taxes |
We file income tax returns, including returns for our subsidiaries, in various jurisdictions around the world. We filed an Internal Revenue Service (“IRS”) refund claim relating to 2000 and 2001 for certain software development costs. The IRS disallowed the claims, and in July 2009, we protested the disallowance. This issue was settled in the 2011 second quarter. The IRS has examined our federal income tax returns, and we have settled all issues for tax years through 2009. We participated in the IRS Compliance Assurance Program (“CAP”) for the 2010 tax year, and are participating in CAP for 2011. This program accelerates the examination of key transactions with the goal of resolving any issues before the tax return is filed. Various income tax returns are also under examination by foreign, state and local taxing authorities. For the second quarter of 2011, we decreased unrecognized tax benefits by $4 million from $38 million at the end of the 2011 first quarter primarily due to the closing of the 2005 through 2008 IRS audit examinations. For the first half of 2011, we decreased unrecognized tax benefits by $5 million from $39 million at year-end 2010 primarily due to the closing of the 2005 through 2008 IRS audit examinations. The unrecognized tax benefits balance of $34 million at the end of the 2011 second quarter included $20 million of tax positions that, if recognized, would impact our effective tax rate. As a large taxpayer, the IRS and other taxing authorities continually audit us. Although we do not anticipate that a significant impact to our unrecognized tax benefit balance will occur during the next 52 weeks as a result of these audits, it remains possible that the amount of our liability for unrecognized tax benefits could change over that time period. |
| X | ||||||||||
|
- Definition
The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Share-Based Compensation
|
6 Months Ended | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
||||||||||||||||||||||||||||
| Share-Based Compensation |
Under our 2002 Comprehensive Stock and Cash Incentive Plan (the “Comprehensive Plan”), we award: (1) stock options to purchase our Class A Common Stock (“Stock Option Program”); (2) stock appreciation rights (“SARs”) for our Class A Common Stock (“SAR Program”); (3) restricted stock units (“RSUs”) of our Class A Common Stock; and (4) deferred stock units. We grant awards at exercise prices or strike prices equal to the market price of our Class A Common Stock on the date of grant. We recorded share-based compensation expense related to award grants of $22 million and $26 million for the twelve weeks ended June 17, 2011 and June 18, 2010, respectively, and $43 million and $50 million for the twenty-four weeks ended June 17, 2011 and June 18, 2010, respectively. Deferred compensation costs related to unvested awards totaled $171 million and $113 million at June 17, 2011 and December 31, 2010, respectively. RSUs We granted 2.5 million RSUs during the first half of 2011 to certain officers and key employees, and those units vest generally over four years in equal annual installments commencing one year after the date of grant. RSUs granted in the first half of 2011 had a weighted average grant-date fair value of $40. SARs We granted 0.7 million SARs to officers and key employees during the first half of 2011. These SARs expire 10 years after the date of grant and both vest and are exercisable in cumulative installments of one quarter at the end of each of the first four years following the date of grant. These SARs had a weighted average grant-date fair value of $16 and a weighted average exercise price of $41. We use a binomial method to estimate the fair value of each SAR granted, under which we calculate the weighted average expected SARs terms as the product of a lattice-based binomial valuation model that uses suboptimal exercise factors. We use historical data to estimate exercise behaviors and terms to retirement for separate groups of retirement eligible and non-retirement eligible employees. We used the following assumptions to determine the fair value of the Employee SARs granted during the first half of 2011.
In making these assumptions, we based risk-free rates on the corresponding U.S. Treasury spot rates for the expected duration at the date of grant, which we converted to a continuously compounded rate. We based expected volatility on the weighted-average historical volatility, with periods with atypical stock movement given a lower weight to reflect stabilized long-term mean volatility.
Other Information At the end of the 2011 second quarter, 54 million shares were reserved under the Comprehensive Plan, including 27 million shares under the Stock Option Program and the SAR Program. |
| X | ||||||||||
|
- Definition
The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Fair Value of Financial Instruments
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value of Financial Instruments |
We believe that the fair values of our current assets and current liabilities approximate their reported carrying amounts. We show the carrying values and the fair values of non-current financial assets and liabilities that qualify as financial instruments, determined in accordance with current guidance for disclosures on the fair value of financial instruments, in the following table.
We estimate the fair value of the securitized notes receivable using a discounted cash flow model. We believe this is comparable to the model that an independent third party would use in the current market. Our model uses default rates, prepayment rates, coupon rates and loan terms for our securitized notes receivable portfolio as key drivers of risk and relative value, that when applied in combination with pricing parameters, determines the fair value of the underlying notes receivable. We estimate the fair value of the portion of our non-securitized notes receivable that we believe will ultimately be securitized in the same manner as securitized notes receivable. We value the remaining non-securitized notes receivable at their carrying value, rather than using our pricing model. We believe that the carrying value of such notes receivable approximates fair value because the stated interest rates of these loans are consistent with current market rates and the reserve for these notes receivable appropriately accounts for risks in default rates, prepayment rates, and loan terms. We estimate the fair value of our senior, mezzanine, and other loans by discounting cash flows using risk-adjusted rates. We estimate the fair value of our cost method investments by applying a cap rate to stabilized earnings (a market approach). The carrying value of our restricted cash approximates its fair value. We estimate the fair value of our non-recourse debt associated with securitized notes receivable using internally generated cash flow estimates derived by modeling all bond tranches for our active notes receivable securitization transactions, with consideration for the collateral specific to each tranche. The key drivers in our analysis include default rates, prepayment rates, bond interest rates and other structural factors, which we use to estimate the projected cash flows. In order to estimate market credit spreads by rating, we reviewed market spreads from timeshare notes receivable securitizations and other asset-backed transactions that occurred in the market during the first half of 2011 and fiscal year 2010. We then applied those estimated market spreads to swap rates in order to estimate an underlying discount rate for calculating the fair value of the active bonds payable.
We estimate the fair value of our other long-term debt, excluding leases, using expected future payments discounted at risk-adjusted rates, and we determine the fair value of our senior notes using quoted market prices. At the end of the 2011 second quarter the carrying value of our commercial paper approximated its fair value due to the short maturity. Other long-term liabilities represent guarantee costs and reserves and deposit liabilities. The carrying values of our guarantee costs and reserves approximate their fair values. We estimate the fair value of our deposit liabilities primarily by discounting future payments at a risk-adjusted rate. We are required to carry our marketable securities at fair value. We value these securities using directly observable Level 1 inputs. The carrying value of our marketable securities at the end of our 2011 second quarter was $52 million, which included debt securities of the U.S. Government, its sponsored agencies and other U.S. corporations invested for our self-insurance programs as well as shares of a publicly traded company. During the 2011 second quarter, a company in which we owned an investment that we accounted for using the cost method became a publicly traded company. Accordingly, we reclassified the investment to marketable securities and now record our investment at fair value. As of the end of the 2011 second quarter, this investment had a fair value of $32 million, which was $10 million lower than our cost basis. We do not believe this investment is other-than-temporarily impaired based on the following factors: the operating performance of the underlying company; the relatively short time period that the company has been publicly traded; overall share price volatility in the lodging sector during the 2011 second quarter; and we have the intent and ability to hold this investment for the foreseeable future. We have reflected the unrealized loss in accumulated other comprehensive loss at June 17, 2011. We are also required to carry our derivative assets and liabilities at fair value. As of the end of our 2011 second quarter, we had derivative instruments in a long-term liability position of $1 million valued using Level 3 inputs. We value our Level 3 input derivatives using valuations that we calibrate to the initial trade prices, with subsequent valuations based on unobservable inputs to the valuation model, including interest rates and volatilities. See the “Fair Value Measurements” caption of Footnote No. 1, “Summary of Significant Accounting Policies” of our 2010 Form 10-K for additional information. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Earnings Per Share
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share |
The table below illustrates the reconciliation of the earnings and number of shares used in our calculations of basic and diluted earnings per share.
We compute the effect of dilutive securities using the treasury stock method and average market prices during the period. We determine dilution based on earnings. In accordance with the applicable accounting guidance for calculating earnings per share, we have not included the following stock options and SARs in our calculation of diluted earnings per share because the exercise prices were greater than the average market prices for the applicable periods:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Inventory
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventory |
Inventory, totaling $1,365 million as of June 17, 2011 and $1,489 million as of December 31, 2010, consists primarily of Timeshare segment interval, fractional ownership, and residential products totaling $1,346 million as of June 17, 2011 and $1,472 million as of December 31, 2010. Inventory totaling $19 million and $17 million as of June 17, 2011 and December 31, 2010, respectively, primarily relates to hotel operating supplies for the limited number of properties we own or lease. We primarily record Timeshare segment interval, fractional ownership, and residential products at the lower of cost or fair market value, in accordance with applicable accounting guidance, and we generally value operating supplies at the lower of cost (using the first-in, first-out method) or market. Consistent with recognized industry practice, we classify Timeshare segment interval, fractional ownership, and residential products inventory, which has an operating cycle that exceeds 12 months, as a current asset. We show the composition of our Timeshare segment inventory balances in the following table:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Property and Equipment
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property and Equipment |
We show the composition of our property and equipment balances in the following table:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Notes Receivable
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Notes Receivable |
We show the composition of our notes receivable balances (net of reserves and unamortized discounts) in the following table:
We classify notes receivable due within one year as current assets in the caption “Accounts and notes receivable” in our Balance Sheets. We show the composition of our long-term notes receivable balances (net of reserves and unamortized discounts) in the following table:
The following tables show future principal payments (net of reserves and unamortized discounts) as well as interest rates, reserves and unamortized discounts for our securitized and non-securitized notes receivable. Notes Receivable Principal Payments (net of reserves and unamortized discounts) and Interest Rates
Notes Receivable Reserves
Notes Receivable Unamortized Discounts (1)
Senior, Mezzanine, and Other Loans We reflect interest income associated with “Senior, mezzanine, and other loans” in the “Interest income” caption in our Income Statements. At the end of the 2011 second quarter, our recorded investment in impaired “Senior, mezzanine, and other loans” was $98 million. We had a $78 million notes receivable reserve representing an allowance for credit losses, leaving $20 million of our investment in impaired loans, for which we had no related allowance for credit losses. At year-end 2010, our recorded investment in impaired “Senior, mezzanine, and other loans” was $83 million, and we had a $74 million notes receivable reserve representing an allowance for credit losses, leaving $9 million of our investment in impaired loans, for which we had no related allowance for credit losses. During the 2011 and 2010 first halves, our average investment in impaired “Senior, mezzanine, and other loans” totaled $90 million and $143 million, respectively. The following table summarizes the activity related to our “Senior, mezzanine, and other loans” notes receivable reserve for the first half of 2011:
At the end of the 2011 second quarter, past due senior, mezzanine, and other loans totaled $6 million. Loans to Timeshare Owners We reflect interest income associated with “Loans to timeshare owners” of $37 million and $43 million for the 2011 and 2010 second quarters, respectively, and $76 million and $88 million for the twenty-four weeks ended June 17, 2011 and June 18, 2010, respectively, in our Income Statements in the “Timeshare sales and services” revenue caption. Of the $37 million of interest income we recognized from these loans in the 2011 second quarter, $30 million was associated with securitized loans and $7 million was associated with non-securitized loans, compared with $33 million associated with securitized loans and $10 million associated with non-securitized loans recognized in the 2010 second quarter. Of the $76 million of interest income we recognized in the first half of 2011, $62 million was associated with securitized loans and $14 million was associated with non-securitized loans, compared with $69 million associated with securitized loans and $19 million associated with non-securitized loans in the first half of 2010. The following table summarizes the activity related to our “Loans to timeshare owners” notes receivable reserve for the first half of 2011:
As of June 17, 2011 and year-end 2010, we estimated average remaining default rates of 7.76 percent and 9.25 percent, respectively, for both non-securitized and securitized timeshare notes receivable.
We show our recorded investment in nonaccrual “Loans to timeshare owners” loans in the following table:
We show the aging of the recorded investment (before reserves) in “Loans to timeshare owners” in the following table:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Long-term Debt
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-term Debt |
We provide detail on our long-term debt balances in the following table:
The non-recourse debt associated with securitized notes receivable was, and to the extent currently outstanding is, secured by the related notes receivable. All of our other long-term debt was, and to the extent currently outstanding is, recourse to us but unsecured. Other debt in the preceding table includes capital leases, among other items.
On June 23, 2011, after the end of the second quarter, we amended and restated our multicurrency revolving credit agreement (the “Credit Facility”) to extend the facility's expiration from May 14, 2012 to June 23, 2016 and reduce (at our direction) the facility size from $2.404 billion to $1.75 billion of aggregate effective borrowings. The material terms of the amended and restated Credit Facility are otherwise unchanged, and the facility continues to support general corporate needs, including working capital, capital expenditures, and letters of credit. The availability of the Credit Facility also supports our commercial paper program. Borrowings under the Credit Facility bear interest at LIBOR (the London Interbank Offered Rate) plus a spread, based on our public debt rating. We also pay quarterly fees on the Credit Facility at a rate also based on our public debt rating. While any outstanding commercial paper borrowings and/or borrowings under our Credit Facility generally have short-term maturities, we classify the outstanding borrowings as long-term based on our ability and intent to refinance the outstanding borrowings on a long-term basis. See the “Cash Requirements and Our Credit Facilities” caption later in this report in the “Liquidity and Capital Resources” section for information on our available borrowing capacity at June 17, 2011. Each of our securitized notes receivable pools contains various triggers relating to the performance of the underlying notes receivable. If a pool of securitized notes receivable fails to perform within the pool’s established parameters (default or delinquency thresholds by deal) transaction provisions effectively redirect the monthly excess spread we typically receive from that pool (related to the interests we retained), to accelerate the principal payments to investors based on the subordination of the different tranches until the performance trigger is cured. During the first quarter of 2011, one pool that reached a performance trigger at year-end 2010 returned to meeting performance thresholds, while one other pool reached a performance trigger. At the end of the first quarter of 2011, this was the only pool that was still not meeting performance thresholds. This pool returned to compliance during the 2011 second quarter. At the end of the 2011 second quarter, there were no pools out of compliance. As a result of performance triggers, a total of $2 million in cash of excess spread was used to pay down debt during the first half of 2011. At June 17, 2011, we had 13 securitized notes receivable pools outstanding. We show future principal payments (net of unamortized discounts) and unamortized discounts for our securitized and non-securitized debt in the following tables: Debt Principal Payments (net of unamortized discounts)
As the contractual terms of the underlying securitized notes receivable determine the maturities of the non-recourse debt associated with them, actual maturities may occur earlier due to prepayments by the notes receivable obligors. Unamortized Debt Discounts
We paid cash for interest, net of amounts capitalized, of $65 million in the first half of 2011 and $74 million in the first half of 2010. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
The entire disclosure for long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Comprehensive Income and Capital Structure
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Comprehensive Income and Capital Structure |
We detail comprehensive income in the following table:
The following table details changes in shareholders’ equity.
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Disclosure of comprehensive income and noncontrolling interest, including (1) changes in the components of other comprehensive income (loss), net of taxes; (2) comprehensive income attributable to noncontrolling interest; (3) the ending accumulated balances for each component of comprehensive income; (4) and the change in the components of the noncontrolling interest balance. No definition available.
|
|
Contingencies
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Contingencies |
Guarantees We issue guarantees to certain lenders and hotel owners, primarily to obtain long-term management contracts. The guarantees generally have a stated maximum amount of funding and a term of four to ten years. The terms of guarantees to lenders generally require us to fund if cash flows from hotel operations are inadequate to cover annual debt service or to repay the loan at the end of the term. The terms of the guarantees to hotel owners generally require us to fund if the hotels do not attain specified levels of operating profit. Guarantee fundings to lenders and hotel owners are generally recoverable as loans repayable to us out of future hotel cash flows and/or proceeds from the sale of hotels. We also enter into project completion guarantees with certain lenders in conjunction with hotels and Timeshare segment properties that we or our joint venture partners are building. We show the maximum potential amount of future fundings for guarantees where we are the primary obligor and the carrying amount of the liability for expected future fundings in the following table.
We included our liability for expected future fundings at June 17, 2011, in our Balance Sheet as follows: $3 million in the “Other current liabilities” and $60 million in the “Other long-term liabilities.”
Our guarantees listed in the preceding table include $24 million of operating profit guarantees that will not be in effect until the underlying properties open and we begin to operate the properties. The guarantees in the preceding table do not include the following:
In addition to the guarantees described in the preceding paragraphs, in conjunction with financing obtained for specific projects or properties owned by joint ventures in which we are a party, we may provide industry standard indemnifications to the lender for loss, liability, or damage occurring as a result of the actions of the other joint venture owner or our own actions. Commitments and Letters of Credit In addition to the guarantees noted in the preceding paragraphs, as of June 17, 2011, we had the following commitments outstanding:
At June 17, 2011, we had $78 million of letters of credit outstanding ($75 million under our Credit Facility and $3 million outside the Credit Facility), the majority of which related to our self-insurance programs. Surety bonds issued as of June 17, 2011, totaled $201 million, the majority of which federal, state and local governments requested in connection with our lodging operations, Timeshare segment operations, and self-insurance programs. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Business Segments
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Segments |
We are a diversified hospitality company with operations in five business segments:
In 2011, we changed the management reporting structure for properties located in Hawaii. In conjunction with that change, we now report revenues, financial results, assets, and liabilities for properties located in Hawaii in our North American segments rather than in our International segment. In addition, we now recognize in our Timeshare segment some base management fees we previously recognized in our International segment. For comparability, we have reclassified prior year segment revenues, segment financial results, and segment assets to reflect these changes. These reclassifications only affect our segment reporting, and do not change our total consolidated revenue, operating income, or net income or our total segment revenues or total segment financial results. We evaluate the performance of our segments based primarily on the results of the segment without allocating corporate expenses, income taxes, or indirect general, administrative, and other expenses. With the exception of our Timeshare segment, we do not allocate interest income or interest expense to our segments. We include interest income and interest expense associated with our Timeshare segment notes in our Timeshare segment results because financing sales and securitization transactions are an integral part of that segment’s business. In addition, we allocate other gains and losses, equity in earnings or losses from our joint ventures, divisional general, administrative, and other expenses, and income or losses attributable to noncontrolling interests to each of our segments. “Other unallocated corporate” represents that portion of our revenues, general, administrative, and other expenses, equity in earnings or losses, and other gains or losses that we do not allocate to our segments. We aggregate the brands presented within our North American Full-Service, North American Limited-Service, International, Luxury, and Timeshare segments considering their similar economic characteristics, types of customers, distribution channels, the regulatory business environment of the brands and operations within each segment and our organizational and management reporting structure.
Revenues
Net Income
Equity in Losses of Equity Method Investees
Assets
We estimate that the cash outflow associated with completing all phases of our existing portfolio of owned timeshare properties currently under development will be approximately $214 million. This estimate is based on our current development plans, which remain subject to change, and we expect the phases currently under development will be completed by 2016. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisitions
|
6 Months Ended | ||
|---|---|---|---|
|
Jun. 17, 2011
|
|||
| Acquisitions |
In the first quarter of 2011, we contributed approximately $51 million (€37 million) in cash for the intellectual property and associated 50 percent interests in two new joint ventures formed for the operation, management and development of AC Hotels by Marriott, initially in Europe but eventually in other parts of the world. The hotels will be managed by the joint ventures or franchised at the direction of the joint ventures. As noted in Footnote No. 12, “Contingencies,” we have a right and, in some circumstances, an obligation to acquire the remaining interest in the joint ventures over the next ten years. In the first quarter of 2011, we acquired certain assets and a leasehold on a hotel for an initial payment of $34 million (€25 million) in cash plus fixed annual rent. See Footnote No. 17, “Leases,” for additional information. As noted in Footnote No. 12, “Contingencies,” we also have a right and, in some circumstances, an obligation to acquire the landlord’s interest in the real estate property and attached assets of this hotel for $64 million (€45 million) during the next three years. |
| X | ||||||||||
|
- Definition
This element is used to capture disclosure pertaining to acquisitions and dispositions. For acquisitions, description of a business acquisition (or series of individually immaterial business combinations) planned, initiated, or completed during the period, including background, timing, and allocation of acquisition costs. For dispositions, disclosure includes the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain or loss recognized in the income statement and the income statement caption that includes that gain or loss, and the segment in which the disposal group was reported. No definition available.
|
|
Variable Interest Entities
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Variable Interest Entities |
In accordance with the applicable accounting guidance for the consolidation of variable interest entities, we analyze our variable interests, including loans, guarantees, and equity investments, to determine if an entity in which we have a variable interest is a variable interest entity. Our analysis includes both quantitative and qualitative reviews. We base our quantitative analysis on the forecasted cash flows of the entity, and our qualitative analysis on our review of the design of the entity, its organizational structure including decision-making ability, and relevant financial agreements. We also use our qualitative analyses to determine if we must consolidate a variable interest entity as its primary beneficiary. Variable interest entities related to our timeshare note securitizations We periodically securitize, without recourse, through special purpose entities, notes receivable originated by our Timeshare segment in connection with the sale of timeshare interval and fractional products. These securitizations provide funding for us and transfer the economic risks and substantially all the benefits of the loans to third parties. In a securitization, various classes of debt securities that the special purpose entities issue are generally collateralized by a single tranche of transferred assets, which consist of timeshare notes receivable. We service the notes receivable. With each securitization, we may retain a portion of the securities, subordinated tranches, interest-only strips, subordinated interests in accrued interest and fees on the securitized receivables or, in some cases, overcollateralization and cash reserve accounts. At June 17, 2011, consolidated assets on our Balance Sheet included collateral for the obligations of those variable interest entities with a carrying amount of $979 million, comprised of $114 million of current notes receivable and $799 million of long-term notes receivable (each net of reserves), $5 million of interest receivable and $47 million and $14 million, respectively, of current and long-term restricted cash. Further, at June 17, 2011, consolidated liabilities on our Balance Sheet included liabilities for those variable interest entities with a carrying amount of $900 million, comprised of $5 million of interest payable, $122 million of current portion of long-term debt, and $773 million of long-term debt. The noncontrolling interest balance for those entities was zero. The creditors of those entities do not have general recourse to us. As a result of our involvement with these entities, we recognized $62 million of interest income, offset by $24 million of interest expense to investors.
We show our cash flows to and from the timeshare notes securitization variable interest entities in the following table:
Under the terms of our timeshare note securitizations, we have the right at our option to repurchase defaulted mortgage notes at the outstanding principal balance. The transaction documents typically limit such repurchases to 10 to 20 percent of the transaction’s initial mortgage balance. We made voluntary repurchases of defaulted notes of $22 million during the first half of 2011 and $29 million during the first half of 2010. Our maximum exposure to loss relating to the entities that own these notes is the overcollateralization amount (the difference between the loan collateral balance and the balance on the outstanding notes), plus cash reserves and any residual interest in future cash flows from collateral. Other variable interest entities We have an equity investment in and a loan receivable due from a variable interest entity that develops and markets fractional ownership and residential interests. We concluded that the entity is a variable interest entity because the equity investment at risk is not sufficient to permit the entity to finance its activities without additional support from other parties. We have determined that we are not the primary beneficiary as power to direct the activities that most significantly impact economic performance of the entity is shared among the variable interest holders, and therefore we do not consolidate the entity. In 2009, we fully impaired our equity investment and certain loans receivable due from the entity. In 2010, the continued application of equity losses to our outstanding loan receivable balance reduced its carrying value to zero. We may fund up to an additional $16 million and do not expect to recover this amount, which we have accrued and included in current liabilities. We do not have any remaining exposure to loss related to this entity. In conjunction with the transaction with CTF described more fully in Footnote No. 8, “Acquisitions and Dispositions,” of our Annual Report on Form 10-K for 2007, under the caption “2005 Acquisitions,” we manage hotels on behalf of tenant entities 100 percent owned by CTF, which lease the hotels from third-party owners. Due to certain provisions in the management agreements, we account for these contracts as operating leases. At June 17, 2011, we managed ten hotels on behalf of three tenant entities. The entities have minimal equity and minimal assets comprised of hotel working capital and furniture, fixtures, and equipment. In conjunction with the 2005 transaction, CTF had placed money in a trust account to cover cash flow shortfalls and to meet rent payments. In turn, we released CTF from its guarantees fully in connection with seven of these properties and partially in connection with the other three properties. At the end of the 2011 first quarter, the trust account had been fully depleted. The tenant entities are variable interest entities because the holder of the equity investment at risk, CTF, lacks the ability through voting rights to make key decisions about the entities’ activities that have a significant effect on the success of the entities. We do not consolidate the entities because we do not bear the majority of the expected losses. We are liable for rent payments for seven of the ten hotels if there are cash flow shortfalls. Future minimum lease payments through the end of the lease term for these hotels totaled approximately $33 million. In addition, we are liable for rent payments of up to an aggregate cap of $16 million for the three other hotels if there are cash flow shortfalls. Our maximum exposure to loss is limited to the rent payments and certain other tenant obligations under the lease, for which we are secondarily liable. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Disclosure of variable interest entities (VIE), including, but not limited to the nature, purpose, size, and activities of the VIE, the carrying amount and classification of consolidated assets that are collateral for the VIE's obligations, lack of recourse if creditors (or beneficial interest holders) of a consolidated VIE have no recourse to the general credit of the primary beneficiary. An enterprise that holds a significant variable interest in a VIE but is not the primary beneficiary may disclose the nature of its involvement with the VIE and when that involvement began, the nature, purpose, size, and activities of the VIE and the enterprise's maximum exposure to loss as a result of its involvement with the VIE. No definition available.
