Intangible Assets (Notes)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure

GOODWILL AND INTANGIBLE ASSETS

Goodwill by reporting unit and changes in the carrying amount are as follows:


	Realogy Franchise Group		Realogy Brokerage Group		Realogy Title Group		Realogy Leads Group		Total Company
Balance at January 1, 2017	$	2,292	$	893	$	145	$	184	$	3,514
Goodwill acquired (a)	—		11		9		—		20
Balance at December 31, 2017	2,292		904		154		184		3,534
Goodwill acquired (b)	—		2		—		—		2
Balance at December 31, 2018	2,292		906		154		184		3,536
Goodwill acquired (c)	—		—		1		—		1
Impairment (d)	—		(237)		—		—		(237)
Balance at December 31, 2019	$	2,292	$	669	$	155	$	184	$	3,300
Goodwill and accumulated impairment summary
Gross goodwill	$	3,315	$	1,064	$	479	$	321	$	5,179
Accumulated impairments (e)	(1,023)		(395)		(324)		(137)		(1,879)
Balance at December 31, 2019	$	2,292	$	669	$	155	$	184	$	3,300

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(a)Goodwill acquired during the year ended December 31, 2017 relates to the acquisition of sixteen real estate brokerage operations and two title and settlement operations.

(b)Goodwill acquired during the year ended December 31, 2018 relates to the acquisition of three real estate brokerage operations.

(c)Goodwill acquired during the year ended December 31, 2019 relates to the acquisition of two title and settlement operations.

(d)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).

(e)Includes impairment charges which reduced goodwill by $237 million, $1,153 million and $489 million during the third quarter of 2019, fourth quarter of 2008 and fourth quarter of 2007, respectively.

Intangible assets are as follows:


	As of December 31, 2019										As 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	$	859	$	1,160	$	2,019	$	792	$	1,227
Indefinite life—Trademarks (b)	$	673			$	673	$	673			$	673
Other Intangibles
Amortizable—License agreements (c)	$	45	$	12	$	33	$	45	$	11	$	34
Amortizable—Customer relationships (d)	71		57		14		71		55		16
Indefinite life—Title plant shares (e)	19				19		18				18
Amortizable—Other (f)	27		21		6		33		21		12
Total Other Intangibles	$	162	$	90	$	72	$	167	$	87	$	80

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(a)Generally amortized over a period of 30 years.

(b)Primarily related to real estate franchise brands 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 Realogy Title Group and Realogy Brokerage Group. These relationships are being amortized over a period of 2 to 12 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 is as follows:


	For the Year Ended December 31,
	2019		2018		2017
Franchise agreements	$	67	$	67	$	67
License agreements	1		1		1
Customer relationships	2		3		4
Other	6		5		9
Total	$	76	$	76	$	81

Based on the Company’s amortizable intangible assets as of December 31, 2019, the Company expects related amortization expense to be approximately $73 million, $71 million, $70 million, $70 million, $70 million and $859 million in 2020, 2021, 2022, 2023, 2024 and thereafter, respectively.