Travel + Leisure (TNL) 10-K 26 Feb 19 2018 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Jan. 31, 2019	Jun. 30, 2018
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Entity Registrant Name	Wyndham Destinations, Inc.
Entity Central Index Key	1,361,658
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		94,462,996
Entity Well-know Seasoned Issuer	Yes
Entity Public Float			$ 4,357,367,362
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net revenues
Net revenues	$ 956	$ 1,062	$ 1,007	$ 907	$ 931	$ 1,015	$ 978	$ 883	$ 3,931	$ 3,806	$ 3,692
Expenses
Operating									1,642	1,636	1,607
Marketing									609	546	499
General and administrative									513	580	568
Separation and related costs									223	26	0
Asset impairments									(4)	205	0
Restructuring									16	14	12
Depreciation and amortization									138	136	127
Total expenses	797	865	942	804	839	831	933	763	3,408	3,367	3,034
Operating income	159	197	65	103	92	184	45	120	523	439	658
Other (income), net									(38)	(28)	(21)
Interest expense									170	155	133
Early extinguishment of debt									0	0	11
Interest (income)									(5)	(6)	(7)
Income before income taxes									396	318	542
Provision/(benefit) for income taxes									130	(328)	190
Income from continuing operations	106	131	(12)	41	444	102	14	86	266	646	352
(Loss)/income from operations of discontinued businesses, net of income taxes	2	(3)	(42)	(7)	(28)	162	71	4	(50)	209	260
Income on disposal of discontinued business, net of income taxes	4	20	432	0					456	0	0
Net income	$ 112	$ 148	$ 378	$ 34	416	264	85	90	672	855	612
Net income attributable to noncontrolling interest					0	0	(1)	0	0	(1)	(1)
Net income attributable to Wyndham Destinations shareholders					$ 416	$ 264	$ 84	$ 90	$ 672	$ 854	$ 611
Basic earnings per share
Continuing operations	$ 1.10	$ 1.32	$ (0.12)	$ 0.41	$ 4.40	$ 1	$ 0.13	$ 0.82	$ 2.69	$ 6.26	$ 3.19
Discontinued operations	0.06	0.17	3.90	(0.07)	(0.28)	1.58	0.68	0.04	4.11	2.03	2.37
Basic (in dollars per share)	1.16	1.49	3.78	0.34	4.12	2.58	0.81	0.86	6.80	8.29	5.56
Diluted earnings per share
Continuing operations	0.06	0.18	3.89	(0.07)	(0.27)	1.58	0.68	0.04	4.09	2.02	2.35
Discontinued operations	1.16	1.49	3.77	0.34	4.09	2.57	0.81	0.85	6.77	8.24	5.52
Continuing operations (in dollars per share)	$ 1.10	$ 1.31	$ (0.12)	$ 0.41	$ 4.36	$ 0.99	$ 0.13	$ 0.81	$ 2.68	$ 6.22	$ 3.17
Vacation ownership interest sales
Net revenues
Net revenues									$ 1,769	$ 1,684	$ 1,601
Expenses
Cost of revenue									183	150	146
Service and membership fees
Net revenues
Net revenues									1,611	1,599	1,585
Consumer financing
Net revenues
Net revenues									491	463	440
Expenses
Cost of revenue									88	74	75
Other
Net revenues
Net revenues									$ 60	$ 60	$ 66

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net Income
Net income	$ 672	$ 855	$ 612
Other comprehensive (loss)/income, net of tax
Foreign currency translation adjustments	(38)	95	(36)
Defined benefit pension plans	5	1	1
Other comprehensive (loss)/income, net of tax	(33)	96	(35)
Comprehensive Income	639	951	577
Comprehensive income attributable to noncontrolling interest	0	(1)	(1)
Comprehensive income attributable to Wyndham Destinations shareholders	$ 639	$ 950	$ 576

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 218	$ 48
Restricted cash (VIE - $120 and $106)	155	171
Trade receivables, net	121	195
Vacation ownership contract receivables, net (VIE - $2,883 and $2,553)	3,037	2,901
Inventory	1,224	1,249
Prepaid expenses	153	118
Property and equipment, net	712	822
Goodwill	922	911
Other intangibles, net	109	143
Other assets	304	328
Assets of discontinued operations and held-for-sale business	203	3,564
Total assets	7,158	10,450
Liabilities and Equity
Accounts payable	66	232
Deferred income	518	559
Accrued expenses and other liabilities	1,004	847
Non-recourse vacation ownership debt (VIE)	2,357	2,098
Debt	2,881	3,908
Deferred income taxes	736	613
Liabilities of discontinued operations and held-for-sale business	165	1,419
Total liabilities	7,727	9,676
Commitments and contingencies (Note 19)
Stockholders' (deficit)/equity:
Preferred stock, $.01 par value, authorized 6,000,000 shares, none issued and outstanding	0	0
Common stock, $.01 par value, 600,000,000 shares authorized, 220,120,808 issued as of 2018 and 218,796,817 as of 2017	2	2
Treasury stock, at cost – 125,137,857 shares as of 2018 and 118,887,441 shares as of 2017	(6,043)	(5,719)
Additional paid-in capital	4,077	3,996
Retained earnings	1,442	2,501
Accumulated other comprehensive loss	(52)	(11)
Total stockholders’ (deficit)/equity	(574)	769
Noncontrolling interest	5	5
Total (deficit)/equity	(569)	774
Total liabilities and (deficit)/equity	$ 7,158	$ 10,450

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Restricted cash (VIE - $120 and $106)	$ 155,000,000	$ 171,000,000
Vacation ownership contract receivables, net (VIE - $2,883 and $2,553)	3,037,000,000	2,901,000,000
Non-recourse vacation ownership debt (VIE)	$ 2,357,000,000	$ 2,098,000,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	6,000,000	6,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in shares)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	600,000,000	600,000,000
Common Stock, Shares, Issued (in shares)	220,120,808	218,796,817
Treasury stock, shares (in shares)	125,137,857	118,887,441
Variable Interest Entity, Primary Beneficiary
Restricted cash (VIE - $120 and $106)	$ 120	$ 106
Vacation ownership contract receivables, net (VIE - $2,883 and $2,553)	2,883	2,553
Non-recourse vacation ownership debt (VIE)	$ 2,357	$ 2,098

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Activities
Net income	$ 672	$ 855	$ 612
Loss/(income) from operations of discontinued businesses, net of income taxes	50	(209)	(260)
Income on disposal of discontinued business, net of income taxes	(456)	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	138	136	127
Provision for loan losses	456	420	342
Deferred income taxes	122	(397)	72
Stock-based compensation	129	59	57
Excess tax benefits from stock-based compensation	0	0	(9)
Impairment charges related to abandonment of new product initiative	5	205	0
Loss on early extinguishment of debt	0	0	11
Non-cash interest	20	22	23
Net change in assets and liabilities, excluding impact of acquisitions and dispositions:
Trade receivables	(27)	7	1
Vacation ownership contract receivables	(615)	(526)	(405)
Inventory	(27)	(71)	(26)
Prepaid expenses	(26)	(7)	5
Other assets	(17)	(16)	(10)
Accounts payable, accrued expenses, and other liabilities	(146)	(6)	(70)
Deferred income	7	11	(5)
Other, net	7	17	(24)
Net cash provided by operating activities - continuing operations	292	500	441
Net cash provided by operating activities - discontinued operations	150	486	522
Net cash provided by operating activities	442	986	963
Investing Activities
Property and equipment additions	(99)	(107)	(117)
Net assets acquired, net of cash acquired, and acquisition related payments	(5)	(48)	(21)
Proceeds from asset sales	12	6	16
Other, net	(7)	(2)	(18)
Cash used in investing activities - continuing operations	(99)	(151)	(140)
Cash used in investing activities - discontinued operations	(626)	(211)	(206)
Net cash used in investing activities	(725)	(362)	(346)
Financing Activities
Proceeds from non-recourse vacation ownership debt	2,977	2,002	2,079
Principal payments on non-recourse vacation ownership debt	(2,713)	(2,053)	(2,044)
Proceeds from debt	3,203	1,629	112
Principal payments on debt	(3,520)	(1,293)	(141)
Repayments of commercial paper, net	(147)	(280)	318
Proceeds from notes issued and term loan	300	694	325
Repayment of notes	(790)	(300)	(327)
Proceeds from vacation ownership inventory arrangements	0	0	20
Repayments of vacation ownership inventory arrangements	(12)	(41)	(26)
Dividends to shareholders	(194)	(242)	(223)
Cash transferred to Wyndham Hotels at spin-off	(476)	0	0
Repurchase of common stock	(330)	(599)	(619)
Excess tax benefits from stock-based compensation	0	0	9
Debt issuance costs	(20)	(10)	(20)
Net share settlement of incentive equity awards	(60)	(39)	(36)
Other, net	(4)	(4)	(1)
Cash used in financing activities - continuing operations	(1,786)	(536)	(574)
Cash provided by/(used in) financing activities - discontinued operations	2,066	(22)	(12)
Net cash provided by/(used in) financing activities	280	(558)	(586)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash	(9)	17	(20)
Net change in cash, cash equivalents and restricted cash	(12)	83	11
Cash, cash equivalents and restricted cash, beginning of period	416	333	322
Cash, cash equivalents and restricted cash, end of period	$ 404	$ 416	$ 333

Consolidated Statements Of Equi

Consolidated Statements Of Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Non-controlling Interest	Previously Reported	Previously ReportedAccumulated Other Comprehensive Loss
Beginning balance adjustment due to change in accounting principle	$ (89)				$ (91)	$ 2
Balance, shares at Dec. 31, 2015		114
Beginning Balance, value at Dec. 31, 2015	953	$ 2	$ (4,493)	$ 3,923	1,592	(72)	$ 3		$ (74)
Net income	612				611		1	$ 612
Other comprehensive loss	(35)					(35)
Issuance of shares for RSU vesting, shares		1
Net share settlement of stock-based compensation	(36)			(36)
Change in stock-based compensation	68			68
Change in stock-based compensation and impact of equity restructuring for Board of Directors	1			1
Repurchase of common stock, shares		(9)
Repurchase of common stock, value	(625)		(625)
Change in excess tax benefit on equity awards	9			9
Dividends	(226)				(226)
Other	1			1
Balance, shares at Dec. 31, 2016		106
Ending Balance, value at Dec. 31, 2016	633	$ 2	(5,118)	3,966	1,886	(107)	4
Net income	855				854		1	872
Other comprehensive loss	96					96
Net share settlement of stock-based compensation	(39)			(39)
Change in stock-based compensation	68			68
Change in stock-based compensation and impact of equity restructuring for Board of Directors	2			2
Repurchase of common stock, shares		(6)
Repurchase of common stock, value	(601)		(601)
Dividends	(239)				(239)
Other	(1)			(1)
Balance, shares at Dec. 31, 2017		100
Ending Balance, value at Dec. 31, 2017	774	$ 2	(5,719)	3,996	2,501	(11)	5	$ 883
Net income	672				672
Other comprehensive loss	(33)					(33)
Issuance of shares for RSU vesting, shares		1
Net share settlement of stock-based compensation	(60)			(60)
Change in stock-based compensation	150			150
Change in stock-based compensation and impact of equity restructuring for Board of Directors	(9)			(9)
Repurchase of common stock, shares		(6)
Repurchase of common stock, value	(324)		(324)
Dividends	(191)				(191)
Other	(1,531)				(1,531)
Balance, shares at Dec. 31, 2018		95
Ending Balance, value at Dec. 31, 2018	(569)	$ 2	$ (6,043)	$ 4,077	1,442	(52)	$ 5
Beginning balance adjustment due to change in accounting principle	$ (17)				$ (9)	$ (8)

Background and Basis Of Present

Background and Basis Of Presentation	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background and Basis Of Presentation	Background and Basis of Presentation Wyndham Destinations, Inc. (formerly known as Wyndham Worldwide Corporation (“Wyndham Worldwide”) and its subsidiaries (collectively, “Wyndham Destinations” or the “Company”), is a global provider of hospitality services and products. The Company operates in two segments: Vacation Ownership and Exchange & Rentals. The Vacation Ownership segment develops, markets and sells vacation ownership interests (“VOIs”) to individual consumers, provides consumer financing in connection with the sale of VOIs and provides property management services at resorts. The Exchange & Rentals segment provides vacation exchange services and products to owners of VOIs and manages and markets vacation rental properties primarily on behalf of independent owners. On May 9, 2018, the Company completed the sale of its European vacation rentals business. On May 31, 2018, the Company completed the spin-off of its hotel business (“Spin-off”) into a separate publicly traded company, Wyndham Hotels & Resorts, Inc. (“Wyndham Hotels”). This transaction was effected through a pro rata distribution of the new hotel entity’s stock to Wyndham Destinations shareholders. In connection with the Spin-off, the Company entered into certain agreements with Wyndham Hotels to implement the legal and structural separation, govern the relationship between the Company and Wyndham Hotels up to and after the completion of the separation, and allocate various assets, liabilities and obligations, including, among other things, employee benefits, intellectual property and tax-related assets and liabilities between the Company and Wyndham Hotels. The two public companies have entered into long-term exclusive license agreements to retain their affiliations with one of the industry’s top-rated loyalty programs, Wyndham Rewards, as well as to continue to collaborate on inventory-sharing and customer cross-sell initiatives. For all periods presented, the Company has classified the results of operations for its hotel business and its European vacation rentals business as discontinued operations. See Note 6 — Discontinued Operations for further details. During 2018, the Company decided to explore strategic alternatives for its North American vacation rentals business and during the fourth quarter commenced activities to facilitate the sale of this business. The assets and liabilities of this business have been classified as held-for-sale as of December 31, 2018. This business does not meet the criteria to be classified as a discontinued operation; therefore, the results were reflected within continuing operations on the Consolidated Statements of Income. See Note 7 — Held-for-Sale Business for further details. Basis of Presentation The Consolidated Financial Statements include the accounts and transactions of Wyndham Destinations, as well as the entities in which Wyndham Destinations directly or indirectly has a controlling financial interest. The Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S.”). All intercompany balances and transactions have been eliminated on the Consolidated Financial Statements. In addition, certain prior period amounts have been reclassified to comply with newly adopted accounting standards. See Note 2 — Summary of Significant Accounting Policies for further details. The Company changed its balance sheet presentation from classified (distinguishing between short-term and long-term accounts) to unclassified in the second quarter of 2018. This change was prompted by the spin-off of Wyndham Hotels at which time the Company became predominantly a timeshare company. This presentation conforms to that of the Company’s peers within the timeshare industry. Both the December 31, 2018 and 2017 Consolidated Balance Sheets have been presented in an unclassified format. In presenting the Consolidated Financial Statements, management makes estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosures. Estimates, by their nature, are based on judgment and available information. Accordingly, actual results could differ from those estimates and assumptions. In management’s opinion, the Consolidated Financial Statements contain all normal recurring adjustments necessary for a fair presentation of annual results reported.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies PRINCIPLES OF CONSOLIDATION When evaluating an entity for consolidation, the Company first determines whether an entity is a variable interest entity (“VIE”). If the entity is deemed to be a VIE, the Company determines whether it would be the entity’s primary beneficiary and consolidates those VIEs for which the Company would be the primary beneficiary. The Company will also consolidate an entity not deemed a VIE upon determination that we have a controlling financial interest. For entities where the Company does not have a controlling financial interest, the investments in such entities are accounted for using the equity or cost method, as appropriate. REVENUE RECOGNITION During 2018 the Company adopted the new Revenue from Contracts with Customers guidance utilizing the full retrospective transition method. Refer to Note 3 — Revenue Recognition for full details of the Company’s revenue recognition policies. CASH AND CASH EQUIVALENTS The Company considers highly-liquid investments purchased with an original maturity of three months or less to be cash equivalents. RESTRICTED CASH The largest portion of the Company’s restricted cash relates to securitizations. The remaining portion is comprised of cash held in escrow accounts. Securitizations. In accordance with the contractual requirements of the Company’s various vacation ownership contract receivable securitizations, a dedicated lockbox account, subject to a blocked control agreement, is established for each securitization. At each month end, the total cash in the collection account from the previous month is analyzed and a monthly servicer report is prepared by the Company, which details how much cash should be remitted to the note holders for principal and interest payments, and any cash remaining is transferred by the trustee back to the Company. Additionally, as required by various securitizations, the Company holds an agreed-upon percentage of the aggregate outstanding principal balances of the VOI contract receivables collateralizing the asset-backed notes in a segregated trust (or reserve) account as credit enhancement. Each time a securitization closes and the Company receives cash from the note holders, a portion of the cash is deposited in the reserve account. As of December 31, 2018 , and 2017, restricted cash for securitizations totaled $120 million and $106 million , respectively. Escrow Deposits. Laws in most U.S. states require the escrow of down payments on VOI sales, with the typical requirement mandating that the funds be held in escrow until the rescission period expires. As sales transactions are consummated, down payments are collected and are subsequently placed in escrow until the rescission period has expired. Depending on the state, the rescission period can be as short as three calendar days or as long as 15 calendar days. In certain states, the escrow laws require that 100% of VOI purchaser funds (excluding interest payments, if any), be held in escrow until the deeding process is complete. Where possible, the Company utilizes surety bonds in lieu of escrow deposits. Similarly, laws in certain U.S. states require the escrow of advance deposits received from guests for vacation rental transactions. Such amounts are required to be held in escrow until the legal restriction expires, which varies from state to state. Escrow deposits were $35 million and $65 million as of December 31, 2018 and 2017 , respectively. RECEIVABLE VALUATION Trade receivables The Company provides for estimated bad debts based on its assessment of the ultimate realizability of receivables, considering historical collection experience, the economic environment and specific customer information. When the Company determines that an account is not collectible, the account is written-off to the allowance for doubtful accounts. The following table illustrates the Company’s allowance for doubtful accounts activity from continuing operations for the year ended December 31: 2018 2017 2016 Beginning balance $ 78 $ 68 $ 70 Bad debt expense 75 51 43 Write-offs (49 ) (42 ) (45 ) Translation and other adjustments — 1 — Ending balance $ 104 $ 78 $ 68 Vacation ownership contract receivables In the Vacation Ownership segment, the Company provides for estimated vacation ownership contract receivable defaults at the time of VOI sales by recording a provision for loan losses as a reduction of VOI sales on the Consolidated Statements of Income. The Company assesses the adequacy of the allowance for loan losses based on the historical performance of similar vacation ownership contract receivables. A technique, referred to as static pool analysis, is used that tracks defaults for each year’s sales over the entire life of those contract receivables. Current defaults, past due aging, historical write-offs of contracts and consumer credit scores, Fair Isaac Corporation (“FICO”), are considered in the assessment of borrower’s credit strength and expected loan performance. The Company also considers whether the historical economic conditions are comparable to current economic conditions. If current or expected future conditions differ from the conditions in effect when the historical experience was generated, the Company adjusts the allowance for loan losses to reflect the expected effects of the current environment on the collectability of vacation ownership contract receivables. INVENTORY Inventory primarily consists of completed VOIs, VOIs under construction, land held for future VOI development, vacation credits and real estate interests sold subject to conditional repurchase. The Company applies the relative sales value method for relieving VOI inventory and recording the related cost of sales. Under the relative sales value method, cost of sales is recorded using a percentage ratio of total estimated development cost to total estimated VOI revenue, including estimated future revenue and incorporating factors such as changes in prices and the recovery of VOIs generally as a result of contract receivable defaults. The effect of such changes in estimates under the relative sales value method is accounted for in each period using a current-period adjustment to inventory and cost of sales. Inventory is stated at the lower of cost, including capitalized interest, property taxes and certain other carrying costs incurred during the construction process, or estimated fair value less costs to sell. Capitalized interest was $1 million , less than $1 million and $1 million in 2018 , 2017 and 2016 , respectively. PROPERTY AND EQUIPMENT Property and equipment (including leasehold improvements) are recorded at cost, and presented net of accumulated depreciation and amortization. Depreciation, recorded as a component of Depreciation and amortization on the Consolidated Statements of Income, is computed utilizing the straight-line method over the lesser of the lease terms or estimated useful lives of the related assets. Amortization of leasehold improvements, also recorded as a component of depreciation and amortization, is computed utilizing the straight-line method over the lesser of the estimated benefit period of the related assets or the lease terms. Useful lives are generally 30 years for buildings, up to 20 years for leasehold improvements, from up to 30 years for vacation rental properties and from 3 to 7 years for furniture, fixtures and equipment. The Company capitalizes the costs of software developed for internal use in accordance with the guidance for accounting for costs of computer software developed or obtained fo r internal use. Capitalization of software costs developed for internal use commences during the development phase of the pro ject. The Company amortizes software developed or obtained for internal use on a straight-line basis over its estimated useful life, which is generally 3 to 5 years, with the exception of certain enterprise resource planning and reservation and inventory management software, which is generally 10 years . Such amortization commences when the software is substantially ready for use. The net carrying value of software developed or obtained for internal use was $166 million and $198 million as of December 31, 2018 and 2017 , respectively. Capitalized interest was $1 million during 2018 and 2017 , respectively, and $3 million during 2016 . DERIVATIVE INSTRUMENTS The Company uses derivative instruments as part of its overall strategy to manage its exposure to market risks primarily associated with fluctuations in foreign currency exchange rates and interest rates. As a matter of policy, the Company does not use derivatives for trading or speculative purposes. All derivatives are recorded at fair value either as assets or liabilities. Changes in fair value of derivatives not designated as hedging instruments and of derivatives designated as fair value hedging instruments are recognized currently in Operating income and net Interest expense, based upon the nature of the hedged item, on the Consolidated Statements of Income. The effective portion of changes in fair value of derivatives designated as cash flow hedging instruments is recorded as a component of other comprehensive income. The ineffective portion is reported immediately in earnings as a component of operating expense, based upon the nature of the hedged item. Amounts included in other comprehensive income are reclassified into earnings in the same period during which the hedged item affects earnings. INCOME TAXES The Company recognizes deferred tax assets and liabilities using the asset and liability method, under which deferred tax assets and liabilities are calculated based upon the temporary differences between the financial statement and income tax bases of assets and liabilities using currently enacted tax rates. These differences are based upon estimated differences between the book and tax basis of the assets and liabilities for the Company as of December 31, 2018 and 2017 . The Company recognizes the effects of changes in tax laws, or rates, as a component of income taxes from continuing operations within the period that includes the enactment date. The Company’s deferred tax assets are recorded net of a valuation allowance when, based on the weight of available evidence, it is more likely than not that some portion or all of the recorded deferred tax assets will not be realized in future periods. Decreases to the valuation allowance are recorded as reductions to the Company’s provision for income taxes and increases to the valuation allowance result in additional provision for income taxes. The realization of the Company’s deferred tax assets, net of the valuation allowance, is primarily dependent on estimated future taxable income. A change in the Company’s estimate of future taxable income may require an addition to or reduction from the valuation allowance. For tax positions the Company has taken or expects to take in a tax return, the Company applies a more likely than not threshold, under which the Company must conclude a tax position is more likely than not to be sustained, assuming that the position will be examined by the appropriate taxing authority that has full knowledge of all relevant information, in order to recognize or continue to recognize the benefit. In determining the Company’s provision for income taxes, the Company uses judgment, reflecting its estimates and assumptions, in applying the more likely than not threshold. The Company classifies interest and penalties associated with unrecognized tax benefits as a component of Provision for income taxes on the Consolidated Statements of Income. During 2018, the Financial Accounting Standards Board (“FASB”) issued guidance on the accounting for tax on the global intangible low-taxed income provisions of the recently enacted tax law. These provisions impose a tax on foreign income in excess of a deemed return on tangible assets of foreign corporations. The guidance indicates that the Company is allowed to make an accounting policy choice of either: (i) treating taxes due on future inclusions in taxable income as a current-period expense when incurred (the “period cost method”) or (ii) factoring such amounts into the Company's measurement of its deferred taxes (the “deferred method”). The Company has elected to account for any potential inclusions under the period cost method. During the fourth quarter of 2018, in accordance with the SEC Staff Accounting Bulletin (“SAB”) No. 118 - Income Tax Accounting Implications of the Tax Cuts and Jobs Act, the Company completed its accounting for the tax effects of the U.S. tax reform recorded for 2017. LOYALTY PROGRAMS The Company earns revenue from its RCI Elite Rewards co–branded credit card program which is primarily generated by cardholder spending and the enrollment of new cardholders. The advance payments received under the program are recognized as a contract liability until the Company’s performance obligations have been satisfied. The program primarily contains two performance obligations: (i) brand performance services, for which revenue is recognized over the contract term on a straight-line basis, and (ii) issuance and redemption of loyalty points, for which revenue is recognized over time based upon the redemption pattern of the loyalty points earned under the program including an estimate of loyalty points that will expire without redemption . Revenues relating to the RCI Elite Rewards program, which are recorded in Other revenues on the Consolidated Statements of Income, amounted to $12 million , $11 million and $12 million during 2018 , 2017 , and 2016 , respectively. Expenses related to this program, which are recorded within Operating expenses on the Consolidated Statements of Income, amounted to $5 million , $6 million , and $6 million during 2018 , 2017 , and 2016 , respectively. The liability associated with the program as of December 31, 2018 and 2017 amounted to $13 million and is included within Deferred income on the Consolidated Balance Sheets. As a result of the spin-off of Wyndham Hotels, the Company has entered into long-term exclusive license agreements to retain its affiliations with one of the industry’s top-rated loyalty programs, Wyndham Rewards. Wyndham Rewards members accumulate points by staying in hotels franchised under one of the Wyndham Hotels brands, and by purchasing everyday services and products utilizing their co-branded credit cards. Members may redeem their points for hotel stays, airline tickets, rental cars, resort vacations, electronics, sporting goods, movie and theme park tickets, gift certificates, vacation ownership maintenance fees and annual membership dues and exchange fees for transactions. ADVERTISING EXPENSE Advertising costs are generally expensed in the period incurred and are recorded within Marketing expense on the Consolidated Statements of Income. Advertising costs were $27 million , $25 million and $31 million in 2018 , 2017 and 2016 , respectively. STOCK-BASED COMPENSATION In accordance with the guidance for stock-based compensation, the Company measures all stock-based compensation awards using a fair value method and records the related expense in its Consolidated Statements of Income. IMPAIRMENT OF LONG-LIVED ASSETS The Company has goodwill and other indefinite-lived intangible assets recorded in connection with business combinations. The Company annually (during the fourth quarter of each year subsequent to completing the Company’s annual forecasting process), or more frequently if circumstances indicate that the value of goodwill may be impaired, reviews the reporting units’ carrying values as required by the guidance for goodwill and other indefinite-lived intangible assets. Under current accounting guidance, goodwill and other intangible assets with indefinite lives are not subject to amortization. However, goodwill and other intangibles with indefinite lives are subject to fair value-based rules for measuring impairment, and resulting write-downs, if any, are reflected in Operating expense. The Company has goodwill recorded at its vacation ownership, exchange, and rentals reporting units. The Company completed its annual goodwill impairment test by performing a qualitative analysis for each of its reporting units as of October 1, 2018 and determined that no impairment exists. The Company also evaluates the recoverability of its other long-lived assets, including property and equipment and amortizable intangible assets, if circumstances indicate impairment may have occurred, pursuant to guidance for impairment or disposal of long-lived assets. This analysis is performed by comparing the respective carrying values of the assets to the current and expected future cash flows, on an undiscounted basis, to be generated from such assets. Property and equipment is evaluated separately within each segment. If such analysis indicates that the carrying value of these assets is not recoverable, the carrying value of such assets is reduced to fair value. ACCOUNTING FOR RESTRUCTURING ACTIVITIES The Company’s restructuring activities require it to make significant estimates in several areas including (i) expenses for severance and related benefit costs, (ii) the ability to generate sublease income, as well as its ability to terminate lease obligations, and (iii) contract terminations. The amount that the Company accrued as of December 31, 2018 represents its best estimate of the obligations incurred in connection with these actions, but could change due to various factors including market conditions and the outcome of negotiations with third parties. OTHER INCOME During 2018 , the Company recorded $38 million of income primarily related to (i) value added tax refunds at its Exchange & Rentals segment, (ii) settlements of various business interruption claims, and (iii) co-branded revenue at its Vacation Ownership segment. During 2017 , the Company recorded $28 million of income primarily related to (i) a non-cash gain resulting from the acquisition of a controlling interest in Love Home Swap at its Exchange & Rentals segment, (ii) settlements of various business interruption claims, and (iii) the sale of non-strategic assets at its Vacation Ownership segment. During 2016 , the Company recorded $21 million of income primarily related to (i) settlements of business disruption claims related to the Gulf of Mexico oil spill in 2010, (ii) settlements of various other business interruption claims received, (iii) the sale of non-strategic assets, and (iv) other miscellaneous royalties at its Vacation Ownership segment. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS Leases. In February 2016, the Financial Accounting Standards Board (“FASB”) issued guidance for lease accounting. The guidance requires a lessee to recognize right-of-use (“ROU”) assets and lease liabilities on the balance sheet for all lease obligations and disclose key information about leasing arrangements, such as the amount, timing, and uncertainty of cash flows arising from leases. The guidance requires modified retrospective application and is effective for fiscal years beginning after December 15, 2018 for public companies; however, early adoption is permitted. Entities are allowed to apply the modified retrospective approach (i) retrospectively to each prior reporting period presented in the financial statements with the cumulative-effect adjustment recognized at the beginning of the earliest comparative period presented or (ii) retrospectively at the beginning of the period of adoption on January 1, 2019, through a cumulative-effect adjustment. The Company will adopt this standard as of January 1, 2019 and will apply the modified retrospective approach on this date by recording a cumulative-effect adjustment. Upon adoption the Company will elect the package of practical expedients permitted under the transition guidance within the new standard, which among other things allows us to carryforward the historical lease classification. The Company will also elect the hindsight practical expedient to determine the reasonably certain lease term for existing leases. The Company will make an accounting policy election to keep leases with an initial term of 12 months or less off of the balance sheet. These lease payments will be recognized in the Consolidated Statements of Income on a straight-line basis over the lease term. As a result of the adoption of this guidance, the Company expects to recognize ROU assets of between $155 million and $165 million , and related lease liabilities of between $195 million and $205 million , as of the effective date of adoption, including reclassifications of tenant improvement allowances and deferred rent balances into ROU assets. The adoption of this standard will not have a material impact related to existing leases, therefore a cumulative-effect adjustment will not be recorded. The Company’s operating lease portfolio is comprised of primarily real estate and equipment leases. The Company does not believe this standard will materially impact its consolidated net income or liquidity, nor does it believe this standard will impact debt covenant compliance under our current agreements. Financial Instruments - Credit Losses . In June 2016, the FASB issued guidance which amends the guidance on measuring credit losses on financial assets held at amortized cost. The guidance requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company is currently evaluating the impact of the adoption of this guidance on its financial statements and related disclosures. Simplifying the Test for Goodwill Impairment . In January 2017, the FASB issued guidance which simplifies the current two-step goodwill impairment test by eliminating Step two of the test. The guidance requires a one-step impairment test in which an entity compares the fair value of a reporting unit with its carrying amount and recognizes an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, if any. This guidance is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years, and should be applied on a prospective basis. Early adoption is permitted for the interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently evaluating the impact of the adoption of this guidance on its financial statements and related disclosures. Stock Compensation - Improvements to Nonemployee Share-Based Payment Accounting. In June 2018, the FASB issued guidance intended to simplify nonemployee share-based payment accounting. This new guidance will more closely align the accounting for share-based payment awards issued to employees and nonemployees. This guidance is effective for fiscal years beginning after December 15, 2018 and for interim periods within those fiscal years, with early adoption permitted. The company does not believe the adoption of this guidance will have a material impact on its financial statements and related disclosures. Implementation Costs in Cloud Computing Arrangements. In August 2018, the FASB issued guidance on implementation costs incurred in a cloud computing arrangement that is a service contract. This guidance aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the guidance on capitalizing costs associated with developing or obtaining internal-use software and also adds certain disclosure requirements related to implementation costs incurred for internal-use software and cloud computing arrangements. This guidance is effective for fiscal years beginning after December 15, 2019 and for interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of the adoption of this guidance on its financial statements and related disclosures. RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS Revenue from Contracts with Customers. In May 2014, the FASB issued guidance on revenue from contracts with customers. The guidance outlined a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The guidance also requires disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company adopted the guidance on January 1, 2018 utilizing the full retrospective transition method with minimal impact on the Company’s continuing operations. The tables below summarize the impact of the adoption of the new revenue standard and reclassifications related to discontinued operations on the Company’s Consolidated Income Statements: For the year ended December 31, 2017 Net revenues Previously Reported Balance Discontinued Operations (a) New Revenue Standard Adjustment As Reported Vacation ownership interest sales $ 1,689 $ — $ (5 ) $ 1,684 Service and membership fees 1,895 (269 ) (27 ) 1,599 Franchise fees 695 (695 ) — — Consumer financing 463 — — 463 Other 334 (297 ) 23 60 Net revenues 5,076 (1,261 ) (9 ) 3,806 Expenses Operating 2,194 (523 ) (35 ) 1,636 Cost of vacation ownership interests 150 — — 150 Consumer financing interest 74 — — 74 Marketing and reservation 773 (247 ) 20 546 General and administrative 648 (75 ) 7 580 Separation and related costs 51 (25 ) — 26 Asset impairments 246 (41 ) — 205 Restructuring 15 (1 ) — 14 Depreciation and amortization 213 (77 ) — 136 Total expenses 4,364 (989 ) (8 ) 3,367 Operating income 712 (272 ) (1 ) 439 Other (income), net (27 ) (1 ) — (28 ) Interest expense 156 (1 ) — 155 Interest (income) (7 ) 1 — (6 ) Income before income taxes 590 (271 ) (1 ) 318 (Benefit) from income taxes (229 ) (101 ) 2 (b) (328 ) Income from continuing operations 819 (170 ) (3 ) 646 Income from operations of discontinued businesses, net of income taxes 53 170 (14 ) 209 Net income 872 — (17 ) 855 Net income attributable to noncontrolling interest (1 ) — — (1 ) Net income attributable to Wyndham Destinations shareholders $ 871 $ — $ (17 ) $ 854 Basic earnings per share Continuing operations $ 7.94 $ (1.65 ) $ (0.03 ) $ 6.26 Discontinued operations 0.52 1.65 (0.14 ) 2.03 $ 8.46 $ — $ (0.17 ) $ 8.29 Diluted earnings per share Continuing operations $ 7.89 $ (1.64 ) $ (0.03 ) $ 6.22 Discontinued operations 0.51 1.64 (0.13 ) 2.02 $ 8.40 $ — $ (0.16 ) $ 8.24 (a) Excludes the impact of the new revenue standard. (b) Includes a $3 million deferred tax provision resulting from a reduction in deferred tax assets recorded in connection with the retrospective adoption of the new revenue standard and the impact of the lower U.S. corporate income tax rate from the enactment of the U.S. Tax Cuts and Jobs Act . For the year ended December 31, 2016 Net revenues Previously Reported Balance Discontinued Operations (a) New Revenue Standard As Reported Vacation ownership interest sales $ 1,606 $ — $ (5 ) $ 1,601 Service and membership fees 1,879 (275 ) (19 ) 1,585 Franchise fees 677 (677 ) — — Consumer financing 440 — — 440 Other 324 (280 ) 22 66 Net revenues 4,926 (1,232 ) (2 ) 3,692 Expenses Operating 2,144 (507 ) (30 ) 1,607 Cost of vacation ownership interests 146 — — 146 Consumer financing interest 75 — — 75 Marketing and reservation 740 (259 ) 18 499 General and administrative 631 (70 ) 7 568 Restructuring 14 (2 ) — 12 Depreciation and amortization 202 (75 ) — 127 Total expenses 3,952 (913 ) (5 ) 3,034 Operating income 974 (319 ) 3 658 Other (income), net (21 ) — — (21 ) Interest expense 133 — — 133 Early extinguishment of debt 11 — — 11 Interest (income) (7 ) — — (7 ) Income before income taxes 858 (319 ) 3 542 Provision for income taxes 313 (124 ) 1 190 Income from continuing operations 545 (195 ) 2 352 Income from operations of discontinued businesses, net of income taxes 67 195 (2 ) 260 Net income 612 — — 612 Net income attributable to noncontrolling interest (1 ) — — (1 ) Net income attributable to Wyndham Destinations shareholders $ 611 $ — $ — $ 611 Basic earnings per share Continuing operations $ 4.96 $ (1.78 ) $ 0.01 $ 3.19 Discontinued operations 0.60 1.78 (0.01 ) 2.37 $ 5.56 $ — $ — $ 5.56 Diluted earnings per share Continuing operations $ 4.93 $ (1.77 ) $ 0.01 $ 3.17 Discontinued operations 0.60 1.77 (0.02 ) 2.35 $ 5.53 $ — $ (0.01 ) (b) $ 5.52 (a) Excludes the impact of the new revenue standard. (b) EPS includes impact of net income attributable to Wyndham Destinations shareholders which rounds to zero . The table below summarizes the impact of the adoption of the new revenue standard on the Company’s Consolidated Balance Sheet: December 31, 2017 Assets Previously Reported Balance Discontinued Operations (a) New Revenue Standard As Reported Cash and cash equivalents $ 100 $ (52 ) $ — $ 48 Restricted cash 173 (2 ) — 171 Trade receivables, net 385 (194 ) 4 195 Vacation ownership contract receivables, net 2,901 — — 2,901 Inventory 1,249 — — 1,249 Prepaid expenses 144 (27 ) 1 118 Property and equipment, net 1,081 (259 ) — 822 Goodwill 1,336 (425 ) — 911 Other intangibles, net 1,084 (941 ) — 143 Other assets 521 (215 ) 22 328 Assets of discontinued operations and held-for-sale business 1,429 2,115 20 3,564 Total assets $ 10,403 $ — $ 47 $ 10,450 Liabilities and Equity Accounts payable $ 256 $ (24 ) $ — $ 232 Deferred income 657 (139 ) 41 559 Accrued expenses and other liabilities 1,094 (236 ) (11 ) 847 Non-recourse vacation ownership debt 2,098 — — 2,098 Debt 3,909 (1 ) — 3,908 Deferred income taxes 790 (191 ) 14 613 Liabilities of discontinued operations and held-for-sale business 716 591 112 1,419 Total liabilities 9,520 — 156 9,676 Stockholders' equity Preferred stock, $.01 par value, authorized 6,000,000 shares, none issued and outstanding — — — — Common stock, $.01 par value, 600,000,000 shares authorized, 218,796,817 issued in 2017 2 — — 2 Treasury stock, at cost – 118,887,441 shares in 2017 (5,719 ) — — (5,719 ) Additional paid-in capital 3,996 — — 3,996 Retained earnings 2,609 — (108 ) 2,501 Accumulated other comprehensive loss (10 ) — (1 ) (11 ) Total stockholders’ equity 878 — (109 ) 769 Noncontrolling interest 5 — — 5 Total equity 883 — (109 ) 774 Total liabilities and equity $ 10,403 $ — $ 47 $ 10,450 (a) Excludes the impact of the new revenue standard. In addition, the cumulative impact to the Company’s retained earnings at January 1, 2016, was a decrease of $91 million . Intra-Entity Transfers of Assets Other Than Inventory . In October 2016, the FASB issued guidance which requires companies to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The Company adopted the guidance on January 1, 2018, utilizing the modified retrospective approach, resulting in a cumulative-effect reduction to retained earnings of $19 million . Reporting Comprehensive Income - Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. In February 2018, the FASB issued guidance which allows for the reclassification of the stranded tax effects resulting from the implementation of the Tax Cuts and Jobs Act of 2017 from accumulated other comprehensive income (“AOCI”) to retained earnings. The Company early adopted this guidance in 2018 resulting in an $8 million reclassification from AOCI to Retained Earnings recorded in the period of adoption. The Company's policy for releasing disproportionate income tax effects from AOCI utilizes the aggregate approach. Derivatives and Hedging - Targeted Improvements to Accounting for Hedging Activities. In August 2017, the FASB issued guidance which better aligns an entity’s risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. The guidance expanded and refined hedge accounting for both non-financial and financial risk components and aligned the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. The Company early adopted this guidance in the fourth quarter of 2018 resulting in an immaterial impact to the Consolidated Financial Statements and related disclosures. Clarifying the Definition of a Business . In January 2017, the FASB issued guidance clarifying t

