Condensed Consolidating Guarantor Financial Information (Tables)

12 Months Ended

Dec. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Schedule of Condensed Consolidating Guarantor Balance Sheets

The following schedules present the condensed consolidating financial information as of December 31, 2019 and 2018 and for the years ended December 31, 2019, 2018 and 2017, for the Parent, Subsidiary Issuers, Guarantors and Non-Guarantors.

	December 31, 2019
($ in millions)	Parent		Issuers		Guarantors		Non- Guarantors		Eliminations			Total
ASSETS
Cash and cash equivalents	$	2	$	—	$	33	$	32	$	—		$	67
Restricted cash		—		—		59		26		—			85
Accounts receivable, net		—		—		192		52		(70	)		174
Timeshare financing receivables, net		—		—		449		707		—			1,156
Inventory		—		—		524		34		—			558
Property and equipment, net		—		—		718		60		—			778
Operating lease right-of-use assets, net		—		—		58		2		—			60
Investments in unconsolidated affiliates		—		—		44		—		—			44
Intangible assets, net		—		—		89		—		—			89
Other assets		—		5		52		11		—			68
Investments in subsidiaries		568		1,364		136		—		(2,068	)		—
TOTAL ASSETS	$	570	$	1,369	$	2,354	$	924	$	(2,138	)	$	3,079
LIABILITIES AND EQUITY
Accounts payable, accrued    expenses and other	$	—	$	—	$	329	$	39	$	(70	)	$	298
Advance deposits		—		—		115		—		—			115
Debt, net		—		801		27		—		—			828
Non-recourse debt, net		—		—		—		747		—			747
Operating lease liabilities		—		—		74		2		—			76
Deferred revenues		—		—		186		—		—			186
Deferred income tax liabilities		—		—		259		—		—			259
Total equity		570		568		1,364		136		(2,068	)		570
TOTAL LIABILITIES AND EQUITY	$	570	$	1,369	$	2,354	$	924	$	(2,138	)	$	3,079

	December 31, 2018
($ in millions)	Parent		Issuers		Guarantors		Non- Guarantors		Eliminations			Total
ASSETS
Cash and cash equivalents	$	4	$	—	$	89	$	15	$	—		$	108
Restricted cash		—		—		45		27		—			72
Accounts receivable, net		—		—		157		17		(21	)		153
Timeshare financing receivables, net		—		—		209		911		—			1,120
Inventory		—		—		502		25		—			527
Property and equipment, net		—		—		553		6		—			559
Investment in unconsolidated affiliate		—		—		38		—		—			38
Intangible assets, net		—		—		81		—		—			81
Other assets		—		6		41		48		—			95
Investments in subsidiaries		612		1,210		277		—		(2,099	)		—
TOTAL ASSETS	$	616	$	1,216	$	1,992	$	1,049	$	(2,120	)	$	2,753
LIABILITIES AND EQUITY
Accounts payable, accrued    expenses and other	$	—	$	—	$	332	$	13	$	(21	)	$	324
Advance deposits		—		—		101		—		—			101
Debt, net		—		604		—		—		—			604
Non-recourse debt, net		—		—		—		759		—			759
Deferred revenues		—		—		95		—		—			95
Deferred income tax liabilities		—		—		254		—		—			254
Total equity		616		612		1,210		277		(2,099	)		616
TOTAL LIABILITIES AND EQUITY	$	616	$	1,216	$	1,992	$	1,049	$	(2,120	)	$	2,753

Schedule of Condensed Consolidating Guarantor Statements of Operations

	For the Year Ended December 31, 2019
($ in millions)	Parent			Issuers			Guarantors			Non- Guarantors			Eliminations			Total
Revenues
Sales of VOIs, net	$	—		$	—		$	409		$	100		$	—		$	509
Sales, marketing, brand and other fees		—			—			632			7			(66	)		573
Financing		—			—			77			101			(8	)		170
Resort and club management		—			—			190			1			—			191
Rental and ancillary services		—			—			224			3			—			227
Cost reimbursements		—			—			164			4			—			168
Total revenues		—			—			1,696			216			(74	)		1,838
Expenses
Cost of VOI sales		—			—			107			20			—			127
Sales and marketing		—			—			719			66			(66	)		719
Financing		—			—			19			42			(8	)		53
Resort and club management		—			—			46			—			—			46
Rental and ancillary services		—			—			142			5			—			147
General and administrative		—			—			111			—			—			111
Depreciation and amortization		—			—			50			1			—			51
License fee expense		—			—			100			1			—			101
Cost reimbursements		—			—			164			4			—			168
Total operating expenses		—			—			1,458			139			(74	)		1,523
Interest expense		—			(43	)		—			—			—			(43	)
Dividends from subsidiary		281			281			—			—			(562	)		—
Equity in earnings from unconsolidated    affiliates		—			—			4			—			—			4
Other loss, net		—			—			(3	)		—			—			(3	)
Income before income taxes		281			238			239			77			(562	)		273
Income tax expense		—			—			(56	)		(1	)		—			(57	)
Income before equity in earnings    from subsidiaries		281			238			183			76			(562	)		216
Equity in (losses) earnings from    subsidiaries		(65	)		259			77			—			(271	)		—
Net income	$	216		$	497		$	260		$	76		$	(833	)	$	216

