Marriott Vacations Worldwide (VAC) 10-Q 15 Oct 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	8 Months Ended
	Sep. 11, 2015	Oct. 09, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 11, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	VAC
Entity Registrant Name	MARRIOTT VACATIONS WORLDWIDE Corp
Entity Central Index Key	1,524,358
Current Fiscal Year End Date	--01-02
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		31,065,226

Interim Consolidated Statements

Interim Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended				8 Months Ended
	Sep. 11, 2015		Sep. 12, 2014		Sep. 11, 2015		Sep. 12, 2014
REVENUES
Sale of vacation ownership products	$ 136,802		$ 155,384		$ 476,078		$ 452,796
Resort management and other services	73,828		70,981		212,308		209,348
Financing	28,294		29,545		85,640		90,002
Rental	76,039		65,620		224,880		190,972
Cost reimbursements	92,173		91,508		285,937		281,769
TOTAL REVENUES	407,136		413,038		1,284,843		1,224,887
EXPENSES
Cost of vacation ownership products	40,776		48,640		150,857		138,925
Marketing and sales	71,628		73,380		228,760		216,827
Resort management and other services	47,409		47,857		135,298		141,061
Financing	5,488		5,434		16,478		15,976
Rental	62,567		54,605		184,560		166,386
General and administrative	23,214		21,932		68,883		66,913
Litigation settlement			3,225		(236)		(4,350)
Organizational and separation related	439		332		732		2,272
Consumer financing interest	5,289		5,605		16,558		17,967
Royalty fee	14,000		14,339		40,431		41,420
Impairment			26				860
Cost reimbursements	92,173		91,508		285,937		281,769
TOTAL EXPENSES	362,983		366,883		1,128,258		1,086,026
(Losses) gains and other (expense) income	(20)		207		9,492		1,849
Interest expense	(2,839)		(2,890)		(8,822)		(7,638)
Equity in earnings	50		38		148		156
Other	(5,181)				(6,453)
INCOME BEFORE INCOME TAXES	36,163		43,510		150,950		133,228
Provision for income taxes	(14,608)		(17,862)		(61,300)		(52,969)
NET INCOME	$ 21,555	[1]	$ 25,648	[2]	$ 89,650	[1]	$ 80,259	[2]
Basic earnings per share	$ 0.69	[1]	$ 0.77	[2]	$ 2.81	[1]	$ 2.35	[2]
Shares used in computing basic earnings per share	31,455	[1]	33,374	[2]	31,870	[1]	34,180	[2]
Diluted earnings per share	$ 0.67	[1]	$ 0.75	[2]	$ 2.75	[1]	$ 2.28	[2]
Shares used in computing diluted earnings per share	32,128	[1]	34,366	[2]	32,550	[1]	35,161	[2]
Dividends declared per share of common stock	$ 0.25				$ 0.75
[1]	The computations of diluted earnings per share exclude approximately 167,000 shares of common stock, the maximum number of shares issuable as of September 11, 2015 upon the vesting of certain performance-based awards, because the performance conditions required for the shares subject to such awards to vest were not achieved by the end of the reporting period.
[2]	The computations of diluted earnings per share exclude approximately 179,000 shares of common stock, the maximum number of shares issuable as of September 12, 2014 upon the vesting of certain performance-based awards, because the performance conditions required for the shares subject to such awards to vest were not achieved by the end of the reporting period.

Interim Consolidated Statement3

Interim Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended				8 Months Ended
	Sep. 11, 2015		Sep. 12, 2014		Sep. 11, 2015		Sep. 12, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 21,555	[1]	$ 25,648	[2]	$ 89,650	[1]	$ 80,259	[2]
Other comprehensive loss, net of tax:
Foreign currency translation adjustments	(1,392)		(3,047)		(3,749)		(3,127)
Derivative instrument adjustments	(59)
Total other comprehensive loss, net of tax	(1,451)		(3,047)		(3,749)		(3,127)
COMPREHENSIVE INCOME	$ 20,104		$ 22,601		$ 85,901		$ 77,132
[1]	The computations of diluted earnings per share exclude approximately 167,000 shares of common stock, the maximum number of shares issuable as of September 11, 2015 upon the vesting of certain performance-based awards, because the performance conditions required for the shares subject to such awards to vest were not achieved by the end of the reporting period.
[2]	The computations of diluted earnings per share exclude approximately 179,000 shares of common stock, the maximum number of shares issuable as of September 12, 2014 upon the vesting of certain performance-based awards, because the performance conditions required for the shares subject to such awards to vest were not achieved by the end of the reporting period.

Interim Consolidated Balance Sh

Interim Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 11, 2015	Jan. 02, 2015
ASSETS
Cash and cash equivalents	$ 321,690	$ 346,515
Restricted cash (including $93,803 and $34,986 from VIEs, respectively)	121,752	109,907
Accounts and contracts receivable, net (including $4,211 and $4,992 from VIEs, respectively)	128,321	109,700
Vacation ownership notes receivable, net (including $704,349 and $750,680 from VIEs, respectively)	887,456	917,228
Inventory	721,664	772,784
Property and equipment	247,317	147,379
Other	98,827	127,066
Total Assets	2,527,027	2,530,579
LIABILITIES AND EQUITY
Accounts payable	77,516	114,079
Advance deposits	66,436	60,192
Accrued liabilities (including $1,635 and $1,088 from VIEs, respectively)	150,928	165,969
Deferred revenue	44,499	38,818
Payroll and benefits liability	87,871	93,073
Liability for Marriott Rewards customer loyalty program	73,904	89,285
Deferred compensation liability	48,468	41,677
Mandatorily redeemable preferred stock of consolidated subsidiary, net	38,935	38,816
Debt, net (including $776,648 and $708,031 from VIEs, respectively)	769,716	703,013
Other	38,239	27,071
Deferred taxes	94,544	78,883
Total Liabilities	$ 1,491,056	$ 1,450,876
Contingencies and Commitments (Note 8)
Preferred stock - $0.01 par value; 2,000,000 shares authorized; none issued or outstanding
Common stock - $0.01 par value; 100,000,000 shares authorized; 36,355,412 and 36,089,513 shares issued, respectively	$ 363	$ 361
Treasury stock - at cost; 5,294,063 and 3,996,725 shares, respectively	(335,339)	(229,229)
Additional paid-in capital	1,138,049	1,137,785
Accumulated other comprehensive income	13,305	17,054
Retained earnings	219,593	153,732
Total Equity	1,035,971	1,079,703
Total Liabilities and Equity	$ 2,527,027	$ 2,530,579

Interim Consolidated Balance S5

Interim Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 11, 2015	Jan. 02, 2015
Restricted cash	$ 121,752	$ 109,907
Accounts and contracts receivable	128,321	109,700
Vacation ownership notes receivable	887,456	917,228
Accrued liabilities	150,928	165,969
Debt, net	$ 769,716	$ 703,013
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	36,355,412	36,089,513
Treasury stock, shares	5,294,063	3,996,725
Variable Interest Entity
Restricted cash	$ 93,803	$ 34,986
Accounts and contracts receivable	4,211	4,992
Vacation ownership notes receivable	704,349	750,680
Accrued liabilities	1,635	1,088
Debt, net	$ 776,648	$ 708,031

Interim Consolidated Statement6

Interim Consolidated Statements of Cash Flows $ in Thousands	8 Months Ended
	Sep. 11, 2015USD ($)		Sep. 12, 2014USD ($)
OPERATING ACTIVITIES
Net income	$ 89,650	[1]	$ 80,259	[2]
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	13,850		13,183
Amortization of debt issuance costs	3,739		3,762
Provision for loan losses	22,753		22,725
Share-based compensation	9,633		9,354
Deferred income taxes	17,261		29,523
Equity method income	(148)		(156)
Gain on disposal of property and equipment, net	(9,492)		(1,849)
Non-cash litigation settlement	(262)
Impairment charges			860
Net change in assets and liabilities:
Accounts and contracts receivable	(17,799)		(8,609)
Notes receivable originations	(189,029)		(169,784)
Notes receivable collections	192,852		203,728
Inventory	51,467		61,740
Purchase of operating hotels for future conversion to inventory	(61,554)
Other assets	26,524		45,650
Accounts payable, advance deposits and accrued liabilities	(52,380)		(67,160)
Deferred revenue	5,742		4,228
Payroll and benefit liabilities	(4,959)		(4,855)
Liability for Marriott Rewards customer loyalty program	(15,384)		(22,737)
Deferred compensation liability	6,791		3,340
Other liabilities	6,236		3,196
Other, net	5,233		80
Net cash provided by operating activities	100,724		206,478
INVESTING ACTIVITIES
Capital expenditures for property and equipment (excluding inventory)	(20,873)		(7,753)
Purchase of operating hotel to be sold	(47,658)
(Increase) decrease in restricted cash	(12,616)		20,656
Dispositions, net	20,605		33,310
Net cash (used in) provided by investing activities	(60,542)		46,213
FINANCING ACTIVITIES
Borrowings from securitization transactions	255,000		22,638
Repayment of debt related to securitization transactions	(186,383)		(162,680)
Proceeds from vacation ownership inventory arrangement	5,375
Debt issuance costs	(4,405)		(1,676)
Repurchase of common stock	(106,110)		(160,155)
Payment of dividends	(16,003)
Proceeds from stock option exercises	96		1,723
Excess tax benefits from share-based compensation	68
Payment of withholding taxes on vesting of restricted stock units	(9,615)		(5,130)
Other	213
Net cash used in financing activities	(61,764)		(305,280)
Effect of changes in exchange rates on cash and cash equivalents	(3,243)		(790)
DECREASE IN CASH AND CASH EQUIVALENTS	(24,825)		(53,379)
CASH AND CASH EQUIVALENTS, beginning of period	346,515		199,511
CASH AND CASH EQUIVALENTS, end of period	321,690		146,132
SUPPLEMENTAL DISCLOSURES OF NON-CASH FINANCING ACTIVITIES
Non-cash impact on Additional paid-in capital for changes in Deferred tax liabilities distributed to Marriott Vacations Worldwide at Spin-Off	(77)		$ (2,097)
Non-cash issuance of note receivable	(500)
Dividends payable	$ (7,786)
[1]	The computations of diluted earnings per share exclude approximately 167,000 shares of common stock, the maximum number of shares issuable as of September 11, 2015 upon the vesting of certain performance-based awards, because the performance conditions required for the shares subject to such awards to vest were not achieved by the end of the reporting period.
[2]	The computations of diluted earnings per share exclude approximately 179,000 shares of common stock, the maximum number of shares issuable as of September 12, 2014 upon the vesting of certain performance-based awards, because the performance conditions required for the shares subject to such awards to vest were not achieved by the end of the reporting period.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	8 Months Ended
	Sep. 11, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Our Business Marriott Vacations Worldwide Corporation (“Marriott Vacations Worldwide,” “we” or “us,” which includes our consolidated subsidiaries except where the context of the reference is to a single corporate entity) is the exclusive worldwide developer, marketer, seller and manager of vacation ownership and related products under the Marriott Vacation Club and Grand Residences by Marriott brands. We are also the exclusive worldwide developer, marketer and seller of vacation ownership and related products under The Ritz-Carlton Destination Club brand, and we have the non-exclusive right to develop, market and sell whole ownership residential products under The Ritz-Carlton Residences brand. The Ritz-Carlton Hotel Company, L.L.C. (“The Ritz-Carlton Hotel Company”), a subsidiary of Marriott International, Inc. (“Marriott International”), generally provides on-site management for Ritz-Carlton branded properties. Our business is grouped into three reportable segments: North America, Europe and Asia Pacific. As of September 11, 2015, our portfolio consisted of 61 properties, including two hotels, in the United States and eight other countries and territories. We generate most of our revenues from four primary sources: selling vacation ownership products; managing our resorts; financing consumer purchases; and renting vacation ownership inventory. Our Spin-Off from Marriott International, Inc. On November 21, 2011, the spin-off of Marriott Vacations Worldwide from Marriott International (the “Spin-Off”) was completed. In connection with the Spin-Off, we entered into several agreements that govern the ongoing relationship between Marriott Vacations Worldwide and Marriott International. Principles of Consolidation and Basis of Presentation The interim consolidated financial statements presented herein and discussed below include 100 percent of the assets, liabilities, revenues, expenses and cash flows of Marriott Vacations Worldwide, all entities in which Marriott Vacations Worldwide has a controlling voting interest (“subsidiaries”), and those variable interest entities for which Marriott Vacations Worldwide is the primary beneficiary in accordance with consolidation accounting guidance. Intercompany accounts and transactions between consolidated companies have been eliminated in consolidation. The interim consolidated financial statements reflect our financial position, results of operations and cash flows as prepared in conformity with United States Generally Accepted Accounting Principles (“GAAP”). In order to make this report easier to read, we refer throughout to (i) our Interim Consolidated Financial Statements as our “Financial Statements,” (ii) our Interim Consolidated Statements of Income as our “Statements of Income,” (iii) our Interim Consolidated Balance Sheets as our “Balance Sheets,” and (iv) our Interim Consolidated Statements of Cash Flows as our “Cash Flows.” In addition, references throughout to numbered “Footnotes” refer to the numbered Notes in these Notes to Interim Consolidated Financial Statements, unless otherwise noted. Unless otherwise specified, each reference to a particular quarter in these Financial Statements means the twelve weeks ended on the date shown in the following table, rather than the corresponding calendar quarter: Fiscal Year Quarter-End Date 2015 Third Quarter September 11, 2015 2015 Second Quarter June 19, 2015 2015 First Quarter March 27, 2015 2014 Third Quarter September 12, 2014 2014 Second Quarter June 20, 2014 2014 First Quarter March 28, 2014 In our opinion, our Financial Statements reflect all normal and recurring adjustments necessary to present fairly our financial position and the results of our operations and cash flows for the periods presented. Interim results may not be indicative of fiscal year performance because of, among other reasons, seasonal and short-term variations. These Financial Statements have not been audited. Amounts as of January 2, 2015 included in these Financial Statements have been derived from the audited consolidated financial statements as of that date. We have condensed or omitted certain information and footnote disclosures normally included in financial statements presented in accordance with GAAP. Although we believe our footnote disclosures are adequate to make the information presented not misleading, you should read these Financial Statements in conjunction with the consolidated financial statements and notes to those consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended January 2, 2015. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Such estimates include, but are not limited to, revenue recognition, cost of vacation ownership products, inventory valuation, property and equipment valuation, loan loss reserves, Marriott Rewards customer loyalty program liability, self-insured medical plan reserves, equity-based compensation, income taxes and loss contingencies. Accordingly, actual amounts may differ from these estimated amounts. We have reclassified certain prior year amounts to conform to our current period presentation. New Accounting Standards Accounting Standards Update No. 2015-16 – “ Simplifying the Accounting for Measurement-Period Adjustments (Topic 805): Business Combinations In September 2015, the Financial Accounting Standards Board (“FASB”) issued ASU 2015-16, which replaces the requirement that an acquirer in a business combination account for measurement period adjustments retrospectively with a requirement that an acquirer recognize adjustments to the provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. ASU 2015-16 requires that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. For public business entities, ASU 2015-16 is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The guidance is to be applied prospectively to adjustments to provisional amounts that occur after the effective date of the guidance, with earlier application permitted for financial statements that have not been issued. Our early adoption of ASU 2015-16 in the third quarter of 2015 did not have a material impact on our Financial Statements. Accounting Standards Update No. 2015-11 – “ Simplifying the Measurement of Inventory (Topic 330): Inventory In July 2015, the FASB issued ASU 2015-11, which requires an entity to measure inventory at the lower of cost or net realizable value, which consists of the estimated selling prices in the ordinary course of business, less reasonably predictable cost of completion, disposal, and transportation. For public entities, the updated guidance is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The guidance is to be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. Our early adoption of ASU 2015-11 in the third quarter of 2015 did not have a material impact on our Financial Statements as it applies solely to our operating inventories. This guidance is not applicable to our vacation ownership inventory. Accounting Standards Update No. 2015-03 – “ Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs In April 2015, the FASB issued ASU 2015-03, which requires debt issuance costs related to a debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability instead of being presented as an asset. The recognition and measurement guidance for debt issuance costs has not changed. ASU 2015-03 requires retrospective application and represents a change in accounting principle. ASU 2015-03 is effective for fiscal years beginning after December 15, 2015 and early adoption is permitted for financial statements that have not been previously issued. Our early adoption of ASU 2015-03 in the first quarter of 2015 did not have a material impact on our Financial Statements. In June 2015, the staff of the Securities and Exchange Commission (“SEC”) announced that it would not object to an entity always presenting debt issuance costs related to revolving debt arrangements as an asset, regardless of whether a balance was outstanding, while amortizing the costs ratably over the term of the revolving debt arrangement. As a result, we applied the SEC staff guidance beginning in the second quarter of 2015 and began presenting costs associated with our revolving debt arrangements as an asset. We have applied these changes retrospectively to all periods presented. Accounting Standards Update No. 2015-02 – “ Consolidation (Topic 810): Amendments to the Consolidation Analysis In February 2015, the FASB issued ASU 2015-02, which amends the guidance for evaluating whether to consolidate certain legal entities. Specifically, ASU 2015-02 modifies the method for determining whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities. Further, it eliminates the presumption that a general partner should consolidate a limited partnership and impacts the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships. The updated guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted. Our early adoption of ASU 2015-02 in the first quarter of 2015 did not have a material impact on our Financial Statements. Future Adoption of Accounting Standards Accounting Standards Update No. 2014-09 – “ Revenue from Contracts with Customers (Topic 606) In May 2014, the FASB issued ASU 2014-09. ASU 2014-09 supersedes the revenue recognition requirements in Topic 605, Revenue Recognition

INCOME TAXES

INCOME TAXES	8 Months Ended
	Sep. 11, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	2. INCOME TAXES We file U.S. consolidated federal and state tax returns, as well as consolidated and separate tax filings for non-U.S. jurisdictions. Our total unrecognized tax benefit balance that, if recognized, would impact our effective tax rate was $1.5 million and $1.3 million at September 11, 2015 and January 2, 2015, respectively. We have joined in the Marriott International U.S. federal tax consolidated filing for periods up to the date of the Spin-Off. The U.S. Internal Revenue Service (the “IRS”) has examined Marriott International’s federal income tax returns, and it has settled all issues related to the timeshare business for the tax years through the Spin-Off. Our tax years subsequent to the Spin-Off are subject to examination by relevant tax authorities; currently our 2011 and 2012 returns are being audited by the IRS and our 2012 and 2013 returns are being audited by tax authorities in foreign jurisdictions. Although we do not anticipate that a significant impact to our unrecognized tax benefit balance will occur during the next fiscal year, the amount of our liability for unrecognized tax benefits could change as a result of these audits. Pursuant to a Tax Sharing and Indemnification Agreement with Marriott International effective November 21, 2011, as subsequently amended, Marriott International is liable and shall pay the relevant tax authority for all taxes related to our taxable income prior to the Spin-Off.

