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Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenues [Abstract]    
Net revenues [1],[2] $ 1,114 $ 1,229
Expenses    
Commission and other agent-related costs 575 645
Operating 380 392
Marketing 69 67
General and administrative 95 89
Restructuring costs, net [3],[4] 12 30
Lease asset impairment 1 0
Depreciation and amortization 49 48 [5]
Interest expense, net 63 33
Loss on the early extinguishment of debt [6] 5 7
Total expenses 1,249 1,311
Loss before income taxes, equity in (earnings) losses and noncontrolling interests (135) (82)
Income tax benefit (35) (19)
Equity in (earnings) losses of unconsolidated entities (1) 4
Net loss (99) (67)
Less: Net income attributable to noncontrolling interests 0 0
Net loss attributable to Realogy Holdings and Realogy Group $ (99) $ (67)
Loss per share attributable to Realogy Holdings:    
Basic loss per share $ (0.87) $ (0.51)
Diluted loss per share $ (0.87) $ (0.51)
Weighted average common and common equivalent shares of Realogy Holdings outstanding:    
Basic 114.0 130.3
Diluted 114.0 130.3
Gross commission income    
Revenues [Abstract]    
Net revenues [7] $ 799 $ 902
Service revenue    
Revenues [Abstract]    
Net revenues [8] 188 197
Franchise fees    
Revenues [Abstract]    
Net revenues [9] 70 79
Other    
Revenues [Abstract]    
Net revenues [10] $ 57 $ 51
[1] Revenues for the Relocation Services segment include intercompany referral commissions paid by the Company Owned Real Estate Brokerage Services segment of $7 million and $8 million for the three months ended March 31, 2019 and 2018, 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 $55 million and $63 million for the three months ended March 31, 2019 and 2018, respectively. Such amounts are eliminated through the Corporate and Other line.
[3] The three months ended March 31, 2019 includes $9 million and $3 million of expense related to the Facility and Operational Efficiencies Program and Leadership Realignment and Other Restructuring Activities Program, respectively. Restructuring charges for three months ended March 31, 2018 relate to prior restructuring programs.
[4] The three months ended March 31, 2019 includes restructuring charges of $4 million in the Company Owned Real Estate Brokerage Services segment, $3 million in the Cartus segment, $1 million at Title and Settlement Services segment and $4 million in Corporate and Other.The three months ended March 31, 2018 includes restructuring charges of $2 million in the Real Estate Franchise Services segment, $17 million in the Company Owned Real Estate Brokerage Services segment, $8 million in the Cartus segment, $1 million at the Title and Settlement Services segment and $2 million in Corporate and Other.
[5] Includes the elimination of transactions between segments.
[6] oss on the early extinguishment of debt is recorded in the Corporate and Other segment.
[7] (a)Consists primarily of 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.
[8] (b)Service revenue primarily consists 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.
[9] (c)Franchise fees at the Real Estate Franchise Services segment primarily include domestic royalties which are recognized at a point in time when the underlying franchisee revenue is earned (upon close of the homesale transaction).
[10] (d)Other revenue is comprised of brand marketing funds received at the Real Estate Franchise Services segment from franchisees, third-party listing fees and other miscellaneous revenues across all of the business segments.