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Condensed Consolidated Statements of Financial Position - USD ($)
$ in Millions
Jun. 30, 2022
Dec. 31, 2021
Current Assets:    
Cash and cash equivalents $ 269 $ 262
Receivables, less allowance of $3 and $2, respectively 6 7
Contract asset 12  
Prepaid expenses and other assets 24 25
Total Current Assets 310 295
Other Assets:    
Property and equipment, net 66 66
Goodwill 512 512
Intangible assets, net 155 159
Operating lease right-of-use assets 10 17
Deferred customer acquisition costs 18 16
Other assets 4 5
Total Assets 1,076 1,069
Current Liabilities:    
Accounts payable 96 66
Accrued liabilities:    
Payroll and related expenses 18 24
Home service plan claims 124 88
Other 23 28
Deferred revenue 126 155
Current portion of long-term debt 17 17
Total Current Liabilities 404 378
Long-Term Debt 600 608
Other Long-Term Liabilities:    
Deferred taxes 40 41
Operating lease liabilities 17 19
Other long-term obligations 9 21
Total Other Long-Term Liabilities 66 81
Commitments and Contingencies (Note 7)
Shareholders' Equity:    
Common stock, $0.01 par value; 2,000,000,000 shares authorized; 86,048,827 shares issued and 81,487,995 shares outstanding at June 30, 2022 and 85,798,765 shares issued and 83,232,481 shares outstanding as of December 31, 2021 1 1
Additional paid-in capital 80 70
Retained earnings 88 53
Accumulated other comprehensive loss (1) (18)
Less common stock held in treasury, at cost; 4,560,823 shares at June 30, 2022 and 2,566,284 shares as of December 31, 2021 (162) (103)
Total Equity 6 2
Total Liabilities and Shareholders' Equity $ 1,076 $ 1,069