Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

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



	March 31, 2017
			Hierarchy Level
($ in millions)	Carrying Amount		Level 1		Level 3
Assets:
Timeshare financing receivables⁽¹⁾	$	1,017	$	—	$	1,142
Liabilities:
Debt⁽²⁾	488		318		192
Non-recourse debt⁽²⁾	695		—		699



	December 31, 2016
			Hierarchy Level
($ in millions)	Carrying Amount		Level 1		Level 3
Assets:
Timeshare financing receivables⁽¹⁾	$	1,025	$	—	$	1,147
Liabilities:
Debt⁽²⁾	490		314		200
Non-recourse debt⁽²⁾	694		—		696

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⁽¹⁾	Carrying amount includes allowance for loan loss.


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