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Vacation Ownership The Company develops, markets and sells VOIs to individual consumers, provides property management services at resorts and provides consumer financing in connection with the sale of VOIs. The Company’s sales of VOIs are either cash sales or developer-financed sales. Developer financed sales are typically collateralized by the underlying VOI. Revenue is recognized on VOI sales upon transfer of control, which is defined as the point in time when a binding sales contract has been executed, the financing contract has been executed for the remaining transaction price, the statutory rescission period has expired and the transaction price has been deemed to be collectible. For developer-financed sales, the Company reduces the VOI sales transaction price by an estimate of uncollectible consideration at the time of the sale. The Company’s estimates of uncollectible amounts are based largely on the results of the Company’s static pool analysis which relies on historical payment data by customer class. In connection with entering into a VOI sale, the Company may provide its customers with certain non-cash incentives, such as credits for future stays at its resorts. For those VOI sales, the Company bifurcates the sale and allocates the sales price between the VOI sale and the non-cash incentive. Non-cash incentives generally have expiration periods of 18 months or less and are recognized at a point in time upon transfer of control. The Company provides day-to-day property management services including oversight of housekeeping services, maintenance and certain accounting and administrative services for property owners’ associations and clubs. These services may also include reservation and resort renovation activities. Such agreements are generally for terms of one year or less, and are renewed automatically on an annual basis. The Company’s management agreements contain cancellation clauses, which allow for either party to cancel the agreement, by either a majority board vote or a majority vote of non-developer interests. The Company receives fees for such property management services which are collected monthly in advance and are based upon total costs to operate such resorts (or as services are provided in the case of resort renovation activities). Fees for property management services typically approximate 10% of budgeted operating expenses. The Company is entitled to consideration for reimbursement of costs incurred on behalf of the property owners’ association in providing the management services (“reimbursable revenue”). These reimbursable costs principally relate to the payroll costs for management of the associations, club and resort properties where the Company is the employer and are reflected as a component of Operating expenses on the Consolidated Statements of Income. The Company reduces its management fees for amounts it has paid to the property owners’ association that reflect maintenance fees for VOIs for which it retains ownership, as the Company has concluded that such payments are consideration payable to a customer. Property management fee revenues are recognized when the services are performed and are recorded as a component of Service and membership fees on the Consolidated Statements of Income. Property management revenues, which are comprised of management fee revenue and reimbursable revenue, were $665 million , $649 million and $623 million during 2018 , 2017 and 2016 , respectively. Management fee revenues were $314 million , $285 million and $273 million during 2018 , 2017 and 2016 , respectively. Reimbursable revenues were $351 million , $364 million and $350 million during 2018 , 2017 and 2016 , respectively. Exchange & Rentals As a provider of vacation exchange services, the Company enters into affiliation agreements with developers of vacation ownership properties to allow owners of VOIs to trade their intervals for intervals at other properties affiliated with the Company’s vacation exchange brands and, for some members, for other leisure-related services and products. Additionally, as a marketer of vacation rental properties, generally the Company enters into contracts for exclusive periods of time with property owners to market the rental of such properties to rental customers. The Company’s vacation exchange brands derive a majority of revenues from membership dues and fees for facilitating members’ trading of their intervals. Revenues from membership dues represent the fees paid by members or affiliated clubs on their behalf. The Company recognizes revenues from membership dues paid by the member on a straight-line basis over the membership period as the performance obligations are fulfilled by providing access to travel-related products and services. Consideration paid by affiliated clubs for memberships are recognized as revenue over the term of the contract with the affiliated club in proportion to the estimated average monthly member count. Such estimates are adjusted periodically for changes in the actual and forecasted member activity. For additional fees, members have the right to exchange their intervals for intervals at other properties affiliated with the Company’s vacation exchange networks and, for certain members, for other leisure-related services and products. Fees for facilitating exchanges are recognized as revenue, net of expected cancellations, when these transactions have been confirmed to the member. The Company’s vacation exchange brands also derive revenues from: (i) additional services, programs with affiliated resorts, club servicing and loyalty programs and (ii) additional exchange-related products that provide members with the ability to protect trading power or points, extend the life of deposits, and combine two or more deposits for the opportunity to exchange into intervals with higher trading power. Other vacation exchange related product fees are deferred and recognized as revenue upon the occurrence of a future exchange, other related transaction or event. The Company earns revenue from its RCI Elite Rewards co–branded credit card program which is primarily generated by cardholder spending and the enrollment of new cardholders. The advance payments received under the program are recognized as a contract liability until the Company’s performance obligations have been satisfied. The program primarily contains two performance obligations: (i) brand performance services, for which revenue is recognized over the contract term on a straight-line basis, and (ii) issuance and redemption of loyalty points, for which revenue is recognized over time based upon the redemption pattern of the loyalty points earned under the program including an estimate of loyalty points that will expire without redemption . The Company’s vacation rental brands derive revenue from fees associated with the rental of vacation rental properties managed and marketed by the Company on behalf of independent owners. The Company remits the rental fee received from the renter to the independent owner, net of the Company’s agreed-upon fee. The related revenue from such fees, net of expected refunds, is recognized over the renter’s stay. The Company’s vacation rental brands also derive revenues from additional services delivered to independent owners, vacation rental guests, and property owners’ associations that are generally recognized when the service is delivered. Other Items The Company records property management services revenues and RCI Elite Rewards revenues for its Vacation Ownership and Exchange & Rentals segments in accordance with the guidance for reporting revenues gross as a principal versus net as an agent, which requires that these revenues be recorded on a gross basis. Contract Liabilities Contract liabilities generally represent payments or consideration received in advance for goods or services that the Company has not yet transferred to the customer. Contract liabilities as of December 31, 2018 and 2017 are as follows: Contract Liabilities 2018 2017 Deferred subscription revenue $ 220 $ 229 Deferred VOI trial package revenue 125 108 Deferred VOI incentive revenue 96 102 Deferred exchange-related revenue (a) 56 63 Deferred vacation rental revenue (b) — 38 Deferred co-branded credit card programs revenue 14 13 Deferred other revenue 8 3 Total $ 519 $ 556 (a) Balance includes contractual liabilities to accommodate members for cancellations initiated by the Company due to unexpected events. These amounts are included within Accrued expenses and other liabilities on the Consolidated Balance Sheet. (b) There is $42 million of deferred vacation rental revenue which is included in Liabilities of discontinued operations and held-for-sale business on the Consolidated Balance Sheet for 2018. In the Company’s vacation ownership business, deferred VOI trial package revenue represents consideration received in advance for a trial VOI, which allows customers to utilize a vacation package typically within one year of purchase. Deferred VOI incentive revenue represents payments received in advance for additional travel-related services and products at the time of a VOI sale. Revenue is recognized when a customer utilizes the additional services and products, which is typically within one year of the VOI sale. Within the Company’s vacation exchange business, deferred subscription revenue represents billings and payments received in advance from members and affiliated clubs for memberships in the Company’s vacation exchange programs which are recognized in future periods. Deferred exchange-related revenue primarily represent payments received in advance from members for the right to exchange their intervals for intervals at other properties affiliated with the Company’s vacation exchange networks and for other leisure-related services and products which are generally recognized as revenue within one year . In the Company's vacation rentals business, deferred vacation rental revenue represent billings and payments received in advance of a customer’s rental stay which are generally recognized as revenue within one year . Changes in Contract Liabilities follow: Amount Contract Liabilities as of December 31, 2017 $ 556 Additions 352 Revenue recognized (341 ) Held-for-sale (38 ) Other (10 ) Contract Liabilities as of December 31, 2018 $ 519 Capitalized Contract Costs The Company’s vacation ownership business incurs certain direct and incremental selling costs in connection with VOI trial package and incentive revenues. Such costs are capitalized and subsequently amortized over the utilization period, which is typically within one year of the sale. As of December 31, 2018 and 2017 , these capitalized costs were $45 million and $44 million , respectively, and are included within Other assets on the Consolidated Balance Sheet. The Company’s vacation exchange and vacation rentals businesses incur certain direct and incremental selling costs to obtain contracts with customers in connection with subscription revenues, exchange–related revenues, and vacation rental revenues. Such costs, which are primarily comprised of commissions paid to internal and external parties and credit card processing fees, are deferred at the inception of the contract and recognized when the benefit is transferred to the customer. As of December 31, 2018 and 2017 , these capitalized costs were $22 million and $13 million , respectively. Practical Expedients The Company has not adjusted the consideration for the effects of a significant financing component if it expected, at contract inception, that the period between when the Company satisfied the performance obligation and when the customer paid for that good or service was one year or less. For contracts with customers that were modified before the beginning of the earliest reporting period presented, the Company did not retrospectively restate the revenue associated with the contract for those modifications. Instead, it reflected the aggregate effect of all prior modifications in determining (i) the performance obligations and transaction prices and (ii) the allocation of such transaction prices to the performance obligations. Performance Obligations A performance obligation is a promise in a contract with a customer to transfer a distinct good or service to the customer. The consideration received from a customer is allocated to each distinct performance obligation and recognized as revenue when, or as, each performance obligation is satisfied. The following table summarizes the remaining performance obligations of the Company’s continuing operations for the twelve month periods set forth below: 2019 2020 2021 Thereafter Total Subscription revenue $ 123 $ 53 $ 24 $ 20 $ 220 VOI trial package revenue 125 — — — 125 VOI incentive revenue 96 — — — 96 Exchange-related revenue 52 2 1 1 56 Co-branded credit card programs revenue 7 4 2 1 14 Other revenue 8 — — — 8 Total $ 411 $ 59 $ 27 $ 22 $ 519 Disaggregation of Net Revenues 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: Year Ended December 31, 2018 2017 2016 Vacation Ownership Vacation ownership interest sales $ 1,769 $ 1,684 $ 1,601 Property management fees and reimbursable revenues 665 649 623 Consumer financing 491 463 440 Fee-for-Service commissions 31 24 46 Ancillary revenues 60 61 64 Total Vacation Ownership 3,016 2,881 2,774 Exchange & Rentals Exchange revenues 658 671 665 Vacation rental revenues 170 172 169 Ancillary revenues 90 84 82 Total Exchange & Rentals 918 927 916 Corporate and other Eliminations (3 ) (2 ) 2 Net revenues $ 3,931 $ 3,806 $ 3,692

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2018
Earnings Per Share Reconciliation [Abstract]
Earnings Per Share	Earnings Per Share The computation of basic and diluted earnings per share (“EPS”) is based on net income attributable to shareholders divided by the basic weighted average number of common shares and diluted weighted average number of common shares, respectively. The following table sets forth the computation of basic and diluted EPS (in millions, except per share data): Year Ended December 31, 2018 2017 2016 Income from continuing operations attributable to Wyndham Destinations shareholders $ 266 $ 645 $ 351 (Loss)/income from operations of discontinued businesses, net of income taxes (50 ) 209 260 Income on disposal of discontinued business, net of income taxes 456 — — Net income attributable to Wyndham Destinations shareholders $ 672 $ 854 $ 611 Basic earnings per share Continuing operations $ 2.69 $ 6.26 $ 3.19 Discontinued operations 4.11 2.03 2.37 $ 6.80 $ 8.29 $ 5.56 Diluted earnings per share Continuing operations $ 2.68 $ 6.22 $ 3.17 Discontinued operations 4.09 2.02 2.35 $ 6.77 $ 8.24 $ 5.52 Basic weighted average shares outstanding 98.9 103.0 109.9 Stock-settled appreciation rights (“SSARs”), RSUs (a) and PSUs (b) 0.3 0.7 0.7 Diluted weighted average shares outstanding 99.2 103.7 110.6 Dividends: Cash dividends per share (c) $ 1.89 $ 2.32 $ 2.00 Aggregate dividends paid to shareholders $ 194 $ 242 $ 223 (a) Excludes 1 million of restricted stock units (“RSUs”) for the year 2016 , which would have been anti-dilutive to EPS. Includes unvested dilutive RSUs which are subject to future forfeitures. (b) As a result of the spin-off of Wyndham Hotels, the Company accelerated the vesting of PSUs. There were no outstanding PSUs as of 2018 . Excludes performance vested restricted stock units (“PSUs”) of 0.5 million and 0.6 million for the years 2017 and 2016 , respectively, as the Company had not met the required performance metrics. (c) For the quarterly period ended March 31, 2018 the Company paid cash dividends of $0.66 , in each of the following periods ended June 30, September 30 and December 31, 2018 , the Company paid cash dividends of $0.41 . For each of the quarterly periods in 2017 and 2016 , the Company paid cash dividends of $0.58 and $0.50 per share, respectively. Share Repurchase Program As of December 31, 2018 , the total authorization under the Company’s current share repurchase program was $6.0 billion , of which $816 million remains available. Proceeds received from stock option exercises have increased the repurchase capacity by $78 million since the inception of this program. The following table summarizes stock repurchase activity under the current share repurchase program (in millions, except per share data): Shares Cost Average Price Per Share As of December 31, 2017 94.4 $ 4,938 $ 52.32 Repurchases prior to spin-off of Wyndham Hotels 0.9 103 114.89 Repurchases after spin-off of Wyndham Hotels 5.3 221 41.31 As of December 31, 2018 100.6 $ 5,262

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2018
Business Combinations [Abstract]
Acquistions	Acquisitions Assets acquired and liabilities assumed in business combinations were recorded on the Consolidated Balance Sheets as of the respective acquisition dates based upon their estimated fair values at such dates. The results of operations of businesses acquired by the Company have been included in the Consolidated Statements of Income since their respective dates of acquisition. The excess of the purchase price over the estimated fair values of the underlying assets acquired and liabilities assumed was allocated to goodwill. In certain circumstances, the allocations of the excess purchase price are based upon preliminary estimates and assumptions. Accordingly, the allocations may be subject to revision when the Company receives final information, including appraisals and other analyses. Any revisions to the fair values during the measurement period will be recorded by the Company as further adjustments to the purchase price allocations. Although, in certain circumstances, the Company has substantially integrated the operations of its acquired businesses, additional future costs relating to such integration may occur. These costs may result from integrating operating systems, relocating employees, closing facilities, reducing duplicative efforts and exiting and consolidating other activities. These costs will be recorded on the Consolidated Statements of Income as expenses. 2018 ACQUISITIONS La Quinta Holdings Inc. (“La Quinta”). In January 2018, the Company entered into an agreement with La Quinta to acquire its hotel franchising and management businesses for $1.95 billion . At the time we entered into this agreement, we obtained financing commitments of $2.0 billion in the form of an unsecured bridge term loan, which was subsequently replaced with net cash proceeds from the issuance of $500 million unsecured notes, a $1.6 billion term loan and a $750 million revolving credit facility, which was undrawn . This acquisition closed on May 30, 2018, prior to the hotel business spin-off on May 31, 2018. Upon completion of the Spin-off, La Quinta became a wholly-owned subsidiary of Wyndham Hotels and the associated debt was transferred to Wyndham Hotels. Other. During 2018, the Company completed one other acquisition at its Exchange & Rentals segment for $5 million in cash, net of cash acquired. The preliminary purchase price allocations resulted primarily in the recognition of (i) $4 million of definite-lived intangible assets with a weighted average life of 21 years, (ii) $1 million of goodwill, none of which is expected to be deductible for tax purposes, (iii) less than $1 million in other assets, and (iv) less than $1 million of liabilities. 2017 ACQUISITIONS Love Home Swap. During July 2017, the Company acquired a controlling interest in Love Home Swap, a United Kingdom home exchange company. The Company had convertible notes which, at the time of acquisition, it converted into a 47% equity ownership interest in Love Home Swap and purchased the remaining 53% of equity for $28 million , net of cash acquired. As a result, the Company recognized a non-cash gain of $ 13 million , net of transaction costs, resulting from the re-measurement of the carrying value of the Company’s 47% ownership interest to its fair value. The purchase price allocations resulted primarily in the recognition of (i) $48 million of goodwill, none of which was deductible for tax purposes, (ii) $6 million of trademarks, (iii) $5 million of other assets and (iv) $6 million of liabilities, all of which were assigned to the Company’s Exchange & Rentals segment. DAE Global Pty Ltd. During October 2017, the Company completed the acquisition of DAE Global Pty, Ltd, an Australian vacation exchange company, and Work International, a related software company, for a total purchase price of $21 million , net of cash acquired. These acquisitions complement the Company’s existing Exchange & Rentals segment. The purchase price allocation resulted in the recognition of (i) $11 million of definite-lived intangible assets, with a weighted average life of 10 years, (ii) $8 million of goodwill, none of which was deductible for tax purposes, (iii) $5 million of other assets, (iv) $3 million of property and equipment, and (v) $6 million of liabilities, all of which were assigned to the Company’s Exchange & Rentals segment. Other. During 2017, the Company completed one other acquisition at its Exchange & Rentals segment for $5 million in cash, net of cash acquired. The preliminary purchase price allocations resulted primarily in the recognition of (i) $12 million in other assets, (ii) $3 million of goodwill, all of which is expected to be deductible for tax purposes, (iii) $1 million of definite-lived intangible assets with a life of 12 years and (iv) $11 million of liabilities. The Company completed four other acquisitions, which are included in discontinued operations, for $151 million in cash, net of cash acquired, and $1 million of contingent consideration. 2016 ACQUISITIONS Other. During 2016 the Company completed four acquisitions for a total of $21 million , net of cash acquired. The Company’s Exchange & Rentals segment completed two acquisitions for $2 million , net of cash acquired. The Company’s Vacation Ownership segment also completed two acquisitions for $19 million . The preliminary purchase price allocations resulted primarily in the recognition of $15 million of property and equipment and $4 million of inventory. Additionally, the Company completed five other acquisitions, which are included in discontinued operations, for $113 million in cash, net of cash acquired, and $10 million of contingent consideration.

Discontinued Operations

Discontinued Operations	12 Months Ended
	Dec. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations On May 9, 2018, the Company completed the previously announced sale of its European vacation rentals business to Compass IV Limited, an affiliate of Platinum Equity, LLC (the “Buyer”). Final net proceeds received were $1.06 billion , including the fourth quarter 2018 release of the escrow deposit ( $46 million ) in exchange for a secured bonding facility and a perpetual guarantee of $46 million and the January 2019 agreement with the Buyer on certain post-closing adjustments ( $27 million ). The final after-tax gain on the sale to $456 million , net of $139 million in taxes. Guarantees and indemnifications provided to the seller are discussed in Note 27 — Transactions with Former Parent and Former Subsidiaries . On May 31, 2018, the Company completed the spin-off of its hotel business. This transaction was effected through a pro rata distribution of the new hotel entity’s stock to existing Wyndham Destinations shareholders. This Spin-off included the newly-acquired La Quinta businesses as discussed in Note 5 — Acquisitions . In addition, during the second quarter the Company sold its Knights Inn brand and franchise system for $27 million , resulting in a $23 million gain. For all periods presented, the Company has classified the results of operations for its hotel business and the European vacation rentals business as discontinued operations in its consolidated financial statements and related notes. Discontinued operations include direct expenses clearly identifiable to the businesses being discontinued. The Company does not expect to incur significant ongoing expenses classified as discontinued operations except for certain tax adjustments that may be required as final tax returns are completed. Discontinued operations exclude the allocation of corporate overhead and interest. Discontinued operations included $111 million and 40 million of separation and related costs during 2018 and 2017, respectively. Prior to the spin-off of the hotel business, the Company had three reportable segments: Vacation Ownership, Destination Network and Hotel Group. Prior to its classification as a discontinued operation, the European vacation rentals business was part of the Destination Network segment and the hotel business comprised the Hotel Group segment. Following the spin-off of the hotel business, the Company changed the structure of its internal organization which caused the composition of its reportable segments to change. The Company now has two reportable segments: Vacation Ownership and Exchange & Rentals as discussed in Note 23 — Segment Information . The following table presents the aggregate carrying amounts of the classes of assets and liabilities of discontinued operations: December 31, 2017 Assets Cash and cash equivalents $ 184 Restricted cash 12 Trade receivables, net 493 Property and equipment, net 609 Goodwill 855 Other intangibles, net 1,059 Other assets 352 Total assets of discontinued operations $ 3,564 Liabilities Accounts payable $ 358 Deferred income 436 Accrued expenses and other liabilities 556 Debt 69 Total liabilities of discontinued operations $ 1,419 The results of our discontinued businesses reflect the adoption of the new revenue recognition standard. For the hotel business, the adoption of the standard required initial fees to be recognized ratably over the life of the noncancelable period of the franchise agreement and incremental upfront contract costs to be deferred and expensed over the life of the noncancelable period of the franchise agreement. For the European vacation rentals business, the adoption of the standard required revenue from rentals to be recognized over the renters’ stay, which is the period over which the service is rendered. Loyalty revenues were deferred and primarily recognized over the loyalty points’ redemption pattern. Additionally, a liability is no longer accrued for future marketing and reservation costs when marketing and reservation revenues earned exceed costs incurred. Marketing and reservation costs incurred in excess of revenues earned were expensed as incurred. The following table presents information regarding certain components of income from discontinued operations, net of income taxes: Year Ended December 31, 2018 2017 2016 Net revenues $ 720 $ 2,022 $ 1,930 Expenses: Operating 343 874 810 Marketing and reservation 200 434 428 General and administrative 71 171 160 Separation and related costs 111 40 — Asset impairments — 41 7 Depreciation and amortization 52 130 125 Total expenses 777 1,690 1,530 Interest expense — 3 3 Interest (income) — (3 ) (1 ) Other (income), net — — (2 ) (Benefit)/provision for income taxes (7 ) 123 140 (Loss)/income from operations of discontinued businesses, net of income taxes (50 ) 209 260 Income on disposal of discontinued business, net of income taxes 456 — — Income on discontinued operations, net of income taxes $ 406 $ 209 $ 260 The following table presents information regarding certain components of cash flows from discontinued operations: Year Ended December 31, 2018 2017 2016 Cash flows provided by operating activities $ 150 $ 486 $ 522 Cash flows (used in) investing activities (626 ) (211 ) (206 ) Cash flows provided by/(used in) financing activities 2,066 (22 ) (12 ) Non-cash items: Depreciation and amortization 52 131 125 Stock-based compensation 22 11 11 Deferred income taxes (23 ) (11 ) 24 Property and equipment additions (38 ) (81 ) (73 ) Net assets of business acquired, net of cash acquired (1,696 ) (142 ) (112 ) Proceeds from sale of businesses and asset sales 1,099 9 — Held-for-Sale Business During 2018, the Company decided to explore strategic alternatives for its North American vacation rentals business and during the fourth quarter commenced activities to facilitate the sale of this business. The assets and liabilities of this business have been classified as held-for-sale as of December 31, 2018. The business does not meet the criteria to be classified as a discontinued operation; therefore, the results were reflected within continuing operations on the Consolidated Statements of Income. This business is currently part of the Exchange & Rentals segment. Total assets of this business at December 31, 2018 were $203 million including $31 million Restricted cash, $82 million Trade receivables, net, $42 million Goodwill and other intangibles, net and $35 million Property & equipment, net. Total liabilities of this business at December 31, 2018 were $165 million including $87 million Accounts payable, $42 million Deferred income and $27 million Accrued expenses and other liabilities.

Held-for Sale Business

Held-for Sale Business	12 Months Ended
	Dec. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Held-for Sale Business	Discontinued Operations On May 9, 2018, the Company completed the previously announced sale of its European vacation rentals business to Compass IV Limited, an affiliate of Platinum Equity, LLC (the “Buyer”). Final net proceeds received were $1.06 billion , including the fourth quarter 2018 release of the escrow deposit ( $46 million ) in exchange for a secured bonding facility and a perpetual guarantee of $46 million and the January 2019 agreement with the Buyer on certain post-closing adjustments ( $27 million ). The final after-tax gain on the sale to $456 million , net of $139 million in taxes. Guarantees and indemnifications provided to the seller are discussed in Note 27 — Transactions with Former Parent and Former Subsidiaries . On May 31, 2018, the Company completed the spin-off of its hotel business. This transaction was effected through a pro rata distribution of the new hotel entity’s stock to existing Wyndham Destinations shareholders. This Spin-off included the newly-acquired La Quinta businesses as discussed in Note 5 — Acquisitions . In addition, during the second quarter the Company sold its Knights Inn brand and franchise system for $27 million , resulting in a $23 million gain. For all periods presented, the Company has classified the results of operations for its hotel business and the European vacation rentals business as discontinued operations in its consolidated financial statements and related notes. Discontinued operations include direct expenses clearly identifiable to the businesses being discontinued. The Company does not expect to incur significant ongoing expenses classified as discontinued operations except for certain tax adjustments that may be required as final tax returns are completed. Discontinued operations exclude the allocation of corporate overhead and interest. Discontinued operations included $111 million and 40 million of separation and related costs during 2018 and 2017, respectively. Prior to the spin-off of the hotel business, the Company had three reportable segments: Vacation Ownership, Destination Network and Hotel Group. Prior to its classification as a discontinued operation, the European vacation rentals business was part of the Destination Network segment and the hotel business comprised the Hotel Group segment. Following the spin-off of the hotel business, the Company changed the structure of its internal organization which caused the composition of its reportable segments to change. The Company now has two reportable segments: Vacation Ownership and Exchange & Rentals as discussed in Note 23 — Segment Information . The following table presents the aggregate carrying amounts of the classes of assets and liabilities of discontinued operations: December 31, 2017 Assets Cash and cash equivalents $ 184 Restricted cash 12 Trade receivables, net 493 Property and equipment, net 609 Goodwill 855 Other intangibles, net 1,059 Other assets 352 Total assets of discontinued operations $ 3,564 Liabilities Accounts payable $ 358 Deferred income 436 Accrued expenses and other liabilities 556 Debt 69 Total liabilities of discontinued operations $ 1,419 The results of our discontinued businesses reflect the adoption of the new revenue recognition standard. For the hotel business, the adoption of the standard required initial fees to be recognized ratably over the life of the noncancelable period of the franchise agreement and incremental upfront contract costs to be deferred and expensed over the life of the noncancelable period of the franchise agreement. For the European vacation rentals business, the adoption of the standard required revenue from rentals to be recognized over the renters’ stay, which is the period over which the service is rendered. Loyalty revenues were deferred and primarily recognized over the loyalty points’ redemption pattern. Additionally, a liability is no longer accrued for future marketing and reservation costs when marketing and reservation revenues earned exceed costs incurred. Marketing and reservation costs incurred in excess of revenues earned were expensed as incurred. The following table presents information regarding certain components of income from discontinued operations, net of income taxes: Year Ended December 31, 2018 2017 2016 Net revenues $ 720 $ 2,022 $ 1,930 Expenses: Operating 343 874 810 Marketing and reservation 200 434 428 General and administrative 71 171 160 Separation and related costs 111 40 — Asset impairments — 41 7 Depreciation and amortization 52 130 125 Total expenses 777 1,690 1,530 Interest expense — 3 3 Interest (income) — (3 ) (1 ) Other (income), net — — (2 ) (Benefit)/provision for income taxes (7 ) 123 140 (Loss)/income from operations of discontinued businesses, net of income taxes (50 ) 209 260 Income on disposal of discontinued business, net of income taxes 456 — — Income on discontinued operations, net of income taxes $ 406 $ 209 $ 260 The following table presents information regarding certain components of cash flows from discontinued operations: Year Ended December 31, 2018 2017 2016 Cash flows provided by operating activities $ 150 $ 486 $ 522 Cash flows (used in) investing activities (626 ) (211 ) (206 ) Cash flows provided by/(used in) financing activities 2,066 (22 ) (12 ) Non-cash items: Depreciation and amortization 52 131 125 Stock-based compensation 22 11 11 Deferred income taxes (23 ) (11 ) 24 Property and equipment additions (38 ) (81 ) (73 ) Net assets of business acquired, net of cash acquired (1,696 ) (142 ) (112 ) Proceeds from sale of businesses and asset sales 1,099 9 — Held-for-Sale Business During 2018, the Company decided to explore strategic alternatives for its North American vacation rentals business and during the fourth quarter commenced activities to facilitate the sale of this business. The assets and liabilities of this business have been classified as held-for-sale as of December 31, 2018. The business does not meet the criteria to be classified as a discontinued operation; therefore, the results were reflected within continuing operations on the Consolidated Statements of Income. This business is currently part of the Exchange & Rentals segment. Total assets of this business at December 31, 2018 were $203 million including $31 million Restricted cash, $82 million Trade receivables, net, $42 million Goodwill and other intangibles, net and $35 million Property & equipment, net. Total liabilities of this business at December 31, 2018 were $165 million including $87 million Accounts payable, $42 million Deferred income and $27 million Accrued expenses and other liabilities.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible assets consisted of: As of December 31, 2018 As of December 31, 2017 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Unamortized Intangible Assets: Goodwill $ 922 $ 911 Trademarks (a) $ 51 $ 47 Amortized Intangible Assets: Management agreements (b) $ 45 $ 24 $ 21 $ 110 $ 48 $ 62 Trademarks (c) 4 4 — 7 5 2 Other (d) 51 14 37 45 13 32 $ 100 $ 42 $ 58 $ 162 $ 66 $ 96 (a) Comprised of various trademarks that the Company has acquired. These trademarks are expected to generate future cash flows for an indefinite period of time. (b) Generally amortized over a period ranging from 10 to 20 years with a weighted average life of 15 years . (c) Generally amortized over a period of 3 to 20 years with a weighted average life of 7 years . (d) Includes customer lists and business contracts, generally amortized over a period ranging from 3 to 15 years , however, during 2018 we obtained new licensing agreements outside of this range, bringing our weighted average life to 22 years . Goodwill During the fourth quarters of 2018 , 2017 and 2016 , the Company performed its annual goodwill impairment test and determined no impairment existed as the fair value of goodwill at its reporting units was in excess of the carrying value. The changes in the carrying amount of goodwill are as follows: Balance as of December 31, 2017 Adjustments to Goodwill Acquired During 2017 Adjustments to Goodwill During 2018 Foreign Exchange Balance as of December 31, 2018 Vacation Ownership $ 27 $ — $ — $ — $ 27 Exchange & Rentals 884 (4 ) 23 (a) (8 ) 895 Total Company $ 911 $ (4 ) $ 23 $ (8 ) $ 922 (a) Includes $30 million reclassification from discontinued to continuing operations due to reallocation of goodwill which was triggered by segment reassessment resulting from the sale of European vacation rentals; and $7 million reclass of goodwill related to held-for-sale business. Amortization expense relating to amortizable intangible assets is included as a component of Depreciation and amortization on the Consolidated Statements of Income, and was as follows: 2018 2017 2016 Management agreements $ 8 $ 8 $ 8 Other 4 3 3 Total $ 12 $ 11 $ 11 Based on the Company’s amortizable intangible assets as of December 31, 2018 , the Company expects related amortization expense as follows: Amount (a) 2019 $ 7 2020 6 2021 6 2022 6 2023 6 (a) Amortization schedule excludes expense associated with intangible assets of the Company’s held-for-sale business of $6 million in 2019, $5 million in 2020 through 2022, and $3 million in 2023.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes On December 22, 2017 the U.S. enacted the Tax Cuts and Jobs Act, which is also commonly referred to as ‘‘U.S. tax reform’’, and significantly changed U.S. corporate income tax laws by reducing the U.S. corporate income tax rate from 35.0% to 21.0% starting in 2018, and imposing a one-time mandatory deemed repatriation tax on undistributed historic earnings of foreign subsidiaries. Other provisions of the law were not effective until January 1, 2018 and include, but are not limited to, creating a territorial tax system which generally eliminates U.S. federal income taxes on dividends from foreign subsidiaries, eliminating or limiting the deduction of certain expenses, and imposing a minimum tax on earnings generated by foreign subsidiaries. As of December 31, 2017, the Company had made a reasonable estimate for (i) the remeasurement of the Company’s net deferred income tax and uncertain tax liabilities based on the new reduced U.S. corporate income tax rate, and (ii) the one-time deemed repatriation tax on our undistributed historic earnings of foreign subsidiaries. In other cases, the Company had not been able to make a reasonable estimate and continues to account for those items based on our existing accounting under generally accepted accounting principles (“GAAP”) and the provisions of the tax laws that were in effect prior to enactment. One such case was the Company’s intent regarding whether to continue to assert indefinite reinvestment on a part or all of the undistributed foreign earnings. During the fourth quarter of 2018, in accordance with the SEC Staff Accounting Bulletin (“SAB”) No. 118 - Income Tax Accounting Implications of the Tax Cuts and Jobs Act, the Company completed its accounting for the tax effects of the U.S. tax reform recorded for 2017. The following table presents the impact of the accounting for the enactment of U.S. tax reform on our provision/benefit for income taxes for the years ended December 31, 2018 and 2017: 2018 2017 Remeasurement of net deferred income tax and uncertain tax liabilities $ (24 ) $ (463 ) One-time mandatory repatriation tax on undistributed historic earnings of foreign subsidiaries 8 42 Valuation allowance established for the impact of the law on certain tax attributes (13 ) 14 Net (benefit) for income taxes impact $ (29 ) $ (407 ) Although the one-time mandatory deemed repatriation tax during 2017 and the territorial tax system created as a result of U.S. tax reform generally eliminate U.S. federal income taxes on dividends from foreign subsidiaries, the Company continues to assert that all of the undistributed foreign earnings of $654 million will be reinvested indefinitely as of December 31, 2018. In the event the Company determines not to continue to assert that all or part of its undistributed foreign earnings are permanently reinvested, such a determination in the future could result in the accrual and payment of additional foreign withholding taxes, as well as, U.S. taxes on currency transaction gains and losses, the determination of which is not practicable. The income tax provision consists of the following for the year ended December 31: 2018 2017 2016 Current Federal $ (24 ) $ 29 $ 85 State (6 ) 6 5 Foreign 38 34 28 8 69 118 Deferred Federal 77 (392 ) 62 State 44 (3 ) 14 Foreign 1 (2 ) (4 ) 122 (397 ) 72 Provision/(benefit) for income taxes $ 130 $ (328 ) $ 190 Pre-tax income for domestic and foreign operations consisted of the following for the year ended December 31: 2018 2017 2016 Domestic $ 258 $ 343 $ 462 Foreign 138 (25 ) 80 Pre-tax income $ 396 $ 318 $ 542 Deferred income tax assets and liabilities, as of December 31, are comprised of the following: 2018 2017 Deferred income tax assets: Net operating loss carryforward $ 54 $ 48 Foreign tax credit carryforward 81 64 Tax basis differences in assets of foreign subsidiaries 12 13 Accrued liabilities and deferred income 62 95 Provision for doubtful accounts and loan loss reserves for vacation ownership contract receivables 210 192 Other comprehensive income 63 58 Other 34 16 Valuation allowance (a) (89 ) (36 ) Deferred income tax assets 427 450 Deferred income tax liabilities: Depreciation and amortization 192 185 Installment sales of vacation ownership interests 802 737 Estimated VOI recoveries 71 69 Other comprehensive income 45 38 Other 24 8 Deferred income tax liabilities 1,134 1,037 Net deferred income tax liabilities $ 707 $ 587 Reported in: Other assets $ 29 $ 26 Deferred income taxes 736 613 Net deferred income tax liabilities $ 707 $ 587 (a) The valuation allowance of $89 million at December 31, 2018 relates to foreign tax credits, net operating loss carryforwards and certain deferred tax assets of $34 million , $41 million and $14 million , respectively. The valuation allowance of $36 million at December 31, 2017 relates to foreign tax credits, net operating loss carryforwards and certain deferred tax assets of $14 million , $19 million and $3 million , respectively. The valuation allowance will be reduced when and if the Company determines it is more likely than not that the related deferred income tax assets will be realized. As of December 31, 2018 , the Company’s net operating loss carryforwards primarily relate to state net operating losses which are due to expire at various dates, but no later than 2038 . As of December 31, 2018 , the Company had $81 million of foreign tax credits. The foreign tax credits expire between 2021 and 2027 . The Company’s effective income tax rate differs from the U.S. federal statutory rate as follows for the year ended December 31: 2018 2017 2016 Federal statutory rate 21.0% 35.0% 35.0% State and local income taxes, net of federal tax benefits 1.7 0.7 1.5 Taxes on foreign operations at rates different than U.S. federal statutory rates 2.1 (0.8) (1.9) Taxes on foreign income, net of tax credits 2.7 (2.3) (2.9) Valuation allowance 10.8 (2.5) 1.0 Effect of impairment charges — 6.4 — Impact of U.S. tax reform (5.5) (128.2) — Realized foreign currency losses — (8.3) — Other — (3.1) 2.4 32.8% (103.1)% 35.1% The effective income tax rate for 2018 differs from the statutory U.S. Federal income tax rate of 21.0% primarily due to an increase in the valuation allowance on the Company’s deferred tax assets. The effective income tax rate for 2017 differs from the statutory U.S. Federal income tax rate of 35.0% primarily due to the net benefit from the impact of the U.S. enactment of the Tax Cuts and Jobs Act. The following table summarizes the activity related to the Company’s unrecognized tax benefits: 2018 2017 2016 Beginning balance $ 28 $ 25 $ 22 Increases related to tax positions taken during a prior period 1 4 — Increases related to tax positions taken during the current period 4 5 5 Decreases related to settlements with taxing authorities — (1 ) — Decreases as a result of a lapse of the applicable statute of limitations (2 ) (2 ) (1 ) Decreases related to tax positions taken during a prior period (3 ) (3 ) (1 ) Ending balance $ 28 $ 28 $ 25 The gross amount of the unrecognized tax benefits that, if recognized, would affect the Company’s effective tax rate was $28 million , $28 million and $25 million as of December 31, 2018 , 2017 and 2016 , respectively. The Company accrued potential penalties and interest as a component of Provision for income taxes on the Consolidated Statements of Income related to these unrecognized tax benefits of $1 million , $6 million and $3 million during 2018 , 2017 and 2016 , respectively. The Company had a liability for potential penalties of $4 million , $4 million and $3 million as of December 31, 2018 , 2017 and 2016, respectively and potential interest of $7 million , $5 million and $4 million as of December 31, 2018 , 2017 and 2016, respectively. Such liabilities are reported as a component of Accrued expenses and other liabilities on the Consolidated Balance Sheets. The Company does not expect the unrecognized tax benefits to change significantly over the next 12 months . The Company files U.S., state, and foreign income tax returns in jurisdictions with varying statutes of limitations. The 2015 through 2018 tax years generally remain subject to examination by federal tax authorities. The 2009 through 2018 tax years generally remain subject to examination by many state tax authorities. In significant foreign jurisdictions, the 2011 through 2018 tax years generally remain subject to examination by their respective tax authorities. The statute of limitations is scheduled to expire within 12 months of the reporting date in certain taxing jurisdictions, and the Company believes that it is reasonably possible that the total amount of its unrecognized tax benefits could decrease by $3 million to $5 million . The Company made cash income tax payments, net of refunds, of $108 million , $219 million and $177 million during 2018 , 2017 and 2016 , respectively. In addition, the Company made cash income tax payments, net of refunds, of $9 million , $26 million and $19 million during 2018, 2017 and 2016, respectively related to discontinued operations. Such payments exclude income tax related payments made to or refunded by former Parent.

Inventory

Inventory	12 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory, as of December 31, consisted of: 2018 2017 Land held for VOI development $ 4 $ 4 VOI construction in process 45 25 Inventory sold subject to repurchase 33 43 Completed VOI inventory 797 841 Estimated VOI recoveries 286 279 Exchange & Rentals vacation credits and other 59 57 Total inventory $ 1,224 $ 1,249 During 2018 , the Company transferred $23 million of VOI inventory to property and equipment and during 2017 , transferred $41 million of VOI inventory to property and equipment. In addition to the inventory obligations listed below, the Company had $6 million of inventory accruals included in Accounts payable on each of the Consolidated Balance Sheets as of December 31, 2018 and 2017 . During 2017, the Company performed an in-depth review of its operations, including its current development pipeline and long-term development plan. In connection with this review, the Company made a decision to no longer pursue future development at certain locations and thus performed a fair value assessment on these locations. As a result, the Company recorded a $135 million non-cash impairment charge primarily related to the write down of land held for VOI development. In addition, the Company recorded a $28 million non-cash impairment charge related to the write down of VOI inventory due to a disruption to VOI sales caused by the impact of the hurricanes on Saint Thomas, U.S. Virgin Islands. See Note 25 — Impairments and Other Charges for further details. Inventory Sale Transaction During 2013, the Company sold real property located in Las Vegas, Nevada and Avon, Colorado to a third-party developer, consisting of vacation ownership inventory and property and equipment. During 2015, the Company sold real property located in Saint Thomas, U.S. Virgin Islands to a third-party developer, consisting of $80 million of vacation ownership inventory, in exchange for $80 million in cash consideration. The Company recognized no gain or loss on these sales transactions. In accordance with the agreements with the third-party developers, the Company has conditional rights and conditional obligations to repurchase the completed properties from the developers subject to the properties conforming to the Company's vacation ownership resort standards and provided that the third-party developers have not sold the properties to another party. Under the sale of real estate accounting guidance, the conditional rights and obligations of the Company constitute continuing involvement and thus the Company was unable to account for these transactions as a sale. During 2017, the Company acquired property located in Austin, Texas from a third-party developer for vacation ownership inventory and property and equipment. In connection with these transactions, the following table summarizes the activity related to the Company’s inventory obligations: Avon Las Vegas Saint Thomas (a) Austin Total December 31, 2016 $ 32 $ 68 $ 98 $ — $ 198 Purchases 1 21 45 94 161 Payments (11 ) (29 ) (76 ) (32 ) (148 ) Non-cash transfer to debt — — (67 ) — (67 ) December 31, 2017 22 60 — 62 144 Purchases — 31 — 1 32 Payments (11 ) (39 ) — (32 ) (82 ) December 31, 2018 $ 11 $ 52 $ — $ 31 $ 94 Reported in 2017: Accrued expenses and other liabilities $ 22 $ 60 $ — $ 62 $ 144 Total inventory obligations $ 22 $ 60 $ — $ 62 $ 144 Reported in 2018: Accrued expenses and other liabilities $ 11 $ 52 $ — $ 31 $ 94 Total inventory obligations $ 11 $ 52 $ — $ 31 $ 94 (a) As a result of consolidation of the Saint Thomas SPE, the inventory obligation is presented within Debt on the Consolidated Balance Sheets. The Company has committed to repurchase the completed property located in Las Vegas, Nevada from a third-party developer subject to the property meeting the Company’s vacation ownership resort standards and provided that the third-party developer has not sold the property to another party. The maximum potential future payments that the Company may be required to make under these commitments was $160 million as of December 31, 2018 .

Vacation Ownership Contract Rec

Vacation Ownership Contract Receivables	12 Months Ended
	Dec. 31, 2018
Vacation Ownership Contract Receivables [Abstract]
Vacation Ownership Contract Receivables	Vacation Ownership Contract Receivables The Company generates vacation ownership contract receivables by extending financing to the purchasers of its VOIs. As of December 31, vacation ownership contract receivables, net consisted of: 2018 2017 Vacation ownership contract receivables: Securitized $ 2,883 $ 2,553 Non-securitized 888 1,039 Vacation ownership contract receivables, gross $ 3,771 $ 3,592 Less: Allowance for loan losses 734 691 Vacation ownership contract receivables, net $ 3,037 $ 2,901 Principal payments due on the Company’s vacation ownership contract receivables during each of the five years subsequent to December 31, 2018 and thereafter are as follows: Securitized Non - Securitized Total 2019 $ 240 $ 99 $ 339 2020 264 86 350 2021 288 92 380 2022 310 98 408 2023 302 94 396 Thereafter 1,479 419 1,898 $ 2,883 $ 888 $ 3,771 During 2018 , 2017 and 2016 , the Company’s securitized vacation ownership contract receivables generated interest income of $363 million , $340 million and $332 million , respectively. During 2018 , 2017 and 2016 , the Company originated vacation ownership contract receivables of $1.51 billion , $1.39 billion and $1.23 billion , respectively, and received principal collections of $890 million , $866 million and $820 million , respectively. The weighted average interest rate on outstanding vacation ownership contract receivables was 14.1% as of December 31, 2018 and 13.9% as of both December 31, 2017 and 2016 , respectively. The activity in the allowance for loan losses on vacation ownership contract receivables was as follows: Amount Allowance for loan losses as of December 31, 2015 $ 581 Provision for loan losses 342 Contract receivables written off, net (302 ) Allowance for loan losses as of December 31, 2016 621 Provision for loan losses 420 Contract receivables write-offs, net (350 ) Allowance for loan losses as of December 31, 2017 691 Provision for loan losses 456 Contract receivables write-offs, net (413 ) Allowance for loan losses as of December 31, 2018 $ 734 Credit Quality for Financed Receivables and the Allowance for Credit Losses The basis of the differentiation within the identified class of financed VOI contract receivable is the consumer’s FICO score. A FICO score is a branded version of a consumer credit score widely used within the U.S. by the largest banks and lending institutions. FICO scores range from 300 to 850 and are calculated based on information obtained from one or more of the three major U.S. credit reporting agencies that compile and report on a consumer’s credit history. The Company updates its records for all active VOI contract receivables with a balance due on a rolling monthly basis to ensure that all VOI contract receivables are scored at least every six months . The Company groups all VOI contract receivables into five different categories: FICO scores ranging from 700 to 850 , from 600 to 699 , below 600 , no score (primarily comprised of consumers for whom a score is not readily available, including consumers declining access to FICO scores and non-U.S. residents) and Asia Pacific (comprised of receivables in the Company’s Wyndham Vacation Resort Asia Pacific business for which scores are not readily available). The following table details an aged analysis of financing receivables using the most recently updated FICO scores (based on the policy described above): As of December 31, 2018 700+ 600-699 <600 No Score Asia Pacific Total Current $ 1,996 $ 1,041 $ 166 $ 135 $ 246 $ 3,584 31 - 60 days 22 35 18 6 2 83 61 - 90 days 15 22 13 3 1 54 91 - 120 days 12 17 16 4 1 50 Total $ 2,045 $ 1,115 $ 213 $ 148 $ 250 $ 3,771 As of December 31, 2017 700+ 600-699 <600 No Score Asia Pacific Total Current $ 1,849 $ 1,021 $ 166 $ 133 $ 262 $ 3,431 31 - 60 days 19 32 17 5 2 75 61 - 90 days 9 18 13 3 1 44 91 - 120 days 9 16 15 2 — 42 Total $ 1,886 $ 1,087 $ 211 $ 143 $ 265 $ 3,592 The Company ceases to accrue interest on VOI contract receivables once the contract has remained delinquent for greater than 90 days . At greater than 120 days , the VOI contract receivable is written off to the allowance for loan losses. In accordance with its policy, the Company assesses the allowance for loan losses using a static pool methodology and thus does not assess individual loans for impairment separate from the pool.

Property And Equipment, Net

Property And Equipment, Net	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Property And Equipment, Net	Property and Equipment, net Property and equipment, net, as of December 31, consisted of: 2018 2017 Land $ 30 $ 37 Building and leasehold improvements 588 543 Furniture, fixtures and equipment 250 279 Capitalized software 604 600 Capital leases 12 84 Construction in progress 81 124 Total property and equipment 1,565 1,667 Less: Accumulated depreciation and amortization 853 845 Net property and equipment $ 712 $ 822 During 2018 , 2017 and 2016 , the Company recorded depreciation and amortization expense from continuing operations of $126 million , $125 million and $116 million , respectively, related to property and equipment. As of both December 31, 2018 and 2017 , the Company had accrued capital expenditures of $3 million .

