v3.26.3
ACQUISITION - Schedule of Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Millions
Apr. 29, 2026
Sep. 30, 2026
Apr. 28, 2026
Dec. 31, 2025
Liabilities assumed        
Goodwill   $ 1,987   $ 1,985
Elara        
Liabilities assumed        
Ownership percentage     25.00%  
Elara Acquisition        
Assets acquired        
Cash and cash equivalents $ 9      
Restricted cash 20      
Accounts receivable 4      
Timeshare financing receivables, net 411      
Inventory 37      
Property and equipment 11      
Other assets 3      
Total assets acquired 495      
Liabilities assumed        
Accounts payable, accrued expenses and other 11      
Advanced deposits 1      
Total liabilities assumed 329      
Net assets acquired 166      
Total purchase consideration 124      
Plus: Fair value of previously held 25% ownership interest 44      
Less: Net assets acquired (166)      
Goodwill 2      
Securitized timeshare financing receivables 295      
Unsecuritized timeshare financing receivables 116      
Elara Acquisition | Senior Notes and Other Debt        
Liabilities assumed        
Debt and non-recourse debt 7      
Elara Acquisition | Secured Debt        
Liabilities assumed        
Debt and non-recourse debt $ 310