Vacation Ownership Contract Receivables (Tables)

12 Months Ended

Dec. 31, 2020

Vacation Ownership Contract Receivables [Abstract]

Current And Long-Term Vacation Ownership Contract Receivables

As of December 31, Vacation ownership contract receivables, net consisted of (in millions):

	2020		2019
Vacation ownership contract receivables:
Securitized (a)	$	2,458	$	2,984
Non-securitized (b)	717		883
Vacation ownership contract receivables, gross	3,175		3,867
Less: Allowance for loan losses	693		747
Vacation ownership contract receivables, net	$	2,482	$	3,120

Principal Payments Due On Vacation Ownership Contract Receivables

Principal payments due on the Company’s VOCRs during each of the five years subsequent to December 31, 2020, and thereafter are as follows (in millions):

	Securitized		Non - Securitized		Total
2021	$	245	$	70	$	315
2022	263		69		332
2023	280		76		356
2024	294		81		375
2025	287		74		361
Thereafter	1,089		347		1,436
	$	2,458	$	717	$	3,175

Allowance For Loan Losses On Vacation Ownership Contract Receivables

The activity in the allowance for loan losses on VOCRs was as follows (in millions):

	Amount
Allowance for loan losses as of December 31, 2017	$	691
Provision for loan losses	456
Contract receivables written off, net	(413)
Allowance for loan losses as of December 31, 2018	734
Provision for loan losses	479
Contract receivables write-offs, net	(466)
Allowance for loan losses as of December 31, 2019	747
Provision for loan losses	415
Contract receivables write-offs, net	(469)
Allowance for loan losses as of December 31, 2020	$	693

Aged Analysis Of Financing Receivables Using Updated FICO Scores

The following table details an aging analysis of financing receivables using the most recently updated FICO scores, based on the policy described above (in millions):

	As of December 31, 2020
	700+		600-699		<600		No Score		Asia Pacific		Total
Current	$	1,706	$	835	$	160	$	96	$	221	$	3,018
31 - 60 days	20		25		13		4		2		64
61 - 90 days	13		18		12		3		1		47
91 - 120 days	12		16		14		3		1		46
Total (a)	$	1,751	$	894	$	199	$	106	$	225	$	3,175
	As of December 31, 2019
	700+		600-699		<600		No Score		Asia Pacific		Total
Current	$	2,019	$	1,049	$	196	$	134	$	250	$	3,648
31 - 60 days	25		37		21		5		2		90
61 - 90 days	18		28		17		3		1		67
91 - 120 days	13		21		24		3		1		62
Total (a)	$	2,075	$	1,135	$	258	$	145	$	254	$	3,867

(a)Includes contracts under temporary deferment (up to 180 days). As of December 31, 2020 and 2019, contracts under deferment total $37 million and $8 million.

The following table details the year of origination of financing receivables using the most recently updated FICO scores, based on the policy described above (in millions):

	As of December 31, 2020
	700+		600-699		<600		No Score		Asia Pacific		Total
2020	$	424	$	173	$	11	$	17	$	55	$	680
2019	476		269		67		27		70		909
2018	339		183		50		21		36		629
2017	220		115		31		16		22		404
2016	128		63		16		10		16		233
Prior	164		91		24		15		26		320
Total	$	1,751	$	894	$	199	$	106	$	225	$	3,175
	As of December 31, 2019
	700+		600-699		<600		No Score		Asia Pacific		Total
2019	$	866	$	454	$	54	$	53	$	119	$	1,546
2018	486		285		80		32		49		932
2017	303		166		51		23		29		572
2016	173		89		29		14		20		325
2015	99		56		17		9		14		195
Prior	148		85		27		14		23		297
Total	$	2,075	$	1,135	$	258	$	145	$	254	$	3,867