VACATION OWNERSHIP NOTES RECEIV

VACATION OWNERSHIP NOTES RECEIVABLE	8 Months Ended
	Sep. 11, 2015
Receivables [Abstract]
VACATION OWNERSHIP NOTES RECEIVABLE	3. VACATION OWNERSHIP NOTES RECEIVABLE The following table shows the composition of our vacation ownership notes receivable balances, net of reserves: ($ in thousands) September 11, 2015 January 2, 2015 Vacation ownership notes receivable — securitized $ 704,349 $ 750,680 Vacation ownership notes receivable — non-securitized Eligible for securitization (1)(2) 34,426 24,194 Not eligible for securitization (1) 148,681 142,354 Subtotal 183,107 166,548 Total vacation ownership notes receivable $ 887,456 $ 917,228 (1) Refer to Footnote No. 4, “Financial Instruments,” for discussion of eligibility of our vacation ownership notes receivable. (2) We expect that these vacation ownership notes receivable will be purchased by the MVW Owner Trust 2015-1 (the “2015-1 Trust”) prior to December 31, 2015 in accordance with the terms of the securitization transaction completed in the third quarter of 2015. Refer to Footnote No. 9, “Debt,” for discussion of the terms of this securitization transaction and the purchase of additional vacation ownership notes receivable by the 2015-1 Trust. The following tables show future principal payments, net of reserves, as well as interest rates for our non-securitized and securitized vacation ownership notes receivable at September 11, 2015: ($ in thousands) Non-Securitized Securitized Total 2015 $ 25,581 $ 34,374 $ 59,955 2016 34,509 102,199 136,708 2017 25,737 97,524 123,261 2018 18,140 85,683 103,823 2019 13,851 77,450 91,301 Thereafter 65,289 307,119 372,408 Balance at September 11, 2015 $ 183,107 $ 704,349 $ 887,456 Weighted average stated interest rate 11.7% 12.8% 12.5% Range of stated interest rates 0.0% to 19.5% 4.9% to 19.5% 0.0% to 19.5% We reflect interest income associated with vacation ownership notes receivable on our Statements of Income in the Financing revenues caption. The following table summarizes interest income associated with vacation ownership notes receivable: Twelve Weeks Ended Thirty-Six Weeks Ended ($ in thousands) September 11, September 12, September 11, September 12, Interest income associated with vacation ownership notes receivable — securitized $ 20,005 $ 18,930 $ 59,992 $ 60,259 Interest income associated with vacation ownership notes receivable — non-securitized 6,921 9,146 21,428 25,282 Total interest income associated with vacation ownership notes receivable $ 26,926 $ 28,076 $ 81,420 $ 85,541 We record an estimate of expected uncollectibility on all notes receivable from vacation ownership purchasers as a reduction of revenues from the sale of vacation ownership products at the time we recognize profit on a vacation ownership product sale. We fully reserve for all defaulted vacation ownership notes receivable in addition to recording a reserve on the estimated uncollectible portion of the remaining vacation ownership notes receivable. For those vacation ownership notes receivable that are not in default, we assess collectibility based on pools of vacation ownership notes receivable because we hold large numbers of homogeneous vacation ownership notes receivable. We use the same criteria to estimate uncollectibility for non-securitized vacation ownership notes receivable and securitized vacation ownership notes receivable because they perform similarly. We estimate uncollectibility for each pool based on historical activity for similar vacation ownership notes receivable. The following table summarizes the activity related to our vacation ownership notes receivable reserve for the thirty-six weeks ended September 11, 2015: ($ in thousands) Non-Securitized Securitized Total Balance at January 2, 2015 $ 64,752 $ 53,666 $ 118,418 Provision for loan losses 15,068 7,413 22,481 Securitizations (12,622) 12,622 — Clean-up calls (1) 5,725 (5,725) — Write-offs (32,706) — (32,706) Defaulted vacation ownership notes receivable repurchase activity (2) 17,802 (17,802) — Balance at September 11, 2015 $ 58,019 $ 50,174 $ 108,193 (1) Refers to our voluntary repurchase of previously securitized non-defaulted vacation ownership notes receivable to retire outstanding vacation ownership notes receivable securitizations. (2) Decrease in securitized vacation ownership notes receivable reserve and increase in non-securitized vacation ownership notes receivable reserve was attributable to the transfer of the reserve when we voluntarily repurchased the securitized vacation ownership notes receivable. Although we consider loans to owners to be past due if we do not receive payment within 30 days of the due date, we suspend accrual of interest only on those loans that are over 90 days past due. We consider loans over 150 days past due to be in default. We apply payments we receive for vacation ownership notes receivable on non-accrual status first to interest, then to principal and any remainder to fees. We resume accruing interest when vacation ownership notes receivable are less than 90 days past due. We do not accept payments for vacation ownership notes receivable during the foreclosure process unless the amount is sufficient to pay all past due principal, interest, fees and penalties owed and fully reinstate the note. We write off uncollectible vacation ownership notes receivable against the reserve once we receive title to the vacation ownership products through the foreclosure or deed-in-lieu process or, in Europe or Asia Pacific, when revocation is complete. For both non-securitized and securitized vacation ownership notes receivable, we estimated average remaining default rates of 6.83 percent and 6.95 percent as of September 11, 2015 and January 2, 2015, respectively. A 0.5 percentage point increase in the estimated default rate would have resulted in an increase in our allowance for loan losses of $4.5 million as of September 11, 2015 and $4.7 million as of January 2, 2015. The following table shows our recorded investment in non-accrual vacation ownership notes receivable, which are vacation ownership notes receivable that are 90 days or more past due: ($ in thousands) Non-Securitized Securitized Total Investment in vacation ownership notes receivable on non-accrual status at September 11, 2015 $ 52,520 $ 5,967 $ 58,487 Investment in vacation ownership notes receivable on non-accrual status at January 2, 2015 $ 60,275 $ 7,172 $ 67,447 Average investment in vacation ownership notes receivable on non-accrual status during the twelve weeks ended September 11, 2015 $ 53,778 $ 6,879 $ 60,657 Average investment in vacation ownership notes receivable on non-accrual status during the twelve weeks ended September 12, 2014 $ 64,576 $ 7,027 $ 71,603 Average investment in vacation ownership notes receivable on non-accrual status during the thirty-six weeks ended September 11, 2015 $ 56,397 $ 6,570 $ 62,967 Average investment in vacation ownership notes receivable on non-accrual status during the thirty-six weeks ended September 12, 2014 $ 65,857 $ 7,022 $ 72,879 The following table shows the aging of the recorded investment in principal, before reserves, in vacation ownership notes receivable as of September 11, 2015: ($ in thousands) Non-Securitized Securitized Total 31 – 90 days past due $ 7,444 $ 15,482 $ 22,926 91 – 150 days past due 5,103 5,351 10,454 Greater than 150 days past due 47,417 616 48,033 Total past due 59,964 21,449 81,413 Current 181,162 733,074 914,236 Total vacation ownership notes receivable $ 241,126 $ 754,523 $ 995,649 The following table shows the aging of the recorded investment in principal, before reserves, in vacation ownership notes receivable as of January 2, 2015: ($ in thousands) Non-Securitized Securitized Total 31 – 90 days past due $ 8,330 $ 22,544 $ 30,874 91 – 150 days past due 6,101 7,003 13,104 Greater than 150 days past due 54,174 169 54,343 Total past due 68,605 29,716 98,321 Current 162,695 774,630 937,325 Total vacation ownership notes receivable $ 231,300 $ 804,346 $ 1,035,646

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	8 Months Ended
	Sep. 11, 2015
Investments, All Other Investments [Abstract]
FINANCIAL INSTRUMENTS	4. FINANCIAL INSTRUMENTS The following table shows the carrying values and the estimated fair values of financial assets and liabilities that qualify as financial instruments, determined in accordance with the authoritative guidance for disclosures regarding the fair value of financial instruments. Considerable judgment is required in interpreting market data to develop estimates of fair value. The use of different market assumptions and/or estimation methodologies could have a material effect on the estimated fair value amounts. The table excludes Cash and cash equivalents, Restricted cash, Accounts and contracts receivable, Accounts payable, Advance deposits and Accrued liabilities, all of which had fair values approximating their carrying amounts due to the short maturities and liquidity of these instruments. At September 11, 2015 At January 2, 2015 ($ in thousands) Carrying Amount Fair Value (1) Carrying Amount Fair Value (1) Vacation ownership notes receivable Securitized $ 704,349 $ 861,004 $ 750,680 $ 909,391 Non-securitized 183,107 191,387 166,548 172,103 Derivative instruments 1,068 1,068 — — Total financial assets $ 888,524 $ 1,053,459 $ 917,228 $ 1,081,494 Non-recourse debt associated with vacation ownership notes receivable securitizations, gross $ (776,648) $ (780,427) $ (708,031) $ (712,977) Other debt, gross (3,519) (3,519) (3,306) (3,306) Mandatorily redeemable preferred stock of consolidated subsidiary, gross (40,000) (42,562) (40,000) (43,837) Liability for Marriott Rewards customer loyalty program (73,904) (66,605) (89,285) (80,448) Other liabilities (4,205) (4,205) (4,118) (4,118) Total financial liabilities $ (898,276) $ (897,318) $ (844,740) $ (844,686) (1) Fair value of financial instruments, with the exception of derivative instruments, has been determined using Level 3 inputs. Fair value of derivative instruments has been determined using Level 2 inputs. Vacation Ownership Notes Receivable We estimate the fair value of our securitized vacation ownership notes receivable using a discounted cash flow model. We believe this is comparable to the model that an independent third party would use in the current market. Our model uses default rates, prepayment rates, coupon rates and loan terms for our securitized vacation ownership notes receivable portfolio as key drivers of risk and relative value, that when applied in combination with pricing parameters, determine the fair value of the underlying vacation ownership notes receivable. Due to factors that impact the general marketability of our non-securitized vacation ownership notes receivable, as well as current market conditions, we bifurcate our vacation ownership notes receivable at each balance sheet date into those eligible and not eligible for securitization using criteria applicable to current securitization transactions in the asset-backed securities (“ABS”) market. Generally, vacation ownership notes receivable are considered not eligible for securitization if any of the following attributes are present: (1) payments are greater than 30 days past due; (2) the first payment has not been received; or (3) the collateral is located in Europe or Asia. In some cases eligibility may also be determined based on the credit score of the borrower, the remaining term of the loans and other similar factors that may reflect investor demand in a securitization transaction or the cost to effectively securitize the vacation ownership notes receivable. The following table shows the bifurcation of our non-securitized vacation ownership notes receivable into those eligible and not eligible for securitization based upon the aforementioned eligibility criteria: At September 11, 2015 At January 2, 2015 ($ in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Vacation ownership notes receivable Eligible for securitization (1) $ 34,426 $ 42,706 $ 24,194 $ 29,749 Not eligible for securitization 148,681 148,681 142,354 142,354 Total non-securitized $ 183,107 $ 191,387 $ 166,548 $ 172,103 (1) We expect that these vacation ownership notes receivable will be purchased by the 2015-1 Trust prior to December 31, 2015 in accordance with the terms of the securitization transaction completed in the third quarter of 2015. Refer to Footnote No. 9, “Debt,” for discussion of the terms of this securitization transaction and the purchase of additional vacation ownership notes receivable by the 2015-1 Trust. We estimate the fair value of the portion of our non-securitized vacation ownership notes receivable that we believe will ultimately be securitized in the same manner as securitized vacation ownership notes receivable. We value the remaining non-securitized vacation ownership notes receivable at their carrying value, rather than using our pricing model. We believe that the carrying value of these particular vacation ownership notes receivable approximates fair value because the stated interest rates of these loans are consistent with current market rates and the reserve for these vacation ownership notes receivable appropriately accounts for risks in default rates, prepayment rates and loan terms. Derivative Instruments During 2015, we entered into a foreign exchange forward contract to hedge the risks associated with a forecasted transaction anticipated to be denominated in a foreign currency. We do not apply hedge accounting to this derivative instrument, and therefore it is marked to market. The fair value of the contract is determined using indicative foreign currency exchange rates from public market data, which are considered Level 2 fair value inputs. Non-Recourse Debt Associated with Securitized Vacation Ownership Notes Receivable We generate cash flow estimates by modeling all bond tranches for our active vacation ownership notes receivable securitization transactions, with consideration for the collateral specific to each tranche. The key drivers in our analysis include default rates, prepayment rates, bond interest rates and other structural factors, which we use to estimate the projected cash flows. In order to estimate market credit spreads by rating, we obtain indicative credit spreads from investment banks that actively issue and facilitate the market for vacation ownership securities and determine an average credit spread by rating level of the different tranches. We then apply those estimated market spreads to swap rates in order to estimate an underlying discount rate for calculating the fair value of the active bonds payable. Mandatorily Redeemable Preferred Stock of Consolidated Subsidiary We estimate the fair value of the mandatorily redeemable preferred stock of our consolidated subsidiary using a discounted cash flow model. We believe this is comparable to the model that an independent third party would use in the current market. Our model includes an assessment of our subsidiary’s credit risk and the instrument’s contractual dividend rate. Liability for Marriott Rewards Customer Loyalty Program We determine the carrying value of the future redemption obligation of our liability for the Marriott Rewards customer loyalty program based on statistical formulas that project the timing of future redemption of Marriott Rewards Points based on historical levels, including estimates of the number of Marriott Rewards Points that will eventually be redeemed and the “breakage” for points that will never be redeemed. We estimate the fair value of the future redemption obligation by adjusting the contractual discount rate to an estimate of that of a market participant with similar nonperformance risk. Other Liabilities We estimate the fair value of our other liabilities that are financial instruments using expected future payments discounted at risk-adjusted rates. These liabilities represent guarantee costs and other structured payments. The carrying values of our financial instruments within Other liabilities approximate their fair values.

ACQUISITIONS AND DISPOSITIONS

ACQUISITIONS AND DISPOSITIONS	8 Months Ended
	Sep. 11, 2015
Business Combinations [Abstract]
ACQUISITIONS AND DISPOSITIONS	5. ACQUISITIONS AND DISPOSITIONS Acquisitions Surfers Paradise, Australia During the third quarter of 2015, we completed the acquisition of an operating hotel located in Surfers Paradise, Australia, for AUD $84.5 million ($62.3 million). The acquisition was treated as a business combination and accounted for using the acquisition method of accounting. As such, all transaction costs were expensed as incurred and have been included in the “Other” line of our Statements of Income. As consideration for the acquisition, we paid AUD $82.6 million ($61.0 million) in cash and assumed net liabilities of AUD $1.9 million ($1.3 million), which was allocated based on the fair value at the date of acquisition as follows: AUD $28.9 million ($21.3 million) to land, AUD $49.5 million ($36.5 million) to buildings and leasehold improvements and AUD $6.1 million ($4.5 million) to furniture and equipment. Fair value was determined using an independent appraisal, which was primarily based on a discounted cash flow model, a Level 3 fair value input. We intend to convert a portion of this hotel, which the related portion of the purchase price is classified as an operating activity on our Cash Flows, in the near term into vacation ownership interests for future use in our Asia Pacific segment, and to sell the remaining downsized hotel, which the related portion of the purchase price is classified as an investing activity on our Cash Flows, to a third party. Washington, D.C. During the third quarter of 2015, we completed the acquisition of 71 rooms at The Mayflower Hotel, Autograph Collection, an operating hotel located in Washington, D.C., for $32.0 million. The asset acquisition was treated as a purchase of inventory and we intend to include these vacation ownership units, in their current form, in our North America points-based program, Marriott Vacation Club Destinations ™ (“MVCD”) program in the near term. San Diego, California During the first quarter of 2015, we completed the acquisition of an operating hotel located in San Diego, California, for $55.0 million. The acquisition was treated as a business combination and accounted for using the acquisition method of accounting. As consideration for the acquisition, we paid $55.0 million in cash, which was allocated based on the fair value at the date of acquisition as follows: $54.3 million to property and equipment and $0.7 million to other assets. Fair value was determined using an independent appraisal, which was primarily based on a discounted cash flow model, a Level 3 fair value input. We intend to convert this hotel in the near term into vacation ownership interests for future use in our MVCD program. In order to ensure consistency with the expected related future cash flow presentation, $46.6 million of the cash purchase price allocated to property and equipment was included as an operating activity in the Purchase of operating hotels for future conversion to inventory line on our Cash Flows for the thirty-six weeks ended September 11, 2015. The remaining $7.7 million was included as an investing activity in the Capital expenditures for property and equipment line on our Cash Flows for the thirty-six weeks ended September 11, 2015, as it was allocated to assets to be used prior to conversion of the hotel to vacation ownership interests, as well as ancillary and sales center assets to be retained after the conversion. Dispositions Kauai, Hawaii During the second quarter of 2015, we completed the sale of the remaining portion of our undeveloped land in Kauai, Hawaii for gross cash proceeds of $20.0 million. We accounted for the sale under the full accrual method in accordance with the authoritative guidance on accounting for sales of real estate and recorded a gain of $8.7 million, which is included in the (Losses) gains and other (expense) income line on our Statements of Income for the twelve and thirty-six weeks ended September 11, 2015. As a result of this sale, we have completed the transactions, a portion of which was completed in 2014, contemplated by the purchase and sale agreement that we entered into during the second quarter of 2014 providing for the sale of undeveloped and partially developed land, an operating golf course and related assets in Kauai, Hawaii for $60.0 million in gross cash proceeds. Marco Island, Florida During the first quarter of 2015, we sold real property located in Marco Island, Florida, consisting of $3.1 million of vacation ownership inventory, to a third-party developer. We received consideration consisting of $5.4 million of cash and a note receivable of $0.5 million. We did not recognize any gain or loss on this transaction. In accordance with our agreement with the third-party developer, we are obligated to repurchase the completed property from the developer contingent upon the property meeting our brand standards, provided that the third-party developer has not sold the property to another party. In accordance with the authoritative guidance on accounting for sales of real estate, our conditional obligation to repurchase the property constitutes continuing involvement and thus we were unable to account for this transaction as a sale. The property was sold to a variable interest entity for which we are not the primary beneficiary as we do not control the variable interest entity’s development activities and cannot prevent the variable interest entity from selling the property to another party. Accordingly, we have not consolidated the variable interest entity. As of September 11, 2015, our Balance Sheet reflects $7.0 million of Other liabilities that relate to the deferral of gain recognition for this transaction, which will reduce our basis in the asset if we repurchase the property. In addition, the note receivable of $0.5 million and other receivables of $0.2 million are included in the Accounts and contracts receivable line on the Balance Sheet as of September 11, 2015. The cash consideration received for the sale of the real property is included in Proceeds from vacation ownership inventory arrangements on our Cash Flows for the thirty-six weeks ended September 11, 2015. We believe that our maximum exposure to loss as a result of our involvement with this variable interest entity is our interest in the note receivable and the other receivables discussed above as of September 11, 2015. Orlando, Florida During the first quarter of 2014, we disposed of a golf course and adjacent undeveloped land in Orlando, Florida for $24.0 million in gross cash proceeds. As a condition of the sale, we continued to operate the golf course through the end of the first quarter of 2015 at our own risk. We utilized the performance of services method to record a gain of $3.1 million over the period during which we operated the golf course, of which $0 and $0.2 million is included in the (Losses) gains and other (expense) income line on our Statements of Income for the twelve weeks ended September 11, 2015 and September 12, 2014, respectively, and $0.9 million and $1.8 million is included in the (Losses) gains and other (expense) income line on our Statements of Income for the thirty-six weeks ended September 11, 2015 and September 12, 2014, respectively.

