Segment Information (Tables)

3 Months Ended

Mar. 31, 2020


	Revenues (a) (b)
	Three Months Ended March 31,
	2020		2019
Realogy Franchise Group	$	168	$	179
Realogy Brokerage Group	869		816
Realogy Title Group	137		114
Corporate and Other (c)	(58)		(55)
Total Company	$	1,116	$	1,054

_______________

(a)Transactions between segments are eliminated in consolidation. Revenues for the Realogy Franchise Group include intercompany royalties and marketing fees paid by Realogy Brokerage Group of $58 million and $55 million for the three months ended March 31, 2020 and 2019, respectively. Such amounts are eliminated through the Corporate and Other line.

(b)Revenues for Realogy Franchise Group include intercompany referral commissions related to Realogy Advantage Broker Network paid by Realogy Brokerage Group of $2 million and $3 million for the three months ended March 31, 2020 and 2019, respectively. Such amounts are recorded as contra-revenues by Realogy Brokerage Group. There are no other material intersegment transactions.

(c)Includes the elimination of transactions between segments.

Operating EBITDA


	Operating EBITDA
	Three Months Ended March 31,
	2020		2019
Realogy Franchise Group	$	101	$	98
Realogy Brokerage Group	(51)		(62)
Realogy Title Group	12		(9)
Corporate and Other (a)	(25)		(25)
Total continuing operations	37		2

Less: Depreciation and amortization	45		41
Interest expense, net	101		63
Income tax benefit	(132)		(32)
Restructuring costs, net (b)	11		9
Impairments (c)	447		1
Loss on the early extinguishment of debt (d)	—		5
Net loss from continuing operations	(435)		(85)
Net loss from discontinued operations	(27)		(14)
Net loss attributable to Realogy Holdings and Realogy Group	$	(462)	$	(99)

_______________

(a)Includes the elimination of transactions between segments.

(b)The three months ended March 31, 2020 includes restructuring charges of $1 million at Realogy Franchise Group, $9 million at Realogy Brokerage Group and $1 million at Realogy Title Group.

The three months ended March 31, 2019 includes restructuring charges of $4 million at Realogy Brokerage Group, $1 million at Realogy Title Group and $4 million at Corporate and Other.

(c)Impairments for the three months ended March 31, 2020 include a goodwill impairment charge of $413 million which reduced the net carrying value of Realogy Brokerage Group by $314 million after accounting for the related income tax benefit of $99 million, an impairment charge of $30 million which reduced the carrying value of trademarks at Realogy Franchise Group and $4 million related to lease asset impairments. Impairments for the three months ended March 31, 2019 include $1 million of impairment charges related to lease asset impairments.

(d)Loss on the early extinguishment of debt is recorded in Corporate and Other.