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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities    
Net income $ 113 $ 185
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 106 102
Deferred income taxes (4) 65
Impairments [1] 0 2
Amortization of deferred financing costs and debt discount (premium) 5 6
Loss on the early extinguishment of debt 92 18
Gain on the sale of businesses, investments or other assets, net [2] (135) (15)
Equity in losses (earnings) of unconsolidated entities (14) 41
Stock-based compensation 14 14
Mark-to-market adjustments on derivatives (35) (7)
Other adjustments to net income 0 (2)
Net change in assets and liabilities, excluding the impact of acquisitions and dispositions:    
Trade receivables (15) (14)
Relocation receivables (135) (67)
Other assets (36) (14)
Accounts payable, accrued expenses and other liabilities (170) (63)
Dividends received from unconsolidated entities 1 38
Other, net (20) (21)
Net cash (used in) provided by operating activities (205) 186
Investing Activities    
Property and equipment additions (56) (50)
Payments for acquisitions, net of cash acquired (14) (3)
Net proceeds from the sale of businesses 62 15
Investment in unconsolidated entities (15) (7)
Proceeds from the sale of investments in unconsolidated entities 13 0
Other, net 17 (6)
Net cash provided by (used in) investing activities 7 (51)
Financing Activities    
Repayments of Term Loan A Facility and Term Loan B Facility 0 (1,055)
Proceeds from issuance of Senior Notes 1,000 905
Redemption of Senior Secured Second Lien Notes (550) 0
Redemption of Senior Notes (550) 0
Repurchase of Senior Notes 59 0
Proceeds from issuance of Exchangeable Senior Notes 0 403
Payments for purchase of Exchangeable Senior Notes hedge transactions 0 (67)
Proceeds from issuance of Exchangeable Senior Notes warrant transactions 0 46
Amortization payments on term loan facilities (4) (6)
Net change in securitization obligations 57 40
Debt issuance costs (18) (20)
Cash paid for fees associated with early extinguishment of debt (80) (11)
Repurchase of common stock (45) 0
Taxes paid related to net share settlement for stock-based compensation (16) (9)
Other, net (17) (18)
Net cash (used in) provided by financing activities (282) 208
Effect of changes in exchange rates on cash, cash equivalents and restricted cash (1) 0
Net (decrease) increase in cash, cash equivalents and restricted cash (481) 343
Cash, cash equivalents and restricted cash, beginning of period 743 523
Cash, cash equivalents and restricted cash, end of period 262 866
Supplemental Disclosure of Cash Flow Information    
Interest Paid, Excluding Capitalized Interest, Operating Activities 90 83
Income tax payments, net 44 13
Payments to Acquire Retained Interest in Securitized Receivables $ 2 $ 2
[1] Non-cash impairments for the three and six months ended June 30, 2021 primarily relate to lease asset and software impairments.
[2] Gain on the sale of businesses, investments or other assets, net is recorded in Title Group related to the sale of the Title Underwriter during the first quarter of 2022 and the sale of a portion of the Company's ownership in the Title Insurance Underwriter Joint Venture during the second quarter of 2022. Gain on the sale of businesses, investments or other assets, net is recorded in Owned Brokerage Group during the three and six months ended June 30, 2021.