|
|
Planned Spin-off
|
6 Months Ended | ||
|---|---|---|---|
|
Jun. 17, 2011
|
|||
| Planned Spin-off |
On February 14, 2011, we announced a plan to separate the company’s businesses into two separate, publicly traded companies. Under the plan, we expect to spin-off our timeshare operations and timeshare development business as a new independent company through a special tax-free dividend to our shareholders in late 2011. The new company will focus on the timeshare business as the exclusive developer and operator of timeshare, fractional, and related products under the Marriott brand and the exclusive developer of fractional and related products under The Ritz-Carlton brand. In the separation, we will retain the lodging management and franchise businesses. We expect to receive franchise fees totaling approximately two percent of developer contract sales plus $50 million annually for the new timeshare company’s use of the Marriott timeshare and Ritz-Carlton fractional brands. The franchise fee is also expected to include a periodic inflation adjustment. We also expect that the anticipated spin-off will result in the recognition over a number of years of several hundred million dollars of cash tax benefits to Marriott relating to the value of the timeshare business. The new timeshare company, Marriott Vacations Worldwide Corporation (“MVW”), filed an initial Form 10 registration statement with the SEC on June 28, 2011. We expect that the common stock of MVW will be listed on a national securities exchange. We do not expect that MVW will pay a quarterly cash dividend or be investment grade in the near term. The transaction is subject to final approval by our board of directors, the receipt of normal and customary regulatory approvals and third-party consents, the execution of inter-company agreements, receipt of a favorable ruling from the Internal Revenue Service, arrangement of adequate financing facilities, and other related matters. We anticipate the receipt of the IRS private-letter tax ruling in September, confirming that the distribution of shares of Marriott Vacations Worldwide common stock will not result in the recognition, for U.S. federal income tax purposes, of income, gain or loss by us or our shareholders, except, in the case of our shareholders, for cash received in lieu of fractional shares. The transaction will not require shareholder approval and will have no impact on Marriott’s contractual obligations to the existing securitizations. While we expect that the planned spin-off will be completed before year-end 2011, we cannot assure you that it will be completed on the anticipated schedule or that its terms will not change. See “Part II, Item 1A – Risk Factors” for certain risk factors relating to the Planned Spin-off Risks. Because of the anticipated continuing involvement between the companies, we do not expect the planned spin-off of the timeshare operations and timeshare development business to qualify under GAAP for discontinued operations presentation in our financial statements. |
| X | ||||||||||
|
- Definition
The disclosure of our planned spin off of our timeshare operations and timeshare development business as a new independent company through a special tax-free dividend to shareholders in late 2011. No definition available.
|
|
Leases
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases |
As noted in Footnote No. 14, “Acquisitions,” in the 2011 first quarter we acquired a leasehold on a hotel for an initial payment of $34 million (€25 million) in cash plus fixed annual rent. We account for this leasehold as a capital lease, and the following table details the aggregate minimum lease payments through the initial lease term, which ends in 2014:
See Footnote No. 21, “Leases,” of our 2010 Form 10-K for information regarding our other leases. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Policies
|
6 Months Ended |
|---|---|
|
Jun. 17, 2011
|
|
| Restricted Cash | Restricted Cash Restricted cash in our Balance Sheets at the end of the 2011 second quarter and year-end 2010 is recorded as $62 million and $55 million, respectively, in the “Other current assets” line and $114 million and $30 million, respectively, in the “Other long-term assets” line. Restricted cash primarily consists of cash proceeds of a note receivable that are restricted as collateral for other debt; cash held in a reserve account related to Timeshare segment notes receivable securitizations; cash held internationally that we have not repatriated due to statutory, tax and currency risks; and deposits received, primarily associated with timeshare interval, fractional ownership, and residential sales that are held in escrow until the contract has closed. |
| Accounting Standards Update No. 2010-06 - Provisions Effective in the 2011 First Quarter ("ASU No. 2010-06") | Accounting Standards Update No. 2010-06 – Provisions Effective in the 2011 First Quarter (“ASU No. 2010-06”) Certain provisions of ASU No. 2010-06 became effective during our 2011 first quarter. Those provisions, which amended Subtopic 820-10, require us to present as separate line items all purchases, sales, issuances, and settlements of financial instruments valued using significant unobservable inputs (Level 3) in the reconciliation of fair value measurements, in contrast to the previous aggregate presentation as a single line item. The adoption did not have a material impact on our financial statements or disclosures. |
| Future Adoption of Accounting Standards | Future Adoption of Accounting Standards Accounting Standards Update No. 2011-04 – “Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs” (“ASU No. 2011-04”) ASU No. 2011-04 generally provides a uniform framework for fair value measurements and related disclosures between GAAP and International Financial Reporting Standards (“IFRS”). Additional disclosure requirements in the update include: (1) for Level 3 fair value measurements, quantitative information about unobservable inputs used, a description of the valuation processes used by the entity, and a qualitative discussion about the sensitivity of the measurements to changes in the unobservable inputs; (2) for an entity’s use of a nonfinancial asset that is different from the asset’s highest and best use, the reason for the difference; (3) for financial instruments not measured at fair value but for which disclosure of fair value is required, the fair value hierarchy level in which the fair value measurements were determined; and (4) the disclosure of all transfers between Level 1 and Level 2 of the fair value hierarchy. ASU 2011-04 will be effective for interim and annual periods beginning on or after December 15, 2011, which for us will be our 2012 first quarter. We are currently evaluating the impact ASU 2011-04 will have on our financial statements. See the “Fair Value Measurements” caption of Footnote No. 1, “Summary of Significant Accounting Policies” of our 2010 Form 10-K for additional information on the three levels of fair value measurements. Accounting Standards Update No. 2011-05 – “Comprehensive Income (Topic 220): Presentation of Comprehensive Income” (“ASU No. 2011-05”) ASU No. 2011-05 amends existing guidance by allowing only two options for presenting the components of net income and other comprehensive income: (1) in a single continuous financial statement, statement of comprehensive income or (2) in two separate but consecutive financial statements, consisting of an income statement followed by a separate statement of other comprehensive income. Also, items that are reclassified from other comprehensive income to net income must be presented on the face of the financial statements. ASU No. 2011-05 requires retrospective application, and it is effective for fiscal years, and interim periods within those years, beginning after December 15, 2011 (for us this will be our 2012 first quarter), with early adoption permitted. We believe the adoption of this update will change the order in which certain financial statements are presented and provide additional detail on those financial statements when applicable, but will not have any other impact on our financial statements. |
| Cost Method Investments, Valuation Policy | We estimate the fair value of our cost method investments by
applying a cap rate to stabilized earnings (a market
approach). |
| Earnings Per Share, Dilutive Securities Policy | We compute the effect of dilutive securities using the
treasury stock method and average market prices during the period.
We determine dilution based on earnings. |
| Inventory Valuation Policy | We primarily record Timeshare segment interval, fractional
ownership, and residential products at the lower of cost or fair
market value, in accordance with applicable accounting guidance,
and we generally value operating supplies at the lower of cost
(using the first-in, first-out method) or market. Consistent with
recognized industry practice, we classify Timeshare segment
interval, fractional ownership, and residential products inventory,
which has an operating cycle that exceeds 12 months, as a current
asset. |
| X | ||||||||||
|
- Definition
Description of the adoption of ASU No. 2010-06 which did not have a material impact on our financial statements. No definition available.
|
| X | ||||||||||
|
- Definition
Description of New Accounting Pronouncements Not yet Adopted [Policy Text Block] No definition available.
|
| X | ||||||||||
|
- Definition
Policy for computing the effect of dilutive securities. No definition available.
|
| X | ||||||||||
|
- Definition
Policy for valuing inventory. No definition available.
|
| X | ||||||||||
|
- Definition
Entity's cash and cash equivalents accounting policy with respect to restricted balances. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Disclosure of accounting policy for the cost method of accounting for investments in common stock or other interests including unconsolidated subsidiaries, corporate joint ventures, noncontrolling interests in real estate ventures, limited partnerships, and limited liability companies. An entity also may describe how such investments are assessed for impairment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Share-Based Compensation (Tables) (Stock Appreciation Rights)
|
6 Months Ended | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
|||||||||||||||||||||||||
|
Stock Appreciation Rights
|
|||||||||||||||||||||||||
| Assumptions for the Employee SARs Granted | We used the following assumptions to determine the fair value of the Employee SARs granted during the first half of 2011.
|
| X | ||||||||||
|
- Definition
The assumptions used to calculate fair value for share-based compensation arrangements. No definition available.
|
|
Fair Value of Financial Instruments (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Carrying Values and Fair Values of Non-Current Financial Assets and Liabilities | We show the carrying values and the fair values of non-current financial assets and liabilities that qualify as financial instruments, determined in accordance with current guidance for disclosures on the fair value of financial instruments, in the following table.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Carrying Value and Fair Value of Financial Instruments Disclosure No definition available.
|
|
Earnings Per Share (Tables)
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reconciliation of the Earnings (Losses) and Number of Shares Used in Calculations of Basic and Diluted Earnings Per Share | The table below illustrates the reconciliation of the earnings and number of shares used in our calculations of basic and diluted earnings per share.
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Tabular disclosure of the numerators and the denominators of the basic and diluted per-share (or per-unit) computations for income from continuing operations, including the effect that has been given to preferred dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Inventory (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Composition of our Timeshare Segment Inventory Balances | We show the composition of our Timeshare segment inventory balances in the following table:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
The composition of Timeshare segment inventory. No definition available.
|
|
Property and Equipment (Tables)
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Composition of our Property and Equipment Balances | We show the composition of our property and equipment balances in the following table:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Disclosure of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, building and production equipment. No definition available.
|
|
Notes Receivable (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Composition of our Notes Receivable Balances (Net of Reserves and Unamortized Discounts) | We show the composition of our notes receivable balances (net of reserves and unamortized discounts) in the following table:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Composition of our Long Term Notes Receivable Balances (Net of Reserves and Unamortized Discounts) | We show the composition of our long-term notes receivable balances (net of reserves and unamortized discounts) in the following table:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Notes Receivable Principal Payments (Net of Reserves and Unamortized Discounts) and Interest Rates | The following tables show future principal payments (net of reserves and unamortized discounts) as well as interest rates, reserves and unamortized discounts for our securitized and non-securitized notes receivable. Notes Receivable Principal Payments (net of reserves and unamortized discounts) and Interest Rates
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Notes Receivable Reserves | Notes Receivable Reserves
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Notes Receivable Unamortized Discounts | Notes Receivable Unamortized Discounts (1)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Aging of the Recorded Investment in Loans to Timeshare Owners | We show the aging of the recorded investment (before reserves) in “Loans to timeshare owners” in the following table:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Senior, Mezzanine and Other Loans
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Notes Receivable Reserves | The following table summarizes the activity related to our “Senior, mezzanine, and other loans” notes receivable reserve for the first half of 2011:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Loans to timeshare owners
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Notes Receivable Reserves | The following table summarizes the activity related to our “Loans to timeshare owners” notes receivable reserve for the first half of 2011:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Securitized and Non-Securitized Timeshare Notes Receivable, Loans on Nonaccrual Status | We show our recorded investment in nonaccrual “Loans to timeshare owners” loans in the following table:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Financing Receivables Table No definition available.
|
| X | ||||||||||
|
- Definition
Long Term Notes Receivable, Balances, Net Of Reserves And Unamortized Discounts No definition available.
|
| X | ||||||||||
|
- Definition
Notes Receivable, Balances, Net Of Reserves No definition available.
|
| X | ||||||||||
|
- Definition
Notes Receivable, Unamortized Discounts No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of financing receivables (examples of financing receivables include loans, trade accounts receivable and notes receivable) and activity in the allowance for credit losses account. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the annual minimum payments due from financing receivables, such as, but not limited to accounts, notes, loans, and other financing receivables. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of nonaccrual and past due financing receivables (such as loans and trade receivables), including: (a) the recorded investment in loans and trade receivables, if applicable, on nonaccrual status as of each balance sheet date (b) the recorded investment in loans and trade receivables, if applicable, past due 90 days or more and still accruing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Long-term Debt (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-Term Debt | We provide detail on our long-term debt balances in the following table:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Principal Payments (Net of Unamortized Discounts) | We show future principal payments (net of unamortized discounts) and unamortized discounts for our securitized and non-securitized debt in the following tables: Debt Principal Payments (net of unamortized discounts)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Unamortized Debt Discounts | Unamortized Debt Discounts
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Maturities of Long-Term Debt Disclosures Net of Unamortized Discounts No definition available.
|
| X | ||||||||||
|
- Definition
Unamortized Discounts On Debt No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Comprehensive Income and Capital Structure (Tables)
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Comprehensive Income and Capital Structure (Table) | We detail comprehensive income in the following table:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Changes in Shareholders' Equity | The following table details changes in shareholders’ equity.
