View Filing Data

Commission and other agent-related costs

^[1],[2]

$ 1,207

$ 1,664

$ 2,323

$ 2,718

Expenses

685

955

1,315

1,530

Operating

286

343

611

673

Marketing

137

General and administrative

133

148

Depreciation and amortization

^[3],[4]

Impairments

^[5]

454

Interest expense, net

160

143

Loss on the early extinguishment of debt

^[6]

Total expenses

1,204

1,569

2,896

2,741

Income (loss) from continuing operations before income taxes, equity in earnings and noncontrolling interests

(573)

(23)

Income tax expense (benefit) from continuing operations

(121)

Equity in earnings of unconsolidated entities

(Loss) income from discontinued operations, net of tax

(407)

(16)

(9)

(14)

(13)

Estimated loss on the sale of discontinued operations, net of tax

(32)

(54)

Net Income (Loss) Attributable to Noncontrolling Interest

(41)

(68)

(13)

Net (loss) income

(13)

(475)

(29)

Net (loss) income attributable to Realogy Holdings and Realogy Group

$ (14)

$ 69

$ (476)

$ (30)

Basic earnings (loss) per share from continuing operations

$ 0.23

$ 0.59

$ (3.55)

$ (0.15)

Basic (loss) earnings per share from discontinued operations

(0.35)

0.01

(0.59)

(0.11)

Basic (loss) earnings per share

(0.12)

0.60

(4.14)

(0.26)

Diluted earnings (loss) per share from continuing operations

0.23

0.59

(3.55)

(0.15)

Diluted (loss) earnings per share from discontinued operations

(0.35)

0.01

(0.59)

(0.11)

Diluted (loss) earnings per share

$ (0.12)

$ 0.60

$ (4.14)

$ (0.26)

Basic

115.4

114.3

115.0

114.1

Diluted

116.2

114.9

115.0

114.1

Income (loss) from continuing operations before income taxes, equity in earnings and noncontrolling interests

$ 3

$ 95

$ (573)

$ (23)

Income tax expense (benefit) from continuing operations

(121)

Equity in earnings of unconsolidated entities

(Loss) income from discontinued operations, net of tax

(407)

(16)

(9)

(14)

(13)

Estimated loss on the sale of discontinued operations, net of tax

(32)

(54)

Less: Net income attributable to noncontrolling interests

(41)

(68)

(13)

Net (loss) income

(13)

(475)

(29)

(1)

Net (loss) income attributable to Realogy Holdings and Realogy Group

$ (14)

$ 69

$ (476)

$ (30)

Basic (loss) earnings per share attributable to Realogy Holdings shareholders:

Basic earnings (loss) per share from continuing operations

$ 0.23

$ 0.59

$ (3.55)

$ (0.15)

Basic (loss) earnings per share from discontinued operations

(0.35)

0.01

(0.59)

(0.11)

Basic (loss) earnings per share

(0.12)

0.60

(4.14)

(0.26)

Diluted earnings (loss) per share from continuing operations

0.23

0.59

(3.55)

(0.15)

Diluted (loss) earnings per share from discontinued operations

(0.35)

0.01

(0.59)

(0.11)

Diluted (loss) earnings per share

$ (0.12)

$ 0.60

$ (4.14)

$ (0.26)

Weighted average common and common equivalent shares of Realogy Holdings outstanding:

Basic

115.4

114.3

115.0

114.1

Diluted

116.2

114.9

115.0

114.1

Gross commission income

^[7]

$ 919

$ 1,310

$ 1,769

$ 2,109

Service revenue

^[8]

172

183

323

312

Franchise fees

^[9]

112

156

182

Other

Net loss from discontinued operations

^[10]

$ 31

$ 59

$ 75

$ 115

[1]	Revenues for Realogy Franchise Group include intercompany referral commissions related to Realogy Advantage Broker Network paid by Realogy Brokerage Group of $3 million and $5 million for the three and six months ended June 30, 2020, respectively, and $5 million and $8 million for the three and six months ended June 30, 2019, respectively. Such amounts are recorded as contra-revenues by Realogy Brokerage Group. There are no other material intersegment transactions.
[2]	Transactions between segments are eliminated in consolidation. Revenues for the Realogy Franchise Group include intercompany royalties and marketing fees paid by Realogy Brokerage Group of $65 million and $123 million for the three and six months ended June 30, 2020, respectively, and $87 million and $142 million for the three and six months ended June 30, 2019, respectively. Such amounts are eliminated through the Corporate and Other line.
[3]	The three months ended June 30, 2020 includes restructuring charges of $12 million at Realogy Brokerage Group and $2 million at Realogy Title Group. The three months ended June 30, 2019 includes restructuring charges of $1 million at Realogy Franchise Group, $6 million at Realogy Brokerage Group, $1 million at Realogy Title Group and $1 million at Corporate and Other. The six months ended June 30, 2020 includes restructuring charges of $1 million at Realogy Franchise Group, $21 million at Realogy Brokerage Group and $3 million at Realogy Title Group. The six months ended June 30, 2019 includes restructuring charges of $1 million at Realogy Franchise Group, $10 million at Realogy Brokerage Group, $2 million at Realogy Title Group and $5 million at Corporate and Other.
[4]	Restructuring charges for the three and six months ended June 30, 2020 include $12 million and $23 million, respectively, related to the Facility and Operational Efficiencies Program and $2 million related to the Leadership Realignment and Other Restructuring Activities Program. Restructuring charges for the three and six months ended June 30, 2019 include $9 million and $15 million, respectively, related to the Facility and Operational Efficiencies Program and zero and $3 million, respectively, related to the Leadership Realignment and Other Restructuring Activities Program.
[5]	Impairments for the three months ended June 30, 2020 and for the three and six months ended June 30, 2019 relate to lease asset impairments.Impairments for the six months ended June 30, 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 $11 million related to lease asset impairments.
[6]	Loss on the early extinguishment of debt is recorded in Corporate and Other.
[7]	Consists primarily of revenues related to gross commission income at Realogy Brokerage Group, which is recognized at a point in time at the closing of a homesale transaction.
[8]	Service revenue primarily consists of title and escrow fees at Realogy Title Group, which are recognized at a point in time at the closing of a homesale transaction.
[9]	Franchise fees at Realogy Franchise Group primarily include domestic royalties which are recognized at a point in time when the underlying franchisee revenue is earned (upon close of the homesale transaction).
[10]	Other revenue is comprised of brand marketing funds received at Realogy Franchise Group from franchisees, third-party listing fees in 2019 and other miscellaneous revenues across all of the business segments.

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (13)	$ 70	$ (475)	$ (29)
Currency translation adjustment	1	(1)	(1)	0
Defined benefit pension plan—amortization of actuarial loss to periodic pension cost	0	0	1	1
Other comprehensive income (loss), before tax	1	(1)	0	1
Income tax expense (benefit) related to items of other comprehensive income amounts	0	0	0	0
Other comprehensive income (loss), net of tax	1	(1)	0	1
Comprehensive (loss) income	(12)	69	(475)	(28)
Less: comprehensive income attributable to noncontrolling interests	(1)	(1)	(1)	(1)
Comprehensive (loss) income attributable to Realogy Holdings and Realogy Group	$ (13)	$ 68	$ (476)	$ (29)

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 686	$ 235
Accounts Receivable, after Allowance for Credit Loss, Current	92	79
Accounts Receivable, Allowance for Credit Loss, Current	14	11
Other current assets	173	147
Current assets - held for sale	631	750
Total current assets	1,582	1,211
Property and equipment, net	293	308
Operating lease assets, net	491	515
Goodwill	2,887	3,300
Trademarks	643	673
Franchise agreements, net	1,126	1,160
Other intangibles, net	70	72
Other non-current assets	341	304
Total assets	7,433	7,543
Current liabilities:
Accounts payable	86	84
Current portion of long-term debt	868	234
Current portion of operating lease liabilities	121	122
Accrued expenses and other current liabilities	332	350
Current liabilities - held for sale	231	356
Total current liabilities	1,638	1,146
Long-term debt	3,175	3,211
Long-term operating lease liabilities	455	467
Deferred income taxes	249	390
Other non-current liabilities	291	233
Total liabilities	5,808	5,447
Equity:
Realogy Holdings preferred stock: $0.01 par value; 50,000,000 shares authorized, none issued and outstanding at June 30, 2020 and December 31, 2019	$ 0	$ 0
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Preferred Stock, Shares Outstanding	0	0
Realogy Holdings common stock: $0.01 par value; 400,000,000 shares authorized, 115,424,033 shares issued and outstanding at June 30, 2020 and 114,355,519 shares issued and outstanding at December 31, 2019	$ 1	$ 1
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	400,000,000	400,000,000
Common Stock, Shares, Outstanding	115,424,033	114,355,519
Additional paid-in capital	$ 4,847	$ 4,842
Accumulated deficit	(3,171)	(2,695)
Accumulated other comprehensive loss	(56)	(56)
Total stockholders' equity	1,621	2,092
Noncontrolling interests	4	4
Total equity	1,625	2,096
Total liabilities and equity	$ 7,433	$ 7,543

Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Operating Activities

Net (loss) income

$ (475)

$ (29)

Adjustments to reconcile net loss from continuing operations to net cash provided by operating activities:

(407)

(16)

Depreciation and amortization

Deferred income taxes

(117)

(2)

Impairments

^[1]

454

Amortization of deferred financing costs and debt discount

Loss on the early extinguishment of debt

Equity in earnings of unconsolidated entities

Stock-based compensation

Mark-to-market adjustments on derivatives

Other adjustments to net loss

(2)

Net change in assets and liabilities, excluding the impact of acquisitions and dispositions:

Trade receivables

(13)

(43)

Other assets

(9)

(13)

Accounts payable, accrued expenses and other liabilities

(15)

Dividends received from unconsolidated entities

Other, net

(8)

(1)

Net cash provided by operating activities from continuing operations

113

Net cash used in operating activities from discontinued operations

(2)

(57)

Net cash provided by operating activities

Investing Activities

Property and equipment additions

(41)

(50)

Payments for acquisitions, net of cash acquired

(1)

Investment in unconsolidated entities

(2)

(10)

Other, net

(11)

Net cash used in investing activities from continuing operations

(55)

(58)

Net cash used in investing activities from discontinued operations

(8)

(4)

Net cash used in investing activities

(63)

(62)

Financing Activities

Net change in Revolving Credit Facility

625

Proceeds from issuance of Senior Secured Second Lien Notes

550

Proceeds from issuance of Senior Notes

550

Redemption of Senior Notes

(550)

(450)

Amortization payments on term loan facilities

(19)

(15)

Debt issuance costs

(8)

(9)

Cash paid for fees associated with early extinguishment of debt

(7)

(4)

Repurchase of common stock

(20)

Dividends paid on common stock

(21)

(5)

(6)

Payments of contingent consideration related to acquisitions

(2)

Other, net

(15)

(13)

Net cash provided by financing activities from continuing operations

571

Net cash used in financing activities from discontinued operations

(103)

(24)

Net cash provided by financing activities

468

Effect of changes in exchange rates on cash, cash equivalents and restricted cash

Net increase in cash, cash equivalents and restricted cash

438

Cash, cash equivalents and restricted cash, beginning of period

266

238

Cash, cash equivalents and restricted cash, end of period

704

278

Less cash, cash equivalents and restricted cash of discontinued operations, end of period

Cash, cash equivalents and restricted cash of continuing operations, end of period

686

260

Supplemental Disclosure of Cash Flow Information

Interest payments for continuing operations

102

Income tax payments for continuing operations, net

$ 0

$ 6

[1]

Impairments for the three months ended June 30, 2020 and for the three and six months ended June 30, 2019 relate to lease asset impairments.Impairments for the six months ended June 30, 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 $11 million related to lease asset impairments.

Equity Stock Repurchases - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Feb. 22, 2019	Feb. 26, 2018	Feb. 23, 2017	Feb. 24, 2016
Stock Repurchases [Line Items]
Shares Repurchased and Retired During Period, Shares	1.2
Shares Repurchased and Retired During Period, Value	$ 20
Weighted Average Market Price of Shares Repurchased and Retired During Period	$ 17.21
Maximum \| 2016 Stock Repurchase Plan
Stock Repurchases [Line Items]
Shares Authorized under Stock Repurchase Program,					$ 275
Maximum \| 2017 Stock Repurchase Plan
Stock Repurchases [Line Items]
Shares Authorized under Stock Repurchase Program,				$ 300
Maximum \| 2018 Stock Repurchase Plan
Stock Repurchases [Line Items]
Shares Authorized under Stock Repurchase Program,			$ 350
Maximum \| 2019 Stock Repurchase Plan
Stock Repurchases [Line Items]
Shares Authorized under Stock Repurchase Program,		$ 175

Basis Of Presentation

6 Months Ended

Jun. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis Of Presentation

BASIS OF PRESENTATION

Realogy Holdings Corp. ("Realogy Holdings", "Realogy" or the "Company") is a holding company for its consolidated subsidiaries including Realogy Intermediate Holdings LLC ("Realogy Intermediate") and Realogy Group LLC ("Realogy Group") and its consolidated subsidiaries. Realogy, through its subsidiaries, is a global provider of residential real estate services. Neither Realogy Holdings, the indirect parent of Realogy Group, nor Realogy Intermediate, the direct parent company of Realogy Group, conducts any operations other than with respect to its respective direct or indirect ownership of Realogy Group. As a result, the consolidated financial positions, results of operations, comprehensive income and cash flows of Realogy Holdings, Realogy Intermediate and Realogy Group are the same.

