ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Fair Value of Consideration Transferred

The following table presents the fair value of each class of consideration transferred in relation to the Diamond Acquisition at the Diamond Acquisition Date:

($ in millions, except stock price amounts)
HGV common stock shares issued for outstanding Diamond shares	33.93
HGV common stock price as of Diamond Acquisition Date(1)	40.71
Stock purchase price	$	1,381
Repayment of Legacy-Diamond debt	$	2,029
Total consideration transferred	$	3,410

(1)Represents the average of the opening and closing price of HGV stock on August 2, 2021.

Schedule of Fair Values of Assets Acquired and Liabilities Assumed

The following table presents the fair values of the assets that we acquired and the liabilities that we assumed, as finalized:

($ in millions)	August 2, 2021 (as finalized)
Assets acquired
Cash and cash equivalents	$	310
Restricted cash	127
Accounts receivable, net of allowance for doubtful accounts	90
Timeshare financing receivables, net	825
Inventory	488
Property and equipment, net	273
Operating lease right-of-use assets, net	33
Intangible assets, net	1,429
Other assets	261
Total assets acquired	$	3,836
Liabilities assumed
Accounts payable, accrued expenses and other	$	520
Non-recourse debt, net	660
Operating lease liabilities	33
Advanced deposits	4
Deferred revenues	140
Deferred income tax liabilities	485
Total liabilities assumed	$	1,842
Net assets acquired	$	1,994
Total consideration transferred	$	3,410
Goodwill(1)	$	1,416

(1)Goodwill is calculated as total consideration transferred less net assets acquired and it primarily represents the value that we expect to obtain from synergies and growth opportunities from our combined Company post-acquisition. The majority of goodwill is not expected to be deductible for tax purposes.

Schedule of Financing Receivables

Acquired timeshare financing receivables with credit deterioration as of the Diamond Acquisition Date were as follows:

($ in millions)	As of August 2, 2021
Purchase price	$	825
Allowance for credit losses	512
Premium attributable to other factors	(97)
Par value	$	1,240

The following table presents the acquired assets with credit deterioration as of the Grand Islander Acquisition Date:

($ in millions)	As of December 1, 2023
Purchase price	$	251
Allowance for credit losses	30
Premium attributable to other factors	(6)
Par value	$	275

Schedule of Estimates Of The Fair Value of Intangible Assets and Estimated Remaining Useful Lives

The following table presents our fair values of the acquired identified intangible assets and their related remaining useful lives.

	Estimated Fair Value ($ in millions)		Estimated Useful Life (in years)
Trade name	$	18	1.5
Management contracts	1,251		35.4
Club member relationships	139		14.4
Computer software	21		1.5
Total intangible assets	$	1,429

Schedule of Goodwill

We have allocated the acquired goodwill to our segments, Real Estate Sales and Financing and Resort Operations and Club Management, as indicated in the table below.

	Real Estate Sales and Financing Segment		Resort Operations and Club Management Segment		Total Consolidated
Goodwill	$	1,048	$	368	$	1,416

Schedule of Acquisition Pro Forma Information

The following unaudited pro forma information presents the combined results of operations of HGV and Diamond as if we had completed the Diamond Acquisition on January 1, 2020, the first day of our 2020 fiscal year, but using our fair values of assets acquired and liabilities assumed as of the Diamond Acquisition Date. These unaudited pro forma results do not reflect any synergies from operating efficiencies. Accordingly, these unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operations of the combined company would have been if the Diamond Acquisition had occurred at the beginning of the period presented, nor are they indicative of future results of operations.

	Year Ended December 31,
($ in millions)	2021
Revenue	$	3,068
Net income (loss)	337

Summary of Results of Operations

The following table presents the results of Diamond operations included in our statement of operations for the period from the Diamond Acquisition Date through the end of 2021:

($ in millions)	August 2, 2021 to December 31, 2021
Revenue	$	633
Net income	92