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Restructuring Costs (Tables)

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The components of the restructuring charges were as follows:

			Three Months Ended June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Personnel-related costs (1)			$	5					$	2					$	10					$	13
Facility-related costs (2)			2						4						8						18
Total restructuring charges (3)			$	7					$	6					$	18					$	31

_______________

(1)Personnel-related costs consist of severance costs provided to employees who have been terminated.

(2)Facility-related costs consist of costs associated with planned facility closures such as contract termination costs, amortization of lease assets that will continue to be incurred under the contract for its remaining term without economic benefit to the Company, accelerated depreciation on asset disposals and other facility and employee relocation related costs.

(3)Restructuring charges for the three months ended June 30, 2024 include $6 million of expense related to the Operational Efficiencies Plan and $1 million of expense related to prior restructuring plans.

Restructuring charges for the three months ended June 30, 2023 include $5 million of expense related to the Operational Efficiencies Plan and $1 million of expense related to prior restructuring plans.

Restructuring charges for the six months ended June 30, 2024 include $16 million of expense related to the Operational Efficiencies Plan and $2 million of expense related to prior restructuring plans.

Restructuring charges for the six months ended June 30, 2023 include $28 million of expense related to the Operational Efficiencies Plan and $3 million of expense related to prior restructuring plans.

Schedule of Restructuring Reserve by Type of Cost

The following is a reconciliation of the beginning and ending reserve balances related to the Plan:

			Personnel-related costs						Facility-related costs						Total
Balance at December 31, 2023			$	10					$	4					$	14
Restructuring charges (1)			10						6						16
Costs paid or otherwise settled			(8)						(7)						(15)
Balance at June 30, 2024			$	12					$	3					15

_______________

(1)In addition, the Company incurred $6 million of facility-related costs for lease asset impairments in connection with the Plan during the six months ended June 30, 2024.

Schedule of Expected Restructuring Costs by Cost Type

The following table shows the total costs currently expected to be incurred by type of cost related to the Plan:

			Total amount expected to be incurred						Amount incurred to date						Total amount remaining to be incurred
Personnel-related costs			$	47					$	45					$	2
Facility-related costs			41						34						7
Total			$	88					$	79					$	9

Schedule of Expected Restructuring Costs by Business Segment

The following table shows the total costs currently expected to be incurred by reportable segment related to the Plan:

			Total amount expected to be incurred						Amount incurred to date						Total amount remaining to be incurred
Franchise Group			$	16					$	16					$	—
Owned Brokerage Group			54						46						8
Title Group			6						5						1
Corporate and Other			12						12						—
Total			$	88					$	79					$	9

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- Definition

Tabular disclosure of expected restructuring and related costs by business segment including expected costs to be incurred, the cumulative costs incurred as of the balance sheet date, and remaining costs to be incurred.

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Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

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