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Schedule Of Stockholders' Equity Rollforward No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of components of comprehensive income (loss) including, but not limited to: (a) foreign currency translation adjustments; (b) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (c) gains (losses) on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (d) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (e) unrealized holding gains (losses) on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (f) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (g) the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Contingencies (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Maximum Potential Amount of Future Fundings as the Primary Obligor for Guarantees and the Liability for Expected Future Fundings | We show the maximum potential amount of future fundings for guarantees where we are the primary obligor and the carrying amount of the liability for expected future fundings in the following table.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Tabular disclosure of each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Business Segments (Tables)
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenues | Revenues
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Income | Net Income
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity in Losses of Equity Method Investees | Equity in Losses of Equity Method Investees
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Assets (Table) | Assets
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
This element may be used to capture the complete disclosure for the identification, description, and amounts of all significant reconciling items in the reconciliation of total income before income taxes, which includes equity method income or loss and gains and other income, from reportable segments, to the entity's net income attributable to the parent before extraordinary items, discontinued operations, and the cumulative effect of changes in accounting principles. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tabular disclosure of each significant reconciling item, other than profit (loss), revenues, or assets, in the reconciliation of totals of such items in reportable segments to the entity's corresponding consolidated amount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Variable Interest Entities (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash Flows Between us and the Timeshare Notes Securitization Variable Interest Entities | We show our cash flows to and from the timeshare notes securitization variable interest entities in the following table:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Cash Flows Between Timeshare Securitization Special Purpose Entity SPE And Transferor Text Block No definition available.
|
|
Leases (Tables)
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The Aggregate Minimum Lease Payments Through the Initial Lease Term | the following table details the aggregate minimum lease payments through the initial lease term, which ends in 2014:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Tabular disclosure of future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Basis of Presentation - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
Jun. 17, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Basis of Presentation [Line Items] | ||
| Restricted cash, current | $ 62 | $ 55 |
| Restricted cash, noncurrent | $ 114 | $ 30 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cash and equivalents whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Income Taxes - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended |
|---|---|---|
|
Jun. 17, 2011
|
Jun. 17, 2011
|
|
| Income Taxes [Line Items] | ||
| Change in unrecognized tax benefits | $ 4 | $ 5 |
| Unrecognized tax benefits at the beginning of the period | 38 | 39 |
| Unrecognized tax benefits at the end of the period | 34 | 34 |
| Unrecognized tax benefits that, if recognized, would impact the effective tax rate | $ 20 | $ 20 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The gross amount of unrecognized tax benefits pertaining to uncertain tax positions taken in tax returns as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net amount of all increases and decreases in unrecognized tax benefits for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average exercise price at grant for share-based awards issued during the period on other than stock option plans (for example, phantom stock plan, stock appreciation rights plan, performance target plan). No definition available.
|
| X | ||||||||||
|
- Definition
Share based Compensation Arrangement by Share based Payment Award, Equity Instruments Other than Options, Outstanding, Contractual Term No definition available.
|
| X | ||||||||||
|
- Definition
Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate number of common shares reserved for future issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate carrying value as of the balance sheet date of the liabilities for stock option plans and other equity-based compensation arrangements. No definition available.
|
| X | ||||||||||
|
- Definition
Description of the period of time over which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, which may be expressed in a variety of ways (for example, in years, month and year). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Assumptions for the Employee SARs Granted (Detail) (Stock Appreciation Rights)
|
6 Months Ended |
|---|---|
|
Jun. 17, 2011
Year
|
|
|
Stock Appreciation Rights
|
|
| Share based Compensation Arrangement by Share based Payment Award, Fair Value Assumptions, Method Used [Line Items] | |
| Expected volatility | 32.00% |
| Dividend yield | 0.73% |
| Risk-free rate | 3.40% |
| Expected term (in years) | 8 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The period of time an equity-based award is expected to be outstanding. An equity-based award's expected term is generally determined based on, among other factors, the instrument's contractual term and the effects of employees' expected exercise and post-vesting employment termination behavior. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The current and non-current portion of the entity's non-recourse debt. Non-recourse debt is secured by the capital stock, physical assets, contracts and cash flows of the related entity. The risk is limited to the respective entity's business and is without recourse to the Parent Company and other subsidiaries or entities. No definition available.
|
| X | ||||||||||
|
- Definition
Amounts due from timeshare owners that were not previously securitized through qualified special purpose entities. No definition available.
|
| X | ||||||||||
|
- Definition
Senior, mezzanine, and other loans due from other than timeshare owners. No definition available.
|
| X | ||||||||||
|
- Definition
Amounts due from timeshare owners that were previously securitized through qualified special purpose entities and are now consolidated. No definition available.
|
| X | ||||||||||
|
- Definition
Total of all financial instruments that are assets. No definition available.
|
| X | ||||||||||
|
- Definition
Total of all financial instruments that are liabilities. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the aggregate carrying amount of all cost-method investments as reported on or included in the balance sheet. The original cost of the investments may differ from the aggregate carrying amount disclosed due to various adjustments such as: (i) dividends received in excess of earnings after the date of investment that are considered a return of investment and therefore recorded as reductions to cost of the investment, or (ii) a series of operating losses of an investee or other factors which may indicate that a decrease in value of the investment has occurred which is other than temporary and accordingly such decrease in value has been recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of long-term unsecured obligations issued by corporations and other borrowers to investors (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total debt and equity financial instruments including: (1) securities held-to-maturity, (2) trading securities, and (3) securities available-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate carrying amount, as of the balance sheet date, of liabilities not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including both current and noncurrent portions, carrying amount as of the balance sheet date of other forms of debt not elsewhere specified in the taxonomy with initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. This element is for unclassified presentations; for classified presentations there is a separate and distinct element. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Fair Value of Financial Instruments - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 17, 2011
|
Jun. 18, 2010
|
Jun. 17, 2011
|
Jun. 18, 2010
|
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Unrealized losses on available-for-sale securities | $ (10) | $ 0 | $ (10) | $ 0 |
|
Fair Value, Inputs, Level 1
|
||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of our marketable securities | 52 | 52 | ||
| Investment reclassified to marketable securities | 32 | 32 | ||
|
Fair Value, Inputs, Level 3
|
||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative instruments, long-term liability position | $ 1 | $ 1 | ||
| X | ||||||||||
|
- Definition
Fair value of investment reclassified to marketable securities. No definition available.
|
| X | ||||||||||
|
- Definition
Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of after one year or beyond the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total debt and equity financial instruments including: (1) securities held-to-maturity, (2) trading securities, and (3) securities available-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Appreciation or loss in value (before reclassification adjustment) of the total of unsold securities during the period being reported on, net of tax. Reclassification adjustments include: (1) the unrealized holding gain (loss), net of tax, at the date of the transfer for a debt security from the held-to-maturity category transferred into the available-for-sale category. Also includes the unrealized gain (loss) at the date of transfer for a debt security from the available-for-sale category transferred into the held-to-maturity category; (2) the unrealized gains (losses) realized upon the sale of securities, after tax; and (3) the unrealized gains (losses) realized upon the write-down of securities, after tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Reconciliation of the Earnings (Losses) and Number of Shares Used in Calculations of Basic and Diluted Earnings Per Share (Detail) (USD $)
In Millions, except Per Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 17, 2011
|
Jun. 18, 2010
|
Jun. 17, 2011
|
Jun. 18, 2010
|
|
| Computation of Basic Earnings Per Share | ||||
| Net income | $ 135 | $ 119 | $ 236 | $ 202 |
| Weighted average shares outstanding | 356.9 | 362.1 | 362.0 | 360.7 |
| Basic earnings per share | $ 0.38 | $ 0.33 | $ 0.65 | $ 0.56 |
| Computation of Diluted Earnings Per Share | ||||
| Net income | $ 135 | $ 119 | $ 236 | $ 202 |
| Weighted average shares outstanding | 356.9 | 362.1 | 362.0 | 360.7 |
| Effect of dilutive securities | ||||
| Employee stock option and SARs plans | 9.1 | 11.5 | 9.8 | 10.7 |
| Deferred stock incentive plans | 0.9 | 1.1 | 0.9 | 1.2 |
| Restricted stock units | 2.5 | 2.7 | 3.2 | 2.9 |
| Shares for diluted earnings per share | 369.4 | 377.4 | 375.9 | 375.5 |
| Diluted earnings per share | $ 0.37 | $ 0.31 | $ 0.63 | $ 0.54 |
| X | ||||||||||
|
- Definition
Incremental Common Shares Attributable To Deferred Stock incentive Plans No definition available.
|
| X | ||||||||||
|
- Definition
Incremental Common Shares Attributable to Restricted Stock Units No definition available.
|
| X | ||||||||||
|
- Definition
Incremental Common Shares Attributable To Stock Options And Stock Appreciation Right Plans No definition available.
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Earnings Per Share - Additional Information (Detail) (USD $)
In Millions, except Per Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 17, 2011
|
Jun. 18, 2010
|
Jun. 17, 2011
|
Jun. 18, 2010
|
|
| Earnings Per Share Disclosure [Line Items] | ||||
| Stock options and SARs not included in the calculation of diluted earnings per share because exercise prices exceeded market prices | 1.0 | 2.5 | 1.0 | 3.7 |
|
Lower Limit
|
||||
| Earnings Per Share Disclosure [Line Items] | ||||
| Stock options and SARs not included in the calculation of diluted earning per share because exerise prices exceeded market prices, exercise prices range | $ 36.22 | $ 34.11 | $ 40.84 | $ 31.05 |
|
Upper Limit
|
||||
| Earnings Per Share Disclosure [Line Items] | ||||
| Stock options and SARs not included in the calculation of diluted earning per share because exerise prices exceeded market prices, exercise prices range | $ 49.03 | $ 49.03 | $ 49.03 | $ 49.03 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Exercise Price, stock options and SARs not included in the calculation of diluted earnings per share because exercise prices exceeded average market prices for the applicable periods. No definition available.
|
| X | ||||||||||
|
- Definition
Stock options and SARs not included in the calculation of diluted earnings per share because exercise prices exceeded average market prices for the applicable periods. No definition available.
|
|
Inventory - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
Jun. 17, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Inventory Disclosure [Line Items] | ||
| Inventory | $ 1,365 | $ 1,489 |
| Inventory, hotel operating supplies for owned or leased properties | 19 | 17 |
|
Timeshare Segment
|
||
| Inventory Disclosure [Line Items] | ||
| Inventory | $ 1,346 | $ 1,472 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of hotel operating supplies for owned or leased properties. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Composition of our Timeshare Segment Inventory Balances (Detail) (USD $)
In Millions, unless otherwise specified |
Jun. 17, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Inventory | $ 1,365 | $ 1,489 |
|
Timeshare Segment
|
||
| Finished goods | 582 | 732 |
| Work-in-process | 240 | 101 |
| Land and infrastructure | 524 | 639 |
| Inventory | $ 1,346 | $ 1,472 |
| X | ||||||||||
|
- Definition
This represents inventory that consists of common costs (general site development) allocated to Timeshare phases that have not started construction as well as land. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of merchandise or goods held by the company that are readily available for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of merchandise or goods which are partially completed, are generally comprised of raw materials, labor and factory overhead costs, and which require further materials, labor and overhead to be converted into finished goods, and which generally require the use of estimates to determine percentage complete and pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Composition of our Property and Equipment Balances (Detail) (USD $)
In Millions, unless otherwise specified |
Jun. 17, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Property, Plant and Equipment [Line Items] | ||
| Land | $ 614 | $ 514 |
| Buildings and leasehold improvements | 963 | 854 |
| Furniture and equipment | 1,067 | 984 |
| Construction in progress | 143 | 204 |
| Property, Plant and Equipment, Gross, Total | 2,787 | 2,556 |
| Accumulated depreciation | (1,304) | (1,249) |
| Property and equipment | $ 1,483 | $ 1,307 |
| X | ||||||||||
|
- Definition
Carrying amount at the balance sheet date of long-lived, depreciable assets that include building structures held for productive use including any addition, improvement, or renovation to the structure as well as the addition of improvements to assets held under lease arrangements. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount at the balance sheet date of furniture and equipment. No definition available.
|
| X | ||||||||||
|
- Definition
The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross amount, at the balance sheet date, of long-lived assets under construction that include construction costs to date on capital projects that have not been completed and assets being constructed that are not ready to be placed into service. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of real estate held for productive use. This excludes land held for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross amount, at the balance sheet date, of long-lived physical assets used in the normal conduct of business and not intended for resale. This can include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
An amount representing an agreement for an unconditional promise by the maker to pay the Company (holder) a definite sum of money within one year from the balance sheet date (or the normal operating cycle, whichever is longer), net of any write-downs taken for collection uncertainty on the part of the holder. Such amount may include accrued interest receivable in accordance with the terms of the debt. The debt also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. This amount does not include amounts related to receivables held-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
An amount representing an agreement for an unconditional promise by the maker to pay the Entity (holder) a definite sum of money at a future date more than one year from the balance sheet date, net of any write-downs taken for collection uncertainty on the part of the holder. Such amount may include accrued interest receivable in accordance with the terms of the debt. The debt also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. This amount does not include amounts related to receivables held-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, an amount representing an agreement for an unconditional promise by the maker to pay the Entity (holder) a definite sum of money at a future date, net of any write-downs taken for collection uncertainty on the part of the holder. Such amount may include accrued interest receivable in accordance with the terms of the note. The note also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. This amount does not include amounts related to receivables held-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Composition of Long Term Notes Receivable Balances (Net of Reserves and Unamortized Discounts) (Detail) (USD $)
In Millions, unless otherwise specified |
Jun. 17, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Notes receivable | $ 1,127 | $ 1,264 |
|
Loans to timeshare owners
|
||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Notes receivable | 1,016 | 1,080 |
|
Loans to equity method investees
|
||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Notes receivable | 2 | 2 |
|
Other notes receivable
|
||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Notes receivable | $ 109 | $ 182 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
An amount representing an agreement for an unconditional promise by the maker to pay the Entity (holder) a definite sum of money at a future date more than one year from the balance sheet date, net of any write-downs taken for collection uncertainty on the part of the holder. Such amount may include accrued interest receivable in accordance with the terms of the debt. The debt also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. This amount does not include amounts related to receivables held-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future Principal Payments On Notes Receivable After Year Five No definition available.
|
| X | ||||||||||
|
- Definition
Future Principal Payments On Notes Receivable In Year Five No definition available.
|
| X | ||||||||||
|
- Definition
Future Principal Payments On Notes Receivable In Year Four No definition available.
|
| X | ||||||||||
|
- Definition
Future Principal Payments On Notes Receivable In Year Three No definition available.
|
| X | ||||||||||
|
- Definition
Future Principal Payments On Notes Receivable In Year Two No definition available.
|
| X | ||||||||||
|
- Definition
Future Principal Payments On Notes Receivable Within Year One No definition available.
