Other Liabilities

6 Months Ended

Jun. 30, 2013

Other Liabilities Disclosure [Abstract]

Other Liabilities

Note 10. Other Liabilities

Other liabilities consisted of the following (in millions):

	June 30, 2013		December 31, 2012
Deferred gains on asset sales	$	904	$	944
SPG point liability		722		733
Deferred revenue including VOIs and residential sales		33		33
Benefit plan liabilities		72		78
Deferred rent		49		51
Insurance reserves		44		45
Other		75		72
	$	1,899	$	1,956

We defer gains realized in connection with the sales of properties that we continue to manage through long-term management agreements and recognize the gains over the initial terms of the related agreements. As of June 30, 2013 and December 31, 2012, we had total deferred gains of approximately $990 million and $1.0 billion, respectively, included in accrued expenses and other liabilities in our consolidated balance sheets. Amortization of deferred gains is included in management fees, franchise fees and other income in our consolidated statements of income and totaled approximately $22 million and $45 million in the three and six months ended June 30, 2013, respectively, compared to $22 million and $43 million in the three and six months ended June 30, 2012, respectively.