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Segment Information
 6 Months Ended
Jun. 30, 2019
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 Operating EBITDA. Operating EBITDA is defined by us as net income (loss) before depreciation and amortization, interest expense, net (other than relocation services interest for securitization assets and securitization obligations), income taxes, and other items that are not core to the operating activities of the Company such as restructuring charges, former parent legacy items, losses on the early extinguishment of debt, asset impairments, gains or losses on discontinued operations and gains or losses on the sale of investments or other assets. The Company’s presentation of Operating EBITDA may not be comparable to similar measures used by other companies.
 
Revenues (a) (b)
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
Real Estate Franchise Services
$
234

 
$
237

 
$
397

 
$
413

Company Owned Real Estate Brokerage Services
1,331

 
1,408

 
2,147

 
2,325

Relocation Services
97

 
105

 
173

 
184

Title and Settlement Services
160

 
162

 
274

 
282

Corporate and Other (c)
(87
)
 
(92
)
 
(142
)
 
(155
)
Total Company
$
1,735

 
$
1,820

 
$
2,849

 
$
3,049

_______________
 
 
(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 $87 million and $142 million for the three and six months ended June 30, 2019, respectively, and $92 million and $155 million for the three and six months ended June 30, 2018, 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 $11 million and $18 million for the three and six months ended June 30, 2019, respectively, and $12 million and $20 million for the three and six months ended June 30, 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.
(c)
Includes the elimination of transactions between segments.
 
Operating EBITDA
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
Real Estate Franchise Services
$
163

 
$
173

 
$
253

 
$
278

Company Owned Real Estate Brokerage Services
47

 
61

 
(15
)
 
16

Relocation Services
27

 
34

 
29

 
33

Title and Settlement Services
32

 
31

 
23

 
25

Corporate and Other (a)
(24
)
 
(23
)
 
(49
)
 
(42
)
 
 
 
 
 
 
 
 
Less: Depreciation and amortization (b)
50

 
49

 
99

 
99

Interest expense, net
81

 
46

 
144

 
79

Income tax expense (benefit)
34

 
52

 
(1
)
 
33

Restructuring costs, net (c)
9

 
6

 
21

 
36

Impairment
2

 
—

 
3

 
—

Loss on the early extinguishment of debt (d)
—

 
—

 
5

 
7

Net income (loss) attributable to Realogy Holdings and Realogy Group
$
69

 
$
123

 
$
(30
)
 
$
56


_______________
(a)
Includes the elimination of transactions between segments.
(b)
Depreciation and amortization for the six months ended June 30, 2018 includes $2 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.
(c)
The three months ended June 30, 2019 includes restructuring charges of $6 million in the Company Owned Real Estate Brokerage Services segment, $1 million in the Relocation Services segment, $1 million in the Title and Settlement Services segment and $1 million in Corporate and Other.
The three months ended June 30, 2018 includes restructuring charges of $4 million in the Company Owned Real Estate Brokerage Services segment, $1 million in the Relocation Services segment and $1 million in the Title and Settlement Services segment.
The six months ended June 30, 2019 includes restructuring charges of $10 million in the Company Owned Real Estate Brokerage Services segment, $4 million in the Relocation Services segment, $2 million in the Title and Settlement Services segment and $5 million in Corporate and Other.
The six months ended June 30, 2018 includes restructuring charges of $2 million in the Real Estate Franchise Services segment, $21 million in the Company Owned Real Estate Brokerage Services segment, $9 million in the Relocation Services segment, $2 million in the Title and Settlement Services segment and $2 million in Corporate and Other.
(d)
Loss on the early extinguishment of debt is recorded in the Corporate and Other segment.