Securitized Vacation Ownership Debt

6 Months Ended

Jun. 30, 2011

Securitized Vacation Ownership Debt [Abstract]

Securitized Vacation Ownership Debt

Note 10. Securitized Vacation Ownership Debt

     As discussed in Note 6, the Company’s VIEs associated with the securitization of its vacation ownership notes receivable are consolidated in the Company’s financial statements. Long-term and short-term securitized vacation ownership debt consisted of the following (in millions):

	June 30,			December 31,
	2011			2010
2003 securitization, interest rates ranging from 3.95% to 6.96%, maturing 2018	$	13		$	17
2005 securitization, interest rates ranging from 5.25% to 6.29%, maturing 2018		45			55
2006 securitization, interest rates ranging from 5.28% to 5.85%, maturing 2018		32			39
2009 securitization, interest rate at 5.81%, maturing 2016		111			128
2010 securitization, interest rates ranging from 3.65% to 4.75%, maturing 2018		221			255
		422			494
Less current maturities		(121	)		(127	)
Long-term securitized debt	$	301		$	367