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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities    
Net loss $ (462) $ (99)
Net loss from discontinued operations 27 14
Net loss from continuing operations (435) (85)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 45 41 [1]
Deferred income taxes (128) (34)
Impairments [2] 447 1
Amortization of deferred financing costs and debt discount 2 3
Loss on the early extinguishment of debt 0 5
Equity in earnings of unconsolidated entities (9) (1)
Stock-based compensation 6 7
Mark-to-market adjustments on derivatives 51 14
Net change in assets and liabilities, excluding the impact of acquisitions and dispositions:    
Trade receivables (24) (16)
Other assets (24) (16)
Accounts payable, accrued expenses and other liabilities (15) (12)
Dividends received from unconsolidated entities 1 1
Other, net (4) (1)
Net Cash Provided by (Used in) Operating Activities, Continuing Operations, Total (87) (93)
Net cash provided by (used in) operating activities from discontinued operations 5 (10)
Net Cash Provided by (Used in) Operating Activities, Total (82) (103)
Investing Activities    
Property and equipment additions (24) (22)
Payments for acquisitions, net of cash acquired (1) 0
Investment in unconsolidated entities (1) (2)
Other, net (8) 3
Net cash used in investing activities from continuing operations (34) (21)
Net cash used in investing activities from discontinued operations (5) (2)
Net cash used in investing activities (39) (23)
Financing Activities    
Net change in Revolving Credit Facility 565 140
Proceeds from issuance of Senior Notes 0 550
Repayments of Unsecured Debt 0 (450)
Amortization payments on term loan facilities (7) (7)
Debt issuance costs 0 (7)
Cash paid for fees associated with early extinguishment of debt 0 (4)
Repurchase of common stock 0 (20)
Dividends paid on common stock 0 (10)
Taxes paid related to net share settlement for stock-based compensation (4) (6)
Payments of contingent consideration related to acquisitions 0 (2)
Other, net (8) (7)
Net cash provided by financing activities from continuing operations 546 177
Net cash used in financing activities from discontinued operations (46) (43)
Net cash provided by financing activities 500 134
Effect of changes in exchange rates on cash, cash equivalents and restricted cash (1) 0
Net increase in cash, cash equivalents and restricted cash 378 8
Cash, cash equivalents and restricted cash, beginning of period 266 238
Cash, cash equivalents and restricted cash, end of period 644 246
Less cash, cash equivalents and restricted cash of discontinued operations, end of period 16 25
Cash, cash equivalents and restricted cash of continuing operations, end of period 628 221
Supplemental Disclosure of Cash Flow Information    
Interest payments for continuing operations 18 37
Income tax payments for continuing operations, net $ 0 $ 1
[1] Includes the elimination of transactions between segments.
[2] 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.