The accompanying Condensed Consolidated Financial Statements include the financial statements of Realogy Holdings and Realogy Group. Realogy Holdings' only asset is its investment in the common stock of Realogy Intermediate, and Realogy Intermediate's only asset is its investment in Realogy Group. Realogy Holdings' only obligations are its guarantees of certain borrowings and certain franchise obligations of Realogy Group. All expenses incurred by Realogy Holdings and Realogy Intermediate are for the benefit of Realogy Group and have been reflected in Realogy Group's Condensed Consolidated Financial Statements.

The Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America and with Article 10 of Regulation S-X. Interim results may not be indicative of full year performance because of seasonal and short-term variations. The Company has eliminated all material intercompany transactions and balances between entities consolidated in these financial statements. In presenting the Condensed Consolidated Financial Statements, management makes estimates and assumptions that affect the amounts reported and the related disclosures. Estimates, by their nature, are based on judgment and available information. Accordingly, actual results could differ materially from those estimates.

In management's opinion, the accompanying unaudited Condensed Consolidated Financial Statements reflect all normal and recurring adjustments necessary for a fair statement of Realogy Holdings and Realogy Group's financial position as of June 30, 2020 and the results of operations and comprehensive (loss) income for the three and six months ended June 30, 2020 and 2019 and cash flows for the six months ended June 30, 2020 and 2019. The Consolidated Balance Sheet at December 31, 2019 was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. The Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and notes thereto included in the Annual Report on Form 10-K for the year ended December 31, 2019.

COVID-19

The COVID-19 pandemic continues to have a profound effect on the global economy and financial markets, creating considerable risks and uncertainties for almost all sectors, including the U.S. real estate services industry, as well as for the Company and its affiliated franchisees. Among other things, the crisis has created risks and uncertainties arising from the adverse effects on the economy as well as risks related to employees, independent sales agents, franchisees, and consumers.

In mid-March 2020, we began taking a series of proactive cost-saving measures in reaction to the evolving crisis, including salary reductions, furloughs and reductions in spending which resulted in substantial cost-savings in the second quarter of 2020. Many of these cost-saving measures were or are temporary in nature and have been or will continue to be assessed and adjusted on an ongoing basis based upon the volume of homesale transactions and business needs.

See Note 3, "Goodwill and Intangible Assets", to the Condensed Consolidated Financial Statements for additional information on goodwill and intangible asset impairment charges recorded in the first quarter of 2020 due to the impact on future earnings related to the COVID-19 pandemic which qualified as a triggering event for all of our reporting units as of March 31, 2020, Note 5, "Short and Long-Term Debt", to the Condensed Consolidated Financial Statements for additional information on our short- and long-term debt, and Note 11, "Subsequent Events", to the Condensed Consolidated Financial Statements for information on recent amendments to the Senior Secured Credit Agreement and Term Loan A Agreement.

Fair Value Measurements

The following tables present the Company’s assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value.


Level Input:						Input Definitions:

Level I						Inputs are unadjusted, quoted prices for identical assets or liabilities in active markets at the measurement date.

Level II						Inputs other than quoted prices included in Level I that are observable for the asset or liability through corroboration with market data at the measurement date.

Level III						Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date.

The availability of observable inputs can vary from asset to asset and is affected by a wide variety of factors, including, for example, the type of asset, whether the asset is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level III. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

The fair value of financial instruments is generally determined by reference to quoted market values. In cases where quoted market prices are not available, fair value is based on estimates using present value or other valuation techniques, as appropriate. The fair value of interest rate swaps is determined based upon a discounted cash flow approach.

The Company measures financial instruments at fair value on a recurring basis and recognizes transfers within the fair value hierarchy at the end of the fiscal quarter in which the change in circumstances that caused the transfer occurred.

The following table summarizes fair value measurements by level at June 30, 2020 for assets and liabilities measured at fair value on a recurring basis:


	Level I		Level II		Level III		Total
Deferred compensation plan assets (included in other non-current assets)	$	1	$	—	$	—	$	1
Interest rate swaps (included in other current and non-current liabilities)	—		99		—		99
Contingent consideration for acquisitions (included in accrued expenses and other current liabilities and other non-current liabilities)	—		—		5		5

The following table summarizes fair value measurements by level at December 31, 2019 for assets and liabilities measured at fair value on a recurring basis:


	Level I		Level II		Level III		Total
Deferred compensation plan assets (included in other non-current assets)	$	2	$	—	$	—	$	2
Interest rate swaps (included in other current and non-current liabilities)	—		47		—		47
Contingent consideration for acquisitions (included in accrued expenses and other current liabilities and other non-current liabilities)	—		—		4		4

The fair value of the Company’s contingent consideration for acquisitions is measured using a probability weighted-average discount rate to estimate future cash flows based upon the likelihood of achieving future operating results for individual acquisitions. These assumptions are deemed to be unobservable inputs and as such the Company’s contingent consideration is classified within Level III of the valuation hierarchy. The Company reassesses the fair value of the contingent consideration liabilities on a quarterly basis.

The following table presents changes in Level III financial liabilities measured at fair value on a recurring basis:


	Level III
Fair value of contingent consideration at December 31, 2019	$	4
Additions: contingent consideration related to acquisitions completed during the period	1
Reductions: payments of contingent consideration	—
Changes in fair value (reflected in general and administrative expenses)	—
Fair value of contingent consideration at June 30, 2020	$	5

The following table summarizes the principal amount of the Company’s indebtedness compared to the estimated fair value, primarily determined by quoted market values, at:


	June 30, 2020						December 31, 2019
Debt	Principal Amount		Estimated Fair Value (a)		Principal Amount		Estimated Fair Value (a)
Senior Secured Credit Facility:
Revolving Credit Facility	$	815	$	815	$	190	$	190
Term Loan B	1,053		963		1,058		1,048
Term Loan A Facility:
Term Loan A	703		650		717		705
7.625% Senior Secured Second Lien Notes	550		549		—		—
5.25% Senior Notes	—		—		550		557
4.875% Senior Notes	407		383		407		401
9.375% Senior Notes	550		513		550		572

_______________

(a)The fair value of the Company's indebtedness is categorized as Level II.

