INTERIM CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and cash equivalents	$ 211	$ 406
Restricted cash (including $87 and $81 from VIEs, respectively)	302	327
Accounts and contracts receivable, net (including $17 and $15 from VIEs, respectively)	428	428
Vacation ownership notes receivable, net (including $2,082 and $1,900 from VIEs, respectively)	2,587	2,565
Inventory	673	692
Property and equipment, net	940	950
Goodwill	2,958	2,958
Intangibles, net	681	711
Other (including $188 and $168 from VIEs, respectively)	699	720
TOTAL ASSETS	9,479	9,757
LIABILITIES AND EQUITY
Accounts payable	227	358
Advance deposits	166	163
Accrued liabilities (including $4 and $4 from VIEs, respectively)	372	376
Deferred revenue and other	416	371
Payroll and benefits liability	215	218
Deferred compensation liability	240	225
Securitized debt, net (including $2,381 and $2,173 from VIEs, respectively)	2,353	2,146
Debt, net	3,100	3,534
Other	119	142
Deferred taxes	214	231
TOTAL LIABILITIES	7,422	7,764
Contingencies and Commitments (Note 10)
Preferred stock — $0.01 par value; 2,000,000 shares authorized; none issued or outstanding	0	0
Common stock — $0.01 par value; 100,000,000 shares authorized; 75,919,908 and 75,891,531 shares issued, respectively	1	1
Treasury stock — at cost; 41,525,622 and 41,767,498 shares, respectively	(2,413)	(2,427)
Additional paid-in capital	4,001	3,996
Accumulated other comprehensive loss	(10)	(11)
Retained earnings	478	434
TOTAL MVW STOCKHOLDERS' EQUITY	2,057	1,993
Noncontrolling interests	0	0
TOTAL EQUITY	2,057	1,993
TOTAL LIABILITIES AND EQUITY	$ 9,479	$ 9,757

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business.

Name:	us-gaap_AccountsPayableCurrentAndNoncurrent
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities.