Annual report pursuant to Section 13 and 15(d)

COVID-19 Related Items (Tables)

v3.22.4
COVID-19 Related Items (Tables)
 12 Months Ended
Dec. 31, 2022
Restructuring and Related Activities [Abstract]  
COVID-19 Related Impacts
For the year ended December 31, 2021, the Company’s financial statements included impacts directly related to COVID-19 as detailed in the table below (in millions):
Vacation Ownership Travel and Membership Corporate Consolidated Income Statement Classification
Allowance for loan losses:
Provision $ (91) $ —  $ —  $ (91) Vacation ownership interest sales
Recoveries 33  —  —  33  Cost of vacation ownership interests
Employee compensation related and other 3  —  1  4  COVID-19 related costs
Asset recoveries —  (6) —  (6) Asset impairments/(recoveries), net
Lease-related (1) —  —  (1) Restructuring
Total COVID-19 $ (56) $ (6) $ 1  $ (61)
For the year ended December 31, 2020, the Company’s financial statements included impacts directly related to COVID-19 as detailed in the table below (in millions):
Vacation Ownership Travel and Membership Corporate Consolidated Income Statement Classification
Allowance for loan losses:
Provision $ 205  $ —  $ —  $ 205  Vacation ownership interest sales
Recoveries (48) —  —  (48) Cost of vacation ownership interests
Employee compensation related and other 65  9  14  88  COVID-19 related costs
Asset impairments 21  34  1  56  Asset impairments/(recoveries), net and Operating expenses
Exchange inventory write-off —  48  —  48  Operating expenses
Lease-related 14  22  —  36  Restructuring
Total COVID-19 $ 257  $ 113  $ 15  $ 385 
COVID-19 Related Liabilities The activity associated with these COVID-19 related liabilities is summarized as follows (in millions):
Liability as of 2020 Activity Liability as of
December 31, 2019 Costs Recognized Cash Payments
Other (a)
December 31, 2020
COVID-19 employee-related $ —  $ 71  $ (64) $ (1) $ 6 
Ending balance $ —  $ 71  $ (64) $ (1) $ 6 
Liability as of 2021 Activity Liability as of
December 31, 2020 Costs Recognized Cash Payments Other December 31, 2021
COVID-19 employee-related $ 6  $ 1  $ (6) $ —  $ 1 
Ending balance $ 6  $ 1  $ (6) $ —  $ 1 
Liability as of 2022 Activity Liability as of
December 31, 2021 Costs Recognized Cash Payments Other December 31, 2022
COVID-19 employee-related $ 1  $ 2  $ (3) $ —  $ — 
Ending balance $ 1  $ 2  $ (3) $ —  $ — 
(a)Includes employee-related write-offs.