Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 113	$ 108
Restricted cash	98	72
Accounts receivable, net of allowance for doubtful accounts of $19 and $14	137	153
Timeshare financing receivables, net	1,139	1,120
Inventory	518	527
Property and equipment, net	765	559
Operating lease right-of-use assets, net	62
Investments in unconsolidated affiliates	44	38
Intangible assets, net	87	81
Other assets	75	95
TOTAL ASSETS (variable interest entities - $799 and $647)	3,038	2,753
Liabilities:
Accounts payable, accrued expenses and other	343	324
Advanced deposits	112	101
Debt, net	815	604
Non-recourse debt, net	795	759
Operating lease liabilities	78
Deferred revenues	165	95
Deferred income tax liabilities	236	254
Total liabilities (variable interest entities - $798 and $640)	2,544	2,137
Commitments and contingencies - see Note 19
Equity:
Preferred stock, $0.01 par value; 300,000,000 authorized shares, none issued or outstanding as of September 30, 2019 and December 31, 2018
Common stock, $0.01 par value; 3,000,000,000 authorized shares, 85,469,804 issued and outstanding as of September 30, 2019 and 94,558,086 issued and outstanding as of December 31, 2018	1	1
Additional paid-in capital	174	174
Accumulated retained earnings	319	441
Total equity	494	616
TOTAL LIABILITIES AND EQUITY	$ 3,038	$ 2,753