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Restructuring Costs Restructuring Costs (Tables)

6 Months Ended

Jun. 30, 2019

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The components of the restructuring charges for the three and six months ended June 30, 2019 and 2018 were as follows:

	Three Months Ended June 30,								Six Months Ended June 30,
	2019				2018				2019				2018
Personnel-related costs (1)	$	5			$	3			$	16			$	17
Facility-related costs (2)	4				3				5				12
Internal use software impairment (3)	—				—				—				7
Total restructuring charges (4)	$	9			$	6			$	21			$	36

_______________

(1) Personnel-related costs consist of severance costs provided to employees who have been terminated and duplicate payroll costs during transition.

(2) Facility-related costs consist of costs associated with planned facility closures such as contract termination costs, amortization of lease assets that will continue to be incurred under the contract for its remaining term without economic benefit to the Company, accelerated depreciation on asset disposals and other facility and employee relocation related costs.

(3) Internal use software impairment relates to development costs capitalized for a project that was determined to not meet the Company's strategic goals when analyzed by the Company's new leadership team.

(4) The three and six months ended June 30, 2019 include $9 million and $18 million, respectively, of expense related to the Facility and Operational Efficiencies Program and Leadership Realignment and zero and $3 million, respectively, of expense related to Other Restructuring Activities Program. Restructuring charges for three and six months ended June 30, 2018 relate to prior restructuring programs.

F

Schedule of Restructuring Reserve by Type of Cost

The following is a reconciliation of the beginning and ending reserve balances related to the Facility and Operational Efficiencies Program:

	Personnel-related costs				Facility-related costs (1)				Total
Balance at December 31, 2018	$	—			$	—			$	—
Restructuring charges	13				5				18
Costs paid or otherwise settled	(8		)		(4		)		(12		)
Balance at June 30, 2019	$	5			$	1			$	6

_______________

(1)

In addition, the Company incurred an additional $2 million related to lease asset impairments in connection with the Facility and Operational Efficiencies Program during the six months ended June 30, 2019.

Schedule of Expected Restructuring Costs by Cost Type

The following table shows the total costs currently expected to be incurred by type of cost related to the Facility and Operational Efficiencies Program:

	Total amount expected to be incurred				Amount incurred to date				Total amount remaining to be incurred
Personnel-related costs	$	13			$	13			$	—
Facility-related costs (1)	41				5				36
Total	$	54			$	18			$	36

_______________

(1)

Facility-related costs includes lease asset impairments expected to be incurred under the Facility and Operational Efficiencies Program.

Schedule of Expected Restructuring Costs by Business Segment

The following table shows the total costs currently expected to be incurred by reportable segment related to the Facility and Operational Efficiencies Program:

	Total amount expected to be incurred				Amount incurred to date				Total amount remaining to be incurred
Real Estate Franchise Services	$	—			$	—			$	—
Company Owned Real Estate Brokerage Services	44				10				34
Relocation Services	4				4				—
Title and Settlement Services	1				1				—
Corporate and Other	5				3				2
Total	$	54			$	18			$	36

X

- Definition

Tabular disclosure of expected restructuring and related costs by business segment including expected costs to be incurred, the cumulative costs incurred as of the balance sheet date, and remaining costs to be incurred.

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- Definition

Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
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Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
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