XML 40 R29.htm IDEA: XBRL DOCUMENT

Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2019

Revenue From Contract With Customer [Abstract]

Schedule of Disaggregated Revenues by Segment from Contracts with Customers

The following tables show our disaggregated revenues by segment from contracts with customers. We operate our business in the following two segments: (i) Real estate sales and financing and (ii) Resort operations and club management. Please refer to Note 18: Business Segments below for more details related to our segments.

	Three Months Ended March 31,
($ in millions)	2019		2018
Real Estate and Financing Segment
Sales of VOIs, net	$	125	$	78
Sales, marketing, brand and other fees		141		125
Interest income		36		34
Other financing revenue		5		4
Real estate and financing segment revenues	$	307	$	241

	Three Months Ended March 31,
($ in millions)	2019		2018
Resort Operations and Club Management Segment
Club management	$	26	$	23
Resort management		16		16
Rental ⁽¹⁾		52		53
Ancillary services		7		6
Resort operations and club management segment revenues	$	101	$	98

⁽¹⁾	^{Includes intersegment eliminations. See Note 18: Business Segments for additional information.}

Schedule of Accounts Receivable and Contract Asset from Contracts with Customers and Composition of Contract Liabilities

The following table provides information on our accounts receivable and contract asset from contracts with customers which are included in Accounts receivable, net on our condensed consolidated balance sheets:

($ in millions)	March 31, 2019		December 31, 2018
Receivables	$	122	$	122
Contract asset		2		—

The following table presents the composition of our contract liabilities.


($ in millions)	March 31, 2019		December 31, 2018
Contract liabilities:
Advanced deposits	$	106	$	101
Deferred revenues⁽¹⁾		116		72
Club Bonus Point incentive liability⁽²⁾		57		56

⁽¹⁾	^{The deferred revenues balance is primarily comprised of (i) Club activation fees that are paid at the closing of a VOI purchase, which grants access to our points-based Club and (ii) annual dues for Club membership renewals.}

⁽²⁾

Amounts related to the Club Bonus Point incentive liability are included in Accounts payable, accrued expenses and other on our condensed consolidated balance sheets. This liability is comprised of revenue for incentives from VOI sales and sales and marketing expenses in conjunction with our fee-for-service arrangements.

Schedule of Remaining Transaction Price Related to Advanced Deposits Club Activation Fees and Club Bonus Points

The following table includes the remaining transaction price related to Advanced deposits, Club activation fees and Club Bonus Points as of March 31, 2019:

($ in millions)	Remaining Transaction Price		Recognition Period	Recognition Method
Advanced deposits	$	106	18 months	Upon customer stays
Club activation fees		64	7 years	Straight-line basis over average inventory holding period
Club Bonus Points		57	24 months	Upon redemption