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This excerpt taken from the WYN 8-K filed Jul 19, 2006. INVENTORY Inventory primarily consists of real estate and development costs of completed VOIs, VOIs under construction, land held for future VOI development, vacation ownership properties and vacation credits. Inventory is stated at the lower of cost, including capitalized interest, property taxes and certain other carrying costs incurred during the construction process, or net realizable value. Capitalized interest was $7 million, $5 million and $7 million in 2005, 2004 and 2003, respectively. |
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