	For the Year Ended December 31, 2018
($ in millions)	Parent		Issuers			Guarantors			Non- Guarantors		Eliminations			Total
Revenues
Sales of VOIs, net	$	—	$	—		$	716		$	18	$	—		$	734
Sales, marketing, brand and other fees		—		—			578			4		(12	)		570
Financing		—		—			70			95		(7	)		158
Resort and club management		—		—			172			—		—			172
Rental and ancillary services		—		—			216			2		—			218
Cost reimbursements		—		—			143			4		—			147
Total revenues		—		—			1,895			123		(19	)		1,999
Expenses
Cost of VOI sales		—		—			208			2		—			210
Sales and marketing		—		—			725			15		(12	)		728
Financing		—		—			19			37		(7	)		49
Resort and club management		—		—			47			—		—			47
Rental and ancillary services		—		—			130			3		—			133
General and administrative		—		—			116			1		—			117
Depreciation and amortization		—		—			36			—		—			36
License fee expense		—		—			98			—		—			98
Cost reimbursements		—		—			143			4		—			147
Total operating expenses		—		—			1,522			62		(19	)		1,565
Interest expense		—		(30	)		—			—		—			(30	)
Other loss, net		—		—			(1	)		—		—			(1	)
Income (loss) before income taxes		—		(30	)		372			61		—			403
Income tax expense		—		—			(105	)		—		—			(105	)
Income (loss) before equity in earnings    (loss) from subsidiaries		—		(30	)		267			61		—			298
Equity in earnings from subsidiaries		298		328			61			—		(687	)		—
Net income	$	298	$	298		$	328		$	61	$	(687	)	$	298

	For the Year Ended December 31, 2017
($ in millions)	Parent		Issuers			Guarantors		Non- Guarantors			Eliminations			Total
Revenues
Sales of VOIs, net	$	—	$	—		$	518	$	30		$	—		$	548
Sales, marketing, brand and other fees		—		—			545		3			(4	)		544
Financing		—		—			71		83			(7	)		147
Resort and club management		—		—			156		2			—			158
Rental and ancillary services		—		—			177		2			—			179
Cost reimbursements		—		—			131		4			—			135
Total revenues		—		—			1,598		124			(11	)		1,711
Expenses
Cost of VOI sales		—		—			145		3			—			148
Sales and marketing		—		—			650		17			(4	)		663
Financing		—		—			19		31			(7	)		43
Resort and club management		—		—			41		2			—			43
Rental and ancillary services		—		—			120		2			—			122
General and administrative		—		—			101		3			—			104
Depreciation and amortization		—		—			29		—			—			29
License fee expense		—		—			87		—			—			87
Cost reimbursements		—		—			131		4			—			135
Total operating expenses		—		—			1,323		62			(11	)		1,374
Interest expense		—		(27	)		—		—			—			(27	)
Equity in earnings from unconsolidated    affiliate		—		—			1		—			—			1
Income (loss) before income taxes		—		(27	)		276		62			—			311
Income tax benefit (expense)		—		—			18		(2	)		—			16
Income (loss) before equity in earnings    (loss) from subsidiaries		—		(27	)		294		60			—			327
Equity in earnings from subsidiaries		327		354			60		—			(741	)		—
Net income	$	327	$	327		$	354	$	60		$	(741	)	$	327

