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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Net Cash Provided by (Used in) Operating Activities [Abstract]    
Net income $ 73 $ 51
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 51 60
Amortization of deferred financing costs, acquisition premiums and other 7 12
Provision for financing receivables losses 30 31
Impairment expense 0 3
Other gain, net (1) 0
Share-based compensation 10 11
Equity in earnings from unconsolidated affiliates (3) (3)
Net changes in assets and liabilities:    
Accounts receivable, net 8 (107)
Timeshare financing receivables, net (24) (11)
Inventory (101) 26
Purchases and development of real estate for future conversion to inventory (2) (1)
Other assets (244) (264)
Accounts payable, accrued expenses and other 84 290
Advanced deposits 24 14
Deferred revenues 114 158
Net cash provided by operating activities 26 270
Investing Activities    
Capital expenditures for property and equipment (excluding inventory) (5) (8)
Software capitalization costs (6) (6)
Net cash used in investing activities (11) (14)
Financing Activities    
Proceeds from debt 438 0
Proceeds from non-recourse debt 175 155
Repayment of debt (153) (3)
Repayment of non-recourse debt (182) (277)
Repurchase and retirement of common stock (85) 0
Payment of withholding taxes on vesting of restricted stock units (14) (8)
Proceeds from stock option exercises 5 1
Other (1) (1)
Net cash provided by (used in) financing activities 183 (133)
Effect of changes in exchange rates on cash, cash equivalents & restricted cash (1) (1)
Net increase in cash, cash equivalents and restricted cash 197 122
Cash, cash equivalents and restricted cash, beginning of period 555 695
Cash, cash equivalents and restricted cash, end of period 752 817
Less: Restricted cash 363 303
Cash and cash equivalents $ 389 $ 514