Debt & Non-recourse Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Outstanding Borrowings

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

	December 31
($ in millions)	2019			2018
Debt(1)
Senior secured credit facilities:
Term loans with an average rate of 3.513%, due 2023	$	187		$	197
Revolver with an average rate of 3.513%, due 2023		320			115
Senior notes with a rate of 6.125%, due 2024		300			300
Other debt		27			—
		834			612
Less: unamortized deferred financing costs and discount(2)(3)		(6	)		(8	)
	$	828		$	604

⁽¹⁾ As of December 31, 2019 and 2018, weighted-average interest rates were 4.571 percent and 5.170 percent, respectively.

^{(2) Amount includes deferred financing costs related to our term loan and senior notes of $1 million and $5 million, respectively as of December 31, 2019 and $2 million and $6 million as of December 31, 2018.}

⁽³⁾ Amount does not include deferred financing costs of $5 and $6 million as of December 31, 2019 and 2018, respectively, relating to our revolving facility included in Other Assets in our consolidated balance sheets.

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

	December 31
($ in millions)	2019			2018
Non-recourse debt(1)
Timeshare Facility with an average rate of 3.164%, due 2021	$	—		$	120
Securitized Debt with a rate of 2.280%, due 2026		—			33
Securitized Debt with an average rate of 1.810%, due 2026		46			74
Securitized Debt with an average rate of 2.711%, due 2028		149			206
Securitized Debt with an average rate of 3.602%, due 2032		275			333
Securitized Debt with an average rate of 2.421%, due 2033		285			—
		755			766
Less: unamortized deferred financing costs(2)		(8	)		(7	)
	$	747		$	759

⁽¹⁾ As of December 31, 2019 and 2018, weighted-average interest rates were 2.876 percent and 3.126 percent, respectively.

⁽²⁾ Amount relates to Securitized Debt only and does not include deferred financing costs of $3 million as of both December 31, 2019 and 2018, relating to our Timeshare Facility included in Other Assets in our consolidated balance sheets.

Schedule of Contractual Maturities of Debt

The contractual maturities of our debt and non-recourse debt as of December 31, 2019 were as follows:

($ in millions)	Debt		Non-recourse Debt		Total
Year
2020	$	12	$	242	$	254
2021		11		166		177
2022		11		113		124
2023		477		109		586
2024		300		42		342
Thereafter		23		83		106
	$	834	$	755	$	1,589