Debt & Non-recourse debt (Tables)

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Schedule of Outstanding Borrowings

The following table details our outstanding debt balance and its associated interest rates:

	September 30,			December 31,
($ in millions)	2017			2016
Debt(1)
Senior secured credit facilities:
Term loan with an average rate of 3.48%, due 2021	$	193		$	200
Senior notes with a rate of 6.125%, due 2024		300			300
		493			500
Less: unamortized deferred financing costs and discount(2)(3)		(9	)		(10	)
	$	484		$	490

⁽¹⁾ For the nine months ended September 30, 2017 and year ended December 31, 2016, weighted average interest rates were 5.092 percent and 4.851 percent, respectively.

⁽²⁾ Amount includes deferred financing costs of $2 million and $7 million as of September 30, 2017 and $2 million and $8 million as of December 31, 2016, relating to our term loan and senior notes, respectively.

⁽³⁾ Amount does not include deferred financing costs of $2 million as of September 30, 2017 and December 31, 2016, relating to our revolving facility included in Other Assets in our condensed consolidated balance sheets.

The following table details our outstanding non-recourse debt balance and its associated interest rates:

	September 30,			December 31,
($ in millions)	2017			2016
Non-recourse debt(1)
Timeshare Facility with an average rate of 2.54%, due 2019	$	129		$	450
Securitized Debt with an average rate of 2.43%, due 2028		489			246
		618			696
Less: unamortized deferred financing costs(2)		(6	)		(2	)
	$	612		$	694

⁽¹⁾ For the nine months ended September 30, 2017 and year ended December 31, 2016, weighted average interest rates were 2.453 percent and 1.946 percent, respectively.

⁽²⁾ Amount relates to Securitized Debt only and does not include deferred financing costs of $2 million as of September 30, 2017 and $3 million as of December 31, 2016, relating to our Timeshare Facility included in Other Assets in our condensed consolidated balance sheets.

Schedule of contractual maturities of debt

The contractual maturities of our debt and non-recourse debt as of September 30, 2017 were as follows:

($ in millions)	Debt		Non-recourse Debt		Total
Year
2017 (remaining)	$	3	$	30	$	33
2018		10		134		144
2019		10		228		238
2020		10		120		130
2021		160		32		192
Thereafter		300		74		374
	$	493	$	618	$	1,111