v3.26.1
Restructuring (Tables)
 3 Months Ended
Mar. 31, 2026
Restructuring Charges [Abstract]  
Activity Related To The Restructuring Costs
The Company’s financial statements included the following impacts related to the resort optimization initiative (in millions):
Three Months Ended March 31, 2026
Income Statement Classification
Inventory write-downs$11 Cost of vacation ownership interests
Inventory impairments8 Cost of vacation ownership interests
Resort closure costs3 Operating
Severance and related benefits(2)Restructuring
Other employee related costs2 Operating
Total resort optimization initiative costs$22 
The table below summarizes the activity associated with the Company’s aforementioned restructuring plans (in millions):
Liability as ofLiability as of
December 31, 2025Costs RecognizedCash PaymentsOther March 31,
2026
Personnel-related$14 $(2)$(8)$2 
(a)
$6 
Facility-related12 — — — 12 
Other2 — (2)— — 
$28 $(2)$(10)$2 $18 
(a)Represents reimbursable costs the Company will pay on behalf of the respective HOAs related to the resort optimization initiative.