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Intangible Assets (Notes) | 12 Months Ended
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Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets Disclosure | GOODWILL AND INTANGIBLE ASSETS Impairment of Goodwill and Other Indefinite-lived Intangible Assets During the first quarter of 2020, the Company determined that the impact on future earnings related to the COVID-19 pandemic qualified as a triggering event for all of our reporting units and accordingly, the Company performed an impairment assessment of goodwill and other indefinite-lived intangible assets as of March 31, 2020. This assessment resulted in the recognition of a goodwill impairment of $413 million for Realogy Brokerage Group and an impairment of Realogy Franchise Group trademarks of $30 million. The primary drivers of the impairments were a significant increase in the weighted average cost of capital due to the volatility in the capital and debt markets due to COVID-19 and the related lower projected financial results. During the nine months ended September 30, 2020, the Company recorded reserves (while Cartus Relocation Services was held for sale) to reduce net assets to estimated proceeds. Upon reclassification of Cartus Relocations Services to held and used on the Consolidated Balance Sheets in the fourth quarter of 2020, the reserves were included within the Realogy Franchise Group reportable segment in the Impairments line in the Consolidated Statements of Operations consisting of $105 million related to goodwill and $18 million related to customer relationships. In addition, the Company performed an impairment assessment upon reclassification during the fourth quarter of 2020 and the impairment assessment indicated that the carrying value of Cartus Relocation Services exceeded its estimated fair value. The Company believes that the reduced fair value is a result of the impact of the COVID-19 crisis resulting in lower relocation activity which has negatively impacted the operating results of the relocation services. Furthermore, recent U.S. immigration and visa restrictions have exacerbated these trends. As a result, during the fourth quarter of 2020, the Company recognized an additional goodwill impairment charge of $22 million and a trademark impairment charge of $34 million related to Cartus Relocation Services. Goodwill Goodwill by reportable segment and changes in the carrying amount are as follows:
| Realogy Franchise Group |  | Realogy Brokerage Group |  | Realogy Title Group |  | Total Company
Balance at January 1, 2018 | $ | 2,652 |  |  | $ | 904 |  |  | $ | 154 |  |  | $ | 3,710 |
Goodwill acquired (a) | — |  |  | 2 |  |  | — |  |  | 2 |
Balance at December 31, 2018 | 2,652 |  |  | 906 |  |  | 154 |  |  | 3,712 |
Goodwill acquired (b) | — |  |  | — |  |  | 1 |  |  | 1 |
Impairment (c) | (16) |  |  | (237) |  |  | — |  |  | (253) |
Balance at December 31, 2019 | 2,636 |  |  | 669 |  |  | 155 |  |  | 3,460 |
Goodwill acquired (d) | — |  |  | — |  |  | 1 |  |  | 1 |
Goodwill reduction for sale of a business | — |  |  | (11) |  |  | — |  |  | (11) |
Impairment (e) | (127) |  |  | (413) |  |  | — |  |  | (540) |
Balance at December 31, 2020 | $ | 2,509 |  |  | $ | 245 |  |  | $ | 156 |  |  | $ | 2,910 |
Goodwill and accumulated impairment summary: |  |  |  |  |  |
Gross goodwill | $ | 3,956 |  |  | $ | 1,053 |  |  | $ | 480 |  |  | $ | 5,489 |
Accumulated impairments (f) | (1,447) |  |  | (808) |  |  | (324) |  |  | (2,579) |
Balance at December 31, 2020 | $ | 2,509 |  |  | $ | 245 |  |  | $ | 156 |  |  | $ | 2,910 |