Equity Method Investments

At June 30, 2020 and December 31, 2019, the Company had various equity method investments which are recorded within other non-current assets on the accompanying Condensed Consolidated Balance Sheets.

The Company's investment in Guaranteed Rate Affinity, LLC ("Guaranteed Rate Affinity") at Realogy Title Group had investment balances at June 30, 2020 and December 31, 2019 of $84 million and $60 million, respectively. For the three months ended June 30, 2020 and 2019, the Company recorded equity earnings of $35 million and $6 million, respectively, related to earnings from its investment in Guaranteed Rate Affinity. For the six months ended June 30, 2020 and 2019, the Company recorded equity earnings of $44 million and $7 million, respectively, related to earnings from its investment in Guaranteed Rate Affinity. The Company received $20 million in cash dividends from Guaranteed Rate Affinity during the six months ended June 30, 2020 and no cash dividends during the six months ended June 30, 2019. The Company invested $2 million of cash into Guaranteed Rate Affinity during the six months ended June 30, 2019.

The Company's other equity method investments at Realogy Title Group had investment balances at June 30, 2020 and December 31, 2019 totaling $8 million and $9 million, respectively. The Company recorded equity earnings from the operations of these equity method investments of $1 million in each period during both the three and six months ended June 30, 2020 and 2019. The Company received $2 million and $1 million in cash dividends from other equity method investments during the six months ended June 30, 2020 and 2019, respectively.

Income Taxes

The provision for income taxes was an expense of $11 million and $33 million for the three months ended June 30, 2020 and 2019, respectively, and a benefit of $121 million and an expense of $1 million for the six months ended June 30, 2020 and 2019, respectively.

Derivative Instruments

The Company records derivatives and hedging activities on the balance sheet at their respective fair values. The Company enters into interest rate swaps to manage its exposure to changes in interest rates associated with its variable rate borrowings. As of June 30, 2020, the Company had interest rate swaps with an aggregate notional value of $1,600 million to offset the variability in cash flows resulting from the term loan facilities as follows:

Notional Value (in millions)

Commencement Date

Expiration Date

$600

August 2015

August 2020

(a)

$450

November 2017

November 2022

$400

August 2020

(a)

August 2025

$150

November 2022

November 2027

_______________

(a)Interest rate swaps with a notional value of $600 million expire on August 7, 2020, and interest rate swaps with a notional value of $400 million commence on August 14, 2020.

The swaps help to protect our outstanding variable rate borrowings from future interest rate volatility. The Company has not elected to utilize hedge accounting for these interest rate swaps; therefore, any change in fair value is recorded in the Condensed Consolidated Statements of Operations.

The fair value of derivative instruments was as follows:

Not Designated as Hedging Instruments

Balance Sheet Location

June 30, 2020

December 31, 2019

Interest rate swap contracts

Other current and non-current liabilities

The effect of derivative instruments on earnings was as follows:


Derivative Instruments Not Designated as Hedging Instruments	Location of Loss Recognized for Derivative Instruments	Loss Recognized on Derivatives
							Three Months Ended June 30,							Six Months Ended June 30,
						2020			2019			2020	2019
Interest rate swap contracts	Interest expense	$	8	$	24		$	59		$	38

Revenue

Revenue is recognized upon the transfer of control of promised services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those services in accordance with the revenue standard. The Company's revenue is disaggregated by major revenue categories on our Condensed Consolidated Statements of Operations and further disaggregated by business segment as follows:


	Three Months Ended June 30,
	Realogy Franchise Group						Realogy Brokerage Group						Realogy Title Group						Corporate and Other		Total Company
	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
Gross commission income (a)	$	—	$	—	$	919	$	1,310	$	—	$	—	$	—	$	—	$	919	$	1,310
Service revenue (b)	14		26		4		3		154		154		—		—		172		183
Franchise fees (c)	148		196		—		—		—		—		(63)		(84)		85		112
Other (d)	17		38		10		18		6		6		(2)		(3)		31		59
Net revenues	$	179	$	260	$	933	$	1,331	$	160	$	160	$	(65)	$	(87)	$	1,207	$	1,664


	Six Months Ended June 30,
	Realogy Franchise Group						Realogy Brokerage Group						Realogy Title Group						Corporate and Other		Total Company
	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
Gross commission income (a)	$	—	$	—	$	1,769	$	2,109	$	—	$	—	$	—	$	—	$	1,769	$	2,109
Service revenue (b)	27		42		9		5		287		265		—		—		323		312
Franchise fees (c)	275		319		—		—		—		—		(119)		(137)		156		182
Other (d)	45		78		24		33		10		9		(4)		(5)		75		115
Net revenues	$	347	$	439	$	1,802	$	2,147	$	297	$	274	$	(123)	$	(142)	$	2,323	$	2,718

______________

(a)Consists primarily of revenues related to gross commission income at Realogy Brokerage Group, which is recognized at a point in time at the closing of a homesale transaction.

(b)Service revenue primarily consists of title and escrow fees at Realogy Title Group, which are recognized at a point in time at the closing of a homesale transaction.

(c)Franchise fees at Realogy Franchise Group primarily include domestic royalties which are recognized at a point in time when the underlying franchisee revenue is earned (upon close of the homesale transaction).

(d)Other revenue is comprised of brand marketing funds received at Realogy Franchise Group from franchisees, third-party listing fees in 2019 and other miscellaneous revenues across all of the business segments.

The following table shows the change in the Company's contract liabilities (deferred revenue) related to revenue contracts by reportable segment for the period:


	Beginning Balance at January 1, 2020		Additions during the period		Recognized as Revenue during the period		Ending Balance at June 30, 2020
Realogy Franchise Group:
Deferred area development fees (a)	$	48	$	—	$	(5)	$	43
Deferred brand marketing fund fees (b)	13		22		(32)		3
Other deferred income related to revenue contracts	11		14		(14)		11
Total Realogy Franchise Group	72		36		(51)		57
Realogy Brokerage Group:
Advanced commissions related to development business (c)	9		2		(2)		9
Other deferred income related to revenue contracts	4		1		(2)		3
Total Realogy Brokerage Group	13		3		(4)		12
Total	$	85	$	39	$	(55)	$	69

_______________

(a)The Company collects initial area development fees ("ADF") for international territory transactions, which are recorded as deferred revenue when received and recognized into franchise revenue over the average 25 year life of the related franchise agreement as consideration for the right to access and benefit from Realogy’s brands. In the event an ADF agreement is terminated prior to the end of its term, the unamortized deferred revenue balance will be recognized into revenue immediately upon termination.

