Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill by segment and changes in the carrying amount

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


	Realogy Franchise Group		Realogy Brokerage Group		Realogy Title Group		Total Company
Balance at December 31, 2020	$	2,509	$	245	$	156	$	2,910
Goodwill acquired (a)	—		—		2		2
Goodwill reduction for sale of a business (b)	(3)		(10)		—		(13)
Balance at September 30, 2021	$	2,506	$	235	$	158	$	2,899

Accumulated impairment losses (c)	$	1,447	$	808	$	324	$	2,579

_______________

(a)Goodwill acquired during the nine months ended September 30, 2021 relates to the acquisition of one title and settlement operation.

(b)Goodwill reduction relates to the sale of a relocation-related business during the first quarter of 2021 and the sale of a business at Realogy Brokerage Group during the second quarter of 2021.

(c)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 September 30, 2021						As of December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortizable—Franchise agreements (a)	$	2,010	$	972	$	1,038	$	2,010	$	922	$	1,088
Indefinite life—Trademarks (b)	$	685			$	685	$	685			$	685
Other Intangibles
Amortizable—License agreements (c)	$	45	$	14	$	31	$	45	$	13	$	32
Amortizable—Customer relationships (d)	456		339		117		509		376		133
Indefinite life—Title plant shares (e)	25				25		20				20
Amortizable—Other (f)	12		10		2		14		11		3
Total Other Intangibles	$	538	$	363	$	175	$	588	$	400	$	188

_______________

(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 Franchise Group, Realogy Title Group and Realogy Brokerage Group. These relationships are being amortized over a period of 2 to 20 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

Intangible asset amortization expense is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Franchise agreements	$	16	$	17	$	50	$	51
License agreements	1		1		1		1
Customer relationships	5		—		16		1
Other	1		1		2		3
Total	$	23	$	19	$	69	$	56