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FINANCIAL INSTRUMENTS - Carrying Values and Estimated Fair Values (Details) - USD ($) $ in Millions | Mar. 31, 2025 | Dec. 31, 2024
--- | --- | ---
Carrying Amount |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |
Vacation ownership notes receivable, net | $ 2,446 | $ 2,440
Contracts receivable for financed VOI sales, net | 50 | 46
Other assets | 130 | 131
Total financial assets | 2,626 | 2,617
Total financial liabilities | (5,099) | (5,026)
Fair Value |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |
Vacation ownership notes receivable, net | 2,510 | 2,508
Contracts receivable for financed VOI sales, net | 50 | 46
Other assets | 130 | 131
Total financial assets | 2,690 | 2,685
Total financial liabilities | (5,025) | (4,958)
Securitized debt, net | Carrying Amount |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |
Debt instrument, fair value | (2,147) | (2,136)
Securitized debt, net | Fair Value |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |
Debt instrument, fair value | (2,166) | (2,147)
2028 Notes, net | Senior notes | Carrying Amount |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |
Debt instrument, fair value | (348) | (348)
2028 Notes, net | Senior notes | Fair Value |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |
Debt instrument, fair value | (333) | (336)
2029 Notes, net | Senior notes | Carrying Amount |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |
Debt instrument, fair value | (496) | (496)
2029 Notes, net | Senior notes | Fair Value |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |
Debt instrument, fair value | (460) | (467)
2026 Convertible Notes, net | Carrying Amount |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |
Convertible notes, net | (572) | (572)
2026 Convertible Notes, net | Fair Value |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |
Convertible notes, net | (551) | (546)
2027 Convertible Notes, net | Carrying Amount |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |
Convertible notes, net | (567) | (566)
2027 Convertible Notes, net | Fair Value |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |
Convertible notes, net | (533) | (541)
Line of Credit | Term Loan, net | Carrying Amount |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |
Debt instrument, fair value | (784) | (786)
Line of Credit | Term Loan, net | Fair Value |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |
Debt instrument, fair value | (792) | (796)
Line of Credit | Revolving Corporate Credit Facility, net | Carrying Amount |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |
Debt instrument, fair value | (185) | (122)
Line of Credit | Revolving Corporate Credit Facility, net | Fair Value |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |
Debt instrument, fair value | $ (190) | $ (125)

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- Definition Fair value of financial obligations, including, but not limited to, debt instruments, derivative liabilities, federal funds purchased and sold under agreements to repurchase, securities loaned or sold under agreements to repurchase, financial instruments sold not yet purchased, guarantees, line of credit, loans and notes payable, servicing liability, and trading liabilities. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2E -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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