EARNINGS PER SHARE

EARNINGS PER SHARE	8 Months Ended
	Sep. 11, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	6. EARNINGS PER SHARE Basic earnings per common share is calculated by dividing net income attributable to common shareholders by the weighted average number of shares of common stock outstanding during the reporting period. Treasury stock is excluded from the weighted average number of shares of common stock outstanding. Diluted earnings per common share is calculated to give effect to all potentially dilutive common shares that were outstanding during the reporting period. The dilutive effect of outstanding equity-based compensation awards is reflected in diluted earnings per common share by application of the treasury stock method using average market prices during the period. The table below illustrates the reconciliation of the earnings and number of shares used in our calculation of basic and diluted earnings per share. Twelve Weeks Ended Thirty-Six Weeks Ended (in thousands, except per share amounts) September 11, (1) September 12, (2) September 11, (1) September 12, (2) Computation of Basic Earnings Per Share Net income $ 21,555 $ 25,648 $ 89,650 $ 80,259 Weighted average shares outstanding 31,455 33,374 31,870 34,180 Basic earnings per share $ 0.69 $ 0.77 $ 2.81 $ 2.35 Computation of Diluted Earnings Per Share Net income $ 21,555 $ 25,648 $ 89,650 $ 80,259 Weighted average shares outstanding 31,455 33,374 31,870 34,180 Effect of dilutive shares outstanding Employee stock options and SARs 443 537 458 559 Restricted stock units 230 455 222 422 Shares for diluted earnings per share 32,128 34,366 32,550 35,161 Diluted earnings per share $ 0.67 $ 0.75 $ 2.75 $ 2.28 (1) The computations of diluted earnings per share exclude approximately 167,000 shares of common stock, the maximum number of shares issuable as of September 11, 2015 upon the vesting of certain performance-based awards, because the performance conditions required for the shares subject to such awards to vest were not achieved by the end of the reporting period. (2) The computations of diluted earnings per share exclude approximately 179,000 shares of common stock, the maximum number of shares issuable as of September 12, 2014 upon the vesting of certain performance-based awards, because the performance conditions required for the shares subject to such awards to vest were not achieved by the end of the reporting period. In accordance with the applicable accounting guidance for calculating earnings per share, for the twelve and thirty-six week periods ended September 11, 2015 and September 12, 2014, we have not excluded any shares underlying stock options or stock appreciation rights (“SARs”) that may be settled in shares of common stock from our calculation of diluted earnings per share as no exercise prices were greater than the average market prices for the applicable period.

INVENTORY

INVENTORY	8 Months Ended
	Sep. 11, 2015
Inventory Disclosure [Abstract]
INVENTORY	7. INVENTORY The following table shows the composition of our inventory balances: ($ in thousands) At September 11, 2015 At January 2, 2015 Finished goods (1) $ 351,850 $ 413,066 Land and infrastructure (2) 364,128 355,198 Real estate inventory 715,978 768,264 Operating supplies and retail inventory 5,686 4,520 $ 721,664 $ 772,784 (1) Represents completed inventory that is either registered for sale as vacation ownership interests, or unregistered and available for sale in its current form. (2) Includes $48.4 million of sales centers that are expected to be converted into vacation ownership products to be sold in the future and $80.7 million of inventory related to estimated future foreclosures at September 11, 2015. We value vacation ownership and residential products at the lower of cost or fair market value less costs to sell, in accordance with applicable accounting guidance, and we record operating supplies at the lower of cost (using the first-in, first-out method) or net realizable value.

CONTINGENCIES AND COMMITMENTS

CONTINGENCIES AND COMMITMENTS	8 Months Ended
	Sep. 11, 2015
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES AND COMMITMENTS	8. CONTINGENCIES AND COMMITMENTS Guarantees We have historically issued guarantees to certain lenders in connection with the provision of third-party financing for our sale of vacation ownership products for the North America and Asia Pacific segments. The terms of these guarantees generally require us to fund if the purchaser fails to pay under the term of its note payable. Prior to the Spin-Off, Marriott International guaranteed our performance under these arrangements, and following the Spin-Off continues to hold a standby letter of credit related to the Asia Pacific segment guarantee. If Marriott International is required to fund any draws by lenders under this letter of credit it would seek recourse from us. Marriott International no longer guarantees our performance with respect to third-party financing for sales of products in the North America segment. We are entitled to recover any payments we make to third-party lenders under these guarantees through reacquisition and resale of the financed vacation ownership product. Our commitments under these guarantees expire as the underlying notes mature or are repaid. The terms of the underlying notes extend to 2022. The following table shows the maximum potential amount of future fundings for financing guarantees where we are the primary obligor and the carrying amount of the liability for expected future fundings, which is included on our Balance Sheet in the Other caption within Liabilities. ($ in thousands) Maximum Potential Liability for Expected Future Fundings Segment Asia Pacific $ 5,822 $ 59 North America 2,846 177 Total guarantees where we are the primary obligor $ 8,668 $ 236 Commitments and Letters of Credit In addition to the guarantees we describe in the preceding paragraphs, as of September 11, 2015, we had the following commitments outstanding: • We have various contracts for the use of information technology hardware and software that we use in the normal course of business. Our aggregate commitments under these contracts were $27.6 million, of which we expect $5.3 million, $8.3 million, $5.8 million, $2.6 million, $1.5 million and $4.1 million will be paid in 2015, 2016, 2017, 2018, 2019 and thereafter, respectively. • We have commitments of $2.5 million to subsidize vacation ownership associations, which we expect to pay in the fourth quarter of 2015. • We have a commitment of $75.5 million to purchase vacation ownership units located in Miami, Florida, contingent upon satisfactory completion of construction and receipt of a certificate of occupancy, for use in our MVCD program. We made an initial deposit of $3.8 million in connection with this commitment in 2014, and we are committed to make an additional deposit of $3.8 million upon the seller’s receipt of a temporary certificate of occupancy. The remaining payment of $67.9 million is due upon acquisition of the units, which we expect to occur within one year. In the event that the seller fails to obtain a permanent certificate of occupancy for the entire project on or about the end of October, we may terminate the contract and receive a return of the deposit. We also have the right to extend this deadline in 30 day increments up to a total of 90 days. We are currently evaluating the use of a capital efficient arrangement to delay the timing of this capital investment. • We have a commitment of $38.5 million to purchase vacation ownership units located on the Big Island of Hawaii, for use in our MVCD program, contingent upon the seller subjecting the units to a condominium regime prior to our purchase. We made a deposit of $1.5 million in connection with this commitment in 2014, and we are committed to make the remaining payment of $37.0 million upon satisfaction of the condition that the seller subject the units to a condominium regime, which we expect to occur within one year. Upon acquisition, we are committed to renovate the units pursuant to a property improvement plan to be agreed upon at a later date, for which an additional $45.0 million to $55.0 million will be required to be funded. We are currently evaluating the use of a capital efficient arrangement to delay the timing of this capital investment. • We have a commitment of $137.1 million to purchase vacation ownership units located in Marco Island, Florida, of which we expect $33.3 million, $50.0 million and $53.8 million will be paid in 2017, 2018 and 2019, respectively. See Footnote No. 5, “Acquisitions and Dispositions,” for additional information on this transaction. Surety bonds issued as of September 11, 2015 totaled $78.4 million, the majority of which were requested by federal, state or local governments related to our operations. Additionally, as of September 11, 2015, we had $3.3 million of letters of credit outstanding under our $200 million revolving credit facility (the “Revolving Corporate Credit Facility”). Loss Contingencies In December 2012, Jon Benner, an owner of fractional interests at The Ritz-Carlton Club and Residences, San Francisco (the “RCC San Francisco”), filed suit in Superior Court for the State of California, County of San Francisco, against us and certain of our subsidiaries on behalf of a putative class consisting of all owners of fractional interests at the RCC San Francisco who allegedly did not receive proper notice of their payment obligations under California’s Mello-Roos Community Facilities Act of 1982 (the “Mello-Roos Act”). The plaintiff alleged that the disclosures made about bonds issued for the project under this Act and the payment obligations of fractional interest purchasers with respect to such bonds were inadequate, and this and other alleged statutory violations constituted intentional and negligent misrepresentation, fraud and fraudulent concealment. The relief sought included damages in an unspecified amount, rescission of the purchases, restitution and disgorgement of profits. In September 2014, we reached an agreement to settle the Benner action on the basis of a stipulated class, which was approved by the court on March 31, 2015. At September 11, 2015, we had an accrual of $0.9 million related to the settlement. In April 2013, Krishna and Sherrie Narayan and other owners of 12 residential units at the resort formerly known as The Ritz-Carlton Residences, Kapalua Bay (“Kapalua Bay”) filed an amended complaint related to a suit originally filed in Circuit Court for Maui County, Hawaii in June 2012 against us, certain of our subsidiaries, Marriott International, certain of its subsidiaries, and the joint venture in which we have an equity investment that developed and marketed vacation ownership and residential products at Kapalua Bay (the “Joint Venture”). In the original complaint, the plaintiffs alleged that defendants mismanaged funds of the residential owners association (the “Kapalua Bay Association”), created a conflict of interest by permitting their employees to serve on the Kapalua Bay Association’s board, and failed to disclose documents to which the plaintiffs were allegedly entitled. The amended complaint alleges breach of fiduciary duty, violations of the Hawaii Unfair and Deceptive Trade Practices Act and the Hawaii condominium statute, intentional misrepresentation and concealment, unjust enrichment and civil conspiracy. The relief sought in the amended complaint includes injunctive relief, repayment of all sums paid to us and our subsidiaries and Marriott International and its subsidiaries, compensatory and punitive damages, and treble damages under the Hawaii Unfair and Deceptive Trade Practices Act. We dispute the material allegations in the amended complaint and continue to defend against this action vigorously. We filed a motion in the Circuit Court to compel arbitration of plaintiffs’ claims. That motion was denied, but on appeal the Hawaii Intermediate Court of Appeals reversed. The Hawaii Supreme Court, on June 3, 2015, reversed the decision of the Intermediate Court of Appeals and reinstated the action in Circuit Court, which has set the case for trial beginning September 16, 2016. We filed a petition with the United States Supreme Court on October 1, 2015, seeking review of the Hawaii Supreme Court’s decision. Additionally, in 2014, owners of two residential units agreed to release their claims in this action. Given the inherent uncertainties of litigation, we cannot estimate a range of the potential liability, if any, at this time. In June 2013, Earl C. and Patricia A. Charles, owners of a fractional interest at Kapalua Bay, together with owners of 38 other fractional interests at Kapalua Bay, filed an amended complaint in the Circuit Court of the Second Circuit for the State of Hawaii against us, certain of our subsidiaries, Marriott International, certain of its subsidiaries, the Joint Venture, and other entities that have equity investments in the Joint Venture. The plaintiffs allege that the defendants failed to disclose the financial condition of the Joint Venture and the commitment of the defendants to the Joint Venture, and that defendants’ actions constituted fraud and violated the Hawaii Unfair and Deceptive Trade Practices Act, the Hawaii Condominium Property Act and the Hawaii Time Sharing Plans statute. The relief sought includes compensatory and punitive damages, attorneys’ fees, pre-judgment interest, declaratory relief, rescission and treble damages under the Hawaii Unfair and Deceptive Trade Practices Act. The complaint was subsequently further amended to add owners of two additional fractional interests as plaintiffs. The Circuit Court granted our motion to compel arbitration of the claims asserted by the plaintiffs. Plaintiffs appealed that decision to the Hawaii Intermediate Court of Appeals and also initiated arbitration. On July 24, 2015, the Intermediate Court of Appeals reversed the decision of the Circuit Court and directed that the action be reinstated in the Circuit Court. We dispute the material allegations in the amended complaint and intend to defend against this action vigorously. Given the early stages of the action and the inherent uncertainties of litigation, we cannot estimate a range of the potential liability, if any, at this time. Additionally, owners of two fractional interests have since agreed to release their claims in this action, and the owners of another fractional interest, who are not parties to the Charles action, agreed to release similar claims, in each instance for nominal sums. In August 2014, Michael and Marla Flynn, owners of weeks-based Marriott Vacation Club vacation ownership products at two of our resorts in Hawaii, filed a claim with the American Arbitration Association on behalf of a putative class consisting of themselves and all others similarly situated. The claimants alleged that the introduction of the MVCD program caused an actionable decrease in the value of their vacation ownership interests. The relief sought included compensatory and exemplary damages, restitution, injunctive relief, interest and attorneys’ fees pursuant to applicable timeshare and unfair trade practices acts and common-law theories of breach of contract and breach of an implied covenant of good faith and fair dealing. On March 30, 2015, the arbitrator ruled that the Flynns’ claims are not subject to arbitration, and dismissed the Flynn proceeding. On October 2, 2015, Michael and Marla Flynn, joined by Patrick and Mary Flynn as Trustees of the Flynn Family Trust, filed a civil action in the United States District Court for the District of Hawaii, asserting similar claims and seeking similar relief on behalf of themselves and a putative class consisting of themselves and all others similarly situated. The complaint has not yet been served. We dispute the material allegations in the complaint and intend to defend against the action vigorously. Given the early stages of the action and the inherent uncertainties of litigation, we cannot estimate a range of potential liability, if any, at this time. On January 29, 2015, Norman and Carreen Abramson, owners of weeks-based Marriott Vacation Club vacation ownership products at one of our resorts in California and of our points-based Marriott Vacation Club vacation ownership product, filed an action in the United States District Court for the Central District of California on behalf of a putative class consisting of themselves and all others similarly situated. Mr. and Mrs. Abramson alleged that the introduction of the MVCD program caused an actionable decrease in the value of their vacation ownership interests, and sought as relief compensatory and punitive damages, restitution, injunctive relief, interest and attorneys’ fees pursuant to applicable timeshare, consumer protection and unfair competition acts. On March 30, 2015, we filed a motion to dismiss. On June 30, 2015, Mr. and Mrs. Abramson filed a motion for class certification, which the Court denied on September 28, 2015. Mr. and Mrs. Abramson also amended their complaint, and we filed a motion to dismiss the amended complaint on October 9, 2015. We dispute the material allegations in the amended complaint and intend to defend against the action vigorously. Given the early stages of the action and the inherent uncertainties of litigation, we cannot estimate a range of potential liability, if any, at this time. On May 26, 2015, we and certain of our subsidiaries were named as defendants in an action filed in the Superior Court of San Francisco County, California, by William and Sharon Petrick and certain other present and former owners of fractional interests at the RCC San Francisco. The case is not filed as a putative class action. The plaintiffs allege that the affiliation of the RCC San Francisco with MVCD, certain alleged sales practices, and other alleged acts of Marriott Vacations Worldwide and the other defendants caused an actionable decrease in the value of their fractional interests. The relief sought includes, among other things, compensatory and punitive damages, rescission, and pre- and post-judgment interest. Plaintiffs filed an amended complaint on October 9, 2015, and our response is due November 6, 2015. We dispute the material allegations in the amended complaint and intend to defend against the action vigorously. Given the early stages of the action and the inherent uncertainties of litigation, we cannot estimate a range of the potential liability, if any, at this time. Other We estimate the cash outflow associated with completing the phases of our existing portfolio of vacation ownership projects currently under development will be approximately $13.1 million, of which $4.3 million is included within liabilities on our Balance Sheet at September 11, 2015. This estimate is based on our current development plans, which remain subject to change, and we expect the phases currently under development will be completed by 2017. During the second quarter of 2014, we agreed to settle a dispute with a service provider relating to services provided to us prior to 2011. In connection with the settlement, we received a one-time payment of $7.6 million from the service provider, which no longer provides services to us. We recorded a gain of $7.6 million as a result of the settlement, which is included in the Litigation settlement line on our Statement of Income for the thirty-six weeks ended September 12, 2014.

DEBT

DEBT	8 Months Ended
	Sep. 11, 2015
Debt Disclosure [Abstract]
DEBT	9. DEBT The following table provides detail on our debt balances, net of unamortized debt issuance costs: ($ in thousands) At September 11, 2015 At January 2, 2015 Vacation ownership notes receivable securitizations, gross (1) $ 776,648 $ 708,031 Unamortized debt issuance costs (10,187) (8,090) 766,461 699,941 Other debt, gross 3,519 3,306 Unamortized debt issuance costs (264) (234) 3,255 3,072 $ 769,716 $ 703,013 (1) Interest rates as of September 11, 2015 range from 2.2% to 7.2% with a weighted average interest rate of 2.8%. See Footnote No. 13, “Variable Interest Entities,” for a discussion of the collateral for the non-recourse debt associated with the securitized vacation ownership notes receivable and our non-recourse warehouse credit facility (the “Warehouse Credit Facility”). All of our other debt was, and to the extent currently outstanding, is recourse to us but unsecured. The Warehouse Credit Facility currently terminates on September 15, 2016 and if not renewed, any amounts outstanding thereunder would become due and payable 13 months after termination, at which time all principal and interest collected with respect to the vacation ownership notes receivable held in the Warehouse Credit Facility would be redirected to the lenders to pay down the outstanding debt under the facility. As of September 11, 2015, there were no cash borrowings outstanding under our Warehouse Credit Facility. We generally expect to securitize our vacation ownership notes receivable, including any vacation ownership notes receivable held in the Warehouse Credit Facility, in the ABS market once per year. Although no cash borrowings were outstanding as of September 11, 2015 under our Revolving Corporate Credit Facility, any amounts that are borrowed under that facility, as well as obligations with respect to letters of credit issued pursuant to that facility, are secured by a perfected first priority security interest in substantially all of the assets of the borrower under, and guarantors of, that facility (which include Marriott Vacations Worldwide and each of our direct and indirect, existing and future, domestic subsidiaries, excluding certain bankruptcy remote special purpose subsidiaries), in each case including inventory, subject to certain exceptions. On August 13, 2015, we completed the securitization of a pool of $264.2 million of vacation ownership notes receivable. Approximately $211.4 million of the vacation ownership notes receivable were purchased on August 13, 2015 by the 2015-1 Trust, and we expect the remaining vacation ownership notes receivable to be purchased by the 2015-1 Trust prior to December 31, 2015. As of August 13, 2015, the 2015-1 Trust held $51.4 million of the proceeds, which will be released as the remaining vacation ownership notes receivable are purchased. On September 24, 2015, subsequent to the third quarter of 2015, the 2015-1 Trust purchased $31.5 million of the remaining vacation ownership notes receivable and $30.4 million was released from restricted cash. Any funds not used to purchase vacation ownership notes receivable will be returned to the investors. In connection with the securitization, investors purchased in a private placement $255.0 million in vacation ownership loan backed notes from the 2015-1 Trust. Two classes of vacation ownership loan backed notes were issued by the 2015-1 Trust: $233.2 million of Class A Notes and $21.8 million of Class B Notes. The Class A Notes have an interest rate of 2.52 percent and the Class B Notes have an interest rate of 2.96 percent, for an overall weighted average interest rate of 2.56 percent. The following table shows scheduled future principal payments for our debt: ($ in thousands) Vacation Ownership (1) Other Total Debt Principal Payments Year 2015 $ 35,357 $ 29 $ 35,386 2016 111,848 60 111,908 2017 106,587 64 106,651 2018 93,068 69 93,137 2019 81,671 74 81,745 Thereafter 348,117 3,223 351,340 Balance at September 11, 2015 $ 776,648 $ 3,519 $ 780,167 (1) The debt associated with our vacation ownership notes receivable securitizations is non-recourse to us and represents estimated principal payments assuming purchase of the remaining vacation ownership notes receivable by the 2015-1 Trust in the fourth quarter of 2015 as discussed above. As the contractual terms of the underlying securitized vacation ownership notes receivable determine the maturities of the non-recourse debt associated with them, actual maturities may occur earlier than shown above due to prepayments by the vacation ownership notes receivable obligors. We paid cash for interest, net of amounts capitalized, of $18.5 million in the thirty-six weeks ended September 11, 2015 and $19.4 million in the thirty-six weeks ended September 12, 2014, respectively. Debt Associated with Vacation Ownership Notes Receivable Securitizations Each of the transactions in which we have securitized vacation ownership notes receivable contains various triggers relating to the performance of the underlying vacation ownership notes receivable. If a pool of securitized vacation ownership notes receivable fails to perform within the pool’s established parameters (default or delinquency thresholds vary by transaction), transaction provisions effectively redirect the monthly excess spread we would otherwise receive from that pool (attributable to the interests we retained) to accelerate the principal payments to investors (taking into account the subordination of the different tranches to the extent there are multiple tranches) until the performance trigger is cured. During the thirty-six weeks ended September 11, 2015, and as of September 11, 2015, no securitized vacation ownership notes receivable pools were out of compliance with the established parameters. As of September 11, 2015, we had 7 securitized vacation ownership notes receivable pools outstanding.

