XML 38 R2.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements Of Operations - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues      
Gross commission income $ 4,576 $ 4,277 $ 4,288
Service revenue 938 955 882
Franchise fees 396 372 353
Other 204 206 183
Net revenues [1],[2] 6,114 5,810 5,706
Expenses      
Commission and other agent-related costs 3,230 2,945 2,931
Operating 1,544 1,542 1,458
Marketing 261 241 226
General and administrative 364 321 337
Former parent legacy benefit, net (10) (2) (15)
Restructuring costs, net 12 39 10
Depreciation and amortization 198 202 [3] 201 [3]
Interest expense, net 158 174 231
Loss on the early extinguishment of debt 5 0 48
Other expense (income), net 1 (1) (3)
Total expenses 5,763 5,461 5,424
Income before income taxes, equity in earnings and noncontrolling interests 351 349 282
Income tax (benefit) expense (65) 144 110
Equity in earnings of unconsolidated entities (18) (12) (16)
Net income 434 217 188
Less: Net income attributable to noncontrolling interests (3) (4) (4)
Net income attributable to Realogy Holdings and Realogy Group $ 431 $ 213 $ 184
Earnings per share attributable to Realogy Holdings:      
Basic earnings per share $ 3.15 $ 1.47 $ 1.26
Diluted earnings per share $ 3.11 $ 1.46 $ 1.24
Weighted average common and common equivalent shares of Realogy Holdings outstanding:      
Basic 136.7 144.5 146.5
Diluted 138.4 145.8 148.1
Common Stock, Dividends, Per Share, Cash Paid $ 0.36 $ 0.18 $ 0.00
[1] 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.
[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 $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.
[3] 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.