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Segment Information
3 Months Ended
Mar. 31, 2017
Segment Reporting [Abstract]  
Segment Information
SEGMENT INFORMATION
The reportable segments presented below represent the Company’s operating segments for which separate financial information is available and which is utilized on a regular basis by its chief operating decision maker to assess performance and to allocate resources. In identifying its reportable segments, the Company also considers the nature of services provided by its operating segments. Management evaluates the operating results of each of its reportable segments based upon revenue and EBITDA, which is defined as net income (loss) before depreciation and amortization, interest (income) expense, net (other than Relocation Services interest for relocation receivables and securitization obligations) and income taxes, each of which is presented in the Company’s Condensed Consolidated Statements of Operations. The Company’s presentation of EBITDA may not be comparable to similar measures used by other companies.
 
Revenues (a) (b)
 
Three Months Ended March 31,
 
2017
 
2016
Real Estate Franchise Services
$
170

 
$
157

Company Owned Real Estate Brokerage Services
897

 
841

Relocation Services
77

 
83

Title and Settlement Services
120

 
111

Corporate and Other (c)
(61
)
 
(58
)
Total Company
$
1,203

 
$
1,134

_______________
 
 
(a)
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 $61 million and $58 million for the three months ended March 31, 2017 and 2016, respectively. Such amounts are eliminated through the Corporate and Other line.
(b)
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, 2017 and 2016. Such amounts are recorded as contra-revenues by the Company Owned Real Estate Brokerage Services segment. There are no other material intersegment transactions.
(c)
Includes the elimination of transactions between segments.
 
EBITDA
 
Three Months Ended March 31,
 
2017 (a)
 
2016 (b)
Real Estate Franchise Services
$
102

 
$
92

Company Owned Real Estate Brokerage Services
(26
)
 
(21
)
Relocation Services
1

 
5

Title and Settlement Services
2

 

Corporate and Other (c)
(27
)
 
(21
)
Total Company
$
52

 
$
55

Less:
 
 
 
Depreciation and amortization
$
50

 
$
48

Interest expense, net
39

 
73

Income tax benefit
(9
)
 
(24
)
Net loss attributable to Realogy Holdings and Realogy Group
$
(28
)
 
$
(42
)

_______________
(a)
Includes restructuring charges of $5 million in the Company Owned Real Estate Brokerage Services segment and $4 million related to the loss on the early extinguishment of debt for the three months ended March 31, 2017.
(b)
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 for the three months ended March 31, 2016.
(c)
Includes the elimination of transactions between segments.