Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 196	$ 48
Restricted cash	78	103
Accounts receivable, net of allowance for doubtful accounts of $7 and $6	115	123
Timeshare financing receivables, net	1,017	1,025
Inventory	507	513
Property and equipment, net	254	256
Intangible assets, net	69	70
Other assets	71	42
TOTAL ASSETS (variable interest entities - $576 and $258)	2,307	2,180
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other	264	231
Advanced deposits	107	103
Debt	488	490
Non-recourse debt	695	694
Deferred revenues	142	106
Deferred income tax liabilities	385	389
Total liabilities (variable interest entities - $569 and $245)	2,081	2,013
Commitments and contingencies - see Note 14
Equity:
Preferred stock, $0.01 par value; 300,000,000 authorized shares, none issued or outstanding as of March 31, 2017 and December 31, 2016	0	0
Common stock, $0.01 par value; 3,000,000,000 authorized shares, 99,038,837 issued and outstanding as of March 31, 2017 and 98,802,597 issued and outstanding as of December 31, 2016	1	1
Additional paid-in capital	147	138
Accumulated retained earnings	78	28
Total equity	226	167
TOTAL LIABILITIES AND EQUITY	$ 2,307	$ 2,180