VAC Stock Balance Sheets

Marriott Vacations Worldwide Quarterly Balance Sheets Chart

Quarterly

Annual

Goodwill

Account Receivables

Cash and Cash Eq

Account Payables

Deferred Revenue

Inventory

Marriott Vacations Worldwide Quarterly Balance Sheets Table

Quarterly

Annual

Unit: USD	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-30	2016-09-09	2016-06-17	2016-03-25	2015-09-11	2015-06-19	2015-03-27	2015-01-01	2014-09-12	2014-06-20	2014-03-28	2014-01-02	2013-09-06	2013-06-14	2013-03-22	2013-01-03	2012-12-28	2012-09-07	2012-06-15	2012-03-23	2011-12-30	2011-09-09

assets
cash and cash equivalents	205,000,000	196,000,000	197,000,000	197,000,000	206,000,000	237,000,000	248,000,000	265,000,000	242,000,000	306,000,000	524,000,000	294,000,000	324,000,000	354,000,000	342,000,000	448,000,000	1,312,000,000	643,000,000	524,000,000	660,000,000	566,000,000	651,000,000	287,000,000	183,000,000	179,000,000	222,000,000	231,000,000	441,000,000	547,667,000	323,831,000	409,059,000	440,074,000	85,151,000	101,841,000	147,102,000	174,764,000	97,418,000	106,613,000	321,690,000	250,906,000	272,180,000	177,061,000	146,000,000	170,000,000	159,000,000	347,000,000	288,000,000	104,000,000	119,000,000	200,000,000	103,000,000	212,000,000	83,000,000	77,000,000	110,000,000	25,000,000
restricted cash	263,000,000	291,000,000	331,000,000	350,000,000	251,000,000	313,000,000	326,000,000	238,000,000	238,000,000	268,000,000	330,000,000	249,000,000	282,000,000	296,000,000	461,000,000	434,000,000	368,000,000	535,000,000	468,000,000	368,000,000	341,000,000	369,000,000	414,000,000	322,000,000	337,000,000	356,000,000	383,000,000	365,000,000	170,536,000	61,298,000	81,553,000	61,701,000	58,753,000	64,033,000	66,000,000	117,839,000	68,340,000	55,252,000	121,752,000	65,559,000	62,016,000	71,451,000	65,000,000	42,000,000	74,000,000	110,000,000	65,000,000	64,000,000	46,000,000	86,000,000	68,000,000	72,000,000	72,000,000	59,000,000	81,000,000	65,000,000
accounts and contracts receivable	378,000,000	389,000,000	387,000,000	340,000,000	370,000,000	422,000,000	385,000,000	298,000,000	313,000,000	289,000,000	292,000,000	248,000,000																			154,174,000	136,107,000	131,395,000	127,347,000	161,733,000	134,706,000	142,864,000	131,538,000	128,321,000	116,544,000	114,863,000	131,850,000	113,000,000	121,000,000	130,000,000	110,000,000	117,000,000	101,000,000	111,000,000	109,000,000	100,000,000	121,000,000	101,000,000	110,000,000	105,000,000	95,000,000
vacation ownership notes receivable	2,485,000,000	2,446,000,000	2,440,000,000	2,387,000,000	2,308,000,000	2,336,000,000	2,343,000,000	2,291,000,000	2,272,000,000	2,220,000,000	2,198,000,000	2,142,000,000	2,075,000,000	2,030,000,000	2,045,000,000	2,026,000,000	1,991,000,000	1,769,000,000	1,840,000,000	1,913,000,000	2,014,000,000	2,159,000,000	2,233,000,000	2,168,000,000	2,098,000,000	2,055,000,000	2,039,000,000	1,959,000,000	1,167,779,000	1,132,783,000	1,119,631,000	1,076,402,000	1,036,449,000	997,419,000	972,311,000	927,348,000	903,747,000	908,587,000	887,456,000	878,858,000	888,193,000	920,631,000	912,000,000	920,000,000	936,000,000	917,000,000	978,000,000	988,000,000	1,016,000,000	970,000,000	1,056,000,000
inventory	744,000,000	737,000,000	735,000,000	769,000,000	643,000,000	637,000,000	634,000,000	642,000,000	660,000,000	672,000,000	660,000,000	668,000,000	695,000,000	693,000,000	719,000,000	741,000,000	833,000,000	785,000,000	759,000,000	761,000,000	771,000,000	776,000,000	859,000,000	910,000,000	888,000,000	910,000,000	863,000,000	829,000,000	690,154,000	726,969,000	716,533,000	735,072,000	744,430,000	692,757,000	712,536,000	714,404,000	702,377,000	715,072,000	721,664,000	704,707,000	724,520,000	669,243,000	799,000,000	826,000,000	850,000,000	773,000,000	859,000,000	869,000,000	873,000,000	870,000,000	881,000,000	897,000,000	907,000,000	932,000,000	959,000,000	1,014,000,000
property and equipment	1,284,000,000	1,166,000,000	1,170,000,000	1,165,000,000	1,295,000,000	1,299,000,000	1,260,000,000	1,250,000,000	1,221,000,000	1,215,000,000	1,139,000,000	1,136,000,000	1,151,000,000	1,162,000,000	1,136,000,000	1,077,000,000	1,026,000,000	887,000,000	791,000,000	809,000,000	835,000,000	833,000,000	751,000,000	770,000,000	837,000,000	848,000,000	951,000,000	952,000,000	246,940,000	251,264,000	252,727,000	253,738,000	249,264,000	202,380,000	202,802,000	214,445,000	228,848,000	222,516,000	247,317,000	188,714,000	188,431,000	288,803,000	212,000,000	215,000,000	229,000,000	147,000,000	250,000,000	252,000,000	256,000,000	254,000,000	261,000,000	272,000,000	275,000,000	282,000,000	285,000,000	291,000,000
goodwill	3,117,000,000	3,117,000,000	3,117,000,000	3,117,000,000	3,117,000,000	3,117,000,000	3,117,000,000	3,117,000,000	3,117,000,000	3,117,000,000	3,117,000,000	3,117,000,000	3,117,000,000	3,142,000,000	3,150,000,000	3,086,000,000	3,116,000,000	2,817,000,000	2,817,000,000	2,817,000,000	2,817,000,000	2,817,000,000	2,892,000,000	2,890,000,000	2,824,000,000	2,828,000,000	2,828,000,000	2,747,000,000
intangibles	762,000,000	775,000,000	790,000,000	807,000,000	822,000,000	839,000,000	854,000,000	868,000,000	884,000,000	898,000,000	911,000,000	924,000,000	941,000,000	978,000,000	993,000,000	1,007,000,000	1,017,000,000	938,000,000	952,000,000	963,000,000	977,000,000	989,000,000	1,027,000,000	1,044,000,000	1,075,000,000	1,092,000,000	1,107,000,000	1,216,000,000
other	649,000,000	765,000,000	641,000,000	608,000,000	599,000,000	667,000,000	513,000,000	484,000,000	535,000,000	617,000,000	468,000,000	459,000,000	511,000,000	614,000,000	488,000,000	501,000,000	534,000,000	594,000,000	471,000,000	448,000,000	509,000,000	571,000,000	428,000,000	400,000,000	458,000,000	524,000,000	292,000,000	268,000,000	166,875,000	200,768,000	172,516,000	119,942,000	127,994,000	160,397,000	128,935,000	102,664,000	109,960,000	191,207,000	98,827,000	117,924,000	138,666,000	135,987,000	100,000,000	116,000,000	141,000,000	136,000,000	103,000,000	133,000,000	148,000,000	143,000,000	135,000,000	107,000,000	133,000,000	151,000,000	157,000,000	94,000,000
total assets	9,887,000,000	9,882,000,000	9,808,000,000	9,740,000,000	9,611,000,000	9,867,000,000	9,680,000,000	9,453,000,000	9,482,000,000	9,602,000,000	9,639,000,000	9,237,000,000	9,340,000,000	9,503,000,000	9,613,000,000	9,543,000,000	10,414,000,000	9,187,000,000	8,898,000,000	9,011,000,000	9,117,000,000	9,432,000,000	9,214,000,000	9,059,000,000	9,023,000,000	9,112,000,000	9,018,000,000	9,013,000,000	3,057,570,000	2,759,951,000	2,906,193,000	2,823,036,000	2,433,436,000	2,346,174,000	2,391,419,000	2,386,170,000	2,253,554,000	2,330,785,000	2,527,027,000	2,323,212,000	2,388,869,000	2,395,026,000	2,347,000,000	2,410,000,000	2,519,000,000	2,540,000,000	2,660,000,000	2,511,000,000	2,569,000,000	2,632,000,000	2,604,000,000	2,746,000,000	2,647,000,000	2,721,000,000	2,846,000,000	3,165,000,000
liabilities and equity
accounts payable	225,000,000	251,000,000	343,000,000	243,000,000	198,000,000	221,000,000	362,000,000	238,000,000	209,000,000	222,000,000	356,000,000	221,000,000	217,000,000	212,000,000	265,000,000	190,000,000	192,000,000	159,000,000	209,000,000	143,000,000	151,000,000	169,000,000	286,000,000	248,000,000	164,000,000	168,000,000	245,000,000	181,000,000	84,331,000	79,959,000	145,405,000	76,766,000	76,456,000	72,277,000	124,439,000	79,024,000	74,484,000	80,618,000	77,516,000	80,450,000	76,569,000	139,120,000	79,000,000	75,000,000	86,000,000	114,000,000	94,000,000	81,000,000	81,000,000	129,000,000	113,000,000	79,000,000	81,000,000	89,000,000	145,000,000	67,000,000
advance deposits	164,000,000	167,000,000	162,000,000	167,000,000	166,000,000	176,000,000	164,000,000	169,000,000	175,000,000	178,000,000	158,000,000	178,000,000	195,000,000	194,000,000	160,000,000	166,000,000	176,000,000	167,000,000	147,000,000	154,000,000	153,000,000	161,000,000	187,000,000	185,000,000	186,000,000	128,000,000	113,000,000	124,000,000	95,816,000	96,647,000	63,062,000	60,247,000	59,401,000	61,685,000	55,542,000	86,130,000	80,876,000	77,141,000	66,436,000	64,148,000	63,439,000	69,064,000	55,000,000	55,000,000	53,000,000	60,000,000	44,000,000	46,000,000	47,000,000	48,000,000	42,000,000	43,000,000	44,000,000	42,000,000	46,000,000	56,000,000
accrued liabilities	363,000,000	426,000,000	384,000,000	384,000,000	371,000,000	384,000,000	343,000,000	359,000,000	322,000,000	334,000,000	369,000,000	342,000,000	330,000,000	347,000,000	345,000,000	375,000,000	375,000,000	345,000,000	349,000,000	320,000,000	317,000,000	344,000,000	397,000,000	293,000,000	417,000,000	520,000,000	423,000,000	370,000,000	99,469,000	121,975,000	168,591,000	128,236,000	112,916,000	154,056,000	147,469,000	144,475,000	132,733,000	178,642,000	150,928,000	137,261,000	171,325,000	164,791,000	147,000,000	168,000,000	210,000,000	166,000,000	149,000,000	152,000,000	175,000,000	185,000,000	181,000,000	147,000,000	127,000,000	121,000,000	121,000,000	118,000,000
deferred revenue	397,000,000	442,000,000	354,000,000	350,000,000	418,000,000	482,000,000	382,000,000	371,000,000	417,000,000	448,000,000	344,000,000	346,000,000	372,000,000	507,000,000	453,000,000	540,000,000	474,000,000	524,000,000	488,000,000	488,000,000	470,000,000	536,000,000	433,000,000	436,000,000	356,000,000	437,000,000	319,000,000	325,000,000	98,500,000	114,243,000	98,286,000	103,376,000	115,536,000	127,607,000	95,495,000	47,000,000	30,600,000	28,562,000	44,499,000	32,845,000	27,018,000	35,276,000	23,000,000	19,000,000	16,000,000	39,000,000	19,000,000	21,000,000	21,000,000	19,000,000	32,000,000	49,000,000	35,000,000	27,000,000	29,000,000	48,000,000
payroll and benefits liability	176,000,000	208,000,000	220,000,000	203,000,000	163,000,000	209,000,000	205,000,000	193,000,000	174,000,000	206,000,000	251,000,000	248,000,000	204,000,000	214,000,000	201,000,000	201,000,000	205,000,000	188,000,000	157,000,000	185,000,000	153,000,000	164,000,000	186,000,000	185,000,000	172,000,000	172,000,000	211,000,000	194,000,000	85,216,000	81,425,000	111,885,000	97,080,000	87,000,000	81,175,000	95,516,000	81,720,000	75,309,000	75,749,000	87,871,000	74,582,000	73,347,000	104,331,000	77,000,000	67,000,000	66,000,000	93,000,000	80,000,000	74,000,000	66,000,000	82,000,000	82,000,000	72,000,000	59,000,000	52,000,000	55,000,000	71,000,000
deferred compensation liability	203,000,000	186,000,000	195,000,000	191,000,000	179,000,000	173,000,000	168,000,000	156,000,000	154,000,000	147,000,000	139,000,000	130,000,000	130,000,000	136,000,000	142,000,000	135,000,000	131,000,000	124,000,000	127,000,000	117,000,000	112,000,000	103,000,000	110,000,000	104,000,000	102,000,000	100,000,000	93,000,000	94,000,000	82,624,000	79,201,000	74,851,000	72,803,000	69,928,000	67,022,000	62,874,000	59,877,000	57,567,000	55,437,000	48,468,000	46,534,000	44,598,000	51,031,000	40,000,000	39,000,000	38,000,000	42,000,000	37,000,000	37,000,000	37,000,000	37,000,000	45,000,000	45,000,000	45,000,000	47,000,000	47,000,000	63,000,000
securitized debt	2,188,000,000	2,147,000,000	2,136,000,000	2,248,000,000	2,098,000,000	2,178,000,000	2,096,000,000	2,026,000,000	2,028,000,000	1,936,000,000	1,938,000,000	1,809,000,000	1,846,000,000	1,779,000,000	1,856,000,000	1,594,000,000	1,775,000,000	1,431,000,000	1,588,000,000	1,751,000,000	1,887,000,000	1,926,000,000	1,871,000,000	1,686,000,000	1,792,000,000	1,688,000,000	1,694,000,000	1,688,000,000