(b)Revenues recognized include intercompany marketing fees paid by Realogy Brokerage Group.

(c)New development closings generally have a development period of between 18 and 24 months from contracted date to closing.

Allowance for Doubtful Accounts

The Company estimates the allowance necessary to provide for uncollectible accounts receivable. The estimate is based on historical experience, combined with a review of current conditions and forecasts of future losses, and includes specific accounts for which payment has become unlikely. The process by which the Company calculates the allowance begins in the individual business units where specific problem accounts are identified and reserved primarily based upon the age profile of the receivables and specific payment issues, combined with reasonable and supportable forecasts of future losses.

Supplemental Cash Flow Information

Significant non-cash transactions during the six months ended June 30, 2020 and 2019 included finance lease additions of $7 million and $9 million, respectively, which resulted in non-cash additions to property and equipment, net and other non-current liabilities.

Leases

Other than the Company's facility closures as described in Note 6, "Restructuring Costs," the Company's lease obligations as of June 30, 2020 have not changed materially from the amounts reported in our 2019 Form 10-K.

Recently Adopted Accounting Pronouncements

The Company adopted the new accounting standard on Financial Instruments—Credit Losses (Topic 326) effective January 1, 2020. The new standard amends the guidance for measuring credit losses on certain financial instruments and financial assets, including trade receivables. The standard requires that companies recognize an allowance that reflects the current estimate of credit losses expected to be incurred over the life of the financial instrument. The valuation allowance for credit losses should be recognized and measured based on historical experience, current conditions and expectations of the future. The initial adoption of this guidance did not have an impact to the Company’s Condensed Consolidated Financial Statements upon adoption on January 1, 2020.

Recently Issued Accounting Pronouncements

The Company considers the applicability and impact of all Accounting Standards Updates ("ASUs"). Recently issued standards were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial position or results of operations.

Discontinued Operations and Disposal Groups

6 Months Ended

Jun. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure

DISCONTINUED OPERATIONS

The Company entered into a Purchase and Sale Agreement on November 6, 2019 (the "Purchase Agreement"), for the acquisition of Cartus Relocation Services, the Company's global employee relocation business, by North American Van Lines, Inc. (as assignee of SIRVA Worldwide, Inc., or "SIRVA") for $375 million in cash at closing, subject to certain adjustments set forth in the Purchase Agreement, and a $25 million deferred payment after the closing of the transaction. SIRVA is a portfolio company of affiliates of Madison Dearborn Partners, LLC ("MDP"). See Note 9, "Commitments and Contingencies", to the Condensed Consolidated Financial Statements for additional information on litigation relating to the planned sale of Cartus Relocation.

The transaction under the Purchase Agreement includes all of Cartus Relocation Services, but not Realogy Leads Group. Realogy Leads Group is comprised of the Company's affinity and broker-to-broker business, as well as the broker network made up of agents and brokers from Realogy’s residential real estate brands and certain independent real estate brokers (which is referred to as the Realogy Advantage Broker Network).

In connection with the Company's signing of the Purchase Agreement during the fourth quarter of 2019, the Company met the requirements to report the operating results of the Cartus Relocation Services business as discontinued operations. Accordingly, the income (loss) related to Cartus Relocation Services is reported in "Net (loss) income from discontinued operations" on the Condensed Consolidated Statements of Operations for all periods presented. In addition, the related assets and liabilities are reported as assets and liabilities held for sale on the Condensed Consolidated Balance Sheets. The cash flows related to discontinued operations have been segregated and are included in the Condensed Consolidated Statements of Cash Flows.

The following table summarizes the operating results of discontinued operations described above and reflected within "Net (loss) income from discontinued operations" in the Company’s Condensed Consolidated Statements of Operations for each of the periods presented:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net revenues	$	48	$	71	$	100	$	131
Total expenses	61		70		119		147
(Loss) income from discontinued operations	(13)		1		(19)		(16)
Estimated loss on the sale of discontinued operations (a)	(44)		—		(74)		—
Income tax benefit from discontinued operations	(16)		—		(25)		(3)
Net (loss) income from discontinued operations	$	(41)	$	1	$	(68)	$	(13)

_______________

(a)Adjustment to record assets and liabilities held for sale at the lower of carrying value or fair value less any costs to sell based on the estimated net purchase price.

Assets and liabilities held for sale related to discontinued operations presented in the Condensed Consolidated Balance Sheets at June 30, 2020 and December 31, 2019 are as follows:


	June 30, 2020		December 31, 2019
Carrying amounts of the major classes of assets held for sale
Cash and cash equivalents	$	11	$	28
Restricted cash	7		3
Trade receivables	35		46
Relocation receivables	190		203
Other current assets	11		12
Property and equipment, net	41		36
Operating lease assets, net	24		36
Goodwill	176		176
Trademarks	76		76
Other intangibles, net	156		156
Allowance for reduction of assets held for sale (a)	(96)		(22)
Total assets classified as held for sale	$	631	$	750

Carrying amounts of the major classes of liabilities held for sale
Accounts payable	$	35	$	53
Securitization obligations	113		206
Current portion of operating lease liabilities	5		6
Accrued expenses and other current liabilities	52		62
Long-term operating lease liabilities	26		29
Total liabilities classified as held for sale	$	231	$	356

_______________

(a)Adjustment to record assets and liabilities held for sale at the lower of carrying value or fair value less any costs to sell based on the Purchase Agreement.

Securitization Obligations

Securitization Obligations in the table above are further broken out as follows:


	June 30, 2020		December 31, 2019
Securitization Obligations:
Apple Ridge Funding LLC	$	106	$	195
Cartus Financing Limited	7		11
Total Securitization Obligations	$	113	$	206

Realogy Group has secured obligations through Apple Ridge Funding LLC under a securitization program. In June 2020, Realogy Group extended the existing Apple Ridge Funding LLC securitization program until August 2020 and reduced the maximum borrowing capacity from $250 million to $200 million. As of June 30, 2020, the Company had $200 million of borrowing capacity under the Apple Ridge Funding LLC securitization program with $106 million being utilized leaving $94 million of available capacity subject to maintaining sufficient relocation related assets to collateralize the securitization obligation. In August 2020, the facility was further extended to June 2021.

