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Inventory (Tables)
12 Months Ended
Dec. 31, 2021
Inventory Disclosure [Abstract]  
Schedule of Inventory

Inventory was comprised of the following:

 

 

 

December 31,

 

($ in millions)

 

2021

 

 

2020

 

Completed unsold VOIs

 

$

1,219

 

 

$

515

 

Construction in process

 

 

20

 

 

 

186

 

Land, infrastructure and other

 

 

1

 

 

 

1

 

 

 

$

1,240

 

 

$

702

 

Schedule of expense incurred when customers upgrade existing ownership to fee-for-service project

Shown below are (i) costs of sales true-ups relating to VOI products and the related impacts to the carrying value of inventory and (ii) expenses incurred, recorded in Cost of VOI sales, related to granting credit to customers for their existing ownership when upgrading into fee-for-service projects.

 

 

 

December 31,

 

($ in millions)

 

2021

 

 

2020

 

 

2019

 

Cost of sales true-up(1)

 

$

2

 

 

$

6

 

 

$

14

 

Cost of VOI sales related to fee-for-service upgrades

 

 

7

 

 

 

9

 

 

 

31

 

 

(1) Cost of sales true ups reduced costs of VOI sales and increased inventory in all periods presented.