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Travel + Leisure TNL Deferred other revenue — Contract with Customer, Liability

Other product segments

Subscription revenue
$147M-2.6%
Deferred subscription revenue
$146M-5.8%

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Other financials

Income statement

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Revenue$1.1B+4.4%
Gross profit$1.0B+3.7%
Operating income$210.0M+1.9%
Net income$109.0M+0.9%
EPS (diluted)$1.72+6.2%

Balance sheet

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Cash & equivalents$471.0M+21.7%
Total debt$4.5B+4.4%
Total equity-$1.0B-19.6%
Total assets$6.9B+1.3%

Cash flow

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Operating cash flow$220.0M-5.2%
CapEx$25.0M-32.4%
Free cash flow$195.0M0.0%

Valuation

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Market cap$4.74B+22.5%
Enterprise value$8.78B+12.5%
P/E11.6×+2.1×
P/S1.2×+0.2×

Profitability

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Gross margin92.9%-5.1pp
Operating margin14.2%-5.1pp
Net margin10.4%-0.6pp
FCF margin10.8%-1.8pp

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:ContractWithCustomerLiability.

The source filing: Travel + Leisure’s 10-Q, filed July 22, 2026.

Filed
Jul 22, 2026, 11:22 AM EDT
Fiscal quarter
Q3 FY2026
Calendar quarter
Q3 2026
Accession
0001361658-26-000053
Line itemJune 30,2026December 31, 2025
Deferred subscription revenue$146$147
Deferred VOI trial package revenue134138
Deferred VOI incentive revenue8890
Deferred exchange-related revenue (a)5757
Deferred co-branded credit card programs revenue3436
Deferred other revenue41
Total$463$469

Item 1. Financial Statements (Unaudited).

FAQ

What is Travel + Leisure's deferred other revenue — contract with customer, liability?
Travel + Leisure (TNL) reported deferred other revenue — contract with customer, liability of $4M in Q2 2026.
How has Travel + Leisure's deferred other revenue — contract with customer, liability changed year-over-year?
Travel + Leisure's deferred other revenue — contract with customer, liability decreased by 0.0% year-over-year, from $4M to $4M.
What is the long-term trend for Travel + Leisure's deferred other revenue — contract with customer, liability?
Over 4 years (2021 to 2025), Travel + Leisure's deferred other revenue — contract with customer, liability has grown at a 4.3% compound annual growth rate (CAGR), from $11M to $13M.
What does deferred other revenue — contract with customer, liability mean?
This metric represents the portion of revenue from other products and services that has been billed or collected but not yet earned under existing customer contracts. It reflects a liability for the company to deliver specific goods or services in future periods. Monitoring this balance provides insight into the company's obligation to fulfill commitments related to its non-core travel and hospitality offerings.

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