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2018
Other Current Assets [Abstract]
Other Assets	Other Assets Other assets, as of December 31, consisted of: 2018 2017 Deferred costs $ 110 $ 130 Non-trade receivables, net 63 42 Deferred tax asset 29 26 Investments 25 24 Deposits 24 23 Tax receivables 6 42 Other 47 41 $ 304 $ 328

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	12 Months Ended
	Dec. 31, 2018
Accrued Expenses and Other Current Liabilities [Abstract]
Accrued Expenses And Other Current Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities, as of December 31, consisted of: 2018 2017 Accrued payroll and related $ 263 $ 273 Accrued taxes 117 75 Payables associated with separation activities 102 14 Inventory sale obligation (a) 94 144 Guarantees 74 2 Accrued advertising and marketing 54 20 Deferred rent 43 47 Accrued interest 39 40 Accrued VOI maintenance fees 31 32 Accrued separation 17 27 Accrued legal settlements 14 25 Restructuring liabilities 12 5 Derivative contract liabilities 9 1 Accrued other 135 142 $ 1,004 $ 847 (a) See Note 11 — Inventory for details

Debt

Debt	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Debt	Debt The Company’s indebtedness, as of December 31, consisted of: 2018 2017 Non-recourse vacation ownership debt : (a) Term notes (b) $ 1,839 $ 1,219 $800 million bank conduit facility (due April 2020) (c) 518 333 $750 million bank conduit facility (d) — 546 Total $ 2,357 $ 2,098 Debt : (e) $1.5 billion revolving credit facility (due July 2020) (f) $ — $ 395 $1.0 billion secured revolving credit facility (due May 2023) (g) 181 — Commercial paper (h) — 147 $325 million term loan (due March 2021) (f) — 324 $300 million secured term loan B (due May 2025) (i) 296 — $450 million 2.50% senior unsecured notes (due March 2018) (j) — 450 $40 million 7.375% secured notes (due March 2020) (k) 40 40 $250 million 5.625% secured notes (due March 2021) (k) 249 248 $650 million 4.25% secured notes (due March 2022) (k) (l) 649 648 $400 million 3.90% secured notes (due March 2023) (k) (m) 405 406 $300 million 5.40% secured notes (due April 2024) (k) (n) 297 297 $350 million 6.35% secured notes (due October 2025) (k) (o) 341 340 $400 million 5.75% secured notes (due April 2027) (k) (p) 388 396 Capital leases (q) 3 72 Other 32 145 Total $ 2,881 $ 3,908 (a) Represents non-recourse debt that is securitized through bankruptcy-remote special purpose entities (“SPEs”), the creditors of which have no recourse to the Company for principal and interest. These outstanding borrowings (which legally are not liabilities of the Company) are collateralized by $3.03 billion and $2.68 billion of underlying gross vacation ownership contract receivables and related assets (which legally are not assets of the Company) as of December 31, 2018 and 2017 , respectively. (b) The carrying amounts of the term notes are net of debt issuance costs of $21 million and $15 million as of December 31, 2018 and 2017 , respectively. (c) T he Company has borrowing capability under the Sierra Receivable Funding Conduit II 2008-A facility through April 2020. Borrowings under this facility are required to be repaid as the collateralized receivables amortize but no later than May 2021. (d) As of December 2018, this facility was terminated. (e) The carrying amounts of the secured notes and term loan are net of unamortized discounts of $11 million and $14 million as of December 31, 2018 and 2017 , respectively. The carrying amounts of the secured notes and term loan are net of debt issuance costs of $6 million and $5 million as of December 31, 2018 and 2017 , respectively. (f) In connection with the hotel spin-off and entry into new credit facilities, this credit facility and term loan were terminated effective May 31, 2018. (g) As of December 31, 2018 , the weighted average interest rate on borrowing from this facility was 4.42% . (h) The Company’s European and U.S. commercial paper programs were terminated during 2018. (i) Commencing December 31, 2018, this loan requires quarterly principal payments of $750 thousand . (j) The Company repaid these notes in 2018. (k) These notes were previously unsecured; however, with the issuance of the $1.0 billion revolving credit facility and the $300 million term loan B, these notes are now secured by assets and properties as identified in the related security agreement. (l) Includes $1 million and $2 million of unamortized gains from the settlement of a derivative as of both December 31, 2018 and 2017 . (m) Includes $6 million and $8 million of unamortized gains from the settlement of a derivative as of December 31, 2018 and 2017 , respectively. (n) Effective October 1, 2018, the interest rate on these notes were increased from 4.15% to 5.40% as a result of these notes being downgraded subsequent to the spin-off of Wyndham Hotels. (o) Effective October 1, 2018, the interest rate on these notes were increased from 5.10% to 6.35% as a result of these notes being downgraded subsequent to the spin-off of Wyndham Hotels. Includes $7 million and $8 million of unamortized losses from the settlement of a derivative as of December 31, 2018 and 2017 , respectively. (p) Effective October 1, 2018, the interest rate on the note was increased from 4.50% to 5.75% as a result of these notes being downgraded subsequent to the spin-off of Wyndham Hotels. Includes an $8 million decrease and $1 million increase in the carrying value resulting from a fair value hedge derivative as of December 31, 2018 and 2017 , respectively. (q) Decrease is related to conveyance of the lease for Wyndham Worldwide headquarters to Wyndham Hotels as part of the Spin-off. Refer to Note 27 — Transactions with Former Parent and Former Subsidiaries for additional detail. Maturities and Capacity The Company’s outstanding debt as of December 31, 2018 matures as follows: Non-recourse Vacation Ownership Debt Debt Total Within 1 year $ 195 $ 38 $ 233 Between 1 and 2 years 198 43 241 Between 2 and 3 years 640 252 892 Between 3 and 4 years 200 652 852 Between 4 and 5 years 215 588 803 Thereafter 909 1,308 2,217 $ 2,357 $ 2,881 $ 5,238 Required principal payments on the non-recourse vacation ownership debt are based on the contractual repayment terms of the underlying vacation ownership contract receivables. Actual maturities may differ as a result of prepayments by the vacation ownership contract receivable obligors. As of December 31, 2018 , the available capacity under the Company’s borrowing arrangements was as follows: Non-recourse Conduit Facilities (a) Revolving Credit Facilities (b) Total capacity $ 800 $ 1,000 Less: Outstanding borrowings 518 181 Letters of credit — 35 Available capacity $ 282 $ 784 (a) Consists of the Company’s Sierra Receivable Funding Conduit II 2008-A facility. The capacity of this facility is subject to the Company’s ability to provide additional assets to collateralize additional non-recourse borrowings. (b) Consists of the Company’s $1.0 billion secured revolving credit facility. Non-recourse Vacation Ownership Debt As discussed in Note 16 — Variable Interest Entities , the Company issues debt through the securitization of vacation ownership contract receivables. Sierra Timeshare 2018-1 Receivables Funding, LLC. During April 2018, the Company closed on a private placement of a series of term notes payable, issued by Sierra Timeshare 2018-1 Receivables Fundings, LLC, with an initial principal amount of $350 million , which are secured by vacation ownership contract receivables and bear interest at a weighted average coupon rate of 3.73% . The advance rate for this transaction was 90.0% . As of December 31, 2018 , the Company had $233 million of outstanding borrowings under these term notes, net of debt issuance costs. Sierra Timeshare 2018-2 Receivables Funding LLC. During July, 2018, the Company closed on a placement of a series of term notes payable, issued by Sierra Timeshare 2018-2 Receivables Funding, LLC, with an initial principal amount of $500 million , which are secured by vacation ownership contract receivables and bear interest at a weighted average coupon rate of 3.65% . The advance rate for this transaction was 88.65% . As of December 31, 2018 , the Company had $386 million of outstanding borrowings under these term notes, net of debt issuance costs. Sierra Timeshare 2018-3 Receivables Funding LLC. During October, 2018, the Company closed on the placement of a series of term notes payable, issued by Sierra Timeshare 2018-3 Receivables Funding, LLC with an aggregate principle amount of $350 million maturing in September 2035. These notes are secured by vacation ownership contract receivables, and bear interest at a weighted average coupon rate of 4.02% . The advance rate for this transaction was 98.0% . The recourse on these notes is limited to the extent of the collateral. No other assets of the Company will be available to pay the notes. As of December 31, 2018 , the Company had $311 million of outstanding borrowings under these term notes, net of debt issuance costs. Premium Yield Facility 2018-A Class A. During December 2018, the Company closed on a private placement securitization facility in the initial principal amount of $279 million , utilizing previously non-securitized vacation ownership contract receivables. The advance rate for this transaction was 70.0% . These borrowings bear interest at a coupon rate of 4.73% and are secured by vacation ownership contract receivables. As of December 31, 2018 , the Company had $278 million of outstanding borrowings under this facility, net of debt issuance costs. Term Notes. In addition to the 2018 term notes described above, as of December 31, 2018 , the Company had $631 million of outstanding non-recourse borrowings, net of debt issuance costs, under term notes entered into prior to December 31, 2017 . The Company’s non-recourse term notes include fixed and floating rate term notes for which the weighted average interest rate was 4.1% , 3.7% and 3.6% during 2018 , 2017 and 2016 , respectively. Sierra Timeshare Conduit Receivables Funding II, LLC . During April 2018, the Company renewed its non-recourse timeshare receivables conduit facility for a two-year period through April 2020 and increased capacity to $800 million . The facility bears interest at variable rates based on the base rate (currently 5.50% ) or the London Interbank Offered Rate (LIBOR) rate plus a spread. Borrowings under this facility are required to be repaid as the collateralized receivables amortize, no later than May 2021. Sierra Timeshare Conduit Receivables Funding III, LLC . The Company has a non-recourse timeshare receivables conduit facility with a total capacity of $750 million and bears interest at variable rates based on the base rate or the LIBOR rate plus a spread. Borrowings under this facility are required to be repaid as the collateralized receivables amortize, no later than January 2020. As of December 2018, this facility was terminated. As of December 31, 2018 , the Company’s non-recourse vacation ownership debt of $2.36 billion was collateralized by $3.03 billion of underlying gross vacation ownership contract receivables and related assets. Additional usage of the capacity of the Company’s non-recourse bank conduit facilities are subject to the Company’s ability to provide additional assets to collateralize such facilities. The combined weighted average interest rate on the Company’s total non-recourse vacation ownership debt was 4.2% during 2018 and 3.6% during both 2017 and 2016 . Debt New credit agreement. On May 31, 2018, the Company entered into a credit agreement with Bank of America, N.A. as administrative agent and collateral agent. The agreement provides for new senior secured credit facilities in the amount of $1.3 billion , consisting of secured term loan B of $300 million maturing in 2025 and a new revolving facility of $1.0 billion maturing in 2023. The interest rate per annum applicable to the term loan B is equal to, at the Company’s option, either a base rate plus a margin of 1.25% or LIBOR plus a margin of 2.25% . The interest rate per annum applicable to borrowings under the new revolving credit facility is equal to, at the Company’s option, either a base rate plus a margin ranging from 0.75% to 1.25% or LIBOR plus a margin ranging from 1.75% to 2.25% , in either case based upon the first-lien leverage ratio of Wyndham Destinations and its restricted subsidiaries. The LIBOR rate with respect to either term loan B or revolving credit facility borrowings are subject to a “floor” of 0.00% . In connection with the new credit agreement, the Company entered into a security agreement with Bank of America, N.A., as collateral agent, as defined in the security agreement, for the secured parties. The security agreement granted a security interest in the collateral of the Company and added the holders of Wyndham Destinations’ outstanding 7.375% notes due 2020, 5.625% notes due 2021, 4.25% notes due 2022, 3.90% notes due 2023, 5.40% notes due 2024, 6.35% notes due 2025 and 5.75% notes due 2027, as “secured parties,” as defined in the security agreement, that share equally and ratably in the collateral owned by the Company for so long as indebtedness under the credit agreement is secured by such collateral. Separation and related debt activity. In connection with the Spin-off and the entry into the credit facilities described above, on May 31, 2018, the Company used net proceeds from the secured term loan B and $220 million of borrowings under the new $1.0 billion revolving credit facility to repay $484 million of outstanding principal borrowings under its revolving credit facility maturing in 2020. In addition, effective May 31, 2018, the Company terminated the $1.5 billion revolving credit facility maturing in 2020, the $400 million 364 -day credit facility maturing in 2018 and the $325 million term loan maturing in 2021. In January 2018, the Company entered into an agreement with La Quinta to acquire its hotel franchising and management businesses for $1.95 billion . At the time we entered into this agreement, we obtained financing commitments of $2.0 billion in the form of an unsecured bridge term loan, which was subsequently replaced with net cash proceeds from the issuance of $500 million unsecured notes, a $1.6 billion term loan and a $750 million revolving credit facility, which was undrawn. This acquisition closed on May 30, 2018, prior to the spin-off of Wyndham Hotels. Upon completion of the Spin-off, La Quinta became a wholly-owned subsidiary of Wyndham Hotels and the associated debt remained debt of Wyndham Hotels for which we are not liable. Following the Spin-off, the Company’s corporate notes were downgraded by Standard & Poor’s Ratings Services (“S&P”) and Moody’s Investors Service, Inc. (“Moody’s”). As a result of such notes being downgraded, pursuant to the terms of the indentures governing the Company’s 4.15% Notes due 2024 (the “2024 Notes”) were increased to 5.40% , the 5.10% Notes due 2025 (the “2025 Notes”) were increased to 6.35% , and the 4.50% Notes due 2027 (the “2027 Notes”) were increased to 5.75% per annum, respectively. Pursuant to the terms of the indentures governing such series of notes, the interest rate on each such series of notes may be subject to future increases or decreases, as a result of future downgrades or upgrades to the credit ratings of such notes by S&P, Moody’s or a substitute rating agency. Commercial Paper. The Company terminated its European and U.S. commercial paper programs during the first and second quarter of 2018, respectively. Prior to termination, the U.S. and European commercial paper programs had total capacities of $750 million and $500 million , respectively. As of December 31, 2018 , the Company had no outstanding borrowings under these programs. As of December 31, 2017 , the Company had outstanding borrowings of $147 million at a weighted average interest rate of 2.34% under its U.S. commercial paper program. Secured Notes. As of December 31, 2018 , the Company had $2.37 billion of outstanding secured notes issued prior to December 31, 2017 . Interest is payable semi-annually in arrears on the notes. The notes are redeemable at the Company’s option at a redemption price equal to the greater of (i) the sum of the principal being redeemed and (ii) a “make-whole” price specified in the Indenture of the notes, plus, in each case, accrued and unpaid interest. These notes rank equally in right of payment with all of the Company’s other secured indebtedness. Capital Leases. Wyndham Worldwide leased its Corporate headquarters in Parsippany, NJ. The lease was recorded as a capital lease obligation with a corresponding capital lease asset which was recorded net of deferred rent. As of May 31, 2018, the Parsippany lease was conveyed to Wyndham Hotels during the Spin-off. Refer to Note 27 — Transactions with Former Parent and Former Subsidiaries for additional detail. Other . During 2015, the Company entered into an agreement with a third-party partner whereby the partner would develop and construct VOI inventory through an SPE. The SPE financed the development and construction with a four-year bank mortgage note. During the first quarter of 2017, the third-party partner met certain conditions of the agreement, which resulted in the Company committing to purchase $51 million of VOI inventory located in Clearwater, Florida, from the SPE over a two-year period. Such proceeds from the purchase will be used by the SPE to repay the mortgage notes. The Company is considered to be the primary beneficiary for specified assets and liabilities of the SPE and, therefore, the Company consolidated such assets and liabilities within its Consolidated Financial Statements. As of December 31, 2018 , the Company completed its obligation under the notes. During 2015, the Company sold real property located in Saint Thomas, U.S. Virgin Islands to a third-party developer to construct VOI inventory through an SPE. The SPE financed the development and construction with a mortgage note. During the fourth quarter of 2017, the economics of the transaction changed, and as a result, the Company determined that it was the primary beneficiary, and as such, the Company consolidated the assets and liabilities of the SPE within its Consolidated Financial Statements. As of December 31, 2018 , the Company’s obligation under the mortgage note was $32 million , with principal and interest payable semi-annually (see Note 16 — Variable Interest Entities for further details). Deferred Financing Costs The Company classifies debt issuance costs related to its revolving credit facilities and the bank conduit facilities within Other assets on the Consolidated Balance Sheets. Fair Value Hedges During the first quarter of 2017, the Company entered into pay-variable/receive-fixed interest rate swap agreements on its 5.75% secured notes with notional amounts of $400 million . The fixed interest rates on these notes were effectively modified to a variable LIBOR-based index. As of December 31, 2018 , the variable interest rate on the notional portion of the 5.75% secured notes was 4.71% , the effective rate due to the aforementioned 2027 Notes downgrade was 5.96% . The market valuation of the swap agreements resulted in $8 million of liabilities, which was offset by an $8 million reduction in the carrying value of the hedged debt. These balances are included within Accrued expenses and other liabilities and Debt, respectively, on the Consolidated Balance Sheet as of December 31, 2018 . During 2013, the Company entered into pay-variable/receive-fixed interest rate swap agreements on its 3.90% and 4.25% senior unsecured notes with notional amounts of $400 million and $100 million , respectively. The fixed interest rates on these notes were effectively modified to a variable LIBOR-based index. During May 2015, the Company terminated the swap agreements resulting in a gain of $17 million , which is being amortized over the remaining life of the senior unsecured notes as a reduction to Interest expense on the Consolidated Statements of Income. The Company had $7 million and $9 million of deferred gains as of December 31, 2018 and 2017 , respectively, which are included within Debt on the Consolidated Balance Sheets. Early Extinguishment of Debt Expense During 2016, the Company redeemed the remaining portion of its 6.00% senior unsecured notes for a total of $327 million . As a result, the Company incurred an $11 million loss during 2016, which is included within Early extinguishment of debt on the Consolidated Statements of Income. Debt Covenants The revolving credit facilities and term loan B are subject to covenants including the maintenance of specific financial ratios as defined in the credit agreement. Commencing with the fiscal quarter ending September 30, 2018, the financial ratio covenants consist of a minimum interest coverage ratio of at least 2.5 to 1.0 as of the measurement date and a maximum first lien leverage ratio not to exceed 4.25 to 1.0 as of the measurement date. The interest coverage ratio is calculated by dividing consolidated EBITDA (as defined in the credit agreement) by consolidated interest expense (as defined in the credit agreement), both as measured on a trailing 12-month basis preceding the measurement date. As of December 31, 2018 , our interest coverage ratio was 6.2 to 1.0. The first lien leverage ratio is calculated by dividing consolidated first lien debt (as defined in the credit agreement) as of the measurement date by consolidated EBITDA (as defined in the credit agreement) as measured on a trailing 12-month basis preceding the measurement date. As of December 31, 2018 , our first lien leverage ratio was 2.8 to 1.0. These ratios do not include interest expense or indebtedness related to any qualified securitization financing (as defined in the credit agreement). As of December 31, 2018 , we were in compliance with all of the financial covenants described above. Interest Expense The Company incurred interest expense of $170 million during 2018 . Such amount consisted primarily of interest on debt, excluding non-recourse vacation ownership debt and including an offset of $2 million of capitalized interest. Cash paid related to such interest was $159 million . The Company incurred interest expense of $155 million during 2017 . Such amount consisted primarily of interest on debt, excluding non-recourse vacation ownership debt and including an offset of $2 million of capitalized interest. Cash paid related to such interest was $152 million . The Company incurred interest expense of $133 million during 2016 . Such amount consisted primarily of interest on debt, excluding non-recourse vacation ownership debt and including an offset of $4 million of capitalized interest. Cash paid related to such interest was $136 million . Interest expense incurred in connection with the Company’s non-recourse vacation ownership debt was $88 million , $74 million and $75 million during 2018 , 2017 and 2016 , respectively, and is reported within Consumer financing interest on the Consolidated Statements of Income. Cash paid related to such interest was $58 million , $49 million and $51 million during 2018 , 2017 and 2016 , respectively. Transition from LIBOR The Company is currently evaluating the impact of the transition from LIBOR as an interest rate benchmark to other potential alternative reference rates, including but not limited to the Secured Overnight Financing Rate (“SOFR”). Currently the Company has several debt and derivative instruments in place that reference LIBOR-based rates. The transition from LIBOR is estimated to take place in 2021 and management will continue to actively assess the related opportunities and risks involved in this transition.

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2018
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]
Variable Interest Entities	Variable Interest Entities The Company pools qualifying vacation ownership contract receivables and sells them to bankruptcy-remote entities. Vacation ownership contract receivables qualify for securitization based primarily on the credit strength of the VOI purchaser to whom financing has been extended. Vacation ownership contract receivables are securitized through bankruptcy-remote SPEs that are consolidated within the Consolidated Financial Statements. As a result, the Company does not recognize gains or losses resulting from these securitizations at the time of sale to the SPEs. Interest income is recognized when earned over the contractual life of the vacation ownership contract receivables. The Company services the securitized vacation ownership contract receivables pursuant to servicing agreements negotiated on an arms-length basis based on market conditions. The activities of these SPEs are limited to (i) purchasing vacation ownership contract receivables from the Company’s vacation ownership subsidiaries, (ii) issuing debt securities and/or borrowing under a conduit facility to fund such purchases and (iii) entering into derivatives to hedge interest rate exposure. The bankruptcy-remote SPEs are legally separate from the Company. The receivables held by the bankruptcy-remote SPEs are not available to creditors of the Company and legally are not assets of the Company. Additionally, the non-recourse debt that is securitized through the SPEs is legally not a liability of the Company and thus, the creditors of these SPEs have no recourse to the Company for principal and interest. The assets and liabilities of these vacation ownership SPEs are as follows: December 31, December 31, Securitized contract receivables, gross (a) $ 2,883 $ 2,553 Securitized restricted cash (b) 120 106 Interest receivables on securitized contract receivables (c) 23 22 Other assets (d) 3 4 Total SPE assets 3,029 2,685 Non-recourse term notes (e)(f) 1,839 1,219 Non-recourse conduit facilities (e) 518 879 Other liabilities (g) 3 2 Total SPE liabilities 2,360 2,100 SPE assets in excess of SPE liabilities $ 669 $ 585 (a) Included in Vacation ownership contract receivables, net on the Consolidated Balance Sheets. (b) Included in Restricted cash on the Consolidated Balance Sheets. (c) Included in Trade receivables, net on the Consolidated Balance Sheets. (d) Primarily includes deferred financing costs for the bank conduit facility and a security investment asset, which is included in Other assets on the Consolidated Balance Sheets. (e) Included in Non-recourse vacation ownership debt on the Consolidated Balance Sheets. (f) Includes deferred financing costs of $21 million and $15 million as of December 31, 2018 and 2017 , respectively, related to non-recourse debt. (g) Primarily includes accrued interest on non-recourse debt, which is included in Accrued expenses and other liabilities on the Consolidated Balance Sheets. In addition, the Company has vacation ownership contract receivables that have not been securitized through bankruptcy-remote SPEs. Such gross receivables were $888 million and $1.04 billion as of December 31, 2018 and 2017 , respectively. A summary of total vacation ownership receivables and other securitized assets, net of securitized liabilities and the allowance for loan losses, is as follows: December 31, December 31, SPE assets in excess of SPE liabilities $ 669 $ 585 Non-securitized contract receivables 888 1,039 Less: Allowance for loan losses 734 691 Total, net $ 823 $ 933 Midtown 45, NYC Property During January 2013, the Company entered into an agreement with a third-party partner whereby the partner acquired the Midtown 45 property in New York City through an SPE. The Company is managing and operating the property for rental purposes while the Company converts it into VOI inventory. The SPE financed the acquisition and planned renovations with a four-year mortgage note and mandatorily redeemable equity provided by related parties of such partner. At the time of the agreement, the Company committed to purchase such VOI inventory from the SPE over a four -year period which will be used to repay the four -year mortgage note and the mandatorily redeemable equity of the SPE. The Company was considered to be the primary beneficiary of the SPE and therefore, the Company consolidated the SPE within its financial statements. During the first quarter of 2017, the Company made its final purchase of VOI inventory from the SPE, and the mortgage note and redeemable equity were extinguished. Clearwater, FL Property During 2015, the Company entered into an agreement with a third-party partner whereby the partner would develop and construct VOI inventory through an SPE. During the first quarter of 2017, the third-party partner met certain conditions of the agreement, which resulted in the Company committing to purchase $51 million of VOI inventory from the SPE over a two -year period. Such proceeds from the purchase will be used by the SPE to repay its mortgage notes related to the property. The Company is considered to be the primary beneficiary for specified assets and liabilities of the SPE and, therefore, the Company consolidated $51 million of both property and equipment and debt on its Consolidated Balance Sheet. During the fourth quarter of 2018, the Company made its final purchase of VOI inventory from the SPE, and the mortgage note was extinguished. Saint Thomas, U.S. Virgin Islands Property During 2015, the Company sold real property located in Saint Thomas, U.S. Virgin Islands to a third-party developer to construct VOI inventory through an SPE. In accordance with the agreements with the third-party developer, the Company has conditional rights and conditional obligations to repurchase the completed property from the developer subject to the property conforming to the Company's vacation ownership resort standards and provided that the third-party developer has not sold the property to another party. As a result of a disruption to VOI sales caused by the impact of the hurricanes on Saint Thomas, U.S. Virgin Islands in 2017, there was a change in the economics of the transaction due to a reduction in the fair value of the assets of the SPE. As such, the Company is now considered the primary beneficiary for specified assets and liabilities of the SPE, and therefore consolidated $64 million of property and equipment and $104 million of debt on its Consolidated Balance Sheet. As a result of this consolidation, the Company incurred a non-cash $37 million loss due to a write-down of property and equipment to fair value. Such loss is presented within Asset impairments on the Consolidated Statements of Income (see Note 25 — Impairments and Other Charges for further details). The assets and liabilities of the Clearwater, FL property and Saint Thomas property SPEs are as follows: December 31, December 31, Property and equipment, net $ 23 $ 90 Total SPE assets 23 90 Debt (a) 32 131 Total SPE liabilities 32 131 SPE deficit $ (9 ) $ (41 ) (a) Included $32 million and $131 million relating to mortgage notes, which were included in Debt on the Consolidated Balance Sheet as of December 31, 2018 and 2017 , respectively. During 2018 and 2017 , the SPEs conveyed $67 million and $38 million , respectively, of property and equipment to the Company. In addition, the Company subsequently transferred $28 million of property and equipment to VOI inventory during 2018 and transferred $52 million of VOI inventory to property and equipment during 2017 .

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value	Fair Value The Company measures its financial assets and liabilities at fair value on a recurring basis and utilizes the fair value hierarchy to determine such fair values. Financial assets and liabilities carried at fair value are classified and disclosed in one of the following three categories: Level 1: Quoted prices for identical instruments in active markets. Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value driver is observable. Level 3: Unobservable inputs used when little or no market data is available. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement falls has been determined based on the lowest level input (closest to Level 3) that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. As of December 31, 2018 , the Company had interest rate swap contracts resulting in $8 million of liabilities which are included within Accrued expenses and other liabilities and foreign exchange contracts resulting in less than $1 million of assets which are included within Other assets on the Consolidated Balance Sheet. On a recurring basis, such assets and liabilities are remeasured at estimated fair value (all of which are Level 2) and thus are equal to the carrying value. The Company’s derivative instruments primarily consist of pay-fixed/receive-variable interest rate swaps, pay-variable/receive-fixed interest rate swaps, interest rate caps, and foreign exchange forward contracts (see Note 18 — Financial Instruments for additional details). For assets and liabilities that are measured using quoted prices in active markets, the fair value is the published market price per unit multiplied by the number of units held without consideration of transaction costs. Assets and liabilities that are measured using other significant observable inputs are valued by reference to similar assets and liabilities. For these items, a significant portion of fair value is derived by reference to quoted prices of similar assets and liabilities in active markets. For assets and liabilities that are measured using significant unobservable inputs, fair value is primarily derived using a fair value model, such as a discounted cash flow model. The fair value of financial instruments is generally determined by reference to market values resulting from trading on a national securities exchange or in an over-the-counter market. In cases where quoted market prices are not available, fair value is based on estimates using present value or other valuation techniques, as appropriate. The carrying amounts of cash and cash equivalents, restricted cash, trade receivables, accounts payable and accrued expenses and other current liabilities approximate fair value due to the short-term maturities of these assets and liabilities. The carrying amounts and estimated fair values of all other financial instruments are as follows: December 31, 2018 December 31, 2017 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Assets Vacation ownership contract receivables, net (Level 3) $ 3,037 $ 3,662 $ 2,901 $ 3,489 Debt Total debt (Level 2) $ 5,238 $ 4,604 $ 6,006 $ 6,084 The Company estimates the fair value of its vacation ownership contract receivables using a discounted cash flow model which it believes is comparable to the model that an independent third-party would use in the current market. The model uses Level 3 inputs consisting of default rates, prepayment rates, coupon rates and loan terms for the contract receivables portfolio as key drivers of risk and relative value that, when applied in combination with pricing parameters, determines the fair value of the underlying contract receivables. The Company estimates the fair value of its non-recourse vacation ownership debt by obtaining Level 2 inputs comprised of indicative bids from investment banks that actively issue and facilitate the secondary market for timeshare securities. The Company estimates the fair value of its debt, excluding capital leases, using Level 2 inputs based on indicative bids from investment banks and determines the fair value of its notes using quoted market prices (such notes are not actively traded).

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	Financial Instruments The designation of a derivative instrument as a hedge and its ability to meet the hedge accounting criteria determine how the change in fair value of the derivative instrument will be reflected on the Consolidated Financial Statements. A derivative qualifies for hedge accounting if, at inception, the derivative is expected to be highly effective in offsetting the underlying hedged cash flows or fair value and the hedge documentation standards are fulfilled at the time the Company enters into the derivative contract. A hedge is designated as a cash flow hedge based on the exposure being hedged. The asset or liability value of the derivative will change in tandem with its fair value. Changes in fair value, for the effective portion of qualifying cash flow hedges, are recorded in AOCI. The derivative’s gain or loss is released from AOCI to match the timing of the underlying hedged cash flows effect on earnings. A hedge is designated as a fair value hedge when the derivative is used to manage an exposure to changes in the fair value of a recognized asset or liability. For fair value hedges, the portion of the gain or loss on the derivative instrument designated as a fair value hedge will be recognized in earnings. The Company concurrently records changes in the value of the hedged asset or liability via a basis adjustment to the hedged item. These two changes in fair value offset one another in whole or in part and are reported in the same income statement line item as the hedged risk. The Company reviews the effectiveness of its hedging instruments on an ongoing basis, recognizes current period hedge ineffectiveness immediately in earnings and discontinues hedge accounting for any hedge that it no longer considers to be highly effective. The Company recognizes changes in fair value for derivatives not designated as hedges or those not qualifying for hedge accounting in current period earnings. Upon termination of cash flow hedges, the Company releases gains and losses from AOCI based on the timing of the underlying cash flows, unless the termination results from the failure of the intended transaction to occur in the expected time frame. Such untimely transactions require the Company to immediately recognize in earnings gains and losses previously recorded in AOCI. Changes in interest rates and foreign exchange rates expose the Company to market risk. The Company has used cash flow and fair value hedges as part of its overall strategy to manage its exposure to market risks associated with fluctuations in interest rates and foreign currency exchange rates. As a matter of policy, the Company only enters into transactions that it believes will be highly effective at offsetting the underlying risk and it does not use derivatives for trading or speculative purposes. In the fourth quarter of 2018, the Company adopted new guidance from the FASB intended to better align risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. The result of adopting this guidance was immaterial to the financial statements and related disclosures. The Company uses the following derivative instruments to mitigate its foreign currency exchange rate and interest rate risks: Foreign Currency Risk The Company has foreign currency rate exposure to exchange rate fluctuations worldwide with particular exposure to the Australian and Canadian dollars, the British pound, Brazilian real, Mexican peso and the Euro. The Company uses freestanding foreign currency forward contracts to manage a portion of its exposure to changes in foreign currency exchange rates associated with its foreign currency denominated receivables, payables and forecasted earnings of foreign subsidiaries. Additionally, the Company has used foreign currency forward contracts designated as cash flow hedges to manage a portion of its exposure to changes in forecasted foreign currency denominated vendor payments. The amount of gains or losses relating to contracts designated as cash flow hedges that the Company expects to reclassify from Accumulated other comprehensive loss (“AOCL”) to earnings over the next 12 months is not material. Interest Rate Risk A portion of the debt used to finance the Company’s operations is exposed to interest rate fluctuations. The Company uses various hedging strategies and derivative financial instruments to create a desired mix of fixed and floating rate assets and liabilities. Derivative instruments currently used in these hedging strategies include swaps. Interest rate swaps are used to convert specific fixed-rate debt into variable-rate debt (i.e., fair value hedges) to manage the overall interest cost. For relationships designated as fair value hedges, changes in fair value of the derivatives were recorded in income with offsetting adjustments to the carrying amount of the hedged debt, resulting in an immaterial impact to the Consolidated Statements of Income. The amount of gains or losses that the Company expects to reclassify from AOCL during the next 12 months is not material. The following table summarizes information regarding the gains/(losses) recognized in AOCL for the years ended December 31: 2018 2017 2016 Designated hedging instruments Foreign exchange contracts $ (1 ) $ (2 ) $ — The following table summarizes information regarding the gains/(losses) recognized in income on the Company’s freestanding derivatives for the years ended December 31: 2018 2017 2016 Non-designated hedging instruments Foreign exchange contracts (a) $ 2 $ 1 $ (20 ) (a) Included within Operating expenses on the Consolidated Statements of Income, which is primarily offset by changes in the value of the underlying assets and liabilities. Credit Risk and Exposure The Company is exposed to counterparty credit risk in the event of nonperformance by counterparties to various agreements and sales transactions. The Company manages such risk by evaluating the financial position and creditworthiness of such counterparties and by requiring collateral in instances in which financing is provided. The Company mitigates counterparty credit risk associated with its derivative contracts by monitoring the amounts at risk with each counterparty to such contracts, periodically evaluating counterparty creditworthiness and financial position, and where possible, dispersing its risk among multiple counterparties. As of December 31, 2018 , there were no significant concentrations of credit risk with any individual counterparty or groups of counterparties. However, approximately 18% of the Company’s outstanding vacation ownership contract receivables portfolio relates to customers who reside in California. With the exception of the financing provided to customers of its vacation ownership businesses, the Company does not normally require collateral or other security to support credit sales. Market Risk The Company is subject to risks relating to the geographic concentrations of (i) areas in which the Company is currently developing and selling vacation ownership properties, (ii) sales offices in certain vacation areas and (iii) customers of the Company’s vacation ownership business, which in each case, may result in the Company’s results of operations being more sensitive to local and regional economic conditions and other factors, including competition, natural disasters and economic downturns, than the Company’s results of operations would be, absent such geographic concentrations. Local and regional economic conditions and other factors may differ materially from prevailing conditions in other parts of the world. Florida and Nevada are examples of areas with concentrations of sales offices. For the year ended December 31, 2018 , approximately 17% and 14% of the Company’s VOI sales revenues were generated in sales offices located in Florida and Nevada, respectively. Included within the Consolidated Statements of Income is net revenues generated from transactions in the state of Florida of approximately 16% during 2018 and 2017 , and 14% during 2016 . There were 11% of net revenues generated from transactions in the state of California during 2018 , and 12% during 2017 , and 13% during 2016 .

Commitments And Contingencies

Commitments And Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies C OMMITMENTS Leases The Company is committed to making rental payments under non-cancelable operating leases covering various facilities and equipment. Future minimum lease payments required under non-cancelable operating leases are as follows: December 31, 2018 2019 $ 34 2020 30 2021 26 2022 24 2023 22 Thereafter 99 $ 235 The Company incurred total rental expense for continuing operations of $61 million during each of 2018 and 2017 , and $59 million during 2016 . The Company incurred total rental expense for discontinued operations of $9 million , $24 million , and $22 million during 2018 , 2017 and 2016 , respectively. Purchase Commitments In the normal course of business, the Company makes various commitments to purchase goods or services from specific suppliers, including those related to vacation ownership resort development and other capital expenditures. Purchase commitments made by the Company as of December 31, 2018 aggregated $1.12 billion , of which $848 million were for marketing-related activities, $153 million were related to the development of vacation ownership properties, and $64 million were for information technology activities. Inventory sold subject to conditional repurchase In the normal course of business, the Company makes various commitments to repurchase completed vacation ownership properties from third-party developers. Inventory sold subject to conditional repurchase made by the Company as of December 31, 2018 aggregated to $160 million . Letters of Credit As of December 31, 2018 , the Company had $70 million of irrevocable standby letters of credit outstanding, of which $35 million were under its revolving credit facilities. As of December 31, 2017 , the Company had $47 million of irrevocable standby letters of credit outstanding, of which $1 million were under its revolving credit facilities. Such letters of credit issued during 2018 and 2017 primarily supported the securitization of vacation ownership contract receivables fundings, certain insurance policies and development activity at the Company’s vacation ownership business. Surety Bonds A portion of the Company’s vacation ownership sales and developments are supported by surety bonds provided by affiliates of certain insurance companies in order to meet regulatory requirements of certain states. In the ordinary course of the Company’s business, it has assembled commitments from 15 surety providers in the amount of $2.60 billion , of which the Company had $365 million outstanding as of December 31, 2018 . The availability, terms and conditions and pricing of bonding capacity are dependent on, among other things, continued financial strength and stability of the insurance company affiliates providing the bonding capacity, general availability of such capacity and the Company’s corporate credit rating. If the bonding capacity is unavailable or, alternatively, the terms and conditions and pricing of the bonding capacity are unacceptable to the Company, its vacation ownership business could be negatively impacted. L ITIGATION The Company is involved in claims, legal and regulatory proceedings, and governmental inquiries related to the Company’s business, none of which, in the opinion of management, is expected to have a material effect on our results of operations or financial condition. Wyndham Destinations Litigation The Company may be from time to time involved in claims, legal and regulatory proceedings, and governmental inquiries arising in the ordinary course of its business including but not limited to: for its vacation ownership business — breach of contract, bad faith, conflict of interest, fraud, consumer protection and other statutory claims by property owners’ associations, owners and prospective owners in connection with the sale or use of VOIs or land, or the management of vacation ownership resorts, construction defect claims relating to vacation ownership units or resorts or in relation to guest reservations and bookings; and negligence, breach of contract, fraud, consumer protection and other statutory claims by guests and other consumers for alleged injuries sustained at or acts or occurrences related to vacation ownership units or resorts or in relation to guest reservations and bookings; for its exchange and rentals business — breach of contract, fraud and bad faith claims by affiliates and customers in connection with their respective agreements, negligence, breach of contract, fraud, consumer protection and other statutory claims asserted by members, guests and other consumers for alleged injuries sustained at or acts or occurrences related to affiliated resorts and vacation rental properties, or in relation to guest reservations and bookings; and for each of its businesses, bankruptcy proceedings involving efforts to collect receivables from a debtor in bankruptcy, employment matters including but not limited to, claims of wrongful termination, retaliation, discrimination, harassment and wage and hour claims, whistleblower claims, claims of infringement upon third parties’ intellectual property rights, claims relating to information security, privacy and consumer protection, fiduciary duty/trust claims, tax claims, environmental claims and landlord/tenant disputes. The Company records an accrual for legal contingencies when it determines, after consultation with outside counsel, that it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. In making such determinations, the Company evaluates, among other things, the degree of probability of an unfavorable outcome and, when it is probable that a liability has been incurred, the Company’s ability to make a reasonable estimate of loss. The Company reviews these accruals each reporting period and makes revisions based on changes in facts and circumstances including changes to its strategy in dealing with these matters. The Company believes that it has adequately accrued for such matters with reserves of $14 million and $25 million as of December 31, 2018 and 2017 , respectively. Such accruals are exclusive of matters relating to the Company’s separation from Cendant, which is discussed in Note 27 — Transactions with Former Parent and Former Subsidiaries . For matters not requiring accrual, the Company believes that such matters will not have a material effect on its results of operations, financial position or cash flows based on information currently available. However, litigation is inherently unpredictable and, although the Company believes that its accruals are adequate and/or that it has valid defenses in these matters, unfavorable results could occur. As such, an adverse outcome from such proceedings for which claims are awarded in excess of the amounts accrued, if any, could be material to the Company with respect to earnings and/or cash flows in any given reporting period. As of December 31, 2018 , the potential exposure resulting from adverse outcomes of such legal proceedings could, in the aggregate, range up to $50 million in excess of recorded accruals. However, the Company does not believe that the impact of such litigation should result in a material liability to the Company in relation to its consolidated financial position and/or liquidity. G UARANTEES /I NDEMNIFICATIONS Standard Guarantees/Indemnifications In the ordinary course of business, the Company enters into agreements that contain standard guarantees and indemnities whereby the Company indemnifies another party for specified breaches of, or third-party claims relating to, an underlying agreement. Such underlying agreements are typically entered into by one of the Company’s subsidiaries. The various underlying agreements generally govern purchases, sales or outsourcing of products or services, leases of real estate, licensing of software and/or development of vacation ownership properties, access to credit facilities, derivatives and issuances of debt securities. Also in the ordinary course of business, the Company provides corporate guarantees for its operating business units relating to merchant credit-card processing for prepaid customer stays and other deposits. While a majority of these guarantees and indemnifications extend only for the duration of the underlying agreement, some survive the expiration of the agreement. The Company is not able to estimate the maximum potential amount of future payments to be made under these guarantees and indemnifications as the triggering events are not predictable. In certain cases, the Company maintains insurance coverage that may mitigate any potential payments. Other Guarantees/Indemnifications Vacation Ownership The Company has committed to repurchase completed property located in Las Vegas, Nevada from a third-party developer subject to such property meeting the Company’s vacation ownership resort standards and provided that the third-party developer has not sold such property to another party. See Note 11 — Inventory for additional details. In connection with the Company’s vacation ownership inventory sale transactions, for which it has conditional rights and conditional obligations to repurchase the completed properties, the Company was required to maintain an investment-grade credit rating from at least one rating agency. As a result of the spin-off of Wyndham Hotels, the Company failed to maintain an investment-grade credit rating with at least one rating agency, which triggered a default. The Company agreed to pay $8 million in fees in lieu of posting collateral in favor of the development partner in an amount equal to the remaining obligations under the agreements. As part of the Fee-for-Service program, the Company may guarantee to reimburse the developer a certain payment or to purchase inventory from the developer, for a percentage of the original sale price if certain future conditions exist. As of December 31, 2018 the maximum potential future payments that the Company may be required to make under these guarantees were approximately $37 million . As of December 31, 2018 and 2017 , the Company had no recognized liabilities in connection with these guarantees. For information on guarantees and indemnifications related to the Company’s former parent and subsidiaries see Note 27 — Transactions with Former Parent and Former Subsidiaries .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income/(Loss)	12 Months Ended
	Dec. 31, 2018
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income/(Loss)	Accumulated Other Comprehensive Income/(Loss) The components of Accumulated Other Comprehensive Income/(Loss) are as follows: Pretax Foreign Currency Translation Adjustments Unrealized Gains/(Losses) on Cash Flow Hedges Defined Benefit Pension Plans Accumulated Other Comprehensive Income/(Loss) Balance as of December 31, 2015 $ (136 ) $ — $ (9 ) $ (145 ) Other comprehensive income/(loss) (81 ) — 2 (79 ) Balance as of December 31, 2016 (217 ) — (7 ) (224 ) Other comprehensive income/(loss) 121 (2 ) 2 121 Balance as of December 31, 2017 (96 ) (2 ) (5 ) (103 ) Other comprehensive income/(loss) before reclassifications (75 ) — 1 (74 ) Amount reclassified to earnings 24 — 6 30 Balance as of December 31, 2018 $ (147 ) $ (2 ) $ 2 $ (147 ) Tax Foreign Currency Translation Adjustments Unrealized Gains/(Losses) on Cash Flow Hedges Defined Benefit Pension Plans Accumulated Other Comprehensive Income/(Loss) Balance as of December 31, 2015 $ 70 $ — $ 3 $ 73 Other comprehensive income/(loss) 45 — (1 ) 44 Balance as of December 31, 2016 115 — 2 117 Other comprehensive income/(loss) (26 ) 2 (1 ) (25 ) Balance as of December 31, 2017 89 2 1 92 Other comprehensive income/(loss) before reclassifications 13 — — 13 Amount reclassified to earnings — — (2 ) (2 ) Balance as of December 31, 2018 $ 102 $ 2 $ (1 ) $ 103 Net of Tax Foreign Currency Translation Adjustments Unrealized Gains/(Losses) on Cash Flow Hedges Defined Benefit Pension Plans Accumulated Other Comprehensive Loss Balance as of December 31, 2015 $ (66 ) $ — $ (6 ) $ (72 ) Other comprehensive income/(loss) (36 ) — 1 (35 ) Balance as of December 31, 2016 (102 ) — (5 ) (107 ) Other comprehensive income/(loss) 95 — 1 96 Balance as of December 31, 2017 (7 ) — (4 ) (11 ) Other comprehensive income/(loss) before reclassifications (62 ) — 1 (61 ) Amount reclassified to earnings 24 — 4 28 Other comprehensive income/(loss) (38 ) — 5 (33 ) Effect of adoption of new accounting principle (a) (8 ) — — (8 ) Balance as of December 31, 2018 $ (53 ) $ — $ 1 $ (52 ) (a) Impact of the Company’s early adoption of new accounting guidance which allows for the reclassification of the stranded tax effects resulting from the implementation of the Tax Cuts and Jobs Act of 2017. This adoption resulted in an $8 million reclassification of tax benefit from AOCI to Retained Earnings. Currency translation adjustments exclude income taxes related to investments in foreign subsidiaries where the Company intends to reinvest the undistributed earnings indefinitely in those foreign operations. Reclassifications out of AOCL are presented in the following table. Amounts in parenthesis indicate debits to the Consolidated Statements of Income: Twelve Months Ended December 31, 2018 2017 Foreign currency translation adjustments, net Income on disposal of discontinued business, net of income taxes $ (24 ) $ — Net income/(loss) $ (24 ) $ — Defined benefit pension plans, net Income on disposal of discontinued business, net of income taxes $ (4 ) $ — Net income/(loss) $ (4 ) $ —