|
| X | ||||||||||
|
- Definition
Upper limit of range of stated interest rates for total notes receivable as of the balance sheet date indicated. No definition available.
|
| X | ||||||||||
|
- Definition
Lower limit of range of stated interest rates for total notes receivable as of the balance sheet date indicated. No definition available.
|
| X | ||||||||||
|
- Definition
Weighted average interest rate for total notes receivable as of the balance sheet date indicated. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, an amount representing an agreement for an unconditional promise by the maker to pay the Entity (holder) a definite sum of money at a future date, net of any write-downs taken for collection uncertainty on the part of the holder. Such amount may include accrued interest receivable in accordance with the terms of the note. The note also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. This amount does not include amounts related to receivables held-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Notes Receivable Reserves (Detail) (USD $)
In Millions, unless otherwise specified |
Jun. 17, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Financing Receivable, Allowance for Credit Losses [Line Items] | ||
| Notes Receivable Reserves Balance | $ 273 | $ 292 |
|
Nonsecuritized Notes Receivable
|
||
| Financing Receivable, Allowance for Credit Losses [Line Items] | ||
| Notes Receivable Reserves Balance | 200 | 203 |
|
Securitized Notes Receivable
|
||
| Financing Receivable, Allowance for Credit Losses [Line Items] | ||
| Notes Receivable Reserves Balance | $ 73 | $ 89 |
| X | ||||||||||
|
- Definition
A valuation allowance for financing receivables that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Notes Receivable Unamortized Discounts (Detail) (USD $)
In Millions, unless otherwise specified |
Jun. 17, 2011
|
Dec. 31, 2010
|
||||
|---|---|---|---|---|---|---|
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Notes Receivable Unamortized Discounts Balance | $ 13 | [1] | $ 13 | [1] | ||
|
Nonsecuritized Notes Receivable
|
||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Notes Receivable Unamortized Discounts Balance | 13 | [1] | 13 | [1] | ||
|
Securitized Notes Receivable
|
||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Notes Receivable Unamortized Discounts Balance | $ 0 | [1] | $ 0 | [1] | ||
|
||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Disclosure of the unamortized amount of the discount on the note or receivable which is deducted from the face amount of the receivable or loan. The discount or premium is the difference between the present value and the face amount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Estimated average remaining default rates for outstanding timeshare notes receivable. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
A valuation allowance for financing receivables that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Recorded Investment in financing receivables that are past due at the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average recorded investment related to impaired financing receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The recorded investment related to impaired financing receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Revenue associated with the selling of time shares, a form of property ownership under which a property is held by a number of people, each with a right of possession for a specified time interval. Time sharing is most commonly applied to resort and vacation properties; also known as vacation interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Activity Related to "Senior, mezzanine, and other loans" Notes Receivable Reserve (Detail) (USD $)
In Millions, unless otherwise specified |
6 Months Ended | ||
|---|---|---|---|
|
Jun. 17, 2011
|
Dec. 31, 2010
|
Jun. 17, 2011
Senior, Mezzanine and Other Loans
|
|
| Financing Receivable, Allowance for Credit Losses [Line Items] | |||
| Beginning Balance | $ 273 | $ 292 | $ 74 |
| Additions | 1 | ||
| Reversals | (6) | ||
| Transfers and other | 9 | ||
| Ending Balance | $ 273 | $ 292 | $ 78 |
| X | ||||||||||
|
- Definition
Financing receivable allowance for credit losses, other adjustments No definition available.
|
| X | ||||||||||
|
- Definition
Reduction to the allowance for credit losses related to improved cash flows of underlying property. No definition available.
|
| X | ||||||||||
|
- Definition
A valuation allowance for financing receivables that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Charge to expense for financing receivables that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Activity Related to "Loans to timeshare owners" Notes Receivable Reserve (Detail) (USD $)
In Millions, unless otherwise specified |
6 Months Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
Dec. 31, 2010
|
Jun. 17, 2011
Nonsecuritized Notes Receivable
|
Dec. 31, 2010
Nonsecuritized Notes Receivable
|
Jun. 17, 2011
Securitized Notes Receivable
|
Dec. 31, 2010
Securitized Notes Receivable
|
Jun. 17, 2011
Loans to timeshare owners
|
Jun. 17, 2011
Loans to timeshare owners
Nonsecuritized Notes Receivable
|
Jun. 17, 2011
Loans to timeshare owners
Securitized Notes Receivable
|
||||||||
| Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||||||||
| Beginning Balance | $ 273 | $ 292 | $ 200 | $ 203 | $ 73 | $ 89 | $ 218 | $ 129 | $ 89 | |||||||
| Additions for current year securitizations | 14 | 14 | 0 | |||||||||||||
| Write-offs | (38) | (38) | 0 | |||||||||||||
| Defaulted note repurchase activity | 0 | [1] | 22 | [1] | (22) | [1] | ||||||||||
| Other | 1 | [2] | (5) | [2] | 6 | [2] | ||||||||||
| Ending Balance | $ 273 | $ 292 | $ 200 | $ 203 | $ 73 | $ 89 | $ 195 | $ 122 | $ 73 | |||||||
|
||||||||||||||||
| X | ||||||||||
|
- Definition
Financing receivable allowance for credit losses, other adjustments No definition available.
|
| X | ||||||||||
|
- Definition
Financing receivable allowance for credit losses, repurchase activity No definition available.
|
| X | ||||||||||
|
- Definition
A valuation allowance for financing receivables that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Charge to expense for financing receivables that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reduction to the allowance for credit losses related to financing receivables deemed uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Securitized and Non-Securitized Loans to Timeshare Owners, Loans on Nonaccrual Status (Detail) (Loans to timeshare owners, USD $)
In Millions, unless otherwise specified |
6 Months Ended | ||
|---|---|---|---|
|
Jun. 17, 2011
|
Jun. 18, 2010
|
Dec. 31, 2010
|
|
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
| Investment in loans on nonaccrual status | $ 121 | $ 128 | |
| Average investment in loans on non-accrual status | 124 | 126 | |
|
Nonsecuritized Notes Receivable
|
|||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
| Investment in loans on nonaccrual status | 103 | 113 | |
| Average investment in loans on non-accrual status | 108 | 115 | |
|
Securitized Notes Receivable
|
|||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
| Investment in loans on nonaccrual status | 18 | 15 | |
| Average investment in loans on non-accrual status | $ 16 | $ 11 | |
| X | ||||||||||
|
- Definition
Average of recorded investment in financing receivables that are on nonaccrual status during each period. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Recorded investment in financing receivables that are on nonaccrual status as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Aging of the Recorded Investment in Loans to Timeshare Owners (Detail) (Loans to timeshare owners, USD $)
In Millions, unless otherwise specified |
Jun. 17, 2011
|
|---|---|
|
Loans to timeshare owners
|
|
| Financing Receivable, Recorded Investment, Past Due [Line Items] | |
| 31 - 90 days past due | $ 33 |
| 91 - 150 days past due | 20 |
| Greater than 150 days past due | 101 |
| Total past due | 154 |
| Current | 1,229 |
| Total loans to timeshare owners | $ 1,383 |
| X | ||||||||||
|
- Definition
Financing Receivable, Recorded Investment, 31 to 90 Days Past Due No definition available.
|
| X | ||||||||||
|
- Definition
Financing Receivable, Recorded Investment, 91 to 150 Days Past Due No definition available.
|
| X | ||||||||||
|
- Definition
Financing Receivable, Recorded Investment, Before Reserves No definition available.
|
| X | ||||||||||
|
- Definition
Financing Receivable, Recorded Investment, Greater Than 150 Days Past Due No definition available.
|
| X | ||||||||||
|
- Definition
Financing receivables that are current. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Recorded Investment in financing receivables that are past due at the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The current and non-current portion of the entity's non-recourse debt. Non-recourse debt is secured by the capital stock, physical assets, contracts and cash flows of the related entity. The risk is limited to the respective entity's business and is without recourse to the Parent Company and other subsidiaries or entities. No definition available.
|
| X | ||||||||||
|
- Definition
The current portion of the entity's non-recourse debt. Non-recourse debt is secured by the capital stock, physical assets, contracts and cash flows of the related entity. The risk is limited to the respective entity's business and is without recourse to the Parent Company and other subsidiaries or entities. No definition available.
|
| X | ||||||||||
|
- Definition
The non-current portion of the entity's non-recourse debt. Non-recourse debt is secured by the capital stock, physical assets, contracts and cash flows of the related entity. The risk is limited to the respective entity's business and is without recourse to the Parent Company and other subsidiaries or entities. No definition available.
|
| X | ||||||||||
|
- Definition
Recourse Debt No definition available.
|
| X | ||||||||||
|
- Definition
The current portion of the entity's recourse debt. Recourse debt is direct borrowings by the Parent Company. No definition available.
|
| X | ||||||||||
|
- Definition
The non-current portion of the entity's recourse debt. Recourse debt is direct borrowings by the Parent Company. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount borrowed under the credit facility as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of long-term unsecured obligations issued by corporations and other borrowers to investors (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including both current and noncurrent portions, carrying amount as of the balance sheet date of other forms of debt not elsewhere specified in the taxonomy with initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Long-Term Debt (Parenthetical) (Detail) (USD $)
In Millions, unless otherwise specified |
Jun. 17, 2011
|
|---|---|
| Debt Instrument [Line Items] | |
| $2,404 Effective Credit Facility, borrowing capacity | $ 2,404 |
|
Non Recourse Debt
|
|
| Debt Instrument [Line Items] | |
| Long-term debt, average interest rate | 4.97% |
|
Non Recourse Debt | Lower Limit
|
|
| Debt Instrument [Line Items] | |
| Debt instrument, stated interest rate | 0.27% |
|
Non Recourse Debt | Upper Limit
|
|
| Debt Instrument [Line Items] | |
| Debt instrument, stated interest rate | 7.20% |
|
Series F, Senior Notes 4.625% Due June 15, 2012
|
|
| Debt Instrument [Line Items] | |
| Debt instrument, stated interest rate | 4.625% |
| Senior Notes, face amount | 348 |
| Senior Notes, effective interest rate | 5.01% |
|
Series G, Senior Notes 5.810% Due November 10, 2015
|
|
| Debt Instrument [Line Items] | |
| Debt instrument, stated interest rate | 5.81% |
| Senior Notes, face amount | 316 |
| Senior Notes, effective interest rate | 6.52% |
|
Series H, Senior Notes 6.200% Due June 15, 2016
|
|
| Debt Instrument [Line Items] | |
| Debt instrument, stated interest rate | 6.20% |
| Senior Notes, face amount | 289 |
| Senior Notes, effective interest rate | 6.28% |
|
Series I, Senior Notes 6.375% Due June 15, 2017
|
|
| Debt Instrument [Line Items] | |
| Debt instrument, stated interest rate | 6.375% |
| Senior Notes, face amount | 293 |
| Senior Notes, effective interest rate | 6.43% |
|
Series J, Senior Notes 5.625% Due February 15, 2013
|
|
| Debt Instrument [Line Items] | |
| Debt instrument, stated interest rate | 5.625% |
| Senior Notes, face amount | $ 400 |
| Senior Notes, effective interest rate | 5.69% |
|
Commercial Paper
|
|
| Debt Instrument [Line Items] | |
| Long-term debt, average interest rate | 0.3523% |
| X | ||||||||||
|
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reflects the calculation as of the balance sheet date of the average interest rate weighted by the amount of long-term debt outstanding by type or by instrument at that time. No definition available.
|
|
Long-term Debt - Additional Information (Detail) (USD $)
|
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 17, 2011
Contract
|
Mar. 25, 2011
Contract
|
Jun. 17, 2011
Contract
|
Jun. 18, 2010
|
|
| Debt Instrument [Line Items] | ||||
| Multicurrency revolving credit agreement, aggregate effective borrowings | $ 2,404,000,000 | $ 2,404,000,000 | ||
| Number of securitized notes receivable pools previously under performance triggers that returned to compliance | 1 | 1 | ||
| Number of securitized notes receivable pools that reached performance triggers | 1 | |||
| Number of securitized notes receivable pools out of compliance with performance triggers | 0 | 1 | ||
| Number of consolidated notes receivable pools outstanding | 13 | |||
| Cash paid for interest, net of amounts capitalized | 65,000,000 | 74,000,000 | ||
|
Subsequent Event
|
||||
| Debt Instrument [Line Items] | ||||
| Subsequent event date | Jun. 23, 2011 | |||
| Amended multicurrency revolving credit agreement, aggregate effective borrowings | 1,750,000,000 | 1,750,000,000 | ||
|
Securitized Notes Receivable | Performance Triggers
|
||||
| Debt Instrument [Line Items] | ||||
| Cash flows redirected as a result of reaching performance triggers | $ 2,000,000 | |||
| X | ||||||||||
|
- Definition
Amended maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. No definition available.
|
| X | ||||||||||
|
- Definition
Number of Consolidated Notes Receivable Pools No definition available.
|
| X | ||||||||||
|
- Definition
Number of Notes Receivable Pools Back Into Compliance No definition available.
|
| X | ||||||||||
|
- Definition
Number of Notes Receivable Pools Out of Compliance No definition available.
|
| X | ||||||||||
|
- Definition
Number of Notes Receivable Pools Under Performance Triggers No definition available.
