Securitized Vacation Ownership Debt

9 Months Ended

Sep. 30, 2015

Note 8.

Securitized Vacation Ownership Debt

As discussed in Note 5, our VIEs associated with the securitization of our VOI notes receivable are consolidated in our financial statements. Long-term and short-term securitized vacation ownership debt consisted of the following (in millions):

	September 30,			December 31,
	2015			2014
2009 securitization, terminated 2015 ⁽¹⁾	$	—		$	13
2010 securitization, interest rates ranging from 3.65% to 4.75%, maturing 2021		54			72
2011 securitization, interest rates ranging from 3.67% to 4.82%, maturing 2025		66			81
2012 securitization, interest rates ranging from 2.00% to 2.76%, maturing 2023		68			83
		188			249
Less current maturities		(51	)		(73	)
Long-term securitized debt	$	137		$	176

(1)	During the three months ended September 30, 2015, we terminated the 2009 Securitization, including pay down of all principal and interest due (see Note 5).