Marriott Vacations Worldwide (VAC) 8-K 5 Jun 18 2017 FY Other Events Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2017
Document And Entity Information [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Trading Symbol	VAC
Entity Registrant Name	Marriott Vacations Worldwide Corporation
Entity Central Index Key	1,524,358
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	Dec. 07, 2017	Sep. 07, 2017	May 11, 2017	Feb. 09, 2017	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 09, 2016	Jun. 17, 2016	Mar. 25, 2016	Dec. 30, 2016	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
REVENUES
Sale of vacation ownership products													$ 757	$ 623	$ 693
Resort management and other services													279	278	269
Financing													135	127	125
Rental													262	252	260
Cost reimbursements													750	720	720
TOTAL REVENUES					$ 562	$ 530	$ 563	$ 528	$ 484	$ 452	$ 442	$ 622	2,183	2,000	2,067
EXPENSES
Cost of vacation ownership products													194	163	218
Marketing and sales													395	340	317
Resort management and other services													155	157	163
Financing													18	19	21
Rental													223	212	211
General and administrative													110	105	106
Litigation settlement													4	(1)	0
Organizational and separation related													0	0	1
Consumer financing interest													25	24	25
Royalty fee													63	61	59
Impairment													0	0	1
Cost reimbursements													750	720	720
TOTAL EXPENSES					504	461	489	483	418	416	424	542	1,937	1,800	1,842
Gains and other income, net													6	11	10
Interest expense													(10)	(9)	(13)
Other													(2)	(4)	(8)
INCOME BEFORE INCOME TAXES													240	198	214
Provision for income taxes													(5)	(76)	(87)
NET INCOME					$ 112	$ 47	$ 48	$ 28	$ 41	$ 25	$ 7	$ 49	$ 235	$ 122	$ 127
EARNINGS PER SHARE
Basic earnings per share (in usd per share)					$ 4.21	$ 1.74	$ 1.76	$ 1.02	$ 1.51	$ 0.90	$ 0.23	$ 1.79	$ 8.70	$ 4.37	$ 4.04
Diluted earnings per share (in usd per share)					$ 4.10	$ 1.70	$ 1.72	$ 1	$ 1.48	$ 0.89	$ 0.23	$ 1.75	8.49	4.29	3.95
Cash dividends declared per share of common stock (in usd per share)	$ 0.40	$ 0.35	$ 0.35	$ 0.35									$ 1.45	$ 1.25	$ 1.05

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 235	$ 122	$ 127
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	12	(6)	(6)
Total other comprehensive income (loss), net of tax	12	(6)	(6)
COMPREHENSIVE INCOME	$ 247	$ 116	$ 121

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2017	Dec. 30, 2016
ASSETS
Cash and cash equivalents	$ 409	$ 147
Restricted cash (including $32 and $28 from VIEs, respectively)	82	66
Accounts receivable, net (including $6 and $5 from VIEs, respectively)	92	85
Vacation ownership notes receivable, net (including $814 and $717 from VIEs, respectively)	1,115	970
Inventory	728	727
Property and equipment	253	203
Other (including $14 and $0 from VIEs, respectively)	166	122
TOTAL ASSETS	2,845	2,320
LIABILITIES AND EQUITY
Accounts payable	145	124
Advance deposits	84	82
Accrued liabilities (including $1 and $1 from VIEs, respectively)	120	105
Deferred revenue	69	59
Payroll and benefits liability	112	96
Deferred compensation liability	75	63
Debt, net (including $845 and $738 from VIEs, respectively)	1,095	737
Other	14	16
Deferred taxes	90	143
TOTAL LIABILITIES	1,804	1,425
Contingencies and Commitments (Note 10)
Preferred stock — $.01 par value; 2,000,000 shares authorized; none issued or outstanding	0	0
Common stock — $.01 par value; 100,000,000 shares authorized; 36,861,843 and 36,633,868 shares issued, respectively	0	0
Treasury stock — at cost; 10,400,547 and 9,643,562 shares, respectively	(694)	(607)
Additional paid-in capital	1,189	1,163
Accumulated other comprehensive income	17	5
Retained earnings	529	334
TOTAL EQUITY	1,041	895
TOTAL LIABILITIES AND EQUITY	$ 2,845	$ 2,320

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 30, 2016
Restricted Cash	$ 82	$ 66
Accounts receivable, net	92	85
Vacation ownership notes receivable, net	1,115	970
Other assets	166	122
Accrued liabilities	120	105
Debt, net	$ 1,095	$ 737
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	36,861,843	36,633,868
Treasury stock, shares (in shares)	10,400,547	9,643,562
Variable Interest Entity
Restricted Cash	$ 32	$ 28
Accounts receivable, net	6	5
Vacation ownership notes receivable, net	814	717
Other assets	14	0
Accrued liabilities	1	1
Debt, net	$ 845	$ 738

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 30, 2016USD ($)	Jan. 01, 2016USD ($)
OPERATING ACTIVITIES
Net income	$ 235	$ 122	$ 127
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	21	21	22
Amortization of debt discount and issuance costs	10	6	6
Vacation ownership notes receivable reserve	52	45	36
Share-based compensation	16	14	14
Loss (gain) on disposal of property and equipment, net	2	(11)	(10)
Deferred income taxes	(61)	30	31
Net change in assets and liabilities:
Accounts receivable	(9)	0	(26)
Notes receivable originations	(466)	(357)	(311)
Notes receivable collections	270	254	270
Inventory	45	(1)	73
Purchase of vacation ownership units for future transfer to inventory	(34)	0	0
Purchase of operating properties for future conversion to inventory	0	0	(62)
Other assets	(21)	12	(11)
Accounts payable, advance deposits and accrued liabilities	39	(14)	26
Liability for Marriott Rewards customer loyalty program	0	0	(89)
Deferred revenue	9	15	(6)
Payroll and benefit liabilities	16	(7)	11
Deferred compensation liability	12	12	9
Other liabilities	0	1	3
Other, net	6	(1)	6
Net cash provided by operating activities	142	141	119
INVESTING ACTIVITIES
Capital expenditures for property and equipment (excluding inventory)	(26)	(35)	(36)
Purchase of company owned life insurance	(12)	0	0
Purchase of operating property to be sold	0	0	(48)
Dispositions, net	0	69	21
Net cash (used in) provided by investing activities	(38)	34	(63)
FINANCING ACTIVITIES
Borrowings from securitization transactions	400	377	255
Repayment of debt related to securitization transactions	(293)	(323)	(278)
Borrowings from Revolving Corporate Credit Facility	88	85	0
Repayment of Revolving Corporate Credit Facility	(88)	(85)	0
Proceeds from issuance of Convertible Notes	230	0	0
Purchase of Convertible Note Hedges	(33)	0	0
Proceeds from issuance of Warrants	20	0	0
Proceeds from vacation ownership inventory arrangement	0	0	5
Debt issuance costs	(15)	(4)	(5)
Repurchase of common stock	(88)	(178)	(201)
Redemption of mandatorily redeemable preferred stock of consolidated subsidiary	0	(40)	0
Payment of dividends	(38)	(34)	(24)
Payment of withholding taxes on vesting of restricted stock units	(11)	(4)	(11)
Other, net	(1)	0	0
Net cash provided by (used in) financing activities	171	(206)	(259)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash	3	(5)	(4)
Increase (decrease) in cash, cash equivalents and restricted cash	278	(36)	(207)
Cash, cash equivalents and restricted cash, beginning of year	213	249	456
Cash, cash equivalents and restricted cash, end of year	491	213	249
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Dividends payable	11	9	9
Non-cash issuance of debt in connection with acquisition of vacation ownership units	64	0	0
Non-cash transfer from Inventory to Property and equipment	0	10	31
Non-cash transfer of debt	0	3	0
Property acquired via capital lease	$ 0	$ 7	$ 0

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - USD ($) $ in Millions	Total	Common Stock	Treasury Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income	Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Impact of adoption of ASU 2014-09	$ (2)					$ (2)
OPENING BALANCE 2015	1,078	$ 0	$ (229)	$ 1,138	$ 17	152
Balance (in shares) at Jan. 02, 2015		32,000,000
Balance at Jan. 02, 2015	1,080	$ 0	(229)	1,138	17	154
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	127					127
Foreign currency translation adjustments	(6)				(6)
Amounts related to share-based compensation (in shares)		1,000,000
Amounts related to share-based compensation	13	$ 0		13
Repurchase of common stock (in shares)		(3,000,000)
Repurchase of common stock	(201)		(201)
Dividends	(33)					(33)
Ending Balance (in shares) at Jan. 01, 2016		30,000,000
Ending Balance at Jan. 01, 2016	978	$ 0	(430)	1,151	11	246
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	122					122
Foreign currency translation adjustments	(6)				(6)
Amounts related to share-based compensation (in shares)		0
Amounts related to share-based compensation	12	$ 0		12
Repurchase of common stock (in shares)		(3,000,000)
Repurchase of common stock	(178)		(178)
Dividends	(34)					(34)
Employee stock plan issuance (in shares)		0
Employee stock plan issuance	$ 1		1	0
Ending Balance (in shares) at Dec. 30, 2016	26,990,306	27,000,000
Ending Balance at Dec. 30, 2016	$ 895	$ 0	$ (607)	1,163	5	334
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	235					235
Foreign currency translation adjustments	12				12
Amounts related to share-based compensation (in shares)		0
Amounts related to share-based compensation	5	$ 0		5
Repurchase of common stock (in shares)		(1,000,000)	(767,876)
Repurchase of common stock	(88)		$ (88)
Dividends	(40)					(40)
Equity component of convertible notes, net of issuance costs	33			33
Purchase of convertible note hedges	(33)			(33)
Issuance of warrants	20			20
Employee stock plan issuance (in shares)		0
Employee stock plan issuance	$ 2		1	1
Ending Balance (in shares) at Dec. 31, 2017	26,461,296	26,000,000
Ending Balance at Dec. 31, 2017	$ 1,041	$ 0	$ (694)	$ 1,189	$ 17	$ 529

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Our Business Marriott Vacations Worldwide Corporation (“we,” “us,” “Marriott Vacations Worldwide,” or the “Company,” 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. In 2016, we introduced Marriott Vacation Club Pulse, an extension to the Marriott Vacation Club brand. 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”), provides on-site management for Ritz-Carlton branded properties. Our business is grouped into three reportable segments: North America, Asia Pacific and Europe. As of December 31, 2017 , our portfolio consisted of over 65 properties in the United States and nine other countries and territories. We generate most of our revenues from four primary sources: selling vacation ownership products; managing our resorts; financing consumer purchases of vacation ownership products; and renting vacation ownership inventory. Our Spin-Off from Marriott International On November 21, 2011, the spin-off of Marriott Vacations Worldwide from Marriott International (the “Spin-Off”) was completed pursuant to a Separation and Distribution Agreement (the “Separation and Distribution Agreement”) between Marriott Vacations Worldwide and Marriott International. 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 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 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 Consolidated Financial Statements as our “Financial Statements,” (ii) our Consolidated Statements of Income as our “Income Statements,” (iii) our Consolidated Balance Sheets as our “Balance Sheets,” and (iv) our 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 Consolidated Financial Statements, unless otherwise noted. We use certain other terms that are defined within these Financial Statements. We adopted Accounting Standards Update (“ASU”) 2014-09 “ Revenue from Contracts with Customers (Topic 606), ” as amended (“ASU 2014-09”), effective January 1, 2018, the first day of our 2018 fiscal year, and refer to it as the new “Revenue Standard” throughout these Financial Statements. We have restated our previously reported historical results within these Financial Statements to conform with the adoption of the new Revenue Standard. See “ New Accounting Standards ” below for additional information on ASU 2014-09 and Footnote 17 “Adoption Impact of New Revenue Standard” for further discussion of the adoption and the impact on our previously reported historical results. Unless otherwise specified, each reference to a particular year in these Financial Statements means the fiscal year ended on the date shown in the following table, rather than the corresponding calendar year. Beginning with our 2017 fiscal year, we changed our financial reporting cycle to a calendar year-end and end-of-month quarterly reporting cycle. Accordingly our 2017 fiscal year began on December 31, 2016 (the day after the end of the 2016 fiscal year) and ended on December 31, 2017. Our future fiscal years will begin on January 1 and end on December 31. As a result of the change in our financial reporting cycle, our 2017 fiscal year had two more days of activity than our 2016 and 2015 fiscal years. We have not restated, and do not plan to restate, historical results for this change. Fiscal Year Fiscal Year-End Date Number of Days 2017 December 31, 2017 366 2016 December 30, 2016 364 2015 January 1, 2016 364 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, 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 2017 presentation. Revenue Recognition Sale of Vacation Ownership Products We market and sell vacation ownership products in our three reportable segments. Vacation ownership products include deeded vacation ownership products, deeded beneficial interests, rights to use real estate, and other interests in trusts that solely hold real estate and deeded whole ownership units in residential buildings (collectively “vacation ownership products”). Vacation ownership products may be sold for cash or we may provide financing. In connection with the sale of vacation ownership products, we provide sales incentives to certain purchasers. Non-cash incentives typically include Marriott Rewards points or an alternative sales incentive that we refer to as “plus points.” Plus points are redeemable for stays at our resorts or for use in an exclusive selection of travel packages provided by affiliate tour operators (the “Explorer Collection”), generally up to two years from the date of issuance. Typically, sales incentives are only awarded if the sale is closed. Upon execution of a legal sales agreement, we typically receive an upfront deposit from our customer with the remainder of the purchase price for the vacation ownership product to either be collected at closing (“cash contract”) or financed by the customer through our financing programs (“financed contract”). Refer to “ Financing Revenues ” below for further information regarding financing terms. Customer deposits received for contracts are recorded as Advance deposits on our Balance Sheets until the point in time at which control of the vacation ownership product has transferred to the customer. Our assessment of collectibility of the transaction price for sales of vacation ownership products is aligned with our credit granting policies for financed contracts. We compared the lending terms against the terms of similar notes in the market and concluded that certain contracts within our Asia Pacific and Europe segments contain below market interest rates and as such have adjusted the transaction price for these contracts to reflect a market rate of interest. The lending terms of financed contracts within our North America segment reflect market terms. In determining the consideration to which we expect to be entitled for financed contracts, we include estimated variable consideration in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on the customer class and the results of our static pool analysis, which relies on historical payment data by customer class. Variable consideration which has not been included within the transaction price is presented as a reserve on vacation ownership notes receivable. In addition, we account for cash incentives provided to customers as a reduction of the transaction price. Refer to “ Arrangements with Multiple Performance Obligations ” below for a description of our methods of allocating transaction price to each performance obligation. We recognize revenue on the sale of vacation ownership products at closing, when control is transferred to the customer. We evaluated our business practices, and the underlying risks and rewards associated with vacation ownership products, and the respective timing that such risk and rewards are transferred to the customer in determining the point in time at which control of the vacation ownership product is transferred to the customer. Revenue for non-cash incentives, such as plus points, is recorded as Deferred revenue on our Balance Sheets at closing and is recognized as rental revenue upon transfer of control to the customer, which typically occurs upon delivery of the incentive, or at the point in time when the incentive is redeemed. For non-cash incentives provided by third parties (i.e. Marriott Rewards points or third-party Explorer Collection offerings), we evaluated whether we control the underlying good or service prior to delivery to the customer. We concluded that we are an agent for those non-cash incentives for which we do not control prior to delivery and as such record the related revenue net of the related cost upon recognition. Revenues recognized during 2017 were reduced by $9 million as a result of changes in our estimate of variable consideration for performance obligations satisfied in prior periods. Resort Management and Other Services Revenues and Cost Reimbursements Revenues Ancillary Revenues Ancillary revenues consist of goods and services that are sold or provided by us at food and beverage outlets, golf courses and other retail and service outlets located at our resorts. Payments for such goods and services are generally received at the point of sale in the form of cash or credit card charges. For goods and services sold, we evaluated whether we control the underlying goods or services prior to delivery to the customer. For transactions where we do not control the goods or services prior to delivery, the related revenue is recorded net of the related cost upon recognition. We recognize ancillary revenue at the point in time when goods have been provided and/or services have been rendered. Management Fee Revenues and Cost Reimbursements Revenues We provide day-to-day-management services, including housekeeping services, operation of reservation systems, maintenance and certain accounting and administrative services for property owners’ associations. We generate revenue from fees we earn for managing each of our resorts. These fees are earned regardless of usage or occupancy and are typically based on either a percentage of the budgeted costs to operate the resorts or a fixed fee arrangement (“Management fee revenues”) and reimbursement of costs incurred on behalf of the property owners’ associations (“Cost reimbursements revenues”). Cost reimbursements revenues exclude amounts that we have paid to the property owners’ associations related to maintenance fees for unsold vacation ownership products, as we have concluded that such payments are consideration payable to a customer. Cost reimbursements consist of actual expenses with no added margin. Management fees are collected over time or upfront depending upon the specific management contract. Cost reimbursements are received over time and considered variable consideration. We have determined that a significant financing component does not exist as a substantial amount of the consideration promised by the customer is variable. We evaluated the nature of the services provided to property owners’ associations and concluded that the management services constitute a series of distinct services to be accounted for as a single performance obligation transferred over time. We use an input method, the number of days that management services are provided, to recognize management fee revenues, which is consistent with the pattern of transfer to the property owners’ associations who receive and consume the benefits as services are provided each day. Any consideration we receive in advance of services being rendered is recorded as Deferred revenue on our Balance Sheets and is recognized ratably across the service period to which it relates. We recognize variable consideration for Cost reimbursements revenues when the reimbursable costs are incurred. Other Services Revenues Other services revenues include additional fees for services we provide to owners and property owners’ associations. We receive club dues for exchange services as well as certain transaction-based fees from owners and other third parties, including external exchange service providers with which we are associated. Club dues are received in advance of providing access to the exchange services, are recorded as Deferred revenue on our Balance Sheets and are earned regardless of whether exchange services are provided. Transaction-based fees from owners are typically received at the time of the transaction and transaction-based fees from other third parties are typically received at a point in time. We have determined that exchange services constitute a stand-ready obligation for us to provide unlimited access to exchange services over a defined period of time, when and if a customer (or customer of a customer) requests. We have determined that customers benefit from the stand-ready obligation evenly throughout the period in which the customer has access to exchange services and as such, recognize club dues on a straight-line basis over the related period of time. Transaction-based fees are recognized as revenue at the point in time at which the relevant goods or services are transferred to the customer. For transaction-based fees, we evaluated whether we control the underlying goods or services prior to delivery to the customer. For transactions where we do not control the goods or services prior to delivery, the related revenue is recorded net of the related cost upon recognition. Financing Revenues We offer consumer financing as an option to qualifying customers purchasing vacation ownership products, which is collateralized by the underlying vacation ownership products. We recognize interest income on an accrual basis. The contractual terms of the financing agreements require that the contractual level of annual principal payments be sufficient to amortize the loan over a customary period for the vacation ownership product being financed, which is generally ten years. Generally, payments commence under the financing contracts 30 to 60 days after closing. We record the difference between the vacation ownership note receivable and the variable consideration included in the transaction price for the sale of the related vacation ownership product as a reserve on our vacation ownership notes receivable. Revisions to estimates of variable consideration from the sale of vacation ownership products impact the reserve and can increase or decrease revenue. We earn interest income from the financing arrangements on the principal balance outstanding over the life of the arrangement and record that interest income in Financing revenues on our Income Statements. Financing revenues include certain annual and transaction-based fees we charge to owners and other third parties for services. We recognize fee revenues when services have been rendered. Rental Revenues We generate revenue from rentals of inventory that we hold for sale as interests in our vacation ownership programs or inventory that we control because our owners have elected alternative usage options permitted under our vacation ownership programs. We receive payments for rentals primarily through credit card charges. We recognize rental revenues when occupancy has occurred, which is consistent with the period for which the customer benefits from such service. We recognize rental revenue from the utilization of plus points issued in connection with the sale of vacation ownership products as described in “ Sale of Vacation Ownership Products ” above. We also generate revenues from vacation packages sold to our customers. Payments received in advance are recorded as Advance deposits on our Balance Sheets, until the revenue is recognized. Payments for such packages are non-refundable, generally paid by the customer in advance and have an expiration period of six to twenty-four months, and revenue is recognized upon completion of the customer’s stay. For rental revenues associated with vacation ownership products which we own and which are registered for sale, to the extent that the proceeds are less than costs, revenues are reported net in accordance with ASC Topic 978, “ Real Estate – Time-Sharing Activities .” Arrangements with Multiple Performance Obligations Our contracts with customers may include multiple performance obligations. For such arrangements, we allocate revenue to each performance obligation based on its relative standalone selling price. In cases where the standalone selling price is not readily available, we generally determine the standalone selling prices utilizing the adjusted market approach, using prices from similar contracts, our historical pricing on similar contracts, our internal marketing and selling data and other internal and external inputs we deem to be appropriate. Significant judgment is required in determining the standalone selling price under the adjusted market approach. Receivables, Contract Assets & Contract Liabilities As discussed above, the payment terms and conditions in our customer contracts vary. In some cases, customers prepay for their goods and services; in other cases, after appropriate credit evaluations, payment is due in arrears. When the timing of our delivery of goods and services is different from the timing of the payments made by customers, we recognize either a contract asset (performance precedes contractual due date) or a contract liability (customer payment precedes performance or when we have a right to consideration that is unconditional before the transfer of goods or services to a customer). Receivables are recorded when the right to consideration becomes unconditional. Contract liabilities are recognized as revenue as (or when) we perform under the contract. Inventory Our inventory consists primarily of completed vacation ownership products, vacation ownership products under construction and land held for future vacation ownership product development. We carry our inventory at the lower of (1) cost, including costs of improvements and amenities incurred subsequent to acquisition, capitalized interest and real estate taxes plus other costs incurred during construction, or (2) estimated fair value, less costs to sell, which can result in impairment charges and/or recoveries of previous impairments. We account for vacation ownership inventory and cost of vacation ownership products in accordance with the authoritative guidance for accounting for real estate time-sharing transactions, which defines a specific application of the relative sales value method for reducing vacation ownership inventory and recording cost of sales as described in our policy for revenue recognition for vacation ownership products. Also, pursuant to the guidance for accounting for real estate time-sharing transactions, we do not reduce inventory for cost of vacation ownership products related to anticipated credit losses (accordingly, no adjustment is made when inventory is reacquired upon default of the related receivable). These standards provide for changes in estimates within the relative sales value calculations to be accounted for as real estate inventory true-ups, which we refer to as product cost true-up activity, and are recorded in Cost of vacation ownership product expenses on the Income Statements to retrospectively adjust the margin previously recorded subject to those estimates. For 2017 , 2016 and 2015 , product cost true-up activity relating to vacation ownership products increased carrying values of inventory by less than $1 million , $15 million and $7 million , respectively. For residential real estate projects, we allocate costs to individual residences in the projects based on the relative estimated sales value of each residence in accordance with Accounting Standards Codification (“ASC”) 970, “ Real Estate—General ,” which defines the accounting for costs of real estate projects. Under this method, we reduce the allocated cost of a unit from inventory and recognize that cost as cost of sales when we recognize the related sale. Changes in estimates within the relative sales value calculations for residential products (similar to condominiums) are accounted for as prospective adjustments to cost of vacation ownership products. Capitalization of Costs We capitalize costs clearly associated with the acquisition of real estate when a transaction is accounted for as an asset acquisition under ASC 805, “ Business Combinations ” (“ASC 805”) . Alternatively, when acquired real estate constitutes a business under ASC 805, transaction costs are expensed as incurred. We capitalize interest and certain salaries and related costs incurred in connection with the following: (1) development and construction of sales centers; (2) internally developed software; and (3) development and construction projects for our real estate inventory. We capitalize costs clearly associated with the development and construction of a real estate project when it is probable that we will acquire a property. We capitalize salary and related costs only to the extent they directly relate to the project. We capitalize interest expense, taxes and insurance costs when activities that are necessary to get the property ready for its intended use are underway. We cease capitalization of costs during prolonged gaps in development when substantially all activities are suspended or when projects are considered substantially complete. Capitalized salaries and related costs totaled $6 million , $6 million and $7 million for 2017 , 2016 and 2015 , respectively. Defined Contribution Plan We administer and maintain a defined contribution plan for the benefit of all employees meeting certain eligibility requirements who elect to participate in the plan. Contributions are determined based on a specified percentage of salary deferrals by participating employees. We recognized compensation expense (net of cost reimbursements from property owners’ associations) for our participating employees totaling $10 million in 2017 , $8 million in 2016 and $7 million in 2015 . Deferred Compensation Plan Prior to the Spin-Off, certain members of our senior management had the opportunity to participate in the Marriott International, Inc. Executive Deferred Compensation Plan (the “Marriott International EDC”), which Marriott International maintains and administers. Under the Marriott International EDC, participating employees were able to defer payment and income taxation of a portion of their salary and bonus. Participants also had the opportunity for long-term capital appreciation by crediting their accounts with notional earnings (at a fixed annual rate of return of 4.0 percent for 2017 and 4.5 percent for 2016 ). Although additional discretionary contributions to the participants’ accounts under the Marriott International EDC may be made, no additional discretionary contributions were made for our employees in 2017 , 2016 and 2015 . Subsequent to the Spin-Off, we remain liable to reimburse Marriott International for distributions for participants that were employees of Marriott Vacations Worldwide at the time of the Spin-Off including earnings thereon. Since 2014, certain members of our senior management have had the opportunity to participate in the Marriott Vacations Worldwide Deferred Compensation Plan (the “Deferred Compensation Plan”), which we maintain and administer. Under the Deferred Compensation Plan, participating employees may defer payment and income taxation of a portion of their salary and bonus. It also gives participants the opportunity for long-term capital appreciation by crediting their accounts with notional earnings. Since the beginning of our 2017 fiscal year, participants in the Deferred Compensation Plan have been able to select a rate of return based on various market-based investment alternatives for a portion of their contributions, as well as any future Company contributions, to the Deferred Compensation Plan, and may also select such a rate for a portion of their existing account balances. To support our ability to meet a portion of our obligations under the Deferred Compensation Plan, we acquired company owned insurance policies (the “COLI policies”) on the lives of certain participants in the Deferred Compensation Plan, the proceeds of which are intended to be aligned with the investment alternatives elected by plan participants and are payable to a rabbi trust with the Company as grantor. For 2017, at least 25 percent of a participant’s contributions to the Deferred Compensation Plan was required to be subject to a fixed rate of return, which was 3.5 percent for 2017 and 5.6 percent for 2016 ; the rate was reduced in connection with the introduction of the market-based investment alternatives. For 2018, participants may select a rate of return based on market-based investment alternatives for up to 100 percent of their contributions and existing balances. We consolidate the liabilities of the Deferred Compensation Plan and the related assets, which consist of the COLI policies held in the rabbi trust. The rabbi trust is considered a variable interest entity (“VIE”). We are considered the primary beneficiary of the rabbi trust because we direct the activities of the trust and are the beneficiary of the trust. At December 31, 2017 , the value of the assets held in the rabbi trust was $14 million , which is included in the Other line within assets on our Balance Sheets. Property and Equipment Property and equipment includes our sales centers, golf courses, information technology and other assets used in the normal course of business, as well as undeveloped and partially developed land parcels that are not part of an approved development plan and do not meet the criteria to be classified as held for sale. In addition, fully developed vacation ownership interests are classified as property and equipment until they are registered for sale. We record property and equipment at cost, including interest and real estate taxes incurred during active development. We capitalize the cost of improvements that extend the useful life of property and equipment when incurred. These capitalized costs may include structural costs, equipment, fixtures, floor and decorative items and signage. We expense all repair and maintenance costs as incurred. We compute depreciation using the straight-line method over the estimated useful lives of the assets ( three to forty years), and we amortize leasehold improvements over the shorter of the asset life or lease term. Cash and Cash Equivalents We consider all highly liquid investments with an initial purchase maturity of three months or less at the date of purchase to be cash equivalents. Restricted Cash Restricted cash primarily consists of cash held in a reserve account related to vacation ownership notes receivable securitizations, cash collected for maintenance fees to be remitted to property owners’ associations, and deposits received, primarily associated with vacation ownership products and residential sales that are held in escrow until the associated contract has closed or the period in which it can be rescinded has passed, depending on legal requirements. Loan Loss Reserves We record the difference between the vacation ownership note receivable and the variable consideration included in the transaction price for the sale of the related vacation ownership product as a reserve on our vacation ownership notes receivable. See “ Financing Revenues ” above for further information. 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 and fully reserve such amounts. 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 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 Asia Pacific or Europe, when revocation is complete. For both non-securitized and securitized vacation ownership notes receivable, we estimated average remaining default rates of 7.16 percent and 7.09 percent as of December 31, 2017 and December 30, 2016 , respectively. A 0.5 percent age point increase in the estimated default rate would have resulted in an increase in our vacation ownership notes receivable reserve of $6 million and $5 million as of December 31, 2017 and December 30, 2016 , respectively. For additional information on our vacation ownership notes receivable, including information on the related reserves, see Footnote 4 “Vacation Ownership Notes Receivable.” 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. Costs Incurred to Sell Vacation Ownership Products We charge marketing and sales costs we incur to sell vacation ownership products to expense when incurred. Valuation of Property and Equipment Property and equipment includes our sales centers, golf courses, operating properties, information technology and other assets used in the normal course of business, as well as undeveloped and partially developed land parcels that are not part of an approved development plan and do not meet the criteria to be classified as held for sale. We test long-lived asset groups for recoverability when changes in circumstances indicate the carrying value may not be recoverable, for example, when there are material adverse changes in projected revenues or expenses, significant underperformance relative to historical or projected operating results, or significant negative industry or economic trends. We evaluate recoverability of an asset group by comparing its carrying value to the future net undiscounted cash flows that we expect will be generated by the asset group. If the comparison indicates that the carrying value of an asset group is not recoverable, we recognize an impairment loss for the excess of carrying value over the estimated fair value. When we recognize an impairment loss for assets to be held and used, we depreciate the adjusted carrying amount of those assets over their remaining useful life. Fair Value Measurements We have few financial instruments that we must measure at fair value on a recurring

REVENUE

REVENUE	12 Months Ended
	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE We account for revenue in accordance with ASC 606, “ Revenue from Contracts with Customers ,” which we adopted on January 1, 2018, using the retrospective method. See Footnote 1 “Summary of Significant Accounting Policies” for additional information and Footnote 17 “Adoption of New Revenue Standard” for further discussion of the adoption and the impact on our previously reported historical results. We generate most of our revenues from four primary sources: selling vacation ownership products; managing our resorts; financing consumer purchases of vacation ownership products; and renting vacation ownership inventory. The following series of tables present our revenue disaggregated by several categories. Sources of Revenue by Segment 2017 ($ in millions) North America Asia Pacific Europe Total Sale of vacation ownership products $ 692 $ 42 $ 23 $ 757 Ancillary revenues 101 — 17 118 Management fee revenues 80 3 6 89 Other services revenues 69 1 2 72 Resort management and other services 250 4 25 279 Rental 232 10 20 262 Cost reimbursements 698 7 45 750 Revenue from contracts with customers $ 1,872 $ 63 $ 113 $ 2,048 Financing 128 4 3 135 Total Revenues $ 2,000 $ 67 $ 116 $ 2,183 2016 ($ in millions) North America Asia Pacific Europe Total Sale of vacation ownership products $ 559 $ 40 $ 24 $ 623 Ancillary revenues 102 6 16 124 Management fee revenues 76 2 6 84 Other services revenues 66 2 2 70 Resort management and other services 244 10 24 278 Rental 219 15 18 252 Cost reimbursements 670 5 45 720 Revenue from contracts with customers $ 1,692 $ 70 $ 111 $ 1,873 Financing 120 4 3 127 Total Revenues $ 1,812 $ 74 $ 114 $ 2,000 2015 ($ in millions) North America Asia Pacific Europe Total Sale of vacation ownership products $ 605 $ 58 $ 30 $ 693 Ancillary revenues 101 7 17 125 Management fee revenues 70 3 6 79 Other services revenues 61 2 2 65 Resort management and other services 232 12 25 269 Rental 227 14 19 260 Cost reimbursements 667 5 48 720 Revenue from contracts with customers $ 1,731 $ 89 $ 122 $ 1,942 Financing 117 4 4 125 Total Revenues $ 1,848 $ 93 $ 126 $ 2,067 Timing of Revenue from Contracts with Customers by Segment 2017 ($ in millions) North America Asia Pacific Europe Total Services transferred over time $ 815 $ 44 $ 40 $ 899 Goods or services transferred at a point in time 1,057 19 73 1,149 Revenue from contracts with customers $ 1,872 $ 63 $ 113 $ 2,048 2016 ($ in millions) North America Asia Pacific Europe Total Services transferred over time $ 681 $ 47 $ 41 $ 769 Goods or services transferred at a point in time 1,011 23 70 1,104 Revenue from contracts with customers $ 1,692 $ 70 $ 111 $ 1,873 2015 ($ in millions) North America Asia Pacific Europe Total Services transferred over time $ 728 $ 67 $ 48 $ 843 Goods or services transferred at a point in time 1,003 22 74 1,099 Revenue from contracts with customers $ 1,731 $ 89 $ 122 $ 1,942 Receivables, Contract Assets & Contract Liabilities The following table shows the composition of our receivables and contract liabilities. We had no contract assets at either December 31, 2017 or December 30, 2016. ($ in millions) At Year-End 2017 At Year End 2016 Receivables Accounts receivable $ 73 $ 55 Vacation ownership notes receivable, net 1,115 970 $ 1,188 $ 1,025 Contract Liabilities Advance deposits $ 84 $ 82 Deferred revenue 69 59 $ 153 $ 141 Revenue recognized in the year ended December 31, 2017 that was included in our contract liabilities balance at December 30, 2016 was $107 million . Remaining Performance Obligations Our remaining performance obligations represent the expected transaction price allocated to our contracts that we expect to recognize as revenue in future periods when we perform under the contracts. At December 31, 2017, over 90 percent of this amount is expected to be recognized as revenue over the next two years.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Tax Reform On December 22, 2017, the Tax Cuts and Jobs Act (the “Tax Act”) was signed into law effective January 1, 2018. The Tax Act significantly revised the U.S. tax code by, in part, but not limited to: reducing the U.S. corporate maximum tax rate from 35 percent to 21 percent, imposing a mandatory one-time transition tax on certain un-repatriated earnings of foreign subsidiaries, modifying executive compensation deduction limitations and repealing the deduction for domestic production activities. Under ASC Topic 740, “ Income Taxes ,” we must generally recognize the effects of tax law changes in the period in which the new legislation is enacted. During December 2017, the Securities and Exchange Commission staff issued Staff Accounting Bulletin (“SAB”) No. 118 (“SAB 118”) to address the application of GAAP in situations when a registrant does not have all the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the Tax Cuts and Jobs Act. In accordance with SAB 118, our deferred tax assets and liabilities were remeasured using the new corporate tax rate of 21 percent, rather than the previous corporate tax rate of 35 percent, resulting in a $65 million decrease in our income tax expense for the year ended December 31, 2017 and a corresponding $65 million decrease in our net deferred tax liability as of December 31, 2017. These amounts are to be considered provisional and are not currently able to be finalized given the complexity of the underlying calculations. Additional work is necessary to perform a more detailed analysis. Any subsequent adjustment to these amounts will be recorded to tax expense in the quarter of 2018 when the analysis is complete. The one-time transition tax on certain un-repatriated earnings of foreign subsidiaries is based on total post-1986 earnings and profits that we previously deferred from U.S. income taxes. While we have performed a preliminary analysis of the transition tax and determined that due to deficits in foreign earnings and profits, we do not have a one-time transition tax liability to record in 2017, we have not completed our calculations. As the one-time transition tax is based in part on the amount of those earnings held in cash and other specified assets, we may determine that we have a one-time transition tax liability when we finalize the calculation of post-1986 foreign earnings and profits previously deferred from U.S. federal taxation and finalize the amounts held in cash or other specified assets. No additional income taxes have been provided for any remaining undistributed foreign earnings not subject to the transition tax, or any additional outside basis difference inherent in these entities, as these amounts continue to be indefinitely reinvested in foreign operations. The modification of the executive compensation deduction limitations and the repeal of the deduction for domestic production activities did not have a significant impact on our benefit from income taxes for the year ended December 31, 2017. Income Tax Provision The components of our earnings before income taxes for the last three years consisted of: ($ in millions) 2017 2016 2015 United States $ 232 $ 195 $ 205 Non-U.S. jurisdictions 8 3 9 $ 240 $ 198 $ 214 In 2017, our tax provision included an excess tax benefit of $6 million related to the vesting or exercise of employee share-based awards. Our tax provision did not reflect excess tax benefits of $1 million in 2016 and $9 million in 2015, as these periods were before our adoption of ASU 2016-09. In our statements of cash flows, we presented excess tax benefits as financing cash flows before our adoption of ASU 2016-09. Our provision for income taxes for the last three years consisted of: ($ in millions) 2017 2016 2015 Current – U.S. Federal $ (49 ) $ (35 ) $ (45 ) – U.S. State (7 ) (5 ) (4 ) – Non-U.S. (7 ) (5 ) (7 ) (63 ) (45 ) (56 ) Deferred – U.S. Federal 44 (30 ) (28 ) – U.S. State (1 ) (2 ) (5 ) – Non-U.S. 15 1 2 58 (31 ) (31 ) $ (5 ) $ (76 ) $ (87 ) The deferred tax assets and related valuation allowances in these Financial Statements have been determined on a separate return basis. The assessment of the valuation allowances requires considerable judgment on the part of management with respect to benefits that could be realized from future taxable income, as well as other positive and negative factors. Valuation allowances are recorded against the deferred tax assets of certain foreign operations for which historical losses, restructuring and impairment charges have been incurred. The change in the valuation allowances established were ($4) million in 2017 , $2 million in 2016 and ($4) million in 2015 . We have made no provision for U.S. income taxes or additional non-U.S. taxes on the cumulative unremitted earnings of non-U.S. subsidiaries ( $184 million at December 31, 2017 ) because we consider these earnings to be permanently invested. We do not consider previously taxed income to be permanently reinvested if such earnings can be distributed to a U.S. entity without incurring additional U.S. tax. These earnings could become subject to additional taxes if remitted as dividends, loaned to a U.S. affiliate or if we sold our interests in the affiliates. We cannot estimate the amount of additional taxes that might be payable on the unremitted earnings. We conduct business in countries that grant “holidays” from income taxes for ten to thirty year periods. These holidays expire through 2034. Our income tax returns are subject to examination by relevant tax authorities. Certain of our returns are being audited in various jurisdictions for years 2013 and 2014. 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 audits in these jurisdictions. Deferred Income Taxes Deferred income tax balances reflect the effects of temporary differences between the carrying amounts of assets and liabilities and their tax bases, as well as from net operating loss and tax credit carry-forwards. We state those balances at the enacted tax rates we expect will be in effect when we actually pay or recover taxes. Deferred income tax assets represent amounts available to reduce income taxes we will pay on taxable income in future years. We evaluate our ability to realize these future tax deductions and credits by assessing whether we expect to have sufficient future taxable income from all sources, including reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies, to utilize these future deductions and credits. We establish a valuation allowance when we no longer consider it more likely than not that a deferred tax asset will be realized. The following table presents our deferred tax assets and liabilities, and the tax effect of each type of temporary difference and carry-forward that gave rise to a significant portion of our deferred tax assets and liabilities at December 31, 2017 and December 30, 2016 : ($ in millions) At Year-End 2017 At Year-End 2016 Deferred Tax Assets Inventory $ 25 $ 25 Reserves 30 39 Long lived intangible assets 16 31 Net operating loss carry-forwards 39 49 Tax credits 39 21 Other, net 44 40 Deferred tax assets 193 205 Less valuation allowance (44 ) (48 ) Net deferred tax assets 149 157 Deferred Tax Liabilities Property and equipment (16 ) (16 ) Deferred sales of vacation ownership interests (210 ) (277 ) Deferred tax liabilities (226 ) (293 ) Total net deferred tax liabilities $ (77 ) $ (136 ) At December 31, 2017 , we had approximately $37 million of foreign net operating losses (excluding valuation allowances) some of which begin expiring in 2018. However, a significant portion of these tax net operating losses have an indefinite carry forward period. We have no federal net operating losses and net operating losses of $1 million for state tax purposes which begin expiring in 2032. Reconciliation of U.S. Federal Statutory Income Tax Rate to Actual Income Tax Rate Due to the adoption of ASU 2016-09 in the 2017 first quarter, all excess tax benefits and deficiencies are now recognized as a component of income tax expense in our Income Statements; previously, excess tax benefits were recognized in additional paid-in capital. This may result in increased volatility in our effective tax rate. The following table reconciles the U.S. statutory income tax rate to our effective income tax rate: 2017 2016 2015 U.S. statutory income tax rate 35.00% 35.00% 35.00% U.S. state income taxes, net of U.S. federal tax benefit 2.50 2.47 2.64 Permanent differences (1) (0.58) 1.16 1.61 Impact related to the Tax Cuts and Jobs Act (27.12) — — Excess tax benefits related to share-based compensation (2.54) — — Foreign tax rate changes (2.01) 0.05 0.01 Non-U.S. (loss) income (2) (2.61) 0.08 (0.57) Other items (3) (0.79) (1.06) 1.14 Change in valuation allowance (4) 0.03 0.78 0.72 Effective rate 1.88% 38.48% 40.55% _________________________ (1) Attributed to the redemption of the mandatorily redeemable preferred stock of a consolidated subsidiary. (2) Attributed to the difference between U.S. and foreign income tax rates and other foreign adjustments. (3) Attributed to changes in unrecognized tax benefits and U.S. federal tax incentives. (4) Primarily attributed to release of a foreign valuation allowance in 2017. Primarily attributed to the establishment of valuation allowances in foreign jurisdictions for losses that cannot be benefited in the U.S. income tax provision in 2016 and 2015, as discussed above. Cash Taxes Paid Cash taxes paid in 2017 , 2016 and 2015 were $49 million , $48 million and $50 million , respectively.

VACATION OWNERSHIP NOTES RECEIV

VACATION OWNERSHIP NOTES RECEIVABLE	12 Months Ended
	Dec. 31, 2017
Receivables [Abstract]
VACATION OWNERSHIP NOTES RECEIVABLE	VACATION OWNERSHIP NOTES RECEIVABLE The following table shows the composition of our vacation ownership notes receivable balances, net of reserves: ($ in millions) At Year-End 2017 At Year-End 2016 Vacation ownership notes receivable — securitized $ 814 $ 717 Vacation ownership notes receivable — non-securitized Eligible for securitization (1) 142 98 Not eligible for securitization (1) 159 155 Subtotal 301 253 Total vacation ownership notes receivable $ 1,115 $ 970 _________________________ (1) Refer to Footnote 5 “Financial Instruments” for discussion of eligibility of our vacation ownership notes receivable for securitization. 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 December 31, 2017 : ($ in millions) Non-Securitized Vacation Ownership Notes Receivable Securitized Vacation Ownership Notes Receivable Total 2018 $ 48 $ 94 $ 142 2019 35 91 126 2020 30 92 122 2021 26 93 119 2022 24 92 116 Thereafter 138 352 490 Balance at year-end 2017 $ 301 $ 814 $ 1,115 Weighted average stated interest rate at year-end 2017 11.5% 12.6% 12.3% Range of stated interest rates at year-end 2017 0.0% to 18.0% 4.9% to 18.0% 0.0% to 18.0% We reflect interest income associated with vacation ownership notes receivable in our Income Statements in the Financing revenues caption. The following table summarizes interest income associated with vacation ownership notes receivable: ($ in millions) 2017 2016 2015 Interest income associated with vacation ownership notes receivable – securitized $ 101 $ 97 $ 90 Interest income associated with vacation ownership notes receivable – non-securitized 27 23 28 Total interest income associated with vacation ownership notes receivable $ 128 $ 120 $ 118 We record the difference between the vacation ownership note receivable and the variable consideration included in the transaction price for the sale of the related vacation ownership product as a reserve on our vacation ownership notes receivable. See “ Financing Revenues ” in Footnote 1 “Summary of Significant Accounting Policies” for further information. The following table summarizes the activity related to our vacation ownership notes receivable reserve: ($ in millions) Non-Securitized Securitized Total Balance at year-end 2014 $ 65 $ 53 $ 118 Impact of adoption of ASU 2014-09 1 1 2 Opening balance 2015 66 54 120 Increase in vacation ownership notes receivable reserve 25 11 36 Securitizations (16 ) 16 — Clean-up calls (1) 7 (7 ) — Write-offs (48 ) — (48 ) Defaulted vacation ownership notes receivable repurchase activity (2) 25 (25 ) — Balance at year-end 2015 59 49 108 Increase in vacation ownership notes receivable reserve 27 17 44 Securitizations (28 ) 28 — Clean-up of Warehouse Credit Facility (3) 10 (10 ) — Write-offs (40 ) — (40 ) Defaulted vacation ownership notes receivable repurchase activity (2) 30 (30 ) — Balance at year-end 2016 58 54 112 Increase in vacation ownership notes receivable reserve 42 10 52 Securitizations (29 ) 29 — Clean-up of Warehouse Credit Facility (3) 4 (4 ) — Write-offs (45 ) — (45 ) Defaulted vacation ownership notes receivable repurchase activity (2) 28 (28 ) — Balance at year-end 2017 $ 58 $ 61 $ 119 _________________________ (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 defaulted securitized vacation ownership notes receivable. (3) Refers to our voluntary repurchase of previously securitized non-defaulted vacation ownership notes receivable from our Warehouse Credit Facility. 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. As noted in Footnote 1 “Summary of Significant Accounting Policies” we recognize interest income on a cash basis for these vacation ownership notes receivable. ($ in millions) Non-Securitized Vacation Ownership Notes Receivable Securitized Vacation Ownership Notes Receivable Total Investment in vacation ownership notes receivable on non-accrual status at year-end 2017 $ 39 $ 7 $ 46 Investment in vacation ownership notes receivable on non-accrual status at year-end 2016 $ 44 $ 6 $ 50 Average investment in vacation ownership notes receivable on non-accrual status during 2017 $ 41 $ 7 $ 48 The following table shows the aging of the recorded investment in principal, before reserves, in vacation ownership notes receivable as of December 31, 2017 : ($ in millions) Non-Securitized Vacation Ownership Notes Receivable Securitized Vacation Ownership Notes Receivable Total 31 – 90 days past due $ 7 $ 19 $ 26 91 – 150 days past due 5 7 12 Greater than 150 days past due 34 — 34 Total past due 46 26 72 Current 313 849 1,162 Total vacation ownership notes receivable $ 359 $ 875 $ 1,234 The following table shows the aging of the recorded investment in principal, before reserves, in vacation ownership notes receivable as of December 30, 2016 : ($ in millions) Non-Securitized Securitized Total 31 – 90 days past due $ 8 $ 16 $ 24 91 – 150 days past due 4 7 11 Greater than 150 days past due 40 — 40 Total past due 52 23 75 Current 259 748 1,007 Total vacation ownership notes receivable $ 311 $ 771 $ 1,082

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2017
Investments, All Other Investments [Abstract]
FINANCIAL INSTRUMENTS	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 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 Year-End 2017 At Year-End 2016 ($ in millions) Carrying Fair (1) Carrying Fair (1) Vacation ownership notes receivable — securitized $ 814 $ 955 $ 717 $ 834 Vacation ownership notes receivable — non-securitized 301 321 253 267 Other assets 14 14 — — Total financial assets $ 1,129 $ 1,290 $ 970 $ 1,101 Non-recourse debt associated with vacation ownership notes receivable securitizations, net $ (835 ) $ (836 ) $ (729 ) $ (726 ) Convertible notes, net (192 ) (260 ) — — Non-interest bearing note payable, net (61 ) (61 ) — — Total financial liabilities $ (1,088 ) $ (1,157 ) $ (729 ) $ (726 ) _________________________ (1) Fair value of financial instruments, with the exception of other assets and convertible notes, has been determined using Level 3 inputs. Fair value of other assets and convertible notes that are financial instruments has been determined using Level 2 inputs. See “ Fair Value Measurements ” in Footnote 1 “Summary of Significant Accounting Policies” for additional information. 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 Asia or Europe. 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 Year-End 2017 At Year-End 2016 ($ in millions) Carrying Amount Fair Carrying Amount Fair Vacation ownership notes receivable Eligible for securitization $ 142 $ 162 $ 98 $ 112 Not eligible for securitization 159 159 155 155 Total non-securitized $ 301 $ 321 $ 253 $ 267 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, discount rates and loan terms. Other Assets We estimate the fair value of our other assets that are financial instruments using Level 2 inputs. These assets consist of COLI policies held in a rabbi trust. The carrying value of the COLI policies is equal to their cash surrender value. 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. Convertible Notes We estimate the fair value of our Convertible Notes using quoted market prices as of the last trading day for the year; however these notes have only a limited trading history and volume and as such this fair value estimate is not necessarily indicative of the value at which they could be retired or transferred. We concluded that this fair value measurement should be categorized within Level 2. The difference between the carrying value and the fair value is primarily attributed to the underlying conversion feature, and the spread between the conversion price and the market value of the shares underlying the Convertible Notes. Non-Interest Bearing Note Payable The carrying value of our non-interest bearing note payable issued in connection with the acquisition of vacation ownership units located on the Big Island of Hawaii approximates fair value, because the imputed interest rate used to discount this note payable is consistent with current market rates. See Footnote 6 “Acquisitions and Dispositions” and Footnote 11 “Debt” for additional information on this transaction.

ACQUISITIONS AND DISPOSITIONS

ACQUISITIONS AND DISPOSITIONS	12 Months Ended
	Dec. 31, 2017
Business Combinations [Abstract]
ACQUISITIONS AND DISPOSITIONS	ACQUISITIONS AND DISPOSITIONS 2017 Acquisitions Bali, Indonesia During the 2017 third quarter, we acquired 51 completed vacation ownership units, as well as a sales gallery and related resort amenities, located in Bali, Indonesia for $24 million . The transaction was accounted for as an asset acquisition with the purchase price allocated to Inventory ( $22 million ) and Property and equipment ( $2 million ). Marco Island, Florida During the 2017 second quarter, we acquired 36 completed vacation ownership units located at our resort in Marco Island, Florida for $34 million . The transaction was accounted for as an asset acquisition with all of the purchase price allocated to Property and equipment. To ensure consistency with the expected related future cash flow presentation, the cash purchase price was included as an operating activity in the Purchase of vacation ownership units for future transfer to inventory line on our Cash Flow for the year ended December 31, 2017. See Footnote 10 “Contingencies and Commitments” for information on our remaining commitment related to this property. Big Island of Hawaii During the 2017 second quarter, we acquired 112 completed vacation ownership units located on the Big Island of Hawaii. The transaction was accounted for as an asset acquisition with all of the purchase price allocated to Inventory. As consideration for the acquisition, we paid $27 million in cash, settled a note receivable from the seller of less than $1 million on a non-cash basis, and issued a non-interest bearing note payable for $64 million . See Footnote 11 “Debt” for information on the non-interest bearing note payable. 2017 Dispositions We made no significant dispositions in 2017. 2016 Acquisitions Miami Beach, Florida During the 2016 first quarter, we completed the acquisition of an operating property located in the South Beach area of Miami Beach, Florida, for $24 million . The acquisition was treated as a business combination, accounted for using the acquisition method of accounting and included within operating activities on our Cash Flow for the year ended December 30, 2016. As consideration for the acquisition, we paid $24 million in cash; the value of the acquired property was allocated to Inventory. We rebranded this property as Marriott Vacation Club Pulse, South Beach and converted it, in its entirety, into vacation ownership inventory. 2016 Dispositions San Francisco, California During the 2016 second quarter, we disposed of 19 residential units, located at The Ritz-Carlton Club and Residences, San Francisco (the “RCC San Francisco”), for gross cash proceeds of $20 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 $11 million in the Gains and other income line on our Income Statement for the year ended December 30, 2016. 2016 Disposition / 2015 Acquisition Surfers Paradise, Australia During the 2015 third quarter, we completed the acquisition of an operating property located in Surfers Paradise, Australia, for AUD $85 million ( $62 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 were included in the “Other” line of our Income Statement for the year ended January 1, 2016. As consideration for the acquisition, we paid AUD $83 million ( $61 million ) in cash and assumed net liabilities of AUD $2 million ( $1 million ), which was allocated based on the fair value at the date of acquisition as follows: AUD $29 million ( $21 million ) to land, AUD $49 million ( $37 million ) to buildings and leasehold improvements and AUD $6 million ( $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. At the time of the acquisition we determined that we would convert a portion of this operating property into vacation ownership interests for future use in our Asia Pacific segment; the related portion of the purchase price was classified as an operating activity on our Cash Flow for the year ended January 1, 2016. Additionally, we intended to sell the remaining downsized portion of the operating property to a third party; the related portion of the purchase price was classified as an investing activity on our Cash Flow for the year ended January 1, 2016. During the 2016 second quarter, we disposed of the portion of this operating property that we did not intend to convert into vacation ownership inventory for gross cash proceeds of AUD $71 million ( $51 million ). We accounted for the sale under the full accrual method in accordance with the authoritative guidance on accounting for sales of real estate. As part of the disposition, we guaranteed the net operating income of this portion of the operating property through 2021 up to a specified maximum of AUD $3 million ( $2 million ), which was recorded as a deferred gain in the Other line within liabilities on our balance sheet. We recognized a loss, inclusive of the deferred gain, of AUD $1 million ( $1 million ) in connection with the sale, which was recorded in the Gains and other income line on the Income Statement for the year ended December 30, 2016. During 2016, we completed the conversion of the portion of this operating property that we intended to convert into vacation ownership inventory at the time of the acquisition, a portion of which was contributed to our points-based programs in our Asia Pacific segment. 2015 Acquisitions Washington, D.C. During the 2015 third quarter, we completed the acquisition of 71 units at The Mayflower Hotel, Autograph Collection, an operating hotel located in Washington, D.C., for $32 million . The asset acquisition was treated as a purchase of inventory and we have included these vacation ownership units, in their current form, in our MVCD program. San Diego, California During the 2015 first quarter, we completed the acquisition of an operating property located in San Diego, California, for $55 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 million in cash, which was allocated based on the fair value at the date of acquisition as follows: $54 million to property and equipment and $1 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 rebranded this property as Marriott Vacation Club Pulse, San Diego and converted it, in its entirety, into vacation ownership inventory. In order to ensure consistency with the expected related future cash flow presentation, $47 million of the cash purchase price allocated to property and equipment was included as an operating activity in the Purchase of operating property for future conversion to inventory line on our Cash Flow for the year ended January 1, 2016. The remaining $8 million was included as an investing activity in the Capital expenditures for property and equipment line on our Cash Flow for the year ended January 1, 2016, as it was allocated to assets to be used prior to conversion of the property into vacation ownership inventory, as well as ancillary and sales center assets to be retained after the conversion. 2015 Dispositions Kauai, Hawaii During the 2014 second quarter, we entered into a purchase and sale agreement to dispose of undeveloped and partially developed land, an operating golf course and related assets, in Kauai, Hawaii (the “Kauai Property”) for gross cash proceeds of $60 million , and completed the sale of a portion of the Kauai Property for gross cash proceeds of $40 million . During the 2015 second quarter, we completed the sale of the remaining portion of the Kauai Property for gross cash proceeds of $20 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 $9 million , which is included in the Gains and other income line on our Income Statement for the year ended January 1, 2016. Marco Island, Florida During the 2015 first quarter, we sold real property located in Marco Island, Florida, consisting of $3 million of vacation ownership inventory, to a third-party developer. We received consideration consisting of $5 million of cash and a note receivable of less than $1 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. See Footnote 14 “Variable Interest Entities” for additional information on our activities relating to the variable interest entity involved in this transaction.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2017
Earnings Per Share [Abstract]
EARNINGS PER SHARE	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. Our calculation of diluted earnings per share reflects our intent to settle conversions of the Convertible Notes through a combination settlement, which contemplates repayment in cash of the principal amount and repayment in shares of our common stock of any excess of the conversion value over the principal amount (the “conversion premium”). Therefore, we include only the shares that may be issued with respect to any conversion premium in total dilutive weighted average shares outstanding, which we calculate using the treasury stock method. As no conversion premium existed as of December 31, 2017 , there was no dilutive impact from the Convertible Notes for 2017 . The shares issuable on exercise of the Warrants (as defined in Footnote 11 “Debt”) sold in connection with the issuance of the Convertible Notes will not impact the total dilutive weighted average shares outstanding unless and until the price of our common stock exceeds the strike price of $176.68 , as described in Footnote 11 “Debt.” If and when the price of our common stock exceeds the strike price of the Warrants, we will include the dilutive effect of the additional shares that may be issued upon exercise of the Warrants in total dilutive weighted average shares outstanding, which we calculate using the treasury stock method. The Convertible Note Hedges (as defined in Footnote 11 “Debt”) purchased in connection with the issuance of the Convertible Notes are considered to be anti-dilutive and will not impact our calculation of 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. (in millions, except per share amounts) 2017 (1) 2016 (2) 2015 (3) Computation of Basic Earnings Per Share Net income $ 235 $ 122 $ 127 Shares for basic earnings per share 27.1 27.9 31.5 Basic earnings per share $ 8.70 $ 4.37 $ 4.04 Computation of Diluted Earnings Per Share Net income $ 235 $ 122 $ 127 Shares for basic earnings per share 27.1 27.9 31.5 Effect of dilutive shares outstanding Employee stock options and SARs 0.4 0.3 0.5 Restricted stock units 0.2 0.2 0.2 Shares for diluted earnings per share 27.7 28.4 32.2 Diluted earnings per share $ 8.49 $ 4.29 $ 3.95 _________________________ (1) The computations of diluted earnings per share exclude approximately 238,000 shares of common stock, the maximum number of shares issuable as of December 31, 2017 upon the vesting of certain performance-based awards, because the performance conditions required to be met 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 217,000 shares of common stock, the maximum number of shares issuable as of December 30, 2016 upon the vesting of certain performance-based awards, because the performance conditions required to be met for the shares subject to such awards to vest were not achieved by the end of the reporting period. (3) The computations of diluted earnings per share exclude approximately 136,000 shares of common stock, the maximum number of shares issuable as of January 1, 2016 upon the vesting of certain performance-based awards, because the performance conditions required to be met 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 year ended December 31, 2017 , our calculation of diluted earnings per share included shares underlying stock appreciation rights (“SARs”) that may be settled in shares of common stock, because the exercise prices of such SARs were less than or equal to the average market prices for the applicable period. For the year ended December 30, 2016 , we excluded from our calculation of diluted earnings per share 62,018 shares underlying SARs that may be settled in shares of common stock because the exercise price of $77.42 of such SARs was greater than the average market price for the applicable period. For the year ended January 1, 2016 , we excluded from our calculation of diluted earnings per share 62,018 shares underlying SARs that may be settled in shares of common stock because the exercise price of $77.42 of such SARs was greater than the average market prices for the applicable period.

INVENTORY

INVENTORY	12 Months Ended
	Dec. 31, 2017
Inventory Disclosure [Abstract]
INVENTORY	INVENTORY The following table shows the composition of our inventory balances: ($ in millions) At Year-End 2017 At Year End 2016 Finished goods (1) $ 391 $ 352 Work-in-progress 2 40 Land and infrastructure (2) 330 331 Real estate inventory 723 723 Operating supplies and retail inventory 5 4 $ 728 $ 727 _________________________ (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 $68 million of inventory related to estimated future foreclosures at December 31, 2017 . 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. In addition to the above, at December 31, 2017 , we had $48 million of completed vacation ownership units which have been classified as a component of Property and equipment until the time at which they are legally registered for sale as vacation ownership products. As discussed in Footnote 10 “Contingencies and Commitments,” we also had $481 million of commitments to acquire completed vacation ownership units.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT The following table details the composition of our property and equipment balances: ($ in millions) At Year-End 2017 At Year-End 2016 Land $ 60 $ 55 Buildings and leasehold improvements 259 213 Furniture and equipment 54 51 Information technology 185 180 Construction in progress 23 28 581 527 Accumulated depreciation (328 ) (324 ) $ 253 $ 203 Depreciation expense totaled $21 million in 2017 , $21 million in 2016 and $22 million in 2015 .

CONTINGENCIES AND COMMITMENTS

CONTINGENCIES AND COMMITMENTS	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES AND COMMITMENTS	CONTINGENCIES AND COMMITMENTS Commitments and Letters of Credit As of December 31, 2017 , 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 $25 million , of which we expect $15 million , $5 million , $2 million , $1 million , $1 million and $1 million will be paid in 2018, 2019, 2020, 2021, 2022 and thereafter, respectively. • We have a commitment to purchase an operating property located in New York, New York for $170 million , of which $7 million is attributed to a related capital lease arrangement and recorded in Debt. We expect to acquire the units in the property, in their current form, over time, and we expect to make payments for these units of $108 million and $62 million in 2019 and 2020, respectively. We currently manage this property, which we have rebranded as Marriott Vacation Club Pulse, New York City. See Footnote 14 “Variable Interest Entities” for additional information on this transaction and our activities relating to the variable interest entity involved in this transaction. • We have a commitment to purchase 88 vacation ownership units located in Bali, Indonesia for use in our Asia Pacific segment, contingent upon completion of construction to agreed-upon standards within specified timeframes. As of December 31, 2017, we expected to complete the acquisition in 2019 and to make payments with respect to these units when specific construction milestones were completed, as follows: $14 million in 2018 and $25 million in 2019. During the first quarter of 2018, we amended the terms of this commitment and, as a result, we expect to make payments of $6 million in 2018, $31 million in 2019 and $2 million in 2020. • We have a remaining commitment to purchase vacation ownership units located at our resort in Marco Island, Florida for $108 million , which we expect will be paid as follows: $24 million in 2018 and $84 million in 2019. See Footnote 6 “Acquisitions and Dispositions” for additional information on this transaction and Footnote 14 “Variable Interest Entities” for additional information on our activities relating to the variable interest involved in this transaction. • During the first quarter of 2018, we assigned a commitment to purchase an operating property located in San Francisco, California, that we had as of December 31, 2017, to a third-party developer in a capital efficient inventory arrangement. We expect to acquire the operating property in 2020 and to pay the purchase price of $164 million as follows: $100 million in 2020 and $64 million in 2021. We are required to purchase the operating property from the third-party developer unless it has been sold to another party. The operating property is held by a variable interest entity for which we are not the primary beneficiary as we cannot prevent the variable interest entity from selling the operating property at a higher price. Accordingly, we will not consolidate the variable interest entity. Surety bonds issued as of December 31, 2017 totaled $35 million , the majority of which were requested by federal, state or local governments in connection with our operations. Additionally, as of December 31, 2017 , we had $5 million of letters of credit outstanding under our $250 million revolving credit facility (the “Revolving Corporate Credit Facility”). Loss Contingencies In April 2013, Krishna and Sherrie Narayan and other owners of 12 residential units (owners of two of which subsequently agreed to release their claims) at the resort formerly known as The Ritz-Carlton Club & Residences, Kapalua Bay (“Kapalua Bay”) filed an amended complaint in Circuit Court for Maui County, Hawaii 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 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 reversed the decision of the Intermediate Court of Appeals and reinstated the action in Circuit Court, which set the case for trial. We filed a petition with the United States Supreme Court seeking review of the Hawaii Supreme Court’s decision. In January 2016, the U.S. Supreme Court issued an order vacating the Hawaii Supreme Court’s decision and remanding the case with instructions to reconsider its ruling in light of a U.S. Supreme Court decision reiterating the obligation of courts to enforce arbitration agreements. In July 2017, the Hawaii Supreme Court issued a decision reaffirming its prior ruling and remanding the case to the Circuit Court for trial. In November 2017, we filed a petition with the U.S. Supreme Court seeking review of the Hawaii Supreme Court’s July 2017 decision, which the U.S. Supreme Court denied in February 2018. We dispute the material allegations in the amended complaint and continue to defend against the action vigorously. 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 (owners of two of which subsequently agreed to release their claims) 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. In July 2015, the Intermediate Court of Appeals reversed the decision of the Circuit Court and directed that the action be reinstated in the Circuit Court, based on the Hawaii Supreme Court’s decision in the Narayan case discussed above. In October 2017, following the August 2017 action of the Hawaii Supreme Court in the Narayan case, the Circuit Court set the Charles case for trial beginning in January 2019. In December 2017, we filed a motion with the Circuit Court to compel arbitration, which the Circuit Court denied in February 2018. We dispute the material allegations in the amended complaint and continue to defend against the action vigorously. Given the inherent uncertainties of litigation, we cannot estimate a range of the potential liability, if any, at this time. In May 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 69 fractional interests at the RCC San Francisco. The plaintiffs allege that the affiliation of the RCC San Francisco with our points-based Marriott Vacation Club Destinations (“MVCD”) program, certain alleged sales practices, and other acts we and the other defendants allegedly took 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 in April 2016. We filed a motion to dismiss, which the Court granted in part and denied in part in September 2017. The Court also granted leave to plaintiffs to file a second amended complaint, which plaintiffs filed in October 2017. In November 2017, we filed a motion to dismiss the second amended complaint. In February 2018, the Court granted our motion to dismiss and dismissed with prejudice plaintiffs’ claims regarding the existence of a fiduciary duty and breach of that duty. The Court also dismissed plaintiffs’ fraud claims but permitted plaintiffs to reassert those claims no later than March 10, 2018. We dispute the plaintiffs’ material allegations and continue 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. In March 2017, RCHFU, L.L.C. and other owners of 232 fractional interests at The Ritz-Carlton Club, Aspen Highlands (“RCC Aspen Highlands”) served an amended complaint in an action pending in the court against us, certain of our subsidiaries, and other third party defendants. The U.S. District Court for the District of Colorado has ordered that no further amendments will be permitted. The amended complaint alleges that the plaintiffs’ fractional interests were devalued by the affiliation of RCC Aspen Highlands and other Ritz-Carlton Clubs with our points-based MVCD program. The relief sought includes, among other things, unspecified damages, pre- and post-judgment interest, and attorneys’ fees. We filed a motion to dismiss the amended complaint, which remains pending. In February 2018, plaintiffs filed a motion seeking to add a claim for punitive damages to their complaint. We dispute the plaintiffs’ material allegations and continue 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. In May 2016, we, certain of our subsidiaries, and certain third parties were named as defendants in an action filed in the U.S. District Court for the Middle District of Florida by Anthony and Beth Lennen. The case is filed as a putative class action; the plaintiffs seek to represent a class consisting of themselves and all other purchasers of MVCD points, from inception of the MVCD program in June 2010 to the present, as well as all individuals who own or have owned weeks in any resorts for which weeks have been added to the MVCD program. Plaintiffs challenge the characterization of the beneficial interests in the MVCD trust that are sold to customers as real estate interests under Florida law. They also challenge the structure of the trust and associated operational aspects of the trust product. The relief sought includes, among other things, declaratory relief, an unwinding of the MVCD product, and punitive damages. In September 2016, we filed a motion to dismiss the complaint and a motion to stay the case pending referral of certain questions to Florida state regulators, and the Court granted the motion to dismiss and denied the motion to stay. The Court granted leave to plaintiffs to file an amended complaint, which plaintiffs filed in October 2017. In November 2017, we filed a motion to dismiss the amended complaint, which remains pending. We dispute the plaintiffs’ material allegations and continue 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 In September 2017, over 20 of our properties were impacted by Hurricane Irma and Hurricane Maria and, as a result, as of December 31, 2017, we have accrued $1 million for the estimated property damage insurance deductibles and impairment of property and equipment, which was recorded in the Gains and other income, net line on the Income Statement for the year ended December 31, 2017. During 2016, our properties in Hilton Head and Myrtle Beach, South Carolina were temporarily closed as a result of damage from Hurricane Matthew. In the 2017 third quarter, we received $9 million in net insurance proceeds related to the settlement of business interruption insurance claims arising from Hurricane Matthew, which were recorded in the Gains and other income line on the Income Statement for the year ended December 31, 2017. Leases We have various land, corporate facilities, real estate and equipment operating leases. The land lease consists of a long-term golf course land lease with a term of 30 years. The corporate facilities leases are for our corporate headquarters and have lease terms of approximately six years. The other operating leases are primarily for office and retail space as well as equipment supporting our operations and have lease terms of between three and ten years. Certain of these leases provide for minimum rental payments and additional rental payments based on our operations of the leased property. We have summarized our future obligations under operating leases at December 31, 2017 below: ($ in millions) Land Corporate Other Total 2018 $ 1 $ 3 $ 13 $ 17 2019 1 4 10 15 2020 1 4 8 13 2021 1 3 5 9 2022 1 — 6 7 Thereafter 7 — 28 35 Total minimum lease payments $ 12 $ 14 $ 70 $ 96 The following table details the composition of rent expense associated with operating leases, net of sublease income, for the last three years: ($ in millions) 2017 2016 2015 Minimum rentals $ 9 $ 8 $ 9 Additional rentals 4 4 4 $ 13 $ 12 $ 13

DEBT

DEBT	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
DEBT	DEBT The following table provides detail on our debt balances, net of unamortized debt discount and issuance costs: ($ in millions) At Year-End 2017 At Year-End 2016 Vacation ownership notes receivable securitizations, gross (1) $ 845 $ 738 Unamortized debt issuance costs (10 ) (9 ) 835 729 Convertible notes, gross (2) 230 — Unamortized debt discount and issuance costs (38 ) — 192 — Non-interest bearing note payable 64 — Unamortized debt discount (3) (3 ) — 61 — Other debt, gross — 1 Unamortized debt issuance costs — — — 1 Capital leases 7 7 $ 1,095 $ 737 _________________________ (1) Interest rates as of December 31, 2017 range from 2.2% to 6.3% with a weighted average interest rate of 2.5% . (2) The effective interest rate as of December 31, 2017 was 4.7% . (3) Debt discount based on imputed interest rate of 6.0% . See Footnote 14 “Variable Interest Entities” for a discussion of the collateral for the non-recourse debt associated with the securitized vacation ownership notes receivable and the Warehouse Credit Facility. The following table shows scheduled future principal payments for our debt as of December 31, 2017 : ($ in millions) Vacation Ownership Notes Receivable Securitizations (1) Convertible Notes Non-Interest Bearing Note Payable Capital Leases Total Debt Principal Payments Year 2018 $ 95 $ — $ 33 $ — $ 128 2019 92 — 31 7 130 2020 94 — — — 94 2021 95 — — — 95 2022 94 230 — — 324 Thereafter 375 — — — 375 $ 845 $ 230 $ 64 $ 7 $ 1,146 _________________________ (1) The debt associated with our vacation ownership notes receivable securitizations is non-recourse to us. 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 $22 million in 2017 , $23 million in 2016 and $30 million in 2015 . Debt Associated with Vacation Ownership Notes Receivable Securitizations During the 2017 third quarter, we completed the securitization of a pool of $361 million of vacation ownership notes receivable. In connection with the securitization, investors purchased in a private placement $350 million in vacation ownership loan backed notes from the MVW Owner Trust 2017-1 (the “2017-1 Trust”). Three classes of vacation ownership loan backed notes were issued by the 2017-1 Trust: $276 million of Class A Notes, $47 million of Class B Notes and $27 million of Class C Notes. The Class A Notes have an interest rate of 2.42 percent, the Class B Notes have an interest rate of 2.75 percent and the Class C Notes have an interest rate of 2.99 percent, for an overall weighted average interest rate of 2.51 percent. 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 2017, and as of December 31, 2017 , no securitized vacation ownership notes receivable pools were out of compliance with their respective established parameters. As of December 31, 2017 , we had 8 securitized vacation ownership notes receivable pools outstanding. Convertible Notes During the 2017 third quarter, we issued $230 million aggregate principal amount of Convertible Notes, which included the exercise in full of the over-allotment option we granted to the initial purchasers of the Convertible Notes to purchase up to an additional $30 million aggregate principal amount of Convertible Notes. The Convertible Notes are governed by an indenture dated September 25, 2017 (the “Indenture”) between us and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”). We received net proceeds from the offering of approximately $224 million after adjusting for debt issuance costs, including the discount to the initial purchasers. The Convertible Notes bear interest at a rate of 1.50 percent, payable in cash semi-annually on March 15 and September 15 of each year beginning on March 15, 2018. The Convertible Notes mature on September 15, 2022, unless repurchased or converted in accordance with their terms prior to that date. On or after June 15, 2022, and until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their Convertible Notes at their option. The Convertible Notes are convertible at an initial rate of 6.7482 shares of common stock per $1,000 principal amount of Convertible Notes (equivalent to an initial conversion price of approximately $148.19 per share of our common stock). The conversion rate is subject to adjustment for certain events as described in the Indenture. The conversion rate was adjusted during the 2017 fourth quarter to 6.7508 shares of common stock per $1,000 principal amount of Convertible Notes (equivalent to a conversion price of approximately $148.13 per share of our common stock) when we declared a quarterly dividend of $0.40 per share, which was greater than the quarterly dividend at the time of the issuance of the Convertible Notes. Upon conversion, we will pay or deliver, as the case may be, cash, shares of our common stock or a combination of cash and shares of our common stock, at our election. It is our intent to settle conversions of the Convertible Notes through combination settlement, which contemplates repayment in cash of the principal amount and repayment in shares of our common stock of any excess of the conversion value over the principal amount. Holders may convert their Convertible Notes prior to June 15, 2022 only under the following circumstances: • during any calendar quarter commencing after the calendar quarter ending on December 31, 2017 (and only during such calendar quarter), if the last reported sale price of our common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130 percent of the conversion price on each applicable trading day; • during the five business day period after any five consecutive trading day period in which the trading price per $1,000 principal amount of the Convertible Notes for each trading day of that five consecutive trading day period was less than 98 percent of the product of the last reported sale price of our common stock and the conversion rate on each such trading day; or • upon the occurrence of specified corporate events as described in the Indenture. We may not redeem the Convertible Notes prior to their maturity date, and no sinking fund is provided for them. If we undergo a fundamental change, as described in the Indenture, subject to certain conditions, holders may require us to repurchase for cash all or any portion of their Convertible Notes. The repurchase price as a result of a fundamental change is equal to 100 percent of the principal amount of the Convertible Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the repurchase date. If certain fundamental changes referred to in the Indenture as make-whole fundamental changes occur, the conversion rate applicable to the Convertible Notes may increase. The Convertible Notes are our general senior unsecured obligations, ranking senior in right of payment to any future debt that is expressly subordinated in right of payment to the Convertible Notes and equally in right of payment with all of our existing and future liabilities that are not so subordinated. The Convertible Notes are effectively subordinated to all of our existing and future secured debt to the extent of the value of the assets securing such debt. The Convertible Notes are structurally subordinated to all of the existing and future liabilities and obligations of our subsidiaries. The Convertible Notes are not guaranteed by any of our subsidiaries. There are no financial or operating covenants related to the Convertible Notes. The Indenture contains customary events of default with respect to the Convertible Notes and provides that upon the occurrence and continuation of certain events of default, the Trustee or the holders of at least 25 percent in aggregate principal amount of the Convertible Notes then outstanding, may declare all principal of, and accrued and any unpaid interest on, the Convertible Notes then outstanding to be immediately due and payable. In case of certain events of bankruptcy or insolvency involving the Company or certain of its subsidiaries, all of the principal of and accrued and unpaid interest on the Convertible Notes will automatically become immediately due and payable. In accounting for the issuance of the Convertible Notes, we separated the Convertible Notes into liability and equity components, and allocated $197 million to the liability component and $33 million to the equity component. The resulting debt discount is amortized as interest expense. As of December 31, 2017 , the remaining debt discount amortization period was 4.7 years . We also incurred issuance costs of $7 million related to the Convertible Notes. The following table shows the net carrying value of the Convertible Notes: ($ in millions) At Year-End 2017 Liability component Principal amount $ 230 Unamortized debt discount (32 ) Unamortized debt issuance costs (6 ) $ 192 Equity component, net of issuance costs $ 33 The following table shows the total interest expense related to the Convertible Notes: ($ in millions) 2017 Contractual interest expense $ 1 Amortization of debt discount 2 Amortization of debt issuance costs — $ 3 Convertible Note Hedges and Warrants In connection with the offering of the Convertible Notes, we entered into privately-negotiated convertible note hedge transactions with respect to our common stock with two counterparties on each of September 20, 2017 and September 21, 2017 (“Convertible Note Hedges”), covering a total of approximately 1.55 million shares of our common stock at a cost of $33 million . The Convertible Note Hedges are subject to anti-dilution provisions substantially similar to those of the Convertible Notes, have a strike price that initially corresponds to the initial conversion price of the Convertible Notes, are exercisable by us upon any conversion under the Convertible Notes, and expire when the Convertible Notes mature. The cost of the Convertible Note Hedges is expected to be tax deductible as an original issue discount over the life of the Convertible Notes, as the Convertible Notes and the Convertible Note Hedges represent an integrated debt instrument for tax purposes. The cost of the Convertible Note Hedges was recorded as a reduction of Additional paid-in capital on our Balance Sheet as of December 31, 2017 . Concurrently with the entry into the Convertible Note Hedges, we separately entered into privately-negotiated warrant transactions (the “Warrants”), whereby we sold to the counterparties to the Convertible Note Hedges warrants to acquire, collectively, subject to anti-dilution adjustments, approximately 1.55 million shares of our common stock at an initial strike price of $176.68 per share. We received aggregate proceeds of approximately $20 million from the sale of the Warrants to the counterparties. Taken together, the Convertible Note Hedges and the Warrants are generally expected to reduce the potential dilution to our common stock (or, in the event the conversion of the Convertible Notes is settled in cash, to reduce our cash payment obligation) in the event that at the time of conversion our stock price exceeds the conversion price under the Convertible Notes and to effectively increase the overall conversion price from $148.19 (or a conversion premium of 30 percent) to $176.68 per share (or a conversion premium of 55 percent). The Warrants will expire in ratable portions on a series of expiration dates commencing on December 15, 2022. The proceeds from the issuance of the Warrants were recorded as an increase to Additional paid-in capital on our Balance Sheet as of December 31, 2017 . The Convertible Notes, the Convertible Note Hedges and the Warrants are transactions that are separate from each other. Holders of any such instrument have no rights with respect to the other instruments. As of December 31, 2017 , no Convertible Note Hedges or Warrants have been exercised. Revolving Corporate Credit Facility During the 2017 third quarter, we terminated our $200 million revolving credit facility (the “Previous Revolving Corporate Credit Facility”) and entered into a new Revolving Corporate Credit Facility with a borrowing capacity of $250 million , including a letter of credit sub-facility of $30 million , that terminates on August 16, 2022. All outstanding cash borrowings under our Previous Revolving Corporate Credit Facility were repaid in full prior to termination. The Revolving Corporate Credit Facility provides support for our business, including ongoing liquidity and letters of credit. Borrowings under this facility generally bear interest at a floating rate plus an applicable margin that varies from 0.50 percent to 2.75 percent depending on the type of loan and our credit rating. In addition, we pay a commitment fee on the unused availability under the Revolving Corporate Credit Facility at a rate that varies from 20 basis points per annum to 40 basis points per annum, also depending on our credit rating. No cash borrowings were outstanding as of December 31, 2017 under our Revolving Corporate Credit Facility. Any amounts 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. As of December 31, 2017 , we were in compliance with the applicable financial and operating covenants under the Revolving Credit Facility. Warehouse Credit Facility The Warehouse Credit Facility, which has a borrowing capacity of $250 million , allows for the securitization of vacation ownership notes receivable on a non-recourse basis. During the 2017 third quarter, we amended certain agreements associated with this facility (the “Warehouse Amendment”). The Warehouse Amendment requires us to comply with the financial covenants in the Revolving Corporate Credit Facility and eliminates the requirement to comply with the covenants contained in the Previous Revolving Corporate Credit Facility. The Warehouse Amendment did not modify the borrowing capacity or the term of the Warehouse Credit Facility. The Warehouse Credit Facility terminates on March 7, 2019 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. The advance rate for vacation ownership notes receivable securitized using the Warehouse Credit Facility varies based on the characteristics of the securitized vacation ownership notes receivable. We also pay unused facility and other fees under the Warehouse Credit Facility. During the 2017 second quarter, we securitized vacation ownership notes receivable under our Warehouse Credit Facility. The carrying amount of the vacation ownership notes receivable securitized was $59 million . The advance rate was 85 percent, which resulted in gross proceeds of $50 million . Net proceeds were $50 million due to the funding of reserve accounts in the amount of less than $1 million . As of December 31, 2017 , 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. Non-Interest Bearing Note Payable During the 2017 second quarter, we issued a non-interest bearing note payable in connection with the acquisition of vacation ownership units located on the Big Island of Hawaii. See Footnote 6 “Acquisitions and Dispositions” for additional information regarding this transaction. Capital Leases In 2016 we entered into a capital lease arrangement for ancillary and operations space in connection with the commitment to purchase an operating property located in New York, New York. See Footnote 10 “Contingencies and Commitments” for additional information regarding this transaction.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2017
Equity [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS’ EQUITY Marriott Vacations Worldwide has 100,000,000 authorized shares of common stock, par value of $0.01 per share. At December 31, 2017 , there were 36,861,843 shares of Marriott Vacations Worldwide common stock issued, of which 26,461,296 shares were outstanding and 10,400,547 shares were held as treasury stock. At December 30, 2016 , there were 36,633,868 shares of Marriott Vacations Worldwide common stock issued, of which 26,990,306 shares were outstanding and 9,643,562 shares were held as treasury stock. Marriott Vacations Worldwide has 2,000,000 authorized shares of preferred stock, par value of $0.01 per share, none of which were issued or outstanding as of December 31, 2017 or December 30, 2016 . Share Repurchase Program The following table summarizes share repurchase activity under our current share repurchase program: ($ in millions, except per share amounts) Number of Cost of Shares Average Price As of December 30, 2016 9,672,629 $ 609 $ 62.90 For the year ended December 31, 2017 767,876 88 115.00 As of December 31, 2017 10,440,505 $ 697 $ 66.73 On August 1, 2017, our Board of Directors authorized the repurchase of up to 1.0 million additional shares of our common stock under our existing share repurchase program and extended the duration of the program through May 31, 2018. As of December 31, 2017 , our Board of Directors had authorized the repurchase of an aggregate of up to 11.9 million shares of our common stock under the share repurchase program since the initiation of the program in October 2013. Share repurchases may be made through open market purchases, privately negotiated transactions, block transactions, tender offers, accelerated share repurchase agreements or otherwise. 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. As of December 31, 2017 , 1.5 million shares remained available for repurchase under the authorization approved by our Board of Directors. The authorization for the share repurchase program may be suspended, terminated, increased or decreased by our Board of Directors at any time without prior notice. Dividends We declared cash dividends to holders of common stock during the year ended December 31, 2017 as follows: Declaration Date Shareholder Record Date Distribution Date Dividend per Share February 9, 2017 February 23, 2017 March 9, 2017 $0.35 May 11, 2017 May 25, 2017 June 8, 2017 $0.35 September 7, 2017 September 21, 2017 October 5, 2017 $0.35 December 7, 2017 December 21, 2017 January 4, 2018 $0.40 Any future dividend payments will be subject to Board approval, and there can be no assurance that we will pay dividends in the future.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION We maintain the Stock Plan for the benefit of our officers, directors and employees. Under the Stock Plan, we award: (1) RSUs of our common stock, (2) SARs for our common stock and (3) stock options to purchase our common stock. A total of 6 million shares are authorized for issuance pursuant to grants under the Stock Plan. As of December 31, 2017 , 1 million shares were available for grants under the Stock Plan. The following table details our share-based compensation expense related to award grants to our officers, directors and employees: ($ in millions) 2017 2016 2015 Service based RSUs $ 10 $ 9 $ 9 Performance based RSUs 4 3 3 14 12 12 SARs 2 2 2 Stock options — — — $ 16 $ 14 $ 14 The following table details our deferred compensation costs related to unvested awards: ($ in millions) At Year-End 2017 (1) At Year-End 2016 Service based RSUs $ 9 $ 9 Performance based RSUs 5 3 14 12 SARs 1 1 Stock options — — $ 15 $ 13 _________________________ (1) As of December 31, 2017 , the weighted average remaining term for RSU grants outstanding at year-end 2017 was 1.8 years and we expect that deferred compensation expense will be recognized over a weighted average period of 2.4 years. Restricted Stock Units We have issued RSUs that vest over time, which we refer to as service based RSUs, and RSUs that vest based on performance with respect to established criteria, which we refer to as performance based RSUs. The following table shows the changes in our outstanding RSUs and the associated weighted average grant-date fair values: 2017 Service Based Performance Based Total Number of RSUs Weighted Average Grant-Date Fair Value Per RSU Number of RSUs Weighted Average Grant-Date Fair Value Per RSU Number of RSUs Weighted Average Grant-Date Fair Value Per RSU Outstanding at year-end 2016 514,947 $ 49.36 279,284 $ 61.30 794,231 $ 53.56 Granted 115,334 $ 96.53 94,436 $ 93.41 209,770 $ 95.12 Distributed (152,783) $ 51.88 (50,978) $ 52.09 (203,761) $ 51.93 Forfeited (6,491) $ 74.47 (11,230) $ 52.09 (17,721) $ 60.28 Outstanding at year-end 2017 471,007 $ 59.49 311,512 $ 72.89 782,519 $ 64.83 The weighted average grant-date fair value per RSU granted in 2016 and 2015 was $53.56 and $ 75.61 , respectively. The fair value of RSUs which vested in 2017 , 2016 and 2015 , was $ 18 million , $ 13 million and $ 30 million , respectively. SARs The following table shows the changes in our outstanding SARs and the associated weighted average exercise prices: 2017 Number of Weighted Average Exercise Price Per SAR Outstanding at year-end 2016 781,903 $ 34.97 Granted 81,977 97.53 Exercised (205,427) 19.35 Forfeited or expired — — Outstanding at year-end 2017 (1)(2) 658,453 $ 47.63 _________________________ (1) As of December 31, 2017 , outstanding SARs had a total intrinsic value of $ 58 million and a weighted average remaining term of 5.9 years. (2) As of December 31, 2017 , 431,543 SARs with a weighted average exercise price of $ 32.62 , an aggregate intrinsic value of $ 45 million and a weighted average remaining contractual term of 4.6 years were exercisable. The weighted average grant-date fair value per SAR granted in 2017 , 2016 and 2015 was $ 27.63 , $ 16.12 and $ 29.75 , respectively. The intrinsic value of SARs which vested in 2017 , 2016 and 2015 , was $ 6 million , $ 1 million and $ 5 million , respectively. The aggregate intrinsic value of SARs which were exercised in 2017 , 2016 and 2015 was $ 19 million , $ 6 million and $ 4 million , respectively. We use the Black-Scholes model to estimate the fair value of the SARs granted. For SARs granted under the Stock Plan subsequent to the Spin-Off, 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 in 2017, 2016 and 2015: 2017 2016 2015 Expected volatility 30.41% 31.60% 42.74% Dividend yield 1.44% 1.96% 1.26% Risk-free rate 2.06% 1.41% 1.74% Expected term (in years) 6.25 6.25 6.25 Stock Options We may grant non-qualified stock options to employees and non-employee directors at exercise prices or strike prices equal to the market price of our common stock on the date of grant. There were no outstanding or exercisable stock options held by our employees at year-end 2017 or 2016 , and no stock options were granted to our employees in 2017 , 2016 or 2015 . At December 31, 2017 , approximately 9,000 stock options were outstanding and exercisable with a weighted average exercise price per option of $18.36 and a weighted average remaining life of approximately two years. Employee Stock Purchase Plan During 2015, the Board of Directors adopted, and our shareholders subsequently approved, the Marriott Vacations Worldwide Corporation Employee Stock Purchase Plan (the “ESPP”), which became effective during 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 threshold established by the plan administrator for the offering period.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES 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 consumer loans we originate to third parties. In a vacation ownership notes receivable securitization, various classes of debt securities issued by a special purpose entity are generally collateralized by a single tranche of transferred assets, which consist of 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 bankruptcy remote special purpose 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 December 31, 2017 : ($ in millions) Vacation Ownership Warehouse Total Consolidated Assets Vacation ownership notes receivable, net of reserves $ 814 $ — $ 814 Interest receivable 6 — 6 Restricted cash 32 — 32 Total $ 852 $ — $ 852 Consolidated Liabilities Interest payable $ 1 $ — $ 1 Debt 845 — 845 Total $ 846 $ — $ 846 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 2017 : ($ in millions) Vacation Ownership Warehouse Total Interest income $ 99 $ 2 $ 101 Interest expense to investors $ 19 $ 1 $ 20 Debt issuance cost amortization $ 4 $ 1 $ 5 Administrative expenses $ 1 $ — $ 1 The following table shows cash flows between us and the vacation ownership notes receivable securitization variable interest entities: ($ in millions) 2017 2016 Cash Inflows Net proceeds from vacation ownership notes receivable securitizations $ 346 $ 247 Principal receipts 229 175 Interest receipts 100 92 Reserve release 1 51 Total 676 565 Cash Outflows Principal to investors (215 ) (167 ) Voluntary repurchases of defaulted vacation ownership notes receivable (28 ) (29 ) Interest to investors (19 ) (17 ) Funding of restricted cash (2 ) (52 ) Total (264 ) (265 ) Net Cash Flows $ 412 $ 300 The following table shows cash flows between us and the Warehouse Credit Facility variable interest entity: ($ in millions) 2017 2016 Cash Inflows Proceeds from vacation ownership notes receivable securitizations $ 50 $ 127 Principal receipts 2 5 Interest receipts 2 5 Reserve release — 1 Total 54 138 Cash Outflows Principal to investors (1 ) (4 ) Voluntary repurchases of defaulted vacation ownership notes receivable — (1 ) Repayment of Warehouse Credit Facility (49 ) (122 ) Interest to investors (2 ) (2 ) Total (52 ) (129 ) Net Cash Flows $ 2 $ 9 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. We made voluntary repurchases of defaulted vacation ownership notes receivable of $28 million during 2017 , $30 million during 2016 and $25 million during 2015 . We also made voluntary repurchases of $57 million , $144 million and $146 million of other non-defaulted vacation ownership notes receivable during 2017 , 2016 and 2015 , respectively, to retire previous vacation ownership notes receivable securitizations. 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 $5 million upon presentation of demand notes related to certain vacation ownership notes receivable securitization transactions outstanding at December 31, 2017 . Other Variable Interest Entities We have a commitment to purchase an operating property located in New York, New York, that we currently manage as Marriott Vacation Club Pulse, New York City. Refer to Footnote 10 “Contingencies and Commitments” for additional information on the commitment. We are required to purchase the completed property from the third party developer unless the developer has sold the property to another party. The property is held by a variable interest entity for which we are not the primary beneficiary as we cannot prevent the variable interest entity from selling the property at a higher price. Accordingly, we have not consolidated the variable interest entity. As of December 31, 2017 , our Balance Sheet reflected $8 million in Property and equipment related to a capital lease and leasehold improvements and $7 million in Debt related to the capital lease liability for ancillary and operations space we lease from the variable interest entity. In addition, a note receivable of less than $1 million is included in the Accounts receivable line on the Balance Sheet as of December 31, 2017. We believe that our maximum exposure to loss as a result of our involvement with this variable interest entity is $2 million as of December 31, 2017 . Pursuant to a commitment to repurchase an operating property located in Marco Island, Florida that was previously sold to a third-party developer, we acquired 36 completed vacation ownership units during the 2017 second quarter. Refer to Footnote 6 “Acquisitions and Dispositions” for additional information on this transaction. We remain obligated to repurchase the remaining portion of the operating property if it meets our brand standards upon completion, provided that the third-party developer has not sold it to another party. Refer to Footnote 10 “Contingencies and Commitments” for additional information on our remaining commitment. The developer is 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 at a higher price. Accordingly, we have not consolidated the variable interest entity. As of December 31, 2017 , our Balance Sheet reflected $4 million of Inventory, $2 million of Other assets that relate to prepaid and other deposits, and $8 million of Other liabilities that relate to the deferral of gain recognition on the previous sale transaction and the deferral of revenue for development management services for the remaining purchase commitment, both of which will reduce our basis in the asset if we repurchase the property. In addition, a note receivable of less than $1 million is included in the Accounts receivable line on the Balance Sheet as of December 31, 2017 . We believe that our maximum exposure to loss as a result of our involvement with this variable interest entity is less than $1 million as of December 31, 2017 .

BUSINESS SEGMENTS

BUSINESS SEGMENTS	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
BUSINESS SEGMENTS	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, as well as under Marriott Vacation Club Pulse, an extension to the Marriott Vacation Club brand. 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 Asia Pacific segment, we develop, market, sell and manage two points-based programs that we specifically designed to appeal to the vacation preferences of the market, Marriott Vacation Club, Asia Pacific and Marriott Vacation Club Destinations, Australia, as well as a weeks-based right-to-use product. • 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. 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 and other gains or losses that are not allocable to our segments. Revenues ($ in millions) 2017 2016 2015 North America $ 2,000 $ 1,812 $ 1,848 Asia Pacific 67 74 93 Europe 116 114 126 Total segment revenues 2,183 2,000 2,067 Corporate and other — — — $ 2,183 $ 2,000 $ 2,067 Net Income ($ in millions) 2017 2016 2015 North America $ 442 $ 398 $ 416 Asia Pacific (1 ) 2 7 Europe 15 12 15 Total segment financial results 456 412 438 Corporate and other (216 ) (214 ) (224 ) Provision for income taxes (5 ) (76 ) (87 ) $ 235 $ 122 $ 127 Depreciation ($ in millions) 2017 2016 2015 North America $ 13 $ 12 $ 13 Asia Pacific 1 1 2 Europe 1 2 2 Total segment depreciation 15 15 17 Corporate and other 6 6 5 $ 21 $ 21 $ 22 Assets ($ in millions) At Year-End 2017 At Year-End 2016 North America $ 2,088 $ 1,902 Asia Pacific 129 99 Europe 62 60 Total segment assets 2,279 2,061 Corporate and other 566 259 $ 2,845 $ 2,320 Capital Expenditures (including inventory) ($ in millions) 2017 2016 2015 North America $ 143 $ 137 $ 180 Asia Pacific 26 21 72 Europe 5 6 3 Total segment capital expenditures 174 164 255 Corporate and other 7 9 10 $ 181 $ 173 $ 265 Our Financial Statements include the following items related to operations located outside the United States (which are predominately related to our Asia Pacific and Europe segments): • Revenues, excluding cost reimbursements, of $186 million in 2017 , $190 million in 2016 and $216 million in 2015 ; and • Fixed assets of $77 million in 2017 and $60 million in 2016 . For year-end 2017 and year-end 2016 , fixed assets located outside the United States are included within the “Property and equipment” caption on our Balance Sheets.

QUARTERLY RESULTS (UNAUDITED)

QUARTERLY RESULTS (UNAUDITED)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY RESULTS (UNAUDITED)	QUARTERLY RESULTS (UNAUDITED) 2017 (1)(2) ($ in millions, except per share data) First Second Third Fourth Fiscal Revenues $ 528 $ 563 $ 530 $ 562 $ 2,183 Expenses $ (483 ) $ (489 ) $ (461 ) $ (504 ) $ (1,937 ) Net income $ 28 $ 48 $ 47 $ 112 $ 235 Basic earnings per share $ 1.02 $ 1.76 $ 1.74 $ 4.21 $ 8.70 Diluted earnings per share $ 1.00 $ 1.72 $ 1.70 $ 4.10 $ 8.49 2016 (2)(3) ($ in millions, except per share data) First Second Third Fourth Fiscal Revenues $ 442 $ 452 $ 484 $ 622 $ 2,000 Expenses $ (424 ) $ (416 ) $ (418 ) $ (542 ) $ (1,800 ) Net income $ 7 $ 25 $ 41 $ 49 $ 122 Basic earnings per share $ 0.23 $ 0.90 $ 1.51 $ 1.79 $ 4.37 Diluted earnings per share $ 0.23 $ 0.89 $ 1.48 $ 1.75 $ 4.29 _______________________ (1) Beginning with our 2017 fiscal year, we changed our financial reporting cycle to a calendar year-end and end-of-month quarterly reporting cycle. Accordingly our 2017 first quarter included the period from December 31, 2016 (the day after the end of the 2016 fiscal year) through March 31, 2017, and our 2017 second, third and fourth quarters included the three month periods ended June 30, September 30, and December 31, respectively. (2) The sum of the earnings per share for the four quarters differs from annual earnings per share due to the required method of computing the weighted average shares in interim periods. (3) The 2016 quarters consisted of 12 weeks, except for the fourth quarter of 2016, which consisted of 16 weeks.

ADOPTION IMPACT OF NEW REVENUE

ADOPTION IMPACT OF NEW REVENUE STANDARD	12 Months Ended
	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
ADOPTION IMPACT OF NEW REVENUE STANDARD	ADOPTION IMPACT OF NEW REVENUE STANDARD As discussed in Footnote 1 “Summary of Significant Accounting Policies,” the FASB issued ASU 2014-09 in 2014, which, as amended, created ASC 606. The core principle of ASC 606 is that an entity shall recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard also contains significant new disclosure requirements regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. We adopted ASC 606 effective January 1, 2018, on a retrospective basis and have restated our previously reported historical results within these Financial Statements as shown in the tables below. The cumulative impact of the adoption of the new Revenue Standard on our opening retained earnings as of January 3, 2015, the first day of our 2015 fiscal year, was $2 million . Upon adoption of the new Revenue Standard, recognition of revenue from the sale of vacation ownership products that is deemed collectible is now deferred from the point in time at which the statutory rescission period expires to closing, when control of the vacation ownership product is transferred to the customer. In addition, we aligned our assessment of collectibility of the transaction price for sales of vacation ownership products with our credit granting policies. We elected the practical expedient to expense all marketing and sales costs as they are incurred. Our consolidated cost reimbursements revenues and cost reimbursements expenses increased significantly, as all costs reimbursed to us by property owners’ associations are now reported on a gross basis upon adoption of the new Revenue Standard. In conjunction with the adoption of the new Revenue Standard we reclassified certain revenues and expenses. As part of the adoption of the new Revenue Standard, we elected the following practical expedients and accounting policies: • We expense all marketing and sales costs that we incur to sell vacation ownership products when incurred. • In determining the transaction price for contracts from customers, we exclude all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-product transaction and collected by the entity from a customer (e.g., sales tax). • We do not disclose the amount of the transaction price allocated to the remaining performance obligations as of December 31, 2017 or provide an explanation of when we expect to recognize that amount as revenue. The following tables present the impact of the adoption of the new Revenue Standard on our previously reported historical results for the periods presented: 2017 Income Statement Impact 2017 ($ in millions, except per share amounts) As Reported Adjustments As Adjusted REVENUES Sale of vacation ownership products $ 728 $ 29 $ 757 Resort management and other services 306 (27 ) 279 Financing 135 — 135 Rental 323 (61 ) 262 Cost reimbursements 460 290 750 TOTAL REVENUES 1,952 231 2,183 EXPENSES Cost of vacation ownership products 178 16 194 Marketing and sales 409 (14 ) 395 Resort management and other services 172 (17 ) 155 Financing 18 — 18 Rental 281 (58 ) 223 General and administrative 110 — 110 Litigation settlement 4 — 4 Consumer financing interest 25 — 25 Royalty fee 63 — 63 Cost reimbursements 460 290 750 TOTAL EXPENSES 1,720 217 1,937 Gains and other income, net 6 — 6 Interest expense (10 ) — (10 ) Other (2 ) — (2 ) INCOME BEFORE INCOME TAXES 226 14 240 Benefit (provision) for income taxes 1 (6 ) (5 ) NET INCOME $ 227 $ 8 $ 235 Basic earnings per share $ 8.38 $ 0.32 $ 8.70 Diluted earnings per share $ 8.18 $ 0.31 $ 8.49 2016 Income Statement Impact 2016 ($ in millions, except per share amounts) As Reported Adjustments As Adjusted REVENUES Sale of vacation ownership products $ 638 $ (15 ) $ 623 Resort management and other services 300 (22 ) 278 Financing 126 1 127 Rental 312 (60 ) 252 Cost reimbursements 432 288 720 TOTAL REVENUES 1,808 192 2,000 EXPENSES Cost of vacation ownership products 155 8 163 Marketing and sales 353 (13 ) 340 Resort management and other services 174 (17 ) 157 Financing 19 — 19 Rental 261 (49 ) 212 General and administrative 105 — 105 Litigation settlement (1 ) — (1 ) Consumer financing interest 24 — 24 Royalty fee 61 — 61 Cost reimbursements 432 288 720 TOTAL EXPENSES 1,583 217 1,800 Gains and other income, net 11 — 11 Interest expense (9 ) — (9 ) Other (4 ) — (4 ) INCOME BEFORE INCOME TAXES 223 (25 ) 198 Provision for income taxes (86 ) 10 (76 ) NET INCOME $ 137 $ (15 ) $ 122 Basic earnings per share $ 4.93 $ (0.56 ) $ 4.37 Diluted earnings per share $ 4.83 $ (0.54 ) $ 4.29 2015 Income Statement Impact 2015 ($ in millions, except per share amounts) As Reported Adjustments As Adjusted REVENUES Sale of vacation ownership products $ 675 $ 18 $ 693 Resort management and other services 293 (24 ) 269 Financing 124 1 125 Rental 313 (53 ) 260 Cost reimbursements 406 314 720 TOTAL REVENUES 1,811 256 2,067 EXPENSES Cost of vacation ownership products 204 14 218 Marketing and sales 330 (13 ) 317 Resort management and other services 180 (17 ) 163 Financing 21 — 21 Rental 260 (49 ) 211 General and administrative 106 — 106 Organizational and separation related 1 — 1 Consumer financing interest 25 — 25 Royalty fee 59 — 59 Impairment 1 — 1 Cost reimbursements 406 314 720 TOTAL EXPENSES 1,593 249 1,842 Gains and other income, net 10 — 10 Interest expense (13 ) — (13 ) Other (8 ) — (8 ) INCOME BEFORE INCOME TAXES 207 7 214 Provision for income taxes (84 ) (3 ) (87 ) NET INCOME $ 123 $ 4 $ 127 Basic earnings per share $ 3.90 $ 0.14 $ 4.04 Diluted earnings per share $ 3.82 $ 0.13 $ 3.95 2017 Balance Sheet Impact As of December 31, 2017 ($ in millions) As Reported Adjustments As Adjusted ASSETS Cash and cash equivalents $ 409 $ — $ 409 Restricted cash 82 — 82 Accounts receivable, net 154 (62 ) 92 Vacation ownership notes receivable, net 1,120 (5 ) 1,115 Inventory 716 12 728 Property and equipment 253 — 253 Other 172 (6 ) 166 TOTAL ASSETS $ 2,906 $ (61 ) $ 2,845 LIABILITIES AND EQUITY Accounts payable $ 145 $ — $ 145 Advance deposits 63 21 84 Accrued liabilities 168 (48 ) 120 Deferred revenue 98 (29 ) 69 Payroll and benefits liability 112 — 112 Deferred compensation liability 75 — 75 Debt, net 1,095 — 1,095 Other 14 — 14 Deferred taxes 91 (1 ) 90 TOTAL LIABILITIES 1,861 (57 ) 1,804 Preferred stock — — — Common stock — — — Treasury stock (694 ) — (694 ) Additional paid-in capital 1,189 — 1,189 Accumulated other comprehensive income 17 — 17 Retained earnings 533 (4 ) 529 TOTAL EQUITY 1,045 (4 ) 1,041 TOTAL LIABILITIES AND EQUITY $ 2,906 $ (61 ) $ 2,845 2016 Balance Sheet Impact As of December 30, 2016 ($ in millions) As Reported Adjustments As Adjusted ASSETS Cash and cash equivalents $ 147 $ — $ 147 Restricted cash 66 — 66 Accounts receivable, net 162 (77 ) 85 Vacation ownership notes receivable, net 972 (2 ) 970 Inventory 713 14 727 Property and equipment 203 — 203 Other 128 (6 ) 122 TOTAL ASSETS $ 2,391 $ (71 ) $ 2,320 LIABILITIES AND EQUITY Accounts payable $ 124 $ — $ 124 Advance deposits 56 26 82 Accrued liabilities 147 (42 ) 105 Deferred revenue 95 (36 ) 59 Payroll and benefits liability 96 — 96 Deferred compensation liability 63 — 63 Debt, net 737 — 737 Other 16 — 16 Deferred taxes 149 (6 ) 143 TOTAL LIABILITIES 1,483 (58 ) 1,425 Preferred stock — — — Common stock — — — Treasury stock (607 ) — (607 ) Additional paid-in capital 1,163 — 1,163 Accumulated other comprehensive income 5 — 5 Retained earnings 347 (13 ) 334 TOTAL EQUITY 908 (13 ) 895 TOTAL LIABILITIES AND EQUITY $ 2,391 $ (71 ) $ 2,320 2017 Cash Flow Impact - Operating Activities 2017 ($ in millions) As Reported Adjustments As Adjusted OPERATING ACTIVITIES Net income $ 227 $ 8 $ 235 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 21 — 21 Amortization of debt discount and issuance costs 10 — 10 Vacation ownership notes receivable reserve 50 2 52 Share-based compensation 16 — 16 Loss on disposal of property and equipment, net 2 — 2 Deferred income taxes (66 ) 5 (61 ) Net change in assets and liabilities: Accounts receivable 5 (14 ) (9 ) Notes receivable originations (467 ) 1 (466 ) Notes receivable collections 270 — 270 Inventory 42 3 45 Purchase of vacation ownership units for future transfer to inventory (34 ) — (34 ) Other assets (21 ) — (21 ) Accounts payable, advance deposits and accrued liabilities 51 (12 ) 39 Deferred revenue 2 7 9 Payroll and benefit liabilities 16 — 16 Deferred compensation liability 12 — 12 Other, net 6 — 6 Net cash provided by operating activities $ 142 $ — $ 142 2016 Cash Flow Impact - Operating Activities 2016 ($ in millions) As Reported Adjustments As Adjusted OPERATING ACTIVITIES Net income $ 137 $ (15 ) $ 122 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 21 — 21 Amortization of debt discount and issuance costs 6 — 6 Vacation ownership notes receivable reserve 48 (3 ) 45 Share-based compensation 14 — 14 Gain on disposal of property and equipment, net (11 ) — (11 ) Deferred income taxes 39 (9 ) 30 Net change in assets and liabilities: Accounts receivable (29 ) 29 — Notes receivable originations (357 ) — (357 ) Notes receivable collections 254 — 254 Inventory 5 (6 ) (1 ) Other assets 11 1 12 Accounts payable, advance deposits and accrued liabilities (19 ) 5 (14 ) Deferred revenue 17 (2 ) 15 Payroll and benefit liabilities (7 ) — (7 ) Deferred compensation liability 12 — 12 Net cash provided by operating activities $ 141 $ — $ 141 2015 Cash Flow Impact - Operating Activities 2015 ($ in millions) As Reported Adjustments As Adjusted OPERATING ACTIVITIES Net income $ 123 $ 4 $ 127 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 22 — 22 Amortization of debt discount and issuance costs 6 — 6 Vacation ownership notes receivable reserve 33 3 36 Share-based compensation 14 — 14 Gain on disposal of property and equipment, net (10 ) — (10 ) Deferred income taxes 28 3 31 Net change in assets and liabilities: Accounts receivable (25 ) (1 ) (26 ) Notes receivable originations (311 ) — (311 ) Notes receivable collections 270 — 270 Inventory 73 — 73 Purchase of operating properties for future conversion to inventory (62 ) — (62 ) Other assets (11 ) — (11 ) Accounts payable, advance deposits and accrued liabilities 34 (8 ) 26 Liability for Marriott Rewards customer loyalty program (89 ) — (89 ) Deferred revenue (5 ) (1 ) (6 ) Payroll and benefit liabilities 11 — 11 Deferred compensation liability 9 — 9 Other liabilities 3 — 3 Other, net 6 — 6 Net cash provided by operating activities $ 119 $ — $ 119

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Amendments to Agreements with Marriott International In February 2018, we amended several of the agreements governing our ongoing relationship with Marriott International, including the agreements that provide for our license arrangements with Marriott International and The Ritz-Carlton Hotel Company and our participation in the Marriott Rewards programs. Pursuant to these amendments, in exchange for agreeing to a limited exception to our exclusive rights with respect to access to the Marriott Rewards program and member lists and Marriott International’s reservation system and marriott.com website, we received a number of benefits, including a reduction in the annual royalty fee we pay to Marriott International, increased annual co-marketing funds associated with Marriott International’s new credit card arrangements and reduced costs of Marriott Rewards points under our existing agreements with Marriott International resulting from planned system-wide reductions in the rates Marriott International charges its loyalty program partners, and certain expanded marketing rights. Dividends On February 16, 2018, our Board of Directors declared a quarterly dividend of $0.40 per share to be paid on March 15, 2018 to shareholders of record as of March 1, 2018. On May 14, 2018, our Board of Directors declared a quarterly dividend of $0.40 per share to be paid on June 11, 2018 to shareholders of record as of May 28, 2018. Recent Acquisition Announcement On April 30, 2018, we entered into an Agreement and Plan of Merger (“Merger Agreement”) under which we agreed to acquire, in a series of transactions, all of the outstanding shares of ILG, Inc. (“ILG”) in a cash and stock transaction with an implied equity value of approximately $5 billion as of that date. Under the Merger Agreement, shareholders of ILG will receive 0.165 shares of our common stock, par value $0.01 per share, and $14.75 in cash, without interest, for each share of ILG common stock, par value $0.01 per share, that they own immediately before these transactions. Consummation of these transactions is subject to customary conditions, including approval from shareholders of both MVW and ILG, receipt of any required regulatory approvals and other customary closing conditions. We intend to finance the transaction through a combination of cash on hand and debt financing, and concurrently with the signing of the Merger Agreement, entered into a bridge facility commitment letter to provide for such financing. We are targeting to close the transaction by the end of the third quarter of 2018.

SUMMARY OF SIGNIFICANT ACCOUN26

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Our Business	Our Business Marriott Vacations Worldwide Corporation (“we,” “us,” “Marriott Vacations Worldwide,” or the “Company,” 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. In 2016, we introduced Marriott Vacation Club Pulse, an extension to the Marriott Vacation Club brand. 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”), provides on-site management for Ritz-Carlton branded properties. Our business is grouped into three reportable segments: North America, Asia Pacific and Europe. As of December 31, 2017 , our portfolio consisted of over 65 properties in the United States and nine other countries and territories. We generate most of our revenues from four primary sources: selling vacation ownership products; managing our resorts; financing consumer purchases of vacation ownership products; and renting vacation ownership inventory.
Our Spin-Off from Marriott International, Inc.	Our Spin-Off from Marriott International On November 21, 2011, the spin-off of Marriott Vacations Worldwide from Marriott International (the “Spin-Off”) was completed pursuant to a Separation and Distribution Agreement (the “Separation and Distribution Agreement”) between Marriott Vacations Worldwide and Marriott International. 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 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 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 Consolidated Financial Statements as our “Financial Statements,” (ii) our Consolidated Statements of Income as our “Income Statements,” (iii) our Consolidated Balance Sheets as our “Balance Sheets,” and (iv) our 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 Consolidated Financial Statements, unless otherwise noted. We use certain other terms that are defined within these Financial Statements. We adopted Accounting Standards Update (“ASU”) 2014-09 “ Revenue from Contracts with Customers (Topic 606), ” as amended (“ASU 2014-09”), effective January 1, 2018, the first day of our 2018 fiscal year, and refer to it as the new “Revenue Standard” throughout these Financial Statements. We have restated our previously reported historical results within these Financial Statements to conform with the adoption of the new Revenue Standard. See “ New Accounting Standards ” below for additional information on ASU 2014-09 and Footnote 17 “Adoption Impact of New Revenue Standard” for further discussion of the adoption and the impact on our previously reported historical results. Unless otherwise specified, each reference to a particular year in these Financial Statements means the fiscal year ended on the date shown in the following table, rather than the corresponding calendar year. Beginning with our 2017 fiscal year, we changed our financial reporting cycle to a calendar year-end and end-of-month quarterly reporting cycle. Accordingly our 2017 fiscal year began on December 31, 2016 (the day after the end of the 2016 fiscal year) and ended on December 31, 2017. Our future fiscal years will begin on January 1 and end on December 31. As a result of the change in our financial reporting cycle, our 2017 fiscal year had two more days of activity than our 2016 and 2015 fiscal years. We have not restated, and do not plan to restate, historical results for this change. Fiscal Year Fiscal Year-End Date Number of Days 2017 December 31, 2017 366 2016 December 30, 2016 364 2015 January 1, 2016 364 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, 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 2017 presentation.
Revenue Recognition	Revenue Recognition Sale of Vacation Ownership Products We market and sell vacation ownership products in our three reportable segments. Vacation ownership products include deeded vacation ownership products, deeded beneficial interests, rights to use real estate, and other interests in trusts that solely hold real estate and deeded whole ownership units in residential buildings (collectively “vacation ownership products”). Vacation ownership products may be sold for cash or we may provide financing. In connection with the sale of vacation ownership products, we provide sales incentives to certain purchasers. Non-cash incentives typically include Marriott Rewards points or an alternative sales incentive that we refer to as “plus points.” Plus points are redeemable for stays at our resorts or for use in an exclusive selection of travel packages provided by affiliate tour operators (the “Explorer Collection”), generally up to two years from the date of issuance. Typically, sales incentives are only awarded if the sale is closed. Upon execution of a legal sales agreement, we typically receive an upfront deposit from our customer with the remainder of the purchase price for the vacation ownership product to either be collected at closing (“cash contract”) or financed by the customer through our financing programs (“financed contract”). Refer to “ Financing Revenues ” below for further information regarding financing terms. Customer deposits received for contracts are recorded as Advance deposits on our Balance Sheets until the point in time at which control of the vacation ownership product has transferred to the customer. Our assessment of collectibility of the transaction price for sales of vacation ownership products is aligned with our credit granting policies for financed contracts. We compared the lending terms against the terms of similar notes in the market and concluded that certain contracts within our Asia Pacific and Europe segments contain below market interest rates and as such have adjusted the transaction price for these contracts to reflect a market rate of interest. The lending terms of financed contracts within our North America segment reflect market terms. In determining the consideration to which we expect to be entitled for financed contracts, we include estimated variable consideration in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on the customer class and the results of our static pool analysis, which relies on historical payment data by customer class. Variable consideration which has not been included within the transaction price is presented as a reserve on vacation ownership notes receivable. In addition, we account for cash incentives provided to customers as a reduction of the transaction price. Refer to “ Arrangements with Multiple Performance Obligations ” below for a description of our methods of allocating transaction price to each performance obligation. We recognize revenue on the sale of vacation ownership products at closing, when control is transferred to the customer. We evaluated our business practices, and the underlying risks and rewards associated with vacation ownership products, and the respective timing that such risk and rewards are transferred to the customer in determining the point in time at which control of the vacation ownership product is transferred to the customer. Revenue for non-cash incentives, such as plus points, is recorded as Deferred revenue on our Balance Sheets at closing and is recognized as rental revenue upon transfer of control to the customer, which typically occurs upon delivery of the incentive, or at the point in time when the incentive is redeemed. For non-cash incentives provided by third parties (i.e. Marriott Rewards points or third-party Explorer Collection offerings), we evaluated whether we control the underlying good or service prior to delivery to the customer. We concluded that we are an agent for those non-cash incentives for which we do not control prior to delivery and as such record the related revenue net of the related cost upon recognition. Revenues recognized during 2017 were reduced by $9 million as a result of changes in our estimate of variable consideration for performance obligations satisfied in prior periods. Resort Management and Other Services Revenues and Cost Reimbursements Revenues Ancillary Revenues Ancillary revenues consist of goods and services that are sold or provided by us at food and beverage outlets, golf courses and other retail and service outlets located at our resorts. Payments for such goods and services are generally received at the point of sale in the form of cash or credit card charges. For goods and services sold, we evaluated whether we control the underlying goods or services prior to delivery to the customer. For transactions where we do not control the goods or services prior to delivery, the related revenue is recorded net of the related cost upon recognition. We recognize ancillary revenue at the point in time when goods have been provided and/or services have been rendered. Management Fee Revenues and Cost Reimbursements Revenues We provide day-to-day-management services, including housekeeping services, operation of reservation systems, maintenance and certain accounting and administrative services for property owners’ associations. We generate revenue from fees we earn for managing each of our resorts. These fees are earned regardless of usage or occupancy and are typically based on either a percentage of the budgeted costs to operate the resorts or a fixed fee arrangement (“Management fee revenues”) and reimbursement of costs incurred on behalf of the property owners’ associations (“Cost reimbursements revenues”). Cost reimbursements revenues exclude amounts that we have paid to the property owners’ associations related to maintenance fees for unsold vacation ownership products, as we have concluded that such payments are consideration payable to a customer. Cost reimbursements consist of actual expenses with no added margin. Management fees are collected over time or upfront depending upon the specific management contract. Cost reimbursements are received over time and considered variable consideration. We have determined that a significant financing component does not exist as a substantial amount of the consideration promised by the customer is variable. We evaluated the nature of the services provided to property owners’ associations and concluded that the management services constitute a series of distinct services to be accounted for as a single performance obligation transferred over time. We use an input method, the number of days that management services are provided, to recognize management fee revenues, which is consistent with the pattern of transfer to the property owners’ associations who receive and consume the benefits as services are provided each day. Any consideration we receive in advance of services being rendered is recorded as Deferred revenue on our Balance Sheets and is recognized ratably across the service period to which it relates. We recognize variable consideration for Cost reimbursements revenues when the reimbursable costs are incurred. Other Services Revenues Other services revenues include additional fees for services we provide to owners and property owners’ associations. We receive club dues for exchange services as well as certain transaction-based fees from owners and other third parties, including external exchange service providers with which we are associated. Club dues are received in advance of providing access to the exchange services, are recorded as Deferred revenue on our Balance Sheets and are earned regardless of whether exchange services are provided. Transaction-based fees from owners are typically received at the time of the transaction and transaction-based fees from other third parties are typically received at a point in time. We have determined that exchange services constitute a stand-ready obligation for us to provide unlimited access to exchange services over a defined period of time, when and if a customer (or customer of a customer) requests. We have determined that customers benefit from the stand-ready obligation evenly throughout the period in which the customer has access to exchange services and as such, recognize club dues on a straight-line basis over the related period of time. Transaction-based fees are recognized as revenue at the point in time at which the relevant goods or services are transferred to the customer. For transaction-based fees, we evaluated whether we control the underlying goods or services prior to delivery to the customer. For transactions where we do not control the goods or services prior to delivery, the related revenue is recorded net of the related cost upon recognition. Financing Revenues We offer consumer financing as an option to qualifying customers purchasing vacation ownership products, which is collateralized by the underlying vacation ownership products. We recognize interest income on an accrual basis. The contractual terms of the financing agreements require that the contractual level of annual principal payments be sufficient to amortize the loan over a customary period for the vacation ownership product being financed, which is generally ten years. Generally, payments commence under the financing contracts 30 to 60 days after closing. We record the difference between the vacation ownership note receivable and the variable consideration included in the transaction price for the sale of the related vacation ownership product as a reserve on our vacation ownership notes receivable. Revisions to estimates of variable consideration from the sale of vacation ownership products impact the reserve and can increase or decrease revenue. We earn interest income from the financing arrangements on the principal balance outstanding over the life of the arrangement and record that interest income in Financing revenues on our Income Statements. Financing revenues include certain annual and transaction-based fees we charge to owners and other third parties for services. We recognize fee revenues when services have been rendered. Rental Revenues We generate revenue from rentals of inventory that we hold for sale as interests in our vacation ownership programs or inventory that we control because our owners have elected alternative usage options permitted under our vacation ownership programs. We receive payments for rentals primarily through credit card charges. We recognize rental revenues when occupancy has occurred, which is consistent with the period for which the customer benefits from such service. We recognize rental revenue from the utilization of plus points issued in connection with the sale of vacation ownership products as described in “ Sale of Vacation Ownership Products ” above. We also generate revenues from vacation packages sold to our customers. Payments received in advance are recorded as Advance deposits on our Balance Sheets, until the revenue is recognized. Payments for such packages are non-refundable, generally paid by the customer in advance and have an expiration period of six to twenty-four months, and revenue is recognized upon completion of the customer’s stay. For rental revenues associated with vacation ownership products which we own and which are registered for sale, to the extent that the proceeds are less than costs, revenues are reported net in accordance with ASC Topic 978, “ Real Estate – Time-Sharing Activities .” Arrangements with Multiple Performance Obligations Our contracts with customers may include multiple performance obligations. For such arrangements, we allocate revenue to each performance obligation based on its relative standalone selling price. In cases where the standalone selling price is not readily available, we generally determine the standalone selling prices utilizing the adjusted market approach, using prices from similar contracts, our historical pricing on similar contracts, our internal marketing and selling data and other internal and external inputs we deem to be appropriate. Significant judgment is required in determining the standalone selling price under the adjusted market approach. Receivables, Contract Assets & Contract Liabilities As discussed above, the payment terms and conditions in our customer contracts vary. In some cases, customers prepay for their goods and services; in other cases, after appropriate credit evaluations, payment is due in arrears. When the timing of our delivery of goods and services is different from the timing of the payments made by customers, we recognize either a contract asset (performance precedes contractual due date) or a contract liability (customer payment precedes performance or when we have a right to consideration that is unconditional before the transfer of goods or services to a customer). Receivables are recorded when the right to consideration becomes unconditional. Contract liabilities are recognized as revenue as (or when) we perform under the contract.
Inventory	Inventory Our inventory consists primarily of completed vacation ownership products, vacation ownership products under construction and land held for future vacation ownership product development. We carry our inventory at the lower of (1) cost, including costs of improvements and amenities incurred subsequent to acquisition, capitalized interest and real estate taxes plus other costs incurred during construction, or (2) estimated fair value, less costs to sell, which can result in impairment charges and/or recoveries of previous impairments. We account for vacation ownership inventory and cost of vacation ownership products in accordance with the authoritative guidance for accounting for real estate time-sharing transactions, which defines a specific application of the relative sales value method for reducing vacation ownership inventory and recording cost of sales as described in our policy for revenue recognition for vacation ownership products. Also, pursuant to the guidance for accounting for real estate time-sharing transactions, we do not reduce inventory for cost of vacation ownership products related to anticipated credit losses (accordingly, no adjustment is made when inventory is reacquired upon default of the related receivable). These standards provide for changes in estimates within the relative sales value calculations to be accounted for as real estate inventory true-ups, which we refer to as product cost true-up activity, and are recorded in Cost of vacation ownership product expenses on the Income Statements to retrospectively adjust the margin previously recorded subject to those estimates. For 2017 , 2016 and 2015 , product cost true-up activity relating to vacation ownership products increased carrying values of inventory by less than $1 million , $15 million and $7 million , respectively. For residential real estate projects, we allocate costs to individual residences in the projects based on the relative estimated sales value of each residence in accordance with Accounting Standards Codification (“ASC”) 970, “ Real Estate—General ,” which defines the accounting for costs of real estate projects. Under this method, we reduce the allocated cost of a unit from inventory and recognize that cost as cost of sales when we recognize the related sale. Changes in estimates within the relative sales value calculations for residential products (similar to condominiums) are accounted for as prospective adjustments to cost of vacation ownership products.
Capitalization of Costs	Capitalization of Costs We capitalize costs clearly associated with the acquisition of real estate when a transaction is accounted for as an asset acquisition under ASC 805, “ Business Combinations ” (“ASC 805”) . Alternatively, when acquired real estate constitutes a business under ASC 805, transaction costs are expensed as incurred. We capitalize interest and certain salaries and related costs incurred in connection with the following: (1) development and construction of sales centers; (2) internally developed software; and (3) development and construction projects for our real estate inventory. We capitalize costs clearly associated with the development and construction of a real estate project when it is probable that we will acquire a property. We capitalize salary and related costs only to the extent they directly relate to the project. We capitalize interest expense, taxes and insurance costs when activities that are necessary to get the property ready for its intended use are underway. We cease capitalization of costs during prolonged gaps in development when substantially all activities are suspended or when projects are considered substantially complete.
Defined Contribution Plan	Defined Contribution Plan We administer and maintain a defined contribution plan for the benefit of all employees meeting certain eligibility requirements who elect to participate in the plan. Contributions are determined based on a specified percentage of salary deferrals by participating employees. We recognized compensation expense (net of cost reimbursements from property owners’ associations) for our participating employees totaling $10 million in 2017 , $8 million in 2016 and $7 million in 2015 .
Deferred Compensation Plan	Deferred Compensation Plan Prior to the Spin-Off, certain members of our senior management had the opportunity to participate in the Marriott International, Inc. Executive Deferred Compensation Plan (the “Marriott International EDC”), which Marriott International maintains and administers. Under the Marriott International EDC, participating employees were able to defer payment and income taxation of a portion of their salary and bonus. Participants also had the opportunity for long-term capital appreciation by crediting their accounts with notional earnings (at a fixed annual rate of return of 4.0 percent for 2017 and 4.5 percent for 2016 ). Although additional discretionary contributions to the participants’ accounts under the Marriott International EDC may be made, no additional discretionary contributions were made for our employees in 2017 , 2016 and 2015 . Subsequent to the Spin-Off, we remain liable to reimburse Marriott International for distributions for participants that were employees of Marriott Vacations Worldwide at the time of the Spin-Off including earnings thereon. Since 2014, certain members of our senior management have had the opportunity to participate in the Marriott Vacations Worldwide Deferred Compensation Plan (the “Deferred Compensation Plan”), which we maintain and administer. Under the Deferred Compensation Plan, participating employees may defer payment and income taxation of a portion of their salary and bonus. It also gives participants the opportunity for long-term capital appreciation by crediting their accounts with notional earnings. Since the beginning of our 2017 fiscal year, participants in the Deferred Compensation Plan have been able to select a rate of return based on various market-based investment alternatives for a portion of their contributions, as well as any future Company contributions, to the Deferred Compensation Plan, and may also select such a rate for a portion of their existing account balances. To support our ability to meet a portion of our obligations under the Deferred Compensation Plan, we acquired company owned insurance policies (the “COLI policies”) on the lives of certain participants in the Deferred Compensation Plan, the proceeds of which are intended to be aligned with the investment alternatives elected by plan participants and are payable to a rabbi trust with the Company as grantor. For 2017, at least 25 percent of a participant’s contributions to the Deferred Compensation Plan was required to be subject to a fixed rate of return, which was 3.5 percent for 2017 and 5.6 percent for 2016 ; the rate was reduced in connection with the introduction of the market-based investment alternatives. For 2018, participants may select a rate of return based on market-based investment alternatives for up to 100 percent of their contributions and existing balances. We consolidate the liabilities of the Deferred Compensation Plan and the related assets, which consist of the COLI policies held in the rabbi trust. The rabbi trust is considered a variable interest entity (“VIE”). We are considered the primary beneficiary of the rabbi trust because we direct the activities of the trust and are the beneficiary of the trust. At December 31, 2017 , the value of the assets held in the rabbi trust was $14 million , which is included in the Other line within assets on our Balance Sheets.
Property and Equipment	Property and Equipment Property and equipment includes our sales centers, golf courses, information technology and other assets used in the normal course of business, as well as undeveloped and partially developed land parcels that are not part of an approved development plan and do not meet the criteria to be classified as held for sale. In addition, fully developed vacation ownership interests are classified as property and equipment until they are registered for sale. We record property and equipment at cost, including interest and real estate taxes incurred during active development. We capitalize the cost of improvements that extend the useful life of property and equipment when incurred. These capitalized costs may include structural costs, equipment, fixtures, floor and decorative items and signage. We expense all repair and maintenance costs as incurred. We compute depreciation using the straight-line method over the estimated useful lives of the assets ( three to forty years), and we amortize leasehold improvements over the shorter of the asset life or lease term.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider all highly liquid investments with an initial purchase maturity of three months or less at the date of purchase to be cash equivalents.
Restricted Cash	Restricted Cash Restricted cash primarily consists of cash held in a reserve account related to vacation ownership notes receivable securitizations, cash collected for maintenance fees to be remitted to property owners’ associations, and deposits received, primarily associated with vacation ownership products and residential sales that are held in escrow until the associated contract has closed or the period in which it can be rescinded has passed, depending on legal requirements.
Loan Loss Reserves	Loan Loss Reserves We record the difference between the vacation ownership note receivable and the variable consideration included in the transaction price for the sale of the related vacation ownership product as a reserve on our vacation ownership notes receivable. See “ Financing Revenues ” above for further information. 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 and fully reserve such amounts. 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 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 Asia Pacific or Europe, when revocation is complete. For both non-securitized and securitized vacation ownership notes receivable, we estimated average remaining default rates of 7.16 percent and 7.09 percent as of December 31, 2017 and December 30, 2016 , respectively. A 0.5 percent age point increase in the estimated default rate would have resulted in an increase in our vacation ownership notes receivable reserve of $6 million and $5 million as of December 31, 2017 and December 30, 2016 , respectively. For additional information on our vacation ownership notes receivable, including information on the related reserves, see Footnote 4 “Vacation Ownership Notes Receivable.”
Variable Interest Entities	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.
Costs Incurred to Sell Vacation Ownership Products	Costs Incurred to Sell Vacation Ownership Products We charge marketing and sales costs we incur to sell vacation ownership products to expense when incurred.
Valuation of Property and Equipment	Valuation of Property and Equipment Property and equipment includes our sales centers, golf courses, operating properties, information technology and other assets used in the normal course of business, as well as undeveloped and partially developed land parcels that are not part of an approved development plan and do not meet the criteria to be classified as held for sale. We test long-lived asset groups for recoverability when changes in circumstances indicate the carrying value may not be recoverable, for example, when there are material adverse changes in projected revenues or expenses, significant underperformance relative to historical or projected operating results, or significant negative industry or economic trends. We evaluate recoverability of an asset group by comparing its carrying value to the future net undiscounted cash flows that we expect will be generated by the asset group. If the comparison indicates that the carrying value of an asset group is not recoverable, we recognize an impairment loss for the excess of carrying value over the estimated fair value. When we recognize an impairment loss for assets to be held and used, we depreciate the adjusted carrying amount of those assets over their remaining useful life.
Fair Value Measurements	Fair Value Measurements We have few financial instruments that we must measure at fair value on a recurring basis. See Footnote 5 “Financial Instruments” for further information. We also apply the provisions of fair value measurement to various non-recurring measurements for our financial and non-financial assets and liabilities. The applicable accounting standards define fair value as the price that would be received upon selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). We measure fair value of our assets and liabilities using inputs from the following three levels of the fair value hierarchy: Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that we have the ability to access at the measurement date. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). Level 3 includes unobservable inputs that reflect our assumptions about what factors market participants would use in pricing the asset or liability. We develop these inputs based on the best information available, including our own data.
Derivative Instruments	Derivative Instruments From time to time, we may use derivative instruments to reduce market risk due to changes in interest rates and currency exchange rates, including interest rate derivatives that we may be required to enter into as a condition of our $250 million non-recourse warehouse credit facility (the “Warehouse Credit Facility”). As of December 31, 2017 , we were not party to any material derivative instruments or hedges. The designation of a derivative instrument as a hedge and its ability to meet the hedge accounting criteria determines how the change in fair value of the derivative instrument is recorded on our Financial Statements. A derivative qualifies for hedge accounting if, at inception, we expect the derivative to be highly effective in offsetting the underlying hedged cash flows or fair value and we fulfill the hedge documentation standards at the time we enter into the derivative contract. We designate a hedge as a cash flow hedge, fair value hedge, or a net investment in non-U.S. operations hedge based on the exposure we are hedging. The asset or liability value of the derivative will change in tandem with its fair value. For the effective portion of qualifying hedges, we record changes in fair value in other comprehensive income (“OCI”). We release the derivative’s gain or loss from OCI to match the timing of the underlying hedged items’ effect on earnings. As a matter of policy, we only enter into hedging transactions that we believe will be highly effective at offsetting the underlying risk and do not use derivatives for trading or speculative purposes.
Non-U.S. Operations	Non-U.S. Operations The U.S. dollar is the functional currency of our consolidated entities operating in the United States. The functional currency for our consolidated entities operating outside of the United States is generally the currency of the economic environment in which the entity primarily generates and expends cash. For consolidated entities whose functional currency is not the U.S. dollar, we translate their financial statements into U.S. dollars. We translate assets and liabilities at the exchange rate in effect as of the financial statement date and translate Income Statement accounts using the weighted average exchange rate for the period. We include translation adjustments from currency exchange and the effect of exchange rate changes on intercompany transactions of a long-term investment nature as a separate component of equity. We report gains and losses from currency exchange rate changes related to intercompany receivables and payables that are not of a long-term investment nature, as well as gains and losses from non-U.S. currency transactions, currently in operating costs and expenses.
Loss Contingencies	Loss Contingencies We are subject to various legal proceedings and claims in the normal course of business, the outcomes of which are subject to significant uncertainty. We record an accrual for loss contingencies when we determine that it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. In making such determinations we evaluate, among other things, the degree of probability of an unfavorable outcome and, when it is probable that a liability has been incurred, our ability to make a reasonable estimate of the loss. We review these accruals each reporting period and make revisions based on changes in facts and circumstances.
Share-Based Compensation Costs	Share-Based Compensation Costs We established the Marriott Vacations Worldwide Corporation Stock and Cash Incentive Plan (the “Stock Plan”) in order to compensate our employees and directors by granting them equity awards such as restricted stock units (“RSUs”), stock appreciation rights (“SARs”) and stock options. We follow the provisions of ASC 718, “ Compensation—Stock Compensation, ” which requires that a company measure the expense of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. Generally, share-based awards granted to our employees, other than RSUs with performance vesting conditions, vest ratably over a four -year period. For share-based awards with service-only vesting conditions, we record compensation expense on a straight-line basis over the requisite service period. For RSUs with performance vesting conditions, the number of RSUs earned, if any, is determined following the end of a three -year performance period based upon the cumulative achievement over that period of specific quantitative operating financial measures and we recognize compensation expense once it is probable that the corresponding performance condition will be achieved. SARs awarded under the Stock Plan are granted at exercise prices or strike prices equal to the market price of our common stock on the date of grant (this price is referred to as the “base value”). SARs generally expire ten years after the date of grant and both vest and become exercisable in cumulative installments of one quarter of the grant at the end of each of the first four years following the date of grant. Upon exercise of SARs, our employees and non-employee directors receive a number of shares of our common stock equal to the number of SARs being exercised, multiplied by the quotient of (a) the market price of the common stock on the date of exercise (this price is referred to as the “final value”) minus the base value, divided by (b) the final value. We recognize the expense associated with these awards on our Income Statements based on the fair value of the awards as of the date that the share-based awards are granted and adjust that expense to the estimated number of awards that we expect will vest or be earned. The fair value of RSUs represents the number of awards granted multiplied by the average of the high and low market price of our common stock on the date the awards are granted reduced by the present value of the dividends expected to be paid on the shares during the vesting period, discounted at a risk-free interest rate. We generally determine the fair value of SARs using the Black-Scholes option valuation model which incorporates assumptions about expected volatility, risk free interest rate, dividend yield and expected term. We will issue shares from authorized shares upon the exercise of SARs or stock options held by our employees and directors. For share-based awards granted to non-employee directors, we recognize compensation expense on the grant date based on the fair value of the awards as of that date. See Footnote 13 “Share-Based Compensation” for more information.
Convertible Senior Notes	Convertible Senior Notes In accounting for the 1.50% Convertible Senior Notes due 2022 (the “Convertible Notes”), we separated them into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar liability that does not have an associated convertible feature. The carrying amount of the equity component representing the conversion option was determined by deducting the fair value of the liability component from the par value of the Convertible Notes. The excess of the principal amount of the liability over its carrying amount is amortized to interest expense over the term of the Convertible Notes using the effective interest method. The equity component is not remeasured as long as it continues to meet the conditions for equity classification. In accounting for the issuance costs related to the Convertible Notes, we allocated the total amount incurred to the liability and equity components based on their relative values. Issuance costs attributable to the liability component are amortized to interest expense over the term of the Convertible Notes, and issuance costs attributable to the equity component are included along with the equity component in additional paid-in capital within stockholders’ equity. See Footnote 11 “Debt” for more information.
Income Taxes	Income Taxes We file income tax returns, including with respect to our subsidiaries, in various jurisdictions around the world. We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. Changes in existing tax laws and rates, their related interpretations, and the uncertainty generated by the current economic environment may affect the amounts of deferred tax liabilities or the valuations of deferred tax assets over time. Our accounting for deferred tax consequences represents management’s best estimate of future events that can be appropriately reflected in the accounting estimates. We record net deferred tax assets to the extent we believe these assets will more likely than not be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. In the event we determine that we would be able to realize our deferred income tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which impacts the provision for income taxes. For tax positions we have taken, or expect to take, in a tax return we apply a more likely than not threshold, under which we must conclude a tax position is more likely than not to be sustained, assuming that the position will be examined by the appropriate taxing authority that has full knowledge of all relevant information, in order to continue to recognize the benefit. In determining our provision for income taxes, we use judgment, reflecting our estimates and assumptions, in applying the more likely than not threshold. We do not have any significant unrecognized tax benefits as of December, 31, 2017, December 30, 2016 or January 1, 2016, that, if recognized, would impact our effective tax rate for 2017, 2016 or 2015, respectively. We do not expect that our unrecognized tax benefits as of December 31, 2017 will change significantly within the next twelve months. Additionally, we recognize accrued interest and penalties related to our unrecognized tax benefits as a component of tax expense. For information about income taxes and deferred tax assets and liabilities, see Footnote 3 “Income Taxes.”
Earnings Per Common Share	Earnings Per Common Share Basic earnings per common share is calculated by dividing the earnings available to common shareholders by the weighted average number of common shares outstanding for the period. 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 methods.
New Accounting Standards	New Accounting Standards Accounting Standards Update No. 2017-09 – “ Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting ” (“ASU 2017-09”) In May 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-09, which clarifies when changes to the terms or conditions of a share-based payment award must be accounted for as modifications for the purpose of applying the modification guidance in Accounting Standards Codification Topic 718. This update is effective for all entities for annual periods beginning after December 15, 2017, and for interim periods within those annual periods, with early adoption permitted. Our early adoption of ASU 2017-09 in the 2017 second quarter did not have an impact on our financial statements or disclosures. Accounting Standards Update No. 2016-18 – “ Restricted Cash ” (“ASU 2016-18”) In November 2016, the FASB issued ASU 2016-18, which requires entities to show the changes in the total of cash, cash equivalents, restricted cash and restricted cash equivalents in the statement of cash flows. As a result, we no longer present changes in restricted cash as a component of investing activities. This update is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. We early adopted ASU 2016-18 on a retrospective basis commencing in the 2017 first quarter. Accounting Standards Update No. 2016-09 – “ Compensation – Stock Compensation (Topic 718) ” (“ASU 2016-09”) In March 2016, the FASB issued ASU 2016-09, which changes how entities account for certain aspects of share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The new guidance requires all income tax effects of awards, including excess tax benefits, to be recorded as income tax expense (or benefit) in the income statement, which resulted in benefits to our provision for income taxes of $6 million in 2017. The new guidance requires excess tax benefits to be presented as an operating inflow rather than as a financing inflow in the statement of cash flows. Prior to the adoption of ASU 2016-09, excess tax benefits were recorded in additional paid-in-capital on the balance sheet. This update is effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. We adopted ASU 2016-09 in the 2017 first quarter. The adoption of ASU 2016-09 decreased our provision for income taxes, the amount of which depends on the vesting activity of our share-based compensation awards in any given period, and eliminated the presentation of excess tax benefits as a financing inflow on our statement of cash flows. Further, we made an accounting policy election to recognize forfeitures of share-based compensation awards as they occur, the cumulative effect of which resulted in an adjustment of less than $1 million to opening retained earnings. The adoption of ASU 2016-09 did not have any other material impacts on our financial statements or disclosures. Accounting Standards Update 2014-09 – “ Revenue from Contracts with Customers (Topic 606) ” (“ASU 2014-09”), as Amended In May 2014, the FASB issued ASU 2014-09, which, as amended, creates ASC Topic 606, “ Revenue from Contracts with Customers ” (“ASC 606”), and supersedes the revenue recognition requirements in ASC Topic 605, “ Revenue Recognition, ” including most industry-specific guidance, and significantly enhances comparability of revenue recognition practices across entities and industries by providing a principle-based, comprehensive framework for addressing revenue recognition issues. In order for a provider of promised goods or services to recognize as revenue the consideration that it expects to receive in exchange for the promised goods or services, the provider should apply the following five steps: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. ASU 2014-09, as amended, is effective for annual reporting periods, and interim periods within those reporting periods, beginning after December 15, 2017. The new standard may be applied retrospectively or on a modified retrospective basis with the cumulative effect recognized on the date of adoption. We adopted ASU 2014-09, as amended, effective January 1, 2018, on a retrospective basis and have restated our previously reported historical results within these Financial Statements. See Footnote 17 “Adoption Impact of New Revenue Standard” for further discussion of adoption and the impact on our previously reported historical results and see Footnote 2 “Revenue” for additional information on how we recognize revenue.
Future Adoption of Accounting Standards	Future Adoption of Accounting Standards Accounting Standards Update No. 2017-12 – “ Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities ” (“ASU 2017-12”) In August 2017, the FASB issued ASU 2017-12, which amends and simplifies existing guidance in order to allow companies to better portray the economic effects of risk management activities in their financial statements and enhance the transparency and understandability of the results of hedging activities. ASU 2017-12 eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. The guidance also eases certain documentation and assessment requirements. This update is effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. We are evaluating the impact that ASU 2017-12, including the timing of implementation, will have on our financial statements and disclosures. Accounting Standards Update No. 2016-16 – “ Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory ” (“ASU 2016-16”) In October 2016, the FASB issued ASU 2016-16, which changes the timing of when certain intercompany transactions are recognized within the provision for income taxes. This update is effective for public companies for annual periods beginning after December 15, 2017, and for annual periods and interim periods thereafter, with early adoption permitted. We adopted ASU 2016-16 on January 1, 2018. We do not expect the adoption of ASU 2016-16 to have a material impact on our financial statements or disclosures. Accounting Standards Update No. 2016-13 – “ Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments ” (“ASU 2016-13”) In June 2016, the FASB issued ASU 2016-13, which replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses. The update is intended to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. This update is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted for fiscal periods beginning after December 15, 2018. We are evaluating the impact that ASU 2016-13, including the timing of implementation, will have on our financial statements and disclosures. Accounting Standards Update No. 2016-02 – “ Leases (Topic 842) ” (“ASU 2016-02”) In February 2016, the FASB issued ASU 2016-02 to increase transparency and comparability of information regarding an entity’s leasing activities by providing additional information to users of financial statements. ASU 2016-02 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. The new standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, although an option to use transition relief to not restate or make required disclosures in comparative periods in the period of adoption was recently exposed by the FASB for public comment. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. Although we expect to adopt ASU 2016-02 commencing in fiscal year 2019 and are continuing our implementation efforts, we continue to evaluate the impact that adoption of this update will have on our financial statements and disclosures, but we expect that it will have a material effect on our balance sheets. Accounting Standards Update No. 2016-01 – “ Financial Instruments – Overall (Subtopic 825-10) ” (“ASU 2016-01”) In January 2016, the FASB issued ASU 2016-01, which updates certain aspects of recognition, measurement, presentation and disclosure of financial instruments. For public business entities, the amendments in ASU 2016-01 will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. We do not expect the adoption of ASU 2016-01 to have a material impact on our financial statements.

SUMMARY OF SIGNIFICANT ACCOUN27

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Each Reference to Particular Year in These Financial Statements Means Fiscal Year Ended on Date Shown	Fiscal Year Fiscal Year-End Date Number of Days 2017 December 31, 2017 366 2016 December 30, 2016 364 2015 January 1, 2016 364

REVENUE (Tables)

REVENUE (Tables)	12 Months Ended
	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following series of tables present our revenue disaggregated by several categories. Sources of Revenue by Segment 2017 ($ in millions) North America Asia Pacific Europe Total Sale of vacation ownership products $ 692 $ 42 $ 23 $ 757 Ancillary revenues 101 — 17 118 Management fee revenues 80 3 6 89 Other services revenues 69 1 2 72 Resort management and other services 250 4 25 279 Rental 232 10 20 262 Cost reimbursements 698 7 45 750 Revenue from contracts with customers $ 1,872 $ 63 $ 113 $ 2,048 Financing 128 4 3 135 Total Revenues $ 2,000 $ 67 $ 116 $ 2,183 2016 ($ in millions) North America Asia Pacific Europe Total Sale of vacation ownership products $ 559 $ 40 $ 24 $ 623 Ancillary revenues 102 6 16 124 Management fee revenues 76 2 6 84 Other services revenues 66 2 2 70 Resort management and other services 244 10 24 278 Rental 219 15 18 252 Cost reimbursements 670 5 45 720 Revenue from contracts with customers $ 1,692 $ 70 $ 111 $ 1,873 Financing 120 4 3 127 Total Revenues $ 1,812 $ 74 $ 114 $ 2,000 2015 ($ in millions) North America Asia Pacific Europe Total Sale of vacation ownership products $ 605 $ 58 $ 30 $ 693 Ancillary revenues 101 7 17 125 Management fee revenues 70 3 6 79 Other services revenues 61 2 2 65 Resort management and other services 232 12 25 269 Rental 227 14 19 260 Cost reimbursements 667 5 48 720 Revenue from contracts with customers $ 1,731 $ 89 $ 122 $ 1,942 Financing 117 4 4 125 Total Revenues $ 1,848 $ 93 $ 126 $ 2,067 Timing of Revenue from Contracts with Customers by Segment 2017 ($ in millions) North America Asia Pacific Europe Total Services transferred over time $ 815 $ 44 $ 40 $ 899 Goods or services transferred at a point in time 1,057 19 73 1,149 Revenue from contracts with customers $ 1,872 $ 63 $ 113 $ 2,048 2016 ($ in millions) North America Asia Pacific Europe Total Services transferred over time $ 681 $ 47 $ 41 $ 769 Goods or services transferred at a point in time 1,011 23 70 1,104 Revenue from contracts with customers $ 1,692 $ 70 $ 111 $ 1,873 2015 ($ in millions) North America Asia Pacific Europe Total Services transferred over time $ 728 $ 67 $ 48 $ 843 Goods or services transferred at a point in time 1,003 22 74 1,099 Revenue from contracts with customers $ 1,731 $ 89 $ 122 $ 1,942
Contract with Customer, Asset and Liability	The following table shows the composition of our receivables and contract liabilities. We had no contract assets at either December 31, 2017 or December 30, 2016. ($ in millions) At Year-End 2017 At Year End 2016 Receivables Accounts receivable $ 73 $ 55 Vacation ownership notes receivable, net 1,115 970 $ 1,188 $ 1,025 Contract Liabilities Advance deposits $ 84 $ 82 Deferred revenue 69 59 $ 153 $ 141

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income (Loss) Before Provision for Income Taxes by Geographic Region	The components of our earnings before income taxes for the last three years consisted of: ($ in millions) 2017 2016 2015 United States $ 232 $ 195 $ 205 Non-U.S. jurisdictions 8 3 9 $ 240 $ 198 $ 214
Provision for Income Taxes	Our provision for income taxes for the last three years consisted of: ($ in millions) 2017 2016 2015 Current – U.S. Federal $ (49 ) $ (35 ) $ (45 ) – U.S. State (7 ) (5 ) (4 ) – Non-U.S. (7 ) (5 ) (7 ) (63 ) (45 ) (56 ) Deferred – U.S. Federal 44 (30 ) (28 ) – U.S. State (1 ) (2 ) (5 ) – Non-U.S. 15 1 2 58 (31 ) (31 ) $ (5 ) $ (76 ) $ (87 )
Deferred Tax Assets and Liabilities	The following table presents our deferred tax assets and liabilities, and the tax effect of each type of temporary difference and carry-forward that gave rise to a significant portion of our deferred tax assets and liabilities at December 31, 2017 and December 30, 2016 : ($ in millions) At Year-End 2017 At Year-End 2016 Deferred Tax Assets Inventory $ 25 $ 25 Reserves 30 39 Long lived intangible assets 16 31 Net operating loss carry-forwards 39 49 Tax credits 39 21 Other, net 44 40 Deferred tax assets 193 205 Less valuation allowance (44 ) (48 ) Net deferred tax assets 149 157 Deferred Tax Liabilities Property and equipment (16 ) (16 ) Deferred sales of vacation ownership interests (210 ) (277 ) Deferred tax liabilities (226 ) (293 ) Total net deferred tax liabilities $ (77 ) $ (136 )
Reconciliation of US Statutory Income Tax Rate to Effective Tax Rate	The following table reconciles the U.S. statutory income tax rate to our effective income tax rate: 2017 2016 2015 U.S. statutory income tax rate 35.00% 35.00% 35.00% U.S. state income taxes, net of U.S. federal tax benefit 2.50 2.47 2.64 Permanent differences (1) (0.58) 1.16 1.61 Impact related to the Tax Cuts and Jobs Act (27.12) — — Excess tax benefits related to share-based compensation (2.54) — — Foreign tax rate changes (2.01) 0.05 0.01 Non-U.S. (loss) income (2) (2.61) 0.08 (0.57) Other items (3) (0.79) (1.06) 1.14 Change in valuation allowance (4) 0.03 0.78 0.72 Effective rate 1.88% 38.48% 40.55% _________________________ (1) Attributed to the redemption of the mandatorily redeemable preferred stock of a consolidated subsidiary. (2) Attributed to the difference between U.S. and foreign income tax rates and other foreign adjustments. (3) Attributed to changes in unrecognized tax benefits and U.S. federal tax incentives. (4) Primarily attributed to release of a foreign valuation allowance in 2017. Primarily attributed to the establishment of valuation allowances in foreign jurisdictions for losses that cannot be benefited in the U.S. income tax provision in 2016 and 2015, as discussed above.

VACATION OWNERSHIP NOTES RECE30

VACATION OWNERSHIP NOTES RECEIVABLE (Tables)	12 Months Ended
	Dec. 31, 2017
Receivables [Abstract]
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 millions) At Year-End 2017 At Year-End 2016 Vacation ownership notes receivable — securitized $ 814 $ 717 Vacation ownership notes receivable — non-securitized Eligible for securitization (1) 142 98 Not eligible for securitization (1) 159 155 Subtotal 301 253 Total vacation ownership notes receivable $ 1,115 $ 970 _________________________ (1) Refer to Footnote 5 “Financial Instruments” for discussion of eligibility of our vacation ownership notes receivable for securitization.
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 December 31, 2017 : ($ in millions) Non-Securitized Vacation Ownership Notes Receivable Securitized Vacation Ownership Notes Receivable Total 2018 $ 48 $ 94 $ 142 2019 35 91 126 2020 30 92 122 2021 26 93 119 2022 24 92 116 Thereafter 138 352 490 Balance at year-end 2017 $ 301 $ 814 $ 1,115 Weighted average stated interest rate at year-end 2017 11.5% 12.6% 12.3% Range of stated interest rates at year-end 2017 0.0% to 18.0% 4.9% to 18.0% 0.0% to 18.0%
Interest Income Associated with Vacation Ownership Notes Receivable	The following table summarizes interest income associated with vacation ownership notes receivable: ($ in millions) 2017 2016 2015 Interest income associated with vacation ownership notes receivable – securitized $ 101 $ 97 $ 90 Interest income associated with vacation ownership notes receivable – non-securitized 27 23 28 Total interest income associated with vacation ownership notes receivable $ 128 $ 120 $ 118
Notes Receivable Reserves	The following table summarizes the activity related to our vacation ownership notes receivable reserve: ($ in millions) Non-Securitized Securitized Total Balance at year-end 2014 $ 65 $ 53 $ 118 Impact of adoption of ASU 2014-09 1 1 2 Opening balance 2015 66 54 120 Increase in vacation ownership notes receivable reserve 25 11 36 Securitizations (16 ) 16 — Clean-up calls (1) 7 (7 ) — Write-offs (48 ) — (48 ) Defaulted vacation ownership notes receivable repurchase activity (2) 25 (25 ) — Balance at year-end 2015 59 49 108 Increase in vacation ownership notes receivable reserve 27 17 44 Securitizations (28 ) 28 — Clean-up of Warehouse Credit Facility (3) 10 (10 ) — Write-offs (40 ) — (40 ) Defaulted vacation ownership notes receivable repurchase activity (2) 30 (30 ) — Balance at year-end 2016 58 54 112 Increase in vacation ownership notes receivable reserve 42 10 52 Securitizations (29 ) 29 — Clean-up of Warehouse Credit Facility (3) 4 (4 ) — Write-offs (45 ) — (45 ) Defaulted vacation ownership notes receivable repurchase activity (2) 28 (28 ) — Balance at year-end 2017 $ 58 $ 61 $ 119 _________________________ (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 defaulted securitized vacation ownership notes receivable. (3) Refers to our voluntary repurchase of previously securitized non-defaulted vacation ownership notes receivable from our Warehouse Credit Facility.
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. As noted in Footnote 1 “Summary of Significant Accounting Policies” we recognize interest income on a cash basis for these vacation ownership notes receivable. ($ in millions) Non-Securitized Vacation Ownership Notes Receivable Securitized Vacation Ownership Notes Receivable Total Investment in vacation ownership notes receivable on non-accrual status at year-end 2017 $ 39 $ 7 $ 46 Investment in vacation ownership notes receivable on non-accrual status at year-end 2016 $ 44 $ 6 $ 50 Average investment in vacation ownership notes receivable on non-accrual status during 2017 $ 41 $ 7 $ 48
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 December 31, 2017 : ($ in millions) Non-Securitized Vacation Ownership Notes Receivable Securitized Vacation Ownership Notes Receivable Total 31 – 90 days past due $ 7 $ 19 $ 26 91 – 150 days past due 5 7 12 Greater than 150 days past due 34 — 34 Total past due 46 26 72 Current 313 849 1,162 Total vacation ownership notes receivable $ 359 $ 875 $ 1,234 The following table shows the aging of the recorded investment in principal, before reserves, in vacation ownership notes receivable as of December 30, 2016 : ($ in millions) Non-Securitized Securitized Total 31 – 90 days past due $ 8 $ 16 $ 24 91 – 150 days past due 4 7 11 Greater than 150 days past due 40 — 40 Total past due 52 23 75 Current 259 748 1,007 Total vacation ownership notes receivable $ 311 $ 771 $ 1,082

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2017
Investments, All Other Investments [Abstract]
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 Year-End 2017 At Year-End 2016 ($ in millions) Carrying Amount Fair Carrying Amount Fair Vacation ownership notes receivable Eligible for securitization $ 142 $ 162 $ 98 $ 112 Not eligible for securitization 159 159 155 155 Total non-securitized $ 301 $ 321 $ 253 $ 267 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 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 Year-End 2017 At Year-End 2016 ($ in millions) Carrying Fair (1) Carrying Fair (1) Vacation ownership notes receivable — securitized $ 814 $ 955 $ 717 $ 834 Vacation ownership notes receivable — non-securitized 301 321 253 267 Other assets 14 14 — — Total financial assets $ 1,129 $ 1,290 $ 970 $ 1,101 Non-recourse debt associated with vacation ownership notes receivable securitizations, net $ (835 ) $ (836 ) $ (729 ) $ (726 ) Convertible notes, net (192 ) (260 ) — — Non-interest bearing note payable, net (61 ) (61 ) — — Total financial liabilities $ (1,088 ) $ (1,157 ) $ (729 ) $ (726 ) _________________________ (1) Fair value of financial instruments, with the exception of other assets and convertible notes, has been determined using Level 3 inputs. Fair value of other assets and convertible notes that are financial instruments has been determined using Level 2 inputs.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2017
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. (in millions, except per share amounts) 2017 (1) 2016 (2) 2015 (3) Computation of Basic Earnings Per Share Net income $ 235 $ 122 $ 127 Shares for basic earnings per share 27.1 27.9 31.5 Basic earnings per share $ 8.70 $ 4.37 $ 4.04 Computation of Diluted Earnings Per Share Net income $ 235 $ 122 $ 127 Shares for basic earnings per share 27.1 27.9 31.5 Effect of dilutive shares outstanding Employee stock options and SARs 0.4 0.3 0.5 Restricted stock units 0.2 0.2 0.2 Shares for diluted earnings per share 27.7 28.4 32.2 Diluted earnings per share $ 8.49 $ 4.29 $ 3.95 _________________________ (1) The computations of diluted earnings per share exclude approximately 238,000 shares of common stock, the maximum number of shares issuable as of December 31, 2017 upon the vesting of certain performance-based awards, because the performance conditions required to be met 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 217,000 shares of common stock, the maximum number of shares issuable as of December 30, 2016 upon the vesting of certain performance-based awards, because the performance conditions required to be met for the shares subject to such awards to vest were not achieved by the end of the reporting period. (3) The computations of diluted earnings per share exclude approximately 136,000 shares of common stock, the maximum number of shares issuable as of January 1, 2016 upon the vesting of certain performance-based awards, because the performance conditions required to be met for the shares subject to such awards to vest were not achieved by the end of the reporting period.

INVENTORY (Tables)

INVENTORY (Tables)	12 Months Ended
	Dec. 31, 2017
Inventory Disclosure [Abstract]
Composition of Inventory	The following table shows the composition of our inventory balances: ($ in millions) At Year-End 2017 At Year End 2016 Finished goods (1) $ 391 $ 352 Work-in-progress 2 40 Land and infrastructure (2) 330 331 Real estate inventory 723 723 Operating supplies and retail inventory 5 4 $ 728 $ 727 _________________________ (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 $68 million of inventory related to estimated future foreclosures at December 31, 2017 .

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Composition of Property and Equipment	The following table details the composition of our property and equipment balances: ($ in millions) At Year-End 2017 At Year-End 2016 Land $ 60 $ 55 Buildings and leasehold improvements 259 213 Furniture and equipment 54 51 Information technology 185 180 Construction in progress 23 28 581 527 Accumulated depreciation (328 ) (324 ) $ 253 $ 203

CONTINGENCIES AND COMMITMENTS (

CONTINGENCIES AND COMMITMENTS (Tables)	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Summary of Future Obligations Under Operating Leases	We have summarized our future obligations under operating leases at December 31, 2017 below: ($ in millions) Land Corporate Other Total 2018 $ 1 $ 3 $ 13 $ 17 2019 1 4 10 15 2020 1 4 8 13 2021 1 3 5 9 2022 1 — 6 7 Thereafter 7 — 28 35 Total minimum lease payments $ 12 $ 14 $ 70 $ 96
Composition of Rental Expense Associated with Operating Leases	The following table details the composition of rent expense associated with operating leases, net of sublease income, for the last three years: ($ in millions) 2017 2016 2015 Minimum rentals $ 9 $ 8 $ 9 Additional rentals 4 4 4 $ 13 $ 12 $ 13

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Debt Balances, Net of Unamortized Debt Issuance Costs	The following table provides detail on our debt balances, net of unamortized debt discount and issuance costs: ($ in millions) At Year-End 2017 At Year-End 2016 Vacation ownership notes receivable securitizations, gross (1) $ 845 $ 738 Unamortized debt issuance costs (10 ) (9 ) 835 729 Convertible notes, gross (2) 230 — Unamortized debt discount and issuance costs (38 ) — 192 — Non-interest bearing note payable 64 — Unamortized debt discount (3) (3 ) — 61 — Other debt, gross — 1 Unamortized debt issuance costs — — — 1 Capital leases 7 7 $ 1,095 $ 737 _________________________ (1) Interest rates as of December 31, 2017 range from 2.2% to 6.3% with a weighted average interest rate of 2.5% . (2) The effective interest rate as of December 31, 2017 was 4.7% . (3) Debt discount based on imputed interest rate of 6.0% .
Scheduled Future Principal Payments for Debt	The following table shows scheduled future principal payments for our debt as of December 31, 2017 : ($ in millions) Vacation Ownership Notes Receivable Securitizations (1) Convertible Notes Non-Interest Bearing Note Payable Capital Leases Total Debt Principal Payments Year 2018 $ 95 $ — $ 33 $ — $ 128 2019 92 — 31 7 130 2020 94 — — — 94 2021 95 — — — 95 2022 94 230 — — 324 Thereafter 375 — — — 375 $ 845 $ 230 $ 64 $ 7 $ 1,146 _________________________ (1) The debt associated with our vacation ownership notes receivable securitizations is non-recourse to us.
Convertible Debt	The following table shows the net carrying value of the Convertible Notes: ($ in millions) At Year-End 2017 Liability component Principal amount $ 230 Unamortized debt discount (32 ) Unamortized debt issuance costs (6 ) $ 192 Equity component, net of issuance costs $ 33 The following table shows the total interest expense related to the Convertible Notes: ($ in millions) 2017 Contractual interest expense $ 1 Amortization of debt discount 2 Amortization of debt issuance costs — $ 3

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2017
Equity [Abstract]
Stock Repurchase Activity under Current Stock Repurchase Program	The following table summarizes share repurchase activity under our current share repurchase program: ($ in millions, except per share amounts) Number of Cost of Shares Average Price As of December 30, 2016 9,672,629 $ 609 $ 62.90 For the year ended December 31, 2017 767,876 88 115.00 As of December 31, 2017 10,440,505 $ 697 $ 66.73
Cash Dividend Declared	We declared cash dividends to holders of common stock during the year ended December 31, 2017 as follows: Declaration Date Shareholder Record Date Distribution Date Dividend per Share February 9, 2017 February 23, 2017 March 9, 2017 $0.35 May 11, 2017 May 25, 2017 June 8, 2017 $0.35 September 7, 2017 September 21, 2017 October 5, 2017 $0.35 December 7, 2017 December 21, 2017 January 4, 2018 $0.40

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Compensation Cost for Share-based Payment	The following table details our share-based compensation expense related to award grants to our officers, directors and employees: ($ in millions) 2017 2016 2015 Service based RSUs $ 10 $ 9 $ 9 Performance based RSUs 4 3 3 14 12 12 SARs 2 2 2 Stock options — — — $ 16 $ 14 $ 14
Schedule of Unrecognized Compensation Cost	The following table details our deferred compensation costs related to unvested awards: ($ in millions) At Year-End 2017 (1) At Year-End 2016 Service based RSUs $ 9 $ 9 Performance based RSUs 5 3 14 12 SARs 1 1 Stock options — — $ 15 $ 13 _________________________ (1) As of December 31, 2017 , the weighted average remaining term for RSU grants outstanding at year-end 2017 was 1.8 years and we expect that deferred compensation expense will be recognized over a weighted average period of 2.4 years.
Additional Information on Outstanding RSUs Issued to Employees	The following table shows the changes in our outstanding RSUs and the associated weighted average grant-date fair values: 2017 Service Based Performance Based Total Number of RSUs Weighted Average Grant-Date Fair Value Per RSU Number of RSUs Weighted Average Grant-Date Fair Value Per RSU Number of RSUs Weighted Average Grant-Date Fair Value Per RSU Outstanding at year-end 2016 514,947 $ 49.36 279,284 $ 61.30 794,231 $ 53.56 Granted 115,334 $ 96.53 94,436 $ 93.41 209,770 $ 95.12 Distributed (152,783) $ 51.88 (50,978) $ 52.09 (203,761) $ 51.93 Forfeited (6,491) $ 74.47 (11,230) $ 52.09 (17,721) $ 60.28 Outstanding at year-end 2017 471,007 $ 59.49 311,512 $ 72.89 782,519 $ 64.83
Changes in Outstanding Marriott Vacations Worldwide SARs Issued to Both Marriott International and Marriott Vacations Worldwide Employees and Non-employee Directors	The following table shows the changes in our outstanding SARs and the associated weighted average exercise prices: 2017 Number of Weighted Average Exercise Price Per SAR Outstanding at year-end 2016 781,903 $ 34.97 Granted 81,977 97.53 Exercised (205,427) 19.35 Forfeited or expired — — Outstanding at year-end 2017 (1)(2) 658,453 $ 47.63 _________________________ (1) As of December 31, 2017 , outstanding SARs had a total intrinsic value of $ 58 million and a weighted average remaining term of 5.9 years. (2) As of December 31, 2017 , 431,543 SARs with a weighted average exercise price of $ 32.62 , an aggregate intrinsic value of $ 45 million and a weighted average remaining contractual term of 4.6 years were exercisable.
Assumptions Used to Estimate Fair Value of Grants	The following table outlines the assumptions used to estimate the fair value of grants in 2017, 2016 and 2015: 2017 2016 2015 Expected volatility 30.41% 31.60% 42.74% Dividend yield 1.44% 1.96% 1.26% Risk-free rate 2.06% 1.41% 1.74% Expected term (in years) 6.25 6.25 6.25

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interest Income and Interest Expense Disclosure	The following table shows the interest income and expense recognized as a result of our involvement with these variable interest entities during 2017 : ($ in millions) Vacation Ownership Warehouse Total Interest income $ 99 $ 2 $ 101 Interest expense to investors $ 19 $ 1 $ 20 Debt issuance cost amortization $ 4 $ 1 $ 5 Administrative expenses $ 1 $ — $ 1
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 December 31, 2017 : ($ in millions) Vacation Ownership Warehouse Total Consolidated Assets Vacation ownership notes receivable, net of reserves $ 814 $ — $ 814 Interest receivable 6 — 6 Restricted cash 32 — 32 Total $ 852 $ — $ 852 Consolidated Liabilities Interest payable $ 1 $ — $ 1 Debt 845 — 845 Total $ 846 $ — $ 846
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: ($ in millions) 2017 2016 Cash Inflows Net proceeds from vacation ownership notes receivable securitizations $ 346 $ 247 Principal receipts 229 175 Interest receipts 100 92 Reserve release 1 51 Total 676 565 Cash Outflows Principal to investors (215 ) (167 ) Voluntary repurchases of defaulted vacation ownership notes receivable (28 ) (29 ) Interest to investors (19 ) (17 ) Funding of restricted cash (2 ) (52 ) Total (264 ) (265 ) Net Cash Flows $ 412 $ 300 The following table shows cash flows between us and the Warehouse Credit Facility variable interest entity: ($ in millions) 2017 2016 Cash Inflows Proceeds from vacation ownership notes receivable securitizations $ 50 $ 127 Principal receipts 2 5 Interest receipts 2 5 Reserve release — 1 Total 54 138 Cash Outflows Principal to investors (1 ) (4 ) Voluntary repurchases of defaulted vacation ownership notes receivable — (1 ) Repayment of Warehouse Credit Facility (49 ) (122 ) Interest to investors (2 ) (2 ) Total (52 ) (129 ) Net Cash Flows $ 2 $ 9

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Revenues	Revenues ($ in millions) 2017 2016 2015 North America $ 2,000 $ 1,812 $ 1,848 Asia Pacific 67 74 93 Europe 116 114 126 Total segment revenues 2,183 2,000 2,067 Corporate and other — — — $ 2,183 $ 2,000 $ 2,067
Net Income	Net Income ($ in millions) 2017 2016 2015 North America $ 442 $ 398 $ 416 Asia Pacific (1 ) 2 7 Europe 15 12 15 Total segment financial results 456 412 438 Corporate and other (216 ) (214 ) (224 ) Provision for income taxes (5 ) (76 ) (87 ) $ 235 $ 122 $ 127
Depreciation	Depreciation ($ in millions) 2017 2016 2015 North America $ 13 $ 12 $ 13 Asia Pacific 1 1 2 Europe 1 2 2 Total segment depreciation 15 15 17 Corporate and other 6 6 5 $ 21 $ 21 $ 22
Assets	Assets ($ in millions) At Year-End 2017 At Year-End 2016 North America $ 2,088 $ 1,902 Asia Pacific 129 99 Europe 62 60 Total segment assets 2,279 2,061 Corporate and other 566 259 $ 2,845 $ 2,320
Capital Expenditures (including inventory)	Capital Expenditures (including inventory) ($ in millions) 2017 2016 2015 North America $ 143 $ 137 $ 180 Asia Pacific 26 21 72 Europe 5 6 3 Total segment capital expenditures 174 164 255 Corporate and other 7 9 10 $ 181 $ 173 $ 265

QUARTERLY RESULTS (UNAUDITED) (

QUARTERLY RESULTS (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	2017 (1)(2) ($ in millions, except per share data) First Second Third Fourth Fiscal Revenues $ 528 $ 563 $ 530 $ 562 $ 2,183 Expenses $ (483 ) $ (489 ) $ (461 ) $ (504 ) $ (1,937 ) Net income $ 28 $ 48 $ 47 $ 112 $ 235 Basic earnings per share $ 1.02 $ 1.76 $ 1.74 $ 4.21 $ 8.70 Diluted earnings per share $ 1.00 $ 1.72 $ 1.70 $ 4.10 $ 8.49 2016 (2)(3) ($ in millions, except per share data) First Second Third Fourth Fiscal Revenues $ 442 $ 452 $ 484 $ 622 $ 2,000 Expenses $ (424 ) $ (416 ) $ (418 ) $ (542 ) $ (1,800 ) Net income $ 7 $ 25 $ 41 $ 49 $ 122 Basic earnings per share $ 0.23 $ 0.90 $ 1.51 $ 1.79 $ 4.37 Diluted earnings per share $ 0.23 $ 0.89 $ 1.48 $ 1.75 $ 4.29 _______________________ (1) Beginning with our 2017 fiscal year, we changed our financial reporting cycle to a calendar year-end and end-of-month quarterly reporting cycle. Accordingly our 2017 first quarter included the period from December 31, 2016 (the day after the end of the 2016 fiscal year) through March 31, 2017, and our 2017 second, third and fourth quarters included the three month periods ended June 30, September 30, and December 31, respectively. (2) The sum of the earnings per share for the four quarters differs from annual earnings per share due to the required method of computing the weighted average shares in interim periods. (3) The 2016 quarters consisted of 12 weeks, except for the fourth quarter of 2016, which consisted of 16 weeks.

ADOPTION IMPACT OF NEW REVENU42

ADOPTION IMPACT OF NEW REVENUE STANDARD (Tables)	12 Months Ended
	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Schedule of New Accounting Pronouncement	The following tables present the impact of the adoption of the new Revenue Standard on our previously reported historical results for the periods presented: 2017 Income Statement Impact 2017 ($ in millions, except per share amounts) As Reported Adjustments As Adjusted REVENUES Sale of vacation ownership products $ 728 $ 29 $ 757 Resort management and other services 306 (27 ) 279 Financing 135 — 135 Rental 323 (61 ) 262 Cost reimbursements 460 290 750 TOTAL REVENUES 1,952 231 2,183 EXPENSES Cost of vacation ownership products 178 16 194 Marketing and sales 409 (14 ) 395 Resort management and other services 172 (17 ) 155 Financing 18 — 18 Rental 281 (58 ) 223 General and administrative 110 — 110 Litigation settlement 4 — 4 Consumer financing interest 25 — 25 Royalty fee 63 — 63 Cost reimbursements 460 290 750 TOTAL EXPENSES 1,720 217 1,937 Gains and other income, net 6 — 6 Interest expense (10 ) — (10 ) Other (2 ) — (2 ) INCOME BEFORE INCOME TAXES 226 14 240 Benefit (provision) for income taxes 1 (6 ) (5 ) NET INCOME $ 227 $ 8 $ 235 Basic earnings per share $ 8.38 $ 0.32 $ 8.70 Diluted earnings per share $ 8.18 $ 0.31 $ 8.49 2016 Income Statement Impact 2016 ($ in millions, except per share amounts) As Reported Adjustments As Adjusted REVENUES Sale of vacation ownership products $ 638 $ (15 ) $ 623 Resort management and other services 300 (22 ) 278 Financing 126 1 127 Rental 312 (60 ) 252 Cost reimbursements 432 288 720 TOTAL REVENUES 1,808 192 2,000 EXPENSES Cost of vacation ownership products 155 8 163 Marketing and sales 353 (13 ) 340 Resort management and other services 174 (17 ) 157 Financing 19 — 19 Rental 261 (49 ) 212 General and administrative 105 — 105 Litigation settlement (1 ) — (1 ) Consumer financing interest 24 — 24 Royalty fee 61 — 61 Cost reimbursements 432 288 720 TOTAL EXPENSES 1,583 217 1,800 Gains and other income, net 11 — 11 Interest expense (9 ) — (9 ) Other (4 ) — (4 ) INCOME BEFORE INCOME TAXES 223 (25 ) 198 Provision for income taxes (86 ) 10 (76 ) NET INCOME $ 137 $ (15 ) $ 122 Basic earnings per share $ 4.93 $ (0.56 ) $ 4.37 Diluted earnings per share $ 4.83 $ (0.54 ) $ 4.29 2015 Income Statement Impact 2015 ($ in millions, except per share amounts) As Reported Adjustments As Adjusted REVENUES Sale of vacation ownership products $ 675 $ 18 $ 693 Resort management and other services 293 (24 ) 269 Financing 124 1 125 Rental 313 (53 ) 260 Cost reimbursements 406 314 720 TOTAL REVENUES 1,811 256 2,067 EXPENSES Cost of vacation ownership products 204 14 218 Marketing and sales 330 (13 ) 317 Resort management and other services 180 (17 ) 163 Financing 21 — 21 Rental 260 (49 ) 211 General and administrative 106 — 106 Organizational and separation related 1 — 1 Consumer financing interest 25 — 25 Royalty fee 59 — 59 Impairment 1 — 1 Cost reimbursements 406 314 720 TOTAL EXPENSES 1,593 249 1,842 Gains and other income, net 10 — 10 Interest expense (13 ) — (13 ) Other (8 ) — (8 ) INCOME BEFORE INCOME TAXES 207 7 214 Provision for income taxes (84 ) (3 ) (87 ) NET INCOME $ 123 $ 4 $ 127 Basic earnings per share $ 3.90 $ 0.14 $ 4.04 Diluted earnings per share $ 3.82 $ 0.13 $ 3.95 2017 Balance Sheet Impact As of December 31, 2017 ($ in millions) As Reported Adjustments As Adjusted ASSETS Cash and cash equivalents $ 409 $ — $ 409 Restricted cash 82 — 82 Accounts receivable, net 154 (62 ) 92 Vacation ownership notes receivable, net 1,120 (5 ) 1,115 Inventory 716 12 728 Property and equipment 253 — 253 Other 172 (6 ) 166 TOTAL ASSETS $ 2,906 $ (61 ) $ 2,845 LIABILITIES AND EQUITY Accounts payable $ 145 $ — $ 145 Advance deposits 63 21 84 Accrued liabilities 168 (48 ) 120 Deferred revenue 98 (29 ) 69 Payroll and benefits liability 112 — 112 Deferred compensation liability 75 — 75 Debt, net 1,095 — 1,095 Other 14 — 14 Deferred taxes 91 (1 ) 90 TOTAL LIABILITIES 1,861 (57 ) 1,804 Preferred stock — — — Common stock — — — Treasury stock (694 ) — (694 ) Additional paid-in capital 1,189 — 1,189 Accumulated other comprehensive income 17 — 17 Retained earnings 533 (4 ) 529 TOTAL EQUITY 1,045 (4 ) 1,041 TOTAL LIABILITIES AND EQUITY $ 2,906 $ (61 ) $ 2,845 2016 Balance Sheet Impact As of December 30, 2016 ($ in millions) As Reported Adjustments As Adjusted ASSETS Cash and cash equivalents $ 147 $ — $ 147 Restricted cash 66 — 66 Accounts receivable, net 162 (77 ) 85 Vacation ownership notes receivable, net 972 (2 ) 970 Inventory 713 14 727 Property and equipment 203 — 203 Other 128 (6 ) 122 TOTAL ASSETS $ 2,391 $ (71 ) $ 2,320 LIABILITIES AND EQUITY Accounts payable $ 124 $ — $ 124 Advance deposits 56 26 82 Accrued liabilities 147 (42 ) 105 Deferred revenue 95 (36 ) 59 Payroll and benefits liability 96 — 96 Deferred compensation liability 63 — 63 Debt, net 737 — 737 Other 16 — 16 Deferred taxes 149 (6 ) 143 TOTAL LIABILITIES 1,483 (58 ) 1,425 Preferred stock — — — Common stock — — — Treasury stock (607 ) — (607 ) Additional paid-in capital 1,163 — 1,163 Accumulated other comprehensive income 5 — 5 Retained earnings 347 (13 ) 334 TOTAL EQUITY 908 (13 ) 895 TOTAL LIABILITIES AND EQUITY $ 2,391 $ (71 ) $ 2,320 2017 Cash Flow Impact - Operating Activities 2017 ($ in millions) As Reported Adjustments As Adjusted OPERATING ACTIVITIES Net income $ 227 $ 8 $ 235 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 21 — 21 Amortization of debt discount and issuance costs 10 — 10 Vacation ownership notes receivable reserve 50 2 52 Share-based compensation 16 — 16 Loss on disposal of property and equipment, net 2 — 2 Deferred income taxes (66 ) 5 (61 ) Net change in assets and liabilities: Accounts receivable 5 (14 ) (9 ) Notes receivable originations (467 ) 1 (466 ) Notes receivable collections 270 — 270 Inventory 42 3 45 Purchase of vacation ownership units for future transfer to inventory (34 ) — (34 ) Other assets (21 ) — (21 ) Accounts payable, advance deposits and accrued liabilities 51 (12 ) 39 Deferred revenue 2 7 9 Payroll and benefit liabilities 16 — 16 Deferred compensation liability 12 — 12 Other, net 6 — 6 Net cash provided by operating activities $ 142 $ — $ 142 2016 Cash Flow Impact - Operating Activities 2016 ($ in millions) As Reported Adjustments As Adjusted OPERATING ACTIVITIES Net income $ 137 $ (15 ) $ 122 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 21 — 21 Amortization of debt discount and issuance costs 6 — 6 Vacation ownership notes receivable reserve 48 (3 ) 45 Share-based compensation 14 — 14 Gain on disposal of property and equipment, net (11 ) — (11 ) Deferred income taxes 39 (9 ) 30 Net change in assets and liabilities: Accounts receivable (29 ) 29 — Notes receivable originations (357 ) — (357 ) Notes receivable collections 254 — 254 Inventory 5 (6 ) (1 ) Other assets 11 1 12 Accounts payable, advance deposits and accrued liabilities (19 ) 5 (14 ) Deferred revenue 17 (2 ) 15 Payroll and benefit liabilities (7 ) — (7 ) Deferred compensation liability 12 — 12 Net cash provided by operating activities $ 141 $ — $ 141 2015 Cash Flow Impact - Operating Activities 2015 ($ in millions) As Reported Adjustments As Adjusted OPERATING ACTIVITIES Net income $ 123 $ 4 $ 127 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 22 — 22 Amortization of debt discount and issuance costs 6 — 6 Vacation ownership notes receivable reserve 33 3 36 Share-based compensation 14 — 14 Gain on disposal of property and equipment, net (10 ) — (10 ) Deferred income taxes 28 3 31 Net change in assets and liabilities: Accounts receivable (25 ) (1 ) (26 ) Notes receivable originations (311 ) — (311 ) Notes receivable collections 270 — 270 Inventory 73 — 73 Purchase of operating properties for future conversion to inventory (62 ) — (62 ) Other assets (11 ) — (11 ) Accounts payable, advance deposits and accrued liabilities 34 (8 ) 26 Liability for Marriott Rewards customer loyalty program (89 ) — (89 ) Deferred revenue (5 ) (1 ) (6 ) Payroll and benefit liabilities 11 — 11 Deferred compensation liability 9 — 9 Other liabilities 3 — 3 Other, net 6 — 6 Net cash provided by operating activities $ 119 $ — $ 119

SUMMARY OF SIGNIFICANT ACCOUN43

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Business and Fiscal Period (Details)	12 Months Ended
	Dec. 31, 2017LocationPropertyLineSegment	Dec. 30, 2016	Jan. 01, 2016
Significant Accounting Policies [Line Items]
Number of business segments | Segment	3
Number of primary sources of revenues generated | Line	4
Percent of the assets, liabilities, revenues, expenses and cash flows discussed	100.00%
Fiscal period duration, additional days in reporting period	2 days
Fiscal period duration	366 days	364 days	364 days
Minimum
Significant Accounting Policies [Line Items]
Number of properties | Property	65
Operations located outside the United States
Significant Accounting Policies [Line Items]
Number of countries and territories in which company operates | Location	9

SUMMARY OF SIGNIFICANT ACCOUN44

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition (Details) $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)Segment
Accounting Policies [Abstract]
Number of business segments | Segment	3
Significant Accounting Policies [Line Items]
Vacation ownership products, sales incentives, period	2 years
Performance obligation satisfied in previous period | $	$ (9)
Financing receivable term	10 years
Minimum
Significant Accounting Policies [Line Items]
Number Of Days For Payments To Commence Under Financing Contracts After Closing	30 days
Vacation package expiration period	6 months
Maximum
Significant Accounting Policies [Line Items]
Number Of Days For Payments To Commence Under Financing Contracts After Closing	60 days
Vacation package expiration period	24 months

SUMMARY OF SIGNIFICANT ACCOUN45

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Inventory and Capitalized Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Accounting Policies [Abstract]
Increase in carrying value of inventories	$ 1	$ 15	$ 7
Capitalized salaries and related costs	$ 6	$ 6	$ 7

SUMMARY OF SIGNIFICANT ACCOUN46

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Defined Contribution Plan and Deferred Compensation Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Accounting Policies [Abstract]
Defined Contribution Plan, Cost	$ 10,000,000	$ 8,000,000	$ 7,000,000
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash surrender value of life insurance	$ 14,000,000
EDC | Marriott International
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual rate of return	4.00%	4.50%
Additional discretionary contributions	$ 0
Deferred Compensation Plan | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual rate of return	3.50%	5.60%
Deferred compensation arrangement, minimum required fixed rate of return	25.00%

SUMMARY OF SIGNIFICANT ACCOUN47

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2017
Minimum
Property, Plant and Equipment [Line Items]
Useful life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Useful life	40 years

SUMMARY OF SIGNIFICANT ACCOUN48

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash and Cash Equivalents, Restricted Cash (Details)	12 Months Ended
	Dec. 31, 2017
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash equivalents, maturity period	3 months

SUMMARY OF SIGNIFICANT ACCOUN49

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Loan Loss Reserves and Costs Incurred to Sell Vacation Ownership Products (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016
Accounting Policies [Abstract]
Past due period	30 days
Past due loan suspend accrual of interest period	90 days
Loan payments delinquency period beyond which Loan is Considered Defaulted	150 days
Notes receivable estimated average remaining default rates	7.16%	7.09%
Estimated default rate increases that would have resulted an increase in allowance for credit losses	0.50%
Financing receivable, allowance for credit losses, that would have been increased	$ 6	$ 5

SUMMARY OF SIGNIFICANT ACCOUN50

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fair Value Measurements and Derivative Instruments (Details)	Dec. 31, 2017USD ($)
Warehouse Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 250,000,000

SUMMARY OF SIGNIFICANT ACCOUN51

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Share-Based Compensation Costs (Details)	12 Months Ended
	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Performance based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Employees and Non Employee Directors | SARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Expiration period	10 years

SUMMARY OF SIGNIFICANT ACCOUN52

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Convertible Senior Notes (Details)	Sep. 30, 2017
Convertible Notes | Convertible Senior Notes
Debt Instrument [Line Items]
Debt, stated interest rate	1.50%

SUMMARY OF SIGNIFICANT ACCOUN53

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Accounting Standards (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016	Jan. 02, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income tax expense (benefit)	$ 5	$ 76	$ 87
Impact of adoption of ASU 2016-09				$ 2
Accounting Standards Update 2016-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income tax expense (benefit)	(6)
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Impact of adoption of ASU 2016-09				$ 2
Retained Earnings | Accounting Standards Update 2016-09, Forfeiture Rate Component
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Impact of adoption of ASU 2016-09	$ 1

REVENUE - Narrative (Details)

REVENUE - Narrative (Details)	12 Months Ended
	Dec. 31, 2017USD ($)Line	Dec. 30, 2016USD ($)
Revenue from Contract with Customer [Abstract]
Number of primary sources of revenues generated | Line	4
Contract with customer, asset	$ 0	$ 0
Contract with customer, liability, revenue recognized	$ 107,000,000

REVENUE - Revenue with customer

REVENUE - Revenue with customers (Details) - USD ($) $ in Millions	3 Months Ended							4 Months Ended	12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 09, 2016	Jun. 17, 2016	Mar. 25, 2016	Dec. 30, 2016	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Sale of vacation ownership products									$ 757	$ 623	$ 693
Ancillary revenues									118	124	125
Management fee revenues									89	84	79
Other services revenues									72	70	65
Resort management and other services									279	278	269
Rental									262	252	260
Cost reimbursements									750	720	720
Revenue from contracts with customers									2,048	1,873	1,942
Financing									135	127	125
TOTAL REVENUES	$ 562	$ 530	$ 563	$ 528	$ 484	$ 452	$ 442	$ 622	2,183	2,000	2,067
North America
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Sale of vacation ownership products									692	559	605
Ancillary revenues									101	102	101
Management fee revenues									80	76	70
Other services revenues									69	66	61
Resort management and other services									250	244	232
Rental									232	219	227
Cost reimbursements									698	670	667
Revenue from contracts with customers									1,872	1,692	1,731
Financing									128	120	117
TOTAL REVENUES									2,000	1,812	1,848
Asia Pacific
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Sale of vacation ownership products									42	40	58
Ancillary revenues									0	6	7
Management fee revenues									3	2	3
Other services revenues									1	2	2
Resort management and other services									4	10	12
Rental									10	15	14
Cost reimbursements									7	5	5
Revenue from contracts with customers									63	70	89
Financing									4	4	4
TOTAL REVENUES									67	74	93
Europe
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Sale of vacation ownership products									23	24	30
Ancillary revenues									17	16	17
Management fee revenues									6	6	6
Other services revenues									2	2	2
Resort management and other services									25	24	25
Rental									20	18	19
Cost reimbursements									45	45	48
Revenue from contracts with customers									113	111	122
Financing									3	3	4
TOTAL REVENUES									$ 116	$ 114	$ 126

REVENUE - Timing of Revenue fro

REVENUE - Timing of Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers	$ 2,048	$ 1,873	$ 1,942
North America
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers	1,872	1,692	1,731
Asia Pacific
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers	63	70	89
Europe
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers	113	111	122
Services transferred over time
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers	899	769	843
Services transferred over time | North America
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers	815	681	728
Services transferred over time | Asia Pacific
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers	44	47	67
Services transferred over time | Europe
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers	40	41	48
Goods or services transferred at a point in time
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers	1,149	1,104	1,099
Goods or services transferred at a point in time | North America
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers	1,057	1,011	1,003
Goods or services transferred at a point in time | Asia Pacific
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers	19	23	22
Goods or services transferred at a point in time | Europe
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contracts with customers	$ 73	$ 70	$ 74

REVENUE - Contracts with Custom

REVENUE - Contracts with Customers, Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 30, 2016
Accounts receivable
Accounts receivable	$ 73	$ 55
Vacation ownership notes receivable, net	1,115	970
Contract with Customer, Receivable	1,188	1,025
Contract Liabilities
Advance deposits	84	82
Deferred revenue	69	59
Contract with Customer, Liability	$ 153	$ 141

REVENUE - Additional Informatio

REVENUE - Additional Information, Expected timing of Satisfaction (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-01-01	12 Months Ended
	Dec. 31, 2017
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue remaining performance obligation expected timing percentage	90.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	2 years

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Income Taxes [Line Items]
Decrease in income tax expense	$ 65,000,000
Decrease net deferred tax liability	65,000,000
Income tax expense (benefit), excess tab benefits related to the vesting or exercise of employee share-based awards	6,000,000
Change in valuation allowance	(4,000,000)	$ 2,000,000	$ (4,000,000)
Excess tax benefits related to the vesting or exercise of employee share based awards not included In tax provision		1,000,000	9,000,000
Taxes paid	49,000,000	$ 48,000,000	$ 50,000,000
Non-United States Subsidiaries
Income Taxes [Line Items]
Cumulative unremitted earnings	184,000,000
Foreign
Income Taxes [Line Items]
Net operating loss carry forwards	37,000,000
Federal
Income Taxes [Line Items]
Net operating loss carry forwards	0
State
Income Taxes [Line Items]
Net operating loss carry forwards	$ 1,000,000
Minimum
Income Taxes [Line Items]
Income tax holiday period	10 years
Maximum
Income Taxes [Line Items]
Income tax holiday period	30 years

INCOME TAXES - Provision Taxes

INCOME TAXES - Provision Taxes by Geographic Region (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Income Tax Disclosure [Abstract]
United States	$ 232	$ 195	$ 205
Non-U.S. jurisdictions	8	3	9
INCOME BEFORE INCOME TAXES	$ 240	$ 198	$ 214

INCOME TAXES - Provision for In

INCOME TAXES - Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Current:
– U.S. Federal	$ (49)	$ (35)	$ (45)
– U.S. State	(7)	(5)	(4)
– Non-U.S.	(7)	(5)	(7)
Current Income Tax Expense (Benefit)	(63)	(45)	(56)
Deferred:
– U.S. Federal	44	(30)	(28)
– U.S. State	(1)	(2)	(5)
– Non-U.S.	15	1	2
Deferred income taxes	58	(31)	(31)
Provision for income taxes	$ (5)	$ (76)	$ (87)

INCOME TAXES - Deferred Tax Ass

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 30, 2016
Deferred Tax Assets
Inventory	$ 25	$ 25
Reserves	30	39
Long lived intangible assets	16	31
Net operating loss carry-forwards	39	49
Tax credits	39	21
Other, net	44	40
Deferred tax assets	193	205
Less valuation allowance	(44)	(48)
Net deferred tax assets	149	157
Deferred Tax Liabilities
Property and equipment	(16)	(16)
Deferred sales of vacation ownership interests	(210)	(277)
Deferred tax liabilities	(226)	(293)
Total net deferred tax liabilities	$ (77)	$ (136)

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of US Statutory Income Tax Rate to Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Income Tax Disclosure [Abstract]
U.S. statutory income tax rate	35.00%	35.00%	35.00%
U.S. state income taxes, net of U.S. federal tax benefit	2.50%	2.47%	2.64%
Permanent differences	(0.58%)	1.16%	1.61%
Impact related to the Tax Cuts and Jobs Act	(27.12%)	0.00%	0.00%
Excess tax benefits related to share-based compensation	(2.54%)	0.00%	0.00%
Foreign tax rate changes	(2.01%)	0.05%	0.01%
Non-U.S. (loss) income	(2.61%)	0.08%	(0.57%)
Other items	(0.79%)	(1.06%)	1.14%
Change in valuation allowance	0.03%	0.78%	0.72%
Effective rate	1.88%	38.48%	40.55%

VACATION OWNERSHIP NOTES RECE64

VACATION OWNERSHIP NOTES RECEIVABLE - Composition of Notes, Net of Reserves (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 30, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Vacation ownership notes receivable, net	$ 1,115	$ 970
Vacation ownership notes receivable — securitized
Accounts, Notes, Loans and Financing Receivable [Line Items]
Vacation ownership notes receivable, net	814	717
Eligible for securitization
Accounts, Notes, Loans and Financing Receivable [Line Items]
Vacation ownership notes receivable, net	142	98
Not eligible for securitization
Accounts, Notes, Loans and Financing Receivable [Line Items]
Vacation ownership notes receivable, net	159	155
Vacation ownership notes receivable — non-securitized
Accounts, Notes, Loans and Financing Receivable [Line Items]
Vacation ownership notes receivable, net	$ 301	$ 253

VACATION OWNERSHIP NOTES RECE65

VACATION OWNERSHIP NOTES RECEIVABLE - Future Principal Payments, Net of Reserves, and Interest Rates (Details) $ in Millions	Dec. 31, 2017USD ($)
Future Minimum Payments Receivable [Line Items]
2,018	$ 142
2,019	126
2,020	122
2,021	119
2,022	116
Thereafter	490
Balance at year-end 2017	1,115
Non-Securitized Vacation Ownership Notes Receivable
Future Minimum Payments Receivable [Line Items]
2,018	48
2,019	35
2,020	30
2,021	26
2,022	24
Thereafter	138
Balance at year-end 2017	301
Securitized Vacation Ownership Notes Receivable
Future Minimum Payments Receivable [Line Items]
2,018	94
2,019	91
2,020	92
2,021	93
2,022	92
Thereafter	352
Balance at year-end 2017	$ 814
Weighted Average
Future Minimum Payments Receivable [Line Items]
Stated interest rate	12.30%
Weighted Average | Non-Securitized Vacation Ownership Notes Receivable
Future Minimum Payments Receivable [Line Items]
Stated interest rate	11.50%
Weighted Average | Securitized Vacation Ownership Notes Receivable
Future Minimum Payments Receivable [Line Items]
Stated interest rate	12.60%
Minimum
Future Minimum Payments Receivable [Line Items]
Stated interest rate	0.00%
Minimum | Non-Securitized Vacation Ownership Notes Receivable
Future Minimum Payments Receivable [Line Items]
Stated interest rate	0.00%
Minimum | Securitized Vacation Ownership Notes Receivable
Future Minimum Payments Receivable [Line Items]
Stated interest rate	4.90%
Maximum
Future Minimum Payments Receivable [Line Items]
Stated interest rate	18.00%
Maximum | Non-Securitized Vacation Ownership Notes Receivable
Future Minimum Payments Receivable [Line Items]
Stated interest rate	18.00%
Maximum | Securitized Vacation Ownership Notes Receivable
Future Minimum Payments Receivable [Line Items]
Stated interest rate	18.00%

VACATION OWNERSHIP NOTES RECE66

VACATION OWNERSHIP NOTES RECEIVABLE - Interest Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income associated with vacation ownership notes receivable	$ 128	$ 120	$ 118
Vacation ownership notes receivable — securitized
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income associated with vacation ownership notes receivable	101	97	90
Vacation ownership notes receivable — non-securitized
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income associated with vacation ownership notes receivable	$ 27	$ 23	$ 28

VACATION OWNERSHIP NOTES RECE67

VACATION OWNERSHIP NOTES RECEIVABLE - Notes Receivable Reserves (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Time Sharing Transactions, Allowance for Uncollectible Accounts [Roll Forward]
Beginning Balance	$ 112	$ 108	$ 120
Increase in vacation ownership notes receivable reserve	52	44	36
Securitizations	0	0	0
Clean-up calls			0
Write-offs	(45)	(40)	(48)
Defaulted vacation ownership notes receivable repurchase activity	0	0	0
Ending Balance	119	112	108
Non-Securitized Vacation Ownership Notes Receivable
Time Sharing Transactions, Allowance for Uncollectible Accounts [Roll Forward]
Beginning Balance	58	59	66
Increase in vacation ownership notes receivable reserve	42	27	25
Securitizations	(29)	(28)	(16)
Clean-up calls			7
Write-offs	(45)	(40)	(48)
Defaulted vacation ownership notes receivable repurchase activity	28	30	25
Ending Balance	58	58	59
Securitized Vacation Ownership Notes Receivable
Time Sharing Transactions, Allowance for Uncollectible Accounts [Roll Forward]
Beginning Balance	54	49	54
Increase in vacation ownership notes receivable reserve	10	17	11
Securitizations	29	28	16
Clean-up calls			(7)
Write-offs	0	0	0
Defaulted vacation ownership notes receivable repurchase activity	(28)	(30)	(25)
Ending Balance	61	54	49
Warehouse Credit Facility
Time Sharing Transactions, Allowance for Uncollectible Accounts [Roll Forward]
Clean-up of Warehouse Credit Facility	0	0
Warehouse Credit Facility | Non-Securitized Vacation Ownership Notes Receivable
Time Sharing Transactions, Allowance for Uncollectible Accounts [Roll Forward]
Clean-up of Warehouse Credit Facility	4	10
Warehouse Credit Facility | Securitized Vacation Ownership Notes Receivable
Time Sharing Transactions, Allowance for Uncollectible Accounts [Roll Forward]
Clean-up of Warehouse Credit Facility	$ (4)	$ (10)
Accounting Standards Update 2014-09
Time Sharing Transactions, Allowance for Uncollectible Accounts [Roll Forward]
Beginning Balance			2
Accounting Standards Update 2014-09 | Non-Securitized Vacation Ownership Notes Receivable
Time Sharing Transactions, Allowance for Uncollectible Accounts [Roll Forward]
Beginning Balance			1
Accounting Standards Update 2014-09 | Securitized Vacation Ownership Notes Receivable
Time Sharing Transactions, Allowance for Uncollectible Accounts [Roll Forward]
Beginning Balance			1
Calculated under Revenue Guidance in Effect before Topic 606
Time Sharing Transactions, Allowance for Uncollectible Accounts [Roll Forward]
Beginning Balance			118
Calculated under Revenue Guidance in Effect before Topic 606 | Non-Securitized Vacation Ownership Notes Receivable
Time Sharing Transactions, Allowance for Uncollectible Accounts [Roll Forward]
Beginning Balance			65
Calculated under Revenue Guidance in Effect before Topic 606 | Securitized Vacation Ownership Notes Receivable
Time Sharing Transactions, Allowance for Uncollectible Accounts [Roll Forward]
Beginning Balance			$ 53

VACATION OWNERSHIP NOTES RECE68

VACATION OWNERSHIP NOTES RECEIVABLE - Recorded Investment in Non-accrual Notes Receivable that are Past Due (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016
Financing Receivable, Recorded Investment, Past Due [Line Items]
Investment in notes receivable on non-accrual status	$ 46	$ 50
Average investment in vacation ownership notes receivable on non-accrual status during 2017	48
Non-Securitized Vacation Ownership Notes Receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Investment in notes receivable on non-accrual status	39	44
Average investment in vacation ownership notes receivable on non-accrual status during 2017	41
Securitized Vacation Ownership Notes Receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Investment in notes receivable on non-accrual status	7	$ 6
Average investment in vacation ownership notes receivable on non-accrual status during 2017	$ 7

VACATION OWNERSHIP NOTES RECE69

VACATION OWNERSHIP NOTES RECEIVABLE - Aging of Recorded Investment (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 30, 2016
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	$ 72	$ 75
Current	1,162	1,007
Total vacation ownership notes receivable	1,234	1,082
Non-Securitized Vacation Ownership Notes Receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	46	52
Current	313	259
Total vacation ownership notes receivable	359	311
Securitized Vacation Ownership Notes Receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	26	23
Current	849	748
Total vacation ownership notes receivable	875	771
31 – 90 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	26	24
31 – 90 days past due | Non-Securitized Vacation Ownership Notes Receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	7	8
31 – 90 days past due | Securitized Vacation Ownership Notes Receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	19	16
91 – 150 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	12	11
91 – 150 days past due | Non-Securitized Vacation Ownership Notes Receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	5	4
91 – 150 days past due | Securitized Vacation Ownership Notes Receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	7	7
Greater than 150 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	34	40
Greater than 150 days past due | Non-Securitized Vacation Ownership Notes Receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	34	40
Greater than 150 days past due | Securitized Vacation Ownership Notes Receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	$ 0	$ 0

FINANCIAL INSTRUMENTS - Financi

FINANCIAL INSTRUMENTS - Financial Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 30, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable, net	$ 1,115	$ 970
Other assets	166	122
Debt, net	(1,095)	(737)
Non-interest bearing note payable, net	(14)	(16)
Securitized Vacation Ownership Notes Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable, net	814	717
Non-Securitized Vacation Ownership Notes Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable, net	301	253
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other assets	14	0
Total financial assets	1,129	970
Debt, net	(1,095)	(737)
Non-interest bearing note payable, net	(61)	0
Total financial liabilities	(1,088)	(729)
Carrying Amount | Non-Recourse Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, net	(835)	(729)
Carrying Amount | Convertible Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, net	(192)	0
Carrying Amount | Securitized Vacation Ownership Notes Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable, net	814	717
Carrying Amount | Non-Securitized Vacation Ownership Notes Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable, net	301	253
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other assets	14	0
Total financial assets	1,290	1,101
Non-interest bearing note payable, net	(61)	0
Total financial liabilities	(1,157)	(726)
Fair Value | Non-Recourse Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, net	(836)	(726)
Fair Value | Convertible Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, net	(260)	0
Fair Value | Securitized Vacation Ownership Notes Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable, net	955	834
Fair Value | Non-Securitized Vacation Ownership Notes Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable, net	$ 321	$ 267

FINANCIAL INSTRUMENTS - Non-sec

FINANCIAL INSTRUMENTS - Non-securitized Notes Receivable (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 30, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable, net	$ 1,115	$ 970
Non-Securitized Vacation Ownership Notes Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable, net	301	253
Carrying Amount | Non-Securitized Vacation Ownership Notes Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable, net	301	253
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, net	142	98
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, net	159	155
Fair Value | Non-Securitized Vacation Ownership Notes Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vacation ownership notes receivable, net	321	267
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, net	162	112
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, net	$ 159	$ 155

ACQUISITIONS AND DISPOSITIONS (

ACQUISITIONS AND DISPOSITIONS (Details) $ in Millions, $ in Millions	3 Months Ended										12 Months Ended
	Sep. 30, 2017USD ($)vacation_ownership_unit	Jun. 30, 2017USD ($)vacation_ownership_unit	Jun. 17, 2016USD ($)room	Jun. 17, 2016AUD ($)room	Mar. 25, 2016USD ($)	Sep. 11, 2015USD ($)vacation_ownership_unit	Sep. 11, 2015AUD ($)	Jun. 19, 2015USD ($)	Mar. 27, 2015USD ($)	Jun. 20, 2014USD ($)	Dec. 31, 2017USD ($)	Dec. 30, 2016USD ($)	Dec. 30, 2016AUD ($)	Jan. 01, 2016USD ($)	Sep. 11, 2015AUD ($)vacation_ownership_unit
Business Acquisition [Line Items]
Purchase of vacation ownership units for future transfer to inventory											$ 34	$ 0		$ 0
Non-cash issuance of debt in connection with acquisition of vacation ownership units											64	0		0
Capital expenditures for property and equipment (excluding inventory)											$ 26	35		36
Bali, Indonesia Resort One
Business Acquisition [Line Items]
Number of vacation ownership units acquired | vacation_ownership_unit	51
Consideration transferred	$ 24
Inventory	22
Property And equipment	$ 2
Marco Island, Florida
Business Acquisition [Line Items]
Number of vacation ownership units acquired | vacation_ownership_unit		36
Purchase of vacation ownership units for future transfer to inventory		$ 34
Cash from disposal of property									$ 5
Vacation ownership inventory sold									3
Marco Island, Florida | Notes Receivable
Business Acquisition [Line Items]
Non cash proceeds on sale of property									1
Big Island Of Hawaii
Business Acquisition [Line Items]
Number of vacation ownership units acquired | vacation_ownership_unit		112
Value of consideration given		$ 1
Non-cash issuance of debt in connection with acquisition of vacation ownership units		64
Acquisition of rooms of an operating hotel		$ 27
Miami, Florida
Business Acquisition [Line Items]
Acquisition of an operating hotel					$ 24
Cash paid for acquisition of operating hotel					$ 24
San Francisco, California
Business Acquisition [Line Items]
Number of units disposed of in connection with disposition of asset | room			19	19
Cash from disposal of property			$ 20
Gain on sale of real estate, other												11
Surfers Paradise, Australia
Business Acquisition [Line Items]
Acquisition of an operating hotel						$ 62	$ 85
Cash paid for acquisition of operating hotel						61	83
Cash from disposal of property			51	$ 71
Gain on sale of real estate, other												$ 1	$ 1
Assumed net liabilities for acquisition of operating hotel						1	$ 2
Purchase price allocation, land						21									$ 29
Purchase price allocation, building and leasehold improvements						37									49
Surfers Paradise, Australia | Maximum
Business Acquisition [Line Items]
Guarantee of net operating income associated with the disposition of real estate			$ 2	$ 3
Surfers Paradise, Australia | Furniture And Equipment
Business Acquisition [Line Items]
Purchase price allocation, furniture and equipment						$ 5									$ 6
Washington, D.C.
Business Acquisition [Line Items]
Number of rooms | vacation_ownership_unit						71									71
Acquisition of rooms of an operating hotel						$ 32
San Diego, California
Business Acquisition [Line Items]
Acquisition of an operating hotel									55
Cash paid for acquisition of operating hotel									55
Purchase price allocation, property and equipment									54
Purchase price allocation, other assets									$ 1
Purchase of operating hotels														47
Capital expenditures for property and equipment (excluding inventory)														8
Hawaii
Business Acquisition [Line Items]
Cash from disposal of property								$ 20		$ 40
Purchase and sale agreement, gross cash consideration										$ 60
Hawaii | Gains and other income
Business Acquisition [Line Items]
Gain on sale of real estate, other														$ 9

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Details) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016	Sep. 20, 2017
Performance Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the calculation of diluted earnings per share (in shares)	238,000	217,000	136,000
SARs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the calculation of diluted earnings per share (in shares)		62,018	62,018
Stock options and SARs not included in the calculation of diluted earning per share because exercise prices exceeded market prices, exercise prices (in usd per share)		$ 77.42	$ 77.42
Private Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Exercise price of warrants (in usd per share)				$ 176.68

EARNINGS PER SHARE - Reconcilia

EARNINGS PER SHARE - Reconciliation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended							4 Months Ended	12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 09, 2016	Jun. 17, 2016	Mar. 25, 2016	Dec. 30, 2016	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Computation of Basic Earnings Per Share
Net income	$ 112	$ 47	$ 48	$ 28	$ 41	$ 25	$ 7	$ 49	$ 235	$ 122	$ 127
Shares for basic earnings per share (in shares)									27.1	27.9	31.5
Basic earnings per share (in usd per share)	$ 4.21	$ 1.74	$ 1.76	$ 1.02	$ 1.51	$ 0.90	$ 0.23	$ 1.79	$ 8.70	$ 4.37	$ 4.04
Computation of Diluted Earnings Per Share
Net income	$ 112	$ 47	$ 48	$ 28	$ 41	$ 25	$ 7	$ 49	$ 235	$ 122	$ 127
Shares for basic earnings per share (in shares)									27.1	27.9	31.5
Effect of dilutive shares outstanding
Employee stock options and SARs (in shares)									0.4	0.3	0.5
Restricted stock units (in shares)									0.2	0.2	0.2
Shares for diluted earnings per share (in shares)									27.7	28.4	32.2
Diluted earnings per share (in usd per share)	$ 4.10	$ 1.70	$ 1.72	$ 1	$ 1.48	$ 0.89	$ 0.23	$ 1.75	$ 8.49	$ 4.29	$ 3.95

INVENTORY - Composition of Inve

INVENTORY - Composition of Inventory (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 30, 2016
Inventory Disclosure [Abstract]
Finished goods	$ 391	$ 352
Work-in-progress	2	40
Land and infrastructure	330	331
Real estate inventory	723	723
Operating supplies and retail inventory	5	4
Inventory	$ 728	$ 727

INVENTORY - Additional Informat

INVENTORY - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 30, 2016
Inventory [Line Items]
Land and infrastructure	$ 330	$ 331
Amount of completed vacation ownership units classified as property and equipment	48
Purchase obligation	481
Estimated Future Foreclosures
Inventory [Line Items]
Land and infrastructure	$ 68

PROPERTY AND EQUIPMENT - Compos

PROPERTY AND EQUIPMENT - Composition of Property and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 30, 2016
Property, Plant and Equipment [Abstract]
Land	$ 60	$ 55
Buildings and leasehold improvements	259	213
Furniture and equipment	54	51
Information technology	185	180
Construction in progress	23	28
Property, plant and equipment, gross	581	527
Accumulated depreciation	(328)	(324)
Property, plant and equipment, net	$ 253	$ 203

PROPERTY AND EQUIPMENT - Additi

PROPERTY AND EQUIPMENT - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Property, Plant and Equipment [Abstract]
Depreciation	$ 21	$ 21	$ 22

CONTINGENCIES AND COMMITMENTS -

CONTINGENCIES AND COMMITMENTS - Additional Information (Details)	Jul. 01, 2013Plaintiff	Mar. 31, 2017Plaintiff	Jun. 30, 2013Plaintiff	Apr. 30, 2013Plaintiff	Sep. 30, 2017USD ($)Property	Dec. 31, 2017USD ($)Propertyvacation_ownership_unit	Dec. 30, 2016USD ($)	Jan. 01, 2016USD ($)	May 31, 2017Plaintiff	Mar. 31, 2018USD ($)	Feb. 27, 2018USD ($)
Commitments and Contingencies Disclosure [Line Items]
Contractual commitments future minimum payments due						$ 481,000,000
Surety bonds issued						35,000,000
Letters of credit outstanding						5,000,000
Nonoperating income (expense)						$ (6,000,000)	$ (11,000,000)	$ (10,000,000)
Gain on business interruption insurance recovery					$ 9,000,000
Kapalua Bay Settlement
Commitments and Contingencies Disclosure [Line Items]
Number of plaintiffs in lawsuits | Plaintiff	2		38	12
Loss contingency, number of plaintiffs, released claims | Plaintiff			2	2
Ritz Carlton Club Aspen Highlands
Commitments and Contingencies Disclosure [Line Items]
Number of plaintiffs in lawsuits | Plaintiff		232
Minimum
Commitments and Contingencies Disclosure [Line Items]
Number of properties | Property						65
Land Lease
Commitments and Contingencies Disclosure [Line Items]
Lease term						30 years
Corporate Facilities Leases
Commitments and Contingencies Disclosure [Line Items]
Lease term						6 years
Other Operating Leases | Minimum
Commitments and Contingencies Disclosure [Line Items]
Lease term						3 years
Other Operating Leases | Maximum
Commitments and Contingencies Disclosure [Line Items]
Lease term						10 years
Marco Island, Florida
Commitments and Contingencies Disclosure [Line Items]
Contractual commitments future minimum payments due						$ 108,000,000
Commitment to purchase due in 2018						24,000,000
Commitment to purchase due in 2019						84,000,000
Information technology hardware and software
Commitments and Contingencies Disclosure [Line Items]
Contractual commitments future minimum payments due						25,000,000
Commitment to purchase due in 2018						15,000,000
Commitment to purchase due in 2019						5,000,000
Commitment to purchase due in 2020						2,000,000
Commitment to purchase due in 2021						1,000,000
Commitment to purchase due in 2022						1,000,000
Commitment to purchase due thereafter						1,000,000
William and Sharon Petrick Case
Commitments and Contingencies Disclosure [Line Items]
Number of plaintiffs in lawsuits | Plaintiff									69
New York City
Commitments and Contingencies Disclosure [Line Items]
Contractual commitments future minimum payments due						170,000,000
Commitment to purchase due in 2019						108,000,000
Commitment to purchase due in 2020						62,000,000
New York City | Other Operating Leases
Commitments and Contingencies Disclosure [Line Items]
Minimum lease payments						7,000,000
Bali, Indonesia Resort
Commitments and Contingencies Disclosure [Line Items]
Commitment to purchase due in 2018						14,000,000
Commitment to purchase due in 2019						$ 25,000,000
Fiscal Year 2019 | Bali, Indonesia Resort
Commitments and Contingencies Disclosure [Line Items]
Expected number of ownership units to be acquired | vacation_ownership_unit						88
Revolving Corporate Credit Facility | Revolving Credit Facility
Commitments and Contingencies Disclosure [Line Items]
Revolving credit facility amount						$ 250,000,000
Hurricane
Commitments and Contingencies Disclosure [Line Items]
Number of properties | Property					20
Nonoperating income (expense)						$ 1,000,000
Scenario, Forecast | Bali, Indonesia Resort
Commitments and Contingencies Disclosure [Line Items]
Commitment to purchase due in 2018										$ 6,000,000
Commitment to purchase due in 2019										31,000,000
Commitment to purchase due in 2020										$ 2,000,000
Scenario, Forecast | San Francisco, California
Commitments and Contingencies Disclosure [Line Items]
Contractual commitments future minimum payments due											$ 164,000,000
Commitment to purchase due in 2020											100,000,000
Commitment to purchase due in 2021											$ 64,000,000

CONTINGENCIES AND COMMITMENTS80

CONTINGENCIES AND COMMITMENTS - Summary of Future Obligations Under Operating Leases (Details) $ in Millions	Dec. 31, 2017USD ($)
Operating Leases
2,018	$ 17
2,019	15
2,020	13
2,021	9
2,022	7
Thereafter	35
Total minimum lease payments	96
Land Lease
Operating Leases
2,018	1
2,019	1
2,020	1
2,021	1
2,022	1
Thereafter	7
Total minimum lease payments	12
Corporate Facilities Leases
Operating Leases
2,018	3
2,019	4
2,020	4
2,021	3
2,022	0
Thereafter	0
Total minimum lease payments	14
Other Operating Leases
Operating Leases
2,018	13
2,019	10
2,020	8
2,021	5
2,022	6
Thereafter	28
Total minimum lease payments	$ 70

CONTINGENCIES AND COMMITMENTS81

CONTINGENCIES AND COMMITMENTS - Composition of Rental Expense Associated with Operating Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Commitments and Contingencies Disclosure [Abstract]
Minimum rentals	$ 9	$ 8	$ 9
Additional rentals	4	4	4
Operating Leases, Rent Expense, Net, Total	$ 13	$ 12	$ 13

DEBT - Debt Balances, Net of Un

DEBT - Debt Balances, Net of Unamortized Debt Issuance Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016
Debt Instrument [Line Items]
Debt, gross	$ 1,146
Debt, net	1,095	$ 737
Carrying Amount
Debt Instrument [Line Items]
Debt, net	1,095	737
Capital lease obligations	7	7
Non-Recourse Debt
Debt Instrument [Line Items]
Debt, gross	845
Non-Recourse Debt | Carrying Amount
Debt Instrument [Line Items]
Debt, gross	845	738
Unamortized debt issuance costs	(10)	(9)
Debt, net	835	729
Other Debt | Carrying Amount
Debt Instrument [Line Items]
Debt, gross	0	1
Unamortized debt issuance costs	0	0
Debt, net	$ 0	1
Convertible Senior Notes | Convertible Notes
Debt Instrument [Line Items]
Debt Instrument, Convertible, Remaining Discount Amortization Period	4 years 8 months 12 days
Debt, gross	$ 230
Unamortized debt issuance costs	(6)
Unamortized debt discount	(32)
Convertible Senior Notes | Convertible Notes | Carrying Amount
Debt Instrument [Line Items]
Debt, gross	230	0
Unamortized debt discount and issuance costs	(38)	0
Debt, net	192	0
Non-Interest Bearing Note Payable | Non-Interest Bearing Note Payable
Debt Instrument [Line Items]
Debt, gross	64
Non-Interest Bearing Note Payable | Non-Interest Bearing Note Payable | Carrying Amount
Debt Instrument [Line Items]
Debt, gross	64	0
Unamortized debt discount	(3)	0
Debt, net	$ 61	$ 0

DEBT - Scheduled Future Princip

DEBT - Scheduled Future Principal Payments for Debt (Details) $ in Millions	Dec. 31, 2017USD ($)
Debt Principal Payments Year
2,018	$ 128
2,019	130
2,020	94
2,021	95
2,022	324
Thereafter	375
December 31, 2017	1,146
Non-Recourse Debt
Debt Principal Payments Year
2,018	95
2,019	92
2,020	94
2,021	95
2,022	94
Thereafter	375
December 31, 2017	845
Convertible Notes | Convertible Senior Notes
Debt Principal Payments Year
2,018	0
2,019	0
2,020	0
2,021	0
2,022	230
Thereafter	0
December 31, 2017	230
Non-Interest Bearing Note Payable | Non-Interest Bearing Note Payable
Debt Principal Payments Year
2,018	33
2,019	31
2,020	0
2,021	0
2,022	0
Thereafter	0
December 31, 2017	64
Capital Leases
Debt Principal Payments Year
2,018	0
2,019	7
2,020	0
2,021	0
2,022	0
Thereafter	0
December 31, 2017	$ 7

DEBT - Additional Information (

DEBT - Additional Information (Details)	Dec. 31, 2017USD ($)Loan$ / sharesshares	Dec. 07, 2017$ / shares	Sep. 21, 2017USD ($)shares	Sep. 07, 2017$ / shares	May 11, 2017$ / shares	Feb. 09, 2017$ / shares	Sep. 30, 2017USD ($)trading_dayconsecutive_trading_day$ / shares	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)Loan$ / sharesshares	Sep. 30, 2017USD ($)$ / shares	Dec. 31, 2017USD ($)Loan$ / sharesshares	Dec. 30, 2016USD ($)$ / shares	Jan. 01, 2016USD ($)$ / shares	Sep. 29, 2017USD ($)	Sep. 25, 2017USD ($)	Sep. 20, 2017$ / sharesshares
Debt Disclosure [Line Items]
Cash paid for interest, net of amounts capitalized											$ 22,000,000	$ 23,000,000	$ 30,000,000
Securitization pool of vacation ownership notes receivable							$ 361,000,000
Proceeds from accounts receivable securitization							$ 350,000,000
Number of notes receivable pools failed to perform within the established parameters | Loan	0										0
Number of notes receivable pools outstanding | Loan	8								8		8
Proceeds from issuance of Convertible Notes											$ 230,000,000	$ 0	$ 0
Cash dividends declared per share of common stock (in usd per share) | $ / shares		$ 0.40		$ 0.35	$ 0.35	$ 0.35					$ 1.45	$ 1.25	$ 1.05
Purchase of Convertible Note Hedges											$ (33,000,000)	$ 0	$ 0
Proceeds from issuance of Warrants											$ 20,000,000	$ 0	$ 0
Non-Recourse Debt
Debt Disclosure [Line Items]
Debt, weighted average interest rate	2.50%								2.50%		2.50%
Non-Recourse Debt | Minimum
Debt Disclosure [Line Items]
Debt, stated interest rate	2.20%								2.20%		2.20%
Non-Recourse Debt | Maximum
Debt Disclosure [Line Items]
Debt, stated interest rate	6.30%								6.30%		6.30%
Convertible Notes | Convertible Senior Notes
Debt Disclosure [Line Items]
Debt, stated interest rate							1.50%			1.50%
Debt instrument face amount							$ 230,000,000			$ 230,000,000
Proceeds from issuance of Convertible Notes							$ 224,000,000
Conversion ratio							0.0000067482				0.0000067508
Conversion price (in usd per share) | $ / shares	$ 148.13						$ 148.19		$ 148.13	$ 148.19	$ 148.13
Threshold trading days | trading_day							20
Threshold consecutive trading days | consecutive_trading_day							30
Threshold percentage of stock price trigger							130.00%
Measurement period threshold trading days | trading_day							5
Measurement period threshold consecutive trading days | consecutive_trading_day							5
Ratio of trading price per 1000 principle amount							98.00%
Redemption price							100.00%
Percentage of debt held by individual owner										25.00%
Long-term Debt	$ 192,000,000								$ 192,000,000		$ 192,000,000				$ 197,000,000
Equity component, net of issuance costs	$ 33,000,000								$ 33,000,000		$ 33,000,000				$ 33,000,000
Debt Instrument, Convertible, Remaining Discount Amortization Period											4 years 8 months 12 days
Debt issuance costs							$ 7,000,000			$ 7,000,000
Percentage above common stock price to conversion price of convertible debt when instrument is eligible for conversion							30.00%			30.00%
Convertible Notes | Over-Allotment Option
Debt Disclosure [Line Items]
Debt instrument face amount							$ 30,000,000			$ 30,000,000
Non-Interest Bearing Note Payable | Non-Interest Bearing Note Payable
Debt Disclosure [Line Items]
Interest rate, effective percentage	6.00%								6.00%		6.00%
MVW Owner Trust 2015-1 | Non-Recourse Debt
Debt Disclosure [Line Items]
Debt, weighted average interest rate							2.51%			2.51%
MVW Owner Trust 2015-1 | Non-Recourse Debt | Class A Notes
Debt Disclosure [Line Items]
Debt, stated interest rate							2.42%			2.42%
Debt instrument face amount							$ 276,031,000			$ 276,031,000
MVW Owner Trust 2015-1 | Non-Recourse Debt | Class B Notes
Debt Disclosure [Line Items]
Debt, stated interest rate							2.75%			2.75%
Debt instrument face amount							$ 46,907,000			$ 46,907,000
MVW Owner Trust 2015-1 | Non-Recourse Debt | Class C Notes
Debt Disclosure [Line Items]
Debt, stated interest rate							2.99%			2.99%
Debt instrument face amount							$ 27,062,000			$ 27,062,000
Revolving Credit Facility | Minimum
Debt Disclosure [Line Items]
Commitment fee											0.20%
Revolving Credit Facility | Maximum
Debt Disclosure [Line Items]
Commitment fee							0.40%
Revolving Credit Facility | Previous Revolving Corporate Credit Facility
Debt Disclosure [Line Items]
Line of credit facility, maximum borrowing capacity														$ 200,000,000
Revolving Credit Facility | Revolving Corporate Credit Facility
Debt Disclosure [Line Items]
Line of credit facility, maximum borrowing capacity	$ 250,000,000								$ 250,000,000		$ 250,000,000
Line of credit facility, fair value of amount outstanding							$ 0			$ 0
Revolving Credit Facility | Revolving Corporate Credit Facility | Letter of Credit
Debt Disclosure [Line Items]
Line of credit facility, maximum borrowing capacity	30,000,000								30,000,000		30,000,000
Warehouse Credit Facility
Debt Disclosure [Line Items]
Securitization pool of vacation ownership notes receivable								$ 59,000,000
Proceeds from accounts receivable securitization								$ 50,000,000
Line of credit facility, maximum borrowing capacity	250,000,000								250,000,000		250,000,000
Line of credit facility, fair value of amount outstanding	$ 0								$ 0		$ 0
Payable period after termination											13 months
Advance rate for securitization								85.00%
Cash flows between transferee and transferor proceeds								$ 50,000,000
Funding of restricted cash								$ 1,000,000
Euro Dollar Rate | Revolving Credit Facility | Revolving Corporate Credit Facility | Minimum
Debt Disclosure [Line Items]
Debt instrument, percentage points added to the reference rate									0.50%
Euro Dollar Rate | Revolving Credit Facility | Revolving Corporate Credit Facility | Maximum
Debt Disclosure [Line Items]
Debt instrument, percentage points added to the reference rate									2.75%
Convertible Note Hedges
Debt Disclosure [Line Items]
Indexed shares (in shares) | shares			1,550,000
Purchase of Convertible Note Hedges			$ (33,000,000)
Convertible note hedges exercised (in shares) | shares	0								0		0
Private Warrants
Debt Disclosure [Line Items]
Number of securities called by warrants (in shares) | shares																1,550,000
Exercise price of warrants (in usd per share) | $ / shares																$ 176.68
Proceeds from issuance of Warrants			$ 20,000,000
Number of warrants exercised (in shares) | shares	0								0		0
Conversion Premium, Stock Price Exceeds The Conversion Price | Convertible Notes | Convertible Senior Notes
Debt Disclosure [Line Items]
Effective percentage above common stock price to conversion price of convertible debt, as effected by convertible note hedge and warrant transactions							55.00%			55.00%
Carrying Amount | Convertible Notes | Convertible Senior Notes
Debt Disclosure [Line Items]
Interest rate, effective percentage	4.70%								4.70%		4.70%

DEBT - Net Carrying Value Of Th

DEBT - Net Carrying Value Of The Convertible Notes (Details) - Convertible Notes - Convertible Senior Notes - USD ($) $ in Millions	Dec. 31, 2017	Sep. 25, 2017
Debt Instrument [Line Items]
Principal amount	$ 230
Unamortized debt discount	(32)
Unamortized debt issuance costs	(6)
Long-term Debt	192	$ 197
Equity component, net of issuance costs	$ 33	$ 33

DEBT - Interest Expense Related

DEBT - Interest Expense Related To The Convertible Notes (Details) - Convertible Notes - Convertible Senior Notes $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Contractual interest expense	$ 1
Amortization of debt discount	2
Debt issuance cost amortization	0
Interest Expense, Debt	$ 3

SHAREHOLDERS' EQUITY - Addition

SHAREHOLDERS' EQUITY - Additional Information (Details) - $ / shares	Dec. 31, 2017	Aug. 01, 2017	Dec. 30, 2016
Equity [Abstract]
Common stock, shares authorized (in shares)	100,000,000		100,000,000
Common stock, par value (in usd per share)	$ 0.01		$ 0.01
Common stock, shares issued (in shares)	36,861,843		36,633,868
Common stock, shares outstanding	26,461,296		26,990,306
Treasury stock, shares (in shares)	10,400,547		9,643,562
Preferred stock, shares authorized (in shares)	2,000,000		2,000,000
Preferred stock, par value (in usd per share)	$ 0.01		$ 0.01
Preferred stock, issued (in shares)	0		0
Preferred stock, outstanding (in shares)	0		0
Share repurchase program, number of additional common stock authorized to be repurchased (in shares)		1,000,000
Share repurchase program, number of additional common stock authorized to be repurchased (in shares)	11,900,000
Stock repurchase program, remaining authorized repurchase amount (in shares)	1,500,000

SHAREHOLDERS' EQUITY - Summary

SHAREHOLDERS' EQUITY - Summary of Stock Repurchase Activity (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Stock Repurchase Program [Roll Forward]
Number of Shares Repurchased, Beginning of period (in shares)	9,643,562
Cost of Shares Repurchased, for the year	$ 88	$ 178	$ 201
Number of Shares Repurchased, End of period (in shares)	10,400,547	9,643,562
Treasury Stock
Stock Repurchase Program [Roll Forward]
Number of Shares Repurchased, Beginning of period (in shares)	9,672,629
Cost of Shares Repurchased, Beginning of period	$ 609
Average Price Paid per Share, Beginning of period (in usd per share)	$ 62.90
Number of Shares Repurchased, for the year (in shares)	767,876
Cost of Shares Repurchased, for the year	$ 88	$ 178	$ 201
Average Price Paid per Share, for the year (in usd per share)	$ 115
Number of Shares Repurchased, End of period (in shares)	10,440,505	9,672,629
Cost of Shares Repurchased, End of period	$ 697	$ 609
Average Price Paid per Share, End of period (in usd per share)	$ 66.73	$ 62.90

SHAREHOLDERS' EQUITY - Cash Div

SHAREHOLDERS' EQUITY - Cash Dividend Declared (Detail) - $ / shares	Dec. 07, 2017	Sep. 07, 2017	May 11, 2017	Feb. 09, 2017	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Equity [Abstract]
Dividends declared per share of common stock (in usd per share)	$ 0.40	$ 0.35	$ 0.35	$ 0.35	$ 1.45	$ 1.25	$ 1.05

SHARE-BASED COMPENSATION - Addi

SHARE-BASED COMPENSATION - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 31, 2017	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares)	9,000	9,000
Stock options exercisable (in shares)	0	0
Outstanding (in usd per share)			$ 18.36
Options, outstanding, weighted average remaining contractual term	2 years
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	6,000,000	6,000,000
Number of shares available for grant	1,000,000	1,000,000
Stock options outstanding (in shares)	0	0	0
Stock options exercisable (in shares)	0	0	0
Grants in period (in shares)		0	0	0
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (in usd per share)		$ 95.12
Vested in period, fair value		$ 18	$ 13	$ 30
SARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (in usd per share)		$ 27.63	$ 16.12	$ 29.75
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested		$ 6	$ 1	$ 5
Aggregate intrinsic value, exercised		$ 19	$ 6	$ 4
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	500,000	500,000
Percentage of fair market value of common stock		95.00%
Employees and Non Employee Directors | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (in usd per share)			$ 53.56	$ 75.61

SHARE-BASED COMPENSATION - Shar

SHARE-BASED COMPENSATION - Share-based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 16	$ 14	$ 14
Service based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	10	9	9
Performance based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	4	3	3
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	14	12	12
SARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	2	2	2
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 0	$ 0	$ 0

SHARE-BASED COMPENSATION - Defe

SHARE-BASED COMPENSATION - Deferred Compensation Costs (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation costs related to unvested awards	$ 15	$ 13
Outstanding, weighted average remaining contractual terms	1 year 9 months 18 days
Deferred compensation expense weighted average expected recognition period	2 years 4 months 24 days
Service based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation costs related to unvested awards	$ 9	9
Performance based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation costs related to unvested awards	5	3
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation costs related to unvested awards	14	12
SARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation costs related to unvested awards	$ 1	1
Outstanding, weighted average remaining contractual terms	4 years 7 months
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation costs related to unvested awards	$ 0	$ 0

SHARE-BASED COMPENSATION - Chan

SHARE-BASED COMPENSATION - Changes in Marriott Vacations Worldwide RSUs Issued to Marriott International and Marriott Vacations Worldwide Employees (Details)	12 Months Ended
	Dec. 31, 2017$ / sharesshares
Service based RSUs
Number of RSUs
Outstanding at beginning of year (in shares) | shares	514,947
Stock awards, grants in period (in shares) | shares	115,334
Stock awards, distributed in period (in shares) | shares	(152,783)
Stock awards, forfeited in period (in shares) | shares	(6,491)
Outstanding at year-end (in shares) | shares	471,007
Weighted Average Grant-Date Fair Value Per RSU
Outstanding at beginning of year (in usd per share) | $ / shares	$ 49.36
Granted (in usd per share) | $ / shares	96.53
Distributed (in usd per share) | $ / shares	51.88
Forfeited (in usd per share) | $ / shares	74.47
Outstanding at year-end (in usd per share) | $ / shares	$ 59.49
Performance based RSUs
Number of RSUs
Outstanding at beginning of year (in shares) | shares	279,284
Stock awards, grants in period (in shares) | shares	94,436
Stock awards, distributed in period (in shares) | shares	(50,978)
Stock awards, forfeited in period (in shares) | shares	(11,230)
Outstanding at year-end (in shares) | shares	311,512
Weighted Average Grant-Date Fair Value Per RSU
Outstanding at beginning of year (in usd per share) | $ / shares	$ 61.30
Granted (in usd per share) | $ / shares	93.41
Distributed (in usd per share) | $ / shares	52.09
Forfeited (in usd per share) | $ / shares	52.09
Outstanding at year-end (in usd per share) | $ / shares	$ 72.89
Restricted stock units
Number of RSUs
Outstanding at beginning of year (in shares) | shares	794,231
Stock awards, grants in period (in shares) | shares	209,770
Stock awards, distributed in period (in shares) | shares	(203,761)
Stock awards, forfeited in period (in shares) | shares	(17,721)
Outstanding at year-end (in shares) | shares	782,519
Weighted Average Grant-Date Fair Value Per RSU
Outstanding at beginning of year (in usd per share) | $ / shares	$ 53.56
Granted (in usd per share) | $ / shares	95.12
Distributed (in usd per share) | $ / shares	51.93
Forfeited (in usd per share) | $ / shares	60.28
Outstanding at year-end (in usd per share) | $ / shares	$ 64.83

SHARE-BASED COMPENSATION - Ch94

SHARE-BASED COMPENSATION - Changes in Outstanding Marriott Vacations Worldwide SARs Issued to Both Marriott International and Marriott Vacations Worldwide Employees and Directors (Details) $ / shares in Units, $ in Millions	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares
Weighted Average Exercise Price Per SAR
Outstanding, weighted average remaining contractual terms	1 year 9 months 18 days
SARs
Number of SARs
Outstanding at beginning of year (in shares) | shares		781,903
Granted during 2016 (in shares) | shares		81,977
Exercised (in shares) | shares		(205,427)
Forfeited during 2016 (in shares) | shares		0
Outstanding at year-end (in shares) | shares	658,453	658,453
Weighted Average Exercise Price Per SAR
Outstanding at beginning of year (in usd per share) | $ / shares		$ 34.97
Granted (in usd per share) | $ / shares		97.53
Exercised (in usd per share) | $ / shares		19.35
Forfeited (in usd per share) | $ / shares		0
Outstanding at year-end (in usd per share) | $ / shares	$ 47.63	$ 47.63
Intrinsic value, outstanding | $	$ 58	$ 58
Outstanding, weighted average remaining contractual life	5 years 10 months 24 days
Exercisable (in shares) | shares	431,543	431,543
Exercisable, weighted average value (in usd per share) | $ / shares	$ 32.62
Aggregate intrinsic value, exercisable | $	$ 45	$ 45
Outstanding, weighted average remaining contractual terms	4 years 7 months

SHARE-BASED COMPENSATION - Assu

SHARE-BASED COMPENSATION - Assumptions Used to Estimate Fair Value of Grants (Detail)	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016	Jan. 02, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected volatility	30.41%	31.60%	42.74%
Dividend yield	1.44%	1.96%	1.26%
Risk-free rate	2.06%	1.41%	1.74%
Expected term (in years)	6 years 3 months	6 years 3 months	6 years 3 months

VARIABLE INTEREST ENTITIES - Cl

VARIABLE INTEREST ENTITIES - Classifications of Consolidated VIE Assets and Liabilities (Details) - Variable Interest Entity $ in Millions	Dec. 31, 2017USD ($)
Variable Interest Entity [Line Items]
VIE Assets	$ 852
VIE Liabilities	846
Non-Recourse Debt
Variable Interest Entity [Line Items]
VIE Liabilities	845
Vacation Ownership Notes Receivable Securitizations
Variable Interest Entity [Line Items]
VIE Assets	852
VIE Liabilities	846
Vacation Ownership Notes Receivable Securitizations | Non-Recourse Debt
Variable Interest Entity [Line Items]
VIE Liabilities	845
Warehouse Credit Facility
Variable Interest Entity [Line Items]
VIE Assets	0
VIE Liabilities	0
Warehouse Credit Facility | Non-Recourse Debt
Variable Interest Entity [Line Items]
VIE Liabilities	0
Vacation ownership notes receivable, net of reserves
Variable Interest Entity [Line Items]
VIE Assets	814
Vacation ownership notes receivable, net of reserves | Vacation Ownership Notes Receivable Securitizations
Variable Interest Entity [Line Items]
VIE Assets	814
Vacation ownership notes receivable, net of reserves | Warehouse Credit Facility
Variable Interest Entity [Line Items]
VIE Assets	0
Interest receivable
Variable Interest Entity [Line Items]
VIE Assets	6
Interest receivable | Vacation Ownership Notes Receivable Securitizations
Variable Interest Entity [Line Items]
VIE Assets	6
Interest receivable | Warehouse Credit Facility
Variable Interest Entity [Line Items]
VIE Assets	0
Restricted cash
Variable Interest Entity [Line Items]
VIE Assets	32
Restricted cash | Vacation Ownership Notes Receivable Securitizations
Variable Interest Entity [Line Items]
VIE Assets	32
Restricted cash | Warehouse Credit Facility
Variable Interest Entity [Line Items]
VIE Assets	0
Interest payable
Variable Interest Entity [Line Items]
VIE Liabilities	1
Interest payable | Vacation Ownership Notes Receivable Securitizations
Variable Interest Entity [Line Items]
VIE Liabilities	1
Interest payable | Warehouse Credit Facility
Variable Interest Entity [Line Items]
VIE Liabilities	$ 0

VARIABLE INTEREST ENTITIES - Ad

VARIABLE INTEREST ENTITIES - Additional Information (Details)	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 30, 2016USD ($)	Jan. 01, 2016USD ($)	Jun. 30, 2017vacation_ownership_unit
Variable Interest Entity [Line Items]
Noncontrolling interest	$ 0
Voluntary repurchase of defaulted notes receivable	28,000,000	$ 30,000,000	$ 25,000,000
Voluntary repurchase of other non-defaulted notes receivable	57,000,000	144,000,000	$ 146,000,000
Aggregate funding that could be required above the overcollateralization	5,000,000
Inventory	728,000,000	727,000,000
Other assets	166,000,000	122,000,000
Other	14,000,000	$ 16,000,000
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Notes receivable (less than)	$ 1,000,000
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%
New York City | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Capital leases, lessor balance sheet	$ 8,000,000
Maximum loss exposure, amount (less than)	2,000,000
Other Operating Leases | New York City
Variable Interest Entity [Line Items]
Minimum lease payments	7,000,000
Marco Island, Florida
Variable Interest Entity [Line Items]
Number of vacation ownership units acquired | vacation_ownership_unit				36
Marco Island, Florida | Florida | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Notes receivable (less than)	1,000,000
Maximum loss exposure, amount (less than)	1,000,000
Inventory	4,000,000
Other assets	2,000,000
Other	$ 8,000,000

VARIABLE INTEREST ENTITIES - In

VARIABLE INTEREST ENTITIES - Interest Income and Expense Recognized as a Result of Our Involvement with Variable Interest Entities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Variable Interest Entity [Line Items]
Interest income	$ 128	$ 120	$ 118
Administrative expenses	110	$ 105	$ 106
Variable Interest Entity
Variable Interest Entity [Line Items]
Interest income	101
Interest expense to investors	20
Debt issuance cost amortization	5
Administrative expenses	1
Variable Interest Entity | Vacation Ownership Notes Receivable Securitizations
Variable Interest Entity [Line Items]
Interest income	99
Interest expense to investors	19
Debt issuance cost amortization	4
Administrative expenses	1
Variable Interest Entity | Warehouse Credit Facility
Variable Interest Entity [Line Items]
Interest income	2
Interest expense to investors	1
Debt issuance cost amortization	1
Administrative expenses	$ 0

VARIABLE INTEREST ENTITIES - Ca

VARIABLE INTEREST ENTITIES - Cash Flows Between Company and Variable Interest Entities (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Cash Inflows
Net proceeds from vacation ownership notes receivable securitizations	$ 350
Cash Outflows
Voluntary repurchases of defaulted vacation ownership notes receivable		$ (28)	$ (30)	$ (25)
Vacation Ownership Notes Receivable Securitizations
Cash Inflows
Net proceeds from vacation ownership notes receivable securitizations		346	247
Principal receipts		229	175
Interest receipts		100	92
Reserve release		1	51
Total		676	565
Cash Outflows
Principal to investors		(215)	(167)
Voluntary repurchases of defaulted vacation ownership notes receivable		(28)	(29)
Interest to investors		(19)	(17)
Funding of restricted cash		(2)	(52)
Total		(264)	(265)
Net Cash Flows		412	300
Warehouse Credit Facility
Cash Inflows
Net proceeds from vacation ownership notes receivable securitizations		50	127
Principal receipts		2	5
Interest receipts		2	5
Reserve release		0	1
Total		54	138
Cash Outflows
Principal to investors		(1)	(4)
Voluntary repurchases of defaulted vacation ownership notes receivable		0	(1)
Repayment of Warehouse Credit Facility		(49)	(122)
Interest to investors		(2)	(2)
Total		(52)	(129)
Net Cash Flows		$ 2	$ 9

BUSINESS SEGMENTS - Additional

BUSINESS SEGMENTS - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)Segmentprogram	Dec. 30, 2016USD ($)	Jan. 01, 2016USD ($)
Segment Reporting Disclosure [Line Items]
Number of business segments | Segment	3
Property and equipment	$ 253	$ 203
Non-US
Segment Reporting Disclosure [Line Items]
Revenues, excluding cost reimbursements	186	190	$ 216
Property and equipment	$ 77	$ 60
Asia Pacific
Segment Reporting Disclosure [Line Items]
Number of points based programs | program	2

BUSINESS SEGMENTS - Revenues (D

BUSINESS SEGMENTS - Revenues (Details) - USD ($) $ in Millions	3 Months Ended							4 Months Ended	12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 09, 2016	Jun. 17, 2016	Mar. 25, 2016	Dec. 30, 2016	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Segment Reporting, Revenue Reconciling Item [Line Items]
TOTAL REVENUES	$ 562	$ 530	$ 563	$ 528	$ 484	$ 452	$ 442	$ 622	$ 2,183	$ 2,000	$ 2,067
North America
Segment Reporting, Revenue Reconciling Item [Line Items]
TOTAL REVENUES									2,000	1,812	1,848
Asia Pacific
Segment Reporting, Revenue Reconciling Item [Line Items]
TOTAL REVENUES									67	74	93
Europe
Segment Reporting, Revenue Reconciling Item [Line Items]
TOTAL REVENUES									116	114	126
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
TOTAL REVENUES									2,183	2,000	2,067
Operating Segments | North America
Segment Reporting, Revenue Reconciling Item [Line Items]
TOTAL REVENUES									2,000	1,812	1,848
Operating Segments | Asia Pacific
Segment Reporting, Revenue Reconciling Item [Line Items]
TOTAL REVENUES									67	74	93
Operating Segments | Europe
Segment Reporting, Revenue Reconciling Item [Line Items]
TOTAL REVENUES									116	114	126
Corporate and other
Segment Reporting, Revenue Reconciling Item [Line Items]
TOTAL REVENUES									$ 0	$ 0	$ 0

BUSINESS SEGMENTS - Net Income

BUSINESS SEGMENTS - Net Income (Details) - USD ($) $ in Millions	3 Months Ended							4 Months Ended	12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 09, 2016	Jun. 17, 2016	Mar. 25, 2016	Dec. 30, 2016	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Segment Reporting, Reconciliation of Net Income (Loss) Segment to Consolidated [Line Items]
Segment financial results									$ 240	$ 198	$ 214
Provision for income taxes									(5)	(76)	(87)
NET INCOME	$ 112	$ 47	$ 48	$ 28	$ 41	$ 25	$ 7	$ 49	235	122	127
Operating Segments
Segment Reporting, Reconciliation of Net Income (Loss) Segment to Consolidated [Line Items]
Segment financial results									456	412	438
Operating Segments | North America
Segment Reporting, Reconciliation of Net Income (Loss) Segment to Consolidated [Line Items]
Segment financial results									442	398	416
Operating Segments | Asia Pacific
Segment Reporting, Reconciliation of Net Income (Loss) Segment to Consolidated [Line Items]
Segment financial results									(1)	2	7
Operating Segments | Europe
Segment Reporting, Reconciliation of Net Income (Loss) Segment to Consolidated [Line Items]
Segment financial results									15	12	15
Corporate and other
Segment Reporting, Reconciliation of Net Income (Loss) Segment to Consolidated [Line Items]
Segment financial results									$ (216)	$ (214)	$ (224)

BUSINESS SEGMENTS - Depreciatio

BUSINESS SEGMENTS - Depreciation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Reconciliation of Depreciation by Segment [Line Items]
Depreciation	$ 21	$ 21	$ 22
Operating Segments
Reconciliation of Depreciation by Segment [Line Items]
Depreciation	15	15	17
Operating Segments | North America
Reconciliation of Depreciation by Segment [Line Items]
Depreciation	13	12	13
Operating Segments | Asia Pacific
Reconciliation of Depreciation by Segment [Line Items]
Depreciation	1	1	2
Operating Segments | Europe
Reconciliation of Depreciation by Segment [Line Items]
Depreciation	1	2	2
Corporate and other
Reconciliation of Depreciation by Segment [Line Items]
Depreciation	$ 6	$ 6	$ 5

BUSINESS SEGMENTS - Assets (Det

BUSINESS SEGMENTS - Assets (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 30, 2016
Segment Reporting Information [Line Items]
Total Assets	$ 2,845	$ 2,320
Operating Segments
Segment Reporting Information [Line Items]
Total Assets	2,279	2,061
Operating Segments | North America
Segment Reporting Information [Line Items]
Total Assets	2,088	1,902
Operating Segments | Asia Pacific
Segment Reporting Information [Line Items]
Total Assets	129	99
Operating Segments | Europe
Segment Reporting Information [Line Items]
Total Assets	62	60
Corporate and other
Segment Reporting Information [Line Items]
Total Assets	$ 566	$ 259

BUSINESS SEGMENTS - Capital Exp

BUSINESS SEGMENTS - Capital Expenditures (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	$ 181	$ 173	$ 265
Operating Segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	174	164	255
Operating Segments | North America
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	143	137	180
Operating Segments | Asia Pacific
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	26	21	72
Operating Segments | Europe
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	5	6	3
Corporate and other
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	$ 7	$ 9	$ 10

QUARTERLY RESULTS (UNAUDITED106

QUARTERLY RESULTS (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended							4 Months Ended	12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 09, 2016	Jun. 17, 2016	Mar. 25, 2016	Dec. 30, 2016	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 562	$ 530	$ 563	$ 528	$ 484	$ 452	$ 442	$ 622	$ 2,183	$ 2,000	$ 2,067
Expenses	(504)	(461)	(489)	(483)	(418)	(416)	(424)	(542)	(1,937)	(1,800)	(1,842)
Net income	$ 112	$ 47	$ 48	$ 28	$ 41	$ 25	$ 7	$ 49	$ 235	$ 122	$ 127
Basic earnings per share (in usd per share)	$ 4.21	$ 1.74	$ 1.76	$ 1.02	$ 1.51	$ 0.90	$ 0.23	$ 1.79	$ 8.70	$ 4.37	$ 4.04
Diluted earnings per share (in usd per share)	$ 4.10	$ 1.70	$ 1.72	$ 1	$ 1.48	$ 0.89	$ 0.23	$ 1.75	$ 8.49	$ 4.29	$ 3.95

ADOPTION IMPACT OF NEW REVEN107

ADOPTION IMPACT OF NEW REVENUE STANDARD - Narrative (Details) $ in Millions	Jan. 02, 2015USD ($)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings	$ (2)
Retained Earnings
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings	(2)
Retained Earnings | Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings	$ (2)

ADOPTION IMPACT OF NEW REVEN108

ADOPTION IMPACT OF NEW REVENUE STANDARD - Income Statement Impact (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended							4 Months Ended	12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 09, 2016	Jun. 17, 2016	Mar. 25, 2016	Dec. 30, 2016	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
REVENUES
Sale of vacation ownership products									$ 757	$ 623	$ 693
Resort management and other services									279	278	269
Financing									135	127	125
Rental									262	252	260
Cost reimbursements									750	720	720
TOTAL REVENUES	$ 562	$ 530	$ 563	$ 528	$ 484	$ 452	$ 442	$ 622	2,183	2,000	2,067
EXPENSES
Cost of vacation ownership products									194	163	218
Marketing and sales									395	340	317
Resort management and other services									155	157	163
Financing									18	19	21
Rental									223	212	211
Litigation settlement									4	(1)	0
Administrative expenses									110	105	106
Organizational and separation related									0	0	1
Consumer financing interest									25	24	25
Royalty fee									63	61	59
Impairment									0	0	1
Cost reimbursements									750	720	720
TOTAL EXPENSES	504	461	489	483	418	416	424	542	1,937	1,800	1,842
Gains and other income, net									6	11	10
Interest expense									(10)	(9)	(13)
Other									(2)	(4)	(8)
INCOME BEFORE INCOME TAXES									240	198	214
Benefit (provision) for income taxes									(5)	(76)	(87)
NET INCOME	$ 112	$ 47	$ 48	$ 28	$ 41	$ 25	$ 7	$ 49	$ 235	$ 122	$ 127
Earnings per share - Basic (in usd per share)	$ 4.21	$ 1.74	$ 1.76	$ 1.02	$ 1.51	$ 0.90	$ 0.23	$ 1.79	$ 8.70	$ 4.37	$ 4.04
Earnings per share - Diluted (in usd per share)	$ 4.10	$ 1.70	$ 1.72	$ 1	$ 1.48	$ 0.89	$ 0.23	$ 1.75	$ 8.49	$ 4.29	$ 3.95
As Reported | Accounting Standards Update 2014-09
REVENUES
Sale of vacation ownership products									$ 728	$ 638	$ 675
Resort management and other services									306	300	293
Financing									135	126	124
Rental									323	312	313
Cost reimbursements									460	432	406
TOTAL REVENUES									1,952	1,808	1,811
EXPENSES
Cost of vacation ownership products									178	155	204
Marketing and sales									409	353	330
Resort management and other services									172	174	180
Financing									18	19	21
Rental									281	261	260
Litigation settlement									4	(1)
Administrative expenses									110	105	106
Organizational and separation related											1
Consumer financing interest									25	24	25
Royalty fee									63	61	59
Impairment											1
Cost reimbursements									460	432	406
TOTAL EXPENSES									1,720	1,583	1,593
Gains and other income, net									6	11	10
Interest expense									(10)	(9)	(13)
Other									(2)	(4)	(8)
INCOME BEFORE INCOME TAXES									226	223	207
Benefit (provision) for income taxes									1	(86)	(84)
NET INCOME									$ 227	$ 137	$ 123
Earnings per share - Basic (in usd per share)									$ 8.38	$ 4.93	$ 3.90
Earnings per share - Diluted (in usd per share)									$ 8.18	$ 4.83	$ 3.82
Adjustments | Accounting Standards Update 2014-09
REVENUES
Sale of vacation ownership products									$ 29	$ (15)	$ 18
Resort management and other services									(27)	(22)	(24)
Financing									0	1	1
Rental									(61)	(60)	(53)
Cost reimbursements									290	288	314
TOTAL REVENUES									231	192	256
EXPENSES
Cost of vacation ownership products									16	8	14
Marketing and sales									(14)	(13)	(13)
Resort management and other services									(17)	(17)	(17)
Financing									0	0	0
Rental									(58)	(49)	(49)
Litigation settlement									0	0
Administrative expenses									0	0	0
Organizational and separation related											0
Consumer financing interest									0	0	0
Royalty fee									0	0	0
Impairment											0
Cost reimbursements									290	288	314
TOTAL EXPENSES									217	217	249
Gains and other income, net									0	0	0
Interest expense									0	0	0
Other									0	0	0
INCOME BEFORE INCOME TAXES									14	(25)	7
Benefit (provision) for income taxes									(6)	10	(3)
NET INCOME									$ 8	$ (15)	$ 4
Earnings per share - Basic (in usd per share)									$ 0.32	$ (0.56)	$ 0.14
Earnings per share - Diluted (in usd per share)									$ 0.31	$ (0.54)	$ 0.13

ADOPTION IMPACT OF NEW REVEN109

ADOPTION IMPACT OF NEW REVENUE STANDARD - Balance Sheet Impact (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016	Jan. 02, 2015
ASSETS
Cash and cash equivalents	$ 409	$ 147
Restricted Cash	82	66
Accounts receivable, net	92	85
Vacation ownership notes receivable, net	1,115	970
Inventory	728	727
Property and equipment	253	203
Other assets	166	122
TOTAL ASSETS	2,845	2,320
LIABILITIES AND EQUITY
Accounts payable	145	124
Advance deposits	84	82
Accrued liabilities	120	105
Deferred revenue	69	59
Payroll and benefits liability	112	96
Deferred compensation liability	75	63
Debt, net	1,095	737
Other	14	16
Deferred taxes	90	143
TOTAL LIABILITIES	1,804	1,425
Preferred stock	0	0
Common stock	0	0
Treasury stock	(694)	(607)
Additional paid-in capital	1,189	1,163
Accumulated other comprehensive income	17	5
Retained earnings	529	334
TOTAL EQUITY	1,041	895	$ 978	$ 1,080
TOTAL LIABILITIES AND EQUITY	2,845	2,320
As Reported | Accounting Standards Update 2014-09
ASSETS
Cash and cash equivalents	409	147
Restricted Cash	82	66
Accounts receivable, net	154	162
Vacation ownership notes receivable, net	1,120	972
Inventory	716	713
Property and equipment	253	203
Other assets	172	128
TOTAL ASSETS	2,906	2,391
LIABILITIES AND EQUITY
Accounts payable	145	124
Advance deposits	63	56
Accrued liabilities	168	147
Deferred revenue	98	95
Payroll and benefits liability	112	96
Deferred compensation liability	75	63
Debt, net	1,095	737
Other	14	16
Deferred taxes	91	149
TOTAL LIABILITIES	1,861	1,483
Preferred stock	0	0
Common stock	0	0
Treasury stock	(694)	(607)
Additional paid-in capital	1,189	1,163
Accumulated other comprehensive income	17	5
Retained earnings	533	347
TOTAL EQUITY	1,045	908
TOTAL LIABILITIES AND EQUITY	2,906	2,391
Adjustments | Accounting Standards Update 2014-09
ASSETS
Cash and cash equivalents	0	0
Restricted Cash	0	0
Accounts receivable, net	(62)	(77)
Vacation ownership notes receivable, net	(5)	(2)
Inventory	12	14
Property and equipment	0	0
Other assets	(6)	(6)
TOTAL ASSETS	(61)	(71)
LIABILITIES AND EQUITY
Accounts payable	0	0
Advance deposits	21	26
Accrued liabilities	(48)	(42)
Deferred revenue	(29)	(36)
Payroll and benefits liability	0	0
Deferred compensation liability	0	0
Debt, net	0	0
Other	0	0
Deferred taxes	(1)	(6)
TOTAL LIABILITIES	(57)	(58)
Preferred stock	0	0
Common stock	0	0
Treasury stock	0	0
Additional paid-in capital	0	0
Accumulated other comprehensive income	0	0
Retained earnings	(4)	(13)
TOTAL EQUITY	(4)	(13)
TOTAL LIABILITIES AND EQUITY	$ (61)	$ (71)

ADOPTION IMPACT OF NEW REVEN110

ADOPTION IMPACT OF NEW REVENUE STANDARD - Cash Flow Impact (Details) - USD ($) $ in Millions	3 Months Ended							4 Months Ended	12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 09, 2016	Jun. 17, 2016	Mar. 25, 2016	Dec. 30, 2016	Dec. 31, 2017	Dec. 30, 2016	Jan. 01, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income	$ 112	$ 47	$ 48	$ 28	$ 41	$ 25	$ 7	$ 49	$ 235	$ 122	$ 127
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation									21	21	22
Amortization of debt discount and issuance costs									10	6	6
Vacation ownership notes receivable reserve									52	45	36
Share-based compensation									16	14	14
Loss on disposal of property and equipment, net									2	(11)	(10)
Deferred income taxes									(61)	30	31
Net change in assets and liabilities:
Accounts receivable									(9)	0	(26)
Notes receivable originations									(466)	(357)	(311)
Notes receivable collections									270	254	270
Inventory									45	(1)	73
Purchase of vacation ownership units for future transfer to inventory									(34)	0	0
Purchase of operating properties for future conversion to inventory									0	0	(62)
Other assets									(21)	12	(11)
Accounts payable, advance deposits and accrued liabilities									39	(14)	26
Liability for Marriott Rewards customer loyalty program									0	0	(89)
Deferred revenue									9	15	(6)
Payroll and benefit liabilities									16	(7)	11
Deferred compensation liability									12	12	9
Other liabilities									0	1	3
Other, net									6	(1)	6
Net cash provided by operating activities									142	141	119
As Reported | Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income									227	137	123
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation									21	21	22
Amortization of debt discount and issuance costs									10	6	6
Vacation ownership notes receivable reserve									50	48	33
Share-based compensation									16	14	14
Loss on disposal of property and equipment, net									2	(11)	(10)
Deferred income taxes									(66)	39	28
Net change in assets and liabilities:
Accounts receivable									5	(29)	(25)
Notes receivable originations									(467)	(357)	(311)
Notes receivable collections									270	254	270
Inventory									42	5	73
Purchase of vacation ownership units for future transfer to inventory									(34)
Purchase of operating properties for future conversion to inventory											(62)
Other assets									(21)	11	(11)
Accounts payable, advance deposits and accrued liabilities									51	(19)	34
Liability for Marriott Rewards customer loyalty program											(89)
Deferred revenue									2	17	(5)
Payroll and benefit liabilities									16	(7)	11
Deferred compensation liability									12	12	9
Other liabilities											3
Other, net									6		6
Net cash provided by operating activities									142	141	119
Adjustments | Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income									8	(15)	4
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation									0	0	0
Amortization of debt discount and issuance costs									0	0	0
Vacation ownership notes receivable reserve									2	(3)	3
Share-based compensation									0	0	0
Loss on disposal of property and equipment, net									0	0	0
Deferred income taxes									5	(9)	3
Net change in assets and liabilities:
Accounts receivable									(14)	29	(1)
Notes receivable originations									1	0	0
Notes receivable collections									0	0	0
Inventory									3	(6)	0
Purchase of vacation ownership units for future transfer to inventory									0
Purchase of operating properties for future conversion to inventory											0
Other assets									0	1	0
Accounts payable, advance deposits and accrued liabilities									(12)	5	(8)
Liability for Marriott Rewards customer loyalty program											0
Deferred revenue									7	(2)	(1)
Payroll and benefit liabilities									0	0	0
Deferred compensation liability									0	0	0
Other liabilities											0
Other, net									0		0
Net cash provided by operating activities									$ 0	$ 0	$ 0

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ / shares in Units, $ in Billions	May 14, 2018$ / shares	Apr. 30, 2018USD ($)$ / shares	Feb. 16, 2018$ / shares	Dec. 07, 2017$ / shares	Sep. 07, 2017$ / shares	May 11, 2017$ / shares	Feb. 09, 2017$ / shares	Dec. 31, 2017$ / shares	Dec. 30, 2016$ / shares	Jan. 01, 2016$ / shares
Subsequent Event [Line Items]
Dividends declared per share of common stock (in usd per share)				$ 0.40	$ 0.35	$ 0.35	$ 0.35	$ 1.45	$ 1.25	$ 1.05
Common stock, par value (in usd per share)								$ 0.01	$ 0.01
Subsequent Event
Subsequent Event [Line Items]
Dividends declared per share of common stock (in usd per share)	$ 0.40		$ 0.4
Common stock, par value (in usd per share)		$ 0.01
ILG, Inc | Subsequent Event
Subsequent Event [Line Items]
Implied equity value of cash and stock transaction | $		$ 5
Equity interests issuable per share owned by acquiree		0.165
Business acquisition, share price (in usd per share)		$ 14.75
ILG, Inc | Subsequent Event
Subsequent Event [Line Items]
Common stock, par value (in usd per share)		$ 0.01