Securitized Vacation Ownership Debt (Tables)

12 Months Ended

Dec. 31, 2014

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Long-Term and Short-Term Securitized Vacation Ownership Debt

Long-term and short-term securitized vacation ownership debt consisted of the following (in millions):

	December 31,
	2014			2013
2009 securitization, interest rate at 5.81%, maturing 2015	$	13		$	36
2010 securitization, interest rates ranging from 3.65% to 4.75%, maturing 2021		72			101
2011 securitization, interest rates ranging from 3.67% to 4.82%, maturing 2025		81			105
2012 securitization, interest rates ranging from 2.00% to 2.76%, maturing 2023		83			113
		249			355
Less current maturities		(73	)		(97	)
Long-term debt	$	176		$	258