Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents	$ 669	$ 67
Restricted cash	90	85
Accounts receivable, net of allowance for credit losses of $17 and $21	158	174
Timeshare financing receivables, net	1,122	1,156
Inventory	885	558
Property and equipment, net	473	778
Operating lease right-of-use assets, net	62	60
Investments in unconsolidated affiliates	47	44
Intangible assets, net	78	77
Other assets	120	80
TOTAL ASSETS (variable interest entities - $694 and $748)	3,704	3,079
Liabilities:
Accounts payable, accrued expenses and other	268	298
Advanced deposits	117	115
Debt, net	1,266	828
Non-recourse debt, net	885	747
Operating lease liabilities	77	76
Deferred revenues	277	186
Deferred income tax liabilities	251	259
Total liabilities (variable interest entities - $694 and $750)	3,141	2,509
Commitments and contingencies - see Note 19
Equity:
Preferred stock, $0.01 par value; 300,000,000 authorized shares, none issued or outstanding as of March 31, 2020 and December 31, 2019
Common stock, $0.01 par value; 3,000,000,000 authorized shares, 84,987,241 shares issued and outstanding as of March 31, 2020 and 85,535,501 shares issued and outstanding as of December 31, 2019	1	1
Additional paid-in capital	172	179
Accumulated retained earnings	390	390
Total equity	563	570
TOTAL LIABILITIES AND EQUITY	$ 3,704	$ 3,079