XML 55 R38.htm IDEA: XBRL DOCUMENT
v3.25.0.1

FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Investments, All Other Investments [Abstract] |
Carrying values and estimated fair values of financial assets and liabilities | The following table shows the carrying values and the estimated fair values of financial assets and liabilities that qualify as financial instruments, determined in accordance with the authoritative guidance for disclosures regarding the fair value of financial instruments. Considerable judgment is required in interpreting market data to develop estimates of fair value. The use of different market assumptions and/or estimation methodologies could have a material effect on the estimated fair value amounts. The table excludes Cash and cash equivalents, Restricted cash, Accounts and contracts receivable (excluding contracts receivable for financed VOI sales, net), deposits included in Other assets, Accounts payable, Advance deposits, and Accrued liabilities, all of which had fair values approximating their carrying amounts due to the short maturities and liquidity of these instruments.
| At December 31, 2024 |  | At December 31, 2023
($ in millions) | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Vacation ownership notes receivable, net | $ | 2,440 |  |  | $ | 2,508 |  |  | $ | 2,343 |  |  | $ | 2,427 |
Contracts receivable for financed VOI sales, net | 46 |  |  | 46 |  |  | 37 |  |  | 37 |
Other assets | 131 |  |  | 131 |  |  | 99 |  |  | 99 |
Total financial assets | $ | 2,617 |  |  | $ | 2,685 |  |  | $ | 2,479 |  |  | $ | 2,563 |
Securitized debt, net | $ | (2,136) |  |  | $ | (2,147) |  |  | $ | (2,096) |  |  | $ | (2,068) |
Term Loan, net | (786) |  |  | (796) |  |  | (781) |  |  | (784) |
Revolving Corporate Credit Facility, net | (122) |  |  | (125) |  |  | (101) |  |  | (105) |
2028 Notes, net | (348) |  |  | (336) |  |  | (348) |  |  | (322) |
2029 Notes, net | (496) |  |  | (467) |  |  | (495) |  |  | (445) |
2026 Convertible notes, net | (572) |  |  | (546) |  |  | (568) |  |  | (508) |
2027 Convertible notes, net | (566) |  |  | (541) |  |  | (563) |  |  | (513) |
Non-interest bearing note payable, net | — |  |  | — |  |  | (4) |  |  | (4) |
Total financial liabilities | $ | (5,026) |  |  | $ | (4,958) |  |  | $ | (4,956) |  |  | $ | (4,749) |
Vacation Ownership Notes Receivable
| At December 31, 2024 |  | At December 31, 2023
($ in millions) | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Securitized | $ | 1,917 |  |  | $ | 1,981 |  |  | $ | 1,912 |  |  | $ | 1,994 |
Eligible for securitization | 94 |  |  | 98 |  |  | 52 |  |  | 54 |
Not eligible for securitization | 429 |  |  | 429 |  |  | 379 |  |  | 379 |
Non-securitized | 523 |  |  | 527 |  |  | 431 |  |  | 433 |
Total | $ | 2,440 |  |  | $ | 2,508 |  |  | $ | 2,343 |  |  | $ | 2,427 |

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsAllOtherInvestmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration