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Timeshare Financing Receivables (Tables)

3 Months Ended

Mar. 31, 2018

Receivables [Abstract]

Schedule of financing receivables

Timeshare financing receivables were as follows:

		March 31, 2018
($ in millions)		Securitized and Pledged				Unsecuritized				Total
Timeshare financing receivables		$	429			$	789			$	1,218
Less: allowance for loan loss			(22	)			(122	)			(144	)
		$	407			$	667			$	1,074

		December 31, 2017
($ in millions)		Securitized and Pledged				Unsecuritized				Total
Timeshare financing receivables		$	471			$	741			$	1,212
Less: allowance for loan loss			(27	)			(114	)			(141	)
		$	444			$	627			$	1,071

Schedule of future payments due from financing receivables

Our timeshare financing receivables as of March 31, 2018 mature as follows:

($ in millions)		Securitized and Pledged				Unsecuritized				Total
Year
2018 (remaining)		$	53			$	59			$	112
2019			69				67				136
2020			67				72				139
2021			61				78				139
2022			54				84				138
Thereafter			125				429				554
			429				789				1,218
Less: allowance for loan loss			(22	)			(122	)			(144	)
		$	407			$	667			$	1,074

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)		2018				2017
FICO score
700+		$	790			$	770
600-699			228				225
<600			28				28
No score⁽¹⁾			172				189
		$	1,218			$	1,212

⁽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, 2018
($ in millions)		Securitized and Pledged				Unsecuritized				Total
Current		$	419			$	724			$	1,143
31 - 90 days past due			6				12				18
91 - 120 days past due			2				4				6
121 days and greater past due			2				49				51
		$	429			$	789			$	1,218

		December 31, 2017
($ in millions)		Securitized and Pledged				Unsecuritized				Total
Current		$	462			$	685			$	1,147
31 - 90 days past due			6				10				16
91 - 120 days past due			1				4				5
121 days and greater past due			2				42				44
		$	471			$	741			$	1,212

Schedule of change in allowance for loan loss

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

		March 31, 2018
($ in millions)		Securitized and Pledged				Unsecuritized				Total
Balance as of December 31, 2017		$	27			$	114			$	141
Write-offs			—				(9	)			(9	)
Provision for loan loss⁽¹⁾			(5	)			17				12
Balance as of March 31, 2018		$	22			$	122			$	144

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

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