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2018
Share-based Compensation [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company has a stock-based compensation plan available to grant RSUs, PSUs, stock-settled appreciation rights (“SSARs”), non-qualified stock options (“NQs”) and other stock-based awards to key employees, non-employee directors, advisors and consultants. The plan was originally adopted in 2006 and was amended and restated in its entirety and approved by shareholders on May 17, 2018. Under the amended and restated equity incentive plan, a maximum of 15.7 million shares of common stock may be awarded. As of December 31, 2018 , 15.0 million shares remain outstanding. Incentive Equity Awards Granted by the Company During the year ended December 31, 2018 , the Company granted incentive equity awards to key employees and senior officers totaling $58 million in the form of RSUs and $7 million in the form of stock options. Of these awards, $22 million of RSUs will vest at the end of period of 16 months , and the remaining RSUs and stock options will vest ratably over a period of 48 months . During 2017 and 2016 , the Company granted incentive equity awards totaling $66 million and $64 million , respectively, to the Company’s key employees and senior officers in the form of RSUs and SSARs. In addition, during 2017 and 2016 , the Company approved grants of incentive equity awards totaling $22 million and $17 million , respectively, to key employees and senior officers in the form of PSUs. In connection with the spin-off of Wyndham Hotels, the Company accelerated vesting of all RSUs and PSUs granted through the year ended December 31, 2017. Wyndham Destinations RSUs held by Wyndham Hotels employees vested upon separation and RSUs held by Wyndham Destination employees vested on November 30, 2018 in accordance with their terms. All outstanding PSUs vested on June 1, 2018, with no further service condition required. The activity related to incentive equity awards granted to the Company’s key employees and senior officers by the Company for the year ended December 31, 2018 consisted of the following: Balance at December 31, 2017 Effect of Spin-off (a) Granted Vested/Exercised Canceled Balance at December 31, 2018 RSUs Number of RSUs 1.6 0.7 0.9 (f) (2.2 ) (e) (0.1 ) 0.9 (b) Weighted average grant price $ 81.18 NM $ 62.34 $ 65.39 $ 72.54 $ 50.54 PSUs Number of PSUs 0.7 0.3 — (1.0 ) — — (c) Weighted average grant price $ 81.77 NM $ — $ 66.42 $ — $ — SSARs Number of SSARs 0.2 — — — — 0.2 (d) Weighted average grant price $ 77.40 $ — $ — $ — $ — $ 34.24 NQs Number of NQs — — 0.8 — — 0.8 (g) Weighted average grant price $ — $ — $ 48.71 $ — $ — $ 48.71 NM- Not meaningful (a) Impact of equity restructuring in connection with the spin-off of Wyndham Hotels. (b) Aggregate unrecognized compensation expense related to RSUs was $32 million as of December 31, 2018 , which is expected to be recognized over a weighted average period of 3.4 years . (c) As a result of the spin-off of Wyndham Hotels, the Company accelerated the vesting of all PSUs, as such there was no unrecognized compensation expense as of December 31, 2018 . (d) There were 0.2 million SSARs that were exercisable as of December 31, 2018 . There was no unrecognized compensation expense as of December 31, 2018 as all SSARS were vested. (e) Primarily reflects accelerated vesting in connection with the spin-off of Wyndham Hotels. (f) Includes 0.2 million shares granted in March 2018. (g) Unrecognized compensation expense for NQs was $5 million as of December 31, 2018 , which is expected to be recognized over a period of 3.4 years . The fair value of stock options granted by the Company during 2018, and the SSARS granted in 2016 was estimated on the dates of these grants using the Black-Scholes option-pricing model with the relevant weighted average assumptions outlined in the table below. Expected volatility was based on both historical and implied volatilities of the Company’s stock for SSARs and also included the stock of comparable companies over the estimated expected life for options. The expected life represents the period of time these awards are expected to be outstanding. The-risk free interest rate is based on yields on U.S. Treasury strips with a maturity similar to the estimated expected life of the options and SSARS. The projected dividend yield was based on the Company’s anticipated annual dividend divided by the price of the Company’s stock on the date of the grant. Stock Options 2018 Grant date fair value $ 8.48 Grant date strike price $ 48.71 Expected volatility 26.01 % Expected life 4.25 Risk-free interest rate 2.73 % SSARS 2016 Grant date fair value $ 13.70 Grant date strike price $ 71.65 Expected volatility 27.81 % Expected life 5.2 Risk-free interest rate 1.33 % Projected dividend yield 2.79 % Stock-Based Compensation Expense The Company recorded stock-based compensation expense of $150 million , $68 million , and $66 million during 2018 , 2017 , and 2016 , respectively, related to the incentive equity awards granted to key employees and senior officers. Such stock-based compensation expense included expense related to discontinued operations of $22 million for 2018, and $11 million for 2017 and 2016 . The Company also recorded stock-based compensation expense for non-employee directors of $1 million , $2 million and $1 million during 2018 , 2017 and 2016 , respectively. Stock-based compensation expense for 2018 and 2017 included $105 million and $4 million of expense which has been classified within separation and related costs in continuing operations. Additionally, $1 million of stock-based compensation expense was recorded within restructuring expense during 2017. The Company paid $60 million , $39 million and $36 million of taxes for the net share settlement of incentive equity awards during 2018 , 2017 and 2016 , respectively. Such amounts are included within Financing activities on the Consolidated Statements of Cash Flows.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2018
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans Defined Contribution Benefit Plans Wyndham Destinations sponsors domestic defined contribution savings plans and a domestic deferred compensation plan that provide eligible employees of the Company an opportunity to accumulate funds for retirement. The Company matches the contributions of participating employees on the basis specified by each plan. The Company’s cost for these plans was $33 million , $35 million , and $36 million during 2018 , 2017 , and 2016 , respectively. In addition, the Company contributes to several foreign employee benefit contributory plans which also provide eligible employees with an opportunity to accumulate funds for retirement. The Company’s contributory cost for these plans was $10 million during 2018 and $11 million during 2017 and 2016 . Defined Benefit Pension Plans The Company sponsors defined benefit pension plans for certain foreign subsidiaries, which were primarily part of the Company’s European vacation rentals business which is presented as discontinued operations. Under these plans, benefits are based on an employee’s years of credited service and a percentage of final average compensation or as otherwise described by the plan. Any gain or loss related to the settlement of the Company’s obligation under these plans is included as a component of the overall gain or loss of the disposal of the business. The Company had $4 million and $5 million of net pension liability as of December 31, 2018 and 2017 , respectively, included within Accrued expenses and other liabilities. As of December 31, 2017 , the Company had a net pension liability $14 million included within Liabilities of discontinued operations and held-for-sale business on the Consolidated Balance Sheets. As of December 31, 2017 , the Company had recorded $4 million of an unrecognized loss within AOCL on the Consolidated Balance Sheet, which was reclassified to Income on disposal of discontinued business, net of income taxes in 2018 on the Consolidated Statements of Income. The Company’s policy is to contribute amounts sufficient to meet minimum funding requirements as set forth in employee benefit and tax laws and additional amounts that the Company determines to be appropriate. The Company adjusted $1 million of pension expense during 2018 to align to the final actuarial calculation for the period. During 2017 and 2016 , the Company recorded pension expense of $1 million and $3 million , respectively.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Segment Information	Segment Information As a result of the completion of the spin-off of Wyndham Hotels, the Company now has two operating segments: Vacation Ownership and Exchange & Rentals. The Vacation Ownership segment develops, markets and sells VOIs to individual consumers, provides consumer financing in connection with the sale of VOIs and provides property management services at resorts. The Exchange & Rentals segment provides vacation exchange services and products to owners of VOIs and manages and markets vacation rental properties primarily on behalf of independent owners. During 2018, the Company decided to explore strategic alternatives and commenced activities to facilitate the sale of its North American vacation rentals business, which is currently part of its Exchange & Rentals segment. The assets and liabilities of this business have been classified as held-for-sale. The reportable segments presented below represent the Company’s operating segments for which discrete financial information is available and which are utilized on a regular basis by its chief operating decision maker to assess performance and to allocate resources. In identifying its reportable segments, the Company also considers the nature of services provided by its operating segments. The Company has updated its segment reporting during the second quarter 2018 to include Adjusted EBITDA, a non-GAAP measure, whereas in the past EBITDA was presented. Following the completion of the spin-off of Wyndham Hotels and the sale of the European vacation rentals business, management uses net revenues and Adjusted EBITDA to assess the performance of the reportable segments. Adjusted EBITDA is defined by the Company as Net income before Depreciation and amortization, Interest expense (excluding Consumer financing interest), Early extinguishment of debt, Interest income (excluding Consumer financing revenues) and Income taxes, each of which is presented on the Consolidated Statements of Income. Adjusted EBITDA also excludes stock-based compensation costs, separation and restructuring costs, transaction costs, impairments, and items that meet the conditions of unusual and/or infrequent. The Company believes that Adjusted EBITDA is a useful measure of performance for its segments which, when considered with GAAP measures, the Company believes it gives a more complete understanding of its operating performance. The Company’s presentation of Adjusted EBITDA may not be comparable to similarly-titled measures used by other companies. Year Ended December 31, Net revenues 2018 2017 2016 Vacation Ownership $ 3,016 $ 2,881 $ 2,774 Exchange & Rentals 918 927 916 Total reportable segments 3,934 3,808 3,690 Corporate and other (a) (3 ) (2 ) 2 Total Company $ 3,931 $ 3,806 $ 3,692 Year Ended December 31, Reconciliation of Net income to Adjusted EBITDA 2018 2017 2016 Net income attributable to Wyndham Destinations shareholders $ 672 $ 854 $ 611 Net income attributable to noncontrolling interest — 1 1 (Income) on disposal of discontinued business, net of income taxes (456 ) — — Loss/(income) from operations of discontinued businesses, net of income taxes 50 (209 ) (260 ) Provision/(benefit) for income taxes 130 (328 ) 190 Depreciation and amortization 138 136 127 Interest expense 170 155 133 Early extinguishment of debt (b) — — 11 Interest (income) (5 ) (6 ) (7 ) Venezuela currency devaluation — — 24 Executive departure costs — — 6 Separation and related costs (c) 223 26 — Restructuring (d) 16 14 12 Asset impairments (4 ) 205 — Legacy items (e) 1 (6 ) (11 ) Acquisition gain, net — (13 ) — Stock-based compensation 23 53 55 Value-added tax refund (16 ) — — Adjusted EBITDA $ 942 $ 882 $ 892 Year Ended December 31, Adjusted EBITDA 2018 2017 2016 Vacation Ownership $ 731 $ 709 $ 724 Exchange & Rentals 278 268 261 Total reportable segments 1,009 977 985 Corporate and other (a) (67 ) (95 ) (93 ) Total Company $ 942 $ 882 $ 892 (a) Includes the elimination of transactions between segments. (b) Represents costs incurred for the early repurchase of the remaining portion of our 6.00% senior unsecured notes. (c) Includes $105 million and $4 million of stock-based compensation expenses for the periods ending December 31, 2018 and 2017 , respectively. No such expense recognized in 2016 . (d) Includes $1 million of stock-based compensation expense for the year ended 2017. (e) Represents the net benefit from the resolution of and adjustment to certain contingent liabilities resulting from the Company’s separation from Cendant. Year Ended December 31, Segment Assets (a) 2018 2017 2016 Vacation Ownership $ 5,421 $ 5,246 $ 5,060 Exchange & Rentals 1,376 1,472 1,391 Total reportable segments 6,797 6,718 6,451 Corporate and other 158 168 239 Assets held-for-sale 203 — — Total Company $ 7,158 $ 6,886 $ 6,690 Year Ended December 31, Capital Expenditures (a) 2018 2017 2016 Vacation Ownership $ 66 $ 72 $ 67 Exchange & Rentals 25 27 31 Total reportable segments 91 99 98 Corporate and other 8 8 19 Total Company $ 99 $ 107 $ 117 (a) Excludes investment in consolidated subs and assets of discontinued operations. The geographic segment information provided below is classified based on the geographic location of the Company’s subsidiaries. United States All Other Countries Total Year Ended or As of December 31, 2018 Net revenues $ 3,500 $ 431 $ 3,931 Net long-lived assets 1,471 272 1,743 Year Ended or As of December 31, 2017 Net revenues $ 3,359 $ 447 $ 3,806 Net long-lived assets 1,581 295 1,876 Year Ended or As of December 31, 2016 Net revenues $ 3,209 $ 483 $ 3,692 Net long-lived assets 1,609 111 1,720

Separation and Transaction Cost

Separation and Transaction Costs	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Separation and Transaction Costs	Separation and Transaction Costs On May 31, 2018 , the Company completed the spin-off of its hotel business. This transaction resulted in operations being held by two separate, publicly traded companies as discussed in Note 1 — Background and Basis of Presentation . Prior to the Spin-off, the Company completed the sale of its European vacation rentals business. During 2018 , the Company incurred $223 million of expenses in connection with the spin-off of the hotel business which are reflected within continuing operations and include related costs of the Spin-off, of which $217 million were related to stock compensation modification expense, severance and other employee costs offset, in part, by favorable foreign currency. In addition, these costs include certain impairment charges related to the separation including property sold to Wyndham Hotels. Additionally, during 2018 , the Company incurred $111 million of separation related expenses in connection with the hotel spin-off and sale of the European vacation rentals business which are reflected within discontinued operations. These expenses include legal, consulting and auditing fees, stock compensation modification expense, severance and other employee-related costs. During 2017, the Company incurred $26 million of expenses associated with the planned spin-off of the hotel business and the exploration of strategic alternatives for the European vacation rentals business which are reflected within continuing operations. Additionally, during this same time period the Company incurred $40 million of separation related costs that are included within discontinued operations. These costs include legal, consulting and auditing fees, stock compensation modification expense, severance and other employee-related costs. Transactions with Former Parent and Former Subsidiaries Matters Related to Cendant Pursuant to the Cendant Separation and Distribution Agreement, the Company entered into certain guarantee commitments with Cendant and Cendant’s former subsidiary, Realogy. These guarantee arrangements primarily relate to certain contingent litigation liabilities, contingent tax liabilities, and Cendant contingent and other corporate liabilities, of which Wyndham Worldwide assumed 37.5% of the responsibility while Cendant’s former subsidiary Realogy is responsible for the remaining 62.5% . As a result of the Wyndham Worldwide separation, Wyndham Hotels agreed to retain one third of Cendant’s contingent and other corporate liabilities and associated costs; therefore, Wyndham Destinations is effectively responsible for 25% of such matters subsequent to the separation. Since Cendant’s separation, Cendant settled the majority of the lawsuits pending on the date of the separation. As of December 31, 2018 , Cendant separation-related liabilities of $18 million are comprised of $13 million for tax related liabilities and $5 million for other contingent and corporate liabilities assumed at the separation date. As of December 31, 2017 , the Company had $16 million of Cendant separation-related liabilities. These liabilities were recorded within Accrued expenses and other liabilities on the Consolidated Balance Sheet. Matters Related to Wyndham Hotels In connection with the spin-off of the hotel business on May 31, 2018, Wyndham Destinations entered into several agreements with Wyndham Hotels that govern the relationship of the parties following the distribution including the Separation and Distribution Agreement, the Employee Matters Agreements, the Tax Matters Agreement, the Transition Services Agreement and the License, Development and Noncompetition Agreement. In accordance with these agreements, Wyndham Destinations assumed two-thirds and Wyndham Hotels assumed one-third of certain contingent corporate liabilities of the Company incurred prior to the distribution, including liabilities of the Company related to certain terminated or divested businesses, certain general corporate matters, and any actions with respect to the separation plan. Likewise, Wyndham Destinations is entitled to receive two-thirds and Wyndham Hotels is entitled to receive one-third of the proceeds from certain contingent corporate assets of the Company arising or accrued prior to the distribution. The Company conveyed the lease for its former corporate headquarters located in Parsippany, New Jersey to Wyndham Hotels, which resulted in the removal of a $66 million capital lease obligation and a $43 million asset from the Consolidated Balance Sheet. Wyndham Destinations entered into a transition service agreement with Wyndham Hotels, pursuant to which the companies agreed to provide each other certain transitional services including human resources, facilities, payroll, tax, information technology, information management and related services, treasury, finance, sourcing, and employee benefits administration on an interim, transitional basis. For 2018, transition service agreement expenses were $8 million and transition service agreement income was $6 million . Matters Related to the European Vacation Rentals Business In connection with the sale of the European vacation rentals business, the Company and Wyndham Hotels agreed to post-closing credit support for the benefit of certain credit card service providers, a British travel association, and certain regulatory authorities to allow them to continue providing services or regulatory approval to the business. Such post-closing credit support included a guarantee of up to $180 million through June 30, 2019, which has an estimated fair value of $2 million . Such post-closing credit support may be called if the business fails to meet its primary obligation to pay amounts when due. The Buyer has provided an indemnification to Wyndham Destinations in the event that the post-closing credit support (other than the guarantee by Wyndham Destinations of up to $180 million ) is enforced or called upon. At closing, the Company agreed to provide additional post-closing credit support to a British travel association and regulatory authority. An escrow was established at closing, of which $46 million was subsequently released in exchange for a secured bonding facility and a perpetual guarantee of $46 million . The estimated fair value of the guarantee was $22 million at December 31, 2018 . The Company established a $7 million receivable from Wyndham Hotels for their portion of the guarantee. In January 2019, the Company reached an agreement with the Buyer on certain post-closing adjustments, resulting in a reduction of proceeds by $27 million . In accordance with the separation agreement, the Company and Wyndham Hotels agreed to share two–thirds and one–third, respectively, in the European vacation rentals business' final net proceeds (as defined by the sales agreement), adjusted for certain items including the return of the escrow, post–closing adjustments, transaction expenses and estimated taxes. The Company estimated the net payable due to Wyndham Hotels to be approximately $40 million and expects to finalize this estimate and pay it in the second quarter of 2019. In connection with these estimated final adjustments, the Company recorded a $40 million liability and reduced retained earnings accordingly. The Company also deposited $5 million into an escrow account, which will be returned to the Company on May 9, 2019, if the gross limit of the Barclays Bank PLC (“Barclays”) pound sterling cash pooling arrangement with the Buyer remains at least £10 million and security is not demanded by Barclays. If any further security is demanded by Barclays, the Company must pay an additional £1 million into the escrow account. In addition, the Company agreed to indemnify the Buyer against certain claims and assessments, including income tax, value-added tax and other tax matters, related to the operations of the European vacation rentals business for the periods prior to the transaction. The estimated fair value of the indemnifications total $43 million at December 31, 2018 . Wyndham Hotels provided certain post-closing credit support primarily for the benefit of a British travel association in the form of guarantees which are primarily denominated in pound sterling of up to an approximate $81 million on a perpetual basis. The estimated fair value of such guarantees was $39 million at December 31, 2018 . Wyndham Destinations is responsible for two-thirds of these guarantees. Wyndham Hotels is required to maintain minimum credit ratings of Ba2 for Moody’s and BB for S&P. If Wyndham Hotels drops below these minimum credit ratings, Wyndham Destinations would be required to post a letter of credit (or equivalent support) for the amount of the Wyndham Hotels guarantee. The estimated fair value of the guarantees and indemnifications for which Wyndham Destinations is responsible related to the sale of the European vacation rentals business, including the two-thirds portion related to guarantees provided by Wyndham Hotels, totaled $96 million and was recorded in Accrued expenses and other liabilities at December 31, 2018 . A receivable of $23 million was included in Other assets and increased retained earnings accordingly at December 31, 2018 representing the portion of these guarantees and indemnifications for which Wyndham Hotels is responsible. Wyndham Destinations entered into a transition service agreement with the European vacation business, pursuant to which the companies agreed to provide each other certain transitional services including human resources, facilities, payroll, tax, information technology, information management and related services, treasury, finance, and sourcing on an interim, transitional basis. For 2018, transition service agreement expenses were $3 million and transition service agreement income was $3 million . Related Party Transactions During August 2018, the Company provided notification to the owner trustee of the Company’s leased aircraft of its intent to exercise the purchase option for such aircraft at fair market value. In connection with that purchase, the Company entered into an agreement to sell the Company aircraft to its former CEO and current Chairman of the Board at a price equivalent to the purchase price. In January 2019, the transaction to purchase the aircraft and sell the aircraft for $16 million was closed.

Impairments and Other Charges

Impairments and Other Charges	12 Months Ended
	Dec. 31, 2018
Asset Impairments and Other Charges [Abstract]
Impairment and Other Charges	Impairments and Other Charges Impairments During May 2017, the Company performed an in-depth review of its operations, including its current development pipeline and long-term development plan. In connection with such review, the Company updated its current and long-term development plan to focus on (i) selling existing finished inventory and (ii) procuring inventory from efficient sources such as Just-in-Time inventory in new markets and reclaiming inventory from owners’ associations or owners. As a result, the Company’s management performed a review of its land held for VOI development. Such review consisted of an assessment on 19 locations to determine its plan for future VOI development at those sites. As a result of this assessment, the Company concluded that no future development would occur at 17 locations, of which 16 were deemed to be impaired. The Company performed a fair value assessment on the land held for VOI development which resulted in a $121 million non-cash impairment charge during the second quarter of 2017. In addition, the Company also recorded a $14 million non-cash impairment charge relating to the write-off of construction in process costs at six of the 16 impaired locations. As a result, the Company reported a total non-cash impairment charge of $135 million , which is included within Asset impairments on the Consolidated Statements of Income. In conjunction with this review and impairment, in May 2017, the Company sold three of the 17 locations, as well as non-core revenue generating assets to a former executive of the Company for $2 million of cash consideration, which resulted in a $7 million loss. The Company also has an agreement with the former executive to sell an additional two of the 17 locations for $2 million , resulting in a $13 million non-cash impairment charge. Such transaction is to be completed within six months of the Company meeting certain transferability requirements. The $7 million loss and $13 million non-cash impairment charge on the expected sale were included within the total non-cash impairment charge of $135 million . During the third quarter of 2018, the Company sold a property located in Las Vegas, Nevada which was previously impaired by $27 million as part of the aforementioned fair value assessment on the land held for VOI development during the second quarter of 2017. The Company received net proceeds of $11 million , resulting in a gain on sale of $8 million , which is included within Asset impairments on the Consolidated Statements of Income. As a result of changes in market conditions, the Company updated its long-term development goals during the third quarter of 2018 which resulted in $4 million of additional impairment charges on previously impaired properties. This additional impairment expense and the Las Vegas impairment reversal, resulted in a net impairment reversal of $4 million during 2018. During 2017, the Company incurred a $5 million non-cash impairment charge related to the write-down of assets resulting from the decision to abandon a new product initiative at the Company’s vacation ownership business. Such charge is recorded within Asset impairments on the Consolidated Statements of Income. During 2017, the Company incurred $65 million of non-cash impairment charges resulting from a disruption to VOI sales caused by the impact of the hurricanes on Saint Thomas, U.S. Virgin Islands at its vacation ownership business. The charges were comprised of a $37 million charge due to a write-down of property and equipment to fair value resulting from the consolidation of the Saint Thomas SPE and a $28 million charge due to a write-down of VOI inventory to its fair value. Such charge is recorded within Asset impairments on the Consolidated Statements of Income. Other Charges During 2016, the Company incurred a $24 million foreign exchange loss, primarily impacting cash, resulting from the Venezuelan government’s decision to devalue the exchange rate of its currency. Such loss is recorded within Operating expenses on the Consolidated Statements of Income. Refer to Note 24 — Separation and Transaction Costs , for discussion of the additional 2018 impairment associated with the spin-off of Wyndham Hotels.

Restructuring

Restructuring	12 Months Ended
	Dec. 31, 2018
Restructuring Charges [Abstract]
Restructuring	Restructuring 2018 Restructuring Plans During 2018, the Company recorded $16 million of charges related to restructuring initiatives, all of which are personnel-related resulting from a reduction of approximately 500 employees. This action was primarily focused on enhancing organizational efficiency and rationalizing operations. The charges consisted of (i) $11 million at the Vacation Ownership segment, (ii) $4 million at the Exchange & Rentals segment, and (iii) $1 million at the Company’s corporate operations. During 2018, the Company reduced its restructuring liability by $4 million of cash payments. The remaining 2018 restructuring liability of $12 million is expected to be paid by the end of 2019 . 2017 Restructuring Plans During 2017, the Company recorded $14 million of charges related to restructuring initiatives, all of which were personnel-related resulting from a reduction of approximately 200 employees. The charges consisted of (i) $8 million at its Exchange & Rentals segment which primarily focused on enhancing organizational efficiency and rationalizing its operations, and (ii) $6 million at the Company’s corporate operations which focused on rationalizing its sourcing function and outsourcing certain information technology functions. During 2017, the Company reduced its restructuring liability by $11 million , of which $9 million was in cash payments and $1 million was through the issuance of Wyndham stock. During 2018, the Company reduced its restructuring liability by $3 million of cash payments. The 2017 restructuring liability was paid in full as of December 31, 2018. 2016 Restructuring Plans During 2016, the Company recorded $12 million of charges related to restructuring initiatives, primarily focused on enhancing organizational efficiency and rationalizing existing facilities which included the closure of four vacation ownership sales offices. In connection with these initiatives, the Company initially recorded $8 million of personnel-related costs resulting from a reduction of approximately 450 employees, $4 million at both the Vacation Ownership and the Exchange & Rentals segments. The Vacation Ownership segment also incurred a $2 million non-cash asset impairment charge resulting from the write-off of assets from sales office closures, and $2 million of facility-related expenses. In both 2016 and 2017, the Company reduced its liability with $5 million of cash payments. During 2018, the Company reduced its liability with $1 million in cash payments. As of December 31, 2018 , the remaining liability of less than $1 million , all of which is related to leased facilities, is expected to be paid by the end of 2020. The Company has additional restructuring plans which were implemented prior to 2016. During 2018 the Company reduced its liability for such plans with less than $1 million of cash payments, and $1 million of cash payments in each of 2017 and 2016, respectively. As of December 31, 2018 , the remaining liability of less than $1 million , all of which is related to leased facilities, is expected to be paid by 2020. The activity associated with all of the Company’s restructuring plans is summarized by category as follows: Liability as of 2016 Activity Liability as of December 31, 2015 Costs Cash Other December 31, 2016 Personnel-related $ 1 $ 8 $ (5 ) $ — $ 4 Facility-related 2 2 (1 ) — 3 Asset impairment — 2 — (2 ) (a) — $ 3 $ 12 $ (6 ) $ (2 ) $ 7 Liability as of 2017 Activity Liability as of December 31, 2016 Costs Cash Other December 31, 2017 Personnel-related $ 4 $ 14 $ (13 ) $ (1 ) (b) $ 4 Facility-related 3 — (2 ) — 1 $ 7 $ 14 $ (15 ) $ (1 ) $ 5 Liability as of 2018 Activity Liability as of December 31, 2017 Costs Cash Other December 31, 2018 Personnel-related $ 4 $ 16 $ (8 ) $ — $ 12 Facility-related 1 — (1 ) — — $ 5 $ 16 $ (9 ) $ — $ 12 (a) Represents the write-off of assets from sales office closures at the Company's vacation ownership business. (b) Primarily represents the issuance of Wyndham stock.

Transactions with Former Parent

Transactions with Former Parent and Former Subsidiaries	12 Months Ended
	Dec. 31, 2018
Related Party Transaction, Due from (to) Related Party [Abstract]
Transactions with Former Parent and Former Subsidiaries	Separation and Transaction Costs On May 31, 2018 , the Company completed the spin-off of its hotel business. This transaction resulted in operations being held by two separate, publicly traded companies as discussed in Note 1 — Background and Basis of Presentation . Prior to the Spin-off, the Company completed the sale of its European vacation rentals business. During 2018 , the Company incurred $223 million of expenses in connection with the spin-off of the hotel business which are reflected within continuing operations and include related costs of the Spin-off, of which $217 million were related to stock compensation modification expense, severance and other employee costs offset, in part, by favorable foreign currency. In addition, these costs include certain impairment charges related to the separation including property sold to Wyndham Hotels. Additionally, during 2018 , the Company incurred $111 million of separation related expenses in connection with the hotel spin-off and sale of the European vacation rentals business which are reflected within discontinued operations. These expenses include legal, consulting and auditing fees, stock compensation modification expense, severance and other employee-related costs. During 2017, the Company incurred $26 million of expenses associated with the planned spin-off of the hotel business and the exploration of strategic alternatives for the European vacation rentals business which are reflected within continuing operations. Additionally, during this same time period the Company incurred $40 million of separation related costs that are included within discontinued operations. These costs include legal, consulting and auditing fees, stock compensation modification expense, severance and other employee-related costs. Transactions with Former Parent and Former Subsidiaries Matters Related to Cendant Pursuant to the Cendant Separation and Distribution Agreement, the Company entered into certain guarantee commitments with Cendant and Cendant’s former subsidiary, Realogy. These guarantee arrangements primarily relate to certain contingent litigation liabilities, contingent tax liabilities, and Cendant contingent and other corporate liabilities, of which Wyndham Worldwide assumed 37.5% of the responsibility while Cendant’s former subsidiary Realogy is responsible for the remaining 62.5% . As a result of the Wyndham Worldwide separation, Wyndham Hotels agreed to retain one third of Cendant’s contingent and other corporate liabilities and associated costs; therefore, Wyndham Destinations is effectively responsible for 25% of such matters subsequent to the separation. Since Cendant’s separation, Cendant settled the majority of the lawsuits pending on the date of the separation. As of December 31, 2018 , Cendant separation-related liabilities of $18 million are comprised of $13 million for tax related liabilities and $5 million for other contingent and corporate liabilities assumed at the separation date. As of December 31, 2017 , the Company had $16 million of Cendant separation-related liabilities. These liabilities were recorded within Accrued expenses and other liabilities on the Consolidated Balance Sheet. Matters Related to Wyndham Hotels In connection with the spin-off of the hotel business on May 31, 2018, Wyndham Destinations entered into several agreements with Wyndham Hotels that govern the relationship of the parties following the distribution including the Separation and Distribution Agreement, the Employee Matters Agreements, the Tax Matters Agreement, the Transition Services Agreement and the License, Development and Noncompetition Agreement. In accordance with these agreements, Wyndham Destinations assumed two-thirds and Wyndham Hotels assumed one-third of certain contingent corporate liabilities of the Company incurred prior to the distribution, including liabilities of the Company related to certain terminated or divested businesses, certain general corporate matters, and any actions with respect to the separation plan. Likewise, Wyndham Destinations is entitled to receive two-thirds and Wyndham Hotels is entitled to receive one-third of the proceeds from certain contingent corporate assets of the Company arising or accrued prior to the distribution. The Company conveyed the lease for its former corporate headquarters located in Parsippany, New Jersey to Wyndham Hotels, which resulted in the removal of a $66 million capital lease obligation and a $43 million asset from the Consolidated Balance Sheet. Wyndham Destinations entered into a transition service agreement with Wyndham Hotels, pursuant to which the companies agreed to provide each other certain transitional services including human resources, facilities, payroll, tax, information technology, information management and related services, treasury, finance, sourcing, and employee benefits administration on an interim, transitional basis. For 2018, transition service agreement expenses were $8 million and transition service agreement income was $6 million . Matters Related to the European Vacation Rentals Business In connection with the sale of the European vacation rentals business, the Company and Wyndham Hotels agreed to post-closing credit support for the benefit of certain credit card service providers, a British travel association, and certain regulatory authorities to allow them to continue providing services or regulatory approval to the business. Such post-closing credit support included a guarantee of up to $180 million through June 30, 2019, which has an estimated fair value of $2 million . Such post-closing credit support may be called if the business fails to meet its primary obligation to pay amounts when due. The Buyer has provided an indemnification to Wyndham Destinations in the event that the post-closing credit support (other than the guarantee by Wyndham Destinations of up to $180 million ) is enforced or called upon. At closing, the Company agreed to provide additional post-closing credit support to a British travel association and regulatory authority. An escrow was established at closing, of which $46 million was subsequently released in exchange for a secured bonding facility and a perpetual guarantee of $46 million . The estimated fair value of the guarantee was $22 million at December 31, 2018 . The Company established a $7 million receivable from Wyndham Hotels for their portion of the guarantee. In January 2019, the Company reached an agreement with the Buyer on certain post-closing adjustments, resulting in a reduction of proceeds by $27 million . In accordance with the separation agreement, the Company and Wyndham Hotels agreed to share two–thirds and one–third, respectively, in the European vacation rentals business' final net proceeds (as defined by the sales agreement), adjusted for certain items including the return of the escrow, post–closing adjustments, transaction expenses and estimated taxes. The Company estimated the net payable due to Wyndham Hotels to be approximately $40 million and expects to finalize this estimate and pay it in the second quarter of 2019. In connection with these estimated final adjustments, the Company recorded a $40 million liability and reduced retained earnings accordingly. The Company also deposited $5 million into an escrow account, which will be returned to the Company on May 9, 2019, if the gross limit of the Barclays Bank PLC (“Barclays”) pound sterling cash pooling arrangement with the Buyer remains at least £10 million and security is not demanded by Barclays. If any further security is demanded by Barclays, the Company must pay an additional £1 million into the escrow account. In addition, the Company agreed to indemnify the Buyer against certain claims and assessments, including income tax, value-added tax and other tax matters, related to the operations of the European vacation rentals business for the periods prior to the transaction. The estimated fair value of the indemnifications total $43 million at December 31, 2018 . Wyndham Hotels provided certain post-closing credit support primarily for the benefit of a British travel association in the form of guarantees which are primarily denominated in pound sterling of up to an approximate $81 million on a perpetual basis. The estimated fair value of such guarantees was $39 million at December 31, 2018 . Wyndham Destinations is responsible for two-thirds of these guarantees. Wyndham Hotels is required to maintain minimum credit ratings of Ba2 for Moody’s and BB for S&P. If Wyndham Hotels drops below these minimum credit ratings, Wyndham Destinations would be required to post a letter of credit (or equivalent support) for the amount of the Wyndham Hotels guarantee. The estimated fair value of the guarantees and indemnifications for which Wyndham Destinations is responsible related to the sale of the European vacation rentals business, including the two-thirds portion related to guarantees provided by Wyndham Hotels, totaled $96 million and was recorded in Accrued expenses and other liabilities at December 31, 2018 . A receivable of $23 million was included in Other assets and increased retained earnings accordingly at December 31, 2018 representing the portion of these guarantees and indemnifications for which Wyndham Hotels is responsible. Wyndham Destinations entered into a transition service agreement with the European vacation business, pursuant to which the companies agreed to provide each other certain transitional services including human resources, facilities, payroll, tax, information technology, information management and related services, treasury, finance, and sourcing on an interim, transitional basis. For 2018, transition service agreement expenses were $3 million and transition service agreement income was $3 million . Related Party Transactions During August 2018, the Company provided notification to the owner trustee of the Company’s leased aircraft of its intent to exercise the purchase option for such aircraft at fair market value. In connection with that purchase, the Company entered into an agreement to sell the Company aircraft to its former CEO and current Chairman of the Board at a price equivalent to the purchase price. In January 2019, the transaction to purchase the aircraft and sell the aircraft for $16 million was closed.

