XML 60 R24.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Segment Information (Notes) | 12 Months Ended
--- | ---
Dec. 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 Consolidated Statements of Operations. The Company’s presentation of EBITDA may not be comparable to similar measures used by other companies.
| Revenues (a) (b)
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
Real Estate Franchise Services | $ | 830 |  |  | $ | 781 |  |  | $ | 755 |
Company Owned Real Estate Brokerage Services | 4,643 |  |  | 4,344 |  |  | 4,344 |
Relocation Services | 382 |  |  | 405 |  |  | 415 |
Title and Settlement Services | 570 |  |  | 573 |  |  | 487 |
Corporate and Other (c) | (311 | ) |  | (293 | ) |  | (295 | )
Total Company | $ | 6,114 |  |  | $ | 5,810 |  |  | $ | 5,706 |
_______________
(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 $311 million, $293 million and $295 million for the years ended December 31, 2017, 2016 and 2015, 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 $40 million, $43 million and $49 million for the years ended December 31, 2017, 2016 and 2015, respectively. 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
| Year Ended December 31,
| 2017 (a) |  | 2016 (b) |  | 2015 (c)
Real Estate Franchise Services | $ | 559 |  |  | $ | 516 |  |  | $ | 495 |
Company Owned Real Estate Brokerage Services | 126 |  |  | 137 |  |  | 199 |
Relocation Services | 85 |  |  | 96 |  |  | 105 |
Title and Settlement Services | 58 |  |  | 62 |  |  | 48 |
Corporate and Other (d) | (103 | ) |  | (78 | ) |  | (121 | )
Total Company | $ | 725 |  |  | $ | 733 |  |  | $ | 726 |
______________
(a) | For the year ended December 31, 2017, the Real Estate Franchise Services segment includes restructuring charges of $1 million; the Company Owned Real Estate Brokerage Services segment includes restructuring charges of $9 million; the Title and Settlement Services segment includes restructuring charges of $1 million; and Corporate and Other includes an $8 million expense related to the settlement of the Strader legal matter, an $8 million expense related to the transition of the Company's CEO, $5 million related to the losses on the early extinguishment of debt and restructuring charges of $1 million, partially offset by a net benefit of $10 million of former parent legacy items.
(b) | For the year ended December 31, 2016, the Real Estate Franchise Services segment includes restructuring charges of $4 million; the Company Owned Real Estate Brokerage Services segment includes restructuring charges of $22 million; the Relocation Services segment includes restructuring charges of $4 million; the Title and Settlement Services segment includes restructuring charges of $1 million; and Corporate and Other includes restructuring charges of $8 million, partially offset by a net benefit of $2 million of former parent legacy items.
(c) | For the year ended December 31, 2015, the Company Owned Real Estate Brokerage Services segment includes restructuring charges of $5 million; the Relocation Services segment includes restructuring charges of $1 million; and Corporate and Other includes $48 million related to the loss on the early extinguishment of debt and restructuring charges of $4 million, partially offset by a net benefit of $15 million of former parent legacy items.
(d) | Includes the elimination of transactions between segments.
Provided below is a reconciliation of EBITDA to Net income attributable to Realogy Holdings and Realogy Group:
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
Net income attributable to Realogy Holdings and Realogy Group | $ | 431 |  |  | $ | 213 |  |  | $ | 184 |
Add: Depreciation and amortization (a) | 201 |  |  | 202 |  |  | 201 |
Interest expense, net | 158 |  |  | 174 |  |  | 231 |
Income tax (benefit) expense | (65 | ) |  | 144 |  |  | 110 |
EBITDA | $ | 725 |  |  | $ | 733 |  |  | $ | 726 |
_______________
(a) | Depreciation and amortization for the year ended December 31, 2017 includes $3 million of amortization expense related to Guaranteed Rate Affinity's purchase accounting included in the "Equity in earnings of unconsolidated entities" line on the Consolidated Statement of Operations.
Depreciation and Amortization
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
Real Estate Franchise Services | $ | 79 |  |  | $ | 77 |  |  | $ | 77 |
Company Owned Real Estate Brokerage Services | 50 |  |  | 49 |  |  | 46 |
Relocation Services | 33 |  |  | 31 |  |  | 33 |
Title and Settlement Services | 16 |  |  | 23 |  |  | 25 |
Corporate and Other | 20 |  |  | 22 |  |  | 20 |
Total Company | $ | 198 |  |  | $ | 202 |  |  | $ | 201 |
Segment Assets
| As of December 31,
| 2017 |  | 2016
Real Estate Franchise Services | $ | 4,413 |  |  | $ | 4,477 |
Company Owned Real Estate Brokerage Services | 1,258 |  |  | 1,249 |
Relocation Services | 1,029 |  |  | 1,081 |
Title and Settlement Services | 486 |  |  | 416 |
Corporate and Other | 151 |  |  | 198 |
Total Company | $ | 7,337 |  |  | $ | 7,421 |
Capital Expenditures
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
Real Estate Franchise Services | $ | 9 |  |  | $ | 8 |  |  | $ | 8 |
Company Owned Real Estate Brokerage Services | 44 |  |  | 44 |  |  | 41 |
Relocation Services | 11 |  |  | 12 |  |  | 14 |
Title and Settlement Services | 13 |  |  | 9 |  |  | 8 |
Corporate and Other | 22 |  |  | 14 |  |  | 13 |
Total Company | $ | 99 |  |  | $ | 87 |  |  | $ | 84 |
The geographic segment information provided below is classified based on the geographic location of the Company’s subsidiaries.
| United States |  | All Other Countries |  | Total
On or for the year ended December 31, 2017 |  |  |  |  |
Net revenues | $ | 5,997 |  |  | $ | 117 |  |  | $ | 6,114 |
Total assets | 7,261 |  |  | 76 |  |  | 7,337 |
Net property and equipment | 287 |  |  | 2 |  |  | 289 |
On or for the year ended December 31, 2016 |  |  |  |  |
Net revenues | $ | 5,683 |  |  | $ | 127 |  |  | $ | 5,810 |
Total assets | 7,347 |  |  | 74 |  |  | 7,421 |
Net property and equipment | 265 |  |  | 2 |  |  | 267 |
On or for the year ended December 31, 2015 |  |  |  |  |
Net revenues | $ | 5,579 |  |  | $ | 127 |  |  | $ | 5,706 |
Total assets | 7,450 |  |  | 81 |  |  | 7,531 |
Net property and equipment | 252 |  |  | 2 |  |  | 254 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration