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BUSINESS SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The table below presents the following for the periods presented: revenues, disaggregated by segment, reconciled to consolidated revenue; segment expenses, including significant expense categories and amounts that align with segment-level information regularly provided to our CODM; and segment Adjusted EBITDA reconciled to Net income attributable to common stockholders.

			Three Months Ended																																				Six Months Ended
			June 30, 2025																		June 30, 2024																		June 30, 2025																		June 30, 2024
($ in millions)			Vacation Ownership						Exchange & Third-Party Management						Total						Vacation Ownership						Exchange & Third-Party Management						Total						Vacation Ownership						Exchange & Third-Party Management						Total						Vacation Ownership						Exchange & Third-Party Management						Total
Revenues from external customers			$	1,188					$	53					$	1,241					$	1,078					$	58					$	1,136					$	2,323					$	111					$	2,434					$	2,208					$	123					$	2,331
Reconciliation of revenues
Corporate and other(1)															5																		4																		12																		4
Total consolidated revenues															$	1,246																	$	1,140																	$	2,446																	$	2,335
Cost of vacation ownership products			$	(41)					$	—											$	(38)					$	—											$	(83)					$	—											$	(91)					$	—
Marketing and sales			(237)						—												(226)						—												(471)						—												(449)						—
Management and exchange			(76)						(29)												(73)						(31)												(148)						(58)												(144)						(62)
Rental			(129)						—												(113)						—												(255)						—												(223)						—
Financing			(37)						—												(35)						—												(73)						—												(69)						—
Royalty fee			(28)						—												(29)						—												(56)						—												(57)						—
Other segment items(2)(3)			(409)						(1)												(383)						(2)												(785)						(2)												(781)						(4)
Segment Adjusted EBITDA			231						23						254						181						25						206						452						51						503						394						57						451
Corporate and other(1)															(51)																		(48)																		(108)																		(106)
Interest expense, net															(42)																		(43)																		(82)																		(83)
Depreciation and amortization															(38)																		(35)																		(76)																		(73)
Share-based compensation expense															(12)																		(9)																		(19)																		(16)
Amortization of cloud computing software implementation costs(3)															(1)																		(1)																		(2)																		(1)
Certain items															(16)																		(23)																		(21)																		(43)
Provision for income taxes															(25)																		(10)																		(70)																		(45)
Net income attributable to common stockholders															$	69																	$	37																	$	125																	$	84

(1)Corporate and Other consist of results that are not allocable to our segments, including company-wide general and administrative expenses, corporate interest expense, transaction and integration costs, and income taxes. In addition, Corporate and Other includes revenues and expenses from Consolidated Property Owners’ Associations. Our CODM does not use this information for operating segment resource allocations.

(2)Other segment items include cost reimbursements, non-cash share-based compensation, amortization of cloud computing software implementation costs, and other.

(3)Prior year amounts have been reclassified to conform with our current year presentation.

Assets

Assets

($ in millions)			At June 30, 2025						At December 31, 2024
Vacation Ownership			$	8,430					$	8,296
Exchange & Third-Party Management			754						777
Total segment assets			9,184						9,073
Corporate and other			703						735
			$	9,887					$	9,808

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

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-Topic 280
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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

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