INTERIM CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2026	Dec. 31, 2025
ASSETS
Cash and cash equivalents	$ 229	$ 406
Restricted cash (including $98 and $81 from VIEs, respectively)	304	327
Accounts and contracts receivable, net (including $17 and $15 from VIEs, respectively)	419	428
Vacation ownership notes receivable, net (including $2,191 and $1,900 from VIEs, respectively)	2,676	2,565
Inventory	679	692
Property and equipment, net	936	950
Goodwill	2,958	2,958
Intangibles, net	665	711
Other (including $188 and $168 from VIEs, respectively)	603	720
TOTAL ASSETS	9,469	9,757
LIABILITIES AND EQUITY
Accounts payable	227	358
Advance deposits	167	163
Accrued liabilities (including $4 and $4 from VIEs, respectively)	388	376
Deferred revenue and other	358	371
Payroll and benefits liability	233	218
Deferred compensation liability	242	225
Securitized debt, net (including $2,450 and $2,173 from VIEs, respectively)	2,422	2,146
Debt, net	2,977	3,534
Other	123	142
Deferred taxes	213	231
TOTAL LIABILITIES	7,350	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; 75,934,456 and 75,891,531 shares issued, respectively	1	1
Treasury stock — at cost; 41,515,500 and 41,767,498 shares, respectively	(2,412)	(2,427)
Additional paid-in capital	4,011	3,996
Accumulated other comprehensive loss	(13)	(11)
Retained earnings	532	434
TOTAL MVW STOCKHOLDERS' EQUITY	2,119	1,993
Noncontrolling interests	0	0
TOTAL EQUITY	2,119	1,993
TOTAL LIABILITIES AND EQUITY	$ 9,469	$ 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.

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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.