debt	3,197,000,000	3,151,000,000	3,089,000,000	3,038,000,000	3,137,000,000	3,111,000,000	3,049,000,000	3,031,000,000	3,001,000,000	3,129,000,000	3,088,000,000	2,749,000,000	2,748,000,000	2,751,000,000	2,631,000,000	2,795,000,000	3,528,000,000	3,025,000,000	2,680,000,000	2,680,000,000	2,680,000,000	2,778,000,000	2,216,000,000	2,294,000,000	2,157,000,000	2,201,000,000	2,124,000,000	2,235,000,000	1,332,276,000	1,012,350,000	1,095,213,000	1,153,222,000	773,557,000	683,767,000	737,224,000	804,721,000	733,828,000	689,234,000	769,716,000	561,133,000	618,946,000	678,793,000	538,000,000	570,000,000	597,000,000	711,000,000	751,000,000	647,000,000	686,000,000	678,000,000	678,000,000	793,000,000	714,000,000	774,000,000	850,000,000	833,000,000
deferred taxes	358,000,000	335,000,000	345,000,000	372,000,000	370,000,000	328,000,000	280,000,000	335,000,000	344,000,000	339,000,000	331,000,000	374,000,000	342,000,000	333,000,000	350,000,000	325,000,000	347,000,000	286,000,000	274,000,000	306,000,000	289,000,000	290,000,000	300,000,000	307,000,000	343,000,000	332,000,000	318,000,000	266,000,000	101,760,000	96,549,000	90,725,000	169,295,000	156,835,000	149,574,000	149,168,000	132,735,000	126,093,000	114,765,000	94,544,000	96,748,000	87,494,000	104,384,000	93,000,000	58,000,000	61,000,000	79,000,000	66,000,000	41,000,000	42,000,000	60,000,000	43,000,000	67,000,000	61,000,000	70,000,000		403,000,000
total liabilities	7,403,000,000	7,447,000,000	7,367,000,000	7,321,000,000	7,239,000,000	7,489,000,000	7,298,000,000	7,043,000,000	7,004,000,000	7,122,000,000	7,141,000,000	6,609,000,000	6,594,000,000	6,679,000,000	6,627,000,000	6,539,000,000	7,402,000,000	6,449,000,000	6,216,000,000	6,328,000,000	6,397,000,000	6,660,000,000	6,183,000,000	5,937,000,000	5,753,000,000	5,761,000,000	5,552,000,000	5,492,000,000	1,991,929,000	1,693,721,000	1,861,173,000	1,873,814,000	1,464,618,000	1,412,925,000	1,483,600,000	1,517,896,000	1,406,806,000	1,411,759,000	1,491,056,000	1,262,588,000	1,346,363,000	1,418,759,000	1,217,000,000	1,236,000,000	1,331,000,000	1,460,000,000	1,442,000,000	1,321,000,000	1,401,000,000	1,423,000,000	1,453,000,000	1,594,000,000	1,493,000,000	1,573,000,000	1,712,000,000	1,517,000,000
contingencies and commitments
preferred stock — 0.01 par value; 2,000,000 shares authorized; none issued or outstanding
common stock — 0.01 par value; 100,000,000 shares authorized; 75,889,673 and 75,852,678 shares issued, respectively	1,000,000
treasury stock	-2,404,000,000	-2,406,000,000	-2,378,000,000	-2,370,000,000	-2,362,000,000	-2,351,000,000	-2,332,000,000	-2,298,000,000	-2,213,000,000	-2,132,000,000	-2,054,000,000	-1,882,000,000	-1,666,000,000	-1,474,000,000	-1,356,000,000	-1,282,000,000	-1,278,000,000	-1,334,000,000	-1,334,000,000	-1,334,000,000	-1,334,000,000	-1,335,000,000	-1,253,000,000	-1,130,000,000	-1,004,000,000	-895,000,000	-790,000,000	-696,000,000	-695,746,000	-695,944,000	-694,233,000	-689,134,000	-610,115,000	-606,411,000	-606,631,000	-592,700,000	-593,052,000	-503,218,000	-335,339,000	-295,466,000	-277,629,000	-429,990,000	-161,000,000	-115,000,000	-63,000,000	-229,000,000				-26,000,000
additional paid-in capital	3,979,000,000	3,968,000,000	3,975,000,000	3,969,000,000	3,959,000,000	3,951,000,000	3,955,000,000	3,953,000,000	3,947,000,000	3,937,000,000	3,941,000,000	3,968,000,000	3,963,000,000	3,945,000,000	4,072,000,000	4,056,000,000	4,047,000,000	3,843,000,000	3,760,000,000	3,749,000,000	3,736,000,000	3,729,000,000	3,738,000,000	3,740,000,000	3,730,000,000	3,717,000,000	3,721,000,000	3,697,000,000	1,190,448,000	1,184,106,000	1,188,538,000	1,184,635,000	1,161,507,000	1,159,454,000	1,162,283,000	1,142,480,000	1,139,366,000	1,149,442,000	1,138,049,000	1,135,143,000	1,128,615,000	1,150,731,000	1,109,000,000	1,129,000,000	1,127,000,000	1,137,000,000	1,122,000,000	1,119,000,000	1,116,000,000	1,130,000,000	1,116,000,000	1,113,000,000	1,122,000,000	1,118,000,000	1,117,000,000
accumulated other comprehensive loss	-14,000,000	-9,000,000										6,000,000	-1,000,000	4,000,000	-16,000,000	-39,000,000	-38,000,000	-45,000,000		-67,000,000	-75,000,000	-77,000,000
retained earnings	922,000,000	881,000,000	852,000,000	830,000,000	773,000,000	763,000,000	742,000,000	734,000,000	718,000,000	654,000,000	593,000,000	533,000,000	448,000,000	338,000,000	275,000,000	237,000,000	250,000,000	244,000,000	272,000,000	309,000,000	371,000,000	441,000,000	569,000,000	520,000,000	548,000,000	519,000,000	523,000,000	478,000,000	554,795,000	554,709,000	533,601,000	436,196,000	404,869,000	370,137,000	346,341,000	306,024,000	287,333,000	259,499,000	219,593,000	205,828,000	179,705,000	243,781,000	162,000,000	137,000,000	101,000,000	155,000,000	76,000,000	51,000,000	32,000,000	82,000,000	14,000,000	21,000,000	15,000,000	7,000,000
total mvw stockholders' equity	2,484,000,000	2,435,000,000	2,442,000,000	2,419,000,000	2,372,000,000	2,379,000,000	2,382,000,000
noncontrolling interests			-1,000,000			-1,000,000		2,000,000	2,000,000	2,000,000	2,000,000	2,000,000	1,000,000	10,000,000	10,000,000	31,000,000	30,000,000	29,000,000	31,000,000	25,000,000	21,000,000	13,000,000	12,000,000	10,000,000	6,000,000	5,000,000		25,000,000
total equity	2,484,000,000	2,435,000,000	2,441,000,000	2,419,000,000	2,372,000,000	2,378,000,000	2,382,000,000	2,410,000,000	2,478,000,000	2,480,000,000	2,498,000,000	2,628,000,000	2,746,000,000	2,824,000,000	2,986,000,000	3,004,000,000	3,012,000,000	2,738,000,000	2,682,000,000	2,683,000,000	2,720,000,000	2,772,000,000	3,031,000,000	3,122,000,000	3,270,000,000	3,351,000,000	3,466,000,000	3,521,000,000	1,065,641,000	1,066,230,000	1,045,020,000	949,222,000	968,818,000	933,249,000	907,819,000	868,274,000	846,748,000	919,026,000	1,035,971,000	1,060,624,000	1,042,506,000	976,267,000	1,130,000,000	1,174,000,000	1,188,000,000	1,080,000,000	1,218,000,000	1,190,000,000	1,168,000,000	1,209,000,000	1,151,000,000	1,152,000,000	1,154,000,000	1,148,000,000	1,134,000,000
