XML 37 R20.htm IDEA: XBRL DOCUMENT v3.7.0.1
Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill by segment and changes in the carrying amount
Goodwill by segment and changes in the carrying amount are as follows:
 
Real Estate
Franchise
Services
 
Company
Owned
Brokerage
Services
 
Relocation
Services
 
Title and
Settlement
Services
 
Total
Company
Gross goodwill as of December 31, 2016
$
3,315

 
$
1,051

 
$
641

 
$
469

 
$
5,476

Accumulated impairment losses
(1,023
)
 
(158
)
 
(281
)
 
(324
)
 
(1,786
)
Balance at December 31, 2016
2,292

 
893

 
360

 
145

 
3,690

Goodwill acquired

 
4

 

 

 
4

Balance at June 30, 2017
$
2,292

 
$
897

 
$
360

 
$
145

 
$
3,694

Intangible assets
Intangible assets are as follows:
 
As of June 30, 2017
 
As of December 31, 2016
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
Amortizable—Franchise agreements (a)
$
2,019

 
$
692

 
$
1,327

 
$
2,019

 
$
658

 
$
1,361

Indefinite life—Trademarks (b)
$
748

 
 
 
$
748

 
$
748

 
 
 
$
748

Other Intangibles
 
 
 
 
 
 
 
 
 
 
 
Amortizable—License agreements (c)
$
45

 
$
9

 
$
36

 
$
45

 
$
9

 
$
36

Amortizable—Customer relationships (d)
550

 
325

 
225

 
550

 
312

 
238

Indefinite life—Title plant shares (e)
18

 
 
 
18

 
18

 
 
 
18

Amortizable—Pendings and listings (f)
5

 
5

 

 
6

 
5

 
1

Amortizable—Other (g)
34

 
16

 
18

 
33

 
13

 
20

Total Other Intangibles
$
652

 
$
355

 
$
297

 
$
652

 
$
339

 
$
313


_______________
(a)    Generally amortized over a period of 30 years.
(b)
Primarily relates to the Century 21®, Coldwell Banker®, ERA®, Corcoran®, Coldwell Banker Commercial® and Cartus tradenames, which are expected to generate future cash flows for an indefinite period of time.
(c)
Relates to the Sotheby’s International Realty® and Better Homes and Gardens® Real Estate agreements which are being amortized over 50 years (the contractual term of the license agreements).
(d)
Relates to the customer relationships at the Relocation Services segment, the Title and Settlement Services segment, the Real Estate Franchise Services segment and our Company Owned Real Estate Brokerage Services segment. These relationships are being amortized over a period of 2 to 20 years.
(e)
Ownership in a title plant is required to transact title insurance in certain states. The Company expects to generate future cash flows for an indefinite period of time.
(f)
Generally amortized over a period of 5 months.
(g)
Consists of covenants not to compete which are amortized over their contract lives and other intangibles which are generally amortized over periods ranging from 5 to 10 years.
Intangible asset amortization expense
Intangible asset amortization expense is as follows:
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2017
 
2016
 
2017
 
2016
Franchise agreements
$
17

 
$
17

 
$
34

 
$
34

License agreements

 
1

 

 
1

Customer relationships
7

 
6

 
13

 
13

Pendings and listings

 
2

 
1

 
2

Other
1

 
1

 
3

 
3

Total
$
25

 
$
27

 
$
51

 
$
53