|
| X | ||||||||||
|
- Definition
Decrease for amounts repaid on the debt instrument for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of cash paid for interest during the period net of cash paid for interest that is capitalized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Date of subsequent event occurrence or of indication that subsequent event occurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Debt Principal Payments (Net of Unamortized Discounts) (Detail) (USD $)
In Millions, unless otherwise specified |
Jun. 17, 2011
|
|---|---|
| Debt Instrument [Line Items] | |
| 2011 | $ 76 |
| 2012 | 641 |
| 2013 | 544 |
| 2014 | 202 |
| 2015 | 438 |
| Thereafter | 1,021 |
| Ending balance | 2,922 |
|
Non Recourse Debt
|
|
| Debt Instrument [Line Items] | |
| 2011 | 70 |
| 2012 | 124 |
| 2013 | 129 |
| 2014 | 131 |
| 2015 | 125 |
| Thereafter | 316 |
| Ending balance | 895 |
|
Recourse Debt
|
|
| Debt Instrument [Line Items] | |
| 2011 | 6 |
| 2012 | 517 |
| 2013 | 415 |
| 2014 | 71 |
| 2015 | 313 |
| Thereafter | 705 |
| Ending balance | $ 2,027 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Including current and noncurrent portions, aggregate carrying amount of long-term borrowings as of the balance sheet date. May include notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, which had initial maturities beyond one year or beyond the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturities after year five following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing within the next twelve months following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing in year five following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing in year four following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing in year three following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing in year two following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Unamortized Debt Discounts (Detail) (USD $)
In Millions, unless otherwise specified |
Jun. 17, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Debt Instrument [Line Items] | ||
| Unamortized discount balance | $ 14 | $ 16 |
|
Non Recourse Debt
|
||
| Debt Instrument [Line Items] | ||
| Unamortized discount balance | 0 | 0 |
|
Recourse Debt
|
||
| Debt Instrument [Line Items] | ||
| Unamortized discount balance | $ 14 | $ 16 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Comprehensive Income and Capital Structure (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 17, 2011
|
Jun. 18, 2010
|
Jun. 17, 2011
|
Jun. 18, 2010
|
|
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
| Net income | $ 135 | $ 119 | $ 236 | $ 202 |
| Other comprehensive income (loss), net of tax: | ||||
| Foreign currency translation adjustments | 10 | (6) | 15 | (19) |
| Other derivative instrument adjustments | (13) | 1 | (14) | 1 |
| Unrealized losses on available-for-sale securities | (10) | 0 | (10) | 0 |
| Total other comprehensive loss, net of tax | (13) | (5) | (9) | (18) |
| Comprehensive income | $ 122 | $ 114 | $ 227 | $ 184 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net of tax effect change in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges after taxes. A cash flow hedge is a hedge of the exposure to variability in the cash flows of a recognized asset or liability or a forecasted transaction that is attributable to a particular risk. The change includes an entity's share of an equity investee's increase or decrease in deferred hedging gains or losses. While for technical reasons this element has no balance attribute, the default assumption is a credit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency of the reporting entity, net of tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents Other Comprehensive Income or Loss, Net of Tax, for the period. Includes deferred gains or losses on qualifying hedges, unrealized holding gains or losses on available-for-sale securities, minimum pension liability, and cumulative translation adjustment. While for technical reasons this element has no balance attribute, the default assumption is a credit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Appreciation or loss in value (before reclassification adjustment) of the total of unsold securities during the period being reported on, net of tax. Reclassification adjustments include: (1) the unrealized holding gain (loss), net of tax, at the date of the transfer for a debt security from the held-to-maturity category transferred into the available-for-sale category. Also includes the unrealized gain (loss) at the date of transfer for a debt security from the available-for-sale category transferred into the held-to-maturity category; (2) the unrealized gains (losses) realized upon the sale of securities, after tax; and (3) the unrealized gains (losses) realized upon the write-down of securities, after tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Changes in Shareholders' Equity (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 17, 2011
|
Jun. 18, 2010
|
Jun. 17, 2011
|
Jun. 18, 2010
|
|
| Stockholders Equity Note [Line Items] | ||||
| Beginning Balance | $ 1,585 | |||
| Net income | 135 | 119 | 236 | 202 |
| Other comprehensive loss | (13) | (5) | (9) | (18) |
| Cash dividends ($0.1875 per share) | (68) | |||
| Employee stock plan issuance | 67 | |||
| Purchase of Treasury stock | (675) | |||
| Ending Balance | 1,136 | 1,136 | ||
|
Common Stock
|
||||
| Stockholders Equity Note [Line Items] | ||||
| Beginning Balance | 5 | |||
| Net income | 0 | |||
| Other comprehensive loss | 0 | |||
| Cash dividends ($0.1875 per share) | 0 | |||
| Employee stock plan issuance | 0 | |||
| Purchase of Treasury stock | 0 | |||
| Ending Balance | 5 | 5 | ||
| Beginning Balance | 366.9 | |||
| Employee stock plan issuance | 4.6 | |||
| Purchase of Treasury stock | (18.5) | |||
| Ending Balance | 353.0 | 353.0 | ||
|
Additional Paid-in Capital
|
||||
| Stockholders Equity Note [Line Items] | ||||
| Beginning Balance | 3,644 | |||
| Net income | 0 | |||
| Other comprehensive loss | 0 | |||
| Cash dividends ($0.1875 per share) | 0 | |||
| Employee stock plan issuance | (29) | |||
| Purchase of Treasury stock | 0 | |||
| Ending Balance | 3,615 | 3,615 | ||
|
Retained Earnings
|
||||
| Stockholders Equity Note [Line Items] | ||||
| Beginning Balance | 3,286 | |||
| Net income | 236 | |||
| Other comprehensive loss | 0 | |||
| Cash dividends ($0.1875 per share) | (68) | |||
| Employee stock plan issuance | (53) | |||
| Purchase of Treasury stock | 0 | |||
| Ending Balance | 3,401 | 3,401 | ||
|
Treasury Stock
|
||||
| Stockholders Equity Note [Line Items] | ||||
| Beginning Balance | (5,348) | |||
| Net income | 0 | |||
| Other comprehensive loss | 0 | |||
| Cash dividends ($0.1875 per share) | 0 | |||
| Employee stock plan issuance | 149 | |||
| Purchase of Treasury stock | (675) | |||
| Ending Balance | (5,874) | (5,874) | ||
|
Accumulated Other Comprehensive Loss
|
||||
| Stockholders Equity Note [Line Items] | ||||
| Beginning Balance | (2) | |||
| Net income | 0 | |||
| Other comprehensive loss | (9) | |||
| Cash dividends ($0.1875 per share) | 0 | |||
| Employee stock plan issuance | 0 | |||
| Purchase of Treasury stock | 0 | |||
| Ending Balance | $ (11) | $ (11) | ||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Number of shares issued during the period as a result employee stock and cash incentive plans. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate value of stock issued during the period as a result of employee stock and cash incentive plan. No definition available.
|
| X | ||||||||||
|
- Definition
Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of cash dividends declared by an entity during the period for all classes of stock (common, preferred, etc.). This element includes paid and unpaid dividends declared during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents Other Comprehensive Income or Loss, Net of Tax, for the period. Includes deferred gains or losses on qualifying hedges, unrealized holding gains or losses on available-for-sale securities, minimum pension liability, and cumulative translation adjustment. While for technical reasons this element has no balance attribute, the default assumption is a credit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares that have been repurchased during the period and are being held in treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of the cost of common and preferred stock that were repurchased during the period. Recorded using the cost method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Changes in Shareholders' Equity (Parenthetical) (Detail) (USD $)
|
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 17, 2011
|
Jun. 18, 2010
|
Jun. 17, 2011
|
Jun. 18, 2010
|
|
| Stockholders Equity Note [Line Items] | ||||
| Cash dividends, per share | $ 0.1000 | $ 0.0400 | $ 0.1875 | $ 0.0800 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Contingencies - Additional Information (Detail)
In Millions, unless otherwise specified |
6 Months Ended | 6 Months Ended | 6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
USD ($)
|
Jun. 17, 2011
Commitments
Timeshare Segment
USD ($)
|
Jun. 17, 2011
Commitments
Timeshare Segment
HKD
|
Jun. 17, 2011
Lower Limit
|
Jun. 17, 2011
Upper Limit
|
Jun. 17, 2011
Effective Credit Facility
USD ($)
|
Jun. 17, 2011
Outside Effective Credit Facility
USD ($)
|
Jun. 17, 2011
Project Completion Guarantee
Project One
USD ($)
|
Jun. 17, 2011
Project Completion Guarantee
Project Two
USD ($)
|
Jun. 17, 2011
Project Completion Guarantee
Project Two
CAD
|
Jun. 17, 2011
Primary Obligor
USD ($)
|
Jun. 17, 2011
Primary Obligor
Guarantee, Operating Profit
USD ($)
|
Jun. 17, 2011
Primary Obligor
Guarantee, Operating Profit
Condition Not Yet in Effect
USD ($)
|
Jun. 17, 2011
Secondarily Liable
USD ($)
|
Jun. 17, 2011
Secondarily Liable
Property Lease Guarantee
Sunrise Senior Living, Inc
USD ($)
|
Jun. 17, 2011
Secondarily Liable
Property Lease Guarantee
Renaissance Hotel Group N. V.
USD ($)
|
Jun. 17, 2011
Secondarily Liable
Property Lease Guarantee
Renaissance Hotel Group N. V.
EUR (€)
|
Sep. 09, 2005
Secondarily Liable
Property Lease Guarantee
Renaissance Hotel Group N. V.
EUR (€)
|
Jun. 17, 2011
Secondarily Liable
Debt Securities Payable
USD ($)
|
Jun. 17, 2011
Secondarily Liable
Debt Securities Payable
Sunrise Senior Living, Inc
USD ($)
|
Jun. 17, 2011
Secondarily Liable
Debt Securities Payable
CNL Retirement Properties, Inc
USD ($)
|
Jun. 17, 2011
Secondarily Liable
Debt Securities Payable
Five Star Senior Living
USD ($)
|
Jun. 17, 2011
Equity Investment for Non Controlling Interest in Partnership Commitment
Upper Limit
Within Three Years From Balance Sheet Date
USD ($)
|
Jun. 17, 2011
Investment in Other Joint Venture Commitment
Group 2
Upper Limit
USD ($)
|
Jun. 17, 2011
Investment in Other Joint Venture Commitment
Group 2
Upper Limit
EUR (€)
|
Jun. 17, 2011
Investment in Other Joint Venture Commitment
Group 3
Upper Limit
USD ($)
|
Jun. 17, 2011
Investment in Other Joint Venture Commitment
Group 3
Upper Limit
One Year from Balance Sheet Date
Commitments
USD ($)
|
Jun. 17, 2011
Investment in Other Joint Venture Commitment
Group 4
Commitments
USD ($)
|
Jun. 17, 2011
Investment in Other Joint Venture Commitment
Group 4
Commitments
EUR (€)
|
Mar. 25, 2011
Investment in Other Joint Venture Commitment
Group 4
Commitments
Entity
|
Jun. 17, 2011
Investment in Other Joint Venture Commitment
Group 4
One Year from Balance Sheet Date
Commitments
EUR (€)
|
Mar. 25, 2011
Investment in Other Joint Venture Commitment
Group 4
One Year from Balance Sheet Date
Commitments
Contract
|
Jun. 17, 2011
Investment in Other Joint Venture Commitment
Group 5
Upper Limit
One Year from Balance Sheet Date
Commitments
USD ($)
|
Jun. 17, 2011
Investment in Other Joint Venture Commitment
Group 5
Upper Limit
One Year from Balance Sheet Date
Commitments
EUR (€)
|
Jun. 17, 2011
Investment in Joint Venture for Development of New Property Commitment
Upper Limit
Within Three Years From Balance Sheet Date
USD ($)
|
Jun. 17, 2011
Other Purchase Commitment
Commitments
USD ($)
|
Jun. 17, 2011
Other Purchase Commitment
Commitments
EUR (€)
|
Jun. 17, 2011
Other Purchase Commitment
One Year from Balance Sheet Date
Commitments
USD ($)
|
Jun. 17, 2011
Other Purchase Commitment
More than One and within Two Years from Balance Sheet Date
Commitments
USD ($)
|
Jun. 17, 2011
Other Purchase Commitment
More than Two and within Three Years from Balance Sheet Date
Commitments
USD ($)
|
Jun. 17, 2011
Lodging Properties Commitments
USD ($)
|
Jun. 17, 2011
Lodging Properties Commitments
Within Three Years From Balance Sheet Date
USD ($)
|
Jun. 17, 2011
Lodging Properties Commitments
Expirations
Within Three Years From Balance Sheet Date
USD ($)
|
Jun. 17, 2011
Lodging Properties Commitments
Expirations
More than Five Years from Balance Sheet Date and Thereafter
USD ($)
|
Jun. 17, 2011
Investment in Fund to Purchase or Develop Hotels Commitment
USD ($)
|
Jun. 17, 2011
Real Estate Purchase
Within Three Years From Balance Sheet Date
Commitments
USD ($)
|
Jun. 17, 2011
Real Estate Purchase
Within Three Years From Balance Sheet Date
Commitments
EUR (€)
|
|
| Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||
| Funding guarantees term | P4Y | P10Y | |||||||||||||||||||||||||||||||||||||||||||||
| Liability for Expected Future Fundings | $ 3 | ||||||||||||||||||||||||||||||||||||||||||||||
| Liability for expected future fundings, in "Other long-term liabilities" | 60 | ||||||||||||||||||||||||||||||||||||||||||||||
| Maximum Potential Amount of Future Fundings | 592 | 520 | 508 | 260 | 153 | 24 | 116 | 73 | 43 | 6 | 36 | 1 | |||||||||||||||||||||||||||||||||||
| Pro rata ownership in the joint venture | 34.00% | 20.00% | 20.00% | ||||||||||||||||||||||||||||||||||||||||||||
| Liability for Expected Future Fundings | 16 | 3 | 63 | 55 | |||||||||||||||||||||||||||||||||||||||||||
| Annual rent payments, approximately | 6 | ||||||||||||||||||||||||||||||||||||||||||||||
| Remaining rent payments, approximately | 53 | ||||||||||||||||||||||||||||||||||||||||||||||
| CTF Holdings Ltd. cash collateral in the event funding is required | 7 | 5 | 35 | ||||||||||||||||||||||||||||||||||||||||||||
| Investment commitment | 8 | 3 | 5 | 4 | 11 | ||||||||||||||||||||||||||||||||||||||||||
| Investment commitments not expected to be funded | 29 | 20 | 7 | 1 | |||||||||||||||||||||||||||||||||||||||||||
| Purchase commitments | 18 | 141 | |||||||||||||||||||||||||||||||||||||||||||||
| Deposits in conjunction with commitments to purchase vacation ownership and fractional units upon completion of construction | 11 | ||||||||||||||||||||||||||||||||||||||||||||||
| Unfunded purchase commitments | 7 | 3 | 2 | 1 | 1 | 1 | 64 | 45 | |||||||||||||||||||||||||||||||||||||||
| Obligation to acquire remaining interest | We have a right and under certain circumstances an obligation to acquire our joint venture partner's remaining 50 percent interest in two joint ventures over the next ten years at a price based on the performance of the ventures. | We have a right and under certain circumstances an obligation to acquire our joint venture partner's remaining 50 percent interest in two joint ventures over the next ten years at a price based on the performance of the ventures. | We have a right and under certain circumstances an obligation to acquire the landlord’s interest in the real estate property and attached assets of a hotel that we lease for approximately $64 million (€45 million) during the next three years. | We have a right and under certain circumstances an obligation to acquire the landlord’s interest in the real estate property and attached assets of a hotel that we lease for approximately $64 million (€45 million) during the next three years. | |||||||||||||||||||||||||||||||||||||||||||
| Commitments to subsidize vacation ownership associations | 6 | ||||||||||||||||||||||||||||||||||||||||||||||
| Loan commitments that we have extended to owners of lodging properties | 3 | 1 | |||||||||||||||||||||||||||||||||||||||||||||
| Loan commitments not expected to be funded | 2 | 1 | 1 | ||||||||||||||||||||||||||||||||||||||||||||
| Acquisition interests in joint ventures | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||
| Number of new joint ventures | 2 | ||||||||||||||||||||||||||||||||||||||||||||||
| Contingent acquisition period | 10 years | ||||||||||||||||||||||||||||||||||||||||||||||
| Deposits in conjunction with contingent obligation to acquire the interest in joint ventures | 7 | 5 | 5 | ||||||||||||||||||||||||||||||||||||||||||||
| Number of additional contingent deposits expected to be made | 2 | ||||||||||||||||||||||||||||||||||||||||||||||
| Letters of credit outstanding | 78 | 75 | 3 | ||||||||||||||||||||||||||||||||||||||||||||
| Surety bonds issued | $ 201 | ||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Commitments to subsidize vacation ownership associations. No definition available.
