Condensed Consolidated Statements of Cash Flows (UNAUDITED) - USD ($)		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Operating Activities
Net income (loss)	[1]	$ 50,768,844	$ (6,771,415)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization		60,000,000	11,000,000
Amortization of deferred financing costs, acquisition premiums and other		12,000,000	6,000,000
Provision for financing receivables losses		31,000,000	16,000,000
Impairment expense		3,000,000	1,000,000
Other loss, net		0	1,000,000
Share-based compensation		11,000,000	4,000,000
Deferred income tax expense (benefit)		0	(21,000,000)
Equity in earnings from unconsolidated affiliates		(3,000,000)	(2,000,000)
Net changes in assets and liabilities, net of effects of acquisition:
Accounts receivable, net		(107,000,000)	8,000,000
Timeshare financing receivables, net		(11,000,000)	19,000,000
Inventory		26,000,000	(14,000,000)
Purchases and development of real estate for future conversion to inventory		(1,000,000)	(6,000,000)
Other assets		(264,000,000)	(27,000,000)
Accounts payable, accrued expenses and other		290,000,000	2,000,000
Advanced deposits		14,000,000	(3,000,000)
Deferred revenues		158,000,000	74,000,000
Net cash provided by operating activities		270,000,000	62,000,000
Investing Activities
Capital expenditures for property and equipment		(8,000,000)	(1,000,000)
Software capitalization costs		(6,000,000)	(4,000,000)
Net cash provided by (used in) investing activities		(14,000,000)	(5,000,000)
Financing Activities
Issuance of non-recourse debt		155,000,000	0
Repayment of debt		(3,000,000)	(2,000,000)
Repayment of non-recourse debt		(277,000,000)	(69,000,000)
Debt issuance costs and discounts		0	(3,000,000)
Payment of withholding taxes on vesting of restricted stock units		(8,000,000)	(5,000,000)
Proceeds from stock option exercises		1,000,000	2,000,000
Other financing activity		(1,000,000)	(1,000,000)
Net cash used in financing activities		(133,000,000)	(78,000,000)
Effect of changes in exchange rates on cash, cash equivalents & restricted cash		(1,000,000)	0
Net increase (decrease) in cash, cash equivalents and restricted cash		122,000,000	(21,000,000)
Cash, cash equivalents and restricted cash, beginning of period		695,000,000	526,000,000
Cash, cash equivalents and restricted cash, end of period		$ 817,000,000	$ 505,000,000

[1] Net income (loss) for the three months ended March 31, 2022 and 2021 was $50,768,844 and $(6,771,415), respectively.