Condensed Consolidated Statements of Cash Flows (UNAUDITED) - USD ($)		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020
Operating Activities
Net income (loss)		$ 1,929,361	$ (39,924,584)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization		23,000,000	23,000,000
Amortization of deferred financing costs, contract costs, and other		10,000,000	9,000,000
Provision for financing receivables losses	[1]	28,000,000	45,000,000
Impairment expense		1,000,000
Other loss, net		2,000,000	1,000,000
Share-based compensation		18,000,000	4,000,000
Deferred income tax expense (benefit)		9,000,000	(31,000,000)
Equity in earnings from unconsolidated affiliates		(6,000,000)	(4,000,000)
Net changes in assets and liabilities:
Accounts receivable, net		(101,000,000)	100,000,000
Timeshare financing receivables, net		18,000,000	58,000,000
Inventory		(29,000,000)	(36,000,000)
Purchases and development of real estate for future conversion to inventory		(17,000,000)	(19,000,000)
Other assets		(35,000,000)	(33,000,000)
Accounts payable, accrued expenses and other		59,000,000	72,000,000
Advanced deposits		0	1,000,000
Deferred revenues		110,000,000	82,000,000
Net cash provided by operating activities		92,000,000	88,000,000
Investing Activities
Capital expenditures for property and equipment		(4,000,000)	(4,000,000)
Software capitalization costs		(9,000,000)	(11,000,000)
Net cash used in investing activities		(13,000,000)	(15,000,000)
Financing Activities
Issuance of debt		1,350,000,000	495,000,000
Issuance of non-recourse debt		0	495,000,000
Repayment of debt		(55,000,000)	(60,000,000)
Repayment of non-recourse debt		(118,000,000)	(313,000,000)
Debt issuance costs		(3,000,000)	(6,000,000)
Repurchase and retirement of common stock		0	(10,000,000)
Payment of withholding taxes on vesting of restricted stock units		(5,000,000)	(2,000,000)
Proceeds from employee stock plan purchases		1,000,000
Proceeds from stock option exercises		6,000,000
Other financing activity		(1,000,000)	(1,000,000)
Net cash provided by financing activities		1,175,000,000	598,000,000
Net increase in cash, cash equivalents and restricted cash		1,254,000,000	671,000,000
Cash, cash equivalents and restricted cash, beginning of period		526,000,000	152,000,000
Cash, cash equivalents and restricted cash, end of period		1,780,000,000	823,000,000
Supplementary disclosure of non-cash operating activities:
Non-cash transfer from Inventory to Property and Equipment		$ 0	$ 301,000,000

[1] Includes incremental provision for financing receivables losses, net of activity related to the repurchase of defaulted and upgraded securitized timeshare financing receivables.