MANDATORILY REDEEMABLE PREFERRE

MANDATORILY REDEEMABLE PREFERRED STOCK OF CONSOLIDATED SUBSIDIARY	8 Months Ended
	Sep. 11, 2015
Text Block [Abstract]
MANDATORILY REDEEMABLE PREFERRED STOCK OF CONSOLIDATED SUBSIDIARY	10. MANDATORILY REDEEMABLE PREFERRED STOCK OF CONSOLIDATED SUBSIDIARY In October 2011, our subsidiary, MVW US Holdings, Inc. (“MVW US Holdings”) issued $40.0 million of its mandatorily redeemable Series A (non-voting) preferred stock to Marriott International as part of Marriott International’s internal reorganization prior to the Spin-Off. Subsequently Marriott International sold all of this preferred stock to third-party investors. Until October 2016, the Series A preferred stock will pay an annual cash dividend equal to the five-year U.S. Treasury Rate as of October 19, 2011, plus a spread of 10.958 percent, for a total annual cash dividend rate of 12 percent. In October 2016, if we do not elect to redeem the preferred stock, the annual cash dividend rate will be reset to the five-year U.S. Treasury Rate in effect on such date plus the same 10.958 percent spread. The Series A preferred stock is mandatorily redeemable by MVW US Holdings upon the tenth anniversary of the date of issuance but can be redeemed at our option after five years (i.e., beginning in October 2016) at par. The Series A preferred stock has an aggregate liquidation preference of $40.0 million plus any accrued and unpaid dividends and an additional premium if liquidation occurs during the first five years after the issuance of the preferred stock. As of September 11, 2015, 1,000 shares of Series A preferred stock were authorized, of which 40 shares were issued and outstanding. The dividends are recorded as a component of Interest expense as the Series A preferred stock is treated as a liability for accounting purposes. The following table provides detail on our mandatorily redeemable preferred stock of consolidated subsidiary balance, net of unamortized debt issuance costs: ($ in thousands) At September 11, 2015 At January 2, 2015 Mandatorily redeemable preferred stock of consolidated subsidiary, gross $ 40,000 $ 40,000 Unamortized debt issuance costs (1,065) (1,184) $ 38,935 $ 38,816

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	8 Months Ended
	Sep. 11, 2015
Equity [Abstract]
SHAREHOLDERS' EQUITY	11. SHAREHOLDERS’ EQUITY Marriott Vacations Worldwide has 100,000,000 authorized shares of common stock, par value of $0.01 per share. At September 11, 2015, there were 36,355,412 shares of Marriott Vacations Worldwide common stock issued, of which 31,061,349 shares were outstanding and 5,294,063 shares were held as treasury stock. At January 2, 2015, there were 36,089,513 shares of Marriott Vacations Worldwide common stock issued, of which 32,092,788 shares were outstanding and 3,996,725 shares were held as treasury stock. Marriott Vacations Worldwide has 2,000,000 authorized shares of preferred stock, par value of $0.01 per share, none of which were issued or outstanding as of September 11, 2015 or January 2, 2015. The following table details changes in shareholders’ equity during the thirty-six weeks ended September 11, 2015: ($ in thousands) Common Stock Treasury Stock Additional Paid-In Capital Accumulated Retained Earnings Total Equity Balance at January 2, 2015 $ 361 $ (229,229) $ 1,137,785 $ 17,054 $ 153,732 $ 1,079,703 Net income — — — — 89,650 89,650 Foreign currency translation adjustments — — — (3,749) — (3,749) Amounts related to share-based compensation 2 — 341 — — 343 Adjustment to reclassification of Marriott International investment to Additional paid-in capital — — (77) — — (77) Repurchase of common stock — (106,110) — — — (106,110) Dividends — — — — (23,789) (23,789) Balance at September 11, 2015 $ 363 $ (335,339) $ 1,138,049 $ 13,305 $ 219,593 $ 1,035,971 Share Repurchase Program The following table summarizes share repurchase activity under our current share repurchase program: ($ in thousands, except per share amounts) Number of Cost of Average As of January 2, 2015 3,996,725 $ 229,229 $ 57.35 For the thirty-six weeks ended September 11, 2015 1,297,338 106,110 81.79 As of September 11, 2015 5,294,063 $ 335,339 $ 63.34 As of September 11, 2015, 1.6 million shares remained available for repurchase under the program. Dividends On September 10, 2015 our Board of Directors declared a quarterly dividend of $0.25 per share to be paid on October 8, 2015 to shareholders of record as of September 24, 2015.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	8 Months Ended
	Sep. 11, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED COMPENSATION	12. SHARE-BASED COMPENSATION A total of 6 million shares are authorized for issuance under the Marriott Vacations Worldwide Corporation Stock and Cash Incentive Plan (the “Stock Plan”). As of September 11, 2015, 1.8 million shares were available for grants under the Stock Plan. For share-based awards with service-only vesting conditions, we measure compensation expense related to share-based payment transactions with our employees and non-employee directors at fair value on the grant date. With respect to our employees, we recognize this expense on our Statements of Income over the vesting period during which the employees provide service in exchange for the award; with respect to non-employee directors, we recognize this expense on the grant date. For share-based arrangements with performance vesting conditions, we recognize compensation expense once it is probable that the corresponding performance condition will be achieved. We recorded share-based compensation expense related to award grants to our officers, directors and employees of $3.0 million for each of the twelve weeks ended September 11, 2015 and September 12, 2014, and $9.6 million and $9.2 million for the thirty-six weeks ended September 11, 2015 and September 12, 2014, respectively. Our deferred compensation liability related to unvested awards held by our employees totaled $17.2 million and $12.2 million at September 11, 2015 and January 2, 2015, respectively. Restricted Stock Units (“RSUs”) We granted 130,007 RSUs, exclusive of RSUs with performance vesting conditions, to our employees and non-employee directors during the thirty-six weeks ended September 11, 2015. RSUs granted in the thirty-six weeks ended September 11, 2015 had a weighted average grant-date fair value of $78.22. RSUs issued to our employees generally vest over four years in annual installments commencing one year after the date of grant. RSUs issued to our non-employee directors vest in full on the date of grant. During the thirty-six weeks ended September 11, 2015 and September 12, 2014, we granted RSUs with performance vesting conditions to members of management. The number of RSUs earned, if any, is determined following the end of a three-year performance period based upon our cumulative achievement over that period of specific quantitative operating financial measures. The maximum number of RSUs that may be earned under the RSUs with performance-based vesting criteria granted during the thirty-six weeks ended September 11, 2015 and September 12, 2014 was approximately 74,000 and 62,000, respectively. Stock Appreciation Rights (“SARs”) We granted 62,018 SARs to members of management during the thirty-six weeks ended September 11, 2015. These SARs had a weighted average grant-date fair value of $29.75 and a weighted average exercise price of $77.42. SARs generally expire ten years after the date of grant and both vest and may be exercised in cumulative installments of one quarter of the grant at the end of each of the first four years following the date of grant. We use the Black-Scholes model to estimate the fair value of the SARs granted. For SARs granted under the Stock Plan in the thirty-six weeks ended September 11, 2015, the expected stock price volatility was calculated based on the historical volatility from the stock prices of a group of identified peer companies. The average expected life was calculated using the simplified method. The risk-free interest rate was calculated based on U.S. Treasury zero-coupon issues with a remaining term equal to the expected life assumed at the date of grant. The dividend yield assumption listed below is based on the expectation of future payouts. The following table outlines the assumptions used to estimate the fair value of grants during the thirty-six weeks ended September 11, 2015: Expected volatility 42.74 % Dividend yield 1.26 % Risk-free rate 1.74 % Expected term (in years) 6.25 Employee Stock Purchase Plan During the second quarter of 2015, the Board of Directors adopted, and subsequently our shareholders approved, the Marriott Vacations Worldwide Corporation Employee Stock Purchase Plan (the “ESPP”), which became effective during the third quarter of 2015. A total of 500,000 shares of common stock may be purchased under the ESPP. The ESPP allows eligible employees to purchase shares of our common stock at a price per share not less than 95% of the fair market value per share of common stock on the purchase date, up to a maximum established by the plan administrator for the offering period.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	8 Months Ended
	Sep. 11, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	13. VARIABLE INTEREST ENTITIES In accordance with the applicable accounting guidance for the consolidation of variable interest entities, we analyze our variable interests, including loans, guarantees and equity investments, to determine if an entity in which we have a variable interest is a variable interest entity. Our analysis includes both quantitative and qualitative reviews. We base our quantitative analysis on the forecasted cash flows of the entity, and our qualitative analysis on our review of the design of the entity, its organizational structure including decision-making ability, and relevant financial agreements. We also use our qualitative analyses to determine if we must consolidate a variable interest entity because we are its primary beneficiary. Variable Interest Entities Related to Our Vacation Ownership Notes Receivable Securitizations We periodically securitize, without recourse, through bankruptcy remote special purpose entities, notes receivable originated in connection with the sale of vacation ownership products. These vacation ownership notes receivable securitizations provide funding for us and transfer the economic risks and substantially all the benefits of the loans to third parties. In a vacation ownership notes receivable securitization, various classes of debt securities issued by the special purpose entities are generally collateralized by a single tranche of transferred assets, which consist of vacation ownership notes receivable. We service the vacation ownership notes receivable. With each vacation ownership notes receivable securitization, we may retain a portion of the securities, subordinated tranches, interest-only strips, subordinated interests in accrued interest and fees on the securitized vacation ownership notes receivable or, in some cases, overcollateralization and cash reserve accounts. We created these entities to serve as a mechanism for holding assets and related liabilities, and the entities have no equity investment at risk, making them variable interest entities. We continue to service the vacation ownership notes receivable, transfer all proceeds collected to these special purpose entities, and retain rights to receive benefits that are potentially significant to the entities. Accordingly, we concluded that we are the entities’ primary beneficiary and, therefore, consolidate them. The following table shows consolidated assets, which are collateral for the obligations of these variable interest entities, and consolidated liabilities included on our Balance Sheet at September 11, 2015: ($ in thousands) Vacation Ownership Warehouse Credit Total Consolidated Assets: Vacation ownership notes receivable, net of reserves $ 704,349 $ — $ 704,349 Interest receivable 4,211 — 4,211 Restricted cash (1) 93,803 — 93,803 Total $ 802,363 $ — $ 802,363 Consolidated Liabilities: Interest payable $ 1,547 $ 88 $ 1,635 Debt 776,648 — 776,648 Total $ 778,195 $ 88 $ 778,283 (1) Includes $51.4 million of the proceeds from the securitization transaction completed during the third quarter of 2015, which will be released as the remaining vacation ownership notes receivable are purchased by the 2015-1 Trust. Refer to Footnote No. 9, “Debt,” for discussion of the terms of this securitization transaction and the purchase of additional vacation ownership notes receivable by the 2015-1 Trust. The noncontrolling interest balance was zero. The creditors of these entities do not have general recourse to us. The following table shows the interest income and expense recognized as a result of our involvement with these variable interest entities during the twelve weeks ended September 11, 2015: ($ in thousands) Vacation Ownership Warehouse Credit Facility Total Interest income $ 20,005 $ — $ 20,005 Interest expense to investors $ 4,003 $ 321 $ 4,324 Debt issuance cost amortization $ 688 $ 277 $ 965 Administrative expenses $ 64 $ 37 $ 101 The following table shows the interest income and expense recognized as a result of our involvement with these variable interest entities during the thirty-six weeks ended September 11, 2015: ($ in thousands) Vacation Ownership Warehouse Credit Facility Total Interest income $ 59,992 $ — $ 59,992 Interest expense to investors $ 12,659 $ 955 $ 13,614 Debt issuance cost amortization $ 2,102 $ 842 $ 2,944 Administrative expenses $ 216 $ 104 $ 320 The following table shows cash flows between us and the vacation ownership notes receivable securitization variable interest entities during the thirty-six weeks ended September 11, 2015 and September 12, 2014: Thirty-Six Weeks Ended ($ in thousands) September 11, 2015 September 12, 2014 Cash inflows: Net proceeds from vacation ownership notes receivable securitizations $ 252,361 $ 22,638 Principal receipts 127,571 124,575 Interest receipts 62,324 61,549 Reserve release 2,478 1,608 Total 444,734 210,370 Cash outflows: Principal to investors (114,561) (117,351) Voluntary repurchases of defaulted vacation ownership notes receivable (17,802) (18,289) Voluntary clean-up call (54,020) (26,722) Interest to investors (12,160) (14,104) Funding of restricted cash (1) (52,756) — Total (251,299) (176,466) Net Cash Flows $ 193,435 $ 33,904 (1) Includes $51.4 million of the proceeds from the securitization transaction completed during the third quarter of 2015, which will be released as the remaining vacation ownership notes receivable are purchased by the 2015-1 Trust. Refer to Footnote No. 9, “Debt,” for discussion of the terms of this securitization transaction and the purchase of additional vacation ownership notes receivable by the 2015-1 Trust. The following table shows cash flows between us and the Warehouse Credit Facility variable interest entity during the thirty-six weeks ended September 11, 2015 and September 12, 2014: Thirty-Six Weeks Ended ($ in thousands) September 11, 2015 September 12, 2014 Cash inflows: Total $ — $ — Cash outflows: Interest to investors (920) (1,013) Total (920) (1,013) Net Cash Flows $ (920) $ (1,013) Under the terms of our vacation ownership notes receivable securitizations, we have the right at our option to repurchase defaulted vacation ownership notes receivable at the outstanding principal balance. The transaction documents typically limit such repurchases to 15 to 20 percent of the transaction’s initial vacation ownership notes receivable principal balance. Our maximum exposure to loss relating to the special purpose entities that purchase, sell and own these vacation ownership notes receivable is the overcollateralization amount (the difference between the loan collateral balance and the balance on the outstanding vacation ownership notes receivable), plus cash reserves and any residual interest in future cash flows from collateral. In addition, we could be required to fund up to an aggregate of $10.0 million upon presentation of demand notes related to certain vacation ownerships notes receivable securitization transactions outstanding at September 11, 2015. Other Variable Interest Entities We have an equity investment in the Joint Venture, a variable interest entity that previously developed and marketed vacation ownership and residential products in Hawaii. We concluded that the Joint Venture is a variable interest entity because the equity investment at risk is not sufficient to permit it to finance its activities without additional support from other venture parties. We determined that we are not the primary beneficiary of the Joint Venture, as power to direct the activities that most significantly impact its economic performance is shared among the variable interest holders and, therefore, we do not consolidate the Joint Venture. In 2009, we fully impaired our equity investment in the Joint Venture and in certain notes receivable due from the Joint Venture and subsequently reduced the carrying value of our investment in those receivables to zero. Following the Joint Venture’s failure to pay promissory notes due in 2010 and 2011, the lenders initiated foreclosure proceedings with respect to unsold interests in the project. A sale was completed following a foreclosure auction, and on June 13, 2013, we received $7.4 million of cash as a partial repayment of our previously fully reserved receivables due from the Joint Venture. The Joint Venture’s obligations with respect to the remaining receivables have been terminated. At September 11, 2015, we had an accrual of $4.1 million for potential future funding obligations, representing our remaining expected exposure to loss related to our involvement with the Joint Venture exclusive of any future costs that may be incurred pursuant to outstanding litigation matters, including those discussed in Footnote No. 8, “Contingencies and Commitments.”

BUSINESS SEGMENTS

BUSINESS SEGMENTS	8 Months Ended
	Sep. 11, 2015
Segment Reporting [Abstract]
BUSINESS SEGMENTS	14. BUSINESS SEGMENTS We define our reportable segments based on the way in which the chief operating decision maker, currently our chief executive officer, manages the operations of the company for purposes of allocating resources and assessing performance. We operate in three reportable business segments: • In our North America segment, we develop, market, sell and manage vacation ownership and related products under the Marriott Vacation Club and Grand Residences by Marriott brands. We also develop, market and sell vacation ownership and related products under The Ritz-Carlton Destination Club brand, as well as whole ownership residential products under The Ritz-Carlton Residences brand. • In our Europe segment, we are focusing on selling our existing projects and managing existing resorts. We do not have any current plans for new development in this segment. • In our Asia Pacific segment, we develop, market, sell and manage the Marriott Vacation Club, Asia Pacific, a right-to-use points program that we specifically designed to appeal to the vacation preferences of the Asian market, as well as a weeks-based right-to-use product. We evaluate the performance of our segments based primarily on the results of the segment without allocating corporate expenses or income taxes. We do not allocate corporate interest expense, consumer financing interest expense, other financing expenses or general and administrative expenses to our segments. We include interest income specific to segment activities within the appropriate segment. We allocate other gains and losses and equity in earnings or losses from our joint ventures to each of our segments as appropriate. Corporate and other represents that portion of our revenues, equity in earnings or losses, and other gains or losses that are not allocable to our segments. Revenues Twelve Weeks Ended Thirty-Six Weeks Ended ($ in thousands) September 11, September 12, September 11, September 12, North America $ 362,440 $ 363,901 $ 1,138,857 $ 1,093,153 Europe 31,995 37,291 80,203 96,511 Asia Pacific 12,701 11,846 65,783 35,223 Total segment revenues 407,136 413,038 1,284,843 1,224,887 Corporate and other — — — — $ 407,136 $ 413,038 $ 1,284,843 $ 1,224,887 Net Income (Loss) Twelve Weeks Ended Thirty-Six Weeks Ended ($ in thousands) September 11, September 12, September 11, September 12, North America $ 85,337 $ 86,008 $ 287,676 $ 267,339 Europe 6,159 6,701 9,179 13,262 Asia Pacific (4,056) 1,030 5,332 4,015 Total segment financial results 87,440 93,739 302,187 284,616 Corporate and other (51,277) (50,229) (151,237) (151,388) Provision for income taxes (14,608) (17,862) (61,300) (52,969) $ 21,555 $ 25,648 $ 89,650 $ 80,259 Assets ($ in thousands) At September 11, 2015 At January 2, 2015 North America $ 1,887,189 $ 1,879,648 Europe 79,451 88,867 Asia Pacific 136,109 85,469 Total segment assets 2,102,749 2,053,984 Corporate and other 424,278 476,595 $ 2,527,027 $ 2,530,579

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	8 Months Ended
	Sep. 11, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	15. SUBSEQUENT EVENTS Share Repurchase Program Approval by the Board On October 12, 2015, our Board of Directors approved the repurchase of up to an additional 2,000,000 shares of our common stock under our existing share repurchase program and extended the termination date of the program to March 24, 2017. The specific timing, amount and other terms of the repurchases will depend on market conditions, corporate and regulatory requirements and other factors. Acquired shares of our common stock are held as treasury shares carried at cost in our Financial Statements. In connection with the repurchase program, we are authorized to adopt one or more trading plans pursuant to the provisions of Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.

SUMMARY OF SIGNIFICANT ACCOUN22

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	8 Months Ended
	Sep. 11, 2015
Accounting Policies [Abstract]
Business Operations	Our Business Marriott Vacations Worldwide Corporation (“Marriott Vacations Worldwide,” “we” or “us,” which includes our consolidated subsidiaries except where the context of the reference is to a single corporate entity) is the exclusive worldwide developer, marketer, seller and manager of vacation ownership and related products under the Marriott Vacation Club and Grand Residences by Marriott brands. We are also the exclusive worldwide developer, marketer and seller of vacation ownership and related products under The Ritz-Carlton Destination Club brand, and we have the non-exclusive right to develop, market and sell whole ownership residential products under The Ritz-Carlton Residences brand. The Ritz-Carlton Hotel Company, L.L.C. (“The Ritz-Carlton Hotel Company”), a subsidiary of Marriott International, Inc. (“Marriott International”), generally provides on-site management for Ritz-Carlton branded properties. Our business is grouped into three reportable segments: North America, Europe and Asia Pacific. As of September 11, 2015, our portfolio consisted of 61 properties, including two hotels, in the United States and eight other countries and territories. We generate most of our revenues from four primary sources: selling vacation ownership products; managing our resorts; financing consumer purchases; and renting vacation ownership inventory.
Our Spin-Off from Marriott International, Inc.	Our Spin-Off from Marriott International, Inc. On November 21, 2011, the spin-off of Marriott Vacations Worldwide from Marriott International (the “Spin-Off”) was completed. In connection with the Spin-Off, we entered into several agreements that govern the ongoing relationship between Marriott Vacations Worldwide and Marriott International.
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The interim consolidated financial statements presented herein and discussed below include 100 percent of the assets, liabilities, revenues, expenses and cash flows of Marriott Vacations Worldwide, all entities in which Marriott Vacations Worldwide has a controlling voting interest (“subsidiaries”), and those variable interest entities for which Marriott Vacations Worldwide is the primary beneficiary in accordance with consolidation accounting guidance. Intercompany accounts and transactions between consolidated companies have been eliminated in consolidation. The interim consolidated financial statements reflect our financial position, results of operations and cash flows as prepared in conformity with United States Generally Accepted Accounting Principles (“GAAP”). In order to make this report easier to read, we refer throughout to (i) our Interim Consolidated Financial Statements as our “Financial Statements,” (ii) our Interim Consolidated Statements of Income as our “Statements of Income,” (iii) our Interim Consolidated Balance Sheets as our “Balance Sheets,” and (iv) our Interim Consolidated Statements of Cash Flows as our “Cash Flows.” In addition, references throughout to numbered “Footnotes” refer to the numbered Notes in these Notes to Interim Consolidated Financial Statements, unless otherwise noted. Unless otherwise specified, each reference to a particular quarter in these Financial Statements means the twelve weeks ended on the date shown in the following table, rather than the corresponding calendar quarter: Fiscal Year Quarter-End Date 2015 Third Quarter September 11, 2015 2015 Second Quarter June 19, 2015 2015 First Quarter March 27, 2015 2014 Third Quarter September 12, 2014 2014 Second Quarter June 20, 2014 2014 First Quarter March 28, 2014 In our opinion, our Financial Statements reflect all normal and recurring adjustments necessary to present fairly our financial position and the results of our operations and cash flows for the periods presented. Interim results may not be indicative of fiscal year performance because of, among other reasons, seasonal and short-term variations. These Financial Statements have not been audited. Amounts as of January 2, 2015 included in these Financial Statements have been derived from the audited consolidated financial statements as of that date. We have condensed or omitted certain information and footnote disclosures normally included in financial statements presented in accordance with GAAP. Although we believe our footnote disclosures are adequate to make the information presented not misleading, you should read these Financial Statements in conjunction with the consolidated financial statements and notes to those consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended January 2, 2015. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Such estimates include, but are not limited to, revenue recognition, cost of vacation ownership products, inventory valuation, property and equipment valuation, loan loss reserves, Marriott Rewards customer loyalty program liability, self-insured medical plan reserves, equity-based compensation, income taxes and loss contingencies. Accordingly, actual amounts may differ from these estimated amounts. We have reclassified certain prior year amounts to conform to our current period presentation.
New Accounting Standards	New Accounting Standards Accounting Standards Update No. 2015-16 – “ Simplifying the Accounting for Measurement-Period Adjustments (Topic 805): Business Combinations In September 2015, the Financial Accounting Standards Board (“FASB”) issued ASU 2015-16, which replaces the requirement that an acquirer in a business combination account for measurement period adjustments retrospectively with a requirement that an acquirer recognize adjustments to the provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. ASU 2015-16 requires that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. For public business entities, ASU 2015-16 is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The guidance is to be applied prospectively to adjustments to provisional amounts that occur after the effective date of the guidance, with earlier application permitted for financial statements that have not been issued. Our early adoption of ASU 2015-16 in the third quarter of 2015 did not have a material impact on our Financial Statements. Accounting Standards Update No. 2015-11 – “ Simplifying the Measurement of Inventory (Topic 330): Inventory In July 2015, the FASB issued ASU 2015-11, which requires an entity to measure inventory at the lower of cost or net realizable value, which consists of the estimated selling prices in the ordinary course of business, less reasonably predictable cost of completion, disposal, and transportation. For public entities, the updated guidance is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The guidance is to be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. Our early adoption of ASU 2015-11 in the third quarter of 2015 did not have a material impact on our Financial Statements as it applies solely to our operating inventories. This guidance is not applicable to our vacation ownership inventory. Accounting Standards Update No. 2015-03 – “ Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs In April 2015, the FASB issued ASU 2015-03, which requires debt issuance costs related to a debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability instead of being presented as an asset. The recognition and measurement guidance for debt issuance costs has not changed. ASU 2015-03 requires retrospective application and represents a change in accounting principle. ASU 2015-03 is effective for fiscal years beginning after December 15, 2015 and early adoption is permitted for financial statements that have not been previously issued. Our early adoption of ASU 2015-03 in the first quarter of 2015 did not have a material impact on our Financial Statements. In June 2015, the staff of the Securities and Exchange Commission (“SEC”) announced that it would not object to an entity always presenting debt issuance costs related to revolving debt arrangements as an asset, regardless of whether a balance was outstanding, while amortizing the costs ratably over the term of the revolving debt arrangement. As a result, we applied the SEC staff guidance beginning in the second quarter of 2015 and began presenting costs associated with our revolving debt arrangements as an asset. We have applied these changes retrospectively to all periods presented. Accounting Standards Update No. 2015-02 – “ Consolidation (Topic 810): Amendments to the Consolidation Analysis In February 2015, the FASB issued ASU 2015-02, which amends the guidance for evaluating whether to consolidate certain legal entities. Specifically, ASU 2015-02 modifies the method for determining whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities. Further, it eliminates the presumption that a general partner should consolidate a limited partnership and impacts the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships. The updated guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted. Our early adoption of ASU 2015-02 in the first quarter of 2015 did not have a material impact on our Financial Statements.
Future Adoption of Accounting Standards	Future Adoption of Accounting Standards Accounting Standards Update No. 2014-09 – “ Revenue from Contracts with Customers (Topic 606) In May 2014, the FASB issued ASU 2014-09. ASU 2014-09 supersedes the revenue recognition requirements in Topic 605, Revenue Recognition

SUMMARY OF SIGNIFICANT ACCOUN23

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	8 Months Ended
	Sep. 11, 2015
Accounting Policies [Abstract]
Each Reference to Particular Year in These Financial Statements Means Fiscal Year Ended on Date Shown	Unless otherwise specified, each reference to a particular quarter in these Financial Statements means the twelve weeks ended on the date shown in the following table, rather than the corresponding calendar quarter: Fiscal Year Quarter-End Date 2015 Third Quarter September 11, 2015 2015 Second Quarter June 19, 2015 2015 First Quarter March 27, 2015 2014 Third Quarter September 12, 2014 2014 Second Quarter June 20, 2014 2014 First Quarter March 28, 2014

VACATION OWNERSHIP NOTES RECE24

VACATION OWNERSHIP NOTES RECEIVABLE (Tables)	8 Months Ended
	Sep. 11, 2015
Composition of Vacation Ownership Notes Receivable Balances, Net of Reserves	The following table shows the composition of our vacation ownership notes receivable balances, net of reserves: ($ in thousands) September 11, 2015 January 2, 2015 Vacation ownership notes receivable — securitized $ 704,349 $ 750,680 Vacation ownership notes receivable — non-securitized Eligible for securitization (1)(2) 34,426 24,194 Not eligible for securitization (1) 148,681 142,354 Subtotal 183,107 166,548 Total vacation ownership notes receivable $ 887,456 $ 917,228 (1) Refer to Footnote No. 4, “Financial Instruments,” for discussion of eligibility of our vacation ownership notes receivable. (2) We expect that these vacation ownership notes receivable will be purchased by the MVW Owner Trust 2015-1 (the “2015-1 Trust”) prior to December 31, 2015 in accordance with the terms of the securitization transaction completed in the third quarter of 2015. Refer to Footnote No. 9, “Debt,” for discussion of the terms of this securitization transaction and the purchase of additional vacation ownership notes receivable by the 2015-1 Trust.
Future Principal Payments, Net of Reserves, and Interest Rates of Vacation Ownership Notes Receivable	The following tables show future principal payments, net of reserves, as well as interest rates for our non-securitized and securitized vacation ownership notes receivable at September 11, 2015: ($ in thousands) Non-Securitized Securitized Total 2015 $ 25,581 $ 34,374 $ 59,955 2016 34,509 102,199 136,708 2017 25,737 97,524 123,261 2018 18,140 85,683 103,823 2019 13,851 77,450 91,301 Thereafter 65,289 307,119 372,408 Balance at September 11, 2015 $ 183,107 $ 704,349 $ 887,456 Weighted average stated interest rate 11.7% 12.8% 12.5% Range of stated interest rates 0.0% to 19.5% 4.9% to 19.5% 0.0% to 19.5%
Interest Income Associated with Vacation Ownership Notes Receivable	The following table summarizes interest income associated with vacation ownership notes receivable: Twelve Weeks Ended Thirty-Six Weeks Ended ($ in thousands) September 11, September 12, September 11, September 12, Interest income associated with vacation ownership notes receivable — securitized $ 20,005 $ 18,930 $ 59,992 $ 60,259 Interest income associated with vacation ownership notes receivable — non-securitized 6,921 9,146 21,428 25,282 Total interest income associated with vacation ownership notes receivable $ 26,926 $ 28,076 $ 81,420 $ 85,541
Recorded Investment in Non-accrual Notes Receivable that are 90 Days or More Past Due	The following table shows our recorded investment in non-accrual vacation ownership notes receivable, which are vacation ownership notes receivable that are 90 days or more past due: ($ in thousands) Non-Securitized Securitized Total Investment in vacation ownership notes receivable on non-accrual status at September 11, 2015 $ 52,520 $ 5,967 $ 58,487 Investment in vacation ownership notes receivable on non-accrual status at January 2, 2015 $ 60,275 $ 7,172 $ 67,447 Average investment in vacation ownership notes receivable on non-accrual status during the twelve weeks ended September 11, 2015 $ 53,778 $ 6,879 $ 60,657 Average investment in vacation ownership notes receivable on non-accrual status during the twelve weeks ended September 12, 2014 $ 64,576 $ 7,027 $ 71,603 Average investment in vacation ownership notes receivable on non-accrual status during the thirty-six weeks ended September 11, 2015 $ 56,397 $ 6,570 $ 62,967 Average investment in vacation ownership notes receivable on non-accrual status during the thirty-six weeks ended September 12, 2014 $ 65,857 $ 7,022 $ 72,879
Aging of Recorded Investment in Principal, Before Reserves, in Vacation Ownership Notes Receivable	The following table shows the aging of the recorded investment in principal, before reserves, in vacation ownership notes receivable as of September 11, 2015: ($ in thousands) Non-Securitized Securitized Total 31 – 90 days past due $ 7,444 $ 15,482 $ 22,926 91 – 150 days past due 5,103 5,351 10,454 Greater than 150 days past due 47,417 616 48,033 Total past due 59,964 21,449 81,413 Current 181,162 733,074 914,236 Total vacation ownership notes receivable $ 241,126 $ 754,523 $ 995,649 The following table shows the aging of the recorded investment in principal, before reserves, in vacation ownership notes receivable as of January 2, 2015: ($ in thousands) Non-Securitized Securitized Total 31 – 90 days past due $ 8,330 $ 22,544 $ 30,874 91 – 150 days past due 6,101 7,003 13,104 Greater than 150 days past due 54,174 169 54,343 Total past due 68,605 29,716 98,321 Current 162,695 774,630 937,325 Total vacation ownership notes receivable $ 231,300 $ 804,346 $ 1,035,646
Vacation Ownership
Notes Receivable Reserves	The following table summarizes the activity related to our vacation ownership notes receivable reserve for the thirty-six weeks ended September 11, 2015: ($ in thousands) Non-Securitized Securitized Total Balance at January 2, 2015 $ 64,752 $ 53,666 $ 118,418 Provision for loan losses 15,068 7,413 22,481 Securitizations (12,622) 12,622 — Clean-up calls (1) 5,725 (5,725) — Write-offs (32,706) — (32,706) Defaulted vacation ownership notes receivable repurchase activity (2) 17,802 (17,802) — Balance at September 11, 2015 $ 58,019 $ 50,174 $ 108,193 (1) Refers to our voluntary repurchase of previously securitized non-defaulted vacation ownership notes receivable to retire outstanding vacation ownership notes receivable securitizations. (2) Decrease in securitized vacation ownership notes receivable reserve and increase in non-securitized vacation ownership notes receivable reserve was attributable to the transfer of the reserve when we voluntarily repurchased the securitized vacation ownership notes receivable.

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	8 Months Ended
	Sep. 11, 2015
Carrying Values and Estimated Fair Values of Financial Assets and Liabilities	The following table shows the carrying values and the estimated fair values of financial assets and liabilities that qualify as financial instruments, determined in accordance with the authoritative guidance for disclosures regarding the fair value of financial instruments. Considerable judgment is required in interpreting market data to develop estimates of fair value. The use of different market assumptions and/or estimation methodologies could have a material effect on the estimated fair value amounts. The table excludes Cash and cash equivalents, Restricted cash, Accounts and contracts receivable, Accounts payable, Advance deposits and Accrued liabilities, all of which had fair values approximating their carrying amounts due to the short maturities and liquidity of these instruments. At September 11, 2015 At January 2, 2015 ($ in thousands) Carrying Amount Fair Value (1) Carrying Amount Fair Value (1) Vacation ownership notes receivable Securitized $ 704,349 $ 861,004 $ 750,680 $ 909,391 Non-securitized 183,107 191,387 166,548 172,103 Derivative instruments 1,068 1,068 — — Total financial assets $ 888,524 $ 1,053,459 $ 917,228 $ 1,081,494 Non-recourse debt associated with vacation ownership notes receivable securitizations, gross $ (776,648) $ (780,427) $ (708,031) $ (712,977) Other debt, gross (3,519) (3,519) (3,306) (3,306) Mandatorily redeemable preferred stock of consolidated subsidiary, gross (40,000) (42,562) (40,000) (43,837) Liability for Marriott Rewards customer loyalty program (73,904) (66,605) (89,285) (80,448) Other liabilities (4,205) (4,205) (4,118) (4,118) Total financial liabilities $ (898,276) $ (897,318) $ (844,740) $ (844,686) (1) Fair value of financial instruments, with the exception of derivative instruments, has been determined using Level 3 inputs. Fair value of derivative instruments has been determined using Level 2 inputs.
Non-Securitized Vacation Ownership Notes Receivable
Carrying Values and Estimated Fair Values of Financial Assets and Liabilities	The following table shows the bifurcation of our non-securitized vacation ownership notes receivable into those eligible and not eligible for securitization based upon the aforementioned eligibility criteria: At September 11, 2015 At January 2, 2015 ($ in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Vacation ownership notes receivable Eligible for securitization (1) $ 34,426 $ 42,706 $ 24,194 $ 29,749 Not eligible for securitization 148,681 148,681 142,354 142,354 Total non-securitized $ 183,107 $ 191,387 $ 166,548 $ 172,103 (1) We expect that these vacation ownership notes receivable will be purchased by the 2015-1 Trust prior to December 31, 2015 in accordance with the terms of the securitization transaction completed in the third quarter of 2015. Refer to Footnote No. 9, “Debt,” for discussion of the terms of this securitization transaction and the purchase of additional vacation ownership notes receivable by the 2015-1 Trust.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	8 Months Ended
	Sep. 11, 2015
Earnings Per Share [Abstract]
Reconciliation of Earnings and Number of Shares Used in Calculation of Basic and Diluted Earnings Per Share	The table below illustrates the reconciliation of the earnings and number of shares used in our calculation of basic and diluted earnings per share. Twelve Weeks Ended Thirty-Six Weeks Ended (in thousands, except per share amounts) September 11, (1) September 12, (2) September 11, (1) September 12, (2) Computation of Basic Earnings Per Share Net income $ 21,555 $ 25,648 $ 89,650 $ 80,259 Weighted average shares outstanding 31,455 33,374 31,870 34,180 Basic earnings per share $ 0.69 $ 0.77 $ 2.81 $ 2.35 Computation of Diluted Earnings Per Share Net income $ 21,555 $ 25,648 $ 89,650 $ 80,259 Weighted average shares outstanding 31,455 33,374 31,870 34,180 Effect of dilutive shares outstanding Employee stock options and SARs 443 537 458 559 Restricted stock units 230 455 222 422 Shares for diluted earnings per share 32,128 34,366 32,550 35,161 Diluted earnings per share $ 0.67 $ 0.75 $ 2.75 $ 2.28 (1) The computations of diluted earnings per share exclude approximately 167,000 shares of common stock, the maximum number of shares issuable as of September 11, 2015 upon the vesting of certain performance-based awards, because the performance conditions required for the shares subject to such awards to vest were not achieved by the end of the reporting period. (2) The computations of diluted earnings per share exclude approximately 179,000 shares of common stock, the maximum number of shares issuable as of September 12, 2014 upon the vesting of certain performance-based awards, because the performance conditions required for the shares subject to such awards to vest were not achieved by the end of the reporting period.

INVENTORY (Tables)

INVENTORY (Tables)	8 Months Ended
	Sep. 11, 2015
Inventory Disclosure [Abstract]
Composition of Inventory	The following table shows the composition of our inventory balances: ($ in thousands) At September 11, 2015 At January 2, 2015 Finished goods (1) $ 351,850 $ 413,066 Land and infrastructure (2) 364,128 355,198 Real estate inventory 715,978 768,264 Operating supplies and retail inventory 5,686 4,520 $ 721,664 $ 772,784 (1) Represents completed inventory that is either registered for sale as vacation ownership interests, or unregistered and available for sale in its current form. (2) Includes $48.4 million of sales centers that are expected to be converted into vacation ownership products to be sold in the future and $80.7 million of inventory related to estimated future foreclosures at September 11, 2015.

