CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating Activities
Net income	$ 245	$ 274
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	156	181
Amortization of deferred financing costs, acquisition premiums and other	22	34
Provision for financing receivables losses	117	103
Impairment expense	3	0
Other (gain) loss, net	(3)	1
Share-based compensation	38	40
Deferred income tax benefit	0	(1)
Equity in earnings from unconsolidated affiliates	(7)	(9)
Cash distribution received from investment	6	0
Net changes in assets and liabilities:
Accounts receivable, net	70	(64)
Timeshare financing receivables, net	(210)	(141)
Inventory	(37)	101
Purchases and development of real estate for future conversion to inventory	(28)	(4)
Other assets	(67)	(21)
Accounts payable, accrued expenses and other	(75)	257
Advanced deposits	35	25
Deferred revenues	47	(13)
Net cash provided by operating activities	312	763
Investing Activities
Capital expenditures for property and equipment (excluding inventory)	(18)	(25)
Software capitalization costs	(29)	(26)
Net cash used in investing activities	(47)	(51)
Financing Activities
Proceeds from debt	438	0
Proceeds from non-recourse debt	468	671
Repayment of debt	(370)	(310)
Repayment of non-recourse debt	(528)	(824)
Payment of debt issuance costs	(6)	(12)
Repurchase and retirement of common stock	(268)	(162)
Payment of withholding taxes on vesting of restricted stock units	(14)	(8)
Proceeds from employee stock plan purchases	4	2
Proceeds from stock option exercises	9	1
Other	(3)	(2)
Net cash used in financing activities	(270)	(644)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash	(15)	(19)
Net (decrease) increase in cash, cash equivalents and restricted cash	(20)	49
Cash, cash equivalents and restricted cash, beginning of period	555	695
Cash, cash equivalents and restricted cash, end of period	535	744
Less: Restricted cash	308	319
Cash and cash equivalents	$ 227	$ 425