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Vacation Ownership Contract Receivables (Tables)
12 Months Ended
Dec. 31, 2022
Vacation Ownership Contract Receivables [Abstract]  
Current And Long-Term Vacation Ownership Contract Receivables Vacation ownership contract receivables, net consisted of the following (in millions):
As of December 31,
20222021
Vacation ownership contract receivables:
Securitized (a)
$2,164 $2,061 
Non-securitized (b)
747 758 
Vacation ownership contract receivables, gross2,911 2,819 
Less: allowance for loan losses541 510 
Vacation ownership contract receivables, net$2,370 $2,309 
(a)Excludes $17 million of accrued interest on VOCRs as of both December 31, 2022 and 2021, which are included in Trade receivables, net on the Consolidated Balance Sheets.(b)Excludes $7 million and $5 million of accrued interest on VOCRs as of December 31, 2022 and 2021, which are included in Trade receivables, net on the Consolidated Balance Sheets.
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, 2022, and thereafter are as follows (in millions):
SecuritizedNon -
Securitized
Total
2023$208 $80 $288 
2024222 81 303 
2025234 89 323 
2026244 94 338 
2027237 97 334 
Thereafter1,019 306 1,325 
$2,164 $747 $2,911 
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, 2019$747 
Provision for loan losses, net415 
Contract receivables write-offs, net(469)
Allowance for loan losses as of December 31, 2020693 
Provision for loan losses, net129 
Contract receivables write-offs, net(312)
Allowance for loan losses as of December 31, 2021510 
Provision for loan losses, net302 
Contract receivables write-offs, net(271)
Allowance for loan losses as of December 31, 2022$541 
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, 2022
700+600-699<600No ScoreAsia PacificTotal
Current$1,674 $700 $93 $142 $143 $2,752 
31 - 60 days24 32 11 73 
61 - 90 days16 20 — 45 
91 - 120 days12 17 10 — 41 
Total (a)
$1,726 $769 $121 $151 $144 $2,911 
As of December 31, 2021
700+600-699<600No ScoreAsia PacificTotal
Current$1,630 $734 $98 $72 $169 $2,703 
31 - 60 days17 24 10 55 
61 - 90 days12 — 29 
91 - 120 days12 32 
Total (a)
$1,665 $782 $124 $77 $171 $2,819 
(a)Includes contracts under temporary deferment (up to 180 days) of $7 million as of December 31, 2021. There were no contracts under temporary deferment as of December 31, 2022.
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, 2022
700+600-699<600No ScoreAsia PacificTotal
2022$745 $291 $19 $87 $52 $1,194 
2021275 149 30 19 481 
2020134 60 12 15 226 
2019198 97 23 16 21 355 
2018162 74 16 13 14 279 
Prior212 98 21 22 23 376 
Total$1,726 $769 $121 $151 $144 $2,911 
As of December 31, 2021
700+600-699<600No ScoreAsia PacificTotal
2021$534 $221 $11 $11 $38 $815 
2020224 105 17 38 390 
2019324 168 37 19 33 581 
2018234 117 25 14 24 414 
2017157 76 15 11 14 273 
Prior192 95 19 16 24 346 
Total$1,665 $782 $124 $77 $171 $2,819