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Goodwill and Intangible Assets (Tables)
9 Months Ended
Sep. 30, 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:
Franchise Group
Owned Brokerage Group
Title Group
Total
Company
Balance at December 31, 2021$2,506 $259 $158 $2,923 
Goodwill acquired (a)— 20 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.
Intangible Assets
Intangible assets are as follows:
 As of September 30, 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 $1,039 $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 16 12 
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
Intangible asset amortization expense is as follows:
 Three Months Ended
September 30,
Nine Months Ended
 September 30,
 2022202120222021
Franchise agreements$17 $16 $50 $50 
License agreements
Customer relationships16 16 
Other
Total$25 $23 $74 $69