Segment Information

6 Months Ended

Jun. 30, 2013

Segment Information

Segment Information

17.  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.

The heading Other includes certain income and expenses not allocated to the three reportable segments and intersegment eliminations.  The operations of the Mortgage Production and Mortgage Servicing segments are located in the U.S, and the operations of the Fleet Management Services segment are located in the U.S. and Canada.

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:

	Total Assets
	June 30,		December 31,
	2013		2012
	(In millions)
Mortgage Production segment	$	2,126	$	2,587
Mortgage Servicing segment	2,158		1,791
Fleet Management Services segment	4,629		4,502
Other	858		723
Total	$	9,771	$	9,603

	Net Revenues
	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
	(In millions)
Mortgage Production segment	$	265	$	276	$	517	$	572
Mortgage Servicing segment	150		(118)		235		(37)
Fleet Management Services segment	407		401		801		802
Other	—		—		(1)		(1)
Total	$	822	$	559	$	1,552	$	1,336

	Segment Profit (Loss)(1)
	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
	(In millions)
Mortgage Production segment	$	44	$	78	$	89	$	195
Mortgage Servicing segment	81		(196)		99		(222)
Fleet Management Services segment	21		22		42		46
Other	—		1		—		—
Total	$	146	$	(95)	$	230	$	19

(1) The following is a reconciliation of Income (loss) before income taxes to segment profit (loss):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
	(In millions)
Income (loss) before income taxes	$	158	$	(80)	$	254	$	44
Less: net income attributable to noncontrolling interest	12		15		24		25
Segment profit (loss)	$	146	$	(95)	$	230	$	19