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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Carrying and Estimated Fair Value Amounts

The carrying amounts and estimated fair values of our financial assets and liabilities were as follows:

 

 

 

March 31, 2022

 

 

 

 

 

 

Hierarchy Level

 

($ in millions)

 

Carrying
Amount

 

 

Level 1

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

Timeshare financing receivables, net(1)

 

$

1,718

 

 

$

 

 

$

1,836

 

Liabilities:

 

 

 

 

 

 

 

 

 

Debt, net(2)

 

 

2,913

 

 

 

2,564

 

 

 

338

 

Non-recourse debt, net(2)

 

 

1,203

 

 

 

905

 

 

 

291

 

 

 

 

December 31, 2021

 

 

 

 

 

 

Hierarchy Level

 

($ in millions)

 

Carrying
Amount

 

 

Level 1

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

Timeshare financing receivables, net(1)

 

$

1,747

 

 

$

 

 

$

1,905

 

Liabilities:

 

 

 

 

 

 

 

 

 

Debt, net(2)

 

 

2,913

 

 

 

2,663

 

 

 

340

 

Non-recourse debt, net(2)

 

 

1,328

 

 

 

1,080

 

 

 

270

 

(1) Carrying amount net of allowance for financing receivables losses.

(2) Carrying amount net of unamortized deferred financing costs and discount.