XML 47 R23.htm IDEA: XBRL DOCUMENT

Timeshare Financing Receivables (Tables)

3 Months Ended

Mar. 31, 2017

Receivables [Abstract]

Schedule of financing receivables

Timeshare financing receivables were as follows:



	March 31, 2017
($ in millions)	Securitized				Unsecuritized				Total
Timeshare financing receivables	$	577			$	564			$	1,141
Less: allowance for loan loss	(37		)		(87		)		(124		)
	$	540			$	477			$	1,017



	December 31, 2016
($ in millions)	Securitized				Unsecuritized				Total
Timeshare financing receivables	$	253			$	892			$	1,145
Less: allowance for loan loss	(9		)		(111		)		(120		)
	$	244			$	781			$	1,025

Schedule of future payments due from financing receivables

Our timeshare financing receivables as of March 31, 2017 mature as follows:



($ in millions)	Securitized				Unsecuritized				Total
Year
2017 (remaining)	$	82			$	58			$	140
2018	82				51				133
2019	80				54				134
2020	77				57				134
2021	70				59				129
Thereafter	186				285				471
	577				564				1,141
Less: allowance for loan loss	(37		)		(87		)		(124		)
	$	540			$	477			$	1,017

Schedule of financing receivables by FICO score

Our gross timeshare financing receivables balances by FICO score were as follows:



	March 31,				December 31,
($ in millions)	2017				2016
FICO score
700+	$	724			$	725
600-699	213				211
<600	28				28
No score⁽¹⁾	176				181
	$	1,141			$	1,145

____________


⁽¹⁾	Timeshare financing receivables without a FICO score are primarily related to foreign borrowers.

Schedule of past due financing receivables

The following tables detail an aged analysis of our gross timeshare financing receivables balance:



	March 31, 2017
($ in millions)	Securitized				Unsecuritized				Total
Current	$	566			$	517			$	1,083
31 - 90 days past due	8				9				17
91 - 120 days past due	1				4				5
121 days and greater past due	2				34				36
	$	577			$	564			$	1,141



	December 31, 2016
($ in millions)	Securitized				Unsecuritized				Total
Current	$	248			$	847			$	1,095
31 - 90 days past due	3				9				12
91 - 120 days past due	1				4				5
121 days and greater past due	1				32				33
	$	253			$	892			$	1,145

Schedule of change in allowance for loan loss

The changes in our allowance for loan loss were as follows:



	March 31, 2017
($ in millions)	Securitized				Unsecuritized				Total
Balance as of December 31, 2016	$	9			$	111			$	120
Write-offs	—				(7		)		(7		)
Securitizations	28				(28		)		—
Provision for loan loss ⁽¹⁾	—				11				11
Balance as of March 31, 2017	$	37			$	87			$	124



	March 31, 2016
($ in millions)	Securitized				Unsecuritized				Total
Balance as of December 31, 2015	$	17			$	89			$	106
Write-offs	—				(9		)		(9		)
Provision for loan loss ⁽¹⁾	(3		)		13				10
Balance as of March 31, 2016	$	14			$	93			$	107

____________


⁽¹⁾	Includes activity related to repurchase of defaulted and upgraded securitized timeshare financing receivables, net of incremental provision for loan loss.