XML 111 R96.htm IDEA: XBRL DOCUMENT v3.22.0.1
Debt & Non-recourse Debt - Schedule of Outstanding Borrowings (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Jun. 30, 2021
Dec. 31, 2020
Debt Instrument [Line Items]      
Long-term debt, gross [1] $ 2,974   $ 1,164
Less: unamortized deferred financing costs and discount [2],[3] (61)   (5)
Long-term debt [2],[3] 2,913   1,159
Revolving Credit Facility      
Debt Instrument [Line Items]      
Less: unamortized deferred financing costs and discount (5)    
Revolver with a rate of 2.11%, Due 2028 [Member] | Revolving Credit Facility      
Debt Instrument [Line Items]      
Long-term debt, gross [1] 300   0
Senior notes with a rate of 5.000%, due 2029      
Debt Instrument [Line Items]      
Long-term debt, gross   $ 850  
Senior notes with a rate of 4.875%, due 2031      
Debt Instrument [Line Items]      
Long-term debt, gross   500  
Line of Credit      
Debt Instrument [Line Items]      
Less: unamortized deferred financing costs and discount (33)   (1)
Line of Credit | Term loan with a rate of 3.50%, Due 2028      
Debt Instrument [Line Items]      
Long-term debt, gross [1] 1,297   0
Line of Credit | Senior notes with a rate of 6.125%, due 2024      
Debt Instrument [Line Items]      
Long-term debt, gross [1] 0   300
Line of Credit | Senior notes with a rate of 5.000%, due 2029      
Debt Instrument [Line Items]      
Long-term debt, gross [1] 850   0
Senior Notes      
Debt Instrument [Line Items]      
Less: unamortized deferred financing costs and discount (22) $ (24) (4)
Senior Notes | Term loan with a rate of 2.25%, Due 2023 [Member]      
Debt Instrument [Line Items]      
Long-term debt, gross [1] 0   177
Senior Notes | Revolver with a rate of 2.25%, Due 2023 [Member]      
Debt Instrument [Line Items]      
Long-term debt, gross [1] 0   660
Senior Notes | Senior notes with a rate of 4.875%, due 2031      
Debt Instrument [Line Items]      
Long-term debt, gross [1] 500   0
Senior Notes | Other Debt [Member]      
Debt Instrument [Line Items]      
Long-term debt, gross [1] 27   27
Senior Notes | Securitized Debt with a weighted average rate of 3.658%, due 2039      
Debt Instrument [Line Items]      
Long-term debt, gross [4] 193   251
Senior Notes | Diamond Resorts Owner Trust 2017 with a weighted average rate of 3.504%, due 2029      
Debt Instrument [Line Items]      
Long-term debt, gross [4] 41   0
Senior Notes | Diamond Resorts Owner Trust 2018 with a weighted average rate of 4.061%, due 2031      
Debt Instrument [Line Items]      
Long-term debt, gross [4] 92   0
Non-recourse Debt      
Debt Instrument [Line Items]      
Long-term debt, gross [4] 1,334   775
Less: unamortized deferred financing costs and discount [5] (6)   (9)
Long-term debt [5] 1,328   766
Non-recourse Debt | Timeshare Facility with an average rate of 1.017%, due 2023      
Debt Instrument [Line Items]      
Long-term debt, gross [4] 131   0
Non-recourse Debt | Securitized Debt with an average rate of 2.711%, due 2028      
Debt Instrument [Line Items]      
Long-term debt, gross [4] 70   106
Non-recourse Debt | Securitized Debt with an average rate of 3.602%, due 2032      
Debt Instrument [Line Items]      
Long-term debt, gross [4] 143   202
Non-recourse Debt | Securitized Debt with a weighted average rate of 2.431%, due 2033      
Debt Instrument [Line Items]      
Long-term debt, gross [4] 151   216
Non-recourse Debt | Diamond Resorts Premium Yield Facility with an average rate of 4.766%, due 2031      
Debt Instrument [Line Items]      
Long-term debt, gross [4] 8   0
Non-recourse Debt | Diamond Resorts Conduit Facility with an average rate of 2.250%, due 2023      
Debt Instrument [Line Items]      
Long-term debt, gross [4] 125   0
Non-recourse Debt | Diamond Resorts Conduit Facility with an average rate of 3.000%, due 2024      
Debt Instrument [Line Items]      
Long-term debt, gross [4] 8   0
Non-recourse Debt | Diamond Resorts Owner Trust 2019 with a weighted average rate of 3.277%, due 2032      
Debt Instrument [Line Items]      
Long-term debt, gross [4] 148   0
Non-recourse Debt | Diamond Resorts Owner Trust 2021 with a weighted average rate of 2.160%, due 2032      
Debt Instrument [Line Items]      
Long-term debt, gross [4] $ 224   $ 0
[1] As of December 31, 2021 and 2020, weighted-average interest rates were 4.052% and 3.357% , respectively.
[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.
[4] As of December 31, 2021 and 2020, weighted-average interest rates were 2.876 percent and 3.173 percent, respectively.
[5] Amount relates to Securitized Debt only and does not include deferred financing costs of $2 million and $3 million as of December 31, 2021 and 2020, respectively, relating to our Timeshare Facility included in Other Assets in our consolidated balance sheets.