Selected Quarterly Financial Da

Selected Quarterly Financial Data - (unaudited)	12 Months Ended
	Dec. 31, 2018
Selected Quarterly Financial Information [Abstract]
Selected Quarterly Financial Data - (unaudited)	Selected Quarterly Financial Data - (unaudited) Provided below is selected unaudited quarterly financial data for 2018 and 2017 . 2018 First (a) Second Third Fourth (in millions, except per share data) Net revenues $ 907 $ 1,007 $ 1,062 $ 956 Total expenses 804 942 865 797 Operating income 103 65 197 159 Income/(loss) from continuing operations 41 (12 ) 131 106 (Loss)/income from operations of discontinued businesses, net of income taxes (7 ) (42 ) (3 ) 2 Income on disposal of discontinued business, net of income taxes — 432 20 4 Net income 34 378 148 112 Basic earnings per share Continuing operations $ 0.41 $ (0.12 ) $ 1.32 $ 1.10 Discontinued operations (0.07 ) 3.90 0.17 0.06 $ 0.34 $ 3.78 $ 1.49 $ 1.16 Diluted earnings per share Continuing operations $ 0.41 $ (0.12 ) $ 1.31 $ 1.10 Discontinued operations (0.07 ) 3.89 0.18 0.06 $ 0.34 $ 3.77 $ 1.49 $ 1.16 Weighted average shares outstanding Basic 100.1 100.0 99.1 96.3 Diluted 100.8 100.3 99.5 96.7 Note: The sum of the quarters may not agree to the Consolidated Statements of Income for the year ended December 31, 2018 due to rounding. (a) Amounts vary from those disclosed in our Quarterly report on form 10-Q for the quarter ended March 31, 2018 due to the results of our former hotel business being classified as discontinued operations in connection with the Spin-off of Wyndham Hotels on May 31, 2018. 2017 First (a) Second Third Fourth (in millions, except per share data) Net revenues $ 883 $ 978 $ 1,015 $ 931 Total expenses 763 933 831 839 Operating income 120 45 184 92 Income from continuing operations 86 14 102 444 Income/(loss) from operations of discontinued businesses, net of income taxes 4 71 162 (28 ) Net income 90 85 264 416 Net income attributable to noncontrolling interest — (1 ) — — Net income attributable to Wyndham Destinations shareholders 90 84 264 416 Basic earnings per share Continuing operations $ 0.82 $ 0.13 $ 1.00 $ 4.40 Discontinued operations 0.04 0.68 1.58 (0.28 ) $ 0.86 $ 0.81 $ 2.58 $ 4.12 Diluted earnings per share Continuing operations $ 0.81 $ 0.13 $ 0.99 $ 4.36 Discontinued operations 0.04 0.68 1.58 (0.27 ) $ 0.85 $ 0.81 $ 2.57 $ 4.09 Weighted average shares outstanding Basic 105.2 103.8 102.4 100.9 Diluted 106.0 104.4 102.9 101.8 Note: The sum of the quarters may not agree to the Consolidated Statements of Income for the year ended December 31, 2017 due to rounding. (a) Amounts vary from those disclosed in our Quarterly report on form 10-Q for the quarter ended March 31, 2018 due to the results of our former hotel business being classified as discontinued operations in connection with the Spin-off of Wyndham Hotels on May 31, 2018.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Separation and Transaction Costs	Separation and Transaction Costs On May 31, 2018 , the Company completed the spin-off of its hotel business. This transaction resulted in operations being held by two separate, publicly traded companies as discussed in Note 1 — Background and Basis of Presentation . Prior to the Spin-off, the Company completed the sale of its European vacation rentals business. During 2018 , the Company incurred $223 million of expenses in connection with the spin-off of the hotel business which are reflected within continuing operations and include related costs of the Spin-off, of which $217 million were related to stock compensation modification expense, severance and other employee costs offset, in part, by favorable foreign currency. In addition, these costs include certain impairment charges related to the separation including property sold to Wyndham Hotels. Additionally, during 2018 , the Company incurred $111 million of separation related expenses in connection with the hotel spin-off and sale of the European vacation rentals business which are reflected within discontinued operations. These expenses include legal, consulting and auditing fees, stock compensation modification expense, severance and other employee-related costs. During 2017, the Company incurred $26 million of expenses associated with the planned spin-off of the hotel business and the exploration of strategic alternatives for the European vacation rentals business which are reflected within continuing operations. Additionally, during this same time period the Company incurred $40 million of separation related costs that are included within discontinued operations. These costs include legal, consulting and auditing fees, stock compensation modification expense, severance and other employee-related costs. Transactions with Former Parent and Former Subsidiaries Matters Related to Cendant Pursuant to the Cendant Separation and Distribution Agreement, the Company entered into certain guarantee commitments with Cendant and Cendant’s former subsidiary, Realogy. These guarantee arrangements primarily relate to certain contingent litigation liabilities, contingent tax liabilities, and Cendant contingent and other corporate liabilities, of which Wyndham Worldwide assumed 37.5% of the responsibility while Cendant’s former subsidiary Realogy is responsible for the remaining 62.5% . As a result of the Wyndham Worldwide separation, Wyndham Hotels agreed to retain one third of Cendant’s contingent and other corporate liabilities and associated costs; therefore, Wyndham Destinations is effectively responsible for 25% of such matters subsequent to the separation. Since Cendant’s separation, Cendant settled the majority of the lawsuits pending on the date of the separation. As of December 31, 2018 , Cendant separation-related liabilities of $18 million are comprised of $13 million for tax related liabilities and $5 million for other contingent and corporate liabilities assumed at the separation date. As of December 31, 2017 , the Company had $16 million of Cendant separation-related liabilities. These liabilities were recorded within Accrued expenses and other liabilities on the Consolidated Balance Sheet. Matters Related to Wyndham Hotels In connection with the spin-off of the hotel business on May 31, 2018, Wyndham Destinations entered into several agreements with Wyndham Hotels that govern the relationship of the parties following the distribution including the Separation and Distribution Agreement, the Employee Matters Agreements, the Tax Matters Agreement, the Transition Services Agreement and the License, Development and Noncompetition Agreement. In accordance with these agreements, Wyndham Destinations assumed two-thirds and Wyndham Hotels assumed one-third of certain contingent corporate liabilities of the Company incurred prior to the distribution, including liabilities of the Company related to certain terminated or divested businesses, certain general corporate matters, and any actions with respect to the separation plan. Likewise, Wyndham Destinations is entitled to receive two-thirds and Wyndham Hotels is entitled to receive one-third of the proceeds from certain contingent corporate assets of the Company arising or accrued prior to the distribution. The Company conveyed the lease for its former corporate headquarters located in Parsippany, New Jersey to Wyndham Hotels, which resulted in the removal of a $66 million capital lease obligation and a $43 million asset from the Consolidated Balance Sheet. Wyndham Destinations entered into a transition service agreement with Wyndham Hotels, pursuant to which the companies agreed to provide each other certain transitional services including human resources, facilities, payroll, tax, information technology, information management and related services, treasury, finance, sourcing, and employee benefits administration on an interim, transitional basis. For 2018, transition service agreement expenses were $8 million and transition service agreement income was $6 million . Matters Related to the European Vacation Rentals Business In connection with the sale of the European vacation rentals business, the Company and Wyndham Hotels agreed to post-closing credit support for the benefit of certain credit card service providers, a British travel association, and certain regulatory authorities to allow them to continue providing services or regulatory approval to the business. Such post-closing credit support included a guarantee of up to $180 million through June 30, 2019, which has an estimated fair value of $2 million . Such post-closing credit support may be called if the business fails to meet its primary obligation to pay amounts when due. The Buyer has provided an indemnification to Wyndham Destinations in the event that the post-closing credit support (other than the guarantee by Wyndham Destinations of up to $180 million ) is enforced or called upon. At closing, the Company agreed to provide additional post-closing credit support to a British travel association and regulatory authority. An escrow was established at closing, of which $46 million was subsequently released in exchange for a secured bonding facility and a perpetual guarantee of $46 million . The estimated fair value of the guarantee was $22 million at December 31, 2018 . The Company established a $7 million receivable from Wyndham Hotels for their portion of the guarantee. In January 2019, the Company reached an agreement with the Buyer on certain post-closing adjustments, resulting in a reduction of proceeds by $27 million . In accordance with the separation agreement, the Company and Wyndham Hotels agreed to share two–thirds and one–third, respectively, in the European vacation rentals business' final net proceeds (as defined by the sales agreement), adjusted for certain items including the return of the escrow, post–closing adjustments, transaction expenses and estimated taxes. The Company estimated the net payable due to Wyndham Hotels to be approximately $40 million and expects to finalize this estimate and pay it in the second quarter of 2019. In connection with these estimated final adjustments, the Company recorded a $40 million liability and reduced retained earnings accordingly. The Company also deposited $5 million into an escrow account, which will be returned to the Company on May 9, 2019, if the gross limit of the Barclays Bank PLC (“Barclays”) pound sterling cash pooling arrangement with the Buyer remains at least £10 million and security is not demanded by Barclays. If any further security is demanded by Barclays, the Company must pay an additional £1 million into the escrow account. In addition, the Company agreed to indemnify the Buyer against certain claims and assessments, including income tax, value-added tax and other tax matters, related to the operations of the European vacation rentals business for the periods prior to the transaction. The estimated fair value of the indemnifications total $43 million at December 31, 2018 . Wyndham Hotels provided certain post-closing credit support primarily for the benefit of a British travel association in the form of guarantees which are primarily denominated in pound sterling of up to an approximate $81 million on a perpetual basis. The estimated fair value of such guarantees was $39 million at December 31, 2018 . Wyndham Destinations is responsible for two-thirds of these guarantees. Wyndham Hotels is required to maintain minimum credit ratings of Ba2 for Moody’s and BB for S&P. If Wyndham Hotels drops below these minimum credit ratings, Wyndham Destinations would be required to post a letter of credit (or equivalent support) for the amount of the Wyndham Hotels guarantee. The estimated fair value of the guarantees and indemnifications for which Wyndham Destinations is responsible related to the sale of the European vacation rentals business, including the two-thirds portion related to guarantees provided by Wyndham Hotels, totaled $96 million and was recorded in Accrued expenses and other liabilities at December 31, 2018 . A receivable of $23 million was included in Other assets and increased retained earnings accordingly at December 31, 2018 representing the portion of these guarantees and indemnifications for which Wyndham Hotels is responsible. Wyndham Destinations entered into a transition service agreement with the European vacation business, pursuant to which the companies agreed to provide each other certain transitional services including human resources, facilities, payroll, tax, information technology, information management and related services, treasury, finance, and sourcing on an interim, transitional basis. For 2018, transition service agreement expenses were $3 million and transition service agreement income was $3 million . Related Party Transactions During August 2018, the Company provided notification to the owner trustee of the Company’s leased aircraft of its intent to exercise the purchase option for such aircraft at fair market value. In connection with that purchase, the Company entered into an agreement to sell the Company aircraft to its former CEO and current Chairman of the Board at a price equivalent to the purchase price. In January 2019, the transaction to purchase the aircraft and sell the aircraft for $16 million was closed.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Principles Of Consolidation	PRINCIPLES OF CONSOLIDATION When evaluating an entity for consolidation, the Company first determines whether an entity is a variable interest entity (“VIE”). If the entity is deemed to be a VIE, the Company determines whether it would be the entity’s primary beneficiary and consolidates those VIEs for which the Company would be the primary beneficiary. The Company will also consolidate an entity not deemed a VIE upon determination that we have a controlling financial interest. For entities where the Company does not have a controlling financial interest, the investments in such entities are accounted for using the equity or cost method, as appropriate.
Revenue Recognition and Loyalty Programs	REVENUE RECOGNITION During 2018 the Company adopted the new Revenue from Contracts with Customers guidance utilizing the full retrospective transition method. Refer to Note 3 — Revenue Recognition for full details of the Company’s revenue recognition policies. LOYALTY PROGRAMS The Company earns revenue from its RCI Elite Rewards co–branded credit card program which is primarily generated by cardholder spending and the enrollment of new cardholders. The advance payments received under the program are recognized as a contract liability until the Company’s performance obligations have been satisfied. The program primarily contains two performance obligations: (i) brand performance services, for which revenue is recognized over the contract term on a straight-line basis, and (ii) issuance and redemption of loyalty points, for which revenue is recognized over time based upon the redemption pattern of the loyalty points earned under the program including an estimate of loyalty points that will expire without redemption . Revenues relating to the RCI Elite Rewards program, which are recorded in Other revenues on the Consolidated Statements of Income, amounted to $12 million , $11 million and $12 million during 2018 , 2017 , and 2016 , respectively. Expenses related to this program, which are recorded within Operating expenses on the Consolidated Statements of Income, amounted to $5 million , $6 million , and $6 million during 2018 , 2017 , and 2016 , respectively. The liability associated with the program as of December 31, 2018 and 2017 amounted to $13 million and is included within Deferred income on the Consolidated Balance Sheets. As a result of the spin-off of Wyndham Hotels, the Company has entered into long-term exclusive license agreements to retain its affiliations with one of the industry’s top-rated loyalty programs, Wyndham Rewards. Wyndham Rewards members accumulate points by staying in hotels franchised under one of the Wyndham Hotels brands, and by purchasing everyday services and products utilizing their co-branded credit cards. Members may redeem their points for hotel stays, airline tickets, rental cars, resort vacations, electronics, sporting goods, movie and theme park tickets, gift certificates, vacation ownership maintenance fees and annual membership dues and exchange fees for transactions.
Cash And Cash Equivalents	CASH AND CASH EQUIVALENTS The Company considers highly-liquid investments purchased with an original maturity of three months or less to be cash equivalents.
Restricted Cash	RESTRICTED CASH The largest portion of the Company’s restricted cash relates to securitizations. The remaining portion is comprised of cash held in escrow accounts. Securitizations. In accordance with the contractual requirements of the Company’s various vacation ownership contract receivable securitizations, a dedicated lockbox account, subject to a blocked control agreement, is established for each securitization. At each month end, the total cash in the collection account from the previous month is analyzed and a monthly servicer report is prepared by the Company, which details how much cash should be remitted to the note holders for principal and interest payments, and any cash remaining is transferred by the trustee back to the Company. Additionally, as required by various securitizations, the Company holds an agreed-upon percentage of the aggregate outstanding principal balances of the VOI contract receivables collateralizing the asset-backed notes in a segregated trust (or reserve) account as credit enhancement. Each time a securitization closes and the Company receives cash from the note holders, a portion of the cash is deposited in the reserve account. As of December 31, 2018 , and 2017, restricted cash for securitizations totaled $120 million and $106 million , respectively. Escrow Deposits. Laws in most U.S. states require the escrow of down payments on VOI sales, with the typical requirement mandating that the funds be held in escrow until the rescission period expires. As sales transactions are consummated, down payments are collected and are subsequently placed in escrow until the rescission period has expired. Depending on the state, the rescission period can be as short as three calendar days or as long as 15 calendar days. In certain states, the escrow laws require that 100% of VOI purchaser funds (excluding interest payments, if any), be held in escrow until the deeding process is complete. Where possible, the Company utilizes surety bonds in lieu of escrow deposits. Similarly, laws in certain U.S. states require the escrow of advance deposits received from guests for vacation rental transactions. Such amounts are required to be held in escrow until the legal restriction expires, which varies from state to state.
Receivable Valuation	RECEIVABLE VALUATION Trade receivables The Company provides for estimated bad debts based on its assessment of the ultimate realizability of receivables, considering historical collection experience, the economic environment and specific customer information. When the Company determines that an account is not collectible, the account is written-off to the allowance for doubtful accounts. The following table illustrates the Company’s allowance for doubtful accounts activity from continuing operations for the year ended December 31: 2018 2017 2016 Beginning balance $ 78 $ 68 $ 70 Bad debt expense 75 51 43 Write-offs (49 ) (42 ) (45 ) Translation and other adjustments — 1 — Ending balance $ 104 $ 78 $ 68 Vacation ownership contract receivables In the Vacation Ownership segment, the Company provides for estimated vacation ownership contract receivable defaults at the time of VOI sales by recording a provision for loan losses as a reduction of VOI sales on the Consolidated Statements of Income. The Company assesses the adequacy of the allowance for loan losses based on the historical performance of similar vacation ownership contract receivables. A technique, referred to as static pool analysis, is used that tracks defaults for each year’s sales over the entire life of those contract receivables. Current defaults, past due aging, historical write-offs of contracts and consumer credit scores, Fair Isaac Corporation (“FICO”), are considered in the assessment of borrower’s credit strength and expected loan performance. The Company also considers whether the historical economic conditions are comparable to current economic conditions. If current or expected future conditions differ from the conditions in effect when the historical experience was generated, the Company adjusts the allowance for loan losses to reflect the expected effects of the current environment on the collectability of vacation ownership contract receivables
Inventory	INVENTORY Inventory primarily consists of completed VOIs, VOIs under construction, land held for future VOI development, vacation credits and real estate interests sold subject to conditional repurchase. The Company applies the relative sales value method for relieving VOI inventory and recording the related cost of sales. Under the relative sales value method, cost of sales is recorded using a percentage ratio of total estimated development cost to total estimated VOI revenue, including estimated future revenue and incorporating factors such as changes in prices and the recovery of VOIs generally as a result of contract receivable defaults. The effect of such changes in estimates under the relative sales value method is accounted for in each period using a current-period adjustment to inventory and cost of sales. Inventory is stated at the lower of cost, including capitalized interest, property taxes and certain other carrying costs incurred during the construction process, or estimated fair value less costs to sell. Capitalized interest was $1 million , less than $1 million and $1 million in 2018 , 2017 and 2016 , respectively.
Property And Equipment	PROPERTY AND EQUIPMENT Property and equipment (including leasehold improvements) are recorded at cost, and presented net of accumulated depreciation and amortization. Depreciation, recorded as a component of Depreciation and amortization on the Consolidated Statements of Income, is computed utilizing the straight-line method over the lesser of the lease terms or estimated useful lives of the related assets. Amortization of leasehold improvements, also recorded as a component of depreciation and amortization, is computed utilizing the straight-line method over the lesser of the estimated benefit period of the related assets or the lease terms. Useful lives are generally 30 years for buildings, up to 20 years for leasehold improvements, from up to 30 years for vacation rental properties and from 3 to 7 years for furniture, fixtures and equipment. The Company capitalizes the costs of software developed for internal use in accordance with the guidance for accounting for costs of computer software developed or obtained fo r internal use. Capitalization of software costs developed for internal use commences during the development phase of the pro ject. The Company amortizes software developed or obtained for internal use on a straight-line basis over its estimated useful life, which is generally 3 to 5 years, with the exception of certain enterprise resource planning and reservation and inventory management software, which is generally 10 years . Such amortization commences when the software is substantially ready for use. The net carrying value of software developed or obtained for internal use was $166 million and $198 million as of December 31, 2018 and 2017 , respectively. Capitalized interest was $1 million during 2018 and 2017 , respectively, and $3 million during 2016 .
Derivatives Instruments	DERIVATIVE INSTRUMENTS The Company uses derivative instruments as part of its overall strategy to manage its exposure to market risks primarily associated with fluctuations in foreign currency exchange rates and interest rates. As a matter of policy, the Company does not use derivatives for trading or speculative purposes. All derivatives are recorded at fair value either as assets or liabilities. Changes in fair value of derivatives not designated as hedging instruments and of derivatives designated as fair value hedging instruments are recognized currently in Operating income and net Interest expense, based upon the nature of the hedged item, on the Consolidated Statements of Income. The effective portion of changes in fair value of derivatives designated as cash flow hedging instruments is recorded as a component of other comprehensive income. The ineffective portion is reported immediately in earnings as a component of operating expense, based upon the nature of the hedged item. Amounts included in other comprehensive income are reclassified into earnings in the same period during which the hedged item affects earnings.
Income Taxes	INCOME TAXES The Company recognizes deferred tax assets and liabilities using the asset and liability method, under which deferred tax assets and liabilities are calculated based upon the temporary differences between the financial statement and income tax bases of assets and liabilities using currently enacted tax rates. These differences are based upon estimated differences between the book and tax basis of the assets and liabilities for the Company as of December 31, 2018 and 2017 . The Company recognizes the effects of changes in tax laws, or rates, as a component of income taxes from continuing operations within the period that includes the enactment date. The Company’s deferred tax assets are recorded net of a valuation allowance when, based on the weight of available evidence, it is more likely than not that some portion or all of the recorded deferred tax assets will not be realized in future periods. Decreases to the valuation allowance are recorded as reductions to the Company’s provision for income taxes and increases to the valuation allowance result in additional provision for income taxes. The realization of the Company’s deferred tax assets, net of the valuation allowance, is primarily dependent on estimated future taxable income. A change in the Company’s estimate of future taxable income may require an addition to or reduction from the valuation allowance. For tax positions the Company has taken or expects to take in a tax return, the Company applies a more likely than not threshold, under which the Company must conclude a tax position is more likely than not to be sustained, assuming that the position will be examined by the appropriate taxing authority that has full knowledge of all relevant information, in order to recognize or continue to recognize the benefit. In determining the Company’s provision for income taxes, the Company uses judgment, reflecting its estimates and assumptions, in applying the more likely than not threshold. The Company classifies interest and penalties associated with unrecognized tax benefits as a component of Provision for income taxes on the Consolidated Statements of Income. During 2018, the Financial Accounting Standards Board (“FASB”) issued guidance on the accounting for tax on the global intangible low-taxed income provisions of the recently enacted tax law. These provisions impose a tax on foreign income in excess of a deemed return on tangible assets of foreign corporations. The guidance indicates that the Company is allowed to make an accounting policy choice of either: (i) treating taxes due on future inclusions in taxable income as a current-period expense when incurred (the “period cost method”) or (ii) factoring such amounts into the Company's measurement of its deferred taxes (the “deferred method”). The Company has elected to account for any potential inclusions under the period cost method. During the fourth quarter of 2018, in accordance with the SEC Staff Accounting Bulletin (“SAB”) No. 118 - Income Tax Accounting Implications of the Tax Cuts and Jobs Act, the Company completed its accounting for the tax effects of the U.S. tax reform recorded for 2017.
Advertising Expense	ADVERTISING EXPENSE Advertising costs are generally expensed in the period incurred and are recorded within Marketing expense on the Consolidated Statements of Income. Advertising costs were $27 million , $25 million and $31 million in 2018 , 2017 and 2016 , respectively.
Stock-Based Compensation	STOCK-BASED COMPENSATION In accordance with the guidance for stock-based compensation, the Company measures all stock-based compensation awards using a fair value method and records the related expense in its Consolidated Statements of Income.
Impairment Of Long-Lived Assets	IMPAIRMENT OF LONG-LIVED ASSETS The Company has goodwill and other indefinite-lived intangible assets recorded in connection with business combinations. The Company annually (during the fourth quarter of each year subsequent to completing the Company’s annual forecasting process), or more frequently if circumstances indicate that the value of goodwill may be impaired, reviews the reporting units’ carrying values as required by the guidance for goodwill and other indefinite-lived intangible assets. Under current accounting guidance, goodwill and other intangible assets with indefinite lives are not subject to amortization. However, goodwill and other intangibles with indefinite lives are subject to fair value-based rules for measuring impairment, and resulting write-downs, if any, are reflected in Operating expense. The Company has goodwill recorded at its vacation ownership, exchange, and rentals reporting units. The Company completed its annual goodwill impairment test by performing a qualitative analysis for each of its reporting units as of October 1, 2018 and determined that no impairment exists. The Company also evaluates the recoverability of its other long-lived assets, including property and equipment and amortizable intangible assets, if circumstances indicate impairment may have occurred, pursuant to guidance for impairment or disposal of long-lived assets. This analysis is performed by comparing the respective carrying values of the assets to the current and expected future cash flows, on an undiscounted basis, to be generated from such assets. Property and equipment is evaluated separately within each segment. If such analysis indicates that the carrying value of these assets is not recoverable, the carrying value of such assets is reduced to fair value
Accounting For Restructuring Activities	ACCOUNTING FOR RESTRUCTURING ACTIVITIES The Company’s restructuring activities require it to make significant estimates in several areas including (i) expenses for severance and related benefit costs, (ii) the ability to generate sublease income, as well as its ability to terminate lease obligations, and (iii) contract terminations. The amount that the Company accrued as of December 31, 2018 represents its best estimate of the obligations incurred in connection with these actions, but could change due to various factors including market conditions and the outcome of negotiations with third parties.
Other Income	OTHER INCOME During 2018 , the Company recorded $38 million of income primarily related to (i) value added tax refunds at its Exchange & Rentals segment, (ii) settlements of various business interruption claims, and (iii) co-branded revenue at its Vacation Ownership segment. During 2017 , the Company recorded $28 million of income primarily related to (i) a non-cash gain resulting from the acquisition of a controlling interest in Love Home Swap at its Exchange & Rentals segment, (ii) settlements of various business interruption claims, and (iii) the sale of non-strategic assets at its Vacation Ownership segment. During 2016 , the Company recorded $21 million of income primarily related to (i) settlements of business disruption claims related to the Gulf of Mexico oil spill in 2010, (ii) settlements of various other business interruption claims received, (iii) the sale of non-strategic assets, and (iv) other miscellaneous royalties at its Vacation Ownership segment.
Recently Issued and Adopted Accounting Pronouncements	RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS Leases. In February 2016, the Financial Accounting Standards Board (“FASB”) issued guidance for lease accounting. The guidance requires a lessee to recognize right-of-use (“ROU”) assets and lease liabilities on the balance sheet for all lease obligations and disclose key information about leasing arrangements, such as the amount, timing, and uncertainty of cash flows arising from leases. The guidance requires modified retrospective application and is effective for fiscal years beginning after December 15, 2018 for public companies; however, early adoption is permitted. Entities are allowed to apply the modified retrospective approach (i) retrospectively to each prior reporting period presented in the financial statements with the cumulative-effect adjustment recognized at the beginning of the earliest comparative period presented or (ii) retrospectively at the beginning of the period of adoption on January 1, 2019, through a cumulative-effect adjustment. The Company will adopt this standard as of January 1, 2019 and will apply the modified retrospective approach on this date by recording a cumulative-effect adjustment. Upon adoption the Company will elect the package of practical expedients permitted under the transition guidance within the new standard, which among other things allows us to carryforward the historical lease classification. The Company will also elect the hindsight practical expedient to determine the reasonably certain lease term for existing leases. The Company will make an accounting policy election to keep leases with an initial term of 12 months or less off of the balance sheet. These lease payments will be recognized in the Consolidated Statements of Income on a straight-line basis over the lease term. As a result of the adoption of this guidance, the Company expects to recognize ROU assets of between $155 million and $165 million , and related lease liabilities of between $195 million and $205 million , as of the effective date of adoption, including reclassifications of tenant improvement allowances and deferred rent balances into ROU assets. The adoption of this standard will not have a material impact related to existing leases, therefore a cumulative-effect adjustment will not be recorded. The Company’s operating lease portfolio is comprised of primarily real estate and equipment leases. The Company does not believe this standard will materially impact its consolidated net income or liquidity, nor does it believe this standard will impact debt covenant compliance under our current agreements. Financial Instruments - Credit Losses . In June 2016, the FASB issued guidance which amends the guidance on measuring credit losses on financial assets held at amortized cost. The guidance requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company is currently evaluating the impact of the adoption of this guidance on its financial statements and related disclosures. Simplifying the Test for Goodwill Impairment . In January 2017, the FASB issued guidance which simplifies the current two-step goodwill impairment test by eliminating Step two of the test. The guidance requires a one-step impairment test in which an entity compares the fair value of a reporting unit with its carrying amount and recognizes an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, if any. This guidance is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years, and should be applied on a prospective basis. Early adoption is permitted for the interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently evaluating the impact of the adoption of this guidance on its financial statements and related disclosures. Stock Compensation - Improvements to Nonemployee Share-Based Payment Accounting. In June 2018, the FASB issued guidance intended to simplify nonemployee share-based payment accounting. This new guidance will more closely align the accounting for share-based payment awards issued to employees and nonemployees. This guidance is effective for fiscal years beginning after December 15, 2018 and for interim periods within those fiscal years, with early adoption permitted. The company does not believe the adoption of this guidance will have a material impact on its financial statements and related disclosures. Implementation Costs in Cloud Computing Arrangements. In August 2018, the FASB issued guidance on implementation costs incurred in a cloud computing arrangement that is a service contract. This guidance aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the guidance on capitalizing costs associated with developing or obtaining internal-use software and also adds certain disclosure requirements related to implementation costs incurred for internal-use software and cloud computing arrangements. This guidance is effective for fiscal years beginning after December 15, 2019 and for interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of the adoption of this guidance on its financial statements and related disclosures. In addition, the cumulative impact to the Company’s retained earnings at January 1, 2016, was a decrease of $91 million . Intra-Entity Transfers of Assets Other Than Inventory . In October 2016, the FASB issued guidance which requires companies to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The Company adopted the guidance on January 1, 2018, utilizing the modified retrospective approach, resulting in a cumulative-effect reduction to retained earnings of $19 million . Reporting Comprehensive Income - Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. In February 2018, the FASB issued guidance which allows for the reclassification of the stranded tax effects resulting from the implementation of the Tax Cuts and Jobs Act of 2017 from accumulated other comprehensive income (“AOCI”) to retained earnings. The Company early adopted this guidance in 2018 resulting in an $8 million reclassification from AOCI to Retained Earnings recorded in the period of adoption. The Company's policy for releasing disproportionate income tax effects from AOCI utilizes the aggregate approach. Derivatives and Hedging - Targeted Improvements to Accounting for Hedging Activities. In August 2017, the FASB issued guidance which better aligns an entity’s risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. The guidance expanded and refined hedge accounting for both non-financial and financial risk components and aligned the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. The Company early adopted this guidance in the fourth quarter of 2018 resulting in an immaterial impact to the Consolidated Financial Statements and related disclosures. Clarifying the Definition of a Business . In January 2017, the FASB issued guidance clarifying the definition of a business, which assists entities when evaluating whether transactions should be accounted for as acquisitions of businesses or assets. The Company adopted the guidance in 2018 with no material impact on its Consolidated Financial Statements and related disclosures. Compensation - Stock Compensation. In March 2016, the FASB issued guidance which was intended to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The Company adopted the guidance on January 1, 2017 and elected to use the prospective transition method. As such, the excess tax benefits from stock-based compensation were presented as part of operating activities within its 2018 and 2017 Consolidated Statements of Cash Flows. During 2018 and 2017, excess tax benefits of $10 million and $8 million were recognized within the Provision for income taxes on the Consolidated Statements of Income. In May 2017, the FASB issued guidance which provides clarification on when modification accounting should be used for changes to the terms or conditions of a share-based payment award. The Company adopted the guidance in 2018 with no material impact on its Consolidated Financial Statements and related disclosures. Statement of Cash Flows . In August 2016, the FASB issued guidance intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. The Company adopted the guidance in 2018. Restricted Cash . In November 2016, the FASB issued guidance which requires amounts generally described as restricted cash be included with cash and cash equivalents when reconciling the total beginning and ending amounts for the periods shown on the statement of cash flows. The Company adopted the guidance in 2018 using a retrospective transition method. The impact of this guidance resulted in escrow deposits and restricted cash being included with Cash, cash equivalents and restricted cash on the Consolidated Statements of Cash Flows. RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS Revenue from Contracts with Customers. In May 2014, the FASB issued guidance on revenue from contracts with customers. The guidance outlined a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The guidance also requires disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company adopted the guidance on January 1, 2018 utilizing the full retrospective transition method with minimal impact on the Company’s continuing operations.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Summary of Activity of Allowance For Doubtful Accounts	The following table illustrates the Company’s allowance for doubtful accounts activity from continuing operations for the year ended December 31: 2018 2017 2016 Beginning balance $ 78 $ 68 $ 70 Bad debt expense 75 51 43 Write-offs (49 ) (42 ) (45 ) Translation and other adjustments — 1 — Ending balance $ 104 $ 78 $ 68
Schedule of Impact of Adoption	The tables below summarize the impact of the adoption of the new revenue standard and reclassifications related to discontinued operations on the Company’s Consolidated Income Statements: For the year ended December 31, 2017 Net revenues Previously Reported Balance Discontinued Operations (a) New Revenue Standard Adjustment As Reported Vacation ownership interest sales $ 1,689 $ — $ (5 ) $ 1,684 Service and membership fees 1,895 (269 ) (27 ) 1,599 Franchise fees 695 (695 ) — — Consumer financing 463 — — 463 Other 334 (297 ) 23 60 Net revenues 5,076 (1,261 ) (9 ) 3,806 Expenses Operating 2,194 (523 ) (35 ) 1,636 Cost of vacation ownership interests 150 — — 150 Consumer financing interest 74 — — 74 Marketing and reservation 773 (247 ) 20 546 General and administrative 648 (75 ) 7 580 Separation and related costs 51 (25 ) — 26 Asset impairments 246 (41 ) — 205 Restructuring 15 (1 ) — 14 Depreciation and amortization 213 (77 ) — 136 Total expenses 4,364 (989 ) (8 ) 3,367 Operating income 712 (272 ) (1 ) 439 Other (income), net (27 ) (1 ) — (28 ) Interest expense 156 (1 ) — 155 Interest (income) (7 ) 1 — (6 ) Income before income taxes 590 (271 ) (1 ) 318 (Benefit) from income taxes (229 ) (101 ) 2 (b) (328 ) Income from continuing operations 819 (170 ) (3 ) 646 Income from operations of discontinued businesses, net of income taxes 53 170 (14 ) 209 Net income 872 — (17 ) 855 Net income attributable to noncontrolling interest (1 ) — — (1 ) Net income attributable to Wyndham Destinations shareholders $ 871 $ — $ (17 ) $ 854 Basic earnings per share Continuing operations $ 7.94 $ (1.65 ) $ (0.03 ) $ 6.26 Discontinued operations 0.52 1.65 (0.14 ) 2.03 $ 8.46 $ — $ (0.17 ) $ 8.29 Diluted earnings per share Continuing operations $ 7.89 $ (1.64 ) $ (0.03 ) $ 6.22 Discontinued operations 0.51 1.64 (0.13 ) 2.02 $ 8.40 $ — $ (0.16 ) $ 8.24 (a) Excludes the impact of the new revenue standard. (b) Includes a $3 million deferred tax provision resulting from a reduction in deferred tax assets recorded in connection with the retrospective adoption of the new revenue standard and the impact of the lower U.S. corporate income tax rate from the enactment of the U.S. Tax Cuts and Jobs Act . For the year ended December 31, 2016 Net revenues Previously Reported Balance Discontinued Operations (a) New Revenue Standard As Reported Vacation ownership interest sales $ 1,606 $ — $ (5 ) $ 1,601 Service and membership fees 1,879 (275 ) (19 ) 1,585 Franchise fees 677 (677 ) — — Consumer financing 440 — — 440 Other 324 (280 ) 22 66 Net revenues 4,926 (1,232 ) (2 ) 3,692 Expenses Operating 2,144 (507 ) (30 ) 1,607 Cost of vacation ownership interests 146 — — 146 Consumer financing interest 75 — — 75 Marketing and reservation 740 (259 ) 18 499 General and administrative 631 (70 ) 7 568 Restructuring 14 (2 ) — 12 Depreciation and amortization 202 (75 ) — 127 Total expenses 3,952 (913 ) (5 ) 3,034 Operating income 974 (319 ) 3 658 Other (income), net (21 ) — — (21 ) Interest expense 133 — — 133 Early extinguishment of debt 11 — — 11 Interest (income) (7 ) — — (7 ) Income before income taxes 858 (319 ) 3 542 Provision for income taxes 313 (124 ) 1 190 Income from continuing operations 545 (195 ) 2 352 Income from operations of discontinued businesses, net of income taxes 67 195 (2 ) 260 Net income 612 — — 612 Net income attributable to noncontrolling interest (1 ) — — (1 ) Net income attributable to Wyndham Destinations shareholders $ 611 $ — $ — $ 611 Basic earnings per share Continuing operations $ 4.96 $ (1.78 ) $ 0.01 $ 3.19 Discontinued operations 0.60 1.78 (0.01 ) 2.37 $ 5.56 $ — $ — $ 5.56 Diluted earnings per share Continuing operations $ 4.93 $ (1.77 ) $ 0.01 $ 3.17 Discontinued operations 0.60 1.77 (0.02 ) 2.35 $ 5.53 $ — $ (0.01 ) (b) $ 5.52 (a) Excludes the impact of the new revenue standard. (b) EPS includes impact of net income attributable to Wyndham Destinations shareholders which rounds to zero . The table below summarizes the impact of the adoption of the new revenue standard on the Company’s Consolidated Balance Sheet: December 31, 2017 Assets Previously Reported Balance Discontinued Operations (a) New Revenue Standard As Reported Cash and cash equivalents $ 100 $ (52 ) $ — $ 48 Restricted cash 173 (2 ) — 171 Trade receivables, net 385 (194 ) 4 195 Vacation ownership contract receivables, net 2,901 — — 2,901 Inventory 1,249 — — 1,249 Prepaid expenses 144 (27 ) 1 118 Property and equipment, net 1,081 (259 ) — 822 Goodwill 1,336 (425 ) — 911 Other intangibles, net 1,084 (941 ) — 143 Other assets 521 (215 ) 22 328 Assets of discontinued operations and held-for-sale business 1,429 2,115 20 3,564 Total assets $ 10,403 $ — $ 47 $ 10,450 Liabilities and Equity Accounts payable $ 256 $ (24 ) $ — $ 232 Deferred income 657 (139 ) 41 559 Accrued expenses and other liabilities 1,094 (236 ) (11 ) 847 Non-recourse vacation ownership debt 2,098 — — 2,098 Debt 3,909 (1 ) — 3,908 Deferred income taxes 790 (191 ) 14 613 Liabilities of discontinued operations and held-for-sale business 716 591 112 1,419 Total liabilities 9,520 — 156 9,676 Stockholders' equity Preferred stock, $.01 par value, authorized 6,000,000 shares, none issued and outstanding — — — — Common stock, $.01 par value, 600,000,000 shares authorized, 218,796,817 issued in 2017 2 — — 2 Treasury stock, at cost – 118,887,441 shares in 2017 (5,719 ) — — (5,719 ) Additional paid-in capital 3,996 — — 3,996 Retained earnings 2,609 — (108 ) 2,501 Accumulated other comprehensive loss (10 ) — (1 ) (11 ) Total stockholders’ equity 878 — (109 ) 769 Noncontrolling interest 5 — — 5 Total equity 883 — (109 ) 774 Total liabilities and equity $ 10,403 $ — $ 47 $ 10,450 (a) Excludes the impact of the new revenue standard
Summary of The Effect of New Guidance on The Statement of Cash Flows	The tables below summarize the effects of the new statement of cash flows and restricted cash guidance on the Company’s Consolidated Statements of Cash Flows: Year Ended December 31, 2017 Increase/(decrease): Previously Reported Balance Discontinued Operations New Accounting Standard Adjustment As Reported Operating Activities $ 880 $ (486 ) $ 106 $ 500 Investing Activities (362 ) 211 — (151 ) Year Ended December 31, 2017 Previously Reported Balance New Restricted Cash Standard Adjustment As Reported Cash, cash equivalents and restricted cash, beginning of period $ 185 $ 148 $ 333 Cash, cash equivalents and restricted cash, end of period 233 183 416 Year Ended December 31, 2016 Increase/(decrease): Previously Reported Balance Discontinued Operations New Accounting Standard Adjustment As Reported Operating Activities $ 846 $ (522 ) $ 117 $ 441 Investing Activities (259 ) 206 (87 ) (140 ) Year Ended December 31, 2016 Previously Reported Balance New Restricted Cash Standard Adjustment As Reported Cash, cash equivalents and restricted cash, beginning of period $ 171 $ 151 $ 322 Cash, cash equivalents and restricted cash, end of period 185 148 333 The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that comprise the total of the cash, cash equivalents and restricted cash shown within the Consolidated Statements of Cash Flows: December 31, Cash and cash equivalents $ 218 Restricted cash 155 Cash and Restricted cash included in Assets of discontinued operations and held-for-sale business 31 Total cash, cash equivalents and restricted cash $ 404 December 31, Cash and cash equivalents $ 48 Restricted cash 171 Cash and Restricted cash included in Assets of discontinued operations and held-for-sale business 197 Total cash, cash equivalents and restricted cash $ 416

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Schedule of Contract Liabilities	Changes in Contract Liabilities follow: Amount Contract Liabilities as of December 31, 2017 $ 556 Additions 352 Revenue recognized (341 ) Held-for-sale (38 ) Other (10 ) Contract Liabilities as of December 31, 2018 $ 519 Contract liabilities as of December 31, 2018 and 2017 are as follows: Contract Liabilities 2018 2017 Deferred subscription revenue $ 220 $ 229 Deferred VOI trial package revenue 125 108 Deferred VOI incentive revenue 96 102 Deferred exchange-related revenue (a) 56 63 Deferred vacation rental revenue (b) — 38 Deferred co-branded credit card programs revenue 14 13 Deferred other revenue 8 3 Total $ 519 $ 556 (a) Balance includes contractual liabilities to accommodate members for cancellations initiated by the Company due to unexpected events. These amounts are included within Accrued expenses and other liabilities on the Consolidated Balance Sheet. (b) There is $42 million of deferred vacation rental revenue which is included in Liabilities of discontinued operations and held-for-sale business on the Consolidated Balance Sheet for 2018.
Schedule of Performance Obligations	The following table summarizes the remaining performance obligations of the Company’s continuing operations for the twelve month periods set forth below: 2019 2020 2021 Thereafter Total Subscription revenue $ 123 $ 53 $ 24 $ 20 $ 220 VOI trial package revenue 125 — — — 125 VOI incentive revenue 96 — — — 96 Exchange-related revenue 52 2 1 1 56 Co-branded credit card programs revenue 7 4 2 1 14 Other revenue 8 — — — 8 Total $ 411 $ 59 $ 27 $ 22 $ 519
Schedule of Disaggregation of Net Revenues	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: Year Ended December 31, 2018 2017 2016 Vacation Ownership Vacation ownership interest sales $ 1,769 $ 1,684 $ 1,601 Property management fees and reimbursable revenues 665 649 623 Consumer financing 491 463 440 Fee-for-Service commissions 31 24 46 Ancillary revenues 60 61 64 Total Vacation Ownership 3,016 2,881 2,774 Exchange & Rentals Exchange revenues 658 671 665 Vacation rental revenues 170 172 169 Ancillary revenues 90 84 82 Total Exchange & Rentals 918 927 916 Corporate and other Eliminations (3 ) (2 ) 2 Net revenues $ 3,931 $ 3,806 $ 3,692

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2018
Earnings Per Share Reconciliation [Abstract]
Computation Of Basic And Diluted EPS	The following table sets forth the computation of basic and diluted EPS (in millions, except per share data): Year Ended December 31, 2018 2017 2016 Income from continuing operations attributable to Wyndham Destinations shareholders $ 266 $ 645 $ 351 (Loss)/income from operations of discontinued businesses, net of income taxes (50 ) 209 260 Income on disposal of discontinued business, net of income taxes 456 — — Net income attributable to Wyndham Destinations shareholders $ 672 $ 854 $ 611 Basic earnings per share Continuing operations $ 2.69 $ 6.26 $ 3.19 Discontinued operations 4.11 2.03 2.37 $ 6.80 $ 8.29 $ 5.56 Diluted earnings per share Continuing operations $ 2.68 $ 6.22 $ 3.17 Discontinued operations 4.09 2.02 2.35 $ 6.77 $ 8.24 $ 5.52 Basic weighted average shares outstanding 98.9 103.0 109.9 Stock-settled appreciation rights (“SSARs”), RSUs (a) and PSUs (b) 0.3 0.7 0.7 Diluted weighted average shares outstanding 99.2 103.7 110.6 Dividends: Cash dividends per share (c) $ 1.89 $ 2.32 $ 2.00 Aggregate dividends paid to shareholders $ 194 $ 242 $ 223 (a) Excludes 1 million of restricted stock units (“RSUs”) for the year 2016 , which would have been anti-dilutive to EPS. Includes unvested dilutive RSUs which are subject to future forfeitures. (b) As a result of the spin-off of Wyndham Hotels, the Company accelerated the vesting of PSUs. There were no outstanding PSUs as of 2018 . Excludes performance vested restricted stock units (“PSUs”) of 0.5 million and 0.6 million for the years 2017 and 2016 , respectively, as the Company had not met the required performance metrics. (c) For the quarterly period ended March 31, 2018 the Company paid cash dividends of $0.66 , in each of the following periods ended June 30, September 30 and December 31, 2018 , the Company paid cash dividends of $0.41 . For each of the quarterly periods in 2017 and 2016 , the Company paid cash dividends of $0.58 and $0.50 per share, respectively.
Current Stock Repurchase Program	The following table summarizes stock repurchase activity under the current share repurchase program (in millions, except per share data): Shares Cost Average Price Per Share As of December 31, 2017 94.4 $ 4,938 $ 52.32 Repurchases prior to spin-off of Wyndham Hotels 0.9 103 114.89 Repurchases after spin-off of Wyndham Hotels 5.3 221 41.31 As of December 31, 2018 100.6 $ 5,262

Discontinued Operations (Tables

Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The following table presents information regarding certain components of income from discontinued operations, net of income taxes: Year Ended December 31, 2018 2017 2016 Net revenues $ 720 $ 2,022 $ 1,930 Expenses: Operating 343 874 810 Marketing and reservation 200 434 428 General and administrative 71 171 160 Separation and related costs 111 40 — Asset impairments — 41 7 Depreciation and amortization 52 130 125 Total expenses 777 1,690 1,530 Interest expense — 3 3 Interest (income) — (3 ) (1 ) Other (income), net — — (2 ) (Benefit)/provision for income taxes (7 ) 123 140 (Loss)/income from operations of discontinued businesses, net of income taxes (50 ) 209 260 Income on disposal of discontinued business, net of income taxes 456 — — Income on discontinued operations, net of income taxes $ 406 $ 209 $ 260 The following table presents information regarding certain components of cash flows from discontinued operations: Year Ended December 31, 2018 2017 2016 Cash flows provided by operating activities $ 150 $ 486 $ 522 Cash flows (used in) investing activities (626 ) (211 ) (206 ) Cash flows provided by/(used in) financing activities 2,066 (22 ) (12 ) Non-cash items: Depreciation and amortization 52 131 125 Stock-based compensation 22 11 11 Deferred income taxes (23 ) (11 ) 24 Property and equipment additions (38 ) (81 ) (73 ) Net assets of business acquired, net of cash acquired (1,696 ) (142 ) (112 ) Proceeds from sale of businesses and asset sales 1,099 9 — The following table presents the aggregate carrying amounts of the classes of assets and liabilities of discontinued operations: December 31, 2017 Assets Cash and cash equivalents $ 184 Restricted cash 12 Trade receivables, net 493 Property and equipment, net 609 Goodwill 855 Other intangibles, net 1,059 Other assets 352 Total assets of discontinued operations $ 3,564 Liabilities Accounts payable $ 358 Deferred income 436 Accrued expenses and other liabilities 556 Debt 69 Total liabilities of discontinued operations $ 1,419

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule Of Intangible Assets And Goodwill	Intangible assets consisted of: As of December 31, 2018 As of December 31, 2017 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Unamortized Intangible Assets: Goodwill $ 922 $ 911 Trademarks (a) $ 51 $ 47 Amortized Intangible Assets: Management agreements (b) $ 45 $ 24 $ 21 $ 110 $ 48 $ 62 Trademarks (c) 4 4 — 7 5 2 Other (d) 51 14 37 45 13 32 $ 100 $ 42 $ 58 $ 162 $ 66 $ 96 (a) Comprised of various trademarks that the Company has acquired. These trademarks are expected to generate future cash flows for an indefinite period of time. (b) Generally amortized over a period ranging from 10 to 20 years with a weighted average life of 15 years . (c) Generally amortized over a period of 3 to 20 years with a weighted average life of 7 years . (d) Includes customer lists and business contracts, generally amortized over a period ranging from 3 to 15 years , however, during 2018 we obtained new licensing agreements outside of this range, bringing our weighted average life to 22 years .
Changes In Carrying Amount Of Goodwill By Segnent	The changes in the carrying amount of goodwill are as follows: Balance as of December 31, 2017 Adjustments to Goodwill Acquired During 2017 Adjustments to Goodwill During 2018 Foreign Exchange Balance as of December 31, 2018 Vacation Ownership $ 27 $ — $ — $ — $ 27 Exchange & Rentals 884 (4 ) 23 (a) (8 ) 895 Total Company $ 911 $ (4 ) $ 23 $ (8 ) $ 922 (a) Includes $30 million reclassification from discontinued to continuing operations due to reallocation of goodwill which was triggered by segment reassessment resulting from the sale of European vacation rentals; and $7 million reclass of goodwill related to held-for-sale business.
Amortization Expense Related To Intangible Assets By Major Class	Amortization expense relating to amortizable intangible assets is included as a component of Depreciation and amortization on the Consolidated Statements of Income, and was as follows: 2018 2017 2016 Management agreements $ 8 $ 8 $ 8 Other 4 3 3 Total $ 12 $ 11 $ 11
Future Amortization Expenses Of Intangible Assets	Based on the Company’s amortizable intangible assets as of December 31, 2018 , the Company expects related amortization expense as follows: Amount (a) 2019 $ 7 2020 6 2021 6 2022 6 2023 6 (a) Amortization schedule excludes expense associated with intangible assets of the Company’s held-for-sale business of $6 million in 2019, $5 million in 2020 through 2022, and $3 million in 2023.

Income Tax (Tables)

Income Tax (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Tax Provision	The income tax provision consists of the following for the year ended December 31: 2018 2017 2016 Current Federal $ (24 ) $ 29 $ 85 State (6 ) 6 5 Foreign 38 34 28 8 69 118 Deferred Federal 77 (392 ) 62 State 44 (3 ) 14 Foreign 1 (2 ) (4 ) 122 (397 ) 72 Provision/(benefit) for income taxes $ 130 $ (328 ) $ 190
Pre-Tax Income For Domestic And Foreign Operations	Pre-tax income for domestic and foreign operations consisted of the following for the year ended December 31: 2018 2017 2016 Domestic $ 258 $ 343 $ 462 Foreign 138 (25 ) 80 Pre-tax income $ 396 $ 318 $ 542
Current and Non-Current Deferred Income Tax Assets and Liabilities	Deferred income tax assets and liabilities, as of December 31, are comprised of the following: 2018 2017 Deferred income tax assets: Net operating loss carryforward $ 54 $ 48 Foreign tax credit carryforward 81 64 Tax basis differences in assets of foreign subsidiaries 12 13 Accrued liabilities and deferred income 62 95 Provision for doubtful accounts and loan loss reserves for vacation ownership contract receivables 210 192 Other comprehensive income 63 58 Other 34 16 Valuation allowance (a) (89 ) (36 ) Deferred income tax assets 427 450 Deferred income tax liabilities: Depreciation and amortization 192 185 Installment sales of vacation ownership interests 802 737 Estimated VOI recoveries 71 69 Other comprehensive income 45 38 Other 24 8 Deferred income tax liabilities 1,134 1,037 Net deferred income tax liabilities $ 707 $ 587 Reported in: Other assets $ 29 $ 26 Deferred income taxes 736 613 Net deferred income tax liabilities $ 707 $ 587 (a) The valuation allowance of $89 million at December 31, 2018 relates to foreign tax credits, net operating loss carryforwards and certain deferred tax assets of $34 million , $41 million and $14 million , respectively. The valuation allowance of $36 million at December 31, 2017 relates to foreign tax credits, net operating loss carryforwards and certain deferred tax assets of $14 million , $19 million and $3 million , respectively. The valuation allowance will be reduced when and if the Company determines it is more likely than not that the related deferred income tax assets will be realized.
Difference of Effective Income Tax Rate From US Rederal Statutory Rate	The Company’s effective income tax rate differs from the U.S. federal statutory rate as follows for the year ended December 31: 2018 2017 2016 Federal statutory rate 21.0% 35.0% 35.0% State and local income taxes, net of federal tax benefits 1.7 0.7 1.5 Taxes on foreign operations at rates different than U.S. federal statutory rates 2.1 (0.8) (1.9) Taxes on foreign income, net of tax credits 2.7 (2.3) (2.9) Valuation allowance 10.8 (2.5) 1.0 Effect of impairment charges — 6.4 — Impact of U.S. tax reform (5.5) (128.2) — Realized foreign currency losses — (8.3) — Other — (3.1) 2.4 32.8% (103.1)% 35.1% The following table presents the impact of the accounting for the enactment of U.S. tax reform on our provision/benefit for income taxes for the years ended December 31, 2018 and 2017: 2018 2017 Remeasurement of net deferred income tax and uncertain tax liabilities $ (24 ) $ (463 ) One-time mandatory repatriation tax on undistributed historic earnings of foreign subsidiaries 8 42 Valuation allowance established for the impact of the law on certain tax attributes (13 ) 14 Net (benefit) for income taxes impact $ (29 ) $ (407 )
Summary of Activities Related To Unrecognized Tax Benefits	The following table summarizes the activity related to the Company’s unrecognized tax benefits: 2018 2017 2016 Beginning balance $ 28 $ 25 $ 22 Increases related to tax positions taken during a prior period 1 4 — Increases related to tax positions taken during the current period 4 5 5 Decreases related to settlements with taxing authorities — (1 ) — Decreases as a result of a lapse of the applicable statute of limitations (2 ) (2 ) (1 ) Decreases related to tax positions taken during a prior period (3 ) (3 ) (1 ) Ending balance $ 28 $ 28 $ 25

Inventory (Tables)

Inventory (Tables)	12 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
Schedule Of Inventory	Inventory, as of December 31, consisted of: 2018 2017 Land held for VOI development $ 4 $ 4 VOI construction in process 45 25 Inventory sold subject to repurchase 33 43 Completed VOI inventory 797 841 Estimated VOI recoveries 286 279 Exchange & Rentals vacation credits and other 59 57 Total inventory $ 1,224 $ 1,249
Activity Related to Inventory Obligations	In connection with these transactions, the following table summarizes the activity related to the Company’s inventory obligations: Avon Las Vegas Saint Thomas (a) Austin Total December 31, 2016 $ 32 $ 68 $ 98 $ — $ 198 Purchases 1 21 45 94 161 Payments (11 ) (29 ) (76 ) (32 ) (148 ) Non-cash transfer to debt — — (67 ) — (67 ) December 31, 2017 22 60 — 62 144 Purchases — 31 — 1 32 Payments (11 ) (39 ) — (32 ) (82 ) December 31, 2018 $ 11 $ 52 $ — $ 31 $ 94 Reported in 2017: Accrued expenses and other liabilities $ 22 $ 60 $ — $ 62 $ 144 Total inventory obligations $ 22 $ 60 $ — $ 62 $ 144 Reported in 2018: Accrued expenses and other liabilities $ 11 $ 52 $ — $ 31 $ 94 Total inventory obligations $ 11 $ 52 $ — $ 31 $ 94 (a) As a result of consolidation of the Saint Thomas SPE, the inventory obligation is presented within Debt on the Consolidated Balance Sheets.

