v3.22.2.2
Business Segments (Tables)
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Schedule of Segment Operating Performance Reconciled to Consolidated Amounts The following table presents revenues for our reportable segments reconciled to consolidated amounts:
Three Months Ended September 30,Nine Months Ended September 30,
($ in millions)2022202120222021
Revenues:
Real estate sales and financing$745 $659 $1,783 $976 
Resort operations and club management(1)
299 216 870 403 
Total segment revenues1,044 875 2,653 1,379 
Cost reimbursements82 58 215 131 
Intersegment eliminations(1)(2)
(10)(5)(25)(13)
Total revenues$1,116 $928 $2,843 $1,497 
(1)Includes charges to the real estate sales and financing segment from the resort operations and club management segment for fulfillment of discounted marking package stays at resorts. These charges totaled $10 million and $5 million for the three months ended September 30, 2022 and 2021, respectively. For the nine months ended September 30, 2022 and 2021, these charges totaled $25 million and $13 million, respectively.
(2)Includes charges to the real estate sales and financing segment from the resort operations and club management segment for the rental of model units to show prospective buyers. These charges totaled $1 million and $2 million and less than $1 million for the three and nine months ended September 30, 2022 and 2021, respectively.
Schedule of Adjusted EBITDA Reconciled to Net (Loss) Income
The following table presents Adjusted EBITDA for our reportable segments reconciled to net income:
 Three Months Ended September 30,Nine Months Ended September 30,
($ in millions)2022202120222021
Adjusted EBITDA:
Real estate sales and financing(1)
$295 $280 $666 $352 
Resort operations and club management(1)
112 109 332 212 
Segment Adjusted EBITDA407 389 998 564 
Acquisition and integration-related expense(19)(54)(49)(83)
General and administrative(50)(41)(158)(92)
Depreciation and amortization(57)(48)(181)(71)
License fee expense(33)(24)(90)(57)
Other loss, net2 (20)1 (22)
Interest expense(37)(42)(105)(74)
Income tax expense(54)(49)(115)(46)
Equity in earnings from unconsolidated affiliates2 1 9 7 
Impairment expense— (1)— (2)
Other adjustment items(2)
(11)(12)(36)(23)
Net income$150 $99 $274 $101 
(1)Includes intersegment transactions. Refer to our table presenting revenues by reportable segment above for additional discussion.
(2)For the three and nine months ended September 30, 2022 and 2021, this amount includes costs associated with restructuring, one-time charges and other non-cash items included within our reportable segments.