SECURITIZED DEBT (Tables)

3 Months Ended

Mar. 31, 2024

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 March 31, 2024		At December 31, 2023
Vacation ownership notes receivable securitizations, gross(1)	$	2,205	$	1,971
Unamortized debt discount and issuance costs	(27)		(23)
	2,178		1,948
Warehouse Credit Facility, gross	—		150
Unamortized debt issuance costs(2)	—		(2)
	—		148
	$	2,178	$	2,096
(1)Interest rates as of March 31, 2024 range from 1.5% to 6.6%, with a weighted average interest rate of 4.7%.
(2)Excludes $1 million of unamortized debt issuance costs as of March 31, 2024, as no cash borrowings were outstanding on the Warehouse Credit Facility at that time.

Scheduled future principal payments for debt

The following table shows anticipated future principal payments for our securitized debt as of March 31, 2024.

	Vacation Ownership Notes Receivable Securitizations
($ in millions)
Payment Year
2024, remaining	$	143
2025	194
2026	201
2027	204
2028	202
Thereafter	1,261
	$	2,205

The following table shows scheduled principal payments for our debt, excluding finance leases, as of March 31, 2024.

	Payments Year
($ in millions)	Remaining 2024		2025		2026		2027		2028		Thereafter		Total
Term Loan	$	—	$	784	$	—	$	—	$	—	$	—	$	784
Revolving Corporate Credit Facility	—		—		—		160		—		—		160
2028 Notes	—		—		—		—		350		—		350
2029 Notes	—		—		—		—		—		500		500
2026 Convertible Notes	—		—		575		—		—		—		575
2027 Convertible Notes	—		—		—		575		—		—		575
	$	—	$	784	$	575	$	735	$	350	$	500	$	2,944