XML 138 R113.htm IDEA: XBRL DOCUMENT v3.24.0.1
Operating EBITDA (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2008
Dec. 31, 2007
Segment Reporting Information [Line Items]                  
Operating EBITDA     $ 200 $ 449 $ 902        
Depreciation and amortization     196 214 204        
Interest expense, net     151 113 190        
Income tax (benefit) expense     (15) (68) 133        
Restructuring costs, net [1],[2]     49 32 17        
Impairments [3]     65 483 4        
Former parent legacy cost, net [4]     18 1 1        
(Gain) loss on the early extinguishment of debt [4]     (169) 96 21        
Loss (gain) on the sale of businesses, investments or other assets, net [5]     2 (135) (11)        
Net Income (Loss) Attributable to Parent     (97) (287) 343        
Impairment of Goodwill     25 394   $ 540 $ 253 $ 1,279 $ 507
Other Asset Impairment Charges     15 13          
Corporate, Non-Segment                  
Segment Reporting Information [Line Items]                  
Operating EBITDA [4],[6]     (166) (144) (158)        
Depreciation and amortization     18 21 25        
Restructuring costs, net     9 12 5        
Franchise Group                  
Segment Reporting Information [Line Items]                  
Impairment of Goodwill $ 25 $ 114 25 114          
Franchise Group | Indefinite life—Trademarks                  
Segment Reporting Information [Line Items]                  
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill) Costs and Expenses Costs and Expenses              
Franchise Group | Operating Segments                  
Segment Reporting Information [Line Items]                  
Operating EBITDA     527 670 751        
Depreciation and amortization     114 119 112        
Restructuring costs, net     11 1 5        
Owned Brokerage Group                  
Segment Reporting Information [Line Items]                  
Impairment of Goodwill   $ 280 0 280          
Owned Brokerage Group | Operating Segments                  
Segment Reporting Information [Line Items]                  
Operating EBITDA     (144) (86) 109        
Depreciation and amortization     52 63 56        
Restructuring costs, net     25 19 7        
Title Group                  
Segment Reporting Information [Line Items]                  
Impairment of Goodwill     0 0          
Title Group | Operating Segments                  
Segment Reporting Information [Line Items]                  
Operating EBITDA     (17) 9 200        
Depreciation and amortization     12 $ 11 $ 11        
Restructuring costs, net     $ 4            
[1] Restructuring charges for the year ended December 31, 2023 include $43 million of expense related to the Operational Efficiencies Plan and $6 million of expense related to prior restructuring plans. Restructuring charges for the year ended December 31, 2022 include $20 million of expense related to the Operational Efficiencies Plan and $12 million of expense related to prior restructuring plans. Restructuring charges for the year ended December 31, 2021 related to prior restructuring plans.
[2] The year ended December 31, 2023 includes restructuring charges of $11 million at Franchise Group, $25 million at Owned Brokerage Group, $4 million at Title Group and $9 million at Corporate and Other.
The year ended December 31, 2022 includes restructuring charges of $1 million at Franchise Group, $19 million at Owned Brokerage Group and $12 million at Corporate and Other.
The year ended December 31, 2021 includes restructuring charges of $5 million at Franchise Group, $7 million at Owned Brokerage Group and $5 million at Corporate and Other.
[3] Non-cash impairments for the year ended December 31, 2023 include $25 million at Franchise Group to reduce goodwill related to Cartus, $25 million related to franchise trademarks and $15 million related to leases and other assets.
Non-cash impairments for the year ended December 31, 2022 include $280 million and $114 million related to goodwill at Owned Brokerage Group and Franchise Group, respectively, $76 million related to franchise trademarks and $13 million related to leases and other assets including an investment.
Non-cash impairments for the year ended December 31, 2021 primarily related to leases and other assets.
[4] Former parent legacy items and (Gain) loss on the early extinguishment of debt are recorded in Corporate and Other. Former parent legacy cost in 2023 relates to developments in a legacy tax matter in the first quarter of 2023. Gain on the early extinguishment of debt in 2023 relates to the debt exchange transactions and open market repurchases that occurred during the third quarter of 2023. Loss on the early extinguishment of debt in 2022 primarily relates to the refinancing transactions that occurred during the first quarter of 2022.
[5] Loss (gain) on the sale of businesses, investments or other assets, net in 2022 is recorded in Title Group and is related to the sale of the Title Underwriter and subsequent sales of a portion of the Company's ownership in the Title Insurance Underwriter Joint Venture.
[6] Includes the elimination of transactions between segments.