What does vacation ownership — restructuring reserve mean?

This represents the accrued liability set aside to cover costs associated with organizational changes, such as workforce reductions or facility consolidations within the segment. It provides visibility into the financial impact of efforts to improve operational efficiency.

Travel + Leisure TNL Vacation Ownership — Restructuring Reserve

Similar metrics at other companies

STTRestructuring Reserve

$257M+213%

MTRNOther — Restructuring Reserve

$104K-66.5%

CEOther — Restructuring Reserve

$8M-38.5%

MIRRestructuring Reserve

$0—

SONRestructuring Reserve

$5M-12.3%

CSTMRestructuring Reserve

$1M0.0%

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%

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-K, filed February 18, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Travel + Leisure's vacation ownership — restructuring reserve?: Travel + Leisure (TNL) reported vacation ownership — restructuring reserve of $4M in Q4 2025.
What does vacation ownership — restructuring reserve mean?: This represents the accrued liability set aside to cover costs associated with organizational changes, such as workforce reductions or facility consolidations within the segment. It provides visibility into the financial impact of efforts to improve operational efficiency.