Schedule of deferred revenue for franchise sales and annual dues

The activity consists of the following (in thousands):


	Balance at				Revenue		Balance at
	January 1, 2023		New billings		recognized ^(a)		December 31, 2023
Franchise sales	$	25,281	$	8,061	$	(8,729)	$	24,613
Annual dues		14,164		33,022		(33,904)		13,282
Other		6,626		18,154		(21,991)		2,789
	$	46,071	$	59,237	$	(64,624)	$	40,684

(a)	Revenue recognized related to the beginning balance for Franchise Sales and Annual Dues was $7.9 million and $13.4 million, respectfully, for the year ended December 31, 2023.

Schedule of disaggregated revenue

In the following table, segment revenue is disaggregated by geographical area (in thousands):


	Year Ended
	December 31,
	2023		2022		2021
U.S. Company-Owned Regions ^(a)	$	138,499	$	157,492	$	154,981
U.S. Independent Regions ^(a)		6,439		7,086		11,392
Canada Company-Owned Regions ^(a)		40,805		42,289		27,234
Canada Independent Regions ^(a)		2,891		2,857		6,510
Global		12,754		12,163		11,501
Fee revenue ^(b)		201,388		221,887		211,618
Franchise sales and other revenue ^(c)		25,794		27,385		23,506
Total Real Estate		227,182		249,272		235,124
U.S. ^(a)		63,791		69,169		68,662
Canada ^(a)		19,039		19,993		12,722
Global		1,031		1,157		1,007
Total Marketing Funds		83,861		90,319		82,391
Mortgage ^(d)		13,993		12,388		10,051
Other ^(d)		635		1,407		2,135
Total	$	325,671	$	353,386	$	329,701

(a)

On July 21, 2021, the Company acquired INTEGRA. Fee revenue from these regions was previously recognized in the U.S. and Canada Independent Regions and Marketing Funds fees were not charged by the Company. See Note 6, Acquisitions and Dispositions, for more information related to this transaction.

(b)	Fee revenue includes Continuing franchise fees, Annual dues and Broker fees.

(c)	Franchise sales and other revenue is derived primarily within the U.S.

(d)	Revenue from Mortgage and Other are derived exclusively within the U.S.

Schedule of reconciliation of cash, both unrestricted and restricted

The following table reconciles the amounts presented for cash, both unrestricted and restricted, in the Consolidated Balance Sheets to the amounts presented in the Consolidated Statements of Cash Flows (in thousands):


	As of December 31,
	2023		2022
Cash and cash equivalents	$	82,623	$	108,663
Restricted cash:
Marketing Funds ^(a)		15,640		29,465
Settlement Fund ^(b)		27,500		—
Total cash, cash equivalents and restricted cash	$	125,763	$	138,128

(a)	All cash held by the Marketing Funds is contractually restricted, pursuant to the applicable franchise agreements.

(b)	Represents the net amounts held in the Settlement Fund as part of the settlement of the industry class-action lawsuits. See Note 14, Commitments and Contingencies, for additional information.

Schedule of allowances against accounts and notes receivable

The activity in the Company’s allowances against accounts and notes receivable consists of the following (in thousands):


	Balance at beginning of period		Charges/(benefits) to expense for changes in Allowance for doubtful accounts^(a)		Write-offs		Balance at end of period
Year Ended December 31, 2023	$	9,111	$	6,784	$	(4,995)	$	10,900
Year Ended December 31, 2022	$	9,564	$	2,581	$	(3,034)	$	9,111
Year Ended December 31, 2021	$	11,724	$	(1,345)	$	(815)	$	9,564

(a)	Includes approximately $1.8 million, $0.4 million and ($0.4) million of expense/(benefit) attributable to the Marketing Funds for the years ended December 31, 2023, 2022 and 2021, respectively.