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Travel + Leisure TNL Restructuring Reserve

Restructuring Reserve at other companies

Gates Industrial Corporation logo
Gates Industrial CorporationGTES
$12.7M+338%
Celanese Corporation logo
Celanese CorporationCE
$34M-20.9%
Resideo Technologies, Inc. logo
Resideo Technologies, Inc.REZI
$21M—
Dolby Laboratories, Inc. logo
Dolby Laboratories, Inc.DLB
$7.25M+15.9%
Travel + Leisure logo
Travel + LeisureTNL
$18M+5.9%
Silgan Holdings logo
Silgan HoldingsSLGN
$45.01M+47.3%

Segments

By segment

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Vacation Ownership$3M—

Other financials

Income statement

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Revenue$961.0M+2.9%
Gross profit$926.0M+1.6%
Operating income$159.0M+1.9%
Net income$79.0M+8.2%
EPS (diluted)$1.22+14.0%

Balance sheet

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Cash & equivalents$456.0M+24.3%
Total debt$4.7B+11.9%
Total equity-$1.0B-13.2%
Total assets$6.8B+1.1%

Cash flow

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Operating cash flow$38.0M-68.6%
CapEx$19.0M-9.5%
Free cash flow$19.0M-81.0%

Valuation

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Market cap$4.79B+39.8%
Enterprise value$9.04B+23.7%
P/E12.9×+2.3×
P/S1.2×+0.3×

Profitability

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Gross margin93%-4.9pp
Operating margin14.3%-4.8pp
Net margin10.4%-0.6pp
FCF margin10.9%-0.7pp

Returns & leverage

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Return on equity122.1%—
Debt / equity6.6×—
Current ratio1.2×—

Where this comes from

Reported directly by Travel + Leisure in its filing.

Tagged under the XBRL concept us-gaap:RestructuringReserve.

The official record: Travel + Leisure’s 10-Q, filed April 22, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Travel + Leisure's restructuring reserve?
Travel + Leisure (TNL) reported restructuring reserve of $18M in Q1 2026.
How has Travel + Leisure's restructuring reserve changed year-over-year?
Travel + Leisure's restructuring reserve increased by 5.9% year-over-year, from $17M to $18M.
What is the long-term trend for Travel + Leisure's restructuring reserve?
Over 5 years (2020 to 2025), Travel + Leisure's restructuring reserve has grown at a 1.5% compound annual growth rate (CAGR), from $26M to $28M.
What does restructuring reserve mean?
This represents the estimated liability for costs associated with formal restructuring plans, such as severance, facility closures, or asset impairments. It reflects management's commitment to operational efficiency and strategic realignment. These reserves are drawn down as the restructuring activities are executed.