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SECURITIZED DEBT (Tables)
 9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Schedule of securitized vacation ownership debt
The following table provides detail on our securitized debt, net of unamortized debt discount and issuance costs.
($ in millions)At September 30, 2023At December 31, 2022
Vacation ownership notes receivable securitizations, gross(1)
$1,703 $1,799 
Unamortized debt discount and issuance costs(20)(21)
1,683 1,778 
Warehouse Credit Facility, gross(2)
345 162 
Unamortized debt issuance costs(2)(2)
343 160 
$2,026 $1,938 
(1)Interest rates as of September 30, 2023 range from 1.5% to 6.6%, with a weighted average interest rate of 3.8%.
(2)Effective interest rate as of September 30, 2023 was 6.8%.
Scheduled future principal payments for debt
The following table shows anticipated future principal payments for our securitized debt as of September 30, 2023.
Vacation Ownership
Notes Receivable Securitizations
Warehouse Credit
Facility(1)
Total
($ in millions)
Payments Year
2023, remaining$42 $4 $46 
2024171 17 188 
2025173 18 191 
2026176 306 482 
2027176 — 176 
Thereafter965 — 965 
$1,703 $345 $2,048 
(1)Excludes future Warehouse Credit Facility renewals.
The following table shows scheduled principal payments for our debt, based on contractual terms and maturity dates, excluding finance leases, as of September 30, 2023.
Payments Year
($ in millions)Remaining 20232024202520262027ThereafterTotal
Term Loan$— $— $784 $— $— $— $784 
Revolving Corporate Credit Facility— — — — 90 — 90 
2028 Notes— — — — — 350 350 
2029 Notes— — — — — 500 500 
2026 Convertible Notes— — — 575 — — 575 
2027 Convertible Notes— — — — 575 — 575 
Non-Interest Bearing Note Payable— 4 — — — — 4 
$— $4 $784 $575 $665 $850 $2,878