Vacation Ownership Contract R_2

Vacation Ownership Contract Receivables (Tables)	12 Months Ended
	Dec. 31, 2018
Vacation Ownership Contract Receivables [Abstract]
Current And Long-Term Vacation Ownership Contract Receivables	As of December 31, vacation ownership contract receivables, net consisted of: 2018 2017 Vacation ownership contract receivables: Securitized $ 2,883 $ 2,553 Non-securitized 888 1,039 Vacation ownership contract receivables, gross $ 3,771 $ 3,592 Less: Allowance for loan losses 734 691 Vacation ownership contract receivables, net $ 3,037 $ 2,901
Principal Payments Due On Vacation Ownership Contract Receivables	Principal payments due on the Company’s vacation ownership contract receivables during each of the five years subsequent to December 31, 2018 and thereafter are as follows: Securitized Non - Securitized Total 2019 $ 240 $ 99 $ 339 2020 264 86 350 2021 288 92 380 2022 310 98 408 2023 302 94 396 Thereafter 1,479 419 1,898 $ 2,883 $ 888 $ 3,771
Allowance For Loan Losses On Vacation Ownership Contract Receivables	The activity in the allowance for loan losses on vacation ownership contract receivables was as follows: Amount Allowance for loan losses as of December 31, 2015 $ 581 Provision for loan losses 342 Contract receivables written off, net (302 ) Allowance for loan losses as of December 31, 2016 621 Provision for loan losses 420 Contract receivables write-offs, net (350 ) Allowance for loan losses as of December 31, 2017 691 Provision for loan losses 456 Contract receivables write-offs, net (413 ) Allowance for loan losses as of December 31, 2018 $ 734
Aged Analysis Of Financing Receivables Using Updated FICO Scores	The following table details an aged analysis of financing receivables using the most recently updated FICO scores (based on the policy described above): As of December 31, 2018 700+ 600-699 <600 No Score Asia Pacific Total Current $ 1,996 $ 1,041 $ 166 $ 135 $ 246 $ 3,584 31 - 60 days 22 35 18 6 2 83 61 - 90 days 15 22 13 3 1 54 91 - 120 days 12 17 16 4 1 50 Total $ 2,045 $ 1,115 $ 213 $ 148 $ 250 $ 3,771 As of December 31, 2017 700+ 600-699 <600 No Score Asia Pacific Total Current $ 1,849 $ 1,021 $ 166 $ 133 $ 262 $ 3,431 31 - 60 days 19 32 17 5 2 75 61 - 90 days 9 18 13 3 1 44 91 - 120 days 9 16 15 2 — 42 Total $ 1,886 $ 1,087 $ 211 $ 143 $ 265 $ 3,592

Property And Equipment, Net (Ta

Property And Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Schedule of Property And Equipment	Property and equipment, net, as of December 31, consisted of: 2018 2017 Land $ 30 $ 37 Building and leasehold improvements 588 543 Furniture, fixtures and equipment 250 279 Capitalized software 604 600 Capital leases 12 84 Construction in progress 81 124 Total property and equipment 1,565 1,667 Less: Accumulated depreciation and amortization 853 845 Net property and equipment $ 712 $ 822

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Other Current Assets [Abstract]
Schedule Of Other Assets	Other assets, as of December 31, consisted of: 2018 2017 Deferred costs $ 110 $ 130 Non-trade receivables, net 63 42 Deferred tax asset 29 26 Investments 25 24 Deposits 24 23 Tax receivables 6 42 Other 47 41 $ 304 $ 328

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2018
Accrued Expenses and Other Current Liabilities [Abstract]
Schedule Of Accrued Expenses And Other Liabilities	Accrued expenses and other liabilities, as of December 31, consisted of: 2018 2017 Accrued payroll and related $ 263 $ 273 Accrued taxes 117 75 Payables associated with separation activities 102 14 Inventory sale obligation (a) 94 144 Guarantees 74 2 Accrued advertising and marketing 54 20 Deferred rent 43 47 Accrued interest 39 40 Accrued VOI maintenance fees 31 32 Accrued separation 17 27 Accrued legal settlements 14 25 Restructuring liabilities 12 5 Derivative contract liabilities 9 1 Accrued other 135 142 $ 1,004 $ 847 (a) See Note 11 — Inventory for details

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule Of Long-Term Debt Instruments	The Company’s indebtedness, as of December 31, consisted of: 2018 2017 Non-recourse vacation ownership debt : (a) Term notes (b) $ 1,839 $ 1,219 $800 million bank conduit facility (due April 2020) (c) 518 333 $750 million bank conduit facility (d) — 546 Total $ 2,357 $ 2,098 Debt : (e) $1.5 billion revolving credit facility (due July 2020) (f) $ — $ 395 $1.0 billion secured revolving credit facility (due May 2023) (g) 181 — Commercial paper (h) — 147 $325 million term loan (due March 2021) (f) — 324 $300 million secured term loan B (due May 2025) (i) 296 — $450 million 2.50% senior unsecured notes (due March 2018) (j) — 450 $40 million 7.375% secured notes (due March 2020) (k) 40 40 $250 million 5.625% secured notes (due March 2021) (k) 249 248 $650 million 4.25% secured notes (due March 2022) (k) (l) 649 648 $400 million 3.90% secured notes (due March 2023) (k) (m) 405 406 $300 million 5.40% secured notes (due April 2024) (k) (n) 297 297 $350 million 6.35% secured notes (due October 2025) (k) (o) 341 340 $400 million 5.75% secured notes (due April 2027) (k) (p) 388 396 Capital leases (q) 3 72 Other 32 145 Total $ 2,881 $ 3,908 (a) Represents non-recourse debt that is securitized through bankruptcy-remote special purpose entities (“SPEs”), the creditors of which have no recourse to the Company for principal and interest. These outstanding borrowings (which legally are not liabilities of the Company) are collateralized by $3.03 billion and $2.68 billion of underlying gross vacation ownership contract receivables and related assets (which legally are not assets of the Company) as of December 31, 2018 and 2017 , respectively. (b) The carrying amounts of the term notes are net of debt issuance costs of $21 million and $15 million as of December 31, 2018 and 2017 , respectively. (c) T he Company has borrowing capability under the Sierra Receivable Funding Conduit II 2008-A facility through April 2020. Borrowings under this facility are required to be repaid as the collateralized receivables amortize but no later than May 2021. (d) As of December 2018, this facility was terminated. (e) The carrying amounts of the secured notes and term loan are net of unamortized discounts of $11 million and $14 million as of December 31, 2018 and 2017 , respectively. The carrying amounts of the secured notes and term loan are net of debt issuance costs of $6 million and $5 million as of December 31, 2018 and 2017 , respectively. (f) In connection with the hotel spin-off and entry into new credit facilities, this credit facility and term loan were terminated effective May 31, 2018. (g) As of December 31, 2018 , the weighted average interest rate on borrowing from this facility was 4.42% . (h) The Company’s European and U.S. commercial paper programs were terminated during 2018. (i) Commencing December 31, 2018, this loan requires quarterly principal payments of $750 thousand . (j) The Company repaid these notes in 2018. (k) These notes were previously unsecured; however, with the issuance of the $1.0 billion revolving credit facility and the $300 million term loan B, these notes are now secured by assets and properties as identified in the related security agreement. (l) Includes $1 million and $2 million of unamortized gains from the settlement of a derivative as of both December 31, 2018 and 2017 . (m) Includes $6 million and $8 million of unamortized gains from the settlement of a derivative as of December 31, 2018 and 2017 , respectively. (n) Effective October 1, 2018, the interest rate on these notes were increased from 4.15% to 5.40% as a result of these notes being downgraded subsequent to the spin-off of Wyndham Hotels. (o) Effective October 1, 2018, the interest rate on these notes were increased from 5.10% to 6.35% as a result of these notes being downgraded subsequent to the spin-off of Wyndham Hotels. Includes $7 million and $8 million of unamortized losses from the settlement of a derivative as of December 31, 2018 and 2017 , respectively. (p) Effective October 1, 2018, the interest rate on the note was increased from 4.50% to 5.75% as a result of these notes being downgraded subsequent to the spin-off of Wyndham Hotels. Includes an $8 million decrease and $1 million increase in the carrying value resulting from a fair value hedge derivative as of December 31, 2018 and 2017 , respectively. (q) Decrease is related to conveyance of the lease for Wyndham Worldwide headquarters to Wyndham Hotels as part of the Spin-off. Refer to Note 27 — Transactions with Former Parent and Former Subsidiaries for additional detail.
Summary Of Outstanding Debt Maturities	The Company’s outstanding debt as of December 31, 2018 matures as follows: Non-recourse Vacation Ownership Debt Debt Total Within 1 year $ 195 $ 38 $ 233 Between 1 and 2 years 198 43 241 Between 2 and 3 years 640 252 892 Between 3 and 4 years 200 652 852 Between 4 and 5 years 215 588 803 Thereafter 909 1,308 2,217 $ 2,357 $ 2,881 $ 5,238
Summary Of Available Capacity Under Borrowing Arrangements	As of December 31, 2018 , the available capacity under the Company’s borrowing arrangements was as follows: Non-recourse Conduit Facilities (a) Revolving Credit Facilities (b) Total capacity $ 800 $ 1,000 Less: Outstanding borrowings 518 181 Letters of credit — 35 Available capacity $ 282 $ 784 (a) Consists of the Company’s Sierra Receivable Funding Conduit II 2008-A facility. The capacity of this facility is subject to the Company’s ability to provide additional assets to collateralize additional non-recourse borrowings. (b) Consists of the Company’s $1.0 billion secured revolving credit facility.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2018
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]
Assets And Liabilities Of Vacation Ownership SPEs	The assets and liabilities of these vacation ownership SPEs are as follows: December 31, December 31, Securitized contract receivables, gross (a) $ 2,883 $ 2,553 Securitized restricted cash (b) 120 106 Interest receivables on securitized contract receivables (c) 23 22 Other assets (d) 3 4 Total SPE assets 3,029 2,685 Non-recourse term notes (e)(f) 1,839 1,219 Non-recourse conduit facilities (e) 518 879 Other liabilities (g) 3 2 Total SPE liabilities 2,360 2,100 SPE assets in excess of SPE liabilities $ 669 $ 585 (a) Included in Vacation ownership contract receivables, net on the Consolidated Balance Sheets. (b) Included in Restricted cash on the Consolidated Balance Sheets. (c) Included in Trade receivables, net on the Consolidated Balance Sheets. (d) Primarily includes deferred financing costs for the bank conduit facility and a security investment asset, which is included in Other assets on the Consolidated Balance Sheets. (e) Included in Non-recourse vacation ownership debt on the Consolidated Balance Sheets. (f) Includes deferred financing costs of $21 million and $15 million as of December 31, 2018 and 2017 , respectively, related to non-recourse debt. (g) Primarily includes accrued interest on non-recourse debt, which is included in Accrued expenses and other liabilities on the Consolidated Balance Sheets. The assets and liabilities of the Clearwater, FL property and Saint Thomas property SPEs are as follows: December 31, December 31, Property and equipment, net $ 23 $ 90 Total SPE assets 23 90 Debt (a) 32 131 Total SPE liabilities 32 131 SPE deficit $ (9 ) $ (41 ) (a) Included $32 million and $131 million relating to mortgage notes, which were included in Debt on the Consolidated Balance Sheet as of December 31, 2018 and 2017 , respectively
Summary Of Vacation Ownership Receivables And Other Securitized Assets, Net Of Securitized Liabilities And Allowance For Loan Losses	A summary of total vacation ownership receivables and other securitized assets, net of securitized liabilities and the allowance for loan losses, is as follows: December 31, December 31, SPE assets in excess of SPE liabilities $ 669 $ 585 Non-securitized contract receivables 888 1,039 Less: Allowance for loan losses 734 691 Total, net $ 823 $ 933

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Carrying Amounts And Estimated Fair Values Of Financial Instruments	The carrying amounts and estimated fair values of all other financial instruments are as follows: December 31, 2018 December 31, 2017 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Assets Vacation ownership contract receivables, net (Level 3) $ 3,037 $ 3,662 $ 2,901 $ 3,489 Debt Total debt (Level 2) $ 5,238 $ 4,604 $ 6,006 $ 6,084

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of gain/(loss) amounts recognized In AOCI	The following table summarizes information regarding the gains/(losses) recognized in AOCL for the years ended December 31: 2018 2017 2016 Designated hedging instruments Foreign exchange contracts $ (1 ) $ (2 ) $ —
Summary of gain/(loss) recognized In income	The following table summarizes information regarding the gains/(losses) recognized in income on the Company’s freestanding derivatives for the years ended December 31: 2018 2017 2016 Non-designated hedging instruments Foreign exchange contracts (a) $ 2 $ 1 $ (20 ) (a) Included within Operating expenses on the Consolidated Statements of Income, which is primarily offset by changes in the value of the underlying assets and liabilities.

Commitments And Contingencies (

Commitments And Contingencies (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	Future minimum lease payments required under non-cancelable operating leases are as follows: December 31, 2018 2019 $ 34 2020 30 2021 26 2022 24 2023 22 Thereafter 99 $ 235

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income/(Loss) (Tables)	12 Months Ended
	Dec. 31, 2018
Accumulated Other Comprehensive Income [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of Accumulated Other Comprehensive Income/(Loss) are as follows: Pretax Foreign Currency Translation Adjustments Unrealized Gains/(Losses) on Cash Flow Hedges Defined Benefit Pension Plans Accumulated Other Comprehensive Income/(Loss) Balance as of December 31, 2015 $ (136 ) $ — $ (9 ) $ (145 ) Other comprehensive income/(loss) (81 ) — 2 (79 ) Balance as of December 31, 2016 (217 ) — (7 ) (224 ) Other comprehensive income/(loss) 121 (2 ) 2 121 Balance as of December 31, 2017 (96 ) (2 ) (5 ) (103 ) Other comprehensive income/(loss) before reclassifications (75 ) — 1 (74 ) Amount reclassified to earnings 24 — 6 30 Balance as of December 31, 2018 $ (147 ) $ (2 ) $ 2 $ (147 ) Tax Foreign Currency Translation Adjustments Unrealized Gains/(Losses) on Cash Flow Hedges Defined Benefit Pension Plans Accumulated Other Comprehensive Income/(Loss) Balance as of December 31, 2015 $ 70 $ — $ 3 $ 73 Other comprehensive income/(loss) 45 — (1 ) 44 Balance as of December 31, 2016 115 — 2 117 Other comprehensive income/(loss) (26 ) 2 (1 ) (25 ) Balance as of December 31, 2017 89 2 1 92 Other comprehensive income/(loss) before reclassifications 13 — — 13 Amount reclassified to earnings — — (2 ) (2 ) Balance as of December 31, 2018 $ 102 $ 2 $ (1 ) $ 103 Net of Tax Foreign Currency Translation Adjustments Unrealized Gains/(Losses) on Cash Flow Hedges Defined Benefit Pension Plans Accumulated Other Comprehensive Loss Balance as of December 31, 2015 $ (66 ) $ — $ (6 ) $ (72 ) Other comprehensive income/(loss) (36 ) — 1 (35 ) Balance as of December 31, 2016 (102 ) — (5 ) (107 ) Other comprehensive income/(loss) 95 — 1 96 Balance as of December 31, 2017 (7 ) — (4 ) (11 ) Other comprehensive income/(loss) before reclassifications (62 ) — 1 (61 ) Amount reclassified to earnings 24 — 4 28 Other comprehensive income/(loss) (38 ) — 5 (33 ) Effect of adoption of new accounting principle (a) (8 ) — — (8 ) Balance as of December 31, 2018 $ (53 ) $ — $ 1 $ (52 ) (a) Impact of the Company’s early adoption of new accounting guidance which allows for the reclassification of the stranded tax effects resulting from the implementation of the Tax Cuts and Jobs Act of 2017. This adoption resulted in an $8 million reclassification of tax benefit from AOCI to Retained Earnings.
Reclassification out of Accumulated Other Comprehensive Income	Reclassifications out of AOCL are presented in the following table. Amounts in parenthesis indicate debits to the Consolidated Statements of Income: Twelve Months Ended December 31, 2018 2017 Foreign currency translation adjustments, net Income on disposal of discontinued business, net of income taxes $ (24 ) $ — Net income/(loss) $ (24 ) $ — Defined benefit pension plans, net Income on disposal of discontinued business, net of income taxes $ (4 ) $ — Net income/(loss) $ (4 ) $ —

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2018
Share-based Compensation [Abstract]
Incentive Equity Awards Granted By The Company	The activity related to incentive equity awards granted to the Company’s key employees and senior officers by the Company for the year ended December 31, 2018 consisted of the following: Balance at December 31, 2017 Effect of Spin-off (a) Granted Vested/Exercised Canceled Balance at December 31, 2018 RSUs Number of RSUs 1.6 0.7 0.9 (f) (2.2 ) (e) (0.1 ) 0.9 (b) Weighted average grant price $ 81.18 NM $ 62.34 $ 65.39 $ 72.54 $ 50.54 PSUs Number of PSUs 0.7 0.3 — (1.0 ) — — (c) Weighted average grant price $ 81.77 NM $ — $ 66.42 $ — $ — SSARs Number of SSARs 0.2 — — — — 0.2 (d) Weighted average grant price $ 77.40 $ — $ — $ — $ — $ 34.24 NQs Number of NQs — — 0.8 — — 0.8 (g) Weighted average grant price $ — $ — $ 48.71 $ — $ — $ 48.71 NM- Not meaningful (a) Impact of equity restructuring in connection with the spin-off of Wyndham Hotels. (b) Aggregate unrecognized compensation expense related to RSUs was $32 million as of December 31, 2018 , which is expected to be recognized over a weighted average period of 3.4 years . (c) As a result of the spin-off of Wyndham Hotels, the Company accelerated the vesting of all PSUs, as such there was no unrecognized compensation expense as of December 31, 2018 . (d) There were 0.2 million SSARs that were exercisable as of December 31, 2018 . There was no unrecognized compensation expense as of December 31, 2018 as all SSARS were vested. (e) Primarily reflects accelerated vesting in connection with the spin-off of Wyndham Hotels. (f) Includes 0.2 million shares granted in March 2018. (g) Unrecognized compensation expense for NQs was $5 million as of December 31, 2018 , which is expected to be recognized over a period of 3.4 years .
Weighted Average Grant Date Fair Value Assumptions	Stock Options 2018 Grant date fair value $ 8.48 Grant date strike price $ 48.71 Expected volatility 26.01 % Expected life 4.25 Risk-free interest rate 2.73 % SSARS 2016 Grant date fair value $ 13.70 Grant date strike price $ 71.65 Expected volatility 27.81 % Expected life 5.2 Risk-free interest rate 1.33 % Projected dividend yield 2.79 %

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Summary Of Segment Information	Year Ended December 31, Net revenues 2018 2017 2016 Vacation Ownership $ 3,016 $ 2,881 $ 2,774 Exchange & Rentals 918 927 916 Total reportable segments 3,934 3,808 3,690 Corporate and other (a) (3 ) (2 ) 2 Total Company $ 3,931 $ 3,806 $ 3,692 Year Ended December 31, Reconciliation of Net income to Adjusted EBITDA 2018 2017 2016 Net income attributable to Wyndham Destinations shareholders $ 672 $ 854 $ 611 Net income attributable to noncontrolling interest — 1 1 (Income) on disposal of discontinued business, net of income taxes (456 ) — — Loss/(income) from operations of discontinued businesses, net of income taxes 50 (209 ) (260 ) Provision/(benefit) for income taxes 130 (328 ) 190 Depreciation and amortization 138 136 127 Interest expense 170 155 133 Early extinguishment of debt (b) — — 11 Interest (income) (5 ) (6 ) (7 ) Venezuela currency devaluation — — 24 Executive departure costs — — 6 Separation and related costs (c) 223 26 — Restructuring (d) 16 14 12 Asset impairments (4 ) 205 — Legacy items (e) 1 (6 ) (11 ) Acquisition gain, net — (13 ) — Stock-based compensation 23 53 55 Value-added tax refund (16 ) — — Adjusted EBITDA $ 942 $ 882 $ 892 Year Ended December 31, Adjusted EBITDA 2018 2017 2016 Vacation Ownership $ 731 $ 709 $ 724 Exchange & Rentals 278 268 261 Total reportable segments 1,009 977 985 Corporate and other (a) (67 ) (95 ) (93 ) Total Company $ 942 $ 882 $ 892 (a) Includes the elimination of transactions between segments. (b) Represents costs incurred for the early repurchase of the remaining portion of our 6.00% senior unsecured notes. (c) Includes $105 million and $4 million of stock-based compensation expenses for the periods ending December 31, 2018 and 2017 , respectively. No such expense recognized in 2016 . (d) Includes $1 million of stock-based compensation expense for the year ended 2017. (e) Represents the net benefit from the resolution of and adjustment to certain contingent liabilities resulting from the Company’s separation from Cendant. Year Ended December 31, Segment Assets (a) 2018 2017 2016 Vacation Ownership $ 5,421 $ 5,246 $ 5,060 Exchange & Rentals 1,376 1,472 1,391 Total reportable segments 6,797 6,718 6,451 Corporate and other 158 168 239 Assets held-for-sale 203 — — Total Company $ 7,158 $ 6,886 $ 6,690 Year Ended December 31, Capital Expenditures (a) 2018 2017 2016 Vacation Ownership $ 66 $ 72 $ 67 Exchange & Rentals 25 27 31 Total reportable segments 91 99 98 Corporate and other 8 8 19 Total Company $ 99 $ 107 $ 117 (a) Excludes investment in consolidated subs and assets of discontinued operations.
Schedule Of Geographic Segment Information	The geographic segment information provided below is classified based on the geographic location of the Company’s subsidiaries. United States All Other Countries Total Year Ended or As of December 31, 2018 Net revenues $ 3,500 $ 431 $ 3,931 Net long-lived assets 1,471 272 1,743 Year Ended or As of December 31, 2017 Net revenues $ 3,359 $ 447 $ 3,806 Net long-lived assets 1,581 295 1,876 Year Ended or As of December 31, 2016 Net revenues $ 3,209 $ 483 $ 3,692 Net long-lived assets 1,609 111 1,720

Restructuring (Tables)

Restructuring (Tables)	12 Months Ended
	Dec. 31, 2018
Restructuring Charges [Abstract]
Activity Related To The Restructuring Costs	The activity associated with all of the Company’s restructuring plans is summarized by category as follows: Liability as of 2016 Activity Liability as of December 31, 2015 Costs Cash Other December 31, 2016 Personnel-related $ 1 $ 8 $ (5 ) $ — $ 4 Facility-related 2 2 (1 ) — 3 Asset impairment — 2 — (2 ) (a) — $ 3 $ 12 $ (6 ) $ (2 ) $ 7 Liability as of 2017 Activity Liability as of December 31, 2016 Costs Cash Other December 31, 2017 Personnel-related $ 4 $ 14 $ (13 ) $ (1 ) (b) $ 4 Facility-related 3 — (2 ) — 1 $ 7 $ 14 $ (15 ) $ (1 ) $ 5 Liability as of 2018 Activity Liability as of December 31, 2017 Costs Cash Other December 31, 2018 Personnel-related $ 4 $ 16 $ (8 ) $ — $ 12 Facility-related 1 — (1 ) — — $ 5 $ 16 $ (9 ) $ — $ 12 (a) Represents the write-off of assets from sales office closures at the Company's vacation ownership business. (b) Primarily represents the issuance of Wyndham stock.

Selected Quarterly Financial _2

Selected Quarterly Financial Data - (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Selected Quarterly Financial Information [Abstract]
Summary Of Selected Quarterly Financial Data	Provided below is selected unaudited quarterly financial data for 2018 and 2017 . 2018 First (a) Second Third Fourth (in millions, except per share data) Net revenues $ 907 $ 1,007 $ 1,062 $ 956 Total expenses 804 942 865 797 Operating income 103 65 197 159 Income/(loss) from continuing operations 41 (12 ) 131 106 (Loss)/income from operations of discontinued businesses, net of income taxes (7 ) (42 ) (3 ) 2 Income on disposal of discontinued business, net of income taxes — 432 20 4 Net income 34 378 148 112 Basic earnings per share Continuing operations $ 0.41 $ (0.12 ) $ 1.32 $ 1.10 Discontinued operations (0.07 ) 3.90 0.17 0.06 $ 0.34 $ 3.78 $ 1.49 $ 1.16 Diluted earnings per share Continuing operations $ 0.41 $ (0.12 ) $ 1.31 $ 1.10 Discontinued operations (0.07 ) 3.89 0.18 0.06 $ 0.34 $ 3.77 $ 1.49 $ 1.16 Weighted average shares outstanding Basic 100.1 100.0 99.1 96.3 Diluted 100.8 100.3 99.5 96.7 Note: The sum of the quarters may not agree to the Consolidated Statements of Income for the year ended December 31, 2018 due to rounding. (a) Amounts vary from those disclosed in our Quarterly report on form 10-Q for the quarter ended March 31, 2018 due to the results of our former hotel business being classified as discontinued operations in connection with the Spin-off of Wyndham Hotels on May 31, 2018. 2017 First (a) Second Third Fourth (in millions, except per share data) Net revenues $ 883 $ 978 $ 1,015 $ 931 Total expenses 763 933 831 839 Operating income 120 45 184 92 Income from continuing operations 86 14 102 444 Income/(loss) from operations of discontinued businesses, net of income taxes 4 71 162 (28 ) Net income 90 85 264 416 Net income attributable to noncontrolling interest — (1 ) — — Net income attributable to Wyndham Destinations shareholders 90 84 264 416 Basic earnings per share Continuing operations $ 0.82 $ 0.13 $ 1.00 $ 4.40 Discontinued operations 0.04 0.68 1.58 (0.28 ) $ 0.86 $ 0.81 $ 2.58 $ 4.12 Diluted earnings per share Continuing operations $ 0.81 $ 0.13 $ 0.99 $ 4.36 Discontinued operations 0.04 0.68 1.58 (0.27 ) $ 0.85 $ 0.81 $ 2.57 $ 4.09 Weighted average shares outstanding Basic 105.2 103.8 102.4 100.9 Diluted 106.0 104.4 102.9 101.8 Note: The sum of the quarters may not agree to the Consolidated Statements of Income for the year ended December 31, 2017 due to rounding. (a) Amounts vary from those disclosed in our Quarterly report on form 10-Q for the quarter ended March 31, 2018 due to the results of our former hotel business being classified as discontinued operations in connection with the Spin-off of Wyndham Hotels on May 31, 2018.

Background and Basis Of Prese_2

Background and Basis Of Presentation (Details)	12 Months Ended
	Dec. 31, 2018segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number segments	2

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash desposited in reserve account	$ 120	$ 106
VOI purchaser funds, percentage	100.00%
Escrow deposit	$ 35	65
Loyalty Liability	13	13
Capitalized interest on inventory	1	1	$ 1
Advertising expense	27	25	31
Software developed or obtained for internal use	166	198
Other (income), net	(38)	(28)	(21)
Excess tax benefits	$ 0	0	9
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Rescission period	3 days
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Rescission period	15 days
Building and leasehold improvements
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Useful lives	30 years
Leasehold Improvements [Member] | Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Useful lives	20 years
Vacation Rental Properties | Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Useful lives	30 years
Furniture Fixtures And Equipment | Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Useful lives	3 years
Furniture Fixtures And Equipment | Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Useful lives	7 years
Software Development
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Useful lives	10 years
Software Development | Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Useful lives	3 years
Software Development | Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Useful lives	5 years
Interest Expense
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Software developed or obtained for internal use	$ 1	1	3
Other
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loyalty revenue	12	11	12
Operating Expense
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loyalty expenses	5	6	$ 6
Provision for income tax [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax benefits	$ 10	$ 8
Scenario, Forecast | Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use asset				$ 155
Lease liability				195
Scenario, Forecast | Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use asset				165
Lease liability				$ 205

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Summary of Activity of Allowance For Doubtful Accounts) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allowance for doubtful accounts
Beginning balance	$ 78	$ 68	$ 70
Bad debt expense	75	51	43
Write-offs	(49)	(42)	(45)
Translation and other adjustments	0	1	0
Ending balance	$ 104	$ 78	$ 68

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Impact of Adoption on Condensed Consolidated Income Statement) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net revenues
Net revenues	$ 956	$ 1,062	$ 1,007	$ 907	$ 931	$ 1,015	$ 978	$ 883	$ 3,931	$ 3,806	$ 3,692
Expenses
Operating									1,642	1,636	1,607
Marketing									609	546	499
General and administrative									513	580	568
Separation and related costs									223	26	0
Asset impairments									(4)	205	0
Restructuring									16	14	12
Depreciation and amortization									138	136	127
Total expenses	797	865	942	804	839	831	933	763	3,408	3,367	3,034
Operating income	159	197	65	103	92	184	45	120	523	439	658
Other (income), net									(38)	(28)	(21)
Interest expense									170	155	133
Loss on early extinguishment of debt									0	0	11
Interest (income)									(5)	(6)	(7)
Income before income taxes									396	318	542
Provision/(benefit) for income taxes									130	(328)	190
Income from continuing operations	106	131	(12)	41	444	102	14	86	266	646	352
(Loss)/income from operations of discontinued businesses, net of income taxes	2	(3)	(42)	(7)	(28)	162	71	4	(50)	209	260
Net income	$ 112	$ 148	$ 378	$ 34	416	264	85	90	672	855	612
Net income attributable to noncontrolling interest					0	0	(1)	0	0	(1)	(1)
Net income attributable to Wyndham Destinations shareholders					$ 416	$ 264	$ 84	$ 90	$ 672	$ 854	$ 611
Earnings Per Share [Abstract]
Continuing operations (in dollars per share)	$ 1.10	$ 1.32	$ (0.12)	$ 0.41	$ 4.40	$ 1	$ 0.13	$ 0.82	$ 2.69	$ 6.26	$ 3.19
Discontinued operations	0.06	0.17	3.90	(0.07)	(0.28)	1.58	0.68	0.04	4.11	2.03	2.37
Basic (in dollars per share)	1.16	1.49	3.78	0.34	4.12	2.58	0.81	0.86	6.80	8.29	5.56
Diluted earnings per share
Continuing operations (in dollars per share)	1.10	1.31	(0.12)	0.41	4.36	0.99	0.13	0.81	2.68	6.22	3.17
Continuing operations	0.06	0.18	3.89	(0.07)	(0.27)	1.58	0.68	0.04	4.09	2.02	2.35
Discontinued operations	$ 1.16	$ 1.49	$ 3.77	$ 0.34	$ 4.09	$ 2.57	$ 0.81	$ 0.85	$ 6.77	$ 8.24	$ 5.52
Income tax benefit due to remeasurement of deferred tax assets as result of Tax Cuts And Jobs Act Of 2017										$ 3
Discontinued Operations
Expenses
Separation and related costs									$ 111	40
Vacation ownership interest sales
Net revenues
Net revenues									1,769	1,684	$ 1,601
Expenses
Cost of revenue									183	150	146
Service and membership fees
Net revenues
Net revenues									1,611	1,599	1,585
Franchise fees
Net revenues
Net revenues										0	0
Consumer financing
Net revenues
Net revenues									491	463	440
Expenses
Cost of revenue									88	74	75
Other
Net revenues
Net revenues									$ 60	60	66
Previously Reported
Net revenues
Net revenues										5,076	4,926
Expenses
Operating										2,194	2,144
Marketing										773	740
General and administrative										648	631
Separation and related costs										51
Asset impairments										246
Restructuring										15	14
Depreciation and amortization										213	202
Total expenses										4,364	3,952
Operating income										712	974
Other (income), net										(27)	(21)
Interest expense										156	133
Loss on early extinguishment of debt											11
Interest (income)										(7)	(7)
Income before income taxes										590	858
Provision/(benefit) for income taxes										(229)	313
Income from continuing operations										819	545
(Loss)/income from operations of discontinued businesses, net of income taxes										53	67
Net income										872	612
Net income attributable to noncontrolling interest										(1)	(1)
Net income attributable to Wyndham Destinations shareholders										$ 871	$ 611
Earnings Per Share [Abstract]
Continuing operations (in dollars per share)										$ 7.94	$ 4.96
Discontinued operations										0.52	0.60
Basic (in dollars per share)										8.46	5.56
Diluted earnings per share
Continuing operations (in dollars per share)										7.89	4.93
Continuing operations										0.51	0.60
Discontinued operations										$ 8.40	$ 5.53
Previously Reported | Vacation ownership interest sales
Net revenues
Net revenues										$ 1,689	$ 1,606
Expenses
Cost of revenue										150	146
Previously Reported | Service and membership fees
Net revenues
Net revenues										1,895	1,879
Previously Reported | Franchise fees
Net revenues
Net revenues										695	677
Previously Reported | Consumer financing
Net revenues
Net revenues										463	440
Expenses
Cost of revenue										74	75
Previously Reported | Other
Net revenues
Net revenues										334	324
Restatement Adjustment | Accounting Standards Update 2014-09
Net revenues
Net revenues										(9)	(2)
Expenses
Operating										(35)	(30)
Marketing										20	18
General and administrative										7	7
Separation and related costs										0
Asset impairments										0
Restructuring										0	0
Depreciation and amortization										0	0
Total expenses										(8)	(5)
Operating income										(1)	3
Other (income), net										0	0
Interest expense										0	0
Loss on early extinguishment of debt											0
Interest (income)										0	0
Income before income taxes										(1)	3
Provision/(benefit) for income taxes										2	1
Income from continuing operations										(3)	2
(Loss)/income from operations of discontinued businesses, net of income taxes										(14)	(2)
Net income										(17)	0
Net income attributable to noncontrolling interest										0	0
Net income attributable to Wyndham Destinations shareholders										$ (17)	$ 0
Earnings Per Share [Abstract]
Continuing operations (in dollars per share)										$ (0.03)	$ 0.01
Discontinued operations										(0.14)	(0.01)
Basic (in dollars per share)										(0.17)	0
Diluted earnings per share
Continuing operations (in dollars per share)										(0.03)	0.01
Continuing operations										(0.13)	(0.02)
Discontinued operations										$ (0.16)	$ (0.01)
Restatement Adjustment | Discontinued Operations
Net revenues
Net revenues										$ (1,261)	$ (1,232)
Expenses
Operating										(523)	(507)
Marketing										(247)	(259)
General and administrative										(75)	(70)
Separation and related costs										(25)
Asset impairments										(41)
Restructuring										(1)	(2)
Depreciation and amortization										(77)	(75)
Total expenses										(989)	(913)
Operating income										(272)	(319)
Other (income), net										(1)	0
Interest expense										(1)	0
Loss on early extinguishment of debt											0
Interest (income)										1	0
Income before income taxes										(271)	(319)
Provision/(benefit) for income taxes										(101)	(124)
Income from continuing operations										(170)	(195)
(Loss)/income from operations of discontinued businesses, net of income taxes										170	195
Net income										0	0
Net income attributable to noncontrolling interest										0	0
Net income attributable to Wyndham Destinations shareholders										$ 0	$ 0
Earnings Per Share [Abstract]
Continuing operations (in dollars per share)										$ (1.65)	$ (1.78)
Discontinued operations										1.65	1.78
Basic (in dollars per share)										0	0
Diluted earnings per share
Continuing operations (in dollars per share)										(1.64)	(1.77)
Continuing operations										1.64	1.77
Discontinued operations										$ 0	$ 0
Restatement Adjustment | Vacation ownership interest sales | Accounting Standards Update 2014-09
Net revenues
Net revenues										$ (5)	$ (5)
Expenses
Cost of revenue										0	0
Restatement Adjustment | Vacation ownership interest sales | Discontinued Operations
Net revenues
Net revenues										0	0
Expenses
Cost of revenue										0	0
Restatement Adjustment | Service and membership fees | Accounting Standards Update 2014-09
Net revenues
Net revenues										(27)	(19)
Restatement Adjustment | Service and membership fees | Discontinued Operations
Net revenues
Net revenues										(269)	(275)
Restatement Adjustment | Franchise fees | Accounting Standards Update 2014-09
Net revenues
Net revenues										0	0
Restatement Adjustment | Franchise fees | Discontinued Operations
Net revenues
Net revenues										(695)	(677)
Restatement Adjustment | Consumer financing | Accounting Standards Update 2014-09
Net revenues
Net revenues										0	0
Expenses
Cost of revenue										0	0
Restatement Adjustment | Consumer financing | Discontinued Operations
Net revenues
Net revenues										0	0
Expenses
Cost of revenue										0	0
Restatement Adjustment | Other | Accounting Standards Update 2014-09
Net revenues
Net revenues										23	22
Restatement Adjustment | Other | Discontinued Operations
Net revenues
Net revenues										$ (297)	$ (280)

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Impact of Adoption on Condensed Consolidated Balance Sheet) (Details) - USD ($) $ in Millions	1 Months Ended
	Feb. 28, 2018	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents		$ 218		$ 48
Restricted cash (VIE - $120 and $106)		155		171
Trade receivables, net		121		195
Vacation ownership contract receivables, net (VIE - $2,883 and $2,553)		3,037		2,901
Inventory		1,224		1,249
Prepaid expenses		153		118
Property and equipment, net		712		822
Goodwill		922		911
Other intangibles, net				143
Other assets		304		328
Assets of discontinued operations and held-for-sale business		203		3,564
Total assets		7,158		10,450
Liabilities and Equity
Accounts payable		66		232
Deferred income		518		559
Accrued expenses and other liabilities		1,004		847
Non-recourse vacation ownership debt (VIE)		2,357		2,098
Debt		2,881		3,908
Deferred income taxes		736		613
Liabilities of discontinued operations and held-for-sale business		165		1,419
Total liabilities		7,727		9,676
Stockholders' (deficit)/equity:
Preferred stock, $.01 par value, authorized 6,000,000 shares, none issued and outstanding		0		0
Common stock, $.01 par value, 600,000,000 shares authorized, 218,796,817 issued in 2017		2		2
Treasury stock, at cost – 118,887,441 shares in 2017		(6,043)		(5,719)
Additional paid-in capital		4,077		3,996
Retained earnings		1,442		2,501
Accumulated other comprehensive loss		(52)		(11)
Total stockholders’ (deficit)/equity		(574)		769
Noncontrolling interest		5		5
Total (deficit)/equity		(569)		774	$ 633		$ 953
Total liabilities and (deficit)/equity		7,158		10,450
Beginning balance adjustment due to change in accounting principle		$ (17)	$ 19			$ 91	$ (89)
Reclassification from AOCI, Current Period, Tax	$ 8
Previously Reported
Assets
Cash and cash equivalents				100
Restricted cash (VIE - $120 and $106)				173
Trade receivables, net				385
Vacation ownership contract receivables, net (VIE - $2,883 and $2,553)				2,901
Inventory				1,249
Prepaid expenses				144
Property and equipment, net				1,081
Goodwill				1,336
Other intangibles, net				1,084
Other assets				521
Assets of discontinued operations and held-for-sale business				1,429
Total assets				10,403
Liabilities and Equity
Accounts payable				256
Deferred income				657
Accrued expenses and other liabilities				1,094
Non-recourse vacation ownership debt (VIE)				2,098
Debt				3,909
Deferred income taxes				790
Liabilities of discontinued operations and held-for-sale business				716
Total liabilities				9,520
Stockholders' (deficit)/equity:
Preferred stock, $.01 par value, authorized 6,000,000 shares, none issued and outstanding				0
Common stock, $.01 par value, 600,000,000 shares authorized, 218,796,817 issued in 2017				2
Treasury stock, at cost – 118,887,441 shares in 2017				(5,719)
Additional paid-in capital				3,996
Retained earnings				2,609
Accumulated other comprehensive loss				(10)
Total stockholders’ (deficit)/equity				878
Noncontrolling interest				5
Total (deficit)/equity				883
Total liabilities and (deficit)/equity				10,403
Restatement Adjustment
Stockholders' (deficit)/equity:
Preferred stock, $.01 par value, authorized 6,000,000 shares, none issued and outstanding				0
Common stock, $.01 par value, 600,000,000 shares authorized, 218,796,817 issued in 2017				0
Treasury stock, at cost – 118,887,441 shares in 2017				0
Additional paid-in capital				0
Retained earnings				0
Accumulated other comprehensive loss				0
Total stockholders’ (deficit)/equity				0
Noncontrolling interest				0
Total (deficit)/equity				0
Total liabilities and (deficit)/equity				0
Restatement Adjustment | Discontinued Operations
Assets
Cash and cash equivalents				(52)
Restricted cash (VIE - $120 and $106)				(2)
Trade receivables, net				(194)
Vacation ownership contract receivables, net (VIE - $2,883 and $2,553)				0
Inventory				0
Prepaid expenses				(27)
Property and equipment, net				(259)
Goodwill				(425)
Other intangibles, net				(941)
Other assets				(215)
Assets of discontinued operations and held-for-sale business				2,115
Total assets				0
Liabilities and Equity
Accounts payable				(24)
Deferred income				(139)
Accrued expenses and other liabilities				(236)
Non-recourse vacation ownership debt (VIE)				0
Debt				(1)
Deferred income taxes				(191)
Liabilities of discontinued operations and held-for-sale business				591
Total liabilities				0
Restatement Adjustment | Accounting Standards Update 2014-09
Assets
Cash and cash equivalents				0
Restricted cash (VIE - $120 and $106)				0
Trade receivables, net				4
Vacation ownership contract receivables, net (VIE - $2,883 and $2,553)				0
Inventory				0
Prepaid expenses				1
Property and equipment, net				0
Goodwill				0
Other intangibles, net				0
Other assets				22
Assets of discontinued operations and held-for-sale business				20
Total assets				47
Liabilities and Equity
Accounts payable				0
Deferred income				41
Accrued expenses and other liabilities				(11)
Non-recourse vacation ownership debt (VIE)				0
Debt				0
Deferred income taxes				14
Liabilities of discontinued operations and held-for-sale business				112
Total liabilities				156
Stockholders' (deficit)/equity:
Preferred stock, $.01 par value, authorized 6,000,000 shares, none issued and outstanding				0
Common stock, $.01 par value, 600,000,000 shares authorized, 218,796,817 issued in 2017				0
Treasury stock, at cost – 118,887,441 shares in 2017				0
Additional paid-in capital				0
Retained earnings				(108)
Accumulated other comprehensive loss				(1)
Total stockholders’ (deficit)/equity				(109)
Noncontrolling interest				0
Total (deficit)/equity				(109)
Total liabilities and (deficit)/equity				$ 47

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Schedule of Statement of Cash Flows) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
New Accounting Pronouncement, Early Adoption [Line Items]
Net cash provided by operating activities - continuing operations	$ 292	$ 500	$ 441
Cash used in investing activities - continuing operations	(99)	(151)	(140)
Cash, cash equivalents and restricted cash, beginning of period	416	333	322
Cash, cash equivalents and restricted cash, end of period	404	416	333
Cash and cash equivalents	218	48
Restricted cash (VIE - $120 and $106)	155	171
Cash and Restricted cash included in Assets of discontinued operations and held-for-sale business	31	197
Total cash, cash equivalents and restricted cash	404	416
Other Current Assets
New Accounting Pronouncement, Early Adoption [Line Items]
Restricted cash (VIE - $120 and $106)	155	171
Previously Reported
New Accounting Pronouncement, Early Adoption [Line Items]
Net cash provided by operating activities - continuing operations		880	846
Cash used in investing activities - continuing operations		(362)	(259)
Cash, cash equivalents and restricted cash, beginning of period	233	185	171
Cash, cash equivalents and restricted cash, end of period		233	185
Cash and cash equivalents		100
Restricted cash (VIE - $120 and $106)		173
Restatement Adjustment | Accounting Standards Update 2016-18
New Accounting Pronouncement, Early Adoption [Line Items]
Net cash provided by operating activities - continuing operations		106	117
Cash used in investing activities - continuing operations		0	(87)
Cash, cash equivalents and restricted cash, beginning of period	$ 183	148	151
Cash, cash equivalents and restricted cash, end of period		183	148
Restatement Adjustment | Discontinued Operations
New Accounting Pronouncement, Early Adoption [Line Items]
Net cash provided by operating activities - continuing operations		(486)	(522)
Cash used in investing activities - continuing operations		211	$ 206
Cash and cash equivalents		(52)
Restricted cash (VIE - $120 and $106)		$ (2)

Summary of Significant Accoun_9

Summary of Significant Accounting Policies (Phantom) (Details) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	6,000,000	6,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in shares)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	600,000,000	600,000,000
Common Stock, Shares, Issued (in shares)	220,120,808	218,796,817
Treasury stock, shares (in shares)	125,137,857	118,887,441

Revenue Recognition (Narrative)

Revenue Recognition (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Non-cash Incentives, Expiration Period									18 months
Term of management services agreements (or less)									1 year
Fees for property management services, budgeted operating expenses, percentage	10.00%								10.00%
Net revenues	$ 956	$ 1,062	$ 1,007	$ 907	$ 931	$ 1,015	$ 978	$ 883	$ 3,931	$ 3,806	$ 3,692
Property management fees and reimbursable revenues | Vacation Ownership
Disaggregation of Revenue [Line Items]
Net revenues									665	649	623
Management Fee Revenue | Vacation Ownership
Disaggregation of Revenue [Line Items]
Net revenues									314	285	273
Reimbursement Revenue | Vacation Ownership
Disaggregation of Revenue [Line Items]
Net revenues									$ 351	$ 364	$ 350

Revenue Recognition (Contract L

Revenue Recognition (Contract Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Contract liabilities	$ 519	$ 556
Deferred subscription revenue
Disaggregation of Revenue [Line Items]
Contract liabilities	220	229
Deferred VOI trial package revenue
Disaggregation of Revenue [Line Items]
Contract liabilities	125	108
Deferred VOI incentive revenue
Disaggregation of Revenue [Line Items]
Contract liabilities	96	102
Deferred exchange-related revenue
Disaggregation of Revenue [Line Items]
Contract liabilities	56	63
Deferred vacation rental revenue
Disaggregation of Revenue [Line Items]
Contract liabilities	0	38
Deferred co-branded credit card programs revenue
Disaggregation of Revenue [Line Items]
Contract liabilities	14	13
Deferred other revenue
Disaggregation of Revenue [Line Items]
Contract liabilities	8	$ 3
Discontinued Operations, Held-for-sale | Deferred vacation rental revenue
Disaggregation of Revenue [Line Items]
Contract liabilities	$ 42

Revenue Recognition (Capitalize

Revenue Recognition (Capitalized Contract Costs) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Vacation Ownership Business
Capitalized Contract Cost [Line Items]
Capitalized contract costs	$ 45	$ 44
Vacation Exchange Business
Capitalized Contract Cost [Line Items]
Capitalized contract costs	$ 22	$ 13

Revenue Recognition (Contract_2

Revenue Recognition (Contract Liabilities Rollforward) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)
Contract With Customer Liability Rollforward [Roll Forward]
Contract Liabilities as of December 31, 2017	$ 556
Additions	352
Revenue recognized	(341)
Held-for-sale	(38)
Other	(10)
Contract Liabilities as of December 31, 2018	$ 519

