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Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Revenues    
Gross commission income $ 826 $ 781
Service revenue 190 171
Franchise fees 69 67
Other 49 43
Net revenues [1],[2] 1,134 1,062
Expenses    
Commission and other agent-related costs 558 530
Operating 367 342
Marketing 58 56
General and administrative 86 78
Former parent legacy costs, net 1 0
Restructuring costs 9 0
Depreciation and amortization 48 [3] 46
Interest expense, net 73 [3] 68
Total expenses 1,200 1,120
Loss before income taxes, equity in earnings and noncontrolling interests (66) (58)
Income tax benefit (24) [3] (24)
Equity in earnings of unconsolidated entities 0 (2)
Net loss (42) (32)
Less: Net income attributable to noncontrolling interests 0 0
Net loss attributable to Realogy Holdings and Realogy Group $ (42) [3] $ (32)
Loss per share attributable to Realogy Holdings:    
Basic loss per share $ (0.29) $ (0.22)
Diluted loss per share $ (0.29) $ (0.22)
Weighted average common and common equivalent shares of Realogy Holdings outstanding:    
Basic 146.5 146.3
Diluted 146.5 146.3
[1] Revenues for the Relocation Services segment include intercompany referral commissions paid by the Company Owned Real Estate Brokerage Services segment of $8 million for both the three months ended March 31, 2016 and 2015. 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 $58 million and $57 million for the three months ended March 31, 2016 and 2015, respectively. Such amounts are eliminated through the Corporate and Other line.
[3] Includes $9 million of restructuring charges as follows: $2 million in the Company Owned Real Estate Brokerage Services segment, $2 million in the Relocation Services segment and $5 million in Corporate and Other, and a net cost of $1 million of former parent legacy items included in Corporate and Other for the three months ended March 31, 2016.