Travel+Leisure Timeshare Market Dynamics and Financial Overview
APPENDIX: NON-GAAP RECONCILIATION
Non-GAAP Measure: Reconciliation of Net VOI Sales to Gross VOI Sales ($ in millions)
The Company believes gross VOI sales provide an enhanced understanding of the performance of its vacation
ownership business because it directly measures the sales volume of this business during a given reporting period.
3Q 2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
Net VOI Sales
$ 433
$ 1,484
$ 1,176
$ 505
$ 1,848
$ 1,769
$ 1,684
$ 1,601
$ 1,604
$ 1,485
$ 1,379
$ 1,323
$ 1,150
$ 1,072
$ 1,053
$ 1,463
$ 1,666
Net effect of percentage-of-completion accounting
(13)
12
1
(187)
74
22
Loan loss provision
99
302
129
415
479
456
420
342
248
260
349
409
339
341
449
450
305
Gross VOI sales, net of Fee-for-Service sales
532
1,786
1,305
920
2,327
2,225
2,104
1,943
1,839
1,757
1,729
1,732
1,489
1,413
1,315
1,987
1,993
Fee-for-Service sales
66
196
186
47
28
46
34
64
126
132
160
49
106
51
Gross VOl sales
$ 598
$1,982
$ 1,491
$ 967
$ 2,355
$ 2,271
$ 2,138
$ 2,007
$ 1,965
$ 1,889
$ 1,889
$ 1,781
$1,595
$ 1,464
$ 1,315
$1,987
$ 1,993
TRAVEL+
LEISURE
2011-2019 Average
$ 1,988
Note: 2007-2015 Gross VOI sales does not reflect the adoption of ASC 606 revenue recognition accounting standard.
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