v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
Mar. 31, 2022
Sep. 30, 2021
Mar. 31, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Operating Activities              
Net income $ 149,767,212 $ 51,000,000 $ 98,704,709 $ (7,000,000) $ 273,567,561 $ 100,634,069  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation and amortization 57,000,000   48,000,000   181,000,000 71,000,000  
Amortization of deferred financing costs, acquisition premiums and other         34,000,000 19,000,000  
Provision for financing receivables losses         103,000,000 77,000,000  
Impairment expense         0 2,000,000  
Other loss, net         1,000,000 7,000,000  
Share-based compensation         40,000,000 32,000,000  
Deferred income tax (benefit) expense         (1,000,000) 9,000,000  
Equity in earnings from unconsolidated affiliates (2,000,000)   (1,000,000)   (9,000,000) (7,000,000)  
Return on investment in unconsolidated affiliates         0 2,000,000  
Net changes in assets and liabilities:              
Accounts receivable, net         (64,000,000) (102,000,000)  
Timeshare financing receivables, net         (141,000,000) (36,000,000)  
Inventory         101,000,000 (11,000,000)  
Purchases and development of real estate for future conversion to inventory         (4,000,000) (25,000,000)  
Other assets         (21,000,000) 62,000,000  
Accounts payable, accrued expenses and other         257,000,000 5,000,000  
Advanced deposits         25,000,000 (5,000,000)  
Deferred revenues         (13,000,000) (165,000,000)  
Net cash provided by operating activities         763,000,000 36,000,000  
Investing Activities              
Acquisition of Diamond, net of cash and restricted cash acquired         0 (1,585,000,000)  
Capital expenditures for property and equipment         (25,000,000) (11,000,000)  
Software capitalization costs         (26,000,000) (14,000,000)  
Net cash used in investing activities         (51,000,000) (1,610,000,000)  
Financing Activities              
Issuance of debt         0 2,650,000,000  
Issuance of non-recourse debt         671,000,000 96,000,000  
Repayment of debt         (310,000,000) (843,000,000)  
Repayment of non-recourse debt         (824,000,000) (234,000,000)  
Debt issuance costs and discounts         (12,000,000) (61,000,000)  
Repurchase and retirement of common stock         (162,000,000) 0  
Payment of withholding taxes on vesting of restricted stock units         (8,000,000) (5,000,000)  
Proceeds from employee stock plan purchases         2,000,000 1,000,000  
Proceeds from stock option exercises         1,000,000 10,000,000  
Other financing activity         (2,000,000) (2,000,000)  
Cash, cash equivalents and restricted cash, beginning of period         (644,000,000) 1,612,000,000  
Effect of changes in exchange rates on cash, cash equivalents & restricted cash         (19,000,000) 0  
Net increase in cash, cash equivalents and restricted cash         49,000,000 38,000,000  
Cash, cash equivalents and restricted cash, beginning of period   $ 695,000,000   $ 526,000,000 695,000,000 526,000,000 $ 526,000,000
Cash, cash equivalents and restricted cash, end of period $ 744,000,000   $ 564,000,000   $ 744,000,000 $ 564,000,000 $ 695,000,000