XML 100 R111.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Selected Quarterly Financial Data (Unaudited) (Details) - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2008
Dec. 31, 2007
Sep. 30, 2019
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Segment Reporting Information [Line Items]                            
Net revenues $ 1,330,000,000 $ 1,550,000,000 $ 1,664,000,000 $ 1,054,000,000 $ 1,285,000,000 $ 1,591,000,000 $ 1,740,000,000 $ 1,166,000,000       $ 5,598,000,000 [1],[2] $ 5,782,000,000 [1],[2] $ 5,810,000,000 [1],[2],[3]
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest [Abstract]                            
(Loss) income from continuing operations before income taxes, equity in earnings and noncontrolling interests (b) 15,000,000 [4] (150,000,000) [4] 95,000,000 [4] (118,000,000) [4] (22,000,000) [5] 130,000,000 [5] 167,000,000 [5] (58,000,000) [5]     $ (173,000,000) (158,000,000) 217,000,000 344,000,000
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent 17,000,000 (121,000,000) 68,000,000 (85,000,000) (19,000,000) 93,000,000 118,000,000 (49,000,000)       (121,000,000) 143,000,000 425,000,000
Net (loss) income from discontinued operations (62,000,000) 8,000,000 1,000,000 (14,000,000) (3,000,000) 10,000,000 5,000,000 (18,000,000)       (67,000,000) (6,000,000) 6,000,000
Net (loss) income attributable to Realogy Holdings and Realogy Group $ (45,000,000) $ (113,000,000) $ 69,000,000 $ (99,000,000) $ (22,000,000) $ 103,000,000 $ 123,000,000 $ (67,000,000)     $ (143,000,000) $ (188,000,000) $ 137,000,000 $ 431,000,000
Earnings Per Share, Basic and Diluted [Abstract]                            
Basic (loss) earnings per share from continuing operations $ 0.15 [6] $ (1.06) [6] $ 0.59 [6] $ (0.75) [6] $ (0.16) [7] $ 0.76 [7] $ 0.93 [7] $ (0.38) [7]       $ (1.06) $ 1.15 $ 3.11
Basic (loss) earnings per share from discontinued operations (0.54) [6] 0.07 [6] 0.01 [6] (0.12) [6] (0.03) [7] 0.08 [7] 0.04 [7] (0.13) [7]       (0.59) (0.05) 0.04
Basic (loss) earnings per share (0.39) [6] (0.99) [6] 0.60 [6] (0.87) [6] (0.19) [7] 0.84 [7] 0.97 [7] (0.51) [7]     $ (1.25) (1.65) 1.10 3.15
Diluted (loss) earnings per share from continuing operations 0.15 [6] (1.06) [6] 0.59 [6] (0.75) [6] (0.16) [7] 0.75 [7] 0.92 [7] (0.38) [7]       (1.06) 1.14 3.07
Diluted (loss) earnings per share from discontinued operations (0.54) [6] 0.07 [6] 0.01 [6] (0.12) [6] (0.03) [7] 0.08 [7] 0.04 [7] (0.13) [7]       (0.59) (0.05) 0.04
Diluted (loss) earnings per share $ (0.39) [6] $ (0.99) [6] $ 0.60 [6] $ (0.87) [6] $ (0.19) [7] $ 0.83 [7] $ 0.96 [7] $ (0.51) [7]     $ (1.25) $ (1.65) $ 1.09 $ 3.11
Selected Quarterly Financial Information [Abstract]                            
Restructuring costs, net $ 13,000,000 $ 11,000,000 $ 9,000,000 $ 9,000,000 $ 11,000,000 $ 9,000,000 $ 5,000,000 $ 22,000,000       $ 42,000,000 [8],[9] $ 47,000,000 [8],[9] $ 12,000,000 [8],[9]
Former parent legacy costs (benefits), net   1,000,000     4,000,000                  
(Gain) loss on the early extinguishment of debt   (10,000,000)   5,000,000       7,000,000       (5,000,000) [10] 7,000,000 [10] 5,000,000 [10]
Impairment of Goodwill                 $ 1,153,000,000 $ 489,000,000   237,000,000 [11]    
Goodwill, Impairment Loss, net of taxes                       180,000,000    
Goodwill, Impairment Loss, Tax                       57,000,000    
Other Asset Impairment Charges 6,000,000 3,000,000 2,000,000 1,000,000               12,000,000    
Realogy Franchise Group                            
Segment Reporting Information [Line Items]                            
Net revenues 190,000,000 216,000,000 234,000,000 163,000,000 186,000,000 221,000,000 237,000,000 176,000,000       803,000,000 [1],[2] 820,000,000 [1],[2] 830,000,000 [1],[2],[3]
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest [Abstract]                            
(Loss) income from continuing operations before income taxes, equity in earnings and noncontrolling interests (b) 108,000,000 [4] 134,000,000 [4] 142,000,000 [4] 71,000,000 [4] 107,000,000 [5] 141,000,000 [5] 152,000,000 [5] 85,000,000 [5]            
