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WYN » Topics » Net Interest Earned on Amounts Due from and to Cendant and Advances to Cendant, net

This excerpt taken from the WYN 8-K filed Jul 19, 2006.

Net Interest Earned on Amounts Due from and to Cendant and Advances to Cendant, net

In the ordinary course of business, Cendant sweeps cash from the Company’s bank accounts and the Company maintains certain balances due to or from Cendant. Inclusive of unpaid corporate allocations, the Company had net amounts due from Cendant, exclusive of income taxes, totaling $1,914 million and $1,828 million as of March 31, 2006 and December 31, 2005, respectively. Certain of the advances between the Company and Cendant are interest-bearing. In connection with the interest-bearing balances, the Company recorded net interest income of $10 million and $6 million during the three months ended March 31, 2006 and 2005, respectively.

 

12. SUBSEQUENT EVENTS
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