Realogy Group, through a special purpose entity known as Cartus Financing Limited, has agreements providing for a £10 million revolving loan facility and a £5 million working capital facility which expires on August 31, 2020. As of June 30, 2020, there were $7 million of outstanding borrowings under the facilities leaving $12 million of available capacity subject to maintaining sufficient relocation related assets to collateralize the securitization obligation. These Cartus Financing Limited facilities are secured by the relocation assets of a U.K. government contract in this special purpose entity and are therefore classified as permitted securitization financings as defined in Realogy Group’s Senior Secured Credit Agreement and the indentures governing the Unsecured Notes and 7.625% Senior Secured Second Lien Notes.

The Apple Ridge entities and the Cartus Financing Limited entity are consolidated special purpose entities that are utilized to securitize relocation receivables and related assets. These assets are generated from advancing funds on behalf of clients of Realogy Group’s relocation business in order to facilitate the relocation of their employees. Assets of these special purpose entities are not available to pay Realogy Group’s general obligations. Under the Apple Ridge program, provided no termination or amortization event has occurred, any new receivables generated under the designated relocation management agreements are sold into the securitization program and as new eligible relocation management agreements are entered into, the new agreements are designated to the program.

The Apple Ridge program has restrictive covenants and trigger events, including performance triggers linked to the age and quality of the underlying assets, foreign obligor limits, multicurrency limits, financial reporting requirements, restrictions on mergers and change of control, any uncured breach of Realogy Group’s senior secured leverage ratio under Realogy Group’s Senior Secured Credit Facility, and cross-defaults to Realogy Group’s material indebtedness. The occurrence of a trigger event under the Apple Ridge securitization facility could restrict our ability to access new or existing funding under this facility or result in termination of the facility, either of which would adversely affect the operation of Cartus Relocation Services and the Company.

Certain of the funds that Realogy Group received from relocation receivables and related assets are required to be utilized to repay securitization obligations. These obligations are collateralized by $182 million and $200 million of underlying relocation receivables and other related relocation assets at June 30, 2020 and December 31, 2019, respectively. Substantially all relocation related assets are realized in less than twelve months from the transaction date.

Interest incurred in connection with borrowings under these facilities amounted to $1 million and $2 million for the three months ended June 30, 2020 and 2019, respectively, and $3 million and $4 million for the six months ended June 30, 2020 and 2019, respectively. These securitization obligations represent floating rate debt for which the average weighted interest rate was 3.8% and 4.4% for the six months ended June 30, 2020 and 2019, respectively.

Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure

GOODWILL AND INTANGIBLE ASSETS

Impairment of Goodwill and Other Indefinite-lived Intangible Assets

Goodwill represents the excess of acquisition costs over the fair value of the net tangible assets and identifiable intangible assets acquired in a business combination. Other indefinite-lived intangible assets primarily consist of trademarks acquired in business combinations. Goodwill and other indefinite-lived assets are not amortized, but are subject to impairment testing. The aggregate carrying values of our goodwill and other indefinite-lived intangible assets are subject to an impairment assessment annually as of October 1, or whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable. This assessment compares carrying values of the goodwill reporting units and other indefinite lived intangible assets to their respective fair values and, when appropriate, the carrying value is reduced to fair value.

In testing goodwill, the fair value of each reporting unit is estimated using the income approach, a discounted cash flow approach. For the other indefinite lived intangible assets, fair value is estimated using the relief from royalty method. Management utilizes long-term cash flow forecasts and the Company's annual operating plans adjusted for terminal value assumptions. The fair value of the Company's reporting units and other indefinite lived intangible assets are determined utilizing the best estimate of future revenues, operating expenses including commission expense, market and general economic conditions, trends in the industry, as well as assumptions that management believes marketplace participants would utilize including discount rates, cost of capital, trademark royalty rates, and long-term growth rates. The trademark royalty rate was determined by reviewing similar trademark agreements with third parties. Although management believes that assumptions are reasonable, actual results may vary significantly.

During the first quarter of 2020, the Company determined that the impact on future earnings related to the COVID-19 pandemic qualified as a triggering event for all of our reporting units and accordingly, the Company performed an impairment assessment of goodwill and other indefinite-lived intangible assets as of March 31, 2020. This assessment resulted in the recognition of an impairment of Realogy Franchise Group trademarks of $30 million and a goodwill impairment of $413 million for Realogy Brokerage Group offset by an income tax benefit of $99 million resulting in a net reduction to Realogy Brokerage Group's carrying value of $314 million. The primary drivers to the impairments were a significant increase in the weighted average cost of capital due to the volatility in the capital and debt markets due to COVID-19 and the related lower projected financial results for 2020. The impairment charges are recorded on a separate line in the accompanying Condensed Consolidated Statements of Operations and are non-cash in nature.

These impairment assessments involve the use of accounting estimates and assumptions, changes in which could materially impact our financial condition or operating performance if actual results differ from such estimates and assumptions. To address this uncertainty, a sensitivity analysis is performed on key estimates and assumptions. Under the income approach, management used key valuation assumptions in determining the fair value estimates of the Company's reporting units including a discount rate based on the Company's best estimate of the weighted average cost of capital and a long-term growth rate based on the Company's best estimate of terminal growth rates.

As a result of the COVID-19 pandemic which caused volatility in the capital and debt markets, there was a significant increase in the weighted average cost of capital used to discount the future cash flows in the impairment assessment model. The following table provides a comparison of key assumptions used in the Company's impairment assessment performed in the first quarter of 2020 compared to the prior assessment performed in the fourth quarter of 2019:


	Discount Rate			Long-term Growth Rates
	First Quarter 2020	Fourth Quarter 2019	First Quarter 2020	Fourth Quarter 2019
Realogy Franchise Group	10.0%	8.5%	2.5%	2.5%
Realogy Brokerage Group	11.0%	9.0%	2.0%	2.0%
Realogy Title Group	11.0%	9.5%	2.5%	2.5%

Given the increase in the discount rate and lower projected 2020 financial results in this impairment analysis, the estimated excess fair value over carrying value for Realogy Franchise Group and Realogy Title Group was reduced to 7% and 5%, respectively. While management believes the assumptions used in the impairment test are reasonable, a 100 basis point increase in the discount rate, holding other assumptions constant, would result in an impairment of goodwill at Realogy Franchise Group and Realogy Title Group.

