v3.24.2
Revenue Recognition (Tables)
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Net Revenues Property management fee and reimbursable revenues were (in millions):
Three Months EndedSix Months Ended
June 30,June 30,
2024202320242023
Management fee revenues$113 $108 $227 $215 
Reimbursable revenues97 97 194 189 
Property management fees and reimbursable revenues$210 $205 $421 $404 
The table below presents a disaggregation of the Company’s net revenues from contracts with customers by major services and products for each of the Company’s segments (in millions):
Three Months EndedSix Months Ended
June 30,June 30,
2024202320242023
Vacation Ownership
Vacation ownership interest sales$441 $401 $810 $739 
Property management fees and reimbursable revenues210 205 421 404 
Consumer financing111 103 221 206 
Fee-for-Service commissions27 41 45 67 
Ancillary revenues18 18 36 37 
Total Vacation Ownership807 768 1,533 1,453 
Travel and Membership
Transaction revenues126 126 266 273 
Subscription revenues44 46 90 91 
Ancillary revenues7 7 14 15 
Total Travel and Membership177 179 370 379 
Corporate and other
Ancillary revenues1 3 1 3 
Eliminations— (1)(4)(6)
Total Corporate and other1 2 (3)(3)
Net revenues$985 $949 $1,900 $1,829 
Schedule of Contract Liabilities Contract liabilities consisted of (in millions):
June 30,
2024		December 31, 2023
Deferred subscription revenue$159 $161 
Deferred VOI trial package revenue140 136 
Deferred VOI incentive revenue84 81 
Deferred exchange-related revenue (a)
60 59 
Deferred co-branded credit card programs revenue5 6 
Deferred other revenue 6 1 
Total$454 $444 
(a)Includes contractual liabilities to accommodate members for cancellations due to unexpected events. These amounts are included within Accrued expenses and other liabilities on the Condensed Consolidated Balance Sheets.
Changes in contract liabilities for the periods presented were as follows (in millions):
Six Months Ended
June 30,
20242023
Beginning balance$444 $400 
Additions173 177 
Revenue recognized(163)(153)
Ending balance$454 $424 
Schedule of Performance Obligations
The following table summarizes the Company’s remaining performance obligations for the 12-month periods set forth below (in millions):
7/1/2024 - 6/30/20257/1/2025 - 6/30/20267/1/2026 - 6/30/2027ThereafterTotal
Subscription revenue$91 $35 $16 $17 $159 
VOI trial package revenue131 3 3 3 140 
VOI incentive revenue84 — — — 84 
Exchange-related revenue57 3 — — 60 
Co-branded credit card programs revenue3 2 — — 5 
Other revenue6 — — — 6 
Total$372 $43 $19 $20 $454