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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities      
Net income (loss) $ 350 $ (356) $ (185)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 204 186 195
Deferred income taxes 72 (114) 3
Impairments [1] 4 682 271
Amortization of deferred financing costs and debt discount (premium) 18 11 10
Loss (gain) on the early extinguishment of debt 21 8 (5)
Gain on the sale of business, net [2] (11) 0 0
Equity in earnings of unconsolidated entities (48) (131) (18)
Stock-based compensation 29 39 30
Mark-to-market adjustments on derivatives (14) 51 39
Other adjustments to net income (loss) (3) (5) (4)
Net change in assets and liabilities, excluding the impact of acquisitions and dispositions:      
Trade receivables 4 (4) 22
Relocation receivables 0 64 29
Other assets (10) 29 4
Accounts payable, accrued expenses and other liabilities 17 220 (22)
Dividends received from unconsolidated entities 51 101 3
Other, net (41) (33) (1)
Net cash provided by operating activities 643 748 371
Investing Activities      
Property and equipment additions (101) (95) (119)
Payments for acquisitions, net of cash acquired (26) (1) (1)
Proceeds from the sale of business 15 23 0
Investment in unconsolidated entities (39) (5) (12)
Other, net 4 (12) 4
Net cash used in investing activities (147) (90) (128)
Financing Activities      
Net change in Revolving Credit Facility 0 (190) (80)
Repayments of Term Loan A Facility and Term Loan B Facility (1,490) 0 0
Proceeds from issuance of Senior Notes 905 0 550
Proceeds from issuance of Senior Secured Lien Notes 0 550 0
Redemption and repurchase of Senior Notes 0 (550) (533)
Proceeds from issuance of Exchangeable Senior Notes 403 0 0
Payments for purchase of Exchangeable Senior Notes hedge transactions (67) 0 0
Proceeds from issuance of Exchangeable Senior Notes warrant transactions 46 0 0
Amortization payments on term loan facilities (10) (43) (30)
Net change in securitization obligations 12 (99) (26)
Debt issuance costs (20) (15) (9)
Cash paid for fees associated with early extinguishment of debt (11) (7) (5)
Repurchase of common stock 0 0 (20)
Dividends paid on common stock 0 0 (31)
Taxes paid related to net share settlement for stock-based compensation (9) (5) (6)
Other, net (34) (43) (25)
Net cash used in financing activities (275) (402) (215)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash (1) 1 0
Net increase in cash, cash equivalents and restricted cash 220 257 28
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning Balance 523 266 238
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance 743 523 266
Supplemental Disclosure of Cash Flow Information      
Interest payments (including securitization interest of $4, $5 and $8 respectively) 188 209 210
Income tax payments (refunds), net 64 0 (3)
Payments to Acquire Retained Interest in Securitized Receivables $ 4 $ 5 $ 8
[1] Non-cash impairments for the year ended December 31, 2021 primarily relate to software and lease asset impairments.
Non-cash impairments for the year ended December 31, 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;
•a goodwill impairment charge of $22 million related to Cartus Relocation Services;
•an impairment charge of $34 million related to Cartus Relocation Services' trademarks; and
•other asset impairments of $50 million primarily related to lease asset impairments.
Non-cash impairments for the year ended December 31, 2019 include a goodwill impairment charge of $237 million related to Realogy Brokerage Group, a $22 million 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 and $12 million of other impairment charges primarily related to lease asset impairments.
[2] Gain on the sale of business, net is primarily recorded in Realogy Brokerage Group.