CONTINGENCIES AND COMMITMENTS (

CONTINGENCIES AND COMMITMENTS (Tables)	8 Months Ended
	Sep. 11, 2015
Commitments and Contingencies Disclosure [Abstract]
Maximum Potential Amount of Future Fundings for Financing Guarantees and Carrying Amount of Liability for Expected Future Fundings	The following table shows the maximum potential amount of future fundings for financing guarantees where we are the primary obligor and the carrying amount of the liability for expected future fundings, which is included on our Balance Sheet in the Other caption within Liabilities. ($ in thousands) Maximum Potential Liability for Expected Future Fundings Segment Asia Pacific $ 5,822 $ 59 North America 2,846 177 Total guarantees where we are the primary obligor $ 8,668 $ 236

DEBT (Tables)

DEBT (Tables)	8 Months Ended
	Sep. 11, 2015
Debt Disclosure [Abstract]
Debt Balances, Net of Unamortized Debt Issuance Costs	The following table provides detail on our debt balances, net of unamortized debt issuance costs: ($ in thousands) At September 11, 2015 At January 2, 2015 Vacation ownership notes receivable securitizations, gross (1) $ 776,648 $ 708,031 Unamortized debt issuance costs (10,187) (8,090) 766,461 699,941 Other debt, gross 3,519 3,306 Unamortized debt issuance costs (264) (234) 3,255 3,072 $ 769,716 $ 703,013 (1) Interest rates as of September 11, 2015 range from 2.2% to 7.2% with a weighted average interest rate of 2.8%.
Scheduled Future Principal Payments for Debt	The following table shows scheduled future principal payments for our debt: ($ in thousands) Vacation Ownership (1) Other Total Debt Principal Payments Year 2015 $ 35,357 $ 29 $ 35,386 2016 111,848 60 111,908 2017 106,587 64 106,651 2018 93,068 69 93,137 2019 81,671 74 81,745 Thereafter 348,117 3,223 351,340 Balance at September 11, 2015 $ 776,648 $ 3,519 $ 780,167 (1) The debt associated with our vacation ownership notes receivable securitizations is non-recourse to us and represents estimated principal payments assuming purchase of the remaining vacation ownership notes receivable by the 2015-1 Trust in the fourth quarter of 2015 as discussed above.

MANDATORILY REDEEMABLE PREFER30

MANDATORILY REDEEMABLE PREFERRED STOCK OF CONSOLIDATED SUBSIDIARY (Tables)	8 Months Ended
	Sep. 11, 2015
Text Block [Abstract]
Mandatorily Redeemable Preferred Stock, Net of Unamortized Debt Issuance Costs	The following table provides detail on our mandatorily redeemable preferred stock of consolidated subsidiary balance, net of unamortized debt issuance costs: ($ in thousands) At September 11, 2015 At January 2, 2015 Mandatorily redeemable preferred stock of consolidated subsidiary, gross $ 40,000 $ 40,000 Unamortized debt issuance costs (1,065) (1,184) $ 38,935 $ 38,816

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	8 Months Ended
	Sep. 11, 2015
Equity [Abstract]
Changes in Shareholders' Equity	The following table details changes in shareholders’ equity during the thirty-six weeks ended September 11, 2015: ($ in thousands) Common Stock Treasury Stock Additional Paid-In Capital Accumulated Retained Earnings Total Equity Balance at January 2, 2015 $ 361 $ (229,229) $ 1,137,785 $ 17,054 $ 153,732 $ 1,079,703 Net income — — — — 89,650 89,650 Foreign currency translation adjustments — — — (3,749) — (3,749) Amounts related to share-based compensation 2 — 341 — — 343 Adjustment to reclassification of Marriott International investment to Additional paid-in capital — — (77) — — (77) Repurchase of common stock — (106,110) — — — (106,110) Dividends — — — — (23,789) (23,789) Balance at September 11, 2015 $ 363 $ (335,339) $ 1,138,049 $ 13,305 $ 219,593 $ 1,035,971
Stock Repurchase Activity under Current Stock Repurchase Program	The following table summarizes share repurchase activity under our current share repurchase program: ($ in thousands, except per share amounts) Number of Cost of Average As of January 2, 2015 3,996,725 $ 229,229 $ 57.35 For the thirty-six weeks ended September 11, 2015 1,297,338 106,110 81.79 As of September 11, 2015 5,294,063 $ 335,339 $ 63.34

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	8 Months Ended
	Sep. 11, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Assumptions Used to Estimate Fair Value of Grants	The following table outlines the assumptions used to estimate the fair value of grants during the thirty-six weeks ended September 11, 2015: Expected volatility 42.74 % Dividend yield 1.26 % Risk-free rate 1.74 % Expected term (in years) 6.25

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	8 Months Ended
	Sep. 11, 2015
Vacation Ownership Notes Receivable Securitizations
Cash Flows Between Company and Variable Interest Entities	The following table shows cash flows between us and the vacation ownership notes receivable securitization variable interest entities during the thirty-six weeks ended September 11, 2015 and September 12, 2014: Thirty-Six Weeks Ended ($ in thousands) September 11, 2015 September 12, 2014 Cash inflows: Net proceeds from vacation ownership notes receivable securitizations $ 252,361 $ 22,638 Principal receipts 127,571 124,575 Interest receipts 62,324 61,549 Reserve release 2,478 1,608 Total 444,734 210,370 Cash outflows: Principal to investors (114,561) (117,351) Voluntary repurchases of defaulted vacation ownership notes receivable (17,802) (18,289) Voluntary clean-up call (54,020) (26,722) Interest to investors (12,160) (14,104) Funding of restricted cash (1) (52,756) — Total (251,299) (176,466) Net Cash Flows $ 193,435 $ 33,904 (1) Includes $51.4 million of the proceeds from the securitization transaction completed during the third quarter of 2015, which will be released as the remaining vacation ownership notes receivable are purchased by the 2015-1 Trust. Refer to Footnote No. 9, “Debt,” for discussion of the terms of this securitization transaction and the purchase of additional vacation ownership notes receivable by the 2015-1 Trust.
Warehouse Credit Facility
Cash Flows Between Company and Variable Interest Entities	The following table shows cash flows between us and the Warehouse Credit Facility variable interest entity during the thirty-six weeks ended September 11, 2015 and September 12, 2014: Thirty-Six Weeks Ended ($ in thousands) September 11, 2015 September 12, 2014 Cash inflows: Total $ — $ — Cash outflows: Interest to investors (920) (1,013) Total (920) (1,013) Net Cash Flows $ (920) $ (1,013)
Balance Sheet
Classifications of Consolidated Variable Interest Entities	The following table shows consolidated assets, which are collateral for the obligations of these variable interest entities, and consolidated liabilities included on our Balance Sheet at September 11, 2015: ($ in thousands) Vacation Ownership Warehouse Credit Total Consolidated Assets: Vacation ownership notes receivable, net of reserves $ 704,349 $ — $ 704,349 Interest receivable 4,211 — 4,211 Restricted cash (1) 93,803 — 93,803 Total $ 802,363 $ — $ 802,363 Consolidated Liabilities: Interest payable $ 1,547 $ 88 $ 1,635 Debt 776,648 — 776,648 Total $ 778,195 $ 88 $ 778,283 (1) Includes $51.4 million of the proceeds from the securitization transaction completed during the third quarter of 2015, which will be released as the remaining vacation ownership notes receivable are purchased by the 2015-1 Trust. Refer to Footnote No. 9, “Debt,” for discussion of the terms of this securitization transaction and the purchase of additional vacation ownership notes receivable by the 2015-1 Trust.
Income Statement
Classifications of Consolidated Variable Interest Entities	The following table shows the interest income and expense recognized as a result of our involvement with these variable interest entities during the twelve weeks ended September 11, 2015: ($ in thousands) Vacation Ownership Warehouse Credit Facility Total Interest income $ 20,005 $ — $ 20,005 Interest expense to investors $ 4,003 $ 321 $ 4,324 Debt issuance cost amortization $ 688 $ 277 $ 965 Administrative expenses $ 64 $ 37 $ 101 The following table shows the interest income and expense recognized as a result of our involvement with these variable interest entities during the thirty-six weeks ended September 11, 2015: ($ in thousands) Vacation Ownership Warehouse Credit Facility Total Interest income $ 59,992 $ — $ 59,992 Interest expense to investors $ 12,659 $ 955 $ 13,614 Debt issuance cost amortization $ 2,102 $ 842 $ 2,944 Administrative expenses $ 216 $ 104 $ 320

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	8 Months Ended
	Sep. 11, 2015
Segment Reporting [Abstract]
Revenues	Revenues Twelve Weeks Ended Thirty-Six Weeks Ended ($ in thousands) September 11, September 12, September 11, September 12, North America $ 362,440 $ 363,901 $ 1,138,857 $ 1,093,153 Europe 31,995 37,291 80,203 96,511 Asia Pacific 12,701 11,846 65,783 35,223 Total segment revenues 407,136 413,038 1,284,843 1,224,887 Corporate and other — — — — $ 407,136 $ 413,038 $ 1,284,843 $ 1,224,887
Net Income (Loss)	Net Income (Loss) Twelve Weeks Ended Thirty-Six Weeks Ended ($ in thousands) September 11, September 12, September 11, September 12, North America $ 85,337 $ 86,008 $ 287,676 $ 267,339 Europe 6,159 6,701 9,179 13,262 Asia Pacific (4,056) 1,030 5,332 4,015 Total segment financial results 87,440 93,739 302,187 284,616 Corporate and other (51,277) (50,229) (151,237) (151,388) Provision for income taxes (14,608) (17,862) (61,300) (52,969) $ 21,555 $ 25,648 $ 89,650 $ 80,259
Assets	Assets ($ in thousands) At September 11, 2015 At January 2, 2015 North America $ 1,887,189 $ 1,879,648 Europe 79,451 88,867 Asia Pacific 136,109 85,469 Total segment assets 2,102,749 2,053,984 Corporate and other 424,278 476,595 $ 2,527,027 $ 2,530,579

Summary of Significant Accoun35

Summary of Significant Accounting Policies - Additional Information (Detail)	8 Months Ended
	Sep. 11, 2015PropertyLocationSegmentLine
Significant Accounting Policies [Line Items]
Number of business segments | Segment	3
Number of properties	61
Number of primary sources of revenues generated | Line	4
Percent of the assets, liabilities, revenues, expenses and cash flows discussed	100.00%
UNITED STATES
Significant Accounting Policies [Line Items]
Number of hotel properties	2
Operations located outside the United States
Significant Accounting Policies [Line Items]
Number of countries and territories in which company operates | Location	8

Each Reference to Particular Ye

Each Reference to Particular Year in Financial Statements Means Fiscal Year Ended on Date Shown (Detail)	3 Months Ended
	Sep. 11, 2015	Jun. 19, 2015	Mar. 27, 2015	Sep. 12, 2014	Jun. 20, 2014	Mar. 28, 2014
Accounting Policies [Abstract]
Quarter-End Date	Sep. 11, 2015	Jun. 19, 2015	Mar. 27, 2015	Sep. 12, 2014	Jun. 20, 2014	Mar. 28, 2014

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	8 Months Ended
	Sep. 11, 2015	Jan. 02, 2015
Income Tax Disclosure [Abstract]
Unrecognized tax benefits that, if recognized, would impact the effective tax rate	$ 1.5	$ 1.3
Income Tax Examination Description	We have joined in the Marriott International U.S. federal tax consolidated filing for periods up to the date of the Spin-Off. The U.S. Internal Revenue Service (the "IRS") has examined Marriott International's federal income tax returns, and it has settled all issues related to the timeshare business for the tax years through the Spin-Off.

Composition of Vacation Ownersh

Composition of Vacation Ownership Notes Receivable Balances, Net of Reserves (Detail) - USD ($) $ in Thousands		Sep. 11, 2015	Jan. 02, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Vacation ownership notes receivable		$ 887,456	$ 917,228
Securitized Vacation Ownership Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Vacation ownership notes receivable		704,349	750,680
Eligible for Securitization
Accounts, Notes, Loans and Financing Receivable [Line Items]
Vacation ownership notes receivable	[1],[2]	34,426	24,194
Not Eligible for Securitization
Accounts, Notes, Loans and Financing Receivable [Line Items]
Vacation ownership notes receivable	[1]	148,681	142,354
Non-Securitized Vacation Ownership Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Vacation ownership notes receivable		$ 183,107	$ 166,548
[1]	Refer to Footnote No. 4, "Financial Instruments," for discussion of eligibility of our vacation ownership notes receivable.
[2]	We expect that these vacation ownership notes receivable will be purchased by the MVW Owner Trust 2015-1 (the "2015-1 Trust") prior to December 31, 2015 in accordance with the terms of the securitization transaction completed in the third quarter of 2015. Refer to Footnote No. 9, "Debt," for discussion of the terms of this securitization transaction and the purchase of additional vacation ownership notes receivable by the 2015-1 Trust.

Future Principal Payments, Net

Future Principal Payments, Net of Reserves, and Interest Rates of Vacation Ownership Notes Receivable (Detail) $ in Thousands	Sep. 11, 2015USD ($)
Future Minimum Payments Receivable [Line Items]
2,015	$ 59,955
2,016	136,708
2,017	123,261
2,018	103,823
2,019	91,301
Thereafter	372,408
Notes receivable	$ 887,456
Weighted average stated interest rate	12.50%
Range of stated interest rates, minimum	0.00%
Range of stated interest rates, maximum	19.50%
Non-Securitized Vacation Ownership Notes Receivable
Future Minimum Payments Receivable [Line Items]
2,015	$ 25,581
2,016	34,509
2,017	25,737
2,018	18,140
2,019	13,851
Thereafter	65,289
Notes receivable	$ 183,107
Weighted average stated interest rate	11.70%
Range of stated interest rates, minimum	0.00%
Range of stated interest rates, maximum	19.50%
Securitized Vacation Ownership Notes Receivable
Future Minimum Payments Receivable [Line Items]
2,015	$ 34,374
2,016	102,199
2,017	97,524
2,018	85,683
2,019	77,450
Thereafter	307,119
Notes receivable	$ 704,349
Weighted average stated interest rate	12.80%
Range of stated interest rates, minimum	4.90%
Range of stated interest rates, maximum	19.50%

Interest Income Associated With

Interest Income Associated With Vacation Ownership Notes Receivable (Detail) - USD ($) $ in Thousands	3 Months Ended		8 Months Ended
	Sep. 11, 2015	Sep. 12, 2014	Sep. 11, 2015	Sep. 12, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income associated with vacation ownership notes receivable	$ 26,926	$ 28,076	$ 81,420	$ 85,541
Securitized Vacation Ownership Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income associated with vacation ownership notes receivable	20,005	18,930	59,992	60,259
Non-Securitized Vacation Ownership Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income associated with vacation ownership notes receivable	$ 6,921	$ 9,146	$ 21,428	$ 25,282

Notes Receivable Reserves (Deta

Notes Receivable Reserves (Detail) $ in Thousands	8 Months Ended
	Sep. 11, 2015USD ($)
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	$ 118,418
Provision for loan losses	22,481
Write-offs	(32,706)
Ending Balance	108,193
Non-Securitized Vacation Ownership Notes Receivable
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	64,752
Provision for loan losses	15,068
Securitizations	(12,622)
Clean-up calls	5,725	[1]
Write-offs	(32,706)
Defaulted vacation ownership notes receivable repurchase activity	17,802	[2]
Ending Balance	58,019
Securitized Vacation Ownership Notes Receivable
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	53,666
Provision for loan losses	7,413
Securitizations	12,622
Clean-up calls	(5,725)	[1]
Defaulted vacation ownership notes receivable repurchase activity	(17,802)	[2]
Ending Balance	$ 50,174
[1]	Refers to our voluntary repurchase of previously securitized non-defaulted vacation ownership notes receivable to retire outstanding vacation ownership notes receivable securitizations.
[2]	Decrease in securitized vacation ownership notes receivable reserve and increase in non-securitized vacation ownership notes receivable reserve was attributable to the transfer of the reserve when we voluntarily repurchased the securitized vacation ownership notes receivable.

Vacation Ownership Notes Rece42

Vacation Ownership Notes Receivable - Additional Information (Detail) - USD ($) $ in Millions	8 Months Ended	12 Months Ended
	Sep. 11, 2015	Jan. 02, 2015
Receivables [Abstract]
Notes receivable estimated average remaining default rates	6.83%	6.95%
Estimated default rate increases that would have resulted an increase in allowance for credit losses	0.50%
Allowance for credit losses that would have been increased	$ 4.5	$ 4.7

Recorded Investment in Non-accr

Recorded Investment in Non-accrual Notes Receivable that are Ninety Days or More Past Due (Detail) - USD ($) $ in Thousands	3 Months Ended		8 Months Ended
	Sep. 11, 2015	Sep. 12, 2014	Sep. 11, 2015	Sep. 12, 2014	Jan. 02, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
Investment in notes receivable on non-accrual status	$ 58,487		$ 58,487		$ 67,447
Average investment in notes receivable on non-accrual status	60,657	$ 71,603	62,967	$ 72,879
Non-Securitized Vacation Ownership Notes Receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Investment in notes receivable on non-accrual status	52,520		52,520		60,275
Average investment in notes receivable on non-accrual status	53,778	64,576	56,397	65,857
Securitized Vacation Ownership Notes Receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Investment in notes receivable on non-accrual status	5,967		5,967		$ 7,172
Average investment in notes receivable on non-accrual status	$ 6,879	$ 7,027	$ 6,570	$ 7,022

Aging of Recorded Investment in

Aging of Recorded Investment in Principal, Before Reserves, in Vacation Ownership Notes Receivable (Detail) - USD ($) $ in Thousands	Sep. 11, 2015	Jan. 02, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
31 - 90 days past due	$ 22,926	$ 30,874
91 - 150 days past due	10,454	13,104
Greater than 150 days past due	48,033	54,343
Total past due	81,413	98,321
Current	914,236	937,325
Total vacation ownership notes receivable	995,649	1,035,646
Non-Securitized Vacation Ownership Notes Receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
31 - 90 days past due	7,444	8,330
91 - 150 days past due	5,103	6,101
Greater than 150 days past due	47,417	54,174
Total past due	59,964	68,605
Current	181,162	162,695
Total vacation ownership notes receivable	241,126	231,300
Securitized Vacation Ownership Notes Receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
31 - 90 days past due	15,482	22,544
91 - 150 days past due	5,351	7,003
Greater than 150 days past due	616	169
Total past due	21,449	29,716
Current	733,074	774,630
Total vacation ownership notes receivable	$ 754,523	$ 804,346

Carrying Values and Estimated F

Carrying Values and Estimated Fair Values of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands		Sep. 11, 2015	Jan. 02, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable		$ 887,456	$ 917,228
Debt, gross		(780,167)
Mandatorily redeemable preferred stock of consolidated subsidiary, gross		(40,000)	(40,000)
Liability for Marriott Rewards customer loyalty program		(73,904)	(89,285)
Other liabilities		(38,239)	(27,071)
Non-Recourse Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, gross	[1]	(776,648)
Other Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, gross		(3,519)
Securitized Vacation Ownership Notes Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable		704,349	750,680
Non-Securitized Vacation Ownership Notes Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable		183,107	166,548
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative instruments		1,068
Total financial assets		888,524	917,228
Mandatorily redeemable preferred stock of consolidated subsidiary, gross		(40,000)	(40,000)
Liability for Marriott Rewards customer loyalty program		(73,904)	(89,285)
Other liabilities		(4,205)	(4,118)
Total financial liabilities		(898,276)	(844,740)
Carrying Amount | Non-Recourse Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, gross	[2]	(776,648)	(708,031)
Carrying Amount | Other Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, gross		(3,519)	(3,306)
Carrying Amount | Securitized Vacation Ownership Notes Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable		704,349	750,680
Carrying Amount | Non-Securitized Vacation Ownership Notes Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable		183,107	166,548
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative instruments	[3]	1,068
Total financial assets	[3]	1,053,459	1,081,494
Mandatorily redeemable preferred stock of consolidated subsidiary, gross	[3]	(42,562)	(43,837)
Liability for Marriott Rewards customer loyalty program	[3]	(66,605)	(80,448)
Other liabilities	[3]	(4,205)	(4,118)
Total financial liabilities	[3]	(897,318)	(844,686)
Fair Value | Non-Recourse Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, gross	[3]	(780,427)	(712,977)
Fair Value | Other Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, gross	[3]	(3,519)	(3,306)
Fair Value | Securitized Vacation Ownership Notes Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable	[3]	861,004	909,391
Fair Value | Non-Securitized Vacation Ownership Notes Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable	[3]	$ 191,387	$ 172,103
[1]	The debt associated with our vacation ownership notes receivable securitizations is non-recourse to us and represents estimated principal payments assuming purchase of the remaining vacation ownership notes receivable by the 2015-1 Trust in the fourth quarter of 2015 as discussed above.
[2]	Interest rates as of September 11, 2015 range from 2.2% to 7.2% with a weighted average interest rate of 2.8%.
[3]	Fair value of financial instruments, with the exception of derivative instruments, has been determined using Level 3 inputs. Fair value of derivative instruments has been determined using Level 2 inputs.

