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Restructuring Costs (Notes) | 6 Months Ended
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Jun. 30, 2025
Restructuring and Related Activities [Abstract] |
Restructuring Costs | RESTRUCTURING COSTS Restructuring charges were $12 million and $24 million for the three and six months ended June 30, 2025, respectively, and $7 million and $18 million for the three and six months ended June 30, 2024, respectively. The components of the restructuring charges were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Personnel-related costs (a) | $ | 5 |  |  | $ | 5 |  |  | $ | 8 |  |  | $ | 10 |
Facility-related costs (b) | 4 |  |  | 2 |  |  | 11 |  |  | 8 |
Other (c) | 3 |  |  | — |  |  | 5 |  |  | — |
Total restructuring charges (d) | $ | 12 |  |  | $ | 7 |  |  | $ | 24 |  |  | $ | 18 |
_______________ (a)Personnel-related costs consist of severance costs provided to employees who have been terminated. (b)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. (c)Other restructuring costs consist of costs related to professional fees, consulting fees and other costs associated with restructuring activities which are primarily recorded at Corporate. (d)Restructuring charges for the three months ended June 30, 2025 include $11 million of expense related to Reimagine25 and $1 million of expense related to prior restructuring plans. Restructuring charges for the three months ended June 30, 2024 include $7 million of expense related to prior restructuring plans. Restructuring charges for the six months ended June 30, 2025 include $19 million of expense related to Reimagine25 and $5 million of expense related to prior restructuring plans. Restructuring charges for the six months ended June 30, 2024 include $18 million of expense related to prior restructuring plans. Reimagine25: Strategic Transformation Initiative In 2025, the Company launched Reimagine25 to transform how it operates as a Company. The initial phase of this initiative focuses on reimagining its branch operating model, improving product and technology infrastructure, optimizing leads management, streamlining finance processes, and enhancing procurement. These efforts are designed to simplify, integrate, and digitize operations, leveraging advanced technologies such as generative artificial intelligence to provide better solutions at a lower cost. As part of Reimagine25, the Company will incur restructuring costs associated with the implementation of these transformative changes. As the Company's transformation progresses, it may further expand the Reimagine25 focus areas to encompass additional aspects of the business. The following is a reconciliation of the beginning and ending reserve balances related to Reimagine25:
| Personnel-related costs |  | Facility-related costs |  | Other |  | Total
Balance at December 31, 2024 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Restructuring charges (a) | 8 |  |  | 6 |  |  | 5 |  |  | 19 |
Costs paid or otherwise settled | (2) |  |  | (3) |  |  | (4) |  |  | (9) |
Balance at June 30, 2025 | $ | 6 |  |  | $ | 3 |  |  | $ | 1 |  |  | $ | 10 |
_______________ (a)In addition, the Company incurred $2 million of facility-related costs for lease asset impairments in connection with Reimagine25 during the six months ended June 30, 2025. The following table shows the total costs currently expected to be incurred by type of cost related to Reimagine25:
| Total amount expected to be incurred |  | Amount incurred to date |  | Total amount remaining to be incurred
Personnel-related costs | $ | 12 |  |  | $ | 8 |  |  | $ | 4 |
Facility-related costs | 16 |  |  | 6 |  |  | 10 |
Other costs | 8 |  |  | 7 |  |  | 1 |
Total | $ | 36 |  |  | $ | 21 |  |  | $ | 15 |
The following table shows the total costs currently expected to be incurred by reportable segment and Corporate and Other related to Reimagine25:
| Total amount expected to be incurred |  | Amount incurred to date |  | Total amount remaining to be incurred
Franchise Group | $ | 3 |  |  | $ | 3 |  |  | $ | — |
Owned Brokerage Group | 20 |  |  | 8 |  |  | 12 |
Title Group | 3 |  |  | 1 |  |  | 2 |
Corporate and Other | 10 |  |  | 9 |  |  | 1 |
Total | $ | 36 |  |  | $ | 21 |  |  | $ | 15 |
Prior Restructuring Plans The Company has prior restructuring plans related to previous operational efficiency initiatives and transformation of the Company's corporate headquarters. At December 31, 2024, the remaining liability related to prior restructuring plans was $17 million. During the six months ended June 30, 2025, the Company incurred $5 million of costs and paid or settled $14 million of costs resulting in a remaining accrual of $8 million at June 30, 2025.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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