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Wyndham Worldwide Corp (WYN) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

Wyndham Worldwide Corp

CIK: 1761612 Ticker: WYN

EXHIBIT 99.1

 

LOGO

Wyndham Worldwide Reports Fourth Quarter and Full Year 2013 Earnings

Full Year Adjusted Diluted EPS Growth of 19%

Increases Dividend 21%

PARSIPPANY, N.J. (February 7, 2014)

– Wyndham Worldwide Corporation (NYSE:WYN) today announced results for the three months and year ended December 31, 2013.

Highlights:

 

  Fourth quarter adjusted diluted earnings per share (EPS) was $0.73, an increase of 16% from adjusted diluted EPS of $0.63 in the fourth quarter of 2012. Reported diluted EPS was $0.65 in the fourth quarter of 2013, compared with $0.57 during the same period in 2012.

 

  Fourth quarter adjusted EBITDA increased 10% from the prior-year period.

 

  The Company’s Board of Directors authorized an increase in the quarterly cash dividend to $0.35 from $0.29 per share, beginning with the dividend that is expected to be declared in the first quarter of 2014.

 

  During the quarter, the Company repurchased 1.8 million shares of its common stock for $115 million. For the full year, the Company spent $590 million to repurchase 9.7 million shares of its common stock.

“We finished the year with another strong quarter, marking our fourth consecutive year of double-digit growth in adjusted EPS,” said Stephen P. Holmes, chairman and CEO. “We are excited about our prospects for 2014 as we continue to execute and innovate across our businesses and maintain our capital allocation discipline to enhance value for shareholders.”

FOURTH QUARTER 2013 OPERATING RESULTS

Fourth quarter revenues were $1.2 billion, an increase of 9% from the prior year period. The increase reflects growth in all of the Company’s business segments.

Adjusted net income was $96 million, or $0.73 per diluted share, compared with $89 million, or $0.63 per diluted share for the same period in 2012. The increases reflect stronger operating results in the Company’s lodging and vacation ownership businesses. EPS growth also benefited from the Company’s share repurchase program, which decreased weighted average diluted share count by 7% year-over-year.


