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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Carrying and Estimated Fair Value Amounts

The carrying amounts and estimated fair values of our financial assets and liabilities were as follows:

	March 31, 2021
			Hierarchy Level
($ in millions)	Carrying Amount		Level 1		Level 3
Assets:
Timeshare financing receivables, net⁽¹⁾	$	940	$	—	$	1,209
Liabilities:
Debt, net⁽²⁾		1,156		314		872
Non-recourse debt, net⁽²⁾		698		—		657

⁽¹⁾	Carrying amount net of allowance for financing receivables losses.

⁽²⁾	Carrying amount net of unamortized deferred financing costs and discount.

	December 31, 2020
			Hierarchy Level
($ in millions)	Carrying Amount		Level 1		Level 3
Assets:
Timeshare financing receivables, net⁽¹⁾	$	974	$	—	$	1,248
Liabilities:
Debt, net⁽²⁾		1,159		315		871
Non-recourse debt, net⁽²⁾		766		—		732

⁽¹⁾	Carrying amount net of allowance for financing receivables losses.

⁽²⁾	Carrying amount net of unamortized deferred financing costs and discount.

Schedule of Land and Infrastructure Held for sale and Property and Equipment

As of March 31, 2021 and December 31, 2020, the estimated fair value of these assets were as follows and their carrying values were reflected in Land and infrastructure held for sale in our condensed consolidated balance sheets.

	Hierarchy Level
($ in millions)	Level 2		Level 3
Land held for sale	$	47	$	—
Infrastructure held for sale		—		5