XML 43 R2.htm IDEA: XBRL DOCUMENT v3.3.0.814
Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues        
Gross commission income $ 1,251 $ 1,162 $ 3,310 $ 3,070
Service revenue 265 231 664 607
Franchise fees 103 96 269 251
Other 49 42 138 122
Net revenues [1],[2] 1,668 1,531 4,381 4,050
Expenses        
Commission and other agent-related costs 855 795 2,262 2,099
Operating 381 340 1,089 1,016
Marketing 56 52 171 155
General and administrative 85 79 255 214
Former parent legacy benefit, net (14) (2) (15) (1)
Restructuring Charges 0 (1) 0 (1)
Depreciation and amortization 55 48 153 140
Interest expense, net 70 54 188 197
Loss on the early extinguishment of debt 0 0 0 27
Other (income)/expense, net (2) (1) (3) (2)
Total expenses 1,486 1,364 4,100 3,844
Income before income taxes, equity in earnings and noncontrolling interests 182 167 281 206
Income tax expense 74 71 116 88
Equity in earnings of unconsolidated entities (4) (6) (13) (7)
Net income 112 102 178 125
Less: Net income attributable to noncontrolling interests (2) (2) (3) (3)
Net income attributable to Realogy Holdings and Realogy Group $ 110 $ 100 $ 175 $ 122
Earnings per share attributable to Realogy Holdings:        
Earnings Per Share, Basic $ 0.75 $ 0.68 $ 1.19 $ 0.84
Earnings Per Share, Diluted $ 0.74 $ 0.68 $ 1.18 $ 0.83
Weighted average common and common equivalent shares of Realogy Holdings outstanding:        
Basic weighted average shares 146.6 146.0 146.5 145.9
Weighted Average Number of Shares Outstanding, Diluted 148.1 147.0 148.0 147.0
[1] Revenues for the Relocation Services segment include intercompany referral commissions paid by the Company Owned Real Estate Brokerage Services segment of $16 million and $39 million for the three and nine months ended September 30, 2015, respectively, and $13 million and $32 million for the three and nine months ended September 30, 2014, respectively. Such amounts are recorded as contra-revenues by the Company Owned Real Estate Brokerage Services segment. There are no other material intersegment transactions.
[2] Transactions between segments are eliminated in consolidation. Revenues for the Real Estate Franchise Services segment include intercompany royalties and marketing fees paid by the Company Owned Real Estate Brokerage Services segment of $84 million and $228 million for the three and nine months ended September 30, 2015, respectively, and $79 million and $214 million for the three and nine months ended September 30, 2014, respectively. Such amounts are eliminated through the Corporate and Other line.