XML 90 R65.htm IDEA: XBRL DOCUMENT v3.19.3
Segment Information - Revenues (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Segment Reporting, Revenue Reconciling Item [Line Items]        
Net revenues [1],[2] $ (1,629) $ (1,676) $ (4,478) $ (4,725)
Operating EBITDA    
 Operating EBITDA
 Three Months Ended September 30, Nine Months Ended
September 30,
 2019201820192018
Real Estate Franchise Services$153  $161  $406  $439  
Company Owned Real Estate Brokerage Services31  43  16  59  
Relocation Services34  39  63  72  
Title and Settlement Services31  20  54  45  
Corporate and Other (a)(26) (21) (75) (63) 
Less: Depreciation and amortization (b)50  49  149  148  
Interest expense, net
66  41  210  120  
Income tax (benefit) expense
(8) 40  (9) 73  
Restructuring costs, net (c)
11   32  45  
Impairments (d)
183  —  186  —  
Former parent legacy cost (e) —   —  
(Gain) loss on the early extinguishment of debt (e)
(10) —  (5)  
Net (loss) income attributable to Realogy Holdings and Realogy Group
$(70) $103  $(100) $159  
_______________
(a)Includes the elimination of transactions between segments.
(b)Depreciation and amortization for the nine months ended September 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 September 30, 2019 includes restructuring charges of $1 million in the Real Estate Franchise Services segment, $8 million in the Company Owned Real Estate Brokerage Services segment, $1 million in the Relocation Services segment and $1 million in Corporate and Other.
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 nine months ended September 30, 2019 includes restructuring charges of $1 million in Real Estate Franchise Services segment, $18 million in the Company Owned Real Estate Brokerage Services segment, $5 million in the Relocation Services segment, $2 million in the Title and Settlement Services segment and $6 million in Corporate and Other.
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 in the Title and Settlement Services segment and $2 million in Corporate and Other.
(d)Impairments for the three and nine months ended September 30, 2019 includes a goodwill impairment charge of $180 million at the Company Owned Real Estate Brokerage Services segment. In addition, other impairment charges, primarily related to lease asset impairments, of $3 million and $6 million were incurred for the three and nine months ended September 30, 2019, respectively.
(e)Former parent legacy items and (gain) loss on the early extinguishment of debt is recorded in the Corporate and Other segment.
 
Real Estate Franchise Services        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Net revenues [1],[2] (216) (221) $ (613) (634)
Real Estate Franchise Services | Royalties and Marketing Fees        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Net revenues (82) (83) (224) (238)
Company Owned Brokerage Services        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Net revenues [1],[2] (1,222) (1,268) (3,369) (3,593)
Relocation Services        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Net revenues [1],[2] (103) (108) (276) (292)
Relocation Services | Referral and Relocation Fees        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Net revenues (11) (10) (29) (30)
Title and Settlement Services        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Net revenues [1],[2] (170) (162) (444) (444)
Corporate and Other        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Net revenues [1],[2],[3] $ (82) $ (83) $ (224) $ (238)
[1] Revenues for the Relocation Services segment include intercompany referral commissions paid by the Company Owned Real Estate Brokerage Services segment of $11 million and $29 million for the three and nine months ended September 30, 2019, respectively, and $10 million and $30 million for the three and nine months ended September 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.
[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 $82 million and $224 million for the three and nine months ended September 30, 2019, respectively, and $83 million and $238 million for the three and nine months ended September 30, 2018, respectively. Such amounts are eliminated through the Corporate and Other line.
[3] Includes the elimination of transactions between segments.