total liabilities and equity	9,887,000,000	9,882,000,000	9,808,000,000	9,740,000,000	9,611,000,000	9,867,000,000	9,680,000,000	9,453,000,000	9,482,000,000	9,602,000,000	9,639,000,000	9,237,000,000	9,340,000,000	9,503,000,000	9,613,000,000	9,543,000,000	10,414,000,000	9,187,000,000	8,898,000,000	9,011,000,000	9,117,000,000	9,432,000,000	9,214,000,000	9,059,000,000	9,023,000,000	9,112,000,000	9,018,000,000	9,013,000,000	3,057,570,000	2,759,951,000	2,906,193,000	2,823,036,000	2,433,436,000	2,346,174,000	2,391,419,000	2,386,170,000	2,253,554,000	2,330,785,000	2,527,027,000	2,323,212,000	2,388,869,000	2,395,026,000	2,347,000,000	2,410,000,000	2,519,000,000	2,540,000,000	2,660,000,000	2,511,000,000	2,569,000,000	2,632,000,000	2,604,000,000	2,746,000,000	2,647,000,000	2,721,000,000	2,846,000,000
the abbreviation vies above means variable interest entities.
common stock — 0.01 par value; 100,000,000 shares authorized; 75,855,593 and 75,852,678 shares issued, respectively		1,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 75,852,678 and 75,807,882 shares issued, respectively			1,000,000
accumulated other comprehensive income			-8,000,000	-11,000,000	1,000,000	15,000,000	16,000,000	18,000,000	23,000,000	18,000,000	15,000,000								-48,000,000				-36,000,000	-19,000,000	-11,000,000	4,000,000	6,000,000	16,000,000	15,774,000	22,989,000	16,745,000	17,156,000	12,189,000	9,701,000	5,460,000	12,104,000	12,735,000	12,937,000	13,305,000	14,756,000	11,452,000	11,381,000	20,000,000	23,000,000	23,000,000	17,000,000	20,000,000	20,000,000	20,000,000	23,000,000	21,000,000	18,000,000	17,000,000	23,000,000	19,000,000	29,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 75,847,792 and 75,807,882 shares issued, respectively				1,000,000	1,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 75,847,526 and 75,807,882 shares issued, respectively						1,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 75,807,882 and 75,744,524 shares issued, respectively							1,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 75,807,873 and 75,744,524 shares issued, respectively								1,000,000
total mvw shareholders' equity								2,408,000,000	2,476,000,000	2,478,000,000	2,496,000,000	2,626,000,000	2,745,000,000	2,814,000,000	2,976,000,000	2,973,000,000	2,982,000,000	2,709,000,000	2,651,000,000	2,658,000,000	2,699,000,000	2,759,000,000	3,019,000,000	3,112,000,000	3,264,000,000	3,346,000,000	3,461,000,000	3,496,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 75,806,578 and 75,744,524 shares issued, respectively									1,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 75,805,974 and 75,744,524 shares issued, respectively										1,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 75,744,524 and 75,519,049 shares issued, respectively											1,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 75,744,121 and 75,519,049 shares issued, respectively												1,000,000
accounts receivable													244,000,000	234,000,000	279,000,000	223,000,000	217,000,000	219,000,000	276,000,000	272,000,000	287,000,000	267,000,000	323,000,000	372,000,000	327,000,000	277,000,000	324,000,000	236,000,000	67,619,000	63,038,000
common stock — 0.01 par value; 100,000,000 shares authorized; 75,741,585 and 75,519,049 shares issued, respectively													1,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 75,721,548 and 75,519,049 shares issued, respectively														1,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 75,519,049 and 75,279,061 shares issued, respectively															1,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 75,491,621 and 75,279,061 shares issued, respectively																1,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 75,457,876 and 75,279,061 shares issued, respectively																	1,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 75,454,906 and 75,279,061 shares issued, respectively																		1,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 75,279,061 and 75,020,272 shares issued, respectively																			1,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 75,250,627 and 75,020,272 shares issued, respectively																				1,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 75,249,855 and 75,020,272 shares issued, respectively																					1,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 75,235,823 and 75,020,272 shares issued, respectively																						1,000,000
preferred stock — .01 par value; 2,000,000 shares authorized; none issued or outstanding
common stock — .01 par value; 100,000,000 shares authorized; 75,020,272 and 57,626,462 shares issued, respectively																							1,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 57,874,390 and 57,626,462 shares issued, respectively																								1,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 57,862,278 and 57,626,462 shares issued, respectively																									1,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 57,839,682 and 57,626,462 shares issued, respectively																										1,000,000
common stock — .01 par value; 100,000,000 shares authorized; 57,626,462 and 36,861,843 shares issued, respectively																											1,000,000
noncontrolling interest																											5,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 57,611,046 and 36,861,843 shares issued, respectively																												1,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 36,981,204 and 36,861,843 shares issued, respectively																													370,000
