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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating Activities    
Net income $ 82 $ 52
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 99 [1] 96 [2]
Deferred income taxes 57 33
Amortization of deferred financing costs and discount 8 8
Loss on the early extinguishment of debt 4 0
Equity in (earnings) losses of unconsolidated entities 3 (5)
Stock-based compensation 25 25
Mark-to-market adjustments on derivatives 5 45
Other adjustments to net income (1) (3)
Net change in assets and liabilities, excluding the impact of acquisitions and dispositions:    
Trade receivables (26) (33)
Relocation receivables (47) (79)
Other assets (29) (14)
Accounts payable, accrued expenses and other liabilities 22 (18)
Due to former parent (11) 1
Dividends received from unconsolidated entities 2 1
Other, net (7) (6)
Net cash provided by operating activities 186 103
Investing Activities    
Property and equipment additions (48) (40)
Payments for acquisitions, net of cash acquired (4) (15)
Investment in unconsolidated entities (3) 0
Change in restricted cash 0 1
Other, net (1) (4)
Net cash used in investing activities (56) (58)
Financing Activities    
Net change in revolving credit facility (10) (200)
Amortization payments on term loan facilities (21) (20)
Proceeds from issuance of Senior Notes 0 750
Repayments of Unsecured Debt 0 (500)
Net change in securitization obligations 18 34
Debt issuance costs (6) (7)
Repurchase of common stock (121) (67)
Dividends paid on common stock (25) 0
Proceeds from exercise of stock options 3 1
Taxes paid related to net share settlement for stock-based compensation (10) (5)
Payments of contingent consideration related to acquisitions (4) (10)
Other, net (10) (12)
Net cash used in financing activities (186) (36)
Effect of changes in exchange rates on cash and cash equivalents 1 (1)
Net (decrease) increase in cash and cash equivalents (55) 8
Cash and cash equivalents, beginning of period 274 415
Cash and cash equivalents, end of period 219 423
Supplemental Disclosure of Cash Flow Information    
Interest payments (including securitization interest of $3 for both periods presented) 86 86
Income tax payments, net 8 7
Securitization Interest $ 3 $ 3
[1] Includes a net benefit of $11 million of former parent legacy items, an $8 million expense related to the settlement of the Strader legal matter and $4 million related to the loss on the early extinguishment of debt in Corporate and Other, and $7 million of restructuring charges as follows: $6 million in the Company Owned Real Estate Brokerage Services segment and $1 million in the Real Estate Franchise Services segment for the six months ended June 30, 2017.
[2] Includes $21 million of restructuring charges as follows: $3 million in the Real Estate Franchise Services segment, $9 million in the Company Owned Real Estate Brokerage Services segment, $3 million in the Relocation Services segment and $6 million in Corporate and Other, and a net cost of $1 million of former parent legacy items in Corporate and Other for the six months ended June 30, 2016.