CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Activities
Net income	$ 313	$ 352	$ 176
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	213	244	126
Amortization of deferred financing costs, acquisition premiums and other	33	52	39
Provision for financing receivables losses	171	142	121
Impairment expense	3	17	2
Other (gain) loss, net	(2)	3	14
Share-based compensation	40	46	48
Deferred income tax (benefit) expense	(23)	(38)	58
Equity in earnings from unconsolidated affiliates	(12)	(13)	(10)
Return on investment in unconsolidated affiliates	16	0	2
Net changes in assets and liabilities, net of effects of acquisitions:
Accounts receivable, net	10	(177)	(124)
Timeshare financing receivables, net	(315)	(224)	(92)
Inventory	(64)	100	15
Purchases and development of real estate for future conversion to inventory	(39)	(8)	(33)
Other assets	(8)	(34)	48
Accounts payable, accrued expenses and other	(86)	294	(48)
Advanced deposits	29	37	(8)
Deferred revenues	33	(46)	(166)
Net cash provided by operating activities	312	747	168
Investing Activities
Acquisition of a business, net of cash and restricted cash acquired	(74)	0	(1,592)
Capital expenditures for property and equipment (excluding inventory)	(31)	(58)	(18)
Software capitalization costs	(44)	(39)	(21)
Investments in unconsolidated affiliates	(1)	0	0
Other	(8)	0	0
Net cash used in investing activities	(158)	(97)	(1,631)
Financing Activities
Proceeds from debt	758	40	2,950
Proceeds from non-recourse debt	868	769	264
Repayment of debt	(373)	(313)	(1,154)
Repayment of non-recourse debt	(694)	(990)	(359)
Payment of debt issuance costs	(7)	(13)	(70)
Repurchase and retirement of common stock	(368)	(272)	0
Payment of withholding taxes on vesting of restricted stock units	(14)	(8)	(6)
Proceeds from employee stock plan purchases	8	5	1
Proceeds from stock option exercises	9	2	13
Other	(4)	(2)	(3)
Net cash provided by (used in) financing activities	183	(782)	1,636
Effect of changes in exchange rates on cash, cash equivalents and restricted cash	(7)	(8)	(4)
Net increase (decrease) in cash, cash equivalents and restricted cash	330	(140)	169
Cash, cash equivalents and restricted cash, beginning of period	555	695	526
Cash, cash equivalents and restricted cash, end of period	885	555	695
Less: Restricted cash	296	332	263
Cash and cash equivalents	$ 589	$ 223	$ 432