v3.26.3
Restructuring (Tables)
 9 Months Ended
Sep. 30, 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 September 30, 2026Nine Months Ended September 30, 2026
Income Statement Classification
Inventory impairments$3 $14 Cost of vacation ownership interests
Inventory write-downs(1)13 Cost of vacation ownership interests
Resort closure costs— 5 Operating
Severance and related benefits— (2)Restructuring
Other employee related costs2 5 Operating
Total resort optimization initiative costs$4 $35 
Three Months Ended September 30, 2025Nine Months Ended September 30, 2025Income Statement Classification
Inventory impairments$6 $6 Cost of vacation ownership interests
Other employee related costs1 1 Operating
Total resort optimization initiative costs$7 $7 
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 September 30,
2026
Personnel-related$14 $5 $(13)$2 
(a)
$8 
Facility-related12 — (1)— 11 
Other2 5 (7)— — 
$28 $10 $(21)$2 $19 
(a)Represents reimbursable costs the Company will pay on behalf of the respective HOAs related to the resort optimization initiative.