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v3.22.1

Short And Long-Term Debt Issuance and Redemption of Notes (Details) - USD ($) $ in Millions | 3 Months Ended |  |
--- | --- | --- | ---
Mar. 31, 2022 | Jan. 10, 2022 | Dec. 31, 2021
Debt Instrument [Line Items] |  |  |
Long-term Debt, Gross | $ 2,941 |  |
Debt Instrument, Redemption Price, Percentage | 100.00% |  |
Consolidated Leverage Ratio - Consolidated Net Income Build - Numerator | 4.0 |  |
Consolidated Leverage Ratio - Consolidated Net Income Build - Denominator | 1.0 |  |
Cumulative Credit Basket increase as a % of Consolidated Net Income when the consolidated leverage ratio is less than 4.0 to 1.0 | 50.00% |  |
Consolidated Leverage Ratio - Unlimited General Restricted Payment Basket - Numerator | 3.0 |  |
Consolidated Leverage Ratio - Unlimited Restricted Payment Basket - Denominator | 1.0 |  |
Max amount of shares repurchased and dividends declared per year under the 9.375 Credit Agreement | $ 45 |  |
Net Debt Seasonality Adjustment | 200 |  |
5.25% Senior Notes | Senior Notes |  |  |
Debt Instrument [Line Items] |  |  |
Long-term Debt, Gross | $ 1,000 | $ 1,000 | $ 0
Interest Rate | 5.25% |  |
9.375% Senior Notes | Senior Notes |  |  |
Debt Instrument [Line Items] |  |  |
Long-term Debt, Gross | $ 0 |  | 550
7.625% Senior Secured Second Lien Notes | Secured Debt |  |  |
Debt Instrument [Line Items] |  |  |
Long-term Debt, Gross | 0 |  | 550
5.75% Senior Notes | Senior Notes |  |  |
Debt Instrument [Line Items] |  |  |
Long-term Debt, Gross | $ 900 |  | $ 900
Interest Rate | 5.75% |  |

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- Definition The cumulative credit basket (as defined in the indenture governing the 9.375% Senior Notes) for restricted payments: (i) builds from January 1, 2019 and does not include the benefit of consolidated net income (as defined in the indenture governing the 9.375% Senior Notes) from prior periods, (ii) builds at 25% of consolidated net income when the consolidated leverage ratio (as such term is defined in the indenture governing the 9.375% Senior Notes) is equal to or greater than 4.0 to 1.0 (and 50% of consolidated net income when it is less than 4.0 to 1.0), and (iii) may not be used when the consolidated leverage ratio is equal to or greater than 4.0 to 1.0. + References No definition available. + Details
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- Definition The cumulative credit basket (as defined in the indenture governing the 9.375% Senior Notes) for restricted payments: (i) builds from January 1, 2019 and does not include the benefit of consolidated net income (as defined in the indenture governing the 9.375% Senior Notes) from prior periods, (ii) builds at 25% of consolidated net income when the consolidated leverage ratio (as such term is defined in the indenture governing the 9.375% Senior Notes) is equal to or greater than 4.0 to 1.0 (and 50% of consolidated net income when it is less than 4.0 to 1.0), and (iii) may not be used when the consolidated leverage ratio is equal to or greater than 4.0 to 1.0. + References No definition available. + Details
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- Definition The indenture governing the 9.375% Senior Notes requires the consolidated leverage ratio to be less than 3.0 to 1.0 to use an unlimited general restricted payment basket (which payments will reduce the cumulative credit basket, but not below zero). + References No definition available. + Details
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- Definition The indenture governing the 9.375% Senior Notes requires the consolidated leverage ratio to be less than 3.0 to 1.0 to use an unlimited general restricted payment basket (which payments will reduce the cumulative credit basket, but not below zero). + References No definition available. + Details
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- Definition Cumulative Credit Basket increases at 25% of consolidated net income when the consolidated leverage ratio (as such term is defined in the indenture governing the 9.375% Senior Notes) is equal to or greater than 4.0 to 1.0 (and 50% of consolidated net income when it is less than 4.0 to 1.0). + References No definition available. + Details
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- Definition Net debt under the indenture is Realogy Group's total indebtedness (excluding securitizations) less (i) its cash and cash equivalents in excess of restricted cash and (ii) a $200 million seasonality adjustment permitted when measuring the ratio on a date during the period of March 1 to May 31. + References No definition available. + Details
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