The following information was filed by Wyndham Worldwide Corp (WYN) on Friday, February 7, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Equity
Consolidated Statements Of Income
Accrued Expenses And Other Current Liabilities
Accrued Expenses And Other Current Liabilities (schedule Of Accrued Expenses And Other Current Liabilities) (details)
Accrued Expenses And Other Current Liabilities (tables)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (components Of Accumulated Other Comprehensive Income) (details)
Accumulated Other Comprehensive Income (tables)
Acquisitions
Acquisitions (narrative) (details)
Acquisitions (shell Vacation Llc, Estimated Fair Values Of Assets Acquired And Liabilities Assumed) (details)
Acquisitions (shell Vacation Llc, Preliminary Purchase Price Allocation) (details)
Acquisitions (tables)
Basis Of Presentation
Commitments And Contingencies
Commitments And Contingencies (narrative) (details)
Commitments And Contingencies (schedule Of Operating Lease Future Minimum Payments) (details)
Commitments And Contingencies (tables)
Earnings Per Share
Earnings Per Share (computation Of Basic And Diluted Eps) (details)
Earnings Per Share (current Stock Repurchase Program) (details)
Earnings Per Share (narrative) (details)
Earnings Per Share (tables)
Employee Benefit Plans
Employee Benefit Plans (narrative) (details)
Fair Value
Fair Value (carrying Amounts And Estimated Fair Values Of Financial Instruments) (details)
Fair Value (narrative) (details)
Fair Value (summary Of Assets And Liabilities Measured At Fair Value On Recurring Basis) (details)
Fair Value (tables)
Financial Instruments
Financial Instruments (narrative) (details)
Financial Instruments (summary Of Gain Amounts Recognized In Aoci) (details)
Financial Instruments (summary Of Gain/(loss) Recognized In Income) (details)
Financial Instruments (tables)
Franchising And Marketing/reservation Activities
Franchising And Marketing/reservation Activities (narrative) (details)
Income Taxes
Income Taxes (current And Non-current Deferred Income Tax Assets And Liabilities) (details)
Income Taxes (difference Of Effective Income Tax Rate From Us Federal Statutor Rate) (details)
Income Taxes (income Tax Provision) (details)
Income Taxes (narrative) (details)
Income Taxes (pre-tax Income For Domestic And Foreign Operations) (details)
Income Taxes (summary Of Activities Related To Unrecognized Tax Benefits) (details)
Income Taxes Income Tax (tables)
Intangible Assets
Intangible Assets (amortization Expense Related To Intangible Assets By Major Class) (details)
Intangible Assets (changes In Carrying Amount Of Goodwill By Segment) (details)
Intangible Assets (components Of Intangible Assets) (details)
Intangible Assets (intangible Assets Future Amortization Expenses) (details)
Intangible Assets (tables)
Intangible Assets Intangible Assets (narrative) (details)
Inventory
Inventory (inventory) (details)
Inventory (tables)
Inventory Inventory (narrative) (details)
Long-term Debt And Borrowing Arrangements
Long-term Debt And Borrowing Arrangements (early Extinguishment Of Debt) (narrative) (details)
Long-term Debt And Borrowing Arrangements (interest Expense) (narrative) (details)
Long-term Debt And Borrowing Arrangements (securitized Debt) (narrative) (details)
Long-term Debt And Borrowing Arrangements (summary Of Available Capacity Under Borrowing Arrangements) (details)
Long-term Debt And Borrowing Arrangements (summary Of Indebtedness-long-term Debt) (details)
Long-term Debt And Borrowing Arrangements (summary Of Outstanding Debt Maturities) (details)
Long-term Debt And Borrowing Arrangements (tables)
Long-term Debt And Borrowing Arrangements Long-term Debt And Borrowing Arrangements (long-term Debt) (narrative) (details)
Other Current Assets
Other Current Assets (details)
Other Current Assets (tables)
Property And Equipment, Net
Property And Equipment, Net (schedule Of Property And Equipment) (details)
Property And Equipment, Net (tables)
Restructuring And Impairments
Restructuring And Impairments (activity Related To The Restructuring Costs) (details)
Restructuring And Impairments (narrative) (details)
Restructuring And Impairments (tables)
Segment Information
Segment Information (reconciliation Of Earnings Before Interest, Depreciation And Amortization To Income Before Income Taxes) (details)
Segment Information (schedule Of Geographic Segment Information) (details)
Segment Information (summary Of Segment Information) (details)
Segment Information (tables)
Selected Quarterly Financial Data (notes)
Selected Quarterly Financial Data (summary Of Quarterly Financial Data) (details)
Selected Quarterly Financial Data (tables)
Separation Adjustments And Transactions With Former Parent And Subsidiaries
Separation Adjustments And Transactions With Former Parent And Subsidiaries (narrative) (details)
Stock-based Compensation
Stock-based Compensation (incentive Equity Awards Granted By The Company) (details)
Stock-based Compensation (narrative) (details)
Stock-based Compensation (tables)
Stock-based Compensation (weighted Average Grant Date Fair Value Assumptions) (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (narrative) (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (schedule Of Deferred Income) (details)
Summary Of Significant Accounting Policies (summary Of Activity Of Allowance For Doubtful Accounts) (details)
Summary Of Significant Accounting Policies (tables)
Vacation Ownership Contract Receivables
Vacation Ownership Contract Receivables (allowance For Loan Losses On Vacation Ownership Contract Receivables) (details)
Vacation Ownership Contract Receivables (current And Long-term Vacation Ownership Contract Receivables) (details)
Vacation Ownership Contract Receivables (narrative) (details)
Vacation Ownership Contract Receivables (principal Payments Due On Vacation Ownership Contract Receivables) (details)
Vacation Ownership Contract Receivables (summary Of The Aged Analysis Of Financing Receivables Using The Most Recently Updated Fico Scores) (details)
Vacation Ownership Contract Receivables (tables)
Variable Interest Entities
Variable Interest Entities (assets And Liabilities Of Vacation Ownership Spes) (details)
Variable Interest Entities (narrative) (details)
Variable Interest Entities (summary Of Total Vacation Ownership Receivables And Other Securitized Assets, Net Of Securitized Liabilities And Allowance For Loan Losses) (details)
Variable Interest Entities (summary Of Vacation Ownership Nyc, Assets And Liabilities Of The Spe) (details)
Variable Interest Entities (tables)
Ticker: WYN
CIK: 1361658
Form Type: 10-K Annual Report
Accession Number: 0001361658-14-000005
Submitted to the SEC: Fri Feb 14 2014 2:39:32 PM EST
Accepted by the SEC: Fri Feb 14 2014
Period: Tuesday, December 31, 2013
Industry: Hotels And Motels

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