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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities      
Net (loss) income $ (283) $ 350 $ (356)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Depreciation and amortization 214 204 186
Deferred income taxes (96) 72 (114)
Impairments [1] 483 4 682
Amortization of deferred financing costs and debt discount (premium) 9 18 11
Loss on the early extinguishment of debt 96 21 8
Gain on the sale of businesses, investments or other assets, net [2] (135) (11) 0
Equity in losses (earnings) of unconsolidated entities 28 (48) (131)
Stock-based compensation 22 29 39
Mark-to-market adjustments on derivatives (40) (14) 51
Other adjustments to net (loss) income (7) (3) (5)
Net change in assets and liabilities, excluding the impact of acquisitions and dispositions:      
Trade receivables (55) 4 (4)
Relocation receivables (96) 0 64
Other assets (13) (10) 29
Accounts payable, accrued expenses and other liabilities (195) 17 220
Dividends received from unconsolidated entities 3 51 101
Other, net (27) (41) (33)
Net cash (used in) provided by operating activities (92) 643 748
Investing Activities      
Property and equipment additions (109) (101) (95)
Payments for acquisitions, net of cash acquired (17) (26) (1)
Net proceeds from the sale of businesses 63 15 23
Investment in unconsolidated entities (22) (39) (5)
Proceeds from the sale of investments in unconsolidated entities 13 0 0
Other, net 17 4 (12)
Net cash used in investing activities (55) (147) (90)
Financing Activities      
Net change in Revolving Credit Facility 350 0 (190)
Repayments of Term Loan A Facility and Term Loan B Facility 0 (1,490) 0
Proceeds from issuance of Senior Notes 1,000 905 0
Proceeds from issuance of Senior Secured Lien Notes 0 0 550
Redemption and repurchases of Senior Notes (956) 0 (550)
Redemption of Senior Secured Second Lien Notes (550) 0 0
Proceeds from issuance of Exchangeable Senior Notes 0 403 0
Payments for purchase of Exchangeable Senior Notes hedge transactions 0 (67) 0
Proceeds from issuance of Exchangeable Senior Notes warrant transactions 0 46 0
Amortization payments on term loan facilities (10) (10) (43)
Net change in securitization obligations 44 12 (99)
Debt issuance costs (22) (20) (15)
Cash paid for fees associated with early extinguishment of debt (83) (11) (7)
Repurchase of common stock (97) 0 0
Taxes paid related to net share settlement for stock-based compensation (16) (9) (5)
Other, net (36) (34) (43)
Net cash used in financing activities (376) (275) (402)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash (2) (1) 1
Net (decrease) increase in cash, cash equivalents and restricted cash (525) 220 257
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning Balance 743 523 266
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance 218 743 523
Supplemental Disclosure of Cash Flow Information      
Interest payments (including securitization interest of $7, $4 and $5 respectively) 164 188 209
Income tax payments, net 62 64 0
Payments to Acquire Retained Interest in Securitized Receivables $ 7 $ 4 $ 5
[1] Non-cash impairments for the year ended December 31, 2022 include an impairment of goodwill at the Owned Brokerage Group reporting unit of $280 million, an impairment of goodwill at the Franchise Group segment of $114 million related to the Cartus/Leads Group reporting unit, an impairment of franchise trademarks of $76 million and $13 million of other impairment charges related to lease asset, investment and software impairments.
Non-cash impairments for the year ended December 31, 2021 primarily relate to software and lease asset impairments.
Non-cash impairments for the year ended December 31, 2020 include:
•a goodwill impairment charge of $413 million related to Owned Brokerage Group;
•an impairment charge of $30 million related to Franchise Group's trademarks;
•$133 million of impairment charges during the nine months ended September 30, 2020 (while Cartus was held for sale) to reduce the net assets to the estimated proceeds;
•a goodwill impairment charge of $22 million related to Cartus;
•an impairment charge of $34 million related to Cartus' trademarks; and
•other asset impairments of $50 million primarily related to lease asset impairments.
[2] Gain on the sale of businesses, investments or other assets, net for the year ended December 31, 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. Gain on the sale of businesses, investments or other assets, net for the year ended December 31, 2021 is primarily recorded in Owned Brokerage Group.