common stock — 0.01 par value; 100,000,000 shares authorized; 36,976,481 and 36,861,843 shares issued, respectively																														370,000
common stock — .01 par value; 100,000,000 shares authorized; 36,861,843 and 36,633,868 shares issued, respectively																															369,000
common stock — 0.01 par value; 100,000,000 shares authorized; 36,857,186 and 36,633,868 shares issued, respectively																																369,000
operating activities
net income																																118,738,000			137,348,000	87,524,000	60,717,000	24,408,000	89,650,000	68,095,000	34,054,000	122,799,000	80,000,000	55,000,000	19,000,000	81,000,000	74,000,000	49,000,000	18,000,000	80,000,000	16,000,000	23,000,000	17,000,000	9,000,000	-178,000,000	-186,000,000
adjustments to reconcile net income to net cash from operating activities:
depreciation																																15,802,000			21,044,000	14,856,000	10,177,000	5,125,000	13,850,000	8,558,000	4,065,000	22,217,000	13,000,000	9,000,000	4,000,000	19,000,000	16,000,000	11,000,000	6,000,000	23,000,000	30,000,000	21,000,000	14,000,000	7,000,000	33,000,000	23,000,000
amortization of debt discount and issuance costs																																5,783,000
benefit from loan losses																																38,577,000			47,292,000	31,817,000	19,591,000	8,287,000	22,753,000	15,662,000	8,437,000	33,083,000	22,000,000	15,000,000	7,000,000	30,000,000	26,000,000	18,000,000	9,000,000	36,000,000	42,000,000	29,000,000	23,000,000	9,000,000	37,000,000
share-based compensation																																12,349,000			13,949,000	9,995,000	6,856,000	2,524,000	9,633,000	6,588,000	2,643,000	14,142,000	9,000,000	6,000,000	2,000,000	13,000,000	8,000,000	6,000,000	2,000,000	12,000,000	12,000,000	8,000,000	6,000,000	3,000,000	11,000,000
gain on disposal of property and equipment																																1,683,000			-11,201,000	-11,129,000	-10,675,000		-9,492,000	-9,512,000	-887,000	-9,557,000			-1,000,000	-5,000,000	-1,000,000	-1,000,000	-1,000,000		-8,000,000				-2,000,000
deferred income taxes																																20,769,000			38,834,000	21,823,000	15,792,000	5,549,000	17,261,000	17,850,000	8,600,000	28,162,000	29,000,000		-2,000,000	19,000,000	23,000,000	-1,000,000	-1,000,000	18,000,000	-50,000,000	-24,000,000	-17,000,000	-8,000,000	-57,000,000
net change in assets and liabilities:
notes receivable originations																																-345,663,000			-356,859,000	-218,190,000	-124,318,000	-57,524,000	-189,029,000	-112,060,000	-48,946,000	-311,195,000	-170,000,000	-104,000,000	-45,000,000	-268,000,000	-166,000,000	-100,000,000	-44,000,000	-260,000,000	-262,000,000	-164,000,000	-99,000,000
notes receivable collections																																203,840,000			253,622,000	177,451,000	120,548,000	60,532,000	192,852,000	132,397,000	67,518,000	270,170,000	204,000,000	137,000,000	71,000,000	287,000,000	217,000,000	148,000,000	74,000,000	310,000,000	311,000,000	217,000,000	148,000,000
purchase of vacation ownership units for future transfer to inventory																																-33,594,000
other assets																																23,110,000			11,092,000	38,103,000	26,111,000	-5,285,000	26,524,000	8,154,000	-8,096,000	-10,648,000	46,000,000	27,000,000	2,000,000	9,000,000	33,000,000		-16,000,000		24,000,000	45,000,000	21,000,000	5,000,000	-24,000,000
accounts payable, advance deposits and accrued liabilities																																-64,994,000			-19,905,000	-64,643,000	-78,190,000	-27,836,000	-52,380,000	-66,223,000	-25,064,000	23,419,000	-66,000,000	-56,000,000	-9,000,000	-11,000,000	-74,000,000	-83,000,000	-35,000,000	-16,000,000	21,000,000	-42,000,000	-56,000,000	-60,000,000	48,000,000
payroll and benefit liabilities																																1,241,000			-6,933,000	-20,898,000	-27,313,000	-28,586,000	-4,959,000	-18,382,000	-19,583,000	11,380,000		-15,000,000	-16,000,000	9,000,000	-2,000,000	-7,000,000	-15,000,000		27,000,000	17,000,000	4,000,000	-3,000,000	-25,000,000
other liabilities																																-638,000			1,863,000	7,138,000	20,348,000	39,399,000	6,236,000	18,013,000	27,937,000	1,060,000	3,000,000	15,000,000	27,000,000	-3,000,000	1,000,000	12,000,000	22,000,000		-5,000,000	4,000,000	17,000,000	18,000,000
net cash from operating activities																																70,787,000			140,172,000	90,885,000	21,078,000	9,878,000	100,724,000	78,665,000	32,069,000	109,034,000	206,000,000	98,000,000	48,000,000	291,000,000	123,000,000	34,000,000	-11,000,000	162,000,000	163,000,000	158,000,000	106,000,000	25,000,000	321,000,000	249,000,000
investing activities
capital expenditures for property and equipment																																-21,167,000			-34,770,000	-22,445,000	-15,142,000	-6,331,000	-20,873,000	-15,718,000	-10,562,000	-35,735,000			-1,000,000	-15,000,000	-11,000,000	-7,000,000	-3,000,000	-22,000,000	-17,000,000	-11,000,000	-7,000,000	-3,000,000	-15,000,000	-11,000,000
purchase of company owned life insurance																																-12,100,000
dispositions																																17,000			68,953,000	68,525,000	69,738,000	9,000	20,605,000	20,346,000	197,000	20,644,000	33,000,000	33,000,000	22,000,000	82,000,000	3,000,000	3,000,000	3,000,000	3,000,000	8,000,000				19,000,000	1,000,000
net cash from investing activities																																-33,250,000			39,021,000	-629,000	57,565,000	9,811,000	-60,542,000	48,386,000	36,738,000	-25,068,000	46,000,000	74,000,000	33,000,000	43,000,000	-4,000,000		22,000,000	-36,000,000	3,000,000	1,000,000	5,000,000	19,000,000	9,000,000	-10,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 36,839,064 and 36,633,868 shares issued, respectively																																	368,000
