v3.23.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Assets    
Cash and cash equivalents $ 196 $ 550
Restricted cash (VIE - $81 as of 2023 and $83 as of 2022) 138 138
Trade receivables, net 157 160
Vacation ownership contract receivables, net (VIE - $2,207 as of 2023 and $2,164 as of 2022) 2,379 2,370
Inventory 1,158 1,193
Prepaid expenses 253 202
Property and equipment, net 670 658
Goodwill 961 955
Other intangibles, net 207 207
Other assets 358 324
Total assets 6,477 6,757
Liabilities and (deficit)    
Accounts payable 61 65
Accrued expenses and other liabilities 808 876
Deferred income 417 399
Non-recourse vacation ownership debt (VIE) 1,971 1,973
Debt 3,483 3,669
Deferred income taxes 712 679
Total liabilities 7,452 7,661
Commitments and contingencies (Note 16)
Stockholders' (deficit):    
Preferred stock, $0.01 par value, authorized 6,000,000 shares, none issued and outstanding 0 0
Common stock, $0.01 par value, 600,000,000 shares authorized, 223,253,409 issued as of 2023 and 222,895,523 as of 2022 2 2
Treasury stock, at cost – 147,032,861 shares as of 2023 and 144,499,361 shares as of 2022 (6,988) (6,886)
Additional paid-in capital 4,247 4,242
Retained earnings 1,836 1,808
Accumulated other comprehensive loss (81) (79)
Total stockholders’ (deficit) (984) (913)
Noncontrolling interest 9 9
Total (deficit) (975) (904)
Total liabilities and (deficit) $ 6,477 $ 6,757

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