CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Activities
Net income (loss)	$ 352	$ 176	$ (201)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	244	126	45
Amortization of deferred financing costs, acquisition premiums and other	52	39	18
Provision for financing receivables losses	142	121	75
Impairment expense	17	2	209
Other loss (gain), net	3	14	(1)
Share-based compensation	46	48	15
Deferred income tax (benefit) expense	(38)	58	(123)
Equity in earnings from unconsolidated affiliates	(13)	(10)	(5)
Return on investment in unconsolidated affiliates	0	2	0
Net changes in assets and liabilities, net of effects of acquisition:
Accounts receivable, net	(177)	(124)	56
Timeshare financing receivables, net	(224)	(92)	107
Inventory	100	15	(91)
Purchases and development of real estate for future conversion to inventory	(8)	(33)	(36)
Other assets	(34)	48	(11)
Accounts payable, accrued expenses and other	294	(48)	(56)
Advanced deposits	37	(8)	2
Deferred revenues	(46)	(166)	76
Net cash provided by operating activities	747	168	79
Investing Activities
Acquisition of Diamond, net of cash and restricted cash acquired	0	(1,592)	0
Capital expenditures for property and equipment (excluding inventory)	(58)	(18)	(8)
Software capitalization costs	(39)	(21)	(23)
Investments in unconsolidated affiliates	0	0	(2)
Net cash used in investing activities	(97)	(1,631)	(33)
Financing Activities
Issuance of debt	40	2,950	495
Issuance of non-recourse debt	769	264	495
Repayment of debt	(313)	(1,154)	(165)
Repayment of non-recourse debt	(990)	(359)	(475)
Debt issuance costs	(13)	(70)	(9)
Repurchase and retirement of common stock	(272)	0	(10)
Payment of withholding taxes on vesting of restricted stock units	(8)	(6)	(4)
Proceeds from employee stock plan purchases	5	1	2
Proceeds from stock option exercises	2	13	1
Other	(2)	(3)	(2)
Net cash (used in) provided by financing activities	(782)	1,636	328
Effect of changes in exchange rates on cash, cash equivalents & restricted cash	(8)	(4)	0
Net (decrease) increase in cash, cash equivalents and restricted cash	(140)	169	374
Cash, cash equivalents and restricted cash, beginning of period	695	526	152
Cash, cash equivalents and restricted cash, end of period	555	695	526
Less: Restricted cash	332	263	98
Cash and cash equivalents	$ 223	$ 432	$ 428