Debt & Non-recourse Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Outstanding Borrowings

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

	December 31
($ in millions)	2020			2019
Debt(1)
Senior secured credit facilities:
Term loans with an average rate of 2.25%, due 2023	$	177		$	187
Revolver with an average rate of 2.25%, due 2023		660			320
Senior notes with a rate of 6.125%, due 2024		300			300
Other debt		27			27
		1,164			834
Less: unamortized deferred financing costs and discount(2)(3)		(5	)		(6	)
	$	1,159		$	828

⁽¹⁾ As of December 31, 2020 and 2019, weighted-average interest rates were 3.357 percent and 4.571 percent, respectively.

^{(2) Amount includes deferred financing costs related to our term loan and senior notes of $1 million and $4 million, respectively as of December 31, 2020 and $1 million and $5 million, respectively as of December 31, 2019.}

⁽³⁾ Amount does not include deferred financing costs of $4 and $5 million as of December 31, 2020 and 2019, 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)	2020			2019
Non-recourse debt(1)
Securitized Debt with an average rate of 1.810%, due 2026	$	—		$	46
Securitized Debt with an average rate of 2.711%, due 2028		106			149
Securitized Debt with an average rate of 3.602%, due 2032		202			275
Securitized Debt with an average rate of 2.421%, due 2033		216			285
Securitized Debt with an average rate of 3.658%, due 2039		251			—
		775			755
Less: unamortized deferred financing costs(2)		(9	)		(8	)
	$	766		$	747

⁽¹⁾ As of December 31, 2020 and 2019, weighted-average interest rates were 3.173 percent and 2.876 percent, respectively.

⁽²⁾ Amount relates to Securitized Debt only and does not include deferred financing costs of $3 million as of December 31, 2020 and 2019, respectively, 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, 2020 were as follows:

($ in millions)	Debt		Non-recourse Debt		Total
Year
2021	$	12	$	283	$	295
2022		11		132		143
2023		818		129		947
2024		300		66		366
2025		—		108		108
Thereafter		23		57		80
	$	1,164	$	775	$	1,939