XML 46 R23.htm IDEA: XBRL DOCUMENT v3.21.2
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Revenues
 Revenues (a)
 Three Months Ended September 30, Nine Months Ended September 30,
 2021202020212020
Realogy Franchise Group$342 $314 $943 $761 
Realogy Brokerage Group1,705 1,479 4,667 3,281 
Realogy Title Group250 213 706 510 
Corporate and Other (b)(111)(97)(307)(220)
Total Company$2,186 $1,909 $6,009 $4,332 
_______________
 
 
(a)Transactions between segments are eliminated in consolidation. Revenues for the Realogy Franchise Group include intercompany royalties and marketing fees paid by Realogy Brokerage Group of $111 million and $307 million for the three and nine months ended September 30, 2021, respectively, and $97 million and $220 million for the three and nine months ended September 30, 2020, respectively. Such amounts are eliminated through the Corporate and Other line.
(b)Includes the elimination of transactions between segments.
Operating EBITDA
 Operating EBITDA
 Three Months Ended September 30, Nine Months Ended September 30,
 2021202020212020
Realogy Franchise Group$211 $200 $576 $421 
Realogy Brokerage Group51 61 116 25 
Realogy Title Group54 95 170 168 
Corporate and Other (a)(43)(43)(117)(94)
Total Company$273 $313 $745 $520 
Less: Depreciation and amortization50 43 152 134 
Interest expense, net
52 48 147 208 
Income tax expense (benefit)
48 36 125 (110)
Restructuring costs, net (b)
4 17 14 47 
Impairments (c)
1 70 3 610 
Former parent legacy cost, net (d)— 1 1 1 
Loss on the early extinguishment of debt (d)
3 — 21 8 
Loss (gain) on the sale of business, net (e)
1 — (14)— 
Net income (loss) attributable to Realogy Holdings and Realogy Group$114 $98 $296 $(378)
_______________
(a)Includes the elimination of transactions between segments.
(b)The three months ended September 30, 2021 includes restructuring charges of $1 million at Realogy Franchise Group, $2 million at Realogy Brokerage Group and $1 million at Corporate and Other.
The three months ended September 30, 2020 includes restructuring charges of $4 million at Realogy Franchise Group, $11 million at Realogy Brokerage Group and $2 million at Corporate and Other.
The nine months ended September 30, 2021 includes restructuring charges of $4 million at Realogy Franchise Group, $6 million at Realogy Brokerage Group and $4 million at Corporate and Other.
The nine months ended September 30, 2020 includes restructuring charges of $10 million at Realogy Franchise Group, $32 million at Realogy Brokerage Group, $3 million at Realogy Title Group and $2 million at Corporate and Other.
(c)Non- cash impairments for the three and nine months ended September 30, 2021 primarily relate to software and lease asset impairments.
Non-cash impairments for the three months ended September 30, 2020 include $59 million of impairment charges during the three months ended September 30, 2020 (while Cartus Relocation Services was held for sale) to reduce the net assets to the estimated proceeds and other asset impairments of $11 million primarily related to lease asset impairments.
Non-cash impairments for the nine months ended September 30, 2020 include:
•a goodwill impairment charge of $413 million related to Realogy Brokerage Group;
•an impairment charge of $30 million related to Realogy Franchise Group's trademarks;
•$133 million of impairment charges 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; and
•other asset impairments of $34 million primarily related to lease asset impairments.
(d)Former parent legacy items and Loss on the early extinguishment of debt are recorded in Corporate and Other.
(e)Loss (gain) on the sale of business, net is primarily recorded in Realogy Brokerage Group.