Travel + Leisure Co 2026年季度报告

☑QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934For the quarterly period ended June 30, 2026OR☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THESECURITIES EXCHANGEACT OF 1934For the transition period fromtoCommission file number001-32876 TRAVEL + LEISURE CO. (Exact Name of Registrant as Specified in Its Charter) Delaware (State or Other Jurisdictionof Incorporation or Organization) (407) 626-5200(Registrant’s Telephone Number, Including Area Code)None(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading SymbolName of each exchange on which registeredCommon Stock, $0.01 par value per shareTNLNew York Stock Exchange Indicate by check mark whether the registrant: (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filingrequirements for the past 90days.Yes☑No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☑No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company”in Rule 12b-2 of the Exchange Act. Large accelerated filer☑Non-accelerated filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No☑Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:61,204,232 shares of common stock outstanding as of June30, 2026. Table of Contents PARTIFINANCIAL INFORMATION Financial Statements (Unaudited)Report of Independent Registered Public Accounting FirmCondensed Consolidated Statements of IncomeCondensed Consolidated Statements of Comprehensive IncomeCondensed Consolidated Balance SheetsCondensed Consolidated Statements of Cash FlowsCondensed Consolidated Statements of DeficitNotes to Condensed Consolidated Financial StatementsNote 1 - Background and Basis of PresentationNote 2 - New Accounting PronouncementsNote 3 - Revenue RecognitionNote 4 - Earnings Per ShareNote 5 - AcquisitionsNote 6 - Vacation Ownership Contract ReceivablesNote 7 - InventoryNote 8 - Property and EquipmentNote 9 - DebtNote 10 - Variable Interest EntitiesNote 11 - Fair ValueNote 12 - Derivative Instruments and Hedging ActivitiesNote 13 - Income TaxesNote 14 - LeasesNote 15 - Commitments and ContingenciesNote 16 - Accumulated Other Comprehensive LossNote 17 - Stock-Based CompensationNote 18 - Segment InformationNote 19 - Impairments and other chargesNote 20 - RestructuringNote 21 - Transactions with Former Parent and Former SubsidiariesNote 22 - Related Party TransactionsNote 23 - Subsequent EventsManagement’s Discussion and Analysis of Financial Condition and Results of OperationsForward-Looking StatementsQuantitative and Qualitative Disclosures About Market RiskControls and ProceduresPARTII OTHER INFORMATIONLegal Proceedings GLOSSARY OF TERMS The following terms and acronyms appear in the text of this report and have the definitions indicated below: Adjusted EBITDAA non-GAAP measure, defined by the Company as net income fromcontinuing operations before depreciation and amortization, interestexpense (excluding consumer financing interest), early extinguishmentof debt, interest income (excluding consumer financing revenues) andincome taxes. Adjusted EBITDA also excludes stock-basedcompensation costs, separation and restructuring costs, legacy items,transaction and integration costs associated with mergers, acquisitions,and divestitures, asset impairments/recoveries and inventory write-downs associated with the Company’s resort optimization initiative,gains and losses on sale/disposition of business, and items that meet theconditions of unusual and/or infrequent. Legacy items include theresolution of and adjustments to certain contingent assets and liabilitiesrelated to acquisitions of continuing businesses and dispositions,including the separation of Wyndham Hotels & Resorts, Inc.(“Wyndham Hotels”) and Avis Budget Group, Inc. (“ABG”), and thesale of the vacation rentals businesses. Integra