Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 85	$ 246
Restricted cash	69	51
Accounts receivable, net of allowance for doubtful accounts of $6 and $9	117	112
Timeshare financing receivables, net	1,074	1,071
Inventory	564	509
Property and equipment, net	235	238
Investment in unconsolidated affiliates	37	41
Intangible assets, net	73	72
Other assets	111	44
TOTAL ASSETS (variable interest entities - $432 and $471)	2,365	2,384
Liabilities:
Accounts payable, accrued expenses and other	296	339
Advanced deposits	92	104
Debt, net	479	482
Non-recourse debt, net	544	583
Deferred revenues	326	109
Deferred income tax liabilities	228	249
Total liabilities (variable interest entities - $416 and $455)	1,965	1,866
Commitments and contingencies - see Note 18
Equity:
Preferred stock, $0.01 par value; 300,000,000 authorized shares, none issued or outstanding as of March 31, 2018 and December 31, 2017	0	0
Common stock, $0.01 par value; 3,000,000,000 authorized shares, 96,821,553 issued and outstanding as of March 31, 2018 and 99,136,304 issued and outstanding as of December 31, 2017	1	1
Additional paid-in capital	161	162
Accumulated retained earnings	238	355
Total equity	400	518
TOTAL LIABILITIES AND EQUITY	$ 2,365	$ 2,384