Schedule of Condensed Consolidating Guarantor Statements of Cash Flows

	For the Year Ended December 31, 2019
($ in millions)	Parent			Issuers			Guarantors			Non- Guarantors			Eliminations			Total
Operating Activities
Net cash provided by (used in) operating    activities	$	216		$	498		$	(7	)	$	253		$	(815	)	$	145
Investing Activities
Capital expenditures for property and    equipment		—			—			(33	)		(4	)		—			(37	)
Software capitalization costs		—			—			(26	)		—			—			(26	)
Investments in unconsolidated affiliates		—			—			(2	)		—			—			(2	)
Dividends from subsidiary		281			281			—			—			(562	)		—
Net cash provided by (used in) investing    activities		281			281			(61	)		(4	)		(562	)		(65	)
Financing Activities
Issuance of debt		—			485			—			—			—			485
Issuance of non-recourse debt		—			—			—			365			—			365
Repayment of debt		—			(290	)		—			—			—			(290	)
Repayment of non-recourse debt		—			—			—			(376	)		—			(376	)
Debt issuance costs		—			—			—			(6	)		—			(6	)
Repurchase and retirement of common    stock		(283	)		—			—			—			—			(283	)
Payment of withholding taxes on vesting    of restricted stock units		(4	)		—			—			—			—			(4	)
Proceeds from employee stock plan    purchases		3			—			—			—			—			3
Other financing activity		—			—			(2	)		—			—			(2	)
Intercompany transfers		(215	)		(974	)		28			(216	)		1,377			—
Net cash (used in) provided by financing    activities		(499	)		(779	)		26			(233	)		1,377			(108	)
Net (decrease) increase in cash, cash    equivalents and restricted cash		(2	)		—			(42	)		16			—			(28	)
Cash, cash equivalents and restricted cash,    beginning of period		4			—			134			42			—			180
Cash, cash equivalents and restricted cash,    end of period	$	2		$	—		$	92		$	58		$	—		$	152

	For the Year Ended December 31, 2018
($ in millions)	Parent		Issuers			Guarantors			Non- Guarantors			Eliminations			Total
Operating Activities
Net cash (used in) provided by operating    activities	$	—	$	(28	)	$	163		$	(291	)	$	(3	)	$	(159	)
Investing Activities
Capital expenditures for property and    equipment		—		—			(37	)		(7	)		—			(44	)
Software capitalization costs		—		—			(19	)		—			—			(19	)
Return of investment from unconsolidated    affiliates		—		—			11			—			—			11
Investment in unconsolidated affiliates		—		—			(10	)		—			—			(10	)
Net cash used in investing activities		—		—			(55	)		(7	)		—			(62	)
Financing Activities
Issuance of debt		—		530			—			—			—			530
Issuance of non-recourse debt		—		—			—			663			—			663
Repayment of debt		—		(408	)		—			—			—			(408	)
Repayment of non-recourse debt		—		—			—			(485	)		—			(485	)
Debt issuance costs		—		(7	)		—			(5	)		—			(12	)
Repurchase and retirement of common    stock		—		(183	)		—			—			—			(183	)
Payment of withholding taxes on vesting    of restricted stock units		—		(4	)		—			—			—			(4	)
Capital contribution		—		3			—			—			—			3
Intercompany transfers		4		97			(233	)		129			3			—
Net cash provided by (used in) financing    activities		4		28			(233	)		302			3			104
Net increase (decrease) in cash, cash    equivalents and restricted cash		4		—			(125	)		4			—			(117	)
Cash, cash equivalents and restricted cash,    beginning of period		—		—		259				38			—			297
Cash, cash equivalents and restricted cash,    end of period	$	4	$	—		$	134		$	42		$	—		$	180

	For the Year Ended December 31, 2017
($ in millions)	Parent		Issuers			Guarantors			Non- Guarantors			Eliminations			Total
Operating Activities
Net cash (used in) provided by operating    activities	$	—	$	(27	)	$	156		$	235		$	(8	)	$	356
Investing Activities
Capital expenditures for property and    equipment		—		—			(33	)		(2	)		—			(35	)
Software capitalization costs		—		—			(12	)		—			—			(12	)
Investment in unconsolidated affiliate		—		—			(40	)		—			—			(40	)
Net cash used in investing activities		—		—			(85	)		(2	)		—			(87	)
Financing Activities
Issuance of non-recourse debt		—		—			—			350			—			350
Repayment of debt		—		(10	)		—			—			—			(10	)
Repayment of non-recourse debt		—		—			—			(459	)		—			(459	)
Debt issuance costs		—		—			—			(5	)		—			(5	)
Proceeds from stock option exercises		—		—			1			—			—			1
Intercompany transfers		—		37			59			(104	)		8			—
Net cash provided by (used in) financing    activities		—		27			60			(218	)		8			(123	)
Net increase in cash, cash equivalents and    restricted cash		—		—			131			15			—			146
Cash, cash equivalents and restricted cash,    beginning of period		—		—			128			23			—			151
Cash, cash equivalents and restricted cash,    end of period	$	—	$	—		$	259		$	38		$	—		$	297