common stock — 0.01 par value; 100,000,000 shares authorized; 36,787,613 and 36,633,868 shares issued, respectively																																		368,000
mandatorily redeemable preferred stock of consolidated subsidiary																																				39,108,000	39,068,000	39,029,000	38,935,000	38,895,000	38,856,000	38,989,000	40,000,000	40,000,000	40,000,000	40,000,000	40,000,000	40,000,000	40,000,000	40,000,000	40,000,000	40,000,000	40,000,000	40,000,000	40,000,000
common stock — .01 par value; 100,000,000 shares authorized; 36,633,868 and 36,393,800 shares issued, respectively																																			366,000
amortization of debt issuance costs																																			6,509,000	3,784,000	2,559,000	1,300,000	3,739,000	2,506,000	1,267,000	5,586,000	4,000,000	3,000,000	1,000,000	5,000,000	4,000,000	3,000,000	1,000,000	6,000,000	7,000,000	5,000,000	3,000,000	2,000,000	4,000,000
employee stock purchase plan																																			1,317,000	673,000	307,000					560,000
non-cash litigation settlement																																			-303,000				-262,000	-262,000	-262,000	-262,000				24,000,000
impairment charges																																										324,000	1,000,000	1,000,000		1,000,000	1,000,000	1,000,000		1,000,000					324,000,000
purchase of operating properties for future conversion to inventory
liability for marriott rewards customer loyalty program																																			-37,000				73,904,000	79,939,000	84,811,000	35,000	92,000,000	100,000,000	107,000,000	89,000,000	126,000,000	134,000,000	147,000,000	114,000,000	159,000,000
purchase of operating property to be sold
decrease (increase) in restricted cash																																			4,838,000							37,681,000									12,000,000		9,000,000
financing activities
borrowings from securitization transactions																																			376,622,000	376,622,000	91,281,000	51,130,000	255,000,000			255,000,000	23,000,000	23,000,000		263,000,000	361,000,000	111,000,000	111,000,000	361,000,000	238,000,000	238,000,000			125,000,000
repayment of debt related to securitization transactions																																			-322,864,000	-254,510,000	-84,040,000	-47,711,000	-186,383,000	-143,374,000	-78,811,000	-278,427,000	-163,000,000	-131,000,000	-81,000,000	-230,000,000	-288,000,000	-142,000,000		-361,000,000
borrowings from revolving corporate credit facility																																			85,000,000	85,000,000	85,000,000
repayment of revolving corporate credit facility																																			-85,000,000	-85,000,000	-40,000,000															-15,000,000	-15,000,000
proceeds from vacation ownership inventory arrangement																																							5,375,000	5,375,000	5,375,000	5,375,000
debt issuance costs																																			-4,065,000	-4,065,000	-231,000		-4,405,000	-30,000		-5,335,000				-7,000,000	-5,000,000				-7,000,000				-10,000,000
repurchase of common stock																																			-177,830,000	-163,359,000	-163,359,000	-73,228,000	-106,110,000	-66,237,000	-51,281,000	-201,380,000	-160,000,000	-89,000,000		-203,000,000
redemption of mandatorily redeemable preferred stock of consolidated subsidiary																																			-40,000,000
payment of dividends																																			-34,195,000	-26,067,000	-26,067,000	-17,585,000	-16,003,000	-8,085,000	-8,081,000	-23,793,000				-8,000,000
proceeds from stock option exercises																																			7,000				96,000	92,000	90,000	97,000	2,000,000	1,000,000		3,000,000	2,000,000	2,000,000	1,000,000	4,000,000	9,000,000	4,000,000	3,000,000	2,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 36,626,327 and 36,393,800 shares issued, respectively																																				366,000
non-cash reversal of litigation settlement																																				-303,000
increase in restricted cash																																				-46,709,000			-12,616,000							-24,000,000				-17,000,000					-15,000,000
accelerated stock repurchase forward contract																																				-14,470,000	-14,470,000
payment of withholding taxes on vesting of restricted stock units																																				-3,972,000	-3,876,000	-3,864,000	-9,615,000	-9,353,000	-9,061,000	-10,894,000			-4,000,000	-8,000,000	-4,000,000	-4,000,000	-4,000,000		-4,000,000	-3,000,000	-3,000,000	-3,000,000
net cash from financing activities																																				-89,627,000	-155,190,000	-90,667,000	-61,764,000	-221,503,000	-141,689,000	-249,747,000	-305,000,000	-202,000,000	-122,000,000	-185,000,000	66,000,000	-33,000,000	5,000,000	-29,000,000	-172,000,000	-56,000,000	-136,000,000	-77,000,000	-246,000,000	-240,000,000
effect of changes in exchange rates on cash and cash equivalents																																				-2,926,000	-3,096,000	530,000	-3,243,000	-1,157,000	-1,453,000	-3,673,000				-2,000,000					-1,000,000	-1,000,000	-2,000,000
decrease in cash and cash equivalents																																				-2,297,000	-79,643,000	-70,448,000	-24,825,000	-95,609,000	-74,335,000												-27,000,000
cash and cash equivalents, beginning of period																																				177,061,000	177,061,000	177,061,000	346,515,000	346,515,000	346,515,000		200,000,000	200,000,000	200,000,000		103,000,000	103,000,000	103,000,000			110,000,000	110,000,000	110,000,000
cash and cash equivalents, end of period																																				174,764,000	97,418,000	106,613,000	321,690,000	250,906,000	272,180,000		146,000,000	170,000,000	159,000,000		288,000,000	104,000,000	119,000,000			212,000,000	83,000,000	77,000,000
