GOODWILL AND INTANGIBLES

3 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]


10.			GOODWILL AND INTANGIBLES

Goodwill

The following table details the carrying amount of our goodwill at March 31, 2021 and December 31, 2020, and reflects goodwill attributed to the ILG Acquisition, which was allocated to our Vacation Ownership and our Exchange & Third-party Management reporting units.


($ in millions)	Vacation Ownership Segment		Exchange & Third-Party Management Segment		Total Consolidated
Balance at December 31, 2020	$	2,445	$	372	$	2,817
Impairment	—		—		—
Foreign exchange adjustments	—		—		—
Balance at March 31, 2021	$	2,445	$	372	$	2,817

Q1 2021

We performed a qualitative analysis of the impact of recent events, including business and industry specific considerations, on the fair value of our reporting units as of the end of the first quarter of 2021 and determined that an interim quantitative impairment test was not required for either of our reporting units.

While the goodwill of our reporting units was not impaired as of the first quarter of 2021, we cannot assure you that goodwill will not be impaired in future periods. We will continue to monitor the operating results, cash flow forecasts and impact from changes in market conditions, as well as impacts of COVID-19, for these reporting units.

Q1 2020

During the first quarter of 2020, we recognized a non-cash impairment charge of $73 million in the Impairment line on our Income Statement for the three months ended March 31, 2020, related to the Exchange & Third-Party Management reporting unit, which was primarily driven by the change in expected future operating results as a result of the impact of the COVID-19 pandemic.

Intangible Assets

The following table details the composition of our intangible asset balances:


($ in millions)	At March 31, 2021		At December 31, 2020
Definite-lived intangible assets
Member relationships	$	671	$	671
Management contracts	351		351
	1,022		1,022
Accumulated amortization	(148)		(134)
	874		888
Indefinite-lived intangible assets
Trade names	64		64
	$	938	$	952

Q1 2020

During the first quarter of 2020, we recognized a non-cash impairment charge of $18 million in the Impairment line on our Income Statement for the three months ended March 31, 2020, related to the indefinite-lived intangible assets in our Exchange & Third-Party Management reporting unit. The impairment charge was primarily attributed to the impact of the COVID-19 pandemic.