XML 56 R21.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Segment Information
 6 Months Ended
Jun. 30, 2011
Segment Information [Abstract]  
Segment Information
14. Segment Information
Operations are conducted through three business segments: Mortgage Production, Mortgage Servicing and Fleet Management Services.
  •  
Mortgage Production — provides mortgage loan origination services and sells mortgage loans.
 
  •  
Mortgage Servicing — performs servicing activities for originated and purchased loans.
 
  •  
Fleet Management Services — provides commercial fleet management services.
Certain income and expenses not allocated to the three reportable segments and intersegment eliminations are reported under the heading Other. The Company’s operations are substantially located in the U.S.
Management evaluates the operating results of each of the reportable segments based upon Net revenues and segment profit or loss, which is presented as the income or loss before income tax expense or benefit and after net income or loss attributable to noncontrolling interest. The Mortgage Production segment profit or loss excludes Realogy Corporation’s noncontrolling interest in the profit or loss of PHH Home Loans.
Segment results were as follows:
                                 
    Net Revenues
    Three Months   Six Months
    Ended June 30,   Ended June 30,
    2011     2010     2011     2010  
    (In millions)  
Mortgage Production segment(1)
  $ 169     $ 202     $ 383     $ 354  
Mortgage Servicing segment
    (58 )     (238 )     (1 )     (202 )
Fleet Management Services segment
    406       407       801       797  
 
                       
Total reportable segments
    517       371       1,183       949  
Other
    (1 )     —       (2 )     (1 )
 
                       
Total
  $ 516     $ 371     $ 1,181     $ 948  
 
                       
                                 
    Segment Profit (Loss) (2)
    Three Months   Six Months
    Ended June 30,   Ended June 30,
    2011     2010     2011     2010  
    (In millions)  
Mortgage Production segment(1)
  $ 25     $ 49     $ 77     $ 74  
Mortgage Servicing segment
    (113 )     (284 )     (99 )     (297 )
Fleet Management Services segment
    19       13       35       21  
 
                       
Total reportable segments
    (69 )     (222 )     13       (202 )
Other
    (1 )     —       (1 )     (1 )
 
                       
Total
  $ (70 )   $ (222 )   $ 12     $ (203 )
 
                       
                 
    Total Assets  
    As of     As of  
    June 30,     December 31,  
    2011     2010  
    (In millions)  
Mortgage Production segment
  $ 1,990     $ 4,605  
Mortgage Servicing segment
    2,291       2,291  
Fleet Management Services segment
    4,333       4,216  
Other
    135       158  
 
           
Total Company
  $ 8,749     $ 11,270  
 
           
 
(1)  
For the six months ended June 30, 2011, Net revenues and segment profit for the Mortgage Production segment includes a $68 million gain on the 50.1% sale of the equity interests in the Company’s appraisal services business.
 
(2)  
The following is a reconciliation of (Loss) income before income taxes to segment profit (loss):
                                 
    Three Months   Six Months
    Ended June 30,   Ended June 30,
    2011     2010     2011     2010  
    (In millions)  
(Loss) income before income taxes
  $ (66 )   $ (215 )   $ 19     $ (196 )
Less: net income attributable to noncontrolling interest
    4       7       7       7  
 
                       
Segment profit (loss)
  $ (70 )   $ (222 )   $ 12     $ (203 )