FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2020

Investments, All Other Investments [Abstract]

Carrying values and estimated fair values of financial assets and liabilities

The following table shows the carrying values and the estimated fair values of financial assets and liabilities that qualify as financial instruments, determined in accordance with the authoritative guidance for disclosures regarding the fair value of financial instruments. Considerable judgment is required in interpreting market data to develop estimates of fair value. The use of different market assumptions and/or estimation methodologies could have a material effect on the estimated fair value amounts. The table excludes Cash and cash equivalents, Restricted cash, Accounts receivable, Accounts payable, Advance deposits and Accrued liabilities, all of which had fair values approximating their carrying amounts due to the short maturities and liquidity of these instruments.

	At June 30, 2020				At December 31, 2019
($ in millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Vacation ownership notes receivable	$	2,014	$	2,066	$	2,233	$	2,264
Other assets	48		48		45		45
Total financial assets	$	2,062	$	2,114	$	2,278	$	2,309
Securitized debt, net	$	(1,887)	$	(1,893)	$	(1,871)	$	(1,924)
2025 Notes, net	(493)		(512)		—		—
2026 Notes, net	(743)		(760)		(742)		(824)
2028 Notes, net	(345)		(320)		(345)		(358)
Term Loan, net	(878)		(832)		(881)		(899)
Revolving Corporate Credit Facility, net	—		—		(27)		(27)
Convertible Notes, net	(211)		(212)		(207)		(247)
Total financial liabilities	$	(4,557)	$	(4,529)	$	(4,073)	$	(4,279)

Vacation Ownership Notes Receivable

	At June 30, 2020				At December 31, 2019
($ in millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Vacation ownership notes receivable
Securitized	$	1,797	$	1,841	$	1,750	$	1,771
Eligible for securitization	35		43		165		175
Not eligible for securitization	182		182		318		318
Non-securitized	217		225		483		493
	$	2,014	$	2,066	$	2,233	$	2,264