Carrying Values and Estimated46

Carrying Values and Estimated Fair Values of Financial Assets and Liabilities - Non-securitized Notes Receivable (Detail) - USD ($) $ in Thousands		Sep. 11, 2015	Jan. 02, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable		$ 887,456	$ 917,228
Non-Securitized Vacation Ownership Notes Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable		183,107	166,548
Carrying Amount | Non-Securitized Vacation Ownership Notes Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable		183,107	166,548
Carrying Amount | Non-Securitized Vacation Ownership Notes Receivable | Eligible for Securitization
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable	[1]	34,426	24,194
Carrying Amount | Non-Securitized Vacation Ownership Notes Receivable | Not Eligible for Securitization
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable		148,681	142,354
Fair Value | Non-Securitized Vacation Ownership Notes Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable	[2]	191,387	172,103
Fair Value | Non-Securitized Vacation Ownership Notes Receivable | Eligible for Securitization
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable	[1]	42,706	29,749
Fair Value | Non-Securitized Vacation Ownership Notes Receivable | Not Eligible for Securitization
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable		$ 148,681	$ 142,354
[1]	We expect that these vacation ownership notes receivable will be purchased by the 2015-1 Trust prior to December 31, 2015 in accordance with the terms of the securitization transaction completed in the third quarter of 2015. Refer to Footnote No. 9, "Debt," for discussion of the terms of this securitization transaction and the purchase of additional vacation ownership notes receivable by the 2015-1 Trust.
[2]	Fair value of financial instruments, with the exception of derivative instruments, has been determined using Level 3 inputs. Fair value of derivative instruments has been determined using Level 2 inputs.

Acquisitions and Dispositions -

Acquisitions and Dispositions - Additional Information (Detail) AUD in Millions	3 Months Ended						8 Months Ended
	Sep. 11, 2015USD ($)Room	Jun. 19, 2015USD ($)	Mar. 27, 2015USD ($)	Sep. 12, 2014USD ($)	Jun. 20, 2014USD ($)	Mar. 28, 2014USD ($)	Sep. 11, 2015USD ($)Room	Sep. 11, 2015AUD	Sep. 12, 2014USD ($)	Sep. 11, 2015AUDRoom	Jan. 02, 2015USD ($)
Business Acquisition [Line Items]
Capital expenditures for property and equipment (excluding inventory)							$ 20,873,000		$ 7,753,000
Other liabilities	$ 38,239,000						38,239,000				$ 27,071,000
Marco Island, Florida
Business Acquisition [Line Items]
Cash from disposal of property			$ 5,400,000
Vacation ownership inventory sold			3,100,000
Gain (loss) on disposition of business			0
Other liabilities	7,000,000						7,000,000
Other receivables	200,000						200,000
Marco Island, Florida | Notes Receivable
Business Acquisition [Line Items]
Non cash proceeds on sale of property			500,000				500,000
Surfers Paradise, Australia
Business Acquisition [Line Items]
Acquisition of an operating hotel							62,300,000	AUD 84.5
Cash paid for acquisition of operating hotel							61,000,000	82.6
Assumed net liabilities for acquisition of operating hotel							1,300,000	AUD 1.9
Purchase price allocation, land	21,300,000						21,300,000			AUD 28.9
Purchase price allocation, building and leasehold improvements	36,500,000						36,500,000			49.5
Surfers Paradise, Australia | Furniture And Equipment
Business Acquisition [Line Items]
Purchase price allocation, property and equipment	4,500,000						$ 4,500,000			AUD 6.1
Washington, D.C.
Business Acquisition [Line Items]
Acquisition of rooms of an operating hotel	$ 32,000,000
Number of rooms | Room	71						71			71
San Diego, California
Business Acquisition [Line Items]
Acquisition of an operating hotel			55,000,000
Cash paid for acquisition of operating hotel			55,000,000
Purchase price allocation, property and equipment			54,300,000
Purchase price allocation, other assets			700,000
Purchase of operating hotels			46,600,000
Capital expenditures for property and equipment (excluding inventory)			$ 7,700,000
HAWAII
Business Acquisition [Line Items]
Cash from disposal of property		$ 20,000,000
Purchase and sale agreement, gross cash consideration					$ 60,000,000
HAWAII | Other Operating Income (Expense)
Business Acquisition [Line Items]
Gain on sale of real estate, other	$ 8,700,000						$ 8,700,000
Orlando, Florida
Business Acquisition [Line Items]
Cash from disposal of property						$ 24,000,000
Gain on disposal of golf course and adjacent undeveloped land to be recorded over operating period							3,100,000
Orlando, Florida | Other Operating Income (Expense)
Business Acquisition [Line Items]
Gain on sale of real estate, other	$ 0			$ 200,000			$ 900,000		$ 1,800,000

Reconciliation of Earnings and

Reconciliation of Earnings and Number of Shares Used in Calculation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				8 Months Ended
	Sep. 11, 2015	[1]	Sep. 12, 2014	[2]	Sep. 11, 2015	[1]	Sep. 12, 2014	[2]
Computation of Basic Earnings Per Share
Net income	$ 21,555		$ 25,648		$ 89,650		$ 80,259
Weighted average shares outstanding	31,455		33,374		31,870		34,180
Basic earnings per share	$ 0.69		$ 0.77		$ 2.81		$ 2.35
Computation of Diluted Earnings Per Share
Net income	$ 21,555		$ 25,648		$ 89,650		$ 80,259
Weighted average shares outstanding	31,455		33,374		31,870		34,180
Effect of dilutive shares outstanding
Employee stock options and SARs	443		537		458		559
Restricted stock units	230		455		222		422
Shares for diluted earnings per share	32,128		34,366		32,550		35,161
Diluted earnings per share	$ 0.67		$ 0.75		$ 2.75		$ 2.28
[1]	The computations of diluted earnings per share exclude approximately 167,000 shares of common stock, the maximum number of shares issuable as of September 11, 2015 upon the vesting of certain performance-based awards, because the performance conditions required for the shares subject to such awards to vest were not achieved by the end of the reporting period.
[2]	The computations of diluted earnings per share exclude approximately 179,000 shares of common stock, the maximum number of shares issuable as of September 12, 2014 upon the vesting of certain performance-based awards, because the performance conditions required for the shares subject to such awards to vest were not achieved by the end of the reporting period.

Reconciliation of Earnings an49

Reconciliation of Earnings and Number of Shares Used in Calculation of Basic and Diluted Earnings Per Share (Parenthetical) (Detail) - shares	8 Months Ended
	Sep. 11, 2015	Sep. 12, 2014
Performance Shares
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Shares excluded from the calculation of diluted earnings per share (in shares)	167,000	179,000

Composition of Inventory (Detai

Composition of Inventory (Detail) - USD ($) $ in Thousands		Sep. 11, 2015	Jan. 02, 2015
Inventory Disclosure [Abstract]
Finished goods	[1]	$ 351,850	$ 413,066
Land and infrastructure	[2]	364,128	355,198
Real estate inventory		715,978	768,264
Operating supplies and retail inventory		5,686	4,520
Inventory		$ 721,664	$ 772,784
[1]	Represents completed inventory that is either registered for sale as vacation ownership interests, or unregistered and available for sale in its current form.
[2]	Includes $48.4 million of sales centers that are expected to be converted into vacation ownership products to be sold in the future and $80.7 million of inventory related to estimated future foreclosures at September 11, 2015.

Composition of Inventory (Paren

Composition of Inventory (Parenthetical) (Detail) - USD ($) $ in Thousands		Sep. 11, 2015	Jan. 02, 2015
Inventory [Line Items]
Land and infrastructure	[1]	$ 364,128	$ 355,198
Vacation Ownership
Inventory [Line Items]
Land and infrastructure		48,400
Estimated Future Foreclosures
Inventory [Line Items]
Land and infrastructure		$ 80,700
[1]	Includes $48.4 million of sales centers that are expected to be converted into vacation ownership products to be sold in the future and $80.7 million of inventory related to estimated future foreclosures at September 11, 2015.

Contingencies and Commitments -

Contingencies and Commitments - Additional Information (Detail)	Jan. 29, 2015Facility	Aug. 31, 2014Facility	Jun. 30, 2013Plaintiff	Apr. 30, 2013Plaintiff	Jun. 20, 2014USD ($)	Sep. 11, 2015USD ($)	Sep. 12, 2014USD ($)	Jan. 02, 2015Plaintiff
Commitments and Contingencies Disclosure [Line Items]
Commitments to subsidize vacation ownership associations						$ 2,500,000
Surety bonds issued						78,400,000
Letters of credit outstanding						3,300,000
Accrued loss contingencies						900,000
Number of plaintiffs in lawsuits | Plaintiff				12
Number of residential units provided full release | Plaintiff								2
Amount of cash received from settlement of dispute					$ 7,600,000
Gain on settlement of dispute						$ 262,000
Kapalua Bay Settlement
Commitments and Contingencies Disclosure [Line Items]
Number of plaintiffs in lawsuits | Plaintiff			38
Extended Term
Commitments and Contingencies Disclosure [Line Items]
Underlying notes extended expiration year						2,022
Final Settlement
Commitments and Contingencies Disclosure [Line Items]
Gain on settlement of dispute							$ 7,600,000
Project Completion Guarantee | Vacation Ownership
Commitments and Contingencies Disclosure [Line Items]
Estimated cash outflow associated with completing all phases of existing portfolio of projects						$ 13,100,000
Liabilities related to projects						$ 4,300,000
Project estimated completion year						2,017
Revolving Credit Facility
Commitments and Contingencies Disclosure [Line Items]
Revolving credit facility amount						$ 200,000,000
Commitment to purchase vacation ownership units located in Miami, Florida
Commitments and Contingencies Disclosure [Line Items]
Commitment to purchase vacation ownership units						75,500,000
Deposit made						3,800,000
Remaining payment contingent upon acquisition of units						67,900,000
Additional Payment						$ 3,800,000
Purchase commitment description						In the event that the seller fails to obtain a permanent certificate of occupancy for the entire project on or about the end of October, we may terminate the contract and receive a return of the initial deposit.
Commitment to purchase vacation ownership units located in Miami, Florida | Minimum
Commitments and Contingencies Disclosure [Line Items]
Purchase commitment extension period						30 days
Commitment to purchase vacation ownership units located in Miami, Florida | Maximum
Commitments and Contingencies Disclosure [Line Items]
Purchase commitment extension period						90 days
Commitment to purchase vacation ownership units located in Marco Island, Florida
Commitments and Contingencies Disclosure [Line Items]
Unfunded purchase commitments						$ 137,100,000
Commitment to purchase vacation ownership units due in 2017						33,300,000
Commitment to purchase vacation ownership units due in 2018						50,000,000
Commitment to purchase vacation ownership units due in 2019						53,800,000
Commitment to purchase vacation ownership units located on the Big Island of Hawaii
Commitments and Contingencies Disclosure [Line Items]
Commitment to purchase vacation ownership units						38,500,000
Deposit made						1,500,000
Remaining payment contingent upon acquisition of units						37,000,000
Commitment to purchase vacation ownership units located on the Big Island of Hawaii | Minimum
Commitments and Contingencies Disclosure [Line Items]
Unfunded purchase commitments						45,000,000
Commitment to purchase vacation ownership units located on the Big Island of Hawaii | Maximum
Commitments and Contingencies Disclosure [Line Items]
Unfunded purchase commitments						55,000,000
Information technology hardware and software
Commitments and Contingencies Disclosure [Line Items]
Contractual Commitments Future Minimum Payments Due						27,600,000
Contractual Commitments Future Minimum Payments due in 2015						5,300,000
Contractual Commitments Future Minimum Payments due in 2016						8,300,000
Contractual Commitments Future Minimum Payments due in 2017						5,800,000
Contractual Commitments Future Minimum Payments due in 2018						2,600,000
Contractual Commitments Future Minimum Payments due in 2019						1,500,000
Contractual Commitments Future Minimum Payments due Thereafter						$ 4,100,000
Resorts in California
Commitments and Contingencies Disclosure [Line Items]
Number of resort received notices of intent | Facility	1
Resorts in Hawaii
Commitments and Contingencies Disclosure [Line Items]
Number of resort received notices of intent | Facility		2

Maximum Potential Amount of Fut

Maximum Potential Amount of Future Fundings for Financing Guarantees and Carrying Amount of Liability for Expected Future Fundings (Detail) - Primary Obligor	Sep. 11, 2015USD ($)
Guarantor Obligations [Line Items]
Maximum Potential Amount of Future Fundings	$ 8,668,000
Liability for Expected Future Fundings	236,000
Asia Pacific
Guarantor Obligations [Line Items]
Maximum Potential Amount of Future Fundings	5,822,000
Liability for Expected Future Fundings	59,000
North America
Guarantor Obligations [Line Items]
Maximum Potential Amount of Future Fundings	2,846,000
Liability for Expected Future Fundings	$ 177,000

Debt Balances, Net of Unamortiz

Debt Balances, Net of Unamortized Debt Issuance Costs (Detail) - USD ($) $ in Thousands		Sep. 11, 2015	Jan. 02, 2015
Debt Instrument [Line Items]
Debt, gross		$ 780,167
Unamortized debt issuance costs		(1,065)	$ (1,184)
Debt, net		769,716	703,013
Carrying Amount
Debt Instrument [Line Items]
Debt, net		769,716	703,013
Non-Recourse Debt
Debt Instrument [Line Items]
Debt, gross	[1]	776,648
Non-Recourse Debt | Carrying Amount
Debt Instrument [Line Items]
Debt, gross	[2]	776,648	708,031
Unamortized debt issuance costs		(10,187)	(8,090)
Debt, net		766,461	699,941
Other Debt
Debt Instrument [Line Items]
Debt, gross		3,519
Other Debt | Carrying Amount
Debt Instrument [Line Items]
Debt, gross		3,519	3,306
Unamortized debt issuance costs		(264)	(234)
Debt, net		$ 3,255	$ 3,072
[1]	The debt associated with our vacation ownership notes receivable securitizations is non-recourse to us and represents estimated principal payments assuming purchase of the remaining vacation ownership notes receivable by the 2015-1 Trust in the fourth quarter of 2015 as discussed above.
[2]	Interest rates as of September 11, 2015 range from 2.2% to 7.2% with a weighted average interest rate of 2.8%.

Debt Balances, Net of Unamort55

Debt Balances, Net of Unamortized Debt Issuance Costs (Parenthetical) (Detail) - Non-Recourse Debt	Sep. 11, 2015
Debt Instrument [Line Items]
Debt, weighted average interest rate	2.80%
Minimum
Debt Instrument [Line Items]
Debt, stated interest rate	2.20%
Maximum
Debt Instrument [Line Items]
Debt, stated interest rate	7.20%

Debt - Additional Information (

Debt - Additional Information (Detail)	Sep. 24, 2015USD ($)	Aug. 13, 2015USD ($)Class	Sep. 11, 2015USD ($)Loan	Sep. 12, 2014USD ($)	Jan. 02, 2015USD ($)
Debt Disclosure [Line Items]
Securitization pool of vacation ownership notes receivable		$ 264,200,000
Cash proceeds held			$ 121,752,000		$ 109,907,000
Restricted cash released			12,616,000	$ (20,656,000)
Cash paid for interest, net of amounts capitalized			$ 18,500,000	$ 19,400,000
Number of notes receivable pools failed to perform within the established parameters | Loan			0
Number of notes receivable pools outstanding | Loan			7
Non-Recourse Debt
Debt Disclosure [Line Items]
Debt, weighted average interest rate			2.80%
MVW Owner Trust 2015-1 | Non-Recourse Debt
Debt Disclosure [Line Items]
Securitization of vacation ownership notes receivable purchased by the trust		211,400,000
Debt instrument face amount		255,000,000
Cash proceeds held		$ 51,400,000
Number of classes of vacation ownership backed notes issued | Class		2
Debt, weighted average interest rate		2.56%
MVW Owner Trust 2015-1 | Non-Recourse Debt | Subsequent Event
Debt Disclosure [Line Items]
Securitization of vacation ownership notes receivable purchased by the trust	$ 31,500,000
Restricted cash released	$ 30,400,000
MVW Owner Trust 2015-1 | Non-Recourse Debt | Class A Notes
Debt Disclosure [Line Items]
Debt instrument face amount		$ 233,200,000
Debt, stated interest rate		2.52%
MVW Owner Trust 2015-1 | Non-Recourse Debt | Class B Notes
Debt Disclosure [Line Items]
Debt instrument face amount		$ 21,800,000
Debt, stated interest rate		2.96%
Warehouse Credit Facility
Debt Disclosure [Line Items]
Warehouse Credit Facility, debt description			The Warehouse Credit Facility currently terminates on September 15, 2016 and if not renewed, any amounts outstanding thereunder would become due and payable 13 months after termination, at which time all principal and interest collected with respect to the vacation ownership notes receivable held in the Warehouse Credit Facility would be redirected to the lenders to pay down the outstanding debt under the facility.
Amount borrowed under revolving corporate credit facility			$ 0
Warehouse Credit Facility, maturity date			Sep. 15, 2016
Revolving Credit Facility
Debt Disclosure [Line Items]
Amount borrowed under revolving corporate credit facility			$ 0

Scheduled Future Principal Paym

Scheduled Future Principal Payments for Debt (Detail) $ in Thousands	Sep. 11, 2015USD ($)
Debt Principal Payments Year
2,015	$ 35,386
2,016	111,908
2,017	106,651
2,018	93,137
2,019	81,745
Thereafter	351,340
Debt, gross	780,167
Non-Recourse Debt
Debt Principal Payments Year
2,015	35,357	[1]
2,016	111,848	[1]
2,017	106,587	[1]
2,018	93,068	[1]
2,019	81,671	[1]
Thereafter	348,117	[1]
Debt, gross	776,648	[1]
Other Debt
Debt Principal Payments Year
2,015	29
2,016	60
2,017	64
2,018	69
2,019	74
Thereafter	3,223
Debt, gross	$ 3,519
[1]	The debt associated with our vacation ownership notes receivable securitizations is non-recourse to us and represents estimated principal payments assuming purchase of the remaining vacation ownership notes receivable by the 2015-1 Trust in the fourth quarter of 2015 as discussed above.

Mandatorily Redeemable Prefer58

Mandatorily Redeemable Preferred Stock Of Consolidated Subsidiary - Additional Information (Detail) - Series A Preferred Stock - Non-voting - USD ($) $ in Millions	1 Months Ended	8 Months Ended
	Oct. 31, 2011	Sep. 11, 2015
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Series A preferred stock issued value	$ 40
Preferred stock dividend payment terms		Subsequently Marriott International sold all of this preferred stock to third-party investors. Until October 2016, the Series A preferred stock will pay an annual cash dividend equal to the five-year U.S. Treasury Rate as of October 19, 2011, plus a spread of 10.958 percent, for a total annual cash dividend rate of 12 percent. If we do not elect to redeem the preferred stock in October 2016, the annual cash dividend rate will be reset to the five-year U.S. Treasury Rate in effect on such date plus the same 10.958 percent spread.
Series A preferred stock, basic point	10.958%
Series A preferred stock, dividend rate	12.00%
Preferred Stock Redemption Terms		The Series A preferred stock is mandatorily redeemable by MVW US Holdings upon the tenth anniversary of the date of issuance but can be redeemed at our option after five years (i.e., beginning in October 2016) at par. The Series A preferred stock has an aggregate liquidation preference of $40.0 million plus any accrued and unpaid dividends and an additional premium if liquidation occurs during the first five years after the issuance of the preferred stock.
Series A preferred stock, aggregate liquidation preference value	$ 40
Series A preferred stock, share authorized		1,000
Series A preferred stock, share issued		40
Series A preferred stock, share outstanding		40

Mandatorily Redeemable Prefer59

Mandatorily Redeemable Preferred Stock, Net of Unamortized Debt Issuance Costs (Detail) - USD ($) $ in Thousands	Sep. 11, 2015	Jan. 02, 2015
Equity [Abstract]
Mandatorily redeemable preferred stock of consolidated subsidiary, gross	$ 40,000	$ 40,000
Unamortized debt issuance costs	(1,065)	(1,184)
Mandatorily redeemable preferred stock of consolidated subsidiary, net	$ 38,935	$ 38,816

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Detail) - $ / shares	3 Months Ended	8 Months Ended
	Sep. 11, 2015	Sep. 11, 2015	Jan. 02, 2015
Equity [Abstract]
Common stock, shares authorized	100,000,000	100,000,000	100,000,000
Common stock, par value	$ 0.01	$ 0.01	$ 0.01
Common stock, shares issued	36,355,412	36,355,412	36,089,513
Common stock, shares outstanding	31,061,349	31,061,349	32,092,788
Treasury stock, shares	5,294,063	5,294,063	3,996,725
Preferred stock, shares authorized	2,000,000	2,000,000	2,000,000
Preferred stock, par value	$ 0.01	$ 0.01	$ 0.01
Preferred stock, issued	0	0	0
Preferred stock, outstanding	0	0	0
Shares remained available for repurchase under the program	1,600,000	1,600,000
Dividend declared, per share	$ 0.25	$ 0.75
Dividend declared, record date	Sep. 24, 2015
Dividend declared, payment date	Oct. 8, 2015

Changes in Shareholder's Equity

Changes in Shareholder's Equity (Detail) - USD ($) $ in Thousands	3 Months Ended				8 Months Ended
	Sep. 11, 2015		Sep. 12, 2014		Sep. 11, 2015		Sep. 12, 2014
Stockholders Equity Note [Line Items]
Beginning Balance					$ 1,079,703
Net income	$ 21,555	[1]	$ 25,648	[2]	89,650	[1]	$ 80,259	[2]
Foreign currency translation adjustments	(1,392)		$ (3,047)		(3,749)		$ (3,127)
Amounts related to share-based compensation					343
Adjustment to reclassification of Marriott International investment to Additional paid-in capital					(77)
Repurchase of common stock					(106,110)
Dividends					(23,789)
Ending Balance	1,035,971				1,035,971
Common Stock
Stockholders Equity Note [Line Items]
Beginning Balance					361
Amounts related to share-based compensation					2
Ending Balance	363				363
Treasury Stock
Stockholders Equity Note [Line Items]
Beginning Balance					(229,229)
Repurchase of common stock					(106,110)
Ending Balance	(335,339)				(335,339)
Additional Paid-In Capital
Stockholders Equity Note [Line Items]
Beginning Balance					1,137,785
Amounts related to share-based compensation					341
Adjustment to reclassification of Marriott International investment to Additional paid-in capital					(77)
Ending Balance	1,138,049				1,138,049
Accumulated Other Comprehensive Income
Stockholders Equity Note [Line Items]
Beginning Balance					17,054
Foreign currency translation adjustments					(3,749)
Ending Balance	13,305				13,305
Retained (Deficit) Earnings
Stockholders Equity Note [Line Items]
Beginning Balance					153,732
Net income					89,650
Dividends					(23,789)
Ending Balance	$ 219,593				$ 219,593
[1]	The computations of diluted earnings per share exclude approximately 167,000 shares of common stock, the maximum number of shares issuable as of September 11, 2015 upon the vesting of certain performance-based awards, because the performance conditions required for the shares subject to such awards to vest were not achieved by the end of the reporting period.
[2]	The computations of diluted earnings per share exclude approximately 179,000 shares of common stock, the maximum number of shares issuable as of September 12, 2014 upon the vesting of certain performance-based awards, because the performance conditions required for the shares subject to such awards to vest were not achieved by the end of the reporting period.

Summary of Stock Repurchase Act

Summary of Stock Repurchase Activity (Detail) $ / shares in Units, $ in Thousands	8 Months Ended
	Sep. 11, 2015USD ($)$ / sharesshares
Stock Repurchase Program [Line Items]
Number of Shares Repurchased, As of January 2, 2015 | shares	3,996,725
Number of Shares Repurchased, As of September 11, 2015 | shares	5,294,063
Cost of Shares Repurchased, As of January 2, 2015	$ 229,229
Cost of Shares Repurchased, For the thirty-six weeks ended September 11, 2015	106,110
Cost of Shares Repurchased, As of September 11, 2015	$ 335,339
Treasury Stock
Stock Repurchase Program [Line Items]
Number of Shares Repurchased, As of January 2, 2015 | shares	3,996,725
Number of Shares Repurchased, For the thirty-six weeks ended September 11, 2015 | shares	1,297,338
Number of Shares Repurchased, As of September 11, 2015 | shares	5,294,063
Cost of Shares Repurchased, As of January 2, 2015	$ 229,229
Cost of Shares Repurchased, For the thirty-six weeks ended September 11, 2015	106,110
Cost of Shares Repurchased, As of September 11, 2015	$ 335,339
Average Price Paid per Share, As of January 2, 2015 | $ / shares	$ 57.35
Average Price Paid per Share, For the thirty-six weeks ended September 11, 2015 | $ / shares	81.79
Average Price Paid per Share, As of September 11, 2015 | $ / shares	$ 63.34

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		8 Months Ended
	Sep. 11, 2015	Sep. 12, 2014	Sep. 11, 2015	Sep. 12, 2014	Jan. 02, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation costs related to unvested awards	$ 17.2		$ 17.2		$ 12.2
Officers and Key Management Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 3	$ 3	$ 9.6	$ 9.2
Marriott Vacations Worldwide Stock and Cash Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance under the plan	6,000,000		6,000,000
Shares available for grants under the plan	1,800,000		1,800,000
Restricted stock units | Employees and Non Employee Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards, grants in period			130,007
Stock awards granted, weighted average grant date fair value			$ 78.22
Restricted stock units | Employee | Employees and Non Employee Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards, vesting period			4 years
Performance Based Restricted Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards, vesting period			3 years	3 years
Maximum amount of RSU subject to vesting			74,000	62,000
Stock Appreciation Rights (SARs) | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards, grants in period			62,018
Stock awards granted, weighted average grant date fair value			$ 29.75
Stock awards, vesting period			4 years
Stock awards, expiration from grant date			10 years
Stock awards, weighted average exercise price	$ 77.42		$ 77.42
Marriott Vacations Worldwide Corporation Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance under the plan	500,000		500,000
Marriott Vacations Worldwide Corporation Employee Stock Purchase Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of fair market value per share of common stock	95.00%

Assumptions Used to Estimate Fa

Assumptions Used to Estimate Fair Value of Grants (Detail)	8 Months Ended
	Sep. 11, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected volatility	42.74%
Dividend yield	1.26%
Risk-free rate	1.74%
Expected term (in years)	6 years 3 months

Classifications of Consolidated

Classifications of Consolidated VIE Assets and Liabilities (Detail) $ in Thousands	Sep. 11, 2015USD ($)
Variable Interest Entity [Line Items]
VIE Assets	$ 802,363
VIE Liabilities	778,283
Non-Recourse Debt
Variable Interest Entity [Line Items]
VIE Liabilities	776,648
Vacation Ownership Notes Receivable
Variable Interest Entity [Line Items]
VIE Assets	704,349
Interest Receivable
Variable Interest Entity [Line Items]
VIE Assets	4,211
Restricted Cash
Variable Interest Entity [Line Items]
VIE Assets	93,803	[1]
Interest Payable
Variable Interest Entity [Line Items]
VIE Liabilities	1,635
Vacation Ownership Notes Receivable Securitizations
Variable Interest Entity [Line Items]
VIE Assets	802,363
VIE Liabilities	778,195
Vacation Ownership Notes Receivable Securitizations | Non-Recourse Debt
Variable Interest Entity [Line Items]
VIE Liabilities	776,648
Vacation Ownership Notes Receivable Securitizations | Vacation Ownership Notes Receivable
Variable Interest Entity [Line Items]
VIE Assets	704,349
Vacation Ownership Notes Receivable Securitizations | Interest Receivable
Variable Interest Entity [Line Items]
VIE Assets	4,211
Vacation Ownership Notes Receivable Securitizations | Restricted Cash
Variable Interest Entity [Line Items]
VIE Assets	93,803	[1]
Vacation Ownership Notes Receivable Securitizations | Interest Payable
Variable Interest Entity [Line Items]
VIE Liabilities	1,547
Warehouse Credit Facility
Variable Interest Entity [Line Items]
VIE Liabilities	88
Warehouse Credit Facility | Interest Payable
Variable Interest Entity [Line Items]
VIE Liabilities	$ 88
[1]	Includes $51.4 million of the proceeds from the securitization transaction completed during the third quarter of 2015, which will be released as the remaining vacation ownership notes receivable are purchased by the 2015-1 Trust. Refer to Footnote No. 9, "Debt," for discussion of the terms of this securitization transaction and the purchase of additional vacation ownership notes receivable by the 2015-1 Trust.

Classifications of Consolidat66

Classifications of Consolidated VIE Assets and Liabilities (Parenthetical) (Detail) - USD ($) $ in Thousands	Sep. 11, 2015	Aug. 13, 2015	Jan. 02, 2015
Variable Interest Entity [Line Items]
Cash proceeds held	$ 121,752		$ 109,907
Non-Recourse Debt | MVW Owner Trust 2015-1
Variable Interest Entity [Line Items]
Cash proceeds held		$ 51,400

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Detail) - USD ($)	Jun. 13, 2013	Sep. 11, 2015	Jan. 02, 2015
Variable Interest Entity [Line Items]
Noncontrolling interest		$ 0
Aggregate funding that could be required above the overcollateralization		10,000,000
Vacation ownership notes receivable		$ 887,456,000	$ 917,228,000
Variable Interest Entity
Variable Interest Entity [Line Items]
Maximum Loss Exposure, Determination Methodology		Our maximum exposure to loss relating to the special purpose entities that purchase, sell and own these vacation ownership notes receivable is the overcollateralization amount (the difference between the loan collateral balance and the balance on the outstanding vacation ownership notes receivable), plus cash reserves and any residual interest in future cash flows from collateral.
Vacation ownership notes receivable		$ 704,349,000	$ 750,680,000
Variable Interest Entity, Not Primary Beneficiary | Equity Investment And Loan Receivable
Variable Interest Entity [Line Items]
Maximum Loss Exposure, Determination Methodology		We had an accrual of $4.1 million for potential future funding obligations, representing our remaining expected exposure to loss related to our involvement with the Joint Venture exclusive of any future costs that may be incurred pursuant to outstanding litigation matters, including those discussed in Footnote No. 8, "Contingencies and Commitments."
Vacation ownership notes receivable		$ 0
Notes receivable due from the entity	$ 7,400,000
Increase in litigation matters cost expected to be incurred in joint venture interest		$ 4,100,000
Minimum
Variable Interest Entity [Line Items]
Limit to repurchasing defaulted mortgage notes at the outstanding principal balance		15.00%
Maximum
Variable Interest Entity [Line Items]
Limit to repurchasing defaulted mortgage notes at the outstanding principal balance		20.00%

Interest Income and Expense Rec

Interest Income and Expense Recognized as a Result of Our Involvement with Variable Interest Entities (Detail) - USD ($) $ in Thousands	3 Months Ended		8 Months Ended
	Sep. 11, 2015	Sep. 12, 2014	Sep. 11, 2015	Sep. 12, 2014
Variable Interest Entity [Line Items]
Interest income	$ 26,926	$ 28,076	$ 81,420	$ 85,541
Debt issuance cost amortization			3,739	3,762
Administrative expenses	23,214	$ 21,932	68,883	$ 66,913
Variable Interest Entity
Variable Interest Entity [Line Items]
Interest income	20,005		59,992
Interest expense to investors	4,324		13,614
Debt issuance cost amortization	965		2,944
Administrative expenses	101		320
Variable Interest Entity | Vacation Ownership Notes Receivable Securitizations
Variable Interest Entity [Line Items]
Interest income	20,005		59,992
Interest expense to investors	4,003		12,659
Debt issuance cost amortization	688		2,102
Administrative expenses	64		216
Variable Interest Entity | Warehouse Credit Facility
Variable Interest Entity [Line Items]
Interest expense to investors	321		955
Debt issuance cost amortization	277		842
Administrative expenses	$ 37		$ 104

Cash Flows Between Company and

Cash Flows Between Company and Variable Interest Entities (Detail) - USD ($) $ in Thousands		8 Months Ended
		Sep. 11, 2015	Sep. 12, 2014
Vacation Ownership Notes Receivable Securitizations
Cash inflows (outflows):
Net proceeds from vacation ownership notes receivable securitizations		$ 252,361	$ 22,638
Principal receipts		127,571	124,575
Interest receipts		62,324	61,549
Reserve release		2,478	1,608
Total		444,734	210,370
Principal to investors		(114,561)	(117,351)
Voluntary repurchases of defaulted vacation ownership notes receivable		(17,802)	(18,289)
Voluntary clean-up call		(54,020)	(26,722)
Interest to investors		(12,160)	(14,104)
Funding of restricted cash	[1]	(52,756)
Total		(251,299)	(176,466)
Net Cash Flows		193,435	33,904
Warehouse Credit Facility
Cash inflows (outflows):
Interest to investors		(920)	(1,013)
Total		(920)	(1,013)
Net Cash Flows		$ (920)	$ (1,013)
[1]	Includes $51.4 million of the proceeds from the securitization transaction completed during the third quarter of 2015, which will be released as the remaining vacation ownership notes receivable are purchased by the 2015-1 Trust. Refer to Footnote No. 9, "Debt," for discussion of the terms of this securitization transaction and the purchase of additional vacation ownership notes receivable by the 2015-1 Trust.

Cash Flows Between Company an70

Cash Flows Between Company and Variable Interest Entities (Parenthetical) (Detail) - USD ($) $ in Thousands	Sep. 11, 2015	Aug. 13, 2015	Jan. 02, 2015
Variable Interest Entity [Line Items]
Cash proceeds held	$ 121,752		$ 109,907
Non-Recourse Debt | MVW Owner Trust 2015-1
Variable Interest Entity [Line Items]
Cash proceeds held		$ 51,400

Business Segments - Additional

Business Segments - Additional Information (Detail)	8 Months Ended
	Sep. 11, 2015Segment
Segment Reporting [Abstract]
Number of business segments	3

Revenues (Detail)

Revenues (Detail) - USD ($) $ in Thousands	3 Months Ended		8 Months Ended
	Sep. 11, 2015	Sep. 12, 2014	Sep. 11, 2015	Sep. 12, 2014
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 407,136	$ 413,038	$ 1,284,843	$ 1,224,887
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	407,136	413,038	1,284,843	1,224,887
Operating Segments | North America
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	362,440	363,901	1,138,857	1,093,153
Operating Segments | Europe
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	31,995	37,291	80,203	96,511
Operating Segments | Asia Pacific
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 12,701	$ 11,846	$ 65,783	$ 35,223

Net Income (Loss) (Detail)

Net Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended				8 Months Ended
	Sep. 11, 2015		Sep. 12, 2014		Sep. 11, 2015		Sep. 12, 2014
Segment Reporting, Reconciliation of Net Income (Loss) Segment to Consolidated [Line Items]
Segment financial results	$ 36,163		$ 43,510		$ 150,950		$ 133,228
Provision for income taxes	(14,608)		(17,862)		(61,300)		(52,969)
Net income (loss)	21,555	[1]	25,648	[2]	89,650	[1]	80,259	[2]
Corporate and Other
Segment Reporting, Reconciliation of Net Income (Loss) Segment to Consolidated [Line Items]
Segment financial results	(51,277)		(50,229)		(151,237)		(151,388)
Operating Segments
Segment Reporting, Reconciliation of Net Income (Loss) Segment to Consolidated [Line Items]
Segment financial results	87,440		93,739		302,187		284,616
Operating Segments | North America
Segment Reporting, Reconciliation of Net Income (Loss) Segment to Consolidated [Line Items]
Segment financial results	85,337		86,008		287,676		267,339
Operating Segments | Europe
Segment Reporting, Reconciliation of Net Income (Loss) Segment to Consolidated [Line Items]
Segment financial results	6,159		6,701		9,179		13,262
Operating Segments | Asia Pacific
Segment Reporting, Reconciliation of Net Income (Loss) Segment to Consolidated [Line Items]
Segment financial results	$ (4,056)		$ 1,030		$ 5,332		$ 4,015
[1]	The computations of diluted earnings per share exclude approximately 167,000 shares of common stock, the maximum number of shares issuable as of September 11, 2015 upon the vesting of certain performance-based awards, because the performance conditions required for the shares subject to such awards to vest were not achieved by the end of the reporting period.
[2]	The computations of diluted earnings per share exclude approximately 179,000 shares of common stock, the maximum number of shares issuable as of September 12, 2014 upon the vesting of certain performance-based awards, because the performance conditions required for the shares subject to such awards to vest were not achieved by the end of the reporting period.

Assets (Detail)

Assets (Detail) - USD ($) $ in Thousands	Sep. 11, 2015	Jan. 02, 2015
Segment Reporting Information [Line Items]
Total Assets	$ 2,527,027	$ 2,530,579
Corporate and Other
Segment Reporting Information [Line Items]
Total Assets	424,278	476,595
Operating Segments
Segment Reporting Information [Line Items]
Total Assets	2,102,749	2,053,984
Operating Segments | North America
Segment Reporting Information [Line Items]
Total Assets	1,887,189	1,879,648
Operating Segments | Europe
Segment Reporting Information [Line Items]
Total Assets	79,451	88,867
Operating Segments | Asia Pacific
Segment Reporting Information [Line Items]
Total Assets	$ 136,109	$ 85,469

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event	Oct. 12, 2015shares
Subsequent Event [Line Items]
Share repurchase program, number of additional common stock authorized to be repurchased	2,000,000
Share repurchase program, termination date	Mar. 24, 2017