|
| X | ||||||||||
|
- Definition
Deposits made in conjunction with a contingent obligation to acquire our joint venture partner's remaining interest. These deposits are refundable to the extent we do not acquire our joint venture partner's remaining interests. No definition available.
|
| X | ||||||||||
|
- Definition
Expected Undisbursed Investment Commitments Amount No definition available.
|
| X | ||||||||||
|
- Definition
Expected Undisbursed Loan Commitments Amount No definition available.
|
| X | ||||||||||
|
- Definition
The carrying amount of the liability for expected future funding as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of cash collateral as of the balance sheet date that CTF Holdings Ltd. made available in the event that Marriott is required to fund under these guarantees. No definition available.
|
| X | ||||||||||
|
- Definition
The noncurrent carrying amount of the liability for the freestanding or embedded guarantor's obligations under the guarantee or each group of similar guarantees. No definition available.
|
| X | ||||||||||
|
- Definition
Commitments to invest. No definition available.
|
| X | ||||||||||
|
- Definition
Joint Venture Ownership Interest No definition available.
|
| X | ||||||||||
|
- Definition
Loan commitments that we have extended to owners of lodging properties. No definition available.
|
| X | ||||||||||
|
- Definition
Number of Contingent Deposits No definition available.
|
| X | ||||||||||
|
- Definition
Number of Joint Ventures No definition available.
|
| X | ||||||||||
|
- Definition
Ownership Interest Purchase Contingency Term. No definition available.
|
| X | ||||||||||
|
- Definition
Our pro rata ownership in the joint venture. No definition available.
|
| X | ||||||||||
|
- Definition
Total purchase commitment, which includes both the funded and unfunded commitment amounts. No definition available.
|
| X | ||||||||||
|
- Definition
The unfunded amount of the purchase commitment. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of surety bonds issued as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
The current carrying amount of the liability for the freestanding or embedded guarantor's obligations under the guarantee or each group of similar guarantees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee or each group of similar guarantees before reduction for potential recoveries under recourse or collateralization provisions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Describe the approximate term of the guarantee or each group of similar guarantees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of the contingent obligation under letters of credit outstanding as of the reporting date. No definition available.
|
| X | ||||||||||
|
- Definition
The total of future contractually required payments on leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within one year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of an asset, typically cash, provided to a counterparty to provide certain assurance of performance by the entity pursuant to the terms of a written or oral agreement, such as a lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Describes the nature of an unconditional purchase obligation that is not recognized as a liability on the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Maximum Potential Amount of Future Fundings as the Primary Obligor for Guarantees and the Liability for Expected Future Fundings (Detail) (Primary Obligor, USD $)
In Millions, unless otherwise specified |
Jun. 17, 2011
|
|---|---|
| Loss Contingencies [Line Items] | |
| Maximum Potential Amount of Future Fundings | $ 260 |
| Liability for Expected Future Fundings | 63 |
|
Guarantee, Indebtedness of Others
|
|
| Loss Contingencies [Line Items] | |
| Maximum Potential Amount of Future Fundings | 58 |
| Liability for Expected Future Fundings | 6 |
|
Guarantee, Operating Profit
|
|
| Loss Contingencies [Line Items] | |
| Maximum Potential Amount of Future Fundings | 153 |
| Liability for Expected Future Fundings | 55 |
|
Guarantee, Other
|
|
| Loss Contingencies [Line Items] | |
| Maximum Potential Amount of Future Fundings | 49 |
| Liability for Expected Future Fundings | $ 2 |
| X | ||||||||||
|
- Definition
The carrying amount of the liability for expected future funding as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
Maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee or each group of similar guarantees before reduction for potential recoveries under recourse or collateralization provisions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Business Segment - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
6 Months Ended |
|---|---|
|
Jun. 17, 2011
Entity
|
|
| Segment Reporting Disclosure [Line Items] | |
| Number of business segments | 5 |
| The cash outflow associated with completing all phases of our existing portfolio of owned timeshare properties | $ 214 |
| Estimated Completion, Date Range, End | 2016 |
| X | ||||||||||
|
- Definition
Estimated Completion Period Range End No definition available.
|
| X | ||||||||||
|
- Definition
Number of Reportable Business Segments No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Estimated cost to complete improvements and promised amenities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Revenues (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 17, 2011
|
Jun. 18, 2010
|
Jun. 17, 2011
|
Jun. 18, 2010
|
|
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Revenue | $ 2,972 | $ 2,771 | $ 5,750 | $ 5,401 |
|
North American Full Service Segment
|
||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Revenue | 1,305 | 1,243 | 2,556 | 2,413 |
|
North American Limited Service Segment
|
||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Revenue | 564 | 507 | 1,066 | 968 |
|
International Segment
|
||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Revenue | 301 | 274 | 567 | 532 |
|
Luxury Segment
|
||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Revenue | 391 | 364 | 776 | 730 |
|
Timeshare Segment
|
||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Revenue | 390 | 364 | 748 | 724 |
|
Total Reportable Segments
|
||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Revenue | 2,951 | 2,752 | 5,713 | 5,367 |
|
Other Unallocated Corporate
|
||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Revenue | $ 21 | $ 19 | $ 37 | $ 34 |
| X | ||||||||||
|
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Net Income (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
Jun. 18, 2010
|
Jun. 17, 2011
|
Jun. 18, 2010
|
|||||||
| Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||||||||
| Other unallocated corporate | $ (58) | $ (49) | $ (120) | $ (102) | ||||||
| Interest expense and interest income | (22) | [1] | (27) | [1] | (47) | [1] | (54) | [1] | ||
| Income taxes | (66) | (65) | (117) | (111) | ||||||
| NET INCOME | 135 | 119 | 236 | 202 | ||||||
|
North American Full Service Segment
|
||||||||||
| Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||||||||
| Segment financial results | 89 | 83 | 167 | 154 | ||||||
|
North American Limited Service Segment
|
||||||||||
| Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||||||||
| Segment financial results | 98 | 82 | 170 | 141 | ||||||
|
International Segment
|
||||||||||
| Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||||||||
| Segment financial results | 45 | 42 | 81 | 74 | ||||||
|
Luxury Segment
|
||||||||||
| Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||||||||
| Segment financial results | 20 | 21 | 38 | 42 | ||||||
|
Timeshare Segment
|
||||||||||
| Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||||||||
| Segment financial results | 29 | 32 | 64 | 58 | ||||||
|
Total Reportable Segments
|
||||||||||
| Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||||||||
| Segment financial results | $ 281 | $ 260 | $ 520 | $ 469 | ||||||
|
||||||||||
| X | ||||||||||
|
- Definition
Other unallocated corporate revenue net of expenses which includes any unallocated gains and other income (losses) and equity method income (losses). No definition available.
|
| X | ||||||||||
|
- Definition
Amount of income tax expense or benefit which is not allocated to any segment and includes the tax expense or benefit attributable to both the parent and the noncontrolling interest. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of interest revenue net of interest expense that is not allocated to any segment. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Net Income (Parenthetical) (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 17, 2011
|
Jun. 18, 2010
|
Jun. 17, 2011
|
Jun. 18, 2010
|
|
| Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
| Interest expense | $ 37 | $ 44 | $ 78 | $ 89 |
|
Timeshare Segment
|
||||
| Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
| Interest expense | $ 12 | $ 14 | $ 24 | $ 28 |
| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Equity in (Losses) Earnings of Equity Method Investees (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 17, 2011
|
Jun. 18, 2010
|
Jun. 17, 2011
|
Jun. 18, 2010
|
|
| Segment Reporting Information [Line Items] | ||||
| Equity in (Losses) Earnings of Equity Method Investees | $ 0 | $ (4) | $ (4) | $ (15) |
|
North American Full Service Segment
|
||||
| Segment Reporting Information [Line Items] | ||||
| Equity in (Losses) Earnings of Equity Method Investees | 1 | 1 | 0 | 1 |
|
North American Limited Service Segment
|
||||
| Segment Reporting Information [Line Items] | ||||
| Equity in (Losses) Earnings of Equity Method Investees | 1 | (1) | (1) | (6) |
|
International Segment
|
||||
| Segment Reporting Information [Line Items] | ||||
| Equity in (Losses) Earnings of Equity Method Investees | (1) | (2) | (1) | (2) |
|
Luxury Segment
|
||||
| Segment Reporting Information [Line Items] | ||||
| Equity in (Losses) Earnings of Equity Method Investees | (1) | 1 | (2) | 0 |
|
Timeshare Segment
|
||||
| Segment Reporting Information [Line Items] | ||||
| Equity in (Losses) Earnings of Equity Method Investees | 0 | (3) | 0 | (8) |
|
Total Reportable Segments
|
||||
| Segment Reporting Information [Line Items] | ||||
| Equity in (Losses) Earnings of Equity Method Investees | $ 0 | $ (4) | $ (4) | $ (15) |
| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Assets (Detail) (USD $)
In Millions, unless otherwise specified |
Jun. 17, 2011
|
Dec. 31, 2010
|
|---|---|---|
| Segment Reporting, Asset Reconciling Item [Line Items] | ||
| Total Assets | $ 8,791 | $ 8,983 |
|
North American Full Service Segment
|
||
| Segment Reporting, Asset Reconciling Item [Line Items] | ||
| Total Assets | 1,240 | 1,221 |
|
North American Limited Service Segment
|
||
| Segment Reporting, Asset Reconciling Item [Line Items] | ||
| Total Assets | 520 | 465 |
|
International Segment
|
||
| Segment Reporting, Asset Reconciling Item [Line Items] | ||
| Total Assets | 1,024 | 822 |
|
Luxury Segment
|
||
| Segment Reporting, Asset Reconciling Item [Line Items] | ||
| Total Assets | 899 | 871 |
|
Timeshare Segment
|
||
| Segment Reporting, Asset Reconciling Item [Line Items] | ||
| Total Assets | 3,172 | 3,310 |
|
Total Reportable Segments
|
||
| Segment Reporting, Asset Reconciling Item [Line Items] | ||
| Total Assets | 6,855 | 6,689 |
|
Other Unallocated Corporate
|
||
| Segment Reporting, Asset Reconciling Item [Line Items] | ||
| Total Assets | $ 1,936 | $ 2,294 |
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Acquisitions - Additional Information (Detail)
In Millions, unless otherwise specified |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Mar. 25, 2011
Leasehold Purchase
USD ($)
|
Mar. 25, 2011
Leasehold Purchase
EUR (€)
|
Mar. 25, 2011
Investment in Other Joint Venture Commitment
Group 4
Commitments
USD ($)
Entity
|
Mar. 25, 2011
Investment in Other Joint Venture Commitment
Group 4
Commitments
EUR (€)
Entity
|
Jun. 17, 2011
Real Estate Purchase
Commitments
Within Three Years From Balance Sheet Date
USD ($)
|
Jun. 17, 2011
Real Estate Purchase
Commitments
Within Three Years From Balance Sheet Date
EUR (€)
|
|
| Significant Acquisitions and Disposals [Line Items] | ||||||
| Cash contributed for interest in operation, management and development of AC Hotels by Marriott | $ 51 | € 37 | ||||
| Acquisition interests in joint ventures | 50.00% | 50.00% | ||||
| Number of new joint ventures | 2 | 2 | ||||
| Contingent acquisition period | 10 years | 10 years | ||||
| Initial payment to acquire certain assets and a leasehold on a hotel | 34 | 25 | ||||
| Unfunded purchase commitments | $ 64 | € 45 | ||||
| X | ||||||||||
|
- Definition
Joint Venture Ownership Interest No definition available.
