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Segment Information (Tables)
9 Months Ended
Sep. 30, 2018
Segment Reporting [Abstract]  
Revenues
 
Revenues (a) (b)
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
Real Estate Franchise Services
$
221

 
$
224

 
$
634

 
$
631

Company Owned Real Estate Brokerage Services
1,268

 
1,267

 
3,593

 
3,556

Relocation Services
108

 
111

 
292

 
290

Title and Settlement Services
162

 
154

 
444

 
431

Corporate and Other (c)
(83
)
 
(82
)
 
(238
)
 
(238
)
Total Company
$
1,676

 
$
1,674

 
$
4,725

 
$
4,670

_______________
 
 
(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 $83 million and $238 million for the three and nine months ended September 30, 2018, respectively, and $82 million and $238 million for the three and nine months ended September 30, 2017, 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 $10 million and $30 million for the three and nine months ended September 30, 2018, respectively, and $11 million and $31 million for the three and nine months ended September 30, 2017, 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.
Operating EBITDA
 
Operating EBITDA
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017 (a)
Real Estate Franchise Services
$
161

 
$
159

 
$
439

 
$
428

Company Owned Real Estate Brokerage Services (b)
43

 
64

 
59

 
121

Relocation Services
39

 
37

 
72

 
65

Title and Settlement Services
20

 
21

 
45

 
49

Corporate and Other (c)
(21
)
 
(23
)
 
(63
)
 
(75
)
Total Company
$
242

 
$
258

 
$
552

 
$
588

Less: Depreciation and amortization (d)
$
49

 
$
51

 
$
148

 
$
150

Interest expense, net
41

 
41

 
120

 
127

Income tax expense
40

 
67

 
73

 
131

Restructuring costs, net (e)
9

 
2

 
45

 
9

Former parent legacy cost (benefit) (f)

 
1

 

 
(10
)
Loss on the early extinguishment of debt (f)

 
1

 
7

 
5

Net income attributable to Realogy Holdings and Realogy Group
$
103

 
$
95

 
$
159

 
$
176


_______________
(a)
Includes an $8 million expense related to the settlement of the Strader legal matter in Corporate and Other.
(b)
NRT Operating EBITDA includes $12 million and $8 million of equity earnings from PHH Home Loans for the three and nine months ended September 30, 2017.
(c)
Includes the elimination of transactions between segments.
(d)
Depreciation and amortization for the nine months ended September 30, 2018 includes $2 million of amortization expense and for both the three and nine months ended September 30, 2017 includes $1 million of amortization expense related to Guaranteed Rate Affinity's purchase accounting included in the "Equity in (earnings) losses of unconsolidated entities" line on the Condensed Consolidated Statement of Operations.
(e)
The three months ended September 30, 2018 includes restructuring charges of $1 million in the Real Estate Franchise Services and $8 million in the Company Owned Real Estate Brokerage Services segment.
The three months ended September 30, 2017 includes restructuring charges of $2 million in the Company Owned Real Estate Brokerage Services segment.
The nine months ended September 30, 2018 includes restructuring charges of $3 million in the Real Estate Franchise Services segment, $29 million in the Company Owned Real Estate Brokerage Services segment, $9 million in the Relocation Services segment, $2 million at Title and Settlement Services segment and $2 million in the Corporate and Other segment.
The nine months ended September 30, 2017 includes restructuring charges of $1 million in the Real Estate Franchise Services segment and $8 million in the Company Owned Real Estate Brokerage Services segment.
(f)
Former parent legacy items and loss on the early extinguishment of debt are recorded in the Corporate and Other segment.