Selected Quarterly Financial Information [Abstract]                            
Restructuring costs, net                       2,000,000 3,000,000 1,000,000
Impairment of Goodwill [11]                       0    
Realogy Brokerage Group                            
Segment Reporting Information [Line Items]                            
Net revenues 1,040,000,000 1,222,000,000 1,331,000,000 816,000,000 1,014,000,000 1,268,000,000 1,408,000,000 917,000,000       4,409,000,000 [1],[2] 4,607,000,000 [1],[2] 4,643,000,000 [1],[2],[3]
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest [Abstract]                            
(Loss) income from continuing operations before income taxes, equity in earnings and noncontrolling interests (b) (38,000,000) [4] (231,000,000) [4] 25,000,000 [4] (80,000,000) [4] (37,000,000) [5] 22,000,000 [5] 45,000,000 [5] (76,000,000) [5]            
Selected Quarterly Financial Information [Abstract]                            
Restructuring costs, net                       25,000,000 37,000,000 9,000,000
Impairment of Goodwill [11]                       237,000,000    
Goodwill, Impairment Loss, net of taxes                       180    
Realogy Title Group                            
Segment Reporting Information [Line Items]                            
Net revenues 152,000,000 170,000,000 160,000,000 114,000,000 136,000,000 162,000,000 162,000,000 120,000,000       596,000,000 [1],[2] 580,000,000 [1],[2] 570,000,000 [1],[2],[3]
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest [Abstract]                            
(Loss) income from continuing operations before income taxes, equity in earnings and noncontrolling interests (b) 7,000,000 [4] 21,000,000 [4] 22,000,000 [4] (13,000,000) [4] 1,000,000 [5] 18,000,000 [5] 26,000,000 [5] (8,000,000) [5]            
Selected Quarterly Financial Information [Abstract]                            
Restructuring costs, net                       3,000,000 4,000,000 1,000,000
Impairment of Goodwill [11]                       0    
Realogy Leads Group                            
Segment Reporting Information [Line Items]                            
Net revenues 17,000,000 24,000,000 26,000,000 16,000,000 17,000,000 23,000,000 25,000,000 16,000,000       83,000,000 [1],[2] 81,000,000 [1],[2] 78,000,000 [1],[2]
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest [Abstract]                            
(Loss) income from continuing operations before income taxes, equity in earnings and noncontrolling interests (b) 11,000,000 [4] 16,000,000 [4] 16,000,000 [4] 8,000,000 [4] 9,000,000 [5] 16,000,000 [5] 17,000,000 [5] 7,000,000 [5]            
Selected Quarterly Financial Information [Abstract]                            
Restructuring costs, net                       2,000,000    
Impairment of Goodwill [11]                       0    
Other                            
Segment Reporting Information [Line Items]                            
Net revenues (69,000,000) (82,000,000) (87,000,000) (55,000,000) [12] (68,000,000) [13] (83,000,000) [13] (92,000,000) [13] (63,000,000) [13]       (293,000,000) [1],[2],[14] (306,000,000) [1],[2],[14] (311,000,000) [1],[2],[3],[14]
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest [Abstract]                            
(Loss) income from continuing operations before income taxes, equity in earnings and noncontrolling interests (b) $ (73,000,000) [4] $ (90,000,000) [4] $ (110,000,000) [4] $ (104,000,000) [4] $ (102,000,000) [5] $ (67,000,000) [5] $ (73,000,000) [5] $ (66,000,000) [5]            
Selected Quarterly Financial Information [Abstract]                            
Restructuring costs, net                       $ 10,000,000 $ 3,000,000 $ 1,000,000
[1] Revenues for Realogy Leads Group include intercompany referral commissions paid by Realogy Brokerage Group of $18 million for each of the years ended December 31, 2019, 2018 and 2017. Such amounts are recorded as contra-revenues by Realogy Brokerage Group. There are no other material intersegment transactions.
[2] Transactions between segments are eliminated in consolidation. Revenues for Realogy Franchise Group include intercompany royalties and marketing fees paid by Realogy Brokerage Group of $293 million, $306 million and $311 million for the years ended December 31, 2019, 2018 and 2017, respectively. Such amounts are eliminated through the Corporate and Other line.
[3] Amounts for the year ended December 31, 2017 have not been adjusted under the modified retrospective method.
[4] The quarterly results include the following:
•restructuring charges of $9 million, $9 million, $11 million and $13 million in the first, second, third and fourth quarters, respectively;
•a goodwill impairment charge of $237 million in the third quarter which reduced the net carrying value of Realogy Brokerage Group by $180 million after accounting for the related income tax benefit of $57 million and $1 million, $2 million, $3 million and $6 million of other impairment charges primarily related to lease asset impairments incurred in the first, second, third and fourth quarters, respectively;
•former parent legacy net cost of $1 million in the third quarter; and
•a loss on the early extinguishment of debt of $5 million in the first quarter and a gain on the early extinguishment of debt of $10 million in the third quarter
[5] The quarterly results include the following:
•restructuring charges of $22 million, $5 million, $9 million and $11 million in the first, second, third and fourth quarters, respectively;
•former parent legacy net cost of $4 million in the fourth quarter; and
•a loss on the early extinguishment of debt of $7 million in the first quarter
[6] Basic and diluted EPS amounts in each quarter are computed using the weighted-average number of shares outstanding during that quarter, while basic and diluted EPS for the full year is computed using the weighted-average number of shares outstanding during the year. Therefore, the sum of the four quarters’ basic or diluted EPS may not equal the full year basic or diluted EPS (see Note 17 "Earnings (Loss) Per Share" for further information).(d)As a result of the pending sale of Cartus Relocation Services, the Company met held for sale requirements under ASC 360 and discontinued operations under ASC 205 in the fourth quarter of 2019. Therefore, amounts presented in the Company's Form 10-Qs for the periods prior to the fourth quarter of 2019 did not reflect discontinued operations, but have been adjusted to reflect discontinued operations in the tables above.
[7] Basic and diluted EPS amounts in each quarter are computed using the weighted-average number of shares outstanding during that quarter, while basic and diluted EPS for the full year is computed using the weighted-average number of shares outstanding during the year. Therefore, the sum of the four quarters’ basic or diluted EPS may not equal the full year basic or diluted EPS.(d)As a result of the pending sale of Cartus Relocation Services, the Company met held for sale requirements under ASC 360 and discontinued operations under ASC 205 in the fourth quarter of 2019. Therefore, amounts presented in the Company's Form 10-Qs for the periods prior to the fourth quarter of 2019 did not reflect discontinued operations, but have been adjusted to reflect discontinued operations in the tables above.
[8] The year ended December 31, 2019 includes $38 million of expense related to the Facility and Operational Efficiencies Program and $4 million of expense related to prior restructuring programs. The years ended December 31, 2018 and December 31, 2017 relate to prior restructuring programs.
[9] The year ended December 31, 2019 includes restructuring charges of $2 million at Realogy Franchise Group, $25 million at Realogy Brokerage Group, $3 million at Realogy Title Group, $2 million at Realogy Leads Group and $10 million at Corporate and Other.
The year ended December 31, 2018 includes restructuring charges of $3 million at Realogy Franchise Group, $37 million at Realogy Brokerage Group, $4 million at Realogy Title Group and $3 million at Corporate and Other.
The year ended December 31, 2017 includes restructuring charges of $1 million at Realogy Franchise Group, $9 million at Realogy Brokerage Group, $1 million at Realogy Title Group and $1 million at Corporate and Other.
[10] Former parent legacy items and (Gain) loss on the early extinguishment of debt are recorded in Corporate and Other.
[11] The Company recognized a goodwill impairment charge of $237 million during the third quarter of 2019 related to Realogy Brokerage Group. The impairment charge of $237 million was offset by an income tax benefit of $57 million resulting in a net reduction in the carrying value of Realogy Brokerage Group of $180 million (see Note 20, "Selected Quarterly Financial Data", for additional information).
[12] Represents the elimination of transactions primarily between Realogy Franchise Group and Realogy Brokerage Group.
[13] Represents the elimination of transactions primarily between Realogy Franchise Group and Realogy Brokerage Group.
[14] Includes the elimination of transactions between segments.