Revenue Recognition (Performanc

Revenue Recognition (Performance Obligations) (Details) $ in Millions	Dec. 31, 2018USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 411
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | Subscription revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 123
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | VOI trial package revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 125
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | VOI incentive revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 96
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | Exchange-related revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 52
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | Co-branded credit card programs revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | Other revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 59
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | Subscription revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 53
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | VOI trial package revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | VOI incentive revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | Exchange-related revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | Co-branded credit card programs revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | Other revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 27
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | Subscription revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 24
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | VOI trial package revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | VOI incentive revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | Exchange-related revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | Co-branded credit card programs revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | Other revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 22
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | Subscription revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 20
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | VOI trial package revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | VOI incentive revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | Exchange-related revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | Co-branded credit card programs revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | Other revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Remaining performance obligations	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period
Remaining performance obligations	$ 519
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | Subscription revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period
Remaining performance obligations	$ 220
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | VOI trial package revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period
Remaining performance obligations	$ 125
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | VOI incentive revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period
Remaining performance obligations	$ 96
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | Exchange-related revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period
Remaining performance obligations	$ 56
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | Co-branded credit card programs revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period
Remaining performance obligations	$ 14
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | Other revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period
Remaining performance obligations	$ 8

Revenue Recognition (Disaggrega

Revenue Recognition (Disaggregation of Net Revenues) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Net revenues	$ 956	$ 1,062	$ 1,007	$ 907	$ 931	$ 1,015	$ 978	$ 883	$ 3,931	$ 3,806	$ 3,692
Vacation ownership interest sales
Disaggregation of Revenue [Line Items]
Net revenues									1,769	1,684	1,601
Consumer financing
Disaggregation of Revenue [Line Items]
Net revenues									491	463	440
Vacation Ownership | Property management fees and reimbursable revenues
Disaggregation of Revenue [Line Items]
Net revenues									665	649	623
Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues									3,934	3,808	3,690
Operating Segments | Vacation Ownership
Disaggregation of Revenue [Line Items]
Net revenues									3,016	2,881	2,774
Operating Segments | Vacation Ownership | Vacation ownership interest sales
Disaggregation of Revenue [Line Items]
Net revenues									1,769	1,684	1,601
Operating Segments | Vacation Ownership | Property management fees and reimbursable revenues
Disaggregation of Revenue [Line Items]
Net revenues									665	649	623
Operating Segments | Vacation Ownership | Consumer financing
Disaggregation of Revenue [Line Items]
Net revenues									491	463	440
Operating Segments | Vacation Ownership | Fee-for-Service commissions
Disaggregation of Revenue [Line Items]
Net revenues									31	24	46
Operating Segments | Vacation Ownership | Ancillary revenues
Disaggregation of Revenue [Line Items]
Net revenues									60	61	64
Operating Segments | Exchange & Rentals
Disaggregation of Revenue [Line Items]
Net revenues									918	927	916
Operating Segments | Exchange & Rentals | Ancillary revenues
Disaggregation of Revenue [Line Items]
Net revenues									90	84	82
Operating Segments | Exchange & Rentals | Exchange revenues
Disaggregation of Revenue [Line Items]
Net revenues									658	671	665
Operating Segments | Exchange & Rentals | Vacation rental revenues
Disaggregation of Revenue [Line Items]
Net revenues									170	172	169
Eliminations
Disaggregation of Revenue [Line Items]
Net revenues									$ (3)	$ (2)	$ 2

Revenue Recognition Revenue Rec

Revenue Recognition Revenue Recognition (Performance Obligation Narrative) (Details)	Dec. 31, 2018
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period
VOI Vacation Package | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Other revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Other revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Other revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Other revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Other revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period
Deferred exchange-related revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Deferred exchange-related revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Deferred exchange-related revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Deferred exchange-related revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Deferred exchange-related revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - USD ($)	3 Months Ended												12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Earnings Per Share Reconciliation [Abstract]
Common Stock, Dividends, Per Share, Cash Paid	$ 0.41	$ 0.41	$ 0.41	$ 0.66	$ 0.58	$ 0.58	$ 0.58	$ 0.58	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 1.89	$ 2.32	$ 2
Amount authorized under share repurchase program	$ 6,000,000,000												$ 6,000,000,000
Remaining authorized amount under share repurchases	$ 816,000,000												816,000,000
Increase in repurchase capacity													$ 78,000,000

Earnings Per Share (Computation

Earnings Per Share (Computation Of Basic And Diluted EPS) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended												12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
(Loss)/income from operations of discontinued businesses, net of income taxes	$ 2	$ (3)	$ (42)	$ (7)	$ (28)	$ 162	$ 71	$ 4					$ (50)	$ 209	$ 260
Income on disposal of discontinued business, net of income taxes	$ 4	$ 20	$ 432	$ 0									456	0	0
Net income attributable to Wyndham Destinations shareholders					$ 416	$ 264	$ 84	$ 90					$ 672	$ 854	$ 611
Basic earnings per share
Continuing operations (in dollars per share)	$ 1.10	$ 1.32	$ (0.12)	$ 0.41	$ 4.40	$ 1	$ 0.13	$ 0.82					$ 2.69	$ 6.26	$ 3.19
Discontinued operations (in dollars per share)	0.06	0.17	3.90	(0.07)	(0.28)	1.58	0.68	0.04					4.11	2.03	2.37
Basic (in dollars per share)	1.16	1.49	3.78	0.34	4.12	2.58	0.81	0.86					6.80	8.29	5.56
Diluted earnings per share
Continuing operations (in dollars per share)	1.10	1.31	(0.12)	0.41	4.36	0.99	0.13	0.81					2.68	6.22	3.17
Continuing operations	0.06	0.18	3.89	(0.07)	(0.27)	1.58	0.68	0.04					4.09	2.02	2.35
Discontinued operations	$ 1.16	$ 1.49	$ 3.77	$ 0.34	$ 4.09	$ 2.57	$ 0.81	$ 0.85					$ 6.77	$ 8.24	$ 5.52
Basic weighted average shares outstanding	96,300,000	99,100,000	100,000,000	100,100,000	100,900,000	102,400,000	103,800,000	105,200,000					98,900,000	103,000,000	109,900,000
SSARs, RSUs and PSUs													300,000	700,000	700,000
Weighted average diluted shares outstanding	96,700,000	99,500,000	100,300,000	100,800,000	101,800,000	102,900,000	104,400,000	106,000,000					99,200,000	103,700,000	110,600,000
Cash dividends per share	$ 0.41	$ 0.41	$ 0.41	$ 0.66	$ 0.58	$ 0.58	$ 0.58	$ 0.58	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 1.89	$ 2.32	$ 2
Aggregate dividends paid to shareholders													$ 194	$ 242	$ 223
Restricted Stock Units (RSUs) [Member]
Diluted earnings per share
Shares excluded from computation of diluted EPS															1,000,000
Performance-Based Stock Units [Member]
Diluted earnings per share
Shares excluded from computation of diluted EPS														500,000	600,000
Continuing Operations
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent													$ 266	$ 645	$ 351

Earnings Per Share (Current Sto

Earnings Per Share (Current Stock Repurchase Program) (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)$ / sharesshares
Stock Repurchase Activity [Roll Forward]
Beginning balance ( in shares)	118,887,441
Ending balance (in shares)	125,137,857
Stock Repurchase Program, Post Spin-Off [Member]
Stock Repurchase Activity [Roll Forward]
Shares for end of year	5,300,000
Repurchases | $	$ 221
Repurchases (in dollars per share) | $ / shares	$ 41.31
Ending balance (in shares)	100,600,000
Ending Cost Balance | $	$ 5,262
Stock Repurchase Program [Member]
Stock Repurchase Activity [Roll Forward]
Beginning balance ( in shares)	94,400,000
Beginning Cost Balance | $	$ 4,938
Beginning Average Price (in dollars per share) | $ / shares	$ 52.32
Shares for end of year	900,000
Repurchases | $	$ 103
Repurchases (in dollars per share) | $ / shares	$ 114.89

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details)	Oct. 01, 2017USD ($)	Jul. 31, 2017USD ($)	Jan. 31, 2018USD ($)	Dec. 31, 2018USD ($)Acquisition	Dec. 31, 2017USD ($)Acquisition	Dec. 31, 2016USD ($)Acquisitionacquisition	Feb. 28, 2017USD ($)
Acquisitions [Line Items]
Debt instrument, face amount							$ 51,000,000
Payments to acquire businesses, net of cash acquired				$ 5,000,000	$ 48,000,000	$ 21,000,000
La Quinta Holdings Inc.
Acquisitions [Line Items]
Payments to acquire businesses			$ 1,950,000,000
La Quinta Holdings Inc. | Unsecured Bridge Term Loan
Acquisitions [Line Items]
Credit facility maximum borrowing capacity			2,000,000,000
La Quinta Holdings Inc. | Unsecured Notes
Acquisitions [Line Items]
Debt instrument, face amount			500,000,000
La Quinta Holdings Inc. | Term Loan
Acquisitions [Line Items]
Debt instrument, face amount			1,600,000,000
La Quinta Holdings Inc. | Revolving Credit Facility
Acquisitions [Line Items]
Credit facility maximum borrowing capacity			$ 750,000,000
Other Acquisitions
Acquisitions [Line Items]
Number of businesses acquired | Acquisition						4
Payments to acquire businesses, net of cash acquired						$ 21,000,000
Other Acquisitions | Exchange & Rentals
Acquisitions [Line Items]
Number of businesses acquired				1	1	2
Payments to acquire businesses, net of cash acquired				$ 5,000,000	$ 5,000,000	$ 2,000,000
Liabilities assumed				1,000,000	11,000,000
Adjustments to Goodwill Acquired During 2017				1,000,000	3,000,000
Definite-lived intangibles				$ 4,000,000	$ 1,000,000
Weighted average useful life (in years) of definite-lived intangible assets				21 years	12 years
Other assets acquired				$ 1,000,000	$ 12,000,000
Other Acquisitions | Vacation Ownership
Acquisitions [Line Items]
Number of businesses acquired | Acquisition						2
Payments to acquire businesses, net of cash acquired						$ 19,000,000
Property and equipment						15,000,000
Inventory						$ 4,000,000
Other Acquisitions | Discontinued Operations
Acquisitions [Line Items]
Number of businesses acquired | Acquisition					4	5
Payments to acquire businesses, net of cash acquired					$ 151,000,000	$ 113,000,000
Contingent consideration					$ 1,000,000	$ 10,000,000
Love Home Swap | Exchange & Rentals
Acquisitions [Line Items]
Payments to acquire businesses, net of cash acquired		$ 28,000,000
Liabilities assumed		6,000,000
Adjustments to Goodwill Acquired During 2017		$ 48,000,000
Equity interest in acquiree		47.00%
Percentage of voting interests acquired		53.00%
Non-cash gain		$ 13,000,000
Definite-lived intangibles		6,000,000
Other assets acquired		$ 5,000,000
DAE Global Pty Ltd | Exchange & Rentals
Acquisitions [Line Items]
Payments to acquire businesses, net of cash acquired	$ 21,000,000
Liabilities assumed	6,000,000
Adjustments to Goodwill Acquired During 2017	8,000,000
PPE assets acquired	3,000,000
Definite-lived intangibles	$ 11,000,000
Weighted average useful life (in years) of definite-lived intangible assets	10 years
Other assets acquired	$ 5,000,000

DIscontinued Operations (Narrat

DIscontinued Operations (Narrative) (Details) $ in Millions	May 09, 2018USD ($)	Jan. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	May 31, 2018segment	Dec. 31, 2018USD ($)segment	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on disposal			$ 4	$ 20	$ 432	$ 0			$ 456	$ 0	$ 0
Gain on disposal, tax									139
Separation and related costs									223	26	$ 0
Number of reportable segments | segment							3	2
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Separation and related costs									111	$ 40
European vacation rentals business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from sale of business	$ 1,060
Guarantees, post-closing credit support, escrow deposit	$ 46
Secured bonding facility and perpetual guarantee			$ 46					$ 46	$ 46
Knights Inn Hotels
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from sale of business					27
Gain on disposal					$ 23
Subsequent Event | European vacation rentals business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Post-closing adjustments		$ 27

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets
Restricted cash (VIE - $120 and $106)	$ 31								$ 31
Trade receivables, net	82								82
Total assets of discontinued operations	203				$ 3,564				203	$ 3,564
Liabilities
Total liabilities of discontinued operations	165				1,419				165	1,419
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Separation and related costs									223	26	$ 0
Asset impairments									(4)	205	0
Interest expense									170	155	133
Other (income), net									(38)	(28)	(21)
Income on disposal of discontinued business, net of income taxes	4	$ 20	$ 432	$ 0					456	0	0
Income on discontinued operations, net of income taxes	$ 2	$ (3)	$ (42)	$ (7)	(28)	$ 162	$ 71	$ 4	(50)	209	260
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Net cash provided by operating activities - discontinued operations									150	486	522
Cash used in investing activities - discontinued operations									(626)	(211)	(206)
Cash provided by/(used in) financing activities - discontinued operations									2,066	(22)	(12)
Deferred income taxes									122	(397)	72
Discontinued Operations
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Separation and related costs									111	40
Discontinued Operations, Held-for-sale
Assets
Cash and cash equivalents					184					184
Restricted cash (VIE - $120 and $106)					12					12
Trade receivables, net					493					493
Property and equipment, net					609					609
Goodwill					855					855
Other intangibles, net					1,059					1,059
Other assets					352					352
Total assets of discontinued operations					3,564					3,564
Liabilities
Accounts payable					358					358
Deferred income					436					436
Accrued expenses and other liabilities					556					556
Debt					69					69
Total liabilities of discontinued operations					$ 1,419					1,419
Discontinued Operations
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Net revenues									720	2,022	1,930
Operating									343	874	810
Marketing and reservation									200	434	428
General and administrative									71	171	160
Separation and related costs									111	40	0
Asset impairments									0	41	7
Depreciation and amortization									52	130	125
Total expenses									777	1,690	1,530
Interest expense									0	3	3
Interest (income)									0	(3)	(1)
Other (income), net									0	0	(2)
(Benefit)/provision for income taxes									(7)	123	140
(Loss)/income from operations of discontinued businesses, net of income taxes									(50)	209	260
Income on disposal of discontinued business, net of income taxes									456	0	0
Income on discontinued operations, net of income taxes									406	209	260
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Depreciation and amortization									52	131	125
Stock-based compensation									22	11	11
Deferred income taxes									(23)	(11)	24
Property and equipment additions									(38)	(81)	(73)
Net assets of business acquired, net of cash acquired									(1,696)	(142)	(112)
Proceeds from sale of businesses and asset sales									$ 1,099	$ 9	$ 0

Held-for Sale Business (Details

Held-for Sale Business (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
Assets of discontinued operations and held-for-sale business	$ 203	$ 3,564
Restricted cash	31
Trade receivables, net	82
Intangible assets	42
Property and equipment, net	35
Liabilities of discontinued operations and held-for-sale business	165	$ 1,419
Accounts payable	87
Deferred revenue	42
Accrued liabilities	$ 27

Intangible Assets (Components O

Intangible Assets (Components Of Intangible Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill [Roll Forward]
Gross Carrying Amount	$ 922	$ 911
Gross Carrying Amount, Trademarks		143
Amortized Intangible Assets:	100	162
Accumulated Amortization	42	66
Net Carrying Amount	$ 58	$ 96
State and Local Income Taxes, Net of Federal Tax Benefits	1.70%	0.70%	1.50%
Management Agreement
Goodwill [Roll Forward]
Amortized Intangible Assets:	$ 45	$ 110
Accumulated Amortization	24	48
Net Carrying Amount	$ 21	62
Finite-Lived Intangible Assets, Useful Life	15 years
Trademarks
Goodwill [Roll Forward]
Amortized Intangible Assets:	$ 4	7
Accumulated Amortization	4	5
Net Carrying Amount	$ 0	2
Finite-Lived Intangible Assets, Useful Life	7 years
Other Intangible Assets
Goodwill [Roll Forward]
Amortized Intangible Assets:	$ 51	45
Accumulated Amortization	14	13
Net Carrying Amount	$ 37	32
Customer Lists And Business Contracts [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Useful Life	22 years
Minimum | Management Agreement
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Useful Life	10 years
Minimum | Trademarks
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Useful Life	3 years
Minimum | Customer Lists And Business Contracts [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Useful Life	3 years
Maximum | Management Agreement
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Useful Life	20 years
Maximum | Trademarks
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Useful Life	20 years
Maximum | Customer Lists And Business Contracts [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Useful Life	15 years
Trademarks
Goodwill [Roll Forward]
Gross Carrying Amount, Trademarks	$ 51	47
Continuing Operations
Goodwill [Roll Forward]
Gross Carrying Amount	$ 922	$ 911

Intangible Assets (Changes In C

Intangible Assets (Changes In Carrying Amount Of Goodwill By Segment) (Details)	12 Months Ended
	Dec. 31, 2018USD ($)
Goodwill [Roll Forward]
Balance as of December 31, 2017	$ 911,000,000
Adjustments to Goodwill Acquired During 2017	(4,000,000)
Adjustments to Goodwill During 2018	23,000,000
Foreign Exchange	(8,000,000)
Balance as of December 31, 2018	922,000,000
Gross Carrying Amount	911,000,000
Exchange & Rentals
Goodwill [Roll Forward]
Balance as of December 31, 2017	884,000,000
Adjustments to Goodwill Acquired During 2017	(4,000,000)
Adjustments to Goodwill During 2018	23,000,000
Foreign Exchange	(8,000,000)
Balance as of December 31, 2018	895,000,000
Gross Carrying Amount	884,000,000
Vacation Ownership
Goodwill [Roll Forward]
Balance as of December 31, 2017	27,000,000
Adjustments to Goodwill Acquired During 2017	0
Adjustments to Goodwill During 2018	0
Foreign Exchange	0
Balance as of December 31, 2018	27,000,000
Gross Carrying Amount	27,000,000
Restatement Adjustment | Exchange and Rentals
Goodwill [Roll Forward]
Balance as of December 31, 2018	(30,000,000)
Gross Carrying Amount	(30,000,000)
Discontinued Operations, Held-for-sale | Restatement Adjustment
Goodwill [Roll Forward]
Balance as of December 31, 2018	(7,000,000)
Gross Carrying Amount	$ (7,000,000)

Intangible Assets (Amortization

Intangible Assets (Amortization Expense Related To Intangible Assets By Major Class) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Amortization Expense	$ 12	$ 11	$ 11
Management Agreement
Amortization Expense	8	8	8
Other Intangible Assets
Amortization Expense	$ 4	$ 3	$ 3

Intangible Assets (Intangible A

Intangible Assets (Intangible Assets Future Amortization Expenses) (Details) $ in Millions	Dec. 31, 2018USD ($)
Finite-Lived Intangible Assets [Line Items]
2,019	$ 7
2,020	6
2,021	6
2,022	6
2,023	6
Discontinued Operations
Finite-Lived Intangible Assets [Line Items]
2,019	6
2,020	5
2,021	5
2,022	5
2,023	$ 3

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Provision [Line Items]
Federal Statutory Rate	21.00%	35.00%	35.00%
Undistributed earnings of foreign subsidiaries	$ 654
Unrecognized benefits that would effect rate	28	$ 28	$ 25
Potential accrued penalties	1	6	3
Liability for potential penalties	4	4	3
Liability for interest	7	5	4
Income taxes net of refunds	$ 108	$ 219	$ 177
Effective Income Tax Rate, Percent	32.80%	(103.10%)	35.10%
Foreign Country
Income Tax Provision [Line Items]
Tax credit	$ 81
Minimum
Income Tax Provision [Line Items]
Unrecognized benefits that would effect rate	3
Maximum
Income Tax Provision [Line Items]
Unrecognized benefits that would effect rate	5
Discontinued Operations
Income Tax Provision [Line Items]
Income taxes net of refunds	$ 9	$ 26	$ 19

Income Taxes (Tax Reform) (Deta

Income Taxes (Tax Reform) (Details) - Domestic Tax Authority - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Tax Provision [Line Items]
Remeasurement of net deferred income tax and uncertain tax liabilities	$ (24)	$ (463)
One-time mandatory repatriation tax on undistributed historic earnings of foreign subsidiaries	8	42
Valuation allowance established for the impact of the law on certain tax attributes	(13)	14
Net (benefit) for income taxes impact	$ (29)	$ (407)

Income Taxes (Income Tax Provis

Income Taxes (Income Tax Provision) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Current, Federal	$ (24)	$ 29	$ 85
Current, State	(6)	6	5
Current, Foreign	38	34	28
Current Income Tax Provision	8	69	118
Deferred, Federal	77	(392)	62
Deferred, State	44	(3)	14
Deferred, Foreign	1	(2)	(4)
Deferred Income Tax Provision	122	(397)	72
Provision for income taxes	$ 130	$ (328)	$ 190

Income Taxes (Pre-Tax Income Fo

Income Taxes (Pre-Tax Income For Domestic And Foreign Operations) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Domestic	$ 258	$ 343	$ 462
Foreign	138	(25)	80
Income before income taxes	$ 396	$ 318	$ 542

Income Taxes (Non-Current Defer

Income Taxes (Non-Current Deferred Income Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Net operating loss carryforward	$ 54	$ 48
Foreign tax credit carryforward	81	64
Tax basis differences in assets of foreign subsidiaries	12	13
Accrued liabilities and deferred income	62	95
Provision for doubtful accounts and loan loss reserves for vacation ownership contract receivables	210	192
Other comprehensive income	63	58
Other	34	16
Valuation Allowance	(89)	(36)
Deferred income tax assets	427	450
Depreciation and amortization	192	185
Installment sales of vacation ownership interests	802	737
Estimated VOI recoveries	71	69
Other Comprehensive Income	45	38
Other	24	8
Deferred income tax liabilities	1,134	1,037
Deferred income taxes	707	587
Other non-current assets	29	26
Deferred income taxes	736	613
Foreign Tax Credits	34	14
Net Operating Loss Carryforwards	41	19
Other Deferred Tax Assets	$ 14	$ 3

Income Taxes (Difference of Eff

Income Taxes (Difference of Effective Income Tax Rate From US Federal Statutor Rate) (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Federal Statutory Rate	21.00%	35.00%	35.00%
State and local income taxes, net of federal tax benefits	1.70%	0.70%	1.50%
Taxes on foreign operations at rates different than U.S. federal statutory rates	2.10%	(0.80%)	(1.90%)
Taxes on foreign income, net of tax credits	2.70%	(2.30%)	(2.90%)
Valuation allowance	10.80%	(2.50%)	1.00%
Effect of impairment charges	0.00%	6.40%	0.00%
Impact of U.S. tax reform	(5.50%)	(128.20%)	0.00%
Realized foreign currency losses	(0.00%)	(8.30%)	(0.00%)
Other	0.00%	(3.10%)	2.40%
Effective Income Tax Rate	32.80%	(103.10%)	35.10%

Income Taxes (Summary of Activi

Income Taxes (Summary of Activities Related to Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 28	$ 25	$ 22
Increases related to tax positions taken during a prior period	1	4	0
Increases related to tax positions during the current period	4	5	5
Decreases related to settlements with taxing authorities	0	(1)	0
Decrease as a result of a lapse of the applicable statute of limitations	(2)	(2)	(1)
Decreases related to tax positions taken during a prior period	(3)	(3)	(1)
Ending balance	$ 28	$ 28	$ 25

Inventory (Narrative) (Details)

Inventory (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		7 Months Ended	12 Months Ended
	Sep. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Inventory [Line Items]
Inventory transferred to Property and Equipment				$ 23	$ 41
Accrued inventory			$ 6	6	6
Impairment of Real Estate	$ 4		13
Asset impairments				(4)	205	$ 0
Inventory sold subject to repurchase			$ 43	33	43
Cash consideration received				0	0	$ 20
Maximum potential future payments				1,120
Saint Thomas, U.S. Virgin Island Inventory Sale
Inventory [Line Items]
Inventory sold subject to repurchase							$ 80
Cash consideration received							$ 80
Las Vegas, Nevada and St. Thomas, U.S. Virgin Island Inventory Sales
Inventory [Line Items]
Maximum potential future payments				$ 160
VOI Development
Inventory [Line Items]
Impairment of Real Estate		$ 27
Asset impairments		135
VOI Development | Saint Thomas, U.S. Virgin Island Inventory Sale
Inventory [Line Items]
Asset impairments					28
Vacation Ownership | Land
Inventory [Line Items]
Impairment of Real Estate		$ 121			$ 135

Vacation Ownership Contract R_3

Vacation Ownership Contract Receivables (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Vacation Ownership Contract Receivables [Abstract]
Interest income on securitized receivables	$ 363	$ 340	$ 332
Originated vacation ownership contract receivables	1,510	1,390	1,230
Vacation ownership contract principal collections	$ 890	$ 866	$ 820
Contract Receivable Weighted Average Interest Rate	14.10%	13.90%	13.90%
Minimum days which Company ceases to accrue interest on VOI contract receivables	90 days
VOI contract receivable written off as credit loss	120 days

Inventory (Inventory) (Details)

Inventory (Inventory) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Land held for VOI development	$ 4	$ 4
VOI construction in process	45	25
Inventory sold subject to repurchase	33	43
Completed VOI inventory	797	841
Estimated VOI recoveries	286	279
Exchange & Rentals vacation credits and other	59	57
Total inventory	$ 1,224	$ 1,249

Vacation Ownership Contract R_4

Vacation Ownership Contract Receivables (Current And Long-Term Vacation Ownership Contract Receivables) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivables [Line Items]
Long-term vacation ownership contract receivables	$ 3,771	$ 3,592
Less: Allowance for loan losses	734	691
Long-term vacation ownership contract receivables, net	3,037	2,901
Securitized
Accounts, Notes, Loans and Financing Receivables [Line Items]
Long-term vacation ownership contract receivables	2,883	2,553
Non Securitized Receivable
Accounts, Notes, Loans and Financing Receivables [Line Items]
Long-term vacation ownership contract receivables	$ 888	$ 1,039

Inventory Activity Related to I

Inventory Activity Related to Inventory Obligations (Tables) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Inventory [Line Items]
Inventory sold, outstanding obligation	$ 94	$ 144	$ 198
Purchases from Third Party Developer	32	161
Payments to third-party developer	(82)	(148)
Non-Cash Transfer to Debt		(67)
Inventory sold, outstanding obligation, current	94	144
Avon Colorado Inventory Sale
Inventory [Line Items]
Inventory sold, outstanding obligation	11	22	32
Purchases from Third Party Developer	0	1
Payments to third-party developer	(11)	(11)
Non-Cash Transfer to Debt		0
Inventory sold, outstanding obligation, current	11	22
Las Vegas, Nevada Inventory Sale
Inventory [Line Items]
Inventory sold, outstanding obligation	52	60	68
Purchases from Third Party Developer	31	21
Payments to third-party developer	(39)	(29)
Non-Cash Transfer to Debt		0
Inventory sold, outstanding obligation, current	52	60
Saint Thomas, U.S. Virgin Island Inventory Sale
Inventory [Line Items]
Inventory sold, outstanding obligation	0	0	98
Purchases from Third Party Developer	0	45
Payments to third-party developer	0	(76)
Non-Cash Transfer to Debt		(67)
Inventory sold, outstanding obligation, current	0	0
Austin, Texas
Inventory [Line Items]
Inventory sold, outstanding obligation	31	62	$ 0
Purchases from Third Party Developer	1	94
Payments to third-party developer	(32)	(32)
Non-Cash Transfer to Debt		0
Inventory sold, outstanding obligation, current	$ 31	$ 62

Vacation Ownership Contract R_5

Vacation Ownership Contract Receivables (Principal Payments Due On Vacation Ownership Contract Receivables) (Details) $ in Millions	Dec. 31, 2018USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
2,019	$ 339
2,020	350
2,021	380
2,022	408
2,023	396
Thereafter	1,898
Contract receivable total	3,771
Securitized Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
2,019	240
2,020	264
2,021	288
2,022	310
2,023	302
Thereafter	1,479
Contract receivable total	2,883
Non Securitized Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
2,019	99
2,020	86
2,021	92
2,022	98
2,023	94
Thereafter	419
Contract receivable total	$ 888

Vacation Ownership Contract R_6

Vacation Ownership Contract Receivables (Allowance For Loan Losses On Vacation Ownership Contract Receivables) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allowance for Loan Losses on Vaccation Ownership Contract Receivables
Allowance for loan losses, beginning balance	$ 691	$ 621	$ 581
Provision for loan losses	456	420	342
Contract receivables written-off, net	(413)	(350)	(302)
Allowance for loan losses, ending balance	$ 734	$ 691	$ 621

Vacation Ownership Contract R_7

Vacation Ownership Contract Receivables (Summary Of The Aged Analysis Of Financing Receivables Using The Most Recently Updated FICO Scores) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	$ 3,771	$ 3,592
700+ [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	2,045	1,886
600-699 [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	1,115	1,087
Less Than 600 [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	213	211
No Score [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	148	143
Asia Pacific [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	250	265
Current [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	3,584	3,431
Current [Member] | 700+ [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	1,996	1,849
Current [Member] | 600-699 [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	1,041	1,021
Current [Member] | Less Than 600 [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	166	166
Current [Member] | No Score [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	135	133
Current [Member] | Asia Pacific [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	246	262
31 - 60 Days [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	83	75
31 - 60 Days [Member] | 700+ [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	22	19
31 - 60 Days [Member] | 600-699 [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	35	32
31 - 60 Days [Member] | Less Than 600 [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	18	17
31 - 60 Days [Member] | No Score [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	6	5
31 - 60 Days [Member] | Asia Pacific [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	2	2
61 - 90 Days [Member
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	54	44
61 - 90 Days [Member | 700+ [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	15	9
61 - 90 Days [Member | 600-699 [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	22	18
61 - 90 Days [Member | Less Than 600 [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	13	13
61 - 90 Days [Member | No Score [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	3	3
61 - 90 Days [Member | Asia Pacific [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	1	1
91 - 120 Days [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	50	42
91 - 120 Days [Member] | 700+ [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	12	9
91 - 120 Days [Member] | 600-699 [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	17	16
91 - 120 Days [Member] | Less Than 600 [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	16	15
91 - 120 Days [Member] | No Score [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	4	2
91 - 120 Days [Member] | Asia Pacific [Member]
Financing Receivables, Recorded Investment [Line Items]
Financing receivables	$ 1	$ 0

Property And Equipment, Net (Na

Property And Equipment, Net (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 138	$ 136	$ 127
Accrued Liabilities
Property, Plant and Equipment [Line Items]
Construction in progress	3	3
Continuing Operations
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 126	$ 125	$ 116

Property And Equipment, Net (Sc

Property And Equipment, Net (Schedule Of Property And Equipment) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,565	$ 1,667
Less: Accumulated depreciation and amortization	853	845
Property and equipment, net	712	822
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	30	37
Building and leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	588	543
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	250	279
Capitalized software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	604	600
Capital leases
Property, Plant and Equipment [Line Items]
Property and equipment, gross	12	84
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 81	$ 124

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Other Current Assets [Abstract]
Deferred costs	$ 110	$ 130
Non-trade receivables, net	63	42
Deferred tax asset	29	26
Investments	25	24
Deposits	24	23
Tax receivables	6	42
Other	47	41
Other Current Assets	$ 304	$ 328

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Schedule of Accrued Expenses And Other Current Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Accrued Expenses and Other Current Liabilities [Abstract]
Accrued payroll and related	$ 263	$ 273
Accrued taxes	117	75
Payables associated with separation activities	102	14
Inventory sale obligation	94	144
Guarantees	74	2
Accrued advertising and marketing	54	20
Deferred rent	43	47
Accrued interest	39	40
Accrued VOI maintenance fees	31	32
Accrued separation	17	27
Accrued legal settlements	14	25
Restructuring liabilities	12	5	$ 7	$ 3
Derivative contract liabilities	9	1
Accrued other	135	142
Accrued expenses and other current liabilities	$ 1,004	$ 847

Debt (Summary Of Indebtedness-L

Debt (Summary Of Indebtedness-Long-Term Debt) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Oct. 01, 2018	May 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Feb. 28, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Non-recourse vacation ownership debt (VIE)	$ 2,357,000,000			$ 2,098,000,000
Other Long-term Debt	2,881,000,000			3,908,000,000
Senior notes	2,370,000,000
Long-term vacation ownership contract receivables	$ 3,771,000,000			3,592,000,000
Debt instrument, face amount						$ 51,000,000
2.5% Senior Unsecured Notes Due March 2018
Debt Instrument [Line Items]
Debt instruments, stated interest percentage	2.50%
7.375% Secured Notes (Due March 2020)
Debt Instrument [Line Items]
Debt instruments, stated interest percentage	7.375%
5.625% Secured Notes (Due March 2021)
Debt Instrument [Line Items]
Debt instruments, stated interest percentage	5.625%
4.25% Secured Notes (Due March 2022) | Interest Rate Swap
Debt Instrument [Line Items]
Debt instruments, stated interest percentage	4.25%
3.90% Secured Notes (Due March 2023) | Interest Rate Swap
Debt Instrument [Line Items]
Debt instruments, stated interest percentage	3.90%
5.40% Secured Notes (Due April 2024)
Debt Instrument [Line Items]
Debt instruments, stated interest percentage		5.40%	4.15%
5.40% Secured Notes (Due April 2024) | Interest Rate Swap
Debt Instrument [Line Items]
Debt instruments, stated interest percentage	5.40%
6.35% secured notes due October 2025 [Domain]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 350,000,000
Debt instruments, stated interest percentage	6.35%	6.35%	5.10%
5.75% secured notes due April 2027 [Domain]
Debt Instrument [Line Items]
Debt instruments, stated interest percentage	5.75%	5.75%	4.50%
5.75% secured notes due April 2027 [Domain] | Interest Rate Swap
Debt Instrument [Line Items]
Debt instruments, stated interest percentage	5.96%				5.75%
Secured Term Loan B
Debt Instrument [Line Items]
Debt instrument, face amount	$ 300,000,000
Secured Revolving Credit Facility due May 2023 | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	1,000,000,000
Term Notes
Debt Instrument [Line Items]
Non-recourse vacation ownership debt (VIE)	1,839,000,000			1,219,000,000
Unamortized Debt Issuance Expense	21,000,000			15,000,000
Bank Conduit Facility
Debt Instrument [Line Items]
Non-recourse vacation ownership debt (VIE)	518,000,000			333,000,000
Debt instrument, face amount	800,000,000
Bank Conduit Facility, Terminated
Debt Instrument [Line Items]
Non-recourse vacation ownership debt (VIE)	0			546,000,000
Debt instrument, face amount	750,000,000
Non-recourse Vacation Ownership Debt
Debt Instrument [Line Items]
Non-recourse vacation ownership debt (VIE)	2,357,000,000			2,098,000,000
Long-term vacation ownership contract receivables	$ 3,030,000,000			$ 2,680,000,000
Weighted average interest rate	4.22%			3.60%			3.60%
Revolving Credit Facility
Debt Instrument [Line Items]
Less: Outstanding borrowings	$ 181,000,000
Credit facility maximum borrowing capacity	1,000,000,000
Revolving Credit Facility | Revolving Credit Facility Due July 2020
Debt Instrument [Line Items]
Less: Outstanding borrowings	0			$ 395,000,000
Debt instrument, face amount	1,500,000,000
Revolving Credit Facility | Secured Revolving Credit Facility due May 2023
Debt Instrument [Line Items]
Less: Outstanding borrowings	$ 181,000,000			0
Weighted average interest rate	4.42%
Debt instrument, face amount	$ 1,000,000,000
Commercial Paper
Debt Instrument [Line Items]
Commercial paper borrowings	0			147,000,000
Long-term Debt
Debt Instrument [Line Items]
Other Long-term Debt	32,000,000			145,000,000
Capital leases	3,000,000			72,000,000
Total long-term debt	2,881,000,000			3,908,000,000
Long-term Debt | 2.5% Senior Unsecured Notes Due March 2018
Debt Instrument [Line Items]
Senior notes	0			450,000,000
Debt instrument, face amount	450,000,000
Long-term Debt | 7.375% Secured Notes (Due March 2020)
Debt Instrument [Line Items]
Senior notes	40,000,000			40,000,000
Debt instrument, face amount	40,000,000
Long-term Debt | 5.625% Secured Notes (Due March 2021)
Debt Instrument [Line Items]
Senior notes	249,000,000			248,000,000
Debt instrument, face amount	250,000,000
Long-term Debt | 4.25% Secured Notes (Due March 2022)
Debt Instrument [Line Items]
Senior notes	649,000,000			648,000,000
Debt instrument, face amount	650,000,000
Unamortized (gains)/losses from the settlement of a derivative	(1,000,000)			(2,000,000)
Long-term Debt | 3.90% Secured Notes (Due March 2023)
Debt Instrument [Line Items]
Senior notes	405,000,000			406,000,000
Debt instrument, face amount	400,000,000
Unamortized (gains)/losses from the settlement of a derivative	(6,000,000)			(8,000,000)
Long-term Debt | 5.40% Secured Notes (Due April 2024)
Debt Instrument [Line Items]
Senior notes	297,000,000			$ 297,000,000
Debt instrument, face amount	$ 300,000,000
Debt instruments, stated interest percentage	5.40%			4.15%
Long-term Debt | 6.35% secured notes due October 2025 [Domain]
Debt Instrument [Line Items]
Senior notes	$ 341,000,000			$ 340,000,000
Unamortized (gains)/losses from the settlement of a derivative	$ 7,000,000			$ 8,000,000
Debt instruments, stated interest percentage	6.35%			5.10%
Long-term Debt | 5.75% secured notes due April 2027 [Domain]
Debt Instrument [Line Items]
Senior notes	$ 388,000,000			$ 396,000,000
Debt instrument, face amount	$ 400,000,000
Debt instruments, stated interest percentage	5.75%			4.50%
Derivative, Amount of Hedged Item	$ 8,000,000			$ (1,000,000)
Long-term Debt | Term Loan
Debt Instrument [Line Items]
Other Long-term Debt	0			324,000,000
Debt instrument, face amount	325,000,000
Long-term Debt | Secured Term Loan B
Debt Instrument [Line Items]
Other Long-term Debt	296,000,000			0
Quarterly payment	750,000
Debt instrument, face amount	300,000,000
Senior Notes
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense	6,000,000			5,000,000
Debt Instrument, Unamortized Discount	$ 11,000,000			$ 14,000,000

Debt (Summary Of Outstanding De

Debt (Summary Of Outstanding Debt Maturities) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Within 1 year	$ 233
Between 1 and 2 years	241
Between 2 and 3 years	892
Between 3 and 4 years	852
Between 4 and 5 years	803
Thereafter	2,217
Secured debt	2,357	$ 2,098
Long-term debt outstanding	5,238	6,006
Non-recourse Vacation Ownership Debt
Debt Instrument [Line Items]
Within 1 year	195
Between 1 and 2 years	198
Between 2 and 3 years	640
Between 3 and 4 years	200
Between 4 and 5 years	215
Thereafter	909
Secured debt	2,357	2,098
Long-term Debt
Debt Instrument [Line Items]
Within 1 year	38
Between 1 and 2 years	43
Between 2 and 3 years	252
Between 3 and 4 years	652
Between 4 and 5 years	588
Thereafter	1,308
Total long-term debt	$ 2,881	$ 3,908

Debt (Summary Of Available Capa

Debt (Summary Of Available Capacity Under Borrowing Arrangements) (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Feb. 28, 2017
Debt Instrument [Line Items]
Letters of credit	$ 70,000,000	$ 47,000,000
Debt instrument, face amount			$ 51,000,000
Securitized Bank Conduit Facility
Debt Instrument [Line Items]
Total capacity	800,000,000
Less: Outstanding borrowings	518,000,000
Letters of credit	0
Available capacity	282,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Total capacity	1,000,000,000
Less: Outstanding borrowings	181,000,000
Letters of credit	35,000,000	1,000,000
Available capacity	784,000,000
Secured Revolving Credit Facility due May 2023 | Revolving Credit Facility
Debt Instrument [Line Items]
Less: Outstanding borrowings	181,000,000	$ 0
Debt instrument, face amount	$ 1,000,000,000

Debt (Non-recourse Vacation Own

Debt (Non-recourse Vacation Ownership Debt) (Narrative) (Details) - USD ($)	1 Months Ended
	Apr. 30, 2018	Dec. 31, 2018	Oct. 31, 2018	Jul. 31, 2018	Jun. 30, 2018	Apr. 18, 2018	Dec. 31, 2017	Oct. 05, 2017	Feb. 28, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Debt instrument, face amount									$ 51,000,000
Total debt, carrying amount		$ 5,238,000,000					$ 6,006,000,000
Secured debt		2,357,000,000					2,098,000,000
Collateralized gross vacation ownership contract receivables and related assets		3,771,000,000					$ 3,592,000,000
Sierra Timeshare 2018-1 Receivables Funding LLC
Debt Instrument [Line Items]
Debt instrument, face amount					$ 350,000,000
Weighted average interest rate					3.73%
Advance rate on securitized debt					90.00%
Total debt, carrying amount		233,000,000
Sierra Timeshare Conduit Receivables Funding II LLC
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity						$ 800,000,000
Premium Yield Facility 2018-A Class A
Debt Instrument [Line Items]
Debt instrument, face amount		$ 279,000,000
Advance rate on securitized debt		70.00%
Debt instruments, stated interest percentage		4.73%
Total debt, carrying amount		$ 278,000,000
Term Notes
Debt Instrument [Line Items]
Weighted average interest rate		4.10%					3.70%			3.60%
Outstanding borrowings		$ 631,000,000
Sierra Timeshare Conduit Receivables Funding III Llc
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity								$ 750,000,000
Sierra Timeshare 2018-2
Debt Instrument [Line Items]
Debt instrument, face amount				$ 500,000,000
Weighted average interest rate				3.65%
Advance rate on securitized debt				88.65%
Total debt, carrying amount		386,000,000
Sierra Timeshare 2018-3
Debt Instrument [Line Items]
Debt instrument, face amount			$ 350,000,000
Weighted average interest rate			4.02%
Advance rate on securitized debt			98.00%
Total debt, carrying amount		$ 311,000,000
Non-recourse Vacation Ownership Debt
Debt Instrument [Line Items]
Weighted average interest rate		4.22%					3.60%			3.60%
Secured debt		$ 2,357,000,000					$ 2,098,000,000
Collateralized gross vacation ownership contract receivables and related assets		$ 3,030,000,000					$ 2,680,000,000
Base Rate | Sierra Timeshare Conduit Receivables Funding II LLC
Debt Instrument [Line Items]
Basis spread on variable rate	5.50%

