XML 62 R45.htm IDEA: XBRL DOCUMENT v3.25.0.1

DEBT (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Debt balances, net of unamortized debt issuance costs

The following table provides detail on our debt balances, net of unamortized debt discount and issuance costs:

($ in millions)						At December 31, 2024						At December 31, 2023
Corporate Credit Facility
			Term Loan(1)			$	796					$	784
			Unamortized debt discount and issuance costs			(10)						(3)
						786						781
			Revolving Corporate Credit Facility(2)			125						105
			Unamortized debt issuance costs			(3)						(4)
						122						101
Senior Unsecured Notes
			2028 Notes			350						350
			Unamortized debt discount and issuance costs			(2)						(2)
						348						348
			2029 Notes			500						500
			Unamortized debt discount and issuance costs			(4)						(5)
						496						495
Convertible Notes
			2026 Convertible Notes			575						575
			Unamortized debt discount and issuance costs			(3)						(7)
						572						568
			2027 Convertible Notes			575						575
			Unamortized debt discount and issuance costs			(9)						(12)
						566						563
Finance Leases						199						189
Non-Interest Bearing Note Payable						—						4
						$	3,089					$	3,049

(1)The effective interest rate as of December 31, 2024 was 6.6%.

(2)The effective interest rate as of December 31, 2024 was 6.3%.

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

Schedule of cash flow hedges included in accumulated other comprehensive income (loss)

The following table reflects the activity in accumulated other comprehensive income or loss related to our derivative instruments during 2024, 2023 and 2022. There were no reclassifications to the Income Statement for any of the periods presented below.

($ in millions)			2024						2023						2022
Derivative Instrument Adjustment, Beginning of Year			$	3					$	13					$	(18)
Other comprehensive (loss) gain before reclassifications			(3)						(10)						31
Derivative Instrument Adjustment, End of Year			$	—					$	3					$	13

Convertible debt

The following table provides the components of interest expense related to the 2027 Convertible Notes.

($ in millions)			2024						2023						2022
Contractual interest expense			$	19					$	19					$	1
Amortization of debt issuance costs			3						3						—
			$	22					$	22					$	1

X

- Definition

Tabular disclosure of convertible debt instrument. Includes, but is not limited to, principal amount and amortized premium or discount.

+ References

No definition available.

+ Details

Name:	us-gaap_ConvertibleDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_DebtDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

+ Details

Name:	us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-1

+ Details

Name:	us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration