Consolidated Balance Sheets - USD ($) $ in Millions		Dec. 31, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents		$ 432	$ 428
Restricted cash		263	98
Accounts receivable, net of allowance for doubtful accounts of $39 and $20		302	119
Timeshare financing receivables, net		1,747	974
Inventory		1,240	702
Property and equipment, net		756	501
Operating lease right-of-use assets, net		70	52
Investments in unconsolidated affiliates		59	51
Goodwill		1,377	0
Intangible assets, net		1,441	81
Land and infrastructure held for sale		41	41
Other assets		280	87
TOTAL ASSETS (variable interest entities - $1,100 and $800)		8,008	3,134
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other	[1]	673	252
Advanced deposits		112	117
Debt, net	[2],[3]	2,913	1,159
Non-recourse debt, net		1,328	766
Operating lease liabilities		87	67
Deferred revenues		237	262
Deferred income tax liabilities		670	137
Total liabilities (variable interest entities - $1,199 and $771)		6,020	2,760
Commitments and contingencies - see Note 23
Equity:
Preferred stock, $0.01 par value; 300,000,000 authorized shares, none issued or outstanding as of December 31, 2021 and 2020		0	0
Common stock, $0.01 par value; 3,000,000,000 authorized shares,119,904,001 shares issued and outstanding as of December 31, 2021 and 85,205,012 shares issued and outstanding as of December 31, 2020		1	1
Additional paid-in capital		1,630	192
Accumulated retained earnings		357	181
Accumulated other comprehensive income		0	0
Total equity		1,988	374
TOTAL LIABILITIES AND EQUITY		$ 8,008	$ 3,134

[1] Other accrued expenses includes interest payables, accrued marketing expenses, and various accrued liabilities which are primarily driven by the Diamond Acquisition.

[2] Amount does not include deferred financing costs of $5 and $4 million as of December 31, 2021 and 2020, respectively, relating to our revolving facility included in Other Assets in our consolidated balance sheets.

[3] Amount includes deferred financing costs related to our term loan and senior notes of $33 million and $22 million, respectively, as of December 31, 2021 and $1 million and $4 million, respectively, as of December 31, 2020. This amount also includes original issuance discounts of $6 million as of December 31, 2021.