|
| X | ||||||||||
|
- Definition
Number of Joint Ventures No definition available.
|
| X | ||||||||||
|
- Definition
Ownership Interest Purchase Contingency Term. No definition available.
|
| X | ||||||||||
|
- Definition
The unfunded amount of the purchase commitment. No definition available.
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the investment in or advances to an entity in which the reporting entity shares control of the entity with another party or group. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Variable Interest Entities - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | 6 Months Ended | 6 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 6 Months Ended | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 17, 2011
|
Jun. 18, 2010
|
Jun. 17, 2011
|
Jun. 18, 2010
|
Dec. 31, 2010
|
Jun. 17, 2011
Variable Interest Entity, Primary Beneficiary
|
Dec. 31, 2010
Variable Interest Entity, Primary Beneficiary
|
Jun. 17, 2011
Variable Interest Entity, Primary Beneficiary
Group 1
|
Jun. 17, 2011
Variable Interest Entity, Primary Beneficiary
Group 1
Non Recourse
|
Jun. 17, 2011
Variable Interest Entity, Not Primary Beneficiary
Group 2
|
Jun. 17, 2011
Variable Interest Entity, Not Primary Beneficiary
Group 3
Entity
|
Mar. 25, 2011
Variable Interest Entity, Not Primary Beneficiary
Group 3
|
Jun. 17, 2011
Variable Interest Entity, Not Primary Beneficiary
Group 3
Seven of Ten Hotels
Secondarily Liable
|
Jun. 17, 2011
Variable Interest Entity, Not Primary Beneficiary
Group 3
Three of Ten Hotels
Secondarily Liable
|
Jun. 17, 2011
Variable Interest Entity, Not Primary Beneficiary
Group 3
Three of Ten Hotels
Secondarily Liable
Upper Limit
|
Jun. 17, 2011
Timeshare Segment
|
Jun. 18, 2010
Timeshare Segment
|
Jun. 17, 2011
Timeshare Segment
|
Jun. 18, 2010
Timeshare Segment
|
Dec. 31, 2010
Timeshare Segment
|
Jun. 17, 2011
Timeshare Segment
Lower Limit
|
Jun. 17, 2011
Timeshare Segment
Upper Limit
|
|
| Variable Interest Entity [Line Items] | ||||||||||||||||||||||
| Total Assets | $ 8,791 | $ 8,791 | $ 8,983 | $ 979 | $ 3,172 | $ 3,172 | $ 3,310 | |||||||||||||||
| Notes receivable, current | 114 | 0 | ||||||||||||||||||||
| Notes receivable (including from VIEs of $799 and $910, respectively) | 1,127 | 1,127 | 1,264 | 799 | 910 | 799 | ||||||||||||||||
| Accrued liability for additional funding | 16 | |||||||||||||||||||||
| Interest receivable | 5 | |||||||||||||||||||||
| Restricted cash, current | 62 | 62 | 55 | 47 | ||||||||||||||||||
| Restricted cash, noncurrent | 114 | 114 | 30 | 14 | ||||||||||||||||||
| Total Liabilities | 900 | |||||||||||||||||||||
| Interest payable | 5 | |||||||||||||||||||||
| Current portion of long-term debt | 482 | 482 | 138 | 122 | 126 | 122 | ||||||||||||||||
| Long-term debt | 2,440 | 2,440 | 2,691 | 773 | 890 | 773 | ||||||||||||||||
| Noncontrolling interest | 0 | |||||||||||||||||||||
| Interest income | 3 | 3 | 7 | 7 | 62 | |||||||||||||||||
| Interest expense | 37 | 44 | 78 | 89 | 24 | 12 | 14 | 24 | 28 | |||||||||||||
| Limit to repurchasing defaulted mortgage notes at the outstanding principal balance | 10.00% | 20.00% | ||||||||||||||||||||
| Defaulted notes voluntarily repurchased | 22 | 29 | ||||||||||||||||||||
| Variable Interest Entity, Entity Maximum Loss Exposure | Our maximum exposure to loss relating to the entities that own these notes is the overcollateralization amount (the difference between the loan collateral balance and the balance on the outstanding notes), plus cash reserves and any residual interest in future cash flows from collateral. | |||||||||||||||||||||
| Nature of common ownership or management control relationships | we manage hotels on behalf of tenant entities 100 percent owned by CTF, which lease the hotels from third-party owners | We are liable for rent payments for seven of the ten hotels if there are cash flow shortfalls. | we are liable for rent payments of up to an aggregate cap of $16 million for the three other hotels if there are cash flow shortfalls | |||||||||||||||||||
| Total number of hotels | 10 | |||||||||||||||||||||
| Future lease payment | 16 | 33 | ||||||||||||||||||||
| Number of entities on behalf of | 3 | |||||||||||||||||||||
| CTF trust account | $ 0 | |||||||||||||||||||||
| X | ||||||||||
|
- Definition
The percentage of the initial mortgage balance of securitized mortgage notes receivable that we are limited in repurchasing upon default, based on the Timeshare note securitization transaction documents for each transaction. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of defaulted mortgage notes receivable that were voluntarily repurchased for the period. No definition available.
|
| X | ||||||||||
|
- Definition
Number of Entities on Behalf of No definition available.
|
| X | ||||||||||
|
- Definition
Number of Hotels No definition available.
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of cash and securities held by third party trustees pursuant to terms of debt instruments or other agreements as of the date of each statement of financial position presented, which can be used by the trustee only to pay the noncurrent portion of specified obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The current carrying amount of the liability for the freestanding or embedded guarantor's obligations under the guarantee or each group of similar guarantees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of current interest earned but not received. Also called accrued interest or accrued interest receivable. For classified balance sheets, represents the current amount receivable, that is amounts expected to be collected within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of the portions of the carrying amounts as of the balance sheet date of long-term debt, which may include notes payable, bonds payable, debentures, mortgage loans, and commercial paper, which are scheduled to be repaid within one year or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents a description of the nature of common ownership or management control relationships with other entities, regardless of there being transactions between the entities, when the existence of that control could result in operating results or financial position of the reporting entity significantly different from that which would have been obtained if the entities' were autonomous. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
An amount representing an agreement for an unconditional promise by the maker to pay the Company (holder) a definite sum of money within one year from the balance sheet date (or the normal operating cycle, whichever is longer), net of any write-downs taken for collection uncertainty on the part of the holder. Such amount may include accrued interest receivable in accordance with the terms of the debt. The debt also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. This amount does not include amounts related to receivables held-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
An amount representing an agreement for an unconditional promise by the maker to pay the Entity (holder) a definite sum of money at a future date more than one year from the balance sheet date, net of any write-downs taken for collection uncertainty on the part of the holder. Such amount may include accrued interest receivable in accordance with the terms of the debt. The debt also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. This amount does not include amounts related to receivables held-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total of future contractually required payments on leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cash and equivalents whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Describes and explains the significant sources of the reporting entity's exposure to loss as a result of its involvement with the Variable Interest Entity (VIE). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Cash Flows Between us and the Timeshare Notes Securitization Variable Interest Entities (Detail) (USD $)
In Millions, unless otherwise specified |
6 Months Ended | |
|---|---|---|
|
Jun. 17, 2011
|
Jun. 18, 2010
|
|
| Variable Interest Entity [Line Items] | ||
| Principal receipts | $ 110 | $ 116 |
| Interest receipts | 64 | 69 |
| Total | 174 | 185 |
| Principal to investors | (100) | (105) |
| Repurchases | (22) | (29) |
| Interest to investors | (20) | (24) |
| Total | (142) | (158) |
| Net Cash Flows | $ 32 | $ 27 |
| X | ||||||||||
|
- Definition
Cash Flows Between Transferee And Transferor Net Proceeds From Repayments No definition available.
|
| X | ||||||||||
|
- Definition
Cash Flows Between Transferee And Transferor Proceeds From Interest Receipts No definition available.
|
| X | ||||||||||
|
- Definition
Cash Flows Between Transferee And Transferor Proceeds From Principal Receipts No definition available.
|
| X | ||||||||||
|
- Definition
Cash Flows Between Transferee And Transferor Proceeds Total No definition available.
|
| X | ||||||||||
|
- Definition
Cash Flows Between Transferee And Transferor Repayments Of Interest To Investors No definition available.
|
| X | ||||||||||
|
- Definition
Cash Flows Between Transferee And Transferor Repayments Of Principal To Investors No definition available.
|
| X | ||||||||||
|
- Definition
Cash Flows Between Transferee And Transferor Repayments Total No definition available.
|
| X | ||||||||||
|
- Definition
Cash Flows between a transferor and a transferee attributable to purchases of previously transferred financial assets (or its underlying collateral) related to a securitization, asset-backed financing arrangement, or similar transfer in which the transferor has continuing involvement with the transferred financial assets underlying the transaction (including, but not limited to, servicing, recourse, and restrictions on transferor's interests in the transferred financial assets). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Planned Spin-off - Additional Information (Detail) (Timeshare Segment, USD $)
In Millions, unless otherwise specified |
3 Months Ended |
|---|---|
|
Mar. 25, 2011
|
|
|
Timeshare Segment
|
|
| Segment Reporting Disclosure [Line Items] | |
| Planned spin-off | we expect to spin-off our timeshare operations and timeshare development business as a new independent company through a special tax-free dividend to our shareholders in late 2011 |
| Expected franchise fees | We expect to receive franchise fees totaling approximately two percent of developer contract sales plus $50 million annually for the new timeshare company's use of the Marriott timeshare and Ritz-Carlton fractional brands |
| Expected franchise fees, percentage of developer contract sales | 2.00% |
| Expected franchise fees, annual fee for use of Marriott timeshare and Ritz-Carlton fractional brands | $ 50 |
| X | ||||||||||
|
- Definition
Expected Franchise Fees Additional Annual Fee No definition available.
|
| X | ||||||||||
|
- Definition
Expected Franchise Fees Percentage Of Developer Contract Sales No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Spin Off Plan Description No definition available.
|
| X | ||||||||||
|
- Definition
Spin Off Transaction Description No definition available.
|
|
Leases - Additional Information (Detail) (Leasehold Purchase)
In Millions, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 25, 2011
USD ($)
|
Mar. 25, 2011
EUR (€)
|
|
| Leases Disclosure [Line Items] | ||
| Initial payment to acquire certain assets and a leasehold on a hotel | $ 34 | € 25 |
| Initial lease term, expiration year | 2014 | 2014 |
| X | ||||||||||
|
- Definition
Initial Lease Term Expiration Year No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Aggregate Minimum Lease Payments through the Initial Lease Term (Detail) (Leasehold Purchase, USD $)
In Millions, unless otherwise specified |
Jun. 17, 2011
|
|---|---|
|
Leasehold Purchase
|
|
| Schedule of Capital Lease Obligations [Line Items] | |
| 2011 | $ 1 |
| 2012 | 2 |
| 2013 | 2 |
| 2014 | 65 |
| Total minimum lease payments | 70 |
| Less: amount representing interest | (6) |
| Present value of net minimum lease payments | $ 64 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The total of contractually required rental payments on leases meeting the criteria for capitalization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Contractually required rental payments on leases meeting the criteria for capitalization, due within one year of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Contractually required rental payments on leases meeting the criteria for capitalization, due within the fourth year from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Contractually required rental payments on leases meeting the criteria for capitalization, due within the third year from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Contractually required rental payments on leases meeting the criteria for capitalization, due within the second year from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount necessary to reduce net minimum lease payments to present value calculated at the lesser of the interest rate implicit in the lease (if known) or the entity's incremental borrowing rate (as defined) at inception of the lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The discounted value of future cash flows under leases meeting the criteria for capitalization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|