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BUSINESS SEGMENTS (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of segment reporting information, by segment | Segment Revenues and Adjusted EBITDA The table below presents the following for the periods presented: revenues, disaggregated by segment, reconciled to consolidated revenue; segment expenses, including significant expense categories and amounts that align with segment-level information regularly provided to our CODM; and segment Adjusted EBITDA reconciled to Net income attributable to common stockholders.
| 2024 |  | 2023 |  | 2022
($ in millions) | Vacation Ownership |  | Exchange & Third-Party Management |  | Total |  | Vacation Ownership |  | Exchange & Third-Party Management |  | Total |  | Vacation Ownership |  | Exchange & Third-Party Management |  | Total
Revenues from external customers | $ | 4,730 |  |  | $ | 231 |  |  | $ | 4,961 |  |  | $ | 4,468 |  |  | $ | 262 |  |  | $ | 4,730 |  |  | $ | 4,342 |  |  | $ | 291 |  |  | $ | 4,633 |
Reconciliation of revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate and other(1) |  |  |  |  | 6 |  |  |  |  |  |  | (3) |  |  |  |  |  |  | 23 |
Total consolidated revenues |  |  |  |  | $ | 4,967 |  |  |  |  |  |  | $ | 4,727 |  |  |  |  |  |  | $ | 4,656 |
Cost of vacation ownership products | (200) |  |  | — |  |  |  |  | (224) |  |  | — |  |  |  |  | (289) |  |  | — |  |  |
Marketing and sales | (919) |  |  | — |  |  |  |  | (823) |  |  | — |  |  |  |  | (807) |  |  | — |  |  |
Management and exchange | (293) |  |  | (122) |  |  |  |  | (270) |  |  | (118) |  |  |  |  | (240) |  |  | (120) |  |  |
Rental | (498) |  |  | — |  |  |  |  | (466) |  |  | — |  |  |  |  | (400) |  |  | — |  |  |
Financing | (146) |  |  | — |  |  |  |  | (113) |  |  | — |  |  |  |  | (75) |  |  | — |  |  |
Royalty fee | (114) |  |  | — |  |  |  |  | (117) |  |  | — |  |  |  |  | (114) |  |  | — |  |  |
Other segment items(2) | (1,715) |  |  | (7) |  |  |  |  | (1,572) |  |  | (14) |  |  |  |  | (1,384) |  |  | (23) |  |  |
Segment Adjusted EBITDA | 845 |  |  | 102 |  |  | 947 |  |  | 883 |  |  | 130 |  |  | 1,013 |  |  | 1,033 |  |  | 148 |  |  | 1,181 |
Corporate and other(1) |  |  |  |  | (220) |  |  |  |  |  |  | (252) |  |  |  |  |  |  | (215) |
Interest expense, net |  |  |  |  | (162) |  |  |  |  |  |  | (145) |  |  |  |  |  |  | (118) |
Depreciation and amortization |  |  |  |  | (146) |  |  |  |  |  |  | (135) |  |  |  |  |  |  | (132) |
Share-based compensation expense |  |  |  |  | (33) |  |  |  |  |  |  | (31) |  |  |  |  |  |  | (39) |
Certain items |  |  |  |  | (79) |  |  |  |  |  |  | (50) |  |  |  |  |  |  | (95) |
Provision for income taxes |  |  |  |  | (89) |  |  |  |  |  |  | (146) |  |  |  |  |  |  | (191) |
Net income attributable to common stockholders |  |  |  |  | $ | 218 |  |  |  |  |  |  | $ | 254 |  |  |  |  |  |  | $ | 391 |
(1)Corporate and Other consist of results that are not allocable to our segments, including company-wide general and administrative expenses, corporate interest expense, transaction and integration costs, and income taxes. In addition, Corporate and Other includes revenues and expenses from Consolidated Property Owners’ Associations. Our CODM does not use this information for operating segment resource allocations. (2)Other segment items include cost reimbursements, non-cash share-based compensation, purchase accounting adjustments related to the Welk acquisition, and other. Depreciation and Amortization
($ in millions) | 2024 |  | 2023 |  | 2022
Vacation Ownership | $ | 100 |  |  | $ | 93 |  |  | $ | 92 |
Exchange & Third-Party Management | 28 |  |  | 31 |  |  | 31 |
Total segment depreciation and amortization | 128 |  |  | 124 |  |  | 123 |
Corporate and other | 18 |  |  | 11 |  |  | 9 |
| $ | 146 |  |  | $ | 135 |  |  | $ | 132 |
Assets | Assets
($ in millions) | At December 31, 2024 |  | At December 31, 2023
Vacation Ownership | $ | 8,296 |  |  | $ | 8,167 |
Exchange & Third-Party Management | 777 |  |  | 813 |
Total segment assets | 9,073 |  |  | 8,980 |
Corporate and other | 735 |  |  | 700 |
| $ | 9,808 |  |  | $ | 9,680 |
Capital expenditures (including inventory) | Capital Expenditures (including inventory)
($ in millions) | 2024 |  | 2023 |  | 2022
Vacation Ownership | $ | 237 |  |  | $ | 171 |  |  | $ | 182 |
Exchange & Third-Party Management | 2 |  |  | — |  |  | — |
Total segment capital expenditures | 239 |  |  | 171 |  |  | 182 |
Corporate and other | 11 |  |  | 63 |  |  | 33 |
| $ | 250 |  |  | $ | 234 |  |  | $ | 215 |
Revenue by geographic areas | Revenues Excluding Cost Reimbursements
($ in millions) | 2024 |  | 2023 |  | 2022
United States | $ | 2,797 |  |  | $ | 2,722 |  |  | $ | 2,886 |
All other countries | 481 |  |  | 444 |  |  | 403 |
| $ | 3,278 |  |  | $ | 3,166 |  |  | $ | 3,289 |
Fixed assets by geographic areas | Property and Equipment, net
($ in millions) | At December 31, 2024 |  | At December 31, 2023
United States | $ | 1,033 |  |  | $ | 1,103 |
All other countries | 137 |  |  | 157 |
| $ | 1,170 |  |  | $ | 1,260 |

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- Definition Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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