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Inventory
 3 Months Ended
Mar. 28, 2014
Inventory Disclosure [Abstract]  
Inventory

7. INVENTORY

The following table shows the composition of our inventory balances:

 

($ in millions)    At March 28,
            2014             		      At January 3,
            2014             		  

Finished goods (1)

    $ 379       $ 369   

Work-in-progress

      124         151   

Land and infrastructure (2)

      341         344   
  

 

 

     

 

 

  

Real estate inventory

      844         864   

Operating supplies and retail inventory

      6         6   
  

 

 

     

 

 

  
   $ 850       $ 870   
  

 

 

     

 

 

  

 

(1)  Represents completed inventory that is either registered for sale as vacation ownership interests, or unregistered and available for sale in its current form.

 

(2)  Includes sales centers to be converted into vacation ownership products to be sold in the future.

We value vacation ownership and residential products at the lower of cost or fair market value less costs to sell, in accordance with applicable accounting guidance, and we record operating supplies at the lower of cost (using the first-in, first-out method) or market value.