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Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

The impact of the revision to the Condensed Consolidated Statements of Operations as filed in the Company's Form 10-Q for the three and nine months ended September 30, 2019, as well as for the three and nine months ended September 30, 2019 as a result of the revision are as follows:

			Three Months Ended September 30, 2019
			As Previously Reported						Adjustment						Revised						Revised and adjusted for discontinued operations
Expenses
Impairments			$	183					$	57					$	240					$	240
Total expenses			1,713						57						1,770						1,700
Loss from continuing operations before income taxes, equity in earnings and noncontrolling interests			(84)						(57)						(141)						(150)
Income tax benefit from continuing operations			(8)						(14)						(22)						(23)
Net loss			(69)						(43)						(112)						(112)
Net loss attributable to Realogy Holdings and Realogy Group			$	(70)					$	(43)					$	(113)					$	(113)
Loss per share attributable to Realogy Holdings shareholders:
Basic loss per share			$	(0.61)					$	(0.38)					$	(0.99)					$	(0.99)
Diluted loss per share			$	(0.61)					$	(0.38)					$	(0.99)					$	(0.99)

			Nine Months Ended September 30, 2019
			As Previously Reported						Adjustment						Revised						Revised and adjusted for discontinued operations
Expenses
Impairments			$	186					$	57					$	243					$	243
Total expenses			4,600						57						4,657						4,441
Loss from continuing operations before income taxes, equity in earnings and noncontrolling interests			(122)						(57)						(179)						(173)
Income tax benefit from continuing operations			(9)						(14)						(23)						(22)
Net loss			(98)						(43)						(141)						(141)
Net loss attributable to Realogy Holdings and Realogy Group			$	(100)					$	(43)					$	(143)					$	(143)
Loss per share attributable to Realogy Holdings shareholders:
Basic loss per share			$	(0.88)					$	(0.37)					$	(1.25)					$	(1.25)
Diluted loss per share			$	(0.88)					$	(0.37)					$	(1.25)					$	(1.25)

The impact of the change to the Condensed Consolidated Statements of Comprehensive Loss for the three and nine months ended September 30, 2019 as a result of the revision is as follows:

			Three Months Ended September 30, 2019
			As Previously Reported						Adjustment						Revised						Revised and adjusted for discontinued operations
Net loss			$	(69)					$	(43)					$	(112)					$	(112)
Comprehensive loss			(70)						(43)						(113)						(113)
Comprehensive loss attributable to Realogy Holdings and Realogy Group			$	(71)					$	(43)					$	(114)					$	(114)

			Nine Months Ended September 30, 2019
			As Previously Reported						Adjustment						Revised						Revised and adjusted for discontinued operations
Net loss			$	(98)					$	(43)					$	(141)					$	(141)
Comprehensive loss			(98)						(43)						(141)						(141)
Comprehensive loss attributable to Realogy Holdings and Realogy Group			$	(100)					$	(43)					$	(143)					$	(143)

The impact of the change to the Condensed Consolidated Balance Sheets as of September 30, 2019 as a result of the revision is as follows:

			As of September 30, 2019
			As Previously Reported						Adjustment						Revised						Revised and adjusted for discontinued operations
ASSETS
Goodwill			$	3,532					$	(57)					$	3,475					$	3,300
Total assets			7,717						(57)						7,660						7,660
LIABILITIES AND EQUITY
Deferred income taxes			374						(14)						360						360
Total liabilities			5,534						(14)						5,520						5,520
Accumulated deficit			(2,607)						(43)						(2,650)						(2,650)
Total stockholders' equity			2,179						(43)						2,136						2,136
Total equity			2,183						(43)						2,140						2,140
Total liabilities and equity			$	7,717					$	(57)					$	7,660					$	7,660

The impact of the change to the Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2019 as a result of the revision is as follows:

			Nine Months Ended September 30, 2019
			As Previously Reported						Adjustment						Revised						Revised and adjusted for discontinued operations
Operating Activities
Net loss from continuing operations			$	(98)					$	(43)					$	(141)					$	(136)
Adjustments to reconcile net loss from continuing operations to net cash provided by operating activities:
Deferred income taxes			(16)						(14)						(30)						(29)
Impairments			186						57						243						243
Net cash provided by operating activities			$	230					$	—					$	230					$	230

Schedule of Unaudited Quarterly Financial Data

Provided below is selected unaudited quarterly financial data for 2019 and 2018.

			2019
			First (d)						Second (d)						Third (d)						Fourth
Net revenues
Realogy Franchise Group			$	163					$	234					$	216					$	190
Realogy Brokerage Group			816						1,331						1,222						1,040
Realogy Title Group			114						160						170						152
Realogy Leads Group			16						26						24						17
Corporate and Other (a)			(55)						(87)						(82)						(69)
Total Company			$	1,054					$	1,664					$	1,550					$	1,330
(Loss) income from continuing operations before income taxes, equity in earnings and noncontrolling interests (b)
Realogy Franchise Group			$	71					$	142					$	134					$	108
Realogy Brokerage Group			(80)						25						(231)						(38)
Realogy Title Group			(13)						22						21						7
Realogy Leads Group			8						16						16						11
Corporate and Other			(104)						(110)						(90)						(73)
Total Company			$	(118)					$	95					$	(150)					$	15
Net (loss) income from continuing operations attributable to Realogy Holdings shareholders			$	(85)					$	68					$	(121)					$	17
Net (loss) income from discontinued operations attributable to Realogy Holdings shareholders			(14)						1						8						(62)
Net (loss) income attributable to Realogy Holdings and Realogy Group			$	(99)					$	69					$	(113)					$	(45)
(Loss) earnings per share attributable to Realogy Holdings (c):
Basic (loss) earnings per share from continuing operations			$	(0.75)					$	0.59					$	(1.06)					$	0.15
Basic (loss) earnings per share from discontinued operations			(0.12)						0.01						0.07						(0.54)
Basic (loss) earnings per share			(0.87)						0.60						(0.99)						(0.39)
Diluted (loss) earnings per share from continuing operations			(0.75)						0.59						(1.06)						0.15
Diluted (loss) earnings per share from discontinued operations			(0.12)						0.01						0.07						(0.54)
Diluted (loss) earnings per share			$	(0.87)					$	0.60					$	(0.99)					$	(0.39)

_______________

(a)Represents the elimination of transactions primarily between Realogy Franchise Group and Realogy Brokerage Group.

(b)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.

(c)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.

			2018
			First (d)						Second (d)						Third (d)						Fourth (d)
Net revenues
Realogy Franchise Group			$	176					$	237					$	221					$	186
Realogy Brokerage Group			917						1,408						1,268						1,014
Realogy Title Group			120						162						162						136
Realogy Leads Group			16						25						23						17
Corporate and Other (a)			(63)						(92)						(83)						(68)
Total Company			$	1,166					$	1,740					$	1,591					$	1,285
(Loss) income from continuing operations before income taxes, equity in earnings and noncontrolling interests (b)
Realogy Franchise Group			$	85					$	152					$	141					$	107
Realogy Brokerage Group			(76)						45						22						(37)
Realogy Title Group			(8)						26						18						1
Realogy Leads Group			7						17						16						9
Corporate and Other			(66)						(73)						(67)						(102)
Total Company			$	(58)					$	167					$	130					$	(22)
Net (loss) income from continuing operations attributable to Realogy Holdings shareholders			$	(49)					$	118					$	93					$	(19)
Net (loss) income from discontinued operations attributable to Realogy Holdings shareholders			(18)						5						10						(3)
Net (loss) income attributable to Realogy Holdings and Realogy Group			$	(67)					$	123					$	103					$	(22)
(Loss) earnings per share attributable to Realogy Holdings (c):
Basic (loss) earnings per share from continuing operations			$	(0.38)					$	0.93					$	0.76					$	(0.16)
Basic (loss) earnings per share from discontinued operations			(0.13)						0.04						0.08						(0.03)
Basic (loss) earnings per share			(0.51)						0.97						0.84						(0.19)
Diluted (loss) earnings per share from continuing operations			(0.38)						0.92						0.75						(0.16)
Diluted (loss) earnings per share from discontinued operations			(0.13)						0.04						0.08						(0.03)
Diluted (loss) earnings per share			$	(0.51)					$	0.96					$	0.83					$	(0.19)

_______________

(a)Represents the elimination of transactions primarily between Realogy Franchise Group and Realogy Brokerage Group.

(b)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.

(c)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.

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