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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities    
Net income $ 169 $ 301
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 159 152
Deferred income taxes 6 76
Impairments [1] 3 3
Amortization of deferred financing costs and debt discount (premium) 7 12
Loss on the early extinguishment of debt 92 21
Gain on the sale of businesses, investments or other assets, net [2] (135) (14)
Equity in losses (earnings) of unconsolidated entities 16 (52)
Stock-based compensation 20 21
Mark-to-market adjustments on derivatives (40) (8)
Other adjustments to net income (3) (2)
Net change in assets and liabilities, excluding the impact of acquisitions and dispositions:    
Trade receivables (44) (13)
Relocation receivables (112) (46)
Other assets (50) (12)
Accounts payable, accrued expenses and other liabilities (139) 32
Dividends received from unconsolidated entities 2 49
Other, net (22) (31)
Net cash (used in) provided by operating activities (71) 489
Investing Activities    
Property and equipment additions (83) (71)
Payments for acquisitions, net of cash acquired (17) (3)
Net proceeds from the sale of businesses 63 15
Investment in unconsolidated entities (18) (7)
Proceeds from the sale of investments in unconsolidated entities 13 0
Other, net 17 (2)
Net cash used in investing activities (25) (68)
Financing Activities    
Repayments of Term Loan A Facility and Term Loan B Facility 0 (1,490)
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 (67) 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 (7) (8)
Net change in securitization obligations 51 40
Debt issuance costs (22) (20)
Cash paid for fees associated with early extinguishment of debt (80) (11)
Repurchase of common stock (97) 0
Taxes paid related to net share settlement for stock-based compensation (16) (9)
Other, net (29) (27)
Net cash used in financing activities (367) (238)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash (3) 0
Net (decrease) increase in cash, cash equivalents and restricted cash (466) 183
Cash, cash equivalents and restricted cash, beginning of period 743 523
Cash, cash equivalents and restricted cash, end of period 277 706
Supplemental Disclosure of Cash Flow Information    
Payments to Acquire Retained Interest in Securitized Receivables 4 3
Interest Paid, Excluding Capitalized Interest, Operating Activities 123 121
Income tax payments, net $ 61 $ 32
[1] Non-cash impairments primarily relate to software and lease asset impairments.
[2] Loss (gain) on the sale of businesses, investments or other assets, net for the nine months ended September 30, 2022 is recorded in Title Group and 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. Loss (gain) on the sale of businesses, investments or other assets, net for the nine months ended September 30, 2021 is primarily recorded in Owned Brokerage Group.