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BUSINESS SEGMENTS (Tables)
 12 Months Ended
Dec. 31, 2018
Segment Reporting [Abstract]  
Revenues Revenues
($ in millions)
2018
 
2017
 
2016
Vacation Ownership
$
2,803

 
$
2,183

 
$
2,000

Exchange & Third-Party Management
161

 
—

 
—

Total segment revenues
2,964

 
2,183

 
2,000

Corporate and other
4

 
—

 
—

 
$
2,968

 
$
2,183

 
$
2,000
Adjusted EBITDA, Net Income, Depreciation and Amortization Adjusted EBITDA and Reconciliation to Net Income Attributable to Common Shareholders
($ in millions)
2018
 
2017
 
2016
Adjusted EBITDA Vacation Ownership
$
511

 
$
383

 
$
326

Adjusted EBITDA Exchange & Third-Party Management
77

 
—

 
—

Reconciling items:
 
 
 
 
 
Corporate and other
(169
)
 
(89
)
 
(89
)
Interest expense
(54
)
 
(10
)
 
(9
)
Tax provision
(51
)
 
(5
)
 
(76
)
Depreciation and amortization
(62
)
 
(21
)
 
(21
)
Share-based compensation expense
(35
)
 
(16
)
 
(14
)
Certain items
(162
)
 
(7
)
 
5

Net income attributable to common shareholders
$
55

 
$
235

 
$
122

Depreciation and Amortization
($ in millions)
2018
 
2017
 
2016
Vacation Ownership
$
37

 
$
17

 
$
16

Exchange & Third-Party Management
16

 
—

 
—

Total segment depreciation
53

 
17

 
16

Corporate and other
9

 
4

 
5

 
$
62

 
$
21

 
$
21
Assets Assets
($ in millions)
2018
 
2017
Vacation Ownership
$
7,275

 
$
2,279

Exchange & Third-Party Management
1,182

 
—

Total segment assets
8,457

 
2,279

Corporate and other
561

 
566

 
$
9,018

 
$
2,845
Capital Expenditures (including inventory) Capital Expenditures (including inventory)
($ in millions)
2018
 
2017
 
2016
Vacation Ownership
$
245

 
$
174

 
$
164

Exchange & Third-Party Management
5

 
—

 
—

Total segment capital expenditures
250

 
174

 
164

Corporate and other
2

 
7

 
9

 
$
252

 
$
181

 
$
173
Revenue by Geographic Areas Revenues (excluding cost reimbursements)
($ in millions)
2018
 
2017
 
2016
United States
$
1,780

 
$
1,247

 
$
1,090

All other countries
263

 
186

 
190

 
$
2,043

 
$
1,433

 
$
1,280
Fixed Assets by Geographic Areas Fixed Assets
($ in millions)
2018
 
2017
United States
$
748

 
$
506

All other countries
203

 
77

 
$
951

 
$
583