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INVENTORY
 12 Months Ended
Dec. 31, 2023
Inventory Disclosure [Abstract]  
INVENTORY INVENTORY
Inventory was comprised of the following:
December 31,
($ in millions)20232022
Completed unsold VOIs$1,259 $1,096 
Construction in process140 62 
Land, infrastructure and other1 1 
Total$1,400 $1,159 
During the year ended December 31, 2023, we acquired inventory associated with a property in New York for $136 million from a third-party developer. Under the purchase agreement, there are no further inventory commitments related to this property.
For the year ended December 31, 2023, we recorded non-cash operating activity transfers of $92 million related to the registrations for timeshare units under construction from Property and equipment, net to Inventory, pertaining to two of our properties in Hawaii. As VOI inventory is constructed it is recorded into Property and equipment, net until such units are registered and made available for sale. Once registered and available for sale, the units are then transferred into completed unsold VOIs inventory. See Note 24: Supplemental Disclosures of Cash Flow Information for information regarding non-cash transfers.
The table below presents costs of sales true-ups relating to VOI products and the related impacts to the carrying value of inventory and cost of VOI sales:
Year Ended December 31,
($ in millions)202320222021
Cost of sales true-up(1)
$61 $23 $(2)
(1)For the years ended December 31, 2023, and December 31, 2022, the costs of sales true-up decreased costs of VOI sales and increased inventory. For the year ended December 31, 2021, the costs of sales true-up increased costs of VOI sales and decreased inventory.