This excerpt taken from the WYN 10-K filed Mar 7, 2007.
Preferred Stock Sale
On January 31, 2007, Affinion Group Holdings, Inc. (Affinion) redeemed a portion of the preferred stock investment owned by Avis Budget Group, of which the Company owned a 37.5% interest pursuant to the Separation agreement. The redemption resulted in approximately $40 million in proceeds for the Company and a gain on sale of approximately $12 million. As of December 31, 2006, the Company had a $37 million receivable in non-current due from former Parent and subsidiaries on the Consolidated Balance Sheet, which represented the Companys right to receive proceeds from the ultimate sale of Cendants preferred stock investment in and warrants of Affinion. Subsequent to Affinions redemption, such receivable was reduced to $10 million.