XML 38 R18.htm IDEA: XBRL DOCUMENT v3.22.1
Goodwill and Intangible Assets (Tables)
 3 Months Ended
Mar. 31, 2022
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 GroupRealogy Brokerage GroupRealogy
Title Group		Total
Company
Balance at December 31, 2021$2,506 $259 $158 $2,923 
Goodwill acquired (a)— 5 1 6 
Goodwill reduction for sale of a business (b)— — (32)(32)
Balance at March 31, 2022$2,506 $264 $127 $2,897 
Accumulated impairment losses (c)$1,447 $808 $324 $2,579 
_______________
(a)Goodwill acquired during the three months ended March 31, 2022 relates to the acquisition of two real estate brokerage operations and one title and settlement operation.
(b)Goodwill reduction during the three months ended March 31, 2022 relates to the sale of the Title Underwriter (see Note 1, "Basis of Presentation", for a description of the transaction).
(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 March 31, 2022As of December 31, 2021
 Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
Amortizable—Franchise agreements (a)$2,010 $1,006 $1,004 $2,010 $989 $1,021 
Indefinite life—Trademarks (b)$687 $687 $687 $687 
Other Intangibles
Amortizable—License agreements (c)$45 $14 $31 $45 $14 $31 
Amortizable—Customer relationships (d)456 350 106 456 345 111 
Indefinite life—Title plant shares (e)24 24 25 25 
Amortizable—Other (f)13 10 3 16 12 4 
Total Other Intangibles$538 $374 $164 $542 $371 $171 
_______________
(a)Generally amortized over a period of 30 years.
(b)Primarily related to real estate franchise brands, title and relocation tradenames 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 7 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 March 31,
 20222021
Franchise agreements$17 $17 
Customer relationships5 6 
Other2 — 
Total$24 $23