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	May 31, 2018	Jan. 31, 2018	May 31, 2015	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Oct. 01, 2018	Mar. 31, 2018	Mar. 31, 2017	Feb. 28, 2017
Debt Instrument [Line Items]
Debt instrument, face amount										$ 51,000,000
Proceeds from debt				$ 3,203,000,000	$ 1,629,000,000	$ 112,000,000
Senior notes				2,370,000,000
Derivative Asset				1,000,000
Principal payments on debt				3,520,000,000	1,293,000,000	$ 141,000,000
Secured Term Loan B
Debt Instrument [Line Items]
Debt instrument, face amount				$ 300,000,000
Secured Revolving Credit Facility due May 2023
Debt Instrument [Line Items]
Proceeds from debt	$ 220,000,000
7.375% Secured Notes (Due March 2020)
Debt Instrument [Line Items]
Debt instruments, stated interest percentage				7.375%
5.625% Secured Notes (Due March 2021)
Debt Instrument [Line Items]
Debt instruments, stated interest percentage				5.625%
5.40% Secured Notes (Due April 2024)
Debt Instrument [Line Items]
Debt instruments, stated interest percentage	4.15%						5.40%
6.35% secured notes due October 2025 [Domain]
Debt Instrument [Line Items]
Debt instrument, face amount				$ 350,000,000
Debt instruments, stated interest percentage	5.10%			6.35%			6.35%
5.75% secured notes due April 2027 [Domain]
Debt Instrument [Line Items]
Debt instruments, stated interest percentage	4.50%			5.75%			5.75%
Term Loan
Debt Instrument [Line Items]
Early extinguishment of debt	$ 325,000,000
Interest Rate Swap
Debt Instrument [Line Items]
Derivative, Variable Interest Rate				4.71%
Derivative, Cash Received on Hedge			$ 17,000,000
Deferred gain/(loss) on fair value hedge				$ 7,000,000	9,000,000
Interest Rate Swap | 3.90% Secured Notes (Due March 2023)
Debt Instrument [Line Items]
Debt instruments, stated interest percentage				3.90%
Derivative, notional amount				$ 400,000,000
Interest Rate Swap | 4.25% Secured Notes (Due March 2022)
Debt Instrument [Line Items]
Debt instruments, stated interest percentage				4.25%
Derivative, notional amount				$ 100,000,000
Interest Rate Swap | 5.40% Secured Notes (Due April 2024)
Debt Instrument [Line Items]
Debt instruments, stated interest percentage				5.40%
Interest Rate Swap | 5.75% secured notes due April 2027 [Domain]
Debt Instrument [Line Items]
Debt instruments, stated interest percentage				5.96%					5.75%
Derivative, notional amount									$ 400,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				$ 1,000,000,000
Revolving Credit Facility | Revolving Credit Facility (Due November 2018)
Debt Instrument [Line Items]
Debt instrument, term	364 days
Early extinguishment of debt	$ 400,000,000
Revolving Credit Facility | Secured Revolving Credit Facility due May 2023
Debt Instrument [Line Items]
Debt instrument, face amount				1,000,000,000
Revolving Credit Facility | Revolving Credit Facility Due July 2020
Debt Instrument [Line Items]
Debt instrument, face amount				1,500,000,000
Principal payments on debt	484,000,000
Early extinguishment of debt	$ 1,500,000,000
Domestic Commercial Paper
Debt Instrument [Line Items]
Commercial Paper, maximum borrowing capacity					750,000,000
Outstanding borrowings				0	$ 147,000,000
Commercial Paper, weighted average interest rate					2.34%
European Commercial Paper
Debt Instrument [Line Items]
Commercial Paper, maximum borrowing capacity								$ 500,000,000
Long-term Debt | 3.90% Secured Notes (Due March 2023)
Debt Instrument [Line Items]
Unamortized (gains)/losses from the settlement of a derivative				(6,000,000)	$ (8,000,000)
Debt instrument, face amount				400,000,000
Senior notes				405,000,000	406,000,000
Long-term Debt | 4.25% Secured Notes (Due March 2022)
Debt Instrument [Line Items]
Unamortized (gains)/losses from the settlement of a derivative				(1,000,000)	(2,000,000)
Debt instrument, face amount				650,000,000
Senior notes				649,000,000	648,000,000
Long-term Debt | Secured Term Loan B
Debt Instrument [Line Items]
Debt instrument, face amount				300,000,000
Long-term Debt | 7.375% Secured Notes (Due March 2020)
Debt Instrument [Line Items]
Debt instrument, face amount				40,000,000
Senior notes				40,000,000	40,000,000
Long-term Debt | 5.625% Secured Notes (Due March 2021)
Debt Instrument [Line Items]
Debt instrument, face amount				250,000,000
Senior notes				249,000,000	$ 248,000,000
Long-term Debt | 5.40% Secured Notes (Due April 2024)
Debt Instrument [Line Items]
Debt instrument, face amount				$ 300,000,000
Debt instruments, stated interest percentage				5.40%	4.15%
Senior notes				$ 297,000,000	$ 297,000,000
Long-term Debt | 6.35% secured notes due October 2025 [Domain]
Debt Instrument [Line Items]
Unamortized (gains)/losses from the settlement of a derivative				$ 7,000,000	$ 8,000,000
Debt instruments, stated interest percentage				6.35%	5.10%
Senior notes				$ 341,000,000	$ 340,000,000
Long-term Debt | 5.75% secured notes due April 2027 [Domain]
Debt Instrument [Line Items]
Debt instrument, face amount				$ 400,000,000
Debt instruments, stated interest percentage				5.75%	4.50%
Senior notes				$ 388,000,000	$ 396,000,000
Long-term Debt | Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount				325,000,000
Mortgage Note - SPE | Saint Thomas
Debt Instrument [Line Items]
Debt instrument, face amount				32,000,000
Revolving Credit Facility | Secured Revolving Credit Facility due May 2023
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				$ 1,000,000,000
Bank of America, N.A. | 3.90% Secured Notes (Due March 2023)
Debt Instrument [Line Items]
Debt instruments, stated interest percentage	3.90%
Bank of America, N.A. | 4.25% Secured Notes (Due March 2022)
Debt Instrument [Line Items]
Debt instruments, stated interest percentage	4.25%
Bank of America, N.A. | Secured Term Loan B
Debt Instrument [Line Items]
Debt instrument, face amount	$ 300,000,000
Bank of America, N.A. | 7.375% Secured Notes (Due March 2020)
Debt Instrument [Line Items]
Debt instruments, stated interest percentage	7.375%
Bank of America, N.A. | 5.625% Secured Notes (Due March 2021)
Debt Instrument [Line Items]
Debt instruments, stated interest percentage	5.625%
Bank of America, N.A. | 5.40% Secured Notes (Due April 2024)
Debt Instrument [Line Items]
Debt instruments, stated interest percentage	5.40%
Bank of America, N.A. | 6.35% secured notes due October 2025 [Domain]
Debt Instrument [Line Items]
Debt instruments, stated interest percentage	6.35%
Bank of America, N.A. | 5.75% secured notes due April 2027 [Domain]
Debt Instrument [Line Items]
Debt instruments, stated interest percentage	5.75%
Bank of America, N.A. | Revolving Credit Facility | Credit Agreement
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 1,300,000,000
Bank of America, N.A. | Revolving Credit Facility | Secured Revolving Credit Facility due May 2023
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 1,000,000,000
Adjusted Base Rate [Member] | Bank of America, N.A. | Secured Term Loan B
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
Adjusted Base Rate [Member] | Bank of America, N.A. | Revolving Credit Facility | Maximum | Secured Revolving Credit Facility due May 2023
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
Adjusted Base Rate [Member] | Bank of America, N.A. | Revolving Credit Facility | Minimum | Secured Revolving Credit Facility due May 2023
Debt Instrument [Line Items]
Basis spread on variable rate	0.75%
Adjusted LIBOR Rate | Bank of America, N.A. | Secured Term Loan B
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Adjusted LIBOR Rate | Bank of America, N.A. | Revolving Credit Facility | Maximum | Secured Revolving Credit Facility due May 2023
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Adjusted LIBOR Rate | Bank of America, N.A. | Revolving Credit Facility | Minimum | Secured Revolving Credit Facility due May 2023
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Floor LIBOR Rate | Bank of America, N.A. | Revolving Credit Facility | Secured Revolving Credit Facility due May 2023
Debt Instrument [Line Items]
Basis spread on variable rate	0.00%
La Quinta Holdings Inc.
Debt Instrument [Line Items]
Payments to acquire businesses		$ 1,950,000,000
La Quinta Holdings Inc. | Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount		1,600,000,000
La Quinta Holdings Inc. | Unsecured Bridge Term Loan
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity		2,000,000,000
La Quinta Holdings Inc. | Unsecured Notes
Debt Instrument [Line Items]
Debt instrument, face amount		500,000,000
La Quinta Holdings Inc. | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity		$ 750,000,000

Debt (Fair Value Hedges) (Narra

Debt (Fair Value Hedges) (Narrative) (Details) - USD ($)	5 Months Ended
	May 31, 2015	Dec. 31, 2018	Oct. 01, 2018	May 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Debt Instrument [Line Items]
Derivative Liability		$ 9,000,000			$ 1,000,000
5.75% secured notes due April 2027 [Domain]
Debt Instrument [Line Items]
Debt instruments, stated interest percentage		5.75%	5.75%	4.50%
Interest Rate Swap
Debt Instrument [Line Items]
Derivative, Variable Interest Rate		4.71%
Derivative Liability		$ (8,000,000)
Derivative, Cash Received on Hedge	$ 17,000,000
Deferred gain/(loss) on fair value hedge		$ 7,000,000			$ 9,000,000
Interest Rate Swap | 5.75% secured notes due April 2027 [Domain]
Debt Instrument [Line Items]
Debt instruments, stated interest percentage		5.96%				5.75%
Derivative, notional amount						$ 400,000,000
Derivative Liability		$ (8,000,000)
Interest Rate Swap | 3.90% Secured Notes (Due March 2023)
Debt Instrument [Line Items]
Debt instruments, stated interest percentage		3.90%
Derivative, notional amount		$ 400,000,000
Interest Rate Swap | 4.25% Secured Notes (Due March 2022)
Debt Instrument [Line Items]
Debt instruments, stated interest percentage		4.25%
Derivative, notional amount		$ 100,000,000
Long-term Debt | 5.75% secured notes due April 2027 [Domain]
Debt Instrument [Line Items]
Debt instruments, stated interest percentage		5.75%			4.50%
Derivative, Amount of Hedged Item		$ 8,000,000			$ (1,000,000)

Debt (Early Extinguishment Of D

Debt (Early Extinguishment Of Debt) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Debt Instrument [Line Items]
Loss on early extinguishment of debt	$ 0	$ 0	$ 11
6.00% Senior Unsecured Notes (Due December 2016)
Debt Instrument [Line Items]
Debt instruments, stated interest percentage				6.00%
Purchase of senior unsecured notes, total		$ 327

Debt Debt (Debt Covenants) (Nar

Debt Debt (Debt Covenants) (Narrative) (Details) - Bank of America, N.A. - Credit Agreement	Dec. 31, 2018
Debt Instrument [Line Items]
Minimum interest coverage ratio	2.5
Maximum first lien leverage ratio	4.25
Interest coverage ratio	6.2
First lien leverage ratio	2.8

Debt (Interest Expense) (Narrat

Debt (Interest Expense) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Interest expense	$ 170	$ 155	$ 133
Capitalized interest	2	2	4
Long-Term Debt Borrowings And Capitalized Interest
Debt Instrument [Line Items]
Cash paid	159	152	136
Consumer Finance [Member]
Debt Instrument [Line Items]
Cash paid	58	49	51
Consumer financing
Debt Instrument [Line Items]
Cost of revenue	$ 88	$ 74	$ 75

Variable Interest Entities (Nar

Variable Interest Entities (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		12 Months Ended
	Jan. 31, 2013	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Schedule Of Transfer And Financial Assets [Line Items]
Aggregate amount of purchase commitments				$ 1,120
Property and equipment, net		$ 822		712	$ 822
Property, plant, and equipment write-down		37			37
Conveyed property and equipment				99	107	$ 117
Inventory transferred to Property and Equipment				23	41
Non Securitized Receivable
Schedule Of Transfer And Financial Assets [Line Items]
Non-securitized contract receivables		1,040		888	1,040
Variable Interest Entity, Primary Beneficiary | Non Securitized Receivable
Schedule Of Transfer And Financial Assets [Line Items]
Non-securitized contract receivables		$ 1,039		888	$ 1,039
VOI Inventories | Variable Interest Entity, Primary Beneficiary
Schedule Of Transfer And Financial Assets [Line Items]
Long-term Purchase Commitment, Period		2 years
Aggregate amount of purchase commitments			$ 51
Property and equipment, net				51
Long-term debt				51
VOI Inventories | Variable Interest Entity, Primary Beneficiary | Midtown 45, NYC Property
Schedule Of Transfer And Financial Assets [Line Items]
Long-term Purchase Commitment, Period	4 years
Saint Thomas | Variable Interest Entity, Primary Beneficiary
Schedule Of Transfer And Financial Assets [Line Items]
Property and equipment, net				64
Long-term debt				$ 104

Variable Interest Entities (Ass

Variable Interest Entities (Assets And Liabilities Of Vacation Ownership SPEs) (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Schedule Of Transfer And Financial Assets [Line Items]
Vacation ownership contract receivables, net (VIE - $2,883 and $2,553)	$ 3,037,000,000	$ 2,901,000,000
Restricted cash (VIE - $120 and $106)	155,000,000	171,000,000
Total assets	7,158,000,000	10,450,000,000
Non-recourse vacation ownership debt (VIE)	2,357,000,000	2,098,000,000
Other Long-term Debt	2,881,000,000	3,908,000,000
Total liabilities	7,727,000,000	9,676,000,000
Vacation Ownership SPEs
Schedule Of Transfer And Financial Assets [Line Items]
Deferred financing cost related to securitized debt	21,000,000	15,000,000
Variable Interest Entity, Primary Beneficiary
Schedule Of Transfer And Financial Assets [Line Items]
Vacation ownership contract receivables, net (VIE - $2,883 and $2,553)	2,883	2,553
Restricted cash (VIE - $120 and $106)	120	106
Non-recourse vacation ownership debt (VIE)	2,357	2,098
SPE assets in excess of SPE liabilities	669,000,000	585,000,000
Variable Interest Entity, Primary Beneficiary | Vacation Ownership SPEs
Schedule Of Transfer And Financial Assets [Line Items]
Vacation ownership contract receivables, net (VIE - $2,883 and $2,553)	2,883,000,000	2,553,000,000
Restricted cash (VIE - $120 and $106)	120,000,000	106,000,000
Interest receivables on securitized contract receivables	23,000,000	22,000,000
Other assets	3,000,000	4,000,000
Total assets	3,029,000,000	2,685,000,000
Non-recourse vacation ownership debt (VIE)	1,839,000,000	1,219,000,000
Other Long-term Debt	518,000,000	879,000,000
Other liabilities	3,000,000	2,000,000
Total liabilities	2,360,000,000	2,100,000,000
SPE assets in excess of SPE liabilities	$ 669,000,000	$ 585,000,000

Variable Interest Entities (Sum

Variable Interest Entities (Summary Of Total Vacation Ownership Receivables And Other Securitized Assets, Net Of Securitized Liabilities And Allowance For Loan Losses) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less: Allowance for loan losses	$ 734	$ 691	$ 621	$ 581
Non Securitized Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-securitized contract receivables	888	1,040
Variable Interest Entity, Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
SPE assets in excess of SPE liabilities	669	585
Less: Allowance for loan losses	734	691
Total, net	823	933
Variable Interest Entity, Primary Beneficiary | Non Securitized Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-securitized contract receivables	$ 888	$ 1,039

Variable Interest Entities (S_2

Variable Interest Entities (Summary of Vacation Ownership NYC, Assets and Liabilities of the SPE) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Servicing Assets at Fair Value [Line Items]
Total assets	$ 7,158	$ 10,450
Total liabilities	7,727	9,676
Conveyed property and equipment	99	107	$ 117
Inventory transferred to Property and Equipment	23	41
St Thomas & Clearwater Properties
Servicing Assets at Fair Value [Line Items]
Conveyed property and equipment	67	38
Property and Equipment transferred to Inventory	28
Inventory transferred to Property and Equipment		52
Variable Interest Entity, Primary Beneficiary
Servicing Assets at Fair Value [Line Items]
SPE (deficit)/equity	(669)	(585)
Variable Interest Entity, Primary Beneficiary | St Thomas & Clearwater Properties
Servicing Assets at Fair Value [Line Items]
Property and equipment, net	23	90
Total assets	23	90
Long-term debt	32	131
Total liabilities	32	131
SPE (deficit)/equity	9	41
Mortgage Note - SPE
Servicing Assets at Fair Value [Line Items]
Long-term debt	$ 32	$ 131

Fair Value (Carrying Amounts An

Fair Value (Carrying Amounts And Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	$ 9	$ 1
Derivative Asset	1
Vacation ownership contract receivables, net, carrying amount	3,037	2,901
Vacation ownership contract receivables, net, estimated fair value	3,662	3,489
Total debt, carrying amount	5,238	6,006
Total debt, estimated fair value	4,604	$ 6,084
Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	$ (8)

Financial Instruments (Summary

Financial Instruments (Summary Of Gain Amounts Recognized In AOCI) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Designated Hedging Instruments | Foreign Exchange Contracts
Derivative [Line Items]
Gain/(loss) amounts recognized in AOCL	$ (1)	$ (2)	$ 0

Financial Instruments (Summar_2

Financial Instruments (Summary Of Gain/(Loss) Recognized In Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Foreign Exchange Contracts | Non-Designated Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Gain/(loss) amounts recognized in income	$ 2	$ 1	$ (20)

Financial Instruments (Narrativ

Financial Instruments (Narrative) (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
FLORIDA
Derivatives, Fair Value [Line Items]
Percentage Of vacation Ownership Interest Sales Revenue Generated From Geographic Sales Office	17.00%
Percentage Of Net Revenues Generated From Transactions In Geographic Locations	16.00%	16.00%	14.00%
NEVADA
Derivatives, Fair Value [Line Items]
Percentage Of vacation Ownership Interest Sales Revenue Generated From Geographic Sales Office	14.00%
CALIFORNIA
Derivatives, Fair Value [Line Items]
Percentage of vacation ownership contract receivables	18.00%
Percentage Of Net Revenues Generated From Transactions In Geographic Locations	11.00%	12.00%	13.00%

Commitments And Contingencies_2

Commitments And Contingencies (Schedule of Operating Lease Future Minimum Payments) (Details) $ in Millions	Dec. 31, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,019	$ 34
2,020	30
2,021	26
2,022	24
2,023	22
Thereafter	99
Total noncancelable operating leases	$ 235

Commitments And Contingencies_3

Commitments And Contingencies (Narrative) (Details)	12 Months Ended
	Dec. 31, 2018USD ($)Surety_Providers	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Commitments And Contingencies [Line Items]
Total rental expense	$ 61,000,000	$ 61,000,000	$ 59,000,000
Aggregate amount of purchase commitments	1,120,000,000
Inventory sold subject to repurchase	160,000,000
Letters of credit	$ 70,000,000	47,000,000
Number of surety providers of assembled commitments | Surety_Providers	15
Assembled commitments, amount	$ 2,600,000,000
Surety amounts outstanding	365,000,000
Litigation reserves	14,000,000	25,000,000
Range of possible loss, portion not accrued	50,000,000
Guarantees and Indemnifications Payment of Fees For Default	8,000,000
Annual cap	37,000,000
Recognized Liability Associated With Guarantees	0	0
Vacation Ownership Properties
Commitments And Contingencies [Line Items]
Aggregate amount of purchase commitments	153,000,000
Information Technology
Commitments And Contingencies [Line Items]
Aggregate amount of purchase commitments	64,000,000
Marketing
Commitments And Contingencies [Line Items]
Aggregate amount of purchase commitments	848,000,000
Revolving Credit Facility
Commitments And Contingencies [Line Items]
Letters of credit	35,000,000	1,000,000
Discontinued Operations
Commitments And Contingencies [Line Items]
Total rental expense	$ 9,000,000	$ 24,000,000	$ 22,000,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income/(Loss) (Components Of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Feb. 28, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2018	Jan. 01, 2016	Dec. 31, 2015
Accumulated Other Comprehensive (Loss)/Income, Net of Tax
Beginning Balance, value		$ 774	$ 633	$ 953
Period change, Net of Tax		(33)	96	(35)
Ending Balance, value		(569)	774	633
Beginning balance adjustment due to change in accounting principle		(17)			$ 19	$ 91	$ (89)
Tax Cuts And Jobs Act Of 2017, Reclassification of AOCI to Retained Earnings	$ 8
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive (Loss)/Income, Net of Tax
Beginning balance, Pretax		(96)	(217)	(136)
Period change, Pretax		(75)	121	(81)
Pretax- Amount reclassed to earnings		24
Ending balance, Pretax		(147)	(96)	(217)
Beginning balance, Tax		89	115	70
Period change, tax		13	(26)	45
Amount reclassified to earnings		0
Ending balance, Tax		102	89	115
Beginning Balance, value		(7)	(102)	(66)
Period change, Net of Tax		(38)	95	(36)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax		(62)
Amount reclassified to earnings		24
Ending Balance, value		(53)	(7)	(102)
Beginning balance adjustment due to change in accounting principle		(8)
Unrealized Gains/(Losses) on Cash Flow Hedges
Accumulated Other Comprehensive (Loss)/Income, Net of Tax
Beginning balance, Pretax		(2)	0	0
Period change, Pretax		0	(2)	0
Pretax- Amount reclassed to earnings		0
Ending balance, Pretax		(2)	(2)	0
Beginning balance, Tax		2	0	0
Period change, tax		0	2	0
Amount reclassified to earnings		0
Ending balance, Tax		2	2	0
Beginning Balance, value		0	0	0
Period change, Net of Tax		0	0	0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax		0
Amount reclassified to earnings		0
Ending Balance, value		0	0	0
Beginning balance adjustment due to change in accounting principle		0
Defined Benefit Pension Plans
Accumulated Other Comprehensive (Loss)/Income, Net of Tax
Beginning balance, Pretax		(5)	(7)	(9)
Period change, Pretax		1	2	2
Pretax- Amount reclassed to earnings		6
Ending balance, Pretax		2	(5)	(7)
Beginning balance, Tax		1	2	3
Period change, tax		0	(1)	(1)
Amount reclassified to earnings		(2)
Ending balance, Tax		(1)	1	2
Beginning Balance, value		(4)	(5)	(6)
Period change, Net of Tax		5	1	1
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax		1
Amount reclassified to earnings		4
Ending Balance, value		1	(4)	(5)
Beginning balance adjustment due to change in accounting principle		0
AOCI
Accumulated Other Comprehensive (Loss)/Income, Net of Tax
Beginning balance, Pretax		(103)	(224)	(145)
Period change, Pretax		(74)	121	(79)
Pretax- Amount reclassed to earnings		30
Ending balance, Pretax		(147)	(103)	(224)
Beginning balance, Tax		92	117	73
Period change, tax		13	(25)	44
Amount reclassified to earnings		(2)
Ending balance, Tax		103	92	117
Beginning Balance, value		(11)	(107)	(72)
Period change, Net of Tax		(33)	96	(35)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax		(61)
Amount reclassified to earnings		28
Ending Balance, value		(52)	$ (11)	$ (107)
Beginning balance adjustment due to change in accounting principle		$ (8)					$ 2

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income/(Loss) (Reclassification out of AOCL) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income on disposal of discontinued business, net of income taxes	$ (4)	$ (20)	$ (432)	$ 0					$ (456)	$ 0	$ 0
Net income/(loss)	$ 112	$ 148	$ 378	$ 34	$ 416	$ 264	$ 85	$ 90	672	855	$ 612
Reclassification out of Accumulated Other Comprehensive Income | Foreign Currency Translation Adjustments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income on disposal of discontinued business, net of income taxes									(24)	0
Net income/(loss)									(24)	0
Reclassification out of Accumulated Other Comprehensive Income | Defined Benefit Pension Plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income on disposal of discontinued business, net of income taxes									(4)	0
Net income/(loss)									$ (4)	$ 0

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) shares in Millions	Dec. 31, 2018shares
Share-based Compensation [Abstract]
Maximum common stock shares to be awarded	15.7
Common stock remaining shares outstanding	15

Stock-Based Compensation (Incen

Stock-Based Compensation (Incentive Equity Awards Granted By The Company) (Details) - USD ($)	1 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU vesting		$ 22,000,000
Incentive equity awards		$ 58,000,000	$ 66,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Number of Units, Beginning Balance (shares)		1,600,000
Effect of Spinoff (Shares)		700,000
Number of Units, Granted (shares)	200,000	900,000
Number of Units, Vested/exercised (shares)		(2,200,000)
Number of Units, Canceled (shares)		(100,000)
Number of Units, Ending Balance (shares)		900,000	1,600,000
Weighted Average Grant Price, Beginning Balance (in dollars per share)		$ 81.18
Weighted Average Grant Price, Granted (in dollars per share)		62.34
Weighted Average Grant Price, Vested/exercised (in dollars per share)		65.39
Weighted Average Grant Price, Canceled (in dollars per share)		72.54
Weighted Average Grant Price, Ending Balance (in dollars per share)		$ 50.54	$ 81.18
Unrecognized compensation expense		$ 32,000,000
Incentive equity awards vesting ratably over a period, in years		3 years 5 months
Stock-Settled Appreciation Rights (SSARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive equity awards				$ 64,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Number of Units, Beginning Balance (shares)		200,000
Effect of Spinoff (Shares)		0
Number of Units, Granted (shares)		0
Number of Units, Vested/exercised (shares)		0
Number of Units, Canceled (shares)		0
Number of Units, Ending Balance (shares)		200,000	200,000
Weighted Average Grant Price, Beginning Balance (in dollars per share)		$ 77.40	$ 13.70
Weighted Average Grant Price, Effect of Spin-off (in dollars per share)		0
Weighted Average Grant Price, Granted (in dollars per share)		$ 0
Weighted Average Grant Price, Vested/exercised (in dollars per share)		0
Weighted Average Grant Price, Canceled (in dollars per share)		0
Weighted Average Grant Price, Ending Balance (in dollars per share)		$ 34.24	$ 77.40	$ 13.70
Unrecognized compensation expense		$ 0
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive equity awards		$ 7,000,000
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive equity awards			$ 22,000,000	$ 17,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Number of Units, Beginning Balance (shares)		700,000
Effect of Spinoff (Shares)		300,000
Number of Units, Granted (shares)		0
Number of Units, Vested/exercised (shares)		(1,000,000)
Number of Units, Canceled (shares)		0
Number of Units, Ending Balance (shares)		0	700,000
Weighted Average Grant Price, Beginning Balance (in dollars per share)		$ 81.77
Weighted Average Grant Price, Granted (in dollars per share)		0
Weighted Average Grant Price, Vested/exercised (in dollars per share)		66.42
Weighted Average Grant Price, Canceled (in dollars per share)		0
Weighted Average Grant Price, Ending Balance (in dollars per share)		$ 0	$ 81.77
Unrecognized compensation expense		$ 0
Non-Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Number of Units, Beginning Balance (shares)		0
Effect of Spinoff (Shares)		0
Number of Units, Granted (shares)		800,000
Number of Units, Vested/exercised (shares)		0
Number of Units, Canceled (shares)		0
Number of Units, Ending Balance (shares)		800,000	0
Weighted Average Grant Price, Beginning Balance (in dollars per share)		$ 0
Weighted Average Grant Price, Effect of Spin-off (in dollars per share)		0
Weighted Average Grant Price, Granted (in dollars per share)		$ 48.71
Weighted Average Grant Price, Vested/exercised (in dollars per share)		0
Weighted Average Grant Price, Canceled (in dollars per share)		0
Weighted Average Grant Price, Ending Balance (in dollars per share)		$ 48.71	$ 0
Unrecognized compensation expense		$ 5,000,000
Incentive equity awards vesting ratably over a period, in years		3 years 5 months

Stock-Based Compensation (Weigh

Stock-Based Compensation (Weighted Average Grant Date Fair Value Assumptions) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amount included in Stock-Based Compensation Expense	$ 150,000,000	$ 68,000,000	$ 66,000,000
Stock-based compensation	129,000,000	59,000,000	57,000,000
Stock-based compensation	23,000,000	53,000,000	55,000,000
Separation related costs	105,000,000	4,000,000	0
Payments related to Tax Witholding for Share-based Compensation	$ 60,000,000	$ 39,000,000	$ 36,000,000
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value	$ 34.24	$ 77.40	$ 13.70
Grant date strike price			$ 71.65
Expected volatility			27.81%
Expected life (years)			5 years 2 months
Risk free interest rate			1.33%
Projected dividend yield			2.79%
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value	8.48
Grant date strike price	$ 48.71
Expected volatility	26.01%
Expected life (years)	4 years 3 months
Risk free interest rate	2.73%
Non-employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 1,000,000	$ 2,000,000	$ 1,000,000
Restructuring
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amount included in Stock-Based Compensation Expense		1,000,000
Stock-based compensation		1,000,000
Discontinued Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 22,000,000	$ 11,000,000	$ 11,000,000

Stock-Based Compensation Expens

Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 129	$ 59	$ 57
Payments related to Tax Witholding for Share-based Compensation	60	39	36
Non-employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	1	2	1
Discontinued Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 22	$ 11	$ 11

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Contribution Plan Disclosure [Line Items]
Net pension liability as other non-current liabilities	$ 4	$ 5
Ending Balance, value	569	(774)	$ (633)
Pension expense	(1)	1	3
United States
Defined Contribution Plan Disclosure [Line Items]
Defined contribution benefit plans cost	33	35	36
Foreign Plan
Defined Contribution Plan Disclosure [Line Items]
Defined contribution benefit plans cost	10	11	11
Discontinued Operations
Defined Contribution Plan Disclosure [Line Items]
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax	4
Net pension liability as other non-current liabilities		14
Defined Benefit Pension Plans
Defined Contribution Plan Disclosure [Line Items]
Ending Balance, value	$ (1)	$ 4	$ 5

Segment Information (Summary Of

Segment Information (Summary Of Segment Information) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Information [Line Items]
Net revenues	$ 956,000,000	$ 1,062,000,000	$ 1,007,000,000	$ 907,000,000	$ 931,000,000	$ 1,015,000,000	$ 978,000,000	$ 883,000,000	$ 3,931,000,000	$ 3,806,000,000	$ 3,692,000,000
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Net income attributable to Wyndham Destinations shareholders					416,000,000	264,000,000	84,000,000	90,000,000	672,000,000	854,000,000	611,000,000
Net income attributable to noncontrolling interest					0	0	1,000,000	0	0	1,000,000	1,000,000
Income on disposal of discontinued business, net of income taxes	(4,000,000)	(20,000,000)	(432,000,000)	0					(456,000,000)	0	0
Loss/(income) from operations of discontinued businesses, net of income taxes	(2,000,000)	$ 3,000,000	$ 42,000,000	$ 7,000,000	28,000,000	$ (162,000,000)	$ (71,000,000)	$ (4,000,000)	50,000,000	(209,000,000)	(260,000,000)
Provision/(benefit) for income taxes									130,000,000	(328,000,000)	190,000,000
Depreciation and amortization									138,000,000	136,000,000	127,000,000
Interest expense									170,000,000	155,000,000	133,000,000
Loss on early extinguishment of debt									0	0	11,000,000
Interest (income)									(5,000,000)	(6,000,000)	(7,000,000)
Venezuela currency devaluation									0	0	24,000,000
Executive departure costs									0	0	6,000,000
Separation and related costs									223,000,000	26,000,000	0
Restructuring									16,000,000	14,000,000	12,000,000
Asset impairments									(4,000,000)	205,000,000	0
Legacy items									1,000,000	(6,000,000)	(11,000,000)
Acquisition gain, net									0	(13,000,000)	0
Stock-based compensation									23,000,000	53,000,000	55,000,000
Value-added tax refund									(16,000,000)	0	0
Adjusted EBITDA									942,000,000	882,000,000	892,000,000
Adjusted EBITDA
Adjusted EBITDA									942,000,000	882,000,000	892,000,000
Separation related costs									105,000,000	4,000,000	0
Amount included in Stock-Based Compensation Expense									150,000,000	68,000,000	66,000,000
Segment Assets
Segment assets	7,158,000,000				6,886,000,000				7,158,000,000	6,886,000,000	6,690,000,000
Assets of discontinued operations and held-for-sale business	203,000,000				0				203,000,000	0	0
Capital Expenditures									99,000,000	107,000,000	117,000,000
Operating Segments
Segment Information [Line Items]
Net revenues									3,934,000,000	3,808,000,000	3,690,000,000
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Adjusted EBITDA									1,009,000,000	977,000,000	985,000,000
Adjusted EBITDA
Adjusted EBITDA									1,009,000,000	977,000,000	985,000,000
Segment Assets
Segment assets	6,797,000,000				6,718,000,000				6,797,000,000	6,718,000,000	6,451,000,000
Capital Expenditures									91,000,000	99,000,000	98,000,000
Corporate and Other
Segment Information [Line Items]
Net revenues									(3,000,000)	(2,000,000)	2,000,000
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Adjusted EBITDA									(67,000,000)	(95,000,000)	(93,000,000)
Adjusted EBITDA
Adjusted EBITDA									(67,000,000)	(95,000,000)	(93,000,000)
Segment Assets
Segment assets	158,000,000				168,000,000				158,000,000	168,000,000	239,000,000
Capital Expenditures									8,000,000	8,000,000	19,000,000
Vacation Ownership | Operating Segments
Segment Information [Line Items]
Net revenues									3,016,000,000	2,881,000,000	2,774,000,000
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Adjusted EBITDA									731,000,000	709,000,000	724,000,000
Adjusted EBITDA
Adjusted EBITDA									731,000,000	709,000,000	724,000,000
Segment Assets
Segment assets	5,421,000,000				5,246,000,000				5,421,000,000	5,246,000,000	5,060,000,000
Capital Expenditures									66,000,000	72,000,000	67,000,000
Exchange & Rentals | Operating Segments
Segment Information [Line Items]
Net revenues									918,000,000	927,000,000	916,000,000
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Adjusted EBITDA									278,000,000	268,000,000	261,000,000
Adjusted EBITDA
Adjusted EBITDA									278,000,000	268,000,000	261,000,000
Segment Assets
Segment assets	$ 1,376,000,000				$ 1,472,000,000				1,376,000,000	1,472,000,000	1,391,000,000
Capital Expenditures									$ 25,000,000	27,000,000	$ 31,000,000
Restructuring
Adjusted EBITDA
Amount included in Stock-Based Compensation Expense										$ 1,000,000

Segment Information (Schedule o

Segment Information (Schedule of Geographic Segment Information) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Information [Line Items]
Net revenues	$ 956	$ 1,062	$ 1,007	$ 907	$ 931	$ 1,015	$ 978	$ 883	$ 3,931	$ 3,806	$ 3,692
Net long-lived assets	1,743				1,876				1,743	1,876	1,720
United States
Segment Information [Line Items]
Net revenues									3,500	3,359	3,209
Net long-lived assets	1,471				1,581				1,471	1,581	1,609
All Other Countries
Segment Information [Line Items]
Net revenues									431	447	483
Net long-lived assets	$ 272				$ 295				$ 272	$ 295	$ 111

Separation and Transaction Co_2

Separation and Transaction Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Separation and related costs	$ 223	$ 26	$ 0
Spin-Off, Hotel Group Business
Related Party Transaction [Line Items]
Separation and related costs	223
Severance costs	$ 217
Discontinued Operations
Related Party Transaction [Line Items]
Separation and related costs		$ 26

Impairments and Other Charges (

Impairments and Other Charges (Details) $ in Millions	1 Months Ended	3 Months Ended			7 Months Ended	12 Months Ended
	May 31, 2017USD ($)location	Sep. 30, 2018USD ($)	Dec. 31, 2017USD ($)	Jun. 30, 2017USD ($)location	Dec. 31, 2017USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Number of properties assessed for future development | location	19
Number of properties deemed to have no future development | location	17
Number of properties deemed impaired | location	16
Impairment of land held for vacation ownership interests		$ 4			$ 13
Impairment reversal		4
Number of Properties Deemed Impaired, Write-off of Construction in Process Costs | location				6
Asset impairments						$ (4)	$ 205	$ 0
Number of Impaired Properties Sold | location	3
Cash consideration from sale of locations	$ 2				$ 2
Gain (loss) on sale of locations				$ (7)
Number of Additional Impaired Properties Sold | location	2
Impairment charges related to abandonment of new product initiative						5	205	0
Proceeds from asset sales		11				12	6	16
Gain (Loss) on Sale of Properties		$ 8
Property, plant, and equipment write-down			$ 37				37
Inventory write-down							28
Venezuela currency devaluation						$ 0	0	(24)
Vacation Ownership
Impairment charges related to abandonment of new product initiative							5
Land | Vacation Ownership
Impairment of land held for vacation ownership interests				121			135
Construction in progress | Vacation Ownership
Impairment of land held for vacation ownership interests				14
VOI Development
Impairment of land held for vacation ownership interests				27
Asset impairments				$ 135
Impairment charges related to abandonment of new product initiative							$ 65
Operating Expense
Venezuela currency devaluation								$ 24

Transactions with Former Pare_2

Transactions with Former Parent and Former Subsidiaries (Narrative) (Details) £ in Millions, $ in Millions	May 31, 2018USD ($)	Jan. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2018GBP (£)
Separation Adjustments And Transactions With Former Parent And Subsidiaries [Line Items]
Accrued expenses and other liabilities			$ 74	$ 2
Escrow deposit			35	65
British Travel Association and Regulatory Authorities
Separation Adjustments And Transactions With Former Parent And Subsidiaries [Line Items]
Secured bonding facility and perpetual guarantee			46
Accrued expenses and other liabilities			22
Receivable from related party			7
Amount accrued			40
Escrow deposit			$ 46
Affiliated Entity
Separation Adjustments And Transactions With Former Parent And Subsidiaries [Line Items]
Contingent and other corporate liabilities retained			0.25		0.25
Liabilities assumed			$ 18	$ 16
Tax liabilities assumed			13
Other contingent and corporate liabilities assumed			$ 5
Removal of capital lease obligation	$ 66
Removal of capital lease asset	$ 43
Affiliated Entity | Cendant
Separation Adjustments And Transactions With Former Parent And Subsidiaries [Line Items]
Responsible liability for separation agreement			37.50%
Affiliated Entity | Realogy
Separation Adjustments And Transactions With Former Parent And Subsidiaries [Line Items]
Responsible liability for separation agreement			62.50%
Transaction Services Agreement Expense | British Travel Association and Regulatory Authorities
Separation Adjustments And Transactions With Former Parent And Subsidiaries [Line Items]
Related party expense			$ 6
Revenue from related parties			8
Sale Of European Vacation Rental Business | Affiliated Entity
Separation Adjustments And Transactions With Former Parent And Subsidiaries [Line Items]
Accrued expenses and other liabilities			2
Cash pooling arrangement, minimum amount maintained | £					£ 10
Sale Of European Vacation Rental Business | Affiliated Entity | Barclays Bank PLC
Separation Adjustments And Transactions With Former Parent And Subsidiaries [Line Items]
Escrow deposit			5
Additional amount paid into escrow | £					£ 1
Sale Of European Vacation Rental Business | Affiliated Entity | Financial Guarantee
Separation Adjustments And Transactions With Former Parent And Subsidiaries [Line Items]
Secured bonding facility and perpetual guarantee			180
Sale Of European Vacation Rental Business | Affiliated Entity | Indemnification Agreement
Separation Adjustments And Transactions With Former Parent And Subsidiaries [Line Items]
Accrued expenses and other liabilities			43
Sale Of European Vacation Rental Business | Affiliated Entity | Wyndham Hotels And Resorts, Inc. | Financial Guarantee | British Travel Association and Regulatory Authorities
Separation Adjustments And Transactions With Former Parent And Subsidiaries [Line Items]
Secured bonding facility and perpetual guarantee			81
Accrued expenses and other liabilities			39
Sale Of European Vacation Rental Business | European vacation rentals business | Accrued Liabilities and Other Liabilities
Separation Adjustments And Transactions With Former Parent And Subsidiaries [Line Items]
Accrued expenses and other liabilities			96
Sale Of European Vacation Rental Business | European vacation rentals business | Wyndham Hotels And Resorts, Inc. | Other Assets
Separation Adjustments And Transactions With Former Parent And Subsidiaries [Line Items]
Accrued expenses and other liabilities			23
Transaction Service Agreement | Affiliated Entity
Separation Adjustments And Transactions With Former Parent And Subsidiaries [Line Items]
Related party expense			3
Revenue from related parties			$ 3
Subsequent Event | British Travel Association and Regulatory Authorities
Separation Adjustments And Transactions With Former Parent And Subsidiaries [Line Items]
Change in proceeds		$ 27
Estimated Net Payable		$ 40

Restructuring (Narrative) (Deta

Restructuring (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)employee	Dec. 31, 2017USD ($)employee	Dec. 31, 2016USD ($)facilityemployee	Dec. 31, 2015USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 16	$ 14	$ 12
Cash payments	9	15	6
Restructuring liabilities	12	5	7	$ 3
Personnel-Related
Restructuring Cost and Reserve [Line Items]
Restructuring	16	14	8
Cash payments	8	13	5
Restructuring liabilities	12	4	4	1
Asset Impairment
Restructuring Cost and Reserve [Line Items]
Restructuring			2
Cash payments			0
Restructuring liabilities			0	0
Facility-Related
Restructuring Cost and Reserve [Line Items]
Restructuring	0	0	2
Cash payments	1	2	1
Restructuring liabilities	0	1	3	$ 2
Restructuring Plan 2018
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 16
Number of positions eliminated | employee	500
Restructuring Plan 2018 | Personnel-Related
Restructuring Cost and Reserve [Line Items]
Cash payments	$ 4
Restructuring liabilities	12
Restructuring Plan 2018 | Personnel-Related | Vacation Ownership
Restructuring Cost and Reserve [Line Items]
Restructuring	11
Restructuring Plan 2018 | Personnel-Related | Exchange & Rentals
Restructuring Cost and Reserve [Line Items]
Restructuring	4
Restructuring Plan 2018 | Personnel-Related | Corporate and Other
Restructuring Cost and Reserve [Line Items]
Restructuring	1
Restructuring Plan 2017
Restructuring Cost and Reserve [Line Items]
Restructuring		$ 14
Number of positions eliminated | employee		200
Restructuring Plan 2017 | Personnel-Related
Restructuring Cost and Reserve [Line Items]
Cash payments	3	$ 9
Payments of stock issuance		1
Restructuring liabilities		11
Restructuring Plan 2017 | Personnel-Related | Exchange & Rentals
Restructuring Cost and Reserve [Line Items]
Restructuring		8
Restructuring Plan 2017 | Personnel-Related | Corporate and Other
Restructuring Cost and Reserve [Line Items]
Restructuring		6
Restructuring Plan 2016
Restructuring Cost and Reserve [Line Items]
Restructuring			12
Cash payments	1	5	$ 5
Number of sales offices closed | facility			4
Restructuring Plan 2016 | Personnel-Related
Restructuring Cost and Reserve [Line Items]
Restructuring			$ 8
Number of positions eliminated | employee			450
Restructuring Plan 2016 | Personnel-Related | Vacation Ownership
Restructuring Cost and Reserve [Line Items]
Restructuring			$ 4
Restructuring Plan 2016 | Personnel-Related | Exchange & Rentals
Restructuring Cost and Reserve [Line Items]
Restructuring			4
Restructuring Plan 2016 | Asset Impairment
Restructuring Cost and Reserve [Line Items]
Restructuring			2
Restructuring Plan 2016 | Facility-Related
Restructuring Cost and Reserve [Line Items]
Restructuring			2
Restructuring liabilities	1
Restructuring Plans, Additional
Restructuring Cost and Reserve [Line Items]
Cash payments	1	$ 1	$ 1
Restructuring liabilities	$ 1

Restructuring (Activity Related

Restructuring (Activity Related To The Restructuring Costs) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Restructuring Cost and Reserve [Roll Forward]
Liability beginning	$ 5	$ 7	$ 3
Restructuring	16	14	12
Cash payments	(9)	(15)	(6)
Other	0	(1)	(2)
Liability ending	12	5	7
Personnel-Related
Restructuring Cost and Reserve [Roll Forward]
Liability beginning	4	4	1
Restructuring	16	14	8
Cash payments	(8)	(13)	(5)
Other	0	(1)	0
Liability ending	12	4	4
Facility-Related
Restructuring Cost and Reserve [Roll Forward]
Liability beginning	1	3	2
Restructuring	0	0	2
Cash payments	(1)	(2)	(1)
Other	0	0	0
Liability ending	0	1	3
Asset Impairment
Restructuring Cost and Reserve [Roll Forward]
Liability beginning		0	0
Restructuring			2
Cash payments			0
Other			(2)
Liability ending			0
Restructuring Costs Recognized
Restructuring Cost and Reserve [Roll Forward]
Restructuring	$ 16	$ 14	$ 12

Selected Quarterly Financial _3

Selected Quarterly Financial Data - (unaudited) (Summary of Quarterly Financial Data) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Information Data [Line Items]
Net revenues	$ 956	$ 1,062	$ 1,007	$ 907	$ 931	$ 1,015	$ 978	$ 883	$ 3,931	$ 3,806	$ 3,692
Total expenses	797	865	942	804	839	831	933	763	3,408	3,367	3,034
Operating income	159	197	65	103	92	184	45	120	523	439	658
Income/(loss) from continuing operations	106	131	(12)	41	444	102	14	86	266	646	352
(Loss)/income from operations of discontinued businesses, net of income taxes	2	(3)	(42)	(7)	(28)	162	71	4	(50)	209	260
Income on disposal of discontinued business, net of income taxes	4	20	432	0					456	0	0
Net income	$ 112	$ 148	$ 378	$ 34	416	264	85	90	672	855	612
Net income attributable to noncontrolling interest					0	0	(1)	0	0	(1)	(1)
Net income attributable to Wyndham Destinations shareholders					$ 416	$ 264	$ 84	$ 90	$ 672	$ 854	$ 611
Basic earnings per share
Continuing operations	$ 1.10	$ 1.32	$ (0.12)	$ 0.41	$ 4.40	$ 1	$ 0.13	$ 0.82	$ 2.69	$ 6.26	$ 3.19
Discontinued operations	0.06	0.17	3.90	(0.07)	(0.28)	1.58	0.68	0.04	4.11	2.03	2.37
Basic (in dollars per share)	1.16	1.49	3.78	0.34	4.12	2.58	0.81	0.86	6.80	8.29	5.56
Diluted earnings per share
Continuing operations (in dollars per share)	1.10	1.31	(0.12)	0.41	4.36	0.99	0.13	0.81	2.68	6.22	3.17
Continuing operations	0.06	0.18	3.89	(0.07)	(0.27)	1.58	0.68	0.04	4.09	2.02	2.35
Discontinued operations	$ 1.16	$ 1.49	$ 3.77	$ 0.34	$ 4.09	$ 2.57	$ 0.81	$ 0.85	$ 6.77	$ 8.24	$ 5.52
Weighted average shares outstanding
Basic (in shares)	96.3	99.1	100	100.1	100.9	102.4	103.8	105.2	98.9	103	109.9
Diluted (in shares)	96.7	99.5	100.3	100.8	101.8	102.9	104.4	106	99.2	103.7	110.6

Related Party Transaction (Deta

Related Party Transaction (Details) $ in Millions	1 Months Ended
	Jan. 31, 2019USD ($)
Affiliated Entity | Subsequent Event
Related Party Transaction [Line Items]
Company aircraft sale	$ 16