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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets Disclosure | GOODWILL AND INTANGIBLE ASSETS Goodwill Goodwill by reporting unit and changes in the carrying amount are as follows:
| Franchise Group |  | Owned Brokerage Group |  | Title Group |  | Total Company
Balance at December 31, 2021 | $ | 2,506 |  |  | $ | 259 |  |  | $ | 158 |  |  | $ | 2,923 |
Goodwill acquired (a) | — |  |  | 20 |  |  | 5 |  |  | 25 |
Goodwill reduction for sale of a business (b) | — |  |  | — |  |  | (32) |  |  | (32) |
Balance at September 30, 2022 | $ | 2,506 |  |  | $ | 279 |  |  | $ | 131 |  |  | $ | 2,916 |
Accumulated impairment losses (c) | $ | 1,447 |  |  | $ | 808 |  |  | $ | 324 |  |  | $ | 2,579 |
_______________ (a)Goodwill acquired during the nine months ended September 30, 2022 relates to the acquisition of four real estate brokerage operations and two title and settlement operations. (b)Goodwill reduction relates to the sale of the Title Underwriter during the first quarter of 2022 (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. Brokerage Acquisitions The Company acquired four real estate brokerage operations through Owned Brokerage Group, for aggregate cash consideration of $16 million and established $10 million of contingent consideration. These acquisitions resulted in goodwill of $20 million, other intangibles of $6 million, other assets of $26 million and other liabilities of $26 million. None of the acquisitions were significant to the Company’s results of operations, financial position or cash flows individually or in the aggregate. Intangible Assets Intangible assets are as follows:
| As of September 30, 2022 |  | As 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 |  |  | $ | 1,039 |  |  | $ | 971 |  |  | $ | 2,010 |  |  | $ | 989 |  |  | $ | 1,021 |
Indefinite life—Trademarks (b) | $ | 687 |  |  |  |  | $ | 687 |  |  | $ | 687 |  |  |  |  | $ | 687 |
Other Intangibles |  |  |  |  |  |  |  |  |  |  |
Amortizable—License agreements (c) | $ | 45 |  |  | $ | 15 |  |  | $ | 30 |  |  | $ | 45 |  |  | $ | 14 |  |  | $ | 31 |
Amortizable—Customer relationships (d) | 456 |  |  | 360 |  |  | 96 |  |  | 456 |  |  | 345 |  |  | 111 |
Indefinite life—Title plant shares (e) | 28 |  |  |  |  | 28 |  |  | 25 |  |  |  |  | 25 |
Amortizable—Other (f) | 11 |  |  | 9 |  |  | 2 |  |  | 16 |  |  | 12 |  |  | 4 |
Total Other Intangibles | $ | 540 |  |  | $ | 384 |  |  | $ | 156 |  |  | $ | 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 Franchise Group, Title Group and Owned 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 is as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Franchise agreements | $ | 17 |  |  | $ | 16 |  |  | $ | 50 |  |  | $ | 50 |
License agreements | 1 |  |  | 1 |  |  | 1 |  |  | 1 |
Customer relationships | 6 |  |  | 5 |  |  | 16 |  |  | 16 |
Other | 1 |  |  | 1 |  |  | 7 |  |  | 2 |
Total | $ | 25 |  |  | $ | 23 |  |  | $ | 74 |  |  | $ | 69 |
Based on the Company’s amortizable intangible assets as of September 30, 2022, the Company expects related amortization expense for the remainder of 2022, the four succeeding years and thereafter to be approximately $23 million, $90 million, $89 million, $89 million, $89 million and $719 million, respectively.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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