MARRIOTT VACATIONS WORLDWIDE Corp
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
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11. Goodwill
- GOODWILL
The following table details the carrying amount of our goodwill at December 31, 2023 and December 31, 2022, and reflects goodwill attributed to the ILG Acquisition and the Welk Acquisition.
| ($ in millions) | Vacation Ownership | Exchange & Third-Party Management | Total Consolidated |
|---|---|---|---|
| Balance at December 31, 2021 | $2,778 | $372 | $3,150 |
| Measurement period adjustments | (8) | — | (8) |
| Disposition of VRI Americas | — | (25) | (25) |
| Balance at December 31, 2022 | 2,770 | 347 | 3,117 |
| Adjustments | — | — | — |
| Balance at December 31, 2023 | $2,770 | $347 | $3,117 |
We performed our annual goodwill impairment test as of October 1, 2023 and prepared a quantitative assessment for both the Vacation Ownership and the Exchange & Third-Party Management reporting units. For each reporting unit, the fair value of the reporting unit was in excess of the carrying value and therefore we concluded there wasno impairment.
During 2022 we conducted our annual goodwill impairment test, which was a qualitative evaluation, andno impairment charges were recorded. The estimated fair values of all of our reporting units exceeded their carrying values at the date of their most recent estimated fair value determination.
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