_______________ (a)Goodwill acquired during the year ended December 31, 2018 relates to the acquisition of three real estate brokerage operations. (b)Goodwill acquired during the year ended December 31, 2019 relates to the acquisition of two title and settlement operations. (c)The Company recognized a goodwill impairment charge of $16 million during the fourth quarter of 2019 related to the reduction to record net assets held for sale at the lower of carrying value or fair value, less costs to sell, for Cartus Relocation Services which was presented as held for sale at December 31, 2019. The Company recognized a goodwill impairment charge of $237 million during the third quarter of 2019 related to Realogy Brokerage Group. (d)Goodwill acquired during the year ended December 31, 2020 relates to the acquisition of two title and settlement operations. (e)The Company recognized a goodwill impairment charge of $105 million related to reserves recorded during the nine months ended September 30, 2020 (while Cartus Relocation Services was held for sale) to reduce the net assets to the estimated proceeds which were included in Impairments in connection with the reclassification of Cartus Relocation Services as continuing operations during the fourth quarter of 2020. Furthermore, the Company recognized an additional goodwill impairment charge of $22 million during the fourth quarter of 2020 related to Cartus Relocation Services. The Company recognized a goodwill impairment charge of $413 million during the first quarter of 2020 related to Realogy Brokerage Group. (f)Includes impairment charges which reduced goodwill by $540 million during 2020, $253 million during 2019, $1,279 million during 2008 and $507 million during 2007. Intangible Assets Intangible assets are as follows:
| As of December 31, 2020 |  | As of December 31, 2019
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Amortizable—Franchise agreements (a) | $ | 2,010 |  |  | $ | 922 |  |  | $ | 1,088 |  |  | $ | 2,019 |  |  | $ | 859 |  |  | $ | 1,160 |
Indefinite life—Trademarks (b)(c) | $ | 685 |  |  |  |  | $ | 685 |  |  | $ | 749 |  |  |  |  | $ | 749 |
Other Intangibles |  |  |  |  |  |  |  |  |  |  |
Amortizable—License agreements (d) | $ | 45 |  |  | $ | 13 |  |  | $ | 32 |  |  | $ | 45 |  |  | $ | 12 |  |  | $ | 33 |
Amortizable—Customer relationships (e) | 509 |  |  | 376 |  |  | 133 |  |  | 545 |  |  | 378 |  |  | 167 |
Indefinite life—Title plant shares (f) | 20 |  |  |  |  | 20 |  |  | 19 |  |  |  |  | 19 |
Amortizable—Other (g) | 14 |  |  | 11 |  |  | 3 |  |  | 27 |  |  | 21 |  |  | 6 |
Total Other Intangibles | $ | 588 |  |  | $ | 400 |  |  | $ | 188 |  |  | $ | 636 |  |  | $ | 411 |  |  | $ | 225 |
_______________ (a)Generally amortized over a period of 30 years. (b)Primarily related to real estate franchise brands and relocation tradenames which are expected to generate future cash flows for an indefinite period of time. (c)Realogy Franchise Group's trademarks was impaired by $30 million during first quarter of 2020 and Cartus Relocation Services trademarks was impaired by $34 million during the fourth quarter of 2020. (d)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). (e)Relates to the customer relationships at Realogy Franchise Group, Realogy Title Group and Realogy Brokerage Group. These relationships are being amortized over a period of 2 to 20 years. The Company recognized impairment charges of $18 million and $4 million during the years ended December 31, 2020 and 2019, respectively, related to Cartus Relocation Services, as well as an $18 million reduction for the sale of a business during the year ended December 31, 2020. (f)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. (g)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,
| 2020 |  | 2019 |  | 2018
Franchise agreements | $ | 67 |  |  | $ | 67 |  |  | $ | 67 |
License agreements | 1 |  |  | 1 |  |  | 1 |
Customer relationships | 5 |  |  | 19 |  |  | 24 |
Other | 4 |  |  | 6 |  |  | 5 |
Total | $ | 77 |  |  | $ | 93 |  |  | $ | 97 |
Based on the Company’s amortizable intangible assets as of December 31, 2020, the Company expects related amortization expense to be approximately $87 million, $86 million, $86 million, $85 million, $85 million and $827 million in 2021, 2022, 2023, 2024, 2025 and thereafter, respectively.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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