XML 49 R2.htm IDEA: XBRL DOCUMENT v3.19.3
Condensed Consolidated and Combined Statements of Operations and Comprehensive Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Condensed Consolidated and Combined Statements of Operations and Comprehensive Income [Abstract]        
Revenue $ 407 $ 377 $ 1,065 $ 979
Cost of services rendered 201 202 526 532
Gross Profit 206 176 539 448
Selling and administrative expenses 104 90 297 259
Depreciation and amortization expense 6 5 18 14
Restructuring charges 0 0 0 3
Spin-off charges 0 8 1 23
Affiliate royalty expense 0 1 0 1
Interest expense 16 7 47 7
Interest income from affiliate 0 0 0 (2)
Interest and net investment income (2) 0 (5) (1)
Income before Income Taxes 82 65 180 143
Provision for income taxes 21 16 46 36
Net Income 61 49 134 108
Other Comprehensive Income (Loss), Net of Income Taxes:        
Net unrealized gain on securities 0 0 0 0
Net unrealized loss on derivative instruments (3) 0 (16) 0
Other Comprehensive Loss, Net of Income Taxes: (3) 0 (15) 0
Total Comprehensive Income $ 57 $ 49 $ 119 $ 108
Earnings per Share:        
Basic $ 0.72 $ 0.58 $ 1.59 $ 1.28
Diluted $ 0.72 $ 0.58 $ 1.58 $ 1.28
Weighted-average Common Shares Outstanding:        
Basic [1] 84.7 84.5 84.6 84.5
Diluted 84.9 84.5 84.8 84.5
[1] For the three and nine months ended September 30, 2018, earnings per share was calculated based on the 84,515,619 shares of Frontdoor stock that were outstanding at the date of the Spin-off.