There is a significant amount of future uncertainty related to the impact of the COVID-19 pandemic. In addition, significant negative industry or economic trends, disruptions to the business, unexpected significant changes or planned changes in use of the assets, a decrease in business results, growth rates that fall below management's assumptions, divestitures, and a sustained decline in the Company's stock price and market capitalization may have a negative effect on the fair values and key valuation assumptions, and such changes could result in changes to management's estimates of fair value and a material impairment of goodwill or other indefinite-lived intangible assets.

Goodwill

Goodwill by reporting unit and changes in the carrying amount are as follows:


	Realogy Franchise Group		Realogy Brokerage Group		Realogy Title Group		Total Company
Balance at December 31, 2019	$	2,476	$	669	$	155	$	3,300
Goodwill acquired	—		—		—		—
Impairment loss	—		(413)		—		(413)
Balance at June 30, 2020	$	2,476	$	256	$	155	$	2,887

Accumulated impairment losses (a)	$	1,160	$	808	$	324	$	2,292

_______________

(a)Includes impairment charges which reduced goodwill by $413 million, $237 million, $1,153 million and $489 million during the first quarter of 2020, third quarter of 2019, fourth quarter of 2008 and fourth quarter of 2007, respectively.

Intangible Assets

Intangible assets are as follows:


	As of June 30, 2020										As of December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortizable—Franchise agreements (a)	$	2,019	$	893	$	1,126	$	2,019	$	859	$	1,160
Indefinite life—Trademarks (b) (c)	$	643			$	643	$	673			$	673
Other Intangibles
Amortizable—License agreements (d)	$	45	$	12	$	33	$	45	$	12	$	33
Amortizable—Customer relationships (e)	71		58		13		71		57		14
Indefinite life—Title plant shares (f)	19				19		19				19
Amortizable—Other (g)	23		18		5		27		21		6
Total Other Intangibles	$	158	$	88	$	70	$	162	$	90	$	72

_______________

(a)Generally amortized over a period of 30 years.

(b)Primarily related to real estate franchise brands which are expected to generate future cash flows for an indefinite period of time.

(c)Realogy Franchise Group trademarks was impaired by $30 million during the first quarter of 2020.

(d)Relates to the Sotheby’s International Realty^® and Better Homes and Gardens^® Real Estate agreements which are being amortized over 50 years (the contractual term of the license agreements).

(e)Relates to the customer relationships at Realogy Title Group and Realogy Brokerage Group. These relationships are being amortized over a period of 2 to 12 years.

(f)Ownership in a title plant is required to transact title insurance in certain states. The Company expects to generate future cash flows for an indefinite period of time.

(g)Consists of covenants not to compete which are amortized over their contract lives and other intangibles which are generally amortized over periods ranging from 5 to 10 years.

Intangible asset amortization expense is as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Franchise agreements	$	17	$	17	$	34	$	34
License agreements	—		—		—		—
Customer relationships	—		1		1		2
Other	1		1		2		2
Total	$	18	$	19	$	37	$	38

Based on the Company’s amortizable intangible assets as of June 30, 2020, the Company expects related amortization expense for the remainder of 2020, the four succeeding years and thereafter to be approximately $37 million, $72 million, $70 million, $70 million, $70 million and $858 million, respectively.

Accrued Expenses And Other Current Liabilities

6 Months Ended

Jun. 30, 2020

Payables and Accruals [Abstract]

Accrued Expenses And Other Current Liabilities

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consisted of:


	June 30, 2020		December 31, 2019
Accrued payroll and related employee costs	$	93	$	103
Accrued volume incentives	20		35
Accrued commissions	48		32
Restructuring accruals	8		11
Deferred income	34		43
Accrued interest	21		18
Current portion of finance lease liabilities	13		13
Due to former parent	19		18
Other	76		77
Total accrued expenses and other current liabilities	$	332	$	350

Short And Long Term-Debt

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Short And Long-Term Debt

SHORT AND LONG-TERM DEBT

Total indebtedness is as follows:


	June 30, 2020		December 31, 2019
Senior Secured Credit Facility:
Revolving Credit Facility	$	815	$	190
Term Loan B	1,041		1,045
Term Loan A Facility:
Term Loan A	700		714
7.625% Senior Secured Second Lien Notes	539		—
5.25% Senior Notes	—		548
4.875% Senior Notes	405		405
9.375% Senior Notes	543		543
Total Short-Term & Long-Term Debt	$	4,043	$	3,445

Indebtedness Table

As of June 30, 2020, the Company’s borrowing arrangements were as follows:


	Interest Rate	Expiration Date	Principal Amount		Unamortized Discount and Debt Issuance Costs	Net Amount
Senior Secured Credit Facility:
Revolving Credit Facility (1)	(2)	February 2023	$	815	$ *	$	815
Term Loan B	(3)	February 2025	1,053		12	1,041
Term Loan A Facility:
Term Loan A	(4)	February 2023	703		3	700
Senior Secured Second Lien Notes	7.625%	June 2025	550		11	539
Senior Notes	4.875%	June 2023	407		2	405
Senior Notes	9.375%	April 2027	550		7	543
Total						$	4,078	$	35	$	4,043

_______________

* The debt issuance costs related to our Revolving Credit Facility are classified as a deferred financing asset within other assets.

(1)In response to the rapidly evolving COVID-19 pandemic, the Company borrowed an additional $400 million under the Revolving Credit Facility in March 2020 as a proactive measure intended to increase liquidity to support our operations and supplement available cash on hand. As of June 30, 2020, the $1,425 million Revolving Credit Facility had outstanding borrowings of $815 million, as well as $40 million of outstanding undrawn letters of credit. The Revolving Credit Facility expires in February 2023 but is classified on the balance sheet as current due to the revolving nature and terms and conditions of the facility. On August 3, 2020, the Company had $815 million in outstanding borrowings under the Revolving Credit Facility and $40 million of outstanding undrawn letters of credit.

(2)Interest rates with respect to revolving loans under the Senior Secured Credit Facility at June 30, 2020 were based on, at the Company's option, (a) adjusted London Interbank Offering Rate ("LIBOR") plus an additional margin or (b) JP Morgan Chase Bank, N.A.'s prime rate ("ABR") plus an additional margin, in each case subject to adjustment based on the then current senior secured leverage ratio. Based on the previous quarter's senior secured leverage ratio, the LIBOR margin was 2.25% and the ABR margin was 1.25% for the three months ended June 30, 2020.

