v3.26.3
Vacation Ownership Contract Receivables (Tables)
 9 Months Ended
Sep. 30, 2026
Contracts Receivable [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] Vacation ownership contract receivables, net consisted of the following (in millions):
September 30, 2026December 31, 2025
Vacation ownership contract receivables:
Securitized (a)
$2,171 $2,281 
Non-securitized (b)
1,263 1,020 
Vacation ownership contract receivables, gross3,434 3,301 
Unamortized non-credit acquisition (premium)(1)— 
Less: allowance for loan losses748 663 
Vacation ownership contract receivables, net$2,687 $2,638 
(a)Excludes $18 million and $19 million of accrued interest on VOCRs as of September 30, 2026 and December 31, 2025, which are included in Trade receivables, net on the Condensed Consolidated Balance Sheets.
(b)Excludes $9 million and $8 million of accrued interest on VOCRs as of September 30, 2026 and December 31, 2025, which are included in Trade receivables, net on the Condensed Consolidated Balance Sheets.
Financing Receivable, Allowance for Credit Loss [Table Text Block] The activity in the allowance for loan losses on VOCRs was as follows (in millions):
Nine Months Ended September 30,
20262025
Allowance for loan losses, beginning balance$663 $614 
Initial allowance for contract receivables acquired during the period53 — 
Provision for loan losses, net (a)
389 365 
Contract receivables write-offs, net(357)(325)
Allowance for loan losses, ending balance$748 $654 
(a)Recorded as a reduction to Net revenues.
The table below represents the gross write-offs of vacation ownership contract receivables by year of origination (in millions):
Nine Months Ended
September 30, 2026
2026$20 
2025170 
202483 
202344 
202224 
Prior22 
Total$363 
Financing Receivable Credit Quality Indicators [Table Text Block]
The following table details an aging analysis of vacation ownership contract receivables using the most recently updated FICO scores, based on the policy described above (in millions):
As of September 30, 2026
700+600-699<600No ScoreAsia PacificTotal
Current$2,068 $717 $139 $100 $235 $3,259 
31 - 60 days30 27 12 3 4 76 
61 - 90 days20 18 10 1 3 52 
91 - 120 days14 17 13 1 2 47 
Total$2,132 $779 $174 $105 $244 $3,434 
As of December 31, 2025
700+600-699<600No ScoreAsia PacificTotal
Current$2,014 $680 $133 $77 $213 $3,117 
31 - 60 days31 29 13 2 4 79 
61 - 90 days22 18 11 2 3 56 
91 - 120 days15 17 12 2 3 49 
Total$2,082 $744 $169 $83 $223 $3,301 
The following table details the year of origination of vacation ownership contract receivables using the most recently updated FICO scores, based on the policy described above (in millions):
As of September 30, 2026
700+600-699<600No ScoreAsia PacificTotal
2026$777 $197 $14 $26 $113 $1,127 
2025539 209 45 21 65 879 
2024308 124 36 16 32 516 
2023206 96 29 19 14 364 
2022141 69 23 9 5 247 
Prior161 84 27 14 15 301 
Total$2,132 $779 $174 $105 $244 $3,434 
As of December 31, 2025
700+600-699<600No ScoreAsia PacificTotal
2025$1,001 $266 $24 $30 $131 $1,452 
2024431 169 45 18 45 708 
2023251 116 36 12 18 433 
2022163 81 26 6 7 283 
202173 36 13 2 5 129 
Prior163 76 25 15 17 296 
Total$2,082 $744 $169 $83 $223 $3,301