MARRIOTT VACATIONS WORLDWIDE Corp
For the period ended Mar 31, 2025. Filed May 8, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 8, 2025
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8. Inventory
| 8. | INVENTORY |
The following table shows the composition of our inventory balances:
| ($ in millions) | At March 31, 2025 | At December 31, 2024 |
|---|---|---|
| Real estate inventory(1) | 727 | 725 |
| Other | 10 | 10 |
| $737 | $735 | |
| (1)Represents completed inventory that is registered for sale as VOIs and vacation ownership inventory expected to be reacquired pursuant to estimated future defaults on originated vacation ownership notes receivable. | ||
Product cost true-up activity relating to vacation ownership products increased carrying values of inventory by $13 million during the first quarter of 2025 and $5 million during the first quarter of 2024.
In addition to the above, at March 31, 2025 and December 31, 2024, we had $266 million and $271 million, respectively, of completed vacation ownership units which are classified as a component of Property and equipment, net until the time at which they are available and legally registered for sale as vacation ownership products.
We also had deposits on future purchases of inventory of $33 million, of which $29 million was included in Other assets and $4 million was included in Accounts and contracts receivable, net on our Balance Sheet as of both March 31, 2025 and December 31, 2024.
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