XML 87 R27.htm IDEA: XBRL DOCUMENT v3.19.3
Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill by segment and changes in the carrying amount
Goodwill by segment and changes in the carrying amount are as follows:
Real Estate
Franchise
Services		Company
Owned
Brokerage
Services		Relocation
Services		Title and
Settlement
Services		Total
Company
Balance at December 31, 2018$2,292  $906  $360  $154  $3,712  
Goodwill acquired—  —  —  —  —  
Impairment loss—  (180) —  —  (180) 
Balance at September 30, 2019$2,292  $726  $360  $154  $3,532  
Accumulated impairment losses (a)$1,023  $338  $281  $324  $1,966  
_______________
(a)Includes impairment charges which reduced goodwill by $180 million, $1,279 million and $507 million during the third quarter of 2019, fourth quarter of 2008 and fourth quarter of 2007, respectively.
Intangible Assets
Intangible assets are as follows:
 As of September 30, 2019As of December 31, 2018
 Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
Amortizable—Franchise agreements (a)$2,019  $843  $1,176  $2,019  $792  $1,227  
Indefinite life—Trademarks (b)$749  $749  $749  $749  
Other Intangibles
Amortizable—License agreements (c)$45  $12  $33  $45  $11  $34  
Amortizable—Customer relationships (d)549  376  173  549  359  190  
Indefinite life—Title plant shares (e)19  19  18  18  
Amortizable—Other (f)30  23  7  33  21  12  
Total Other Intangibles$643  $411  $232  $645  $391  $254  
_______________
(a)Generally amortized over a period of 30 years.
(b)Primarily related to real estate franchise brands and Cartus tradenames, which are expected to generate future cash flows for an indefinite period of time.
(c)Relates to the Sotheby’s International Realty® and Better Homes and Gardens® Real Estate agreements which are being amortized over 50 years (the contractual term of the license agreements).
(d)Relates to the customer relationships at the Relocation Services segment, the Title and Settlement Services segment and our Company Owned Real Estate Brokerage Services segment. These relationships are being amortized over a period of 2 to 20 years.
(e)Ownership in a title plant is required to transact title insurance in certain states. The Company expects to generate future cash flows for an indefinite period of time.
(f)Consists of covenants not to compete which are amortized over their contract lives and other intangibles which are generally amortized over periods ranging from 5 to 10 years.
Intangible asset amortization expense
Intangible asset amortization expense is as follows:
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 2019201820192018
Franchise agreements$17  $17  $51  $51  
License agreements1  1  1  1  
Customer relationships5  5  17  17  
Other2  1  4  4  
Total$25  $24  $73  $73