supplemental disclosures of non-cash investing and financing activities
non-cash issuance of note receivable																																							-500,000	-500,000	-500,000	-500,000
non-cash impact on additional paid-in capital for changes in deferred tax liabilities distributed to marriott vacations worldwide at spin-off																																							-77,000	-77,000						-4,000,000
dividends payable																																				-8,127,000			-7,786,000	-7,914,000		-8,898,000
non-cash issuance of treasury stock for employee stock purchase plan																																				673,000	307,000					-560,000
disposition accruals not yet paid																																				2,931,000	4,636,000
property acquired via capital lease																																				7,221,000	7,221,000	7,221,000
non-cash transfer of excess inventory to property and equipment for disposition																																				9,741,000	9,741,000
common stock — 0.01 par value; 100,000,000 shares authorized; 36,620,686 and 36,393,800 shares issued, respectively																																					366,000
non-cash reversal of litigation expense																																					-303,000	-303,000
decrease in restricted cash																																					2,969,000	16,133,000		43,758,000	47,103,000		21,000,000	44,000,000	12,000,000		4,000,000	4,000,000	22,000,000			9,000,000		22,000,000
common stock — 0.01 par value; 100,000,000 shares authorized; 36,564,810 and 36,393,800 shares issued, respectively																																						366,000
equity method income																																						-28,000	-148,000	-98,000	-13,000	-187,000
non-cash transfer of property and equipment to assets held for sale, within other assets																																						45,201,000
common stock — 0.01 par value; 100,000,000 shares authorized; 36,355,412 and 36,089,513 shares issued, respectively																																							363,000
purchase of operating hotels for future conversion to inventory																																							-61,554,000			-61,554,000
purchase of operating hotel to be sold																																							-47,658,000			-47,658,000
excess tax benefits from share-based compensation																																							68,000			9,380,000				5,000,000				3,000,000	-3,000,000
supplemental disclosures of non-cash financing activities
common stock — 0.01 par value; 100,000,000 shares authorized; 36,346,990 and 36,089,513 shares issued, respectively																																								363,000
purchase of operating hotel for future conversion to inventory																																								-46,614,000	-46,614,000
common stock — 0.01 par value; 100,000,000 shares authorized; 36,333,814 and 36,089,513 shares issued, respectively																																									363,000
impairment charges on equity investment																																													2,000,000
common stock — .01 par value; 100,000,000 shares authorized; 36,393,800 and 36,089,513 shares issued, respectively																																										364,000
impairment (reversals) charges on equity investment																																																							-4,000,000
borrowings on revolving corporate credit facility																																															25,000,000	25,000,000	25,000,000	25,000,000	15,000,000	15,000,000	15,000,000		1,000,000
repayments on revolving corporate credit facility																																															-25,000,000	-25,000,000	-25,000,000	-25,000,000	-15,000,000				-1,000,000
increase in cash and equivalents																																										-169,454,000				147,000,000				97,000,000	-7,000,000				84,000,000	-1,000,000
cash and cash equivalents, beginning of year																																										346,515,000				200,000,000				103,000,000	110,000,000				26,000,000
cash and cash equivalents, end of year																																										177,061,000				347,000,000				200,000,000	103,000,000				110,000,000
supplemental disclosure of non-cash investing and financing activities
non-cash transfer of sales centers from inventory to property and equipment																																										30,985,000
non-cash impact on additional paid-in capital to correct an immaterial error in deferred revenue at spin-off																																														-1,000,000
common stock — .01 par value; 100,000,000 shares authorized; 35,961,779 and 35,637,765 shares issued, respectively
increase in cash and cash equivalents																																											-54,000,000	-30,000,000	-41,000,000		185,000,000	1,000,000	16,000,000			102,000,000		-33,000,000
non-cash reduction of additional paid-in capital for decrease in deferred tax liabilities distributed to marriott vacations worldwide at spin-off																																													-1,000,000
common stock — .01 par value; 100,000,000 shares authorized; 35,878,433 and 35,637,765 shares issued, respectively
common stock — .01 par value; 100,000,000 shares authorized; 35,827,949 and 35,637,765 shares issued, respectively
purchase of treasury stock																																													-37,000,000					-26,000,000
common stock — .01 par value; 100,000,000 shares authorized; 36,089,513 and 35,637,765 shares issued, respectively
impairment charges (reversals) on equity investment																																																		1,000,000
non-cash impact on additional paid-in capital for elimination of a receivable from marriott international at spin-off
non-cash assumption of other debt																																																			1,000,000
common stock — .01 par value; 100,000,000 shares authorized; 35,394,854 and 35,026,533 shares issued and outstanding, respectively
impairment reversals on equity investment																																																			-2,000,000	-2,000,000	-2,000,000
supplemental disclosure of non-cash financing activities
non-cash reduction of additional paid-in capital for increase in deferred tax liabilities distributed to marriott vacations worldwide at spin-off																																																			-16,000,000	-12,000,000
preferred stock—.01 par value; 2,000,000 shares authorized; none issued or outstanding
common stock—.01 par value; 100,000,000 shares authorized; 35,369,314 and 35,026,533 shares issued and outstanding, respectively
common stock—.01 par value; 100,000,000 shares authorized; 35,326,993 and 35,026,533 shares issued and outstanding, respectively
repayment of debt related to securitizations																																																	-103,000,000		-411,000,000	-295,000,000	-136,000,000	-76,000,000	-295,000,000	-187,000,000
common stock — .01 par value; 100,000,000 shares authorized; 35,637,765 and 35,026,533 shares issued, respectively
note collections																																																							20,000,000	20,000,000
repayment of third party debt																																																							-2,000,000	-2,000,000
net distribution to marriott international																																																							-64,000,000
non-cash reduction of additional paid-in capital for elimination of a receivable from marriott international at spin-off																																																			-5,000,000
non-cash settlement of transactions with marriott international through equity																																																							478,000,000
issuance of preferred stock to marriott international																																																							40,000,000
equity distribution payable to marriott international																																																							-23,000,000
issuance of common stock for exercise of stock options																																																							1,000,000
preferred stock, .01 par value; 2,000,000 shares authorized; none issued or outstanding
common stock
equity method (income) loss																																																			-1,000,000
notes receivable																																																				1,065,000,000	1,076,000,000	1,110,000,000	1,149,000,000	1,178,000,000
liability for marriott rewards loyalty program																																																				179,000,000	194,000,000	215,000,000	225,000,000	179,000,000
common stock—.01 par value; 100,000,000 shares authorized; 34,415,985 and 33,845,700 shares issued and outstanding, respectively
impairment charge																																																								324,000,000
proceeds from sale of property and equipment																																																				3,000,000	3,000,000
common stock—.01 par value; 100,000,000 shares authorized; 34,334,887 and 33,845,700 shares issued and outstanding, respectively
preferred stock – .01 par value; 2,000,000 shares authorized; none issued or outstanding
common stock – .01 par value; 100,000,000 shares authorized; 34,221,695 and 33,845,700 shares issued and outstanding, respectively
net contribution from marriott international
preferred stock, .01 par value; authorized 2,000,000 shares, none issued or outstanding at december 30, 2011
divisional equity
retained deficit for the period subsequent to november 20, 2011																																																							-2,000,000
increase in fair value of retained interests in securitizations
equity method loss
non-cash restructuring charges
note advances
liabilities and divisional equity
net parent investment																																																								1,619,000,000
total liabilities and divisional equity																																																								3,165,000,000
income taxes																																																								-70,000,000
real estate inventory spending less than cost of sales																																																								92,000,000
notes receivable collections in excess of new mortgages																																																								53,000,000
financially reportable sales less than closed sales																																																								4,000,000
decrease in accounts payable																																																								-20,000,000
all other, including other working capital charges																																																								29,000,000
net transfers to parent																																																								-71,000,000
cash and cash equivalents, beginning																																																								26,000,000
cash and cash equivalents, end																																																								25,000,000

We provide you with 20 years of balance sheets for Marriott Vacations Worldwide stock, allowing you to gain comprehensive visibility into the fundamentals of the company. Our detailed breakdowns include key financial metrics such as asset and liabilities, payables and receivables, long debts and short debts, cash and inventories, expenses and profits. This in-depth information is essential for making informed investment decisions and understanding the financial health and performance of Marriott Vacations Worldwide. Explore the full financial landscape of Marriott Vacations Worldwide stock with our expertly curated balance sheets.

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