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INVENTORY | 6 Months Ended
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Jun. 30, 2025
Inventory Disclosure [Abstract] |
INVENTORY | INVENTORY Inventory was comprised of the following:
($ in millions) | June 30, 2025 |  | December 31, 2024
Completed unsold VOIs | $ | 2,012 |  |  | $ | 1,898 |
Construction in process | 393 |  |  | 345 |
Land, infrastructure and other | 1 |  |  | 1 |
Total | $ | 2,406 |  |  | $ | 2,244 |
For the six months ended June 30, 2025, we recorded non-cash operating activity transfers, net of $48 million related to the registrations for timeshare units under construction for a property in Japan from Property and equipment, net to Inventory. As VOI inventory is constructed, it is recorded into Property and equipment, net until such units are registered and made available for sale. Once registered and available for sale, the units are then transferred into Inventory. The table below presents cost of sales true-ups relating to VOI products and the related impacts to the carrying value of inventory and cost of VOI sales:
| Three Months Ended June 30, |  | Six Months Ended June 30,
($ in millions) | 2025 |  | 2024 |  | 2025 |  | 2024
Cost of sales true-up(1) | $ | 9 |  |  | $ | (4) |  |  | $ | 26 |  |  | $ | 11 |
(1)For the three and six months ended June 30, 2025, and the six months ended June 30, 2024, the cost of sales true-up decreased cost of VOI sales and increased inventory. For the three months ended June 30, 2024, the cost of sales true-up increased cost of VOI sales and decreased inventory.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/330/tableOfContent + Details
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