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SECURITIZED DEBT (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of securitized vacation ownership debt | The following table provides detail on our securitized debt, net of unamortized debt discount and issuance costs.
($ in millions) | At December 31, 2024 |  | At December 31, 2023
Vacation ownership notes receivable securitizations, gross(1) | $ | 2,039 |  |  | $ | 1,971 |
Unamortized debt discount and issuance costs | (25) |  |  | (23) |
|  | 2,014 |  |  | 1,948 |
Warehouse Credit Facility, gross(2) | 124 |  |  | 150 |
Unamortized debt issuance costs | (2) |  |  | (2) |
|  | 122 |  |  | 148 |
|  | $ | 2,136 |  |  | $ | 2,096 |
(1)Interest rates as of December 31, 2024 range from 1.5% to 6.6%, with a weighted average interest rate of 4.7%. (2)Effective interest rate as of December 31, 2024 was 5.7%.
Scheduled future principal payments for debt | The following table shows anticipated future principal payments for our securitized debt as of December 31, 2024.
| Vacation Ownership Notes Receivable Securitizations |  | Warehouse Credit Facility(1) |  |  |  | Total
($ in millions) |  |  |
Payments Year |  |  |  |  |  |  |
2025 | $ | 177 |  |  | $ | 6 |  |  |  |  | $ | 183 |
2026 | 183 |  |  | 6 |  |  |  |  | 189 |
2027 | 186 |  |  | 112 |  |  |  |  | 298 |
2028 | 187 |  |  | — |  |  |  |  | 187 |
2029 | 183 |  |  | — |  |  |  |  | 183 |
Thereafter | 1,123 |  |  | — |  |  |  |  | 1,123 |
| $ | 2,039 |  |  | $ | 124 |  |  |  |  | $ | 2,163 |
(1)Excludes future Warehouse Credit Facility renewals. The following table shows scheduled principal payments for our debt, excluding finance leases, as of December 31, 2024.
| Payments Year
($ in millions) | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total
Term Loan | $ | 8 |  |  | $ | 8 |  |  | $ | 8 |  |  | $ | 8 |  |  | $ | 8 |  |  | $ | 756 |  |  | $ | 796 |
Revolving Corporate Credit Facility | — |  |  | — |  |  | 125 |  |  | — |  |  | — |  |  | — |  |  | 125 |
2028 Notes | — |  |  | — |  |  | — |  |  | 350 |  |  | — |  |  | — |  |  | 350 |
2029 Notes | — |  |  | — |  |  | — |  |  | — |  |  | 500 |  |  | — |  |  | 500 |
2026 Convertible Notes | — |  |  | 575 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 575 |
2027 Convertible Notes | — |  |  | — |  |  | 575 |  |  | — |  |  | — |  |  | — |  |  | 575 |
| $ | 8 |  |  | $ | 583 |  |  | $ | 708 |  |  | $ | 358 |  |  | $ | 508 |  |  | $ | 756 |  |  | $ | 2,921 |

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