XML 38 R19.htm IDEA: XBRL DOCUMENT v3.10.0.1

Revenue Recognition Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2018

Revenue Recognition [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

The cumulative effect of the changes made to the Condensed Consolidated Balance Sheets for the adoption of the new revenue standard were as follows:

	Balance Sheet accounts prior to the new revenue standard adoption adjustments				Adjustments due to the adoption of the new revenue standard				Balance Sheet accounts after the new revenue standard adoption adjustments
ASSETS
Current assets:
Trade receivables	$	153			$	1			$	154
Other current assets	179				2				181
Total current assets	789				3				792
Other non-current assets	222				23				245
Total assets	$	7,337			$	26			$	7,363
LIABILITIES AND EQUITY
Current liabilities:
Accrued expenses and other current liabilities	$	478			$	2			$	480
Total current liabilities	955				2				957
Deferred income taxes	327				(8		)		319
Other non-current liabilities	212				54				266
Total liabilities	4,715				48				4,763
Equity:
Accumulated deficit (a)	(2,622		)		(22		)		(2,644		)
Accumulated other comprehensive loss (a)	(46		)		—				(46		)
Total stockholders' equity	2,618				(22		)		2,596
Total equity	2,622				(22		)		2,600
Total liabilities and equity	$	7,337			$	26			$	7,363

_______________

(a) Beginning balances have been adjusted for the adoption of the accounting standard update on stranded tax effects related to the 2017 Tax Act which resulted in a debit to Accumulated other comprehensive loss and a credit to Accumulated deficit of $9 million. See Note 1, "Basis of Presentation" in the "Recently Adopted Accounting Pronouncements" section for additional information.

Disaggregation of Revenue [Table Text Block]

The Company's revenue is disaggregated by major revenue categories on our Condensed Consolidated Statements of Operations and further disaggregated by business segment as follows:

	Three Months Ended June 30, 2018 vs June 30, 2017 (e)
	Real Estate Franchise Services								Company Owned Brokerage Services								Relocation Services								Title and Settlement Services								Corporate and Other								Total Company
	2018				2017				2018				2017				2018				2017				2018				2017				2018				2017				2018				2017
Gross commission income (a)	$	—			$	—			$	1,388			$	1,374			$	—			$	—			$	—			$	—			$	—			$	—			$	1,388			$	1,374
Service revenue (b)	—				—				2				3				104				101				157				151				—				—				263				255
Franchise fees (c)	203				199				—				—				—				—				—				—				(89		)		(89		)		114				110
Other (d)	34				38				18				15				1				1				5				6				(3		)		(6		)		55				54
Net revenues	$	237			$	237			$	1,408			$	1,392			$	105			$	102			$	162			$	157			$	(92	)		$	(95	)		$	1,820			$	1,793

	Six Months Ended June 30, 2018 vs June 30, 2017 (e)
	Real Estate Franchise Services								Company Owned Brokerage Services								Relocation Services								Title and Settlement Services								Corporate and Other								Total Company
	2018				2017				2018				2017				2018				2017				2018				2017				2018				2017				2018				2017
Gross commission income (a)	$	—			$	—			$	2,290			$	2,255			$	—			$	—			$	—			$	—			$	—			$	—			$	2,290			$	2,255
Service revenue (b)	—				—				4				5				182				177				274				267				—				—				460				449
Franchise fees (c)	342				333				—				—				—				—				—				—				(149		)		(148		)		193				185
Other (d)	71				74				31				29				2				2				8				10				(6		)		(8		)		106				107
Net revenues	$	413			$	407			$	2,325			$	2,289			$	184			$	179			$	282			$	277			$	(155	)		$	(156	)		$	3,049			$	2,996

_______________

(a) Approximately 75% of the Company's total net revenues related to gross commission income at the Company Owned Brokerage Services segment, which is recognized at a point in time at the closing of a homesale transaction.

(b) Approximately 15% of the Company's total net revenues related to service fees primarily consisting of title and escrow fees at the Title and Settlement Services segment, which are recognized at a point in time at the closing of a homesale transaction, and relocation fees at the Relocation Services segment, which are recognized as revenue when or as the related performance obligation is satisfied, which is dependent on the type of service performed. Relocation fees at the Relocation Services segment primarily include: (i) referral fees which are recognized at a point in time of the closing of a homesale transaction, (ii) outsourcing fees, which are management fees charged to clients frequently related to a bundle of relocation services performed and are recognized over the average time period to complete a move, and (iii) referral commissions from third party suppliers which are recognized at the time of the completion of the related service.

(c) Approximately 5% of the Company's total net revenues related to franchise fees at the Real Estate Franchise Services segment, primarily domestic royalties, which are recognized at a point in time when the underlying franchisee revenue is earned (upon close of the homesale transaction).

(d) Approximately 5% of the Company's total net revenues related to other revenue, which comprised of brand marketing funds received at the Real Estate Franchise Services segment from franchisees and other miscellaneous revenues across all of the business segments.

(e) Prior period amounts have not been adjusted under the modified retrospective method.

Contract with Customer, Asset and Liability [Table Text Block]

The following table shows the change in the Company's contract liabilities related to revenue contracts by reportable segment for the period:

	Six Months Ended June 30, 2018
	Beginning Balance at January 1, 2018				Additions during the period				Recognized as Revenue during the period				Ending Balance at June 30, 2018
Real Estate Franchise Services (a)	$	79			$	59			$	(65	)		$	73
Company Owned Real Estate Brokerage Services	17				6				(8		)		15
Relocation Services	18				45				(45		)		18
Total	$	114			$	110			$	(118	)		$	106

_______________

(a) Revenues recognized include intercompany marketing fees paid by the Company Owned Real Estate Brokerage Services segment.

X

- Definition

Tabular disclosure of contract balances and changes in contract balances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=109196051&loc=SL49130551-203045

+ Details

Name:	us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=109196051&loc=SL49130545-203045

+ Details

Name:	us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_RevenueRecognitionAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=109236672&loc=d3e765-108305

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22580-107794

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=109236672&loc=d3e725-108305

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

+ Details

Name:	us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration