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SECURITIZED DEBT (Tables)
 12 Months Ended
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, 2024At 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 
2026183 6 189 
2027186 112 298 
2028187 — 187 
2029183 — 183 
Thereafter1,123 — 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)20252026202720282029ThereafterTotal
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