XML 46 R36.htm IDEA: XBRL DOCUMENT v3.22.2.2

Segment Information and Revenue (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Revenue Categories

This information is included in the following tables for the periods presented (in millions):

			Three Months Ended September 30, 2022																		Three Months Ended September 30, 2021
			IMT						Mortgages						Homes						IMT						Mortgages						Homes
Revenue:
Premier Agent			$	312					$	—					$	—					$	359					$	—					$	—
Rentals			74						—						—						67						—						—
Other			71						—						—						54						—						—
Mortgages			—						26						—						—						70						—
Total revenue			457						26						—						480						70						—
Cost of revenue (1)			67						17						5						51						22						9
Gross profit			390						9						(5)						429						48						(9)
Operating expenses (1):
Sales and marketing			145						20						—						159						29						17
Technology and development			126						16						—						75						7						19
General and administrative			110						25						3						62						18						24
Acquisition-related costs			—						—						—						3						—						—
Total operating expenses			381						61						3						299						54						60
Income (loss) from continuing operations			9						(52)						(8)						130						(6)						(69)
Segment other income (expense)			(4)						1						—						—						1						—
Segment interest expense			—						—						—						—						(1)						—
Income (loss) from continuing operations before income taxes (2)			$	5					$	(51)					$	(8)					$	130					$	(6)					$	(69)

			Nine Months Ended September 30, 2022																		Nine Months Ended September 30, 2021
			IMT						Mortgages						Homes						IMT						Mortgages						Homes
Revenue:
Premier Agent			$	1,008					$	—					$	—					$	1,042					$	—					$	—
Rentals			206						—						—						204						—						—
Other			208						—						—						156						—						—
Mortgages			—						101						—						—						195						—
Total revenue			1,422						101						—						1,402						195						—
Cost of revenue (1)			203						54						21						141						62						25
Gross profit			1,219						47						(21)						1,261						133						(25)
Operating expenses (1):
Sales and marketing			430						61						11						413						81						38
Technology and development			323						37						9						244						24						51
General and administrative			274						63						33						189						53						61
Restructuring costs			6						2						6						—						—						—
Acquisition-related costs			—						—						—						8						—						—
Total operating expenses			1,033						163						59						854						158						150
Income (loss) from continuing operations			186						(116)						(80)						407						(25)						(175)
Segment other income (expense)			(4)						2						—						—						3						—
Segment interest expense			—						(2)						—						—						(4)						—
Income (loss) from continuing operations before income taxes (2)			$	182					$	(116)					$	(80)					$	407					$	(26)					$	(175)

(1) The following tables present depreciation and amortization expense and share-based compensation expense for each of our segments for the periods presented (in millions):

			Three Months Ended September 30, 2022																		Three Months Ended September 30, 2021
			IMT						Mortgages						Homes						IMT						Mortgages						Homes
Depreciation and amortization expense			$	32					$	2					$	—					$	23					$	2					$	3
Share-based compensation expense			$	123					$	23					$	1					$	50					$	9					$	11

			Nine Months Ended September 30, 2022																		Nine Months Ended September 30, 2021
			IMT						Mortgages						Homes						IMT						Mortgages						Homes
Depreciation and amortization expense			$	104					$	8					$	2					$	68					$	5					$	8
Share-based compensation expense			$	263					$	46					$	14					$	150					$	25					$	29

(2) The following table presents the reconciliation of total segment income (loss) from continuing operations before income taxes to consolidated income (loss) from continuing operations before income taxes for the periods presented (in millions):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2022						2021						2022						2021
Total segment income (loss) from continuing operations before income taxes			$	(54)					$	55					$	(14)					$	206
Corporate interest expense			(9)						(28)						(24)						(95)
Corporate other income			15						1						21						2
Loss on extinguishment of debt			—						(15)						—						(17)
Consolidated income (loss) from continuing operations before income taxes			$	(48)					$	13					$	(17)					$	96

Reconciliation of Segment Gross Profit and Loss

The following table presents the reconciliation of total segment income (loss) from continuing operations before income taxes to consolidated income (loss) from continuing operations before income taxes for the periods presented (in millions):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2022						2021						2022						2021
Total segment income (loss) from continuing operations before income taxes			$	(54)					$	55					$	(14)					$	206
Corporate interest expense			(9)						(28)						(24)						(95)
Corporate other income			15						1						21						2
Loss on extinguishment of debt			—						(15)						—						(17)
Consolidated income (loss) from continuing operations before income taxes			$	(48)					$	13					$	(17)					$	96

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

+ Details

Name:	us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration