SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

12 Months Ended

Dec. 31, 2023

Supplemental Cash Flow Information [Abstract]

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

Cash paid for interest, net was $187 million, $175 million and $113 million for the years ended December 31, 2023, 2022 and 2021, respectively. Cash paid for income taxes, net of refunds, was $187 million, $141 million and $54 million for the years ended December 31, 2023, 2022 and 2021, respectively.

The following non-cash activities were excluded from the consolidated statements of cash flows:

•In 2023, we recorded non-cash operating activity transfer of $20 million to Property and equipment, net, related to the purchase of units in South Carolina, of which $17 million was accrued within Accounts payable, accrued expenses and other and the remaining $3 million was an inventory deposit in Other Assets.

•In 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 properties in Hawaii.

•In 2022, we recorded non-cash operating activity transfer of $48 million related to certain undeveloped land and infrastructure that was previously recorded within the classification of Land and infrastructure held for sale to Property and equipment, net.

•In 2021, we recorded non-cash issuance of stock of $1,381 million related to our acquisition of Diamond. See Note 3: Acquisitions for additional information.

•In 2021, we recorded non-cash operating activity transfers of $55 million related to the registrations for timeshare units under construction from Property and equipment to Inventory.