(3)The Term Loan B provides for quarterly amortization payments totaling 1% per annum of the original principal amount. The interest rate with respect to term loans under the Term Loan B is based on, at the Company’s option, (a) adjusted LIBOR plus 2.25% (with a LIBOR floor of 0.75%) or (b) ABR plus 1.25% (with an ABR floor of 1.75%).

(4)The Term Loan A provides for quarterly amortization payments, based on a percentage of the original principal amount of the Term Loan A, as follows: 0.625% per quarter from June 30, 2018 to March 31, 2020; 1.25% per quarter from June 30, 2020 to March 31, 2021; 1.875% per quarter from June 30, 2021 to March 31, 2022; and 2.50% per quarter for periods ending on or after June 30, 2022, with the balance of the Term Loan A due at maturity on February 8, 2023. The interest rates with respect to the Term Loan A are based on, at the Company's option, (a) adjusted LIBOR plus an additional margin or (b) ABR plus an additional margin, in each

case subject to adjustment based on the then current senior secured leverage ratio. Based on the previous quarter's senior secured leverage ratio, the LIBOR margin was 2.25% and the ABR margin was 1.25% for the three months ended June 30, 2020.

Maturities Table

As of June 30, 2020, the combined aggregate amount of maturities for long-term borrowings for the remainder of 2020 and each of the next four years is as follows:


Year	Amount
Remaining 2020 (a)	$	839
2021	62
2022	81
2023	981
2024	11

_______________

(a)Remaining 2020 includes amortization payments totaling $19 million and $5 million for the Term Loan A and Term Loan B facilities, respectively, as well as $815 million of revolver borrowings under the Revolving Credit Facility which expires in February 2023 but is classified on the balance sheet as current due to the revolving nature and terms and conditions of the facility. The current portion of long-term debt of $868 million shown on the condensed consolidated balance sheet consists of four quarters of amortization payments totaling $42 million and $11 million for the Term Loan A and Term Loan B facilities, respectively, and $815 million of revolver borrowings under the Revolving Credit Facility.

Senior Secured Credit Agreement and Term Loan A Agreement

The Company’s Amended and Restated Credit Agreement dated as of March 5, 2013, as amended, amended and restated, modified or supplemented from time to time (the “Senior Secured Credit Agreement”) governs the Company's senior secured credit facility (the “Senior Secured Credit Facility”, which includes the “Revolving Credit Facility” and the “Term Loan B”) and the Term Loan A Agreement dated as of October 23, 2015, as amended from time to time (the “Term Loan A Agreement”) governs the senior secured term loan A credit facility (the “Term Loan A Facility”).

Senior Secured Credit Facility

The Senior Secured Credit Facility includes:

(a)the Term Loan B issued in the original aggregate principal amount of $1,080 million with a maturity date of February 2025. The Term Loan B has quarterly amortization payments totaling 1% per annum of the initial aggregate principal amount. The interest rate with respect to term loans under the Term Loan B is based on, at Realogy Group's option, adjusted LIBOR plus 2.25% (with a LIBOR floor of 0.75%) or ABR plus 1.25% (with an ABR floor of 1.75%); and

(b)a $1,425 million Revolving Credit Facility with a maturity date of February 2023, which includes a $125 million letter of credit subfacility. The interest rate with respect to revolving loans under the Revolving Credit Facility is based on, at Realogy Group's option, adjusted LIBOR or ABR plus an additional margin subject to the following adjustments based on the Company’s then current senior secured leverage ratio:


Senior Secured Leverage Ratio	Applicable LIBOR Margin	Applicable ABR Margin
Greater than 3.50 to 1.00	2.50%	1.50%
Less than or equal to 3.50 to 1.00 but greater than or equal to 2.50 to 1.00	2.25%	1.25%
Less than 2.50 to 1.00 but greater than or equal to 2.00 to 1.00	2.00%	1.00%
Less than 2.00 to 1.00	1.75%	0.75%

The obligations under the Senior Secured Credit Agreement are secured to the extent legally permissible by substantially all of the assets of Realogy Group, Realogy Intermediate and all of their domestic subsidiaries, other than certain excluded subsidiaries.

Realogy Group’s Senior Secured Credit Agreement contains financial, affirmative and negative covenants and requires Realogy Group to maintain (so long as the Revolving Credit Facility is outstanding) a senior secured leverage ratio. As of June 30, 2020, Realogy Group was required to maintain a senior secured leverage ratio not to exceed 4.75 to 1.00. The leverage ratio is tested quarterly regardless of the amount of borrowings outstanding and letters of credit issued under the

Revolving Credit Facility at the testing date. Total senior secured net debt does not include the securitization obligations, 7.625% Senior Secured Second Lien Notes, or our unsecured indebtedness, including the Unsecured Notes. At June 30, 2020, Realogy Group was in compliance with the senior secured leverage ratio covenant with a senior secured leverage ratio of 3.29 to 1.00 at June 30, 2020. For the calculation of the senior secured leverage ratio for the second quarter of 2020, see Part I., Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations—Senior Secured Leverage Ratio applicable to our Senior Secured Credit Facility and Term Loan A Facility.

On July 24, 2020, Realogy Group entered into amendments to the Senior Secured Credit Agreement and Term Loan A Agreement (referred to collectively herein as the “Amendments”), pursuant to which the senior secured leverage ratio has been eased and certain other covenants have been tightened. For additional information see Note 11, "Subsequent Events", to the Condensed Consolidated Financial Statements.

Term Loan A Facility

The Term Loan A of $750 million due February 2023 provides for quarterly amortization based on a percentage of the original principal amount of the Term Loan A, as follows: 0.625% per quarter from June 30, 2018 to March 31, 2020; 1.25% per quarter from June 30, 2020 to March 31, 2021; 1.875% per quarter from June 30, 2021 to March 31, 2022; and 2.50% per quarter for periods ending on or after June 30, 2022, with the balance of the Term Loan A due at maturity on February 8, 2023. The interest rates with respect to the Term Loan A are based on, at the Company's option, adjusted LIBOR or ABR plus an additional margin subject to the following adjustments based on the Company’s then current senior secured leverage ratio:


Senior Secured Leverage Ratio	Applicable LIBOR Margin	Applicable ABR Margin
Greater than 3.50 to 1.00	2.50%	1.50%
Less than or equal to 3.50 to 1.00 but greater than or equal to 2.50 to 1.00	2.25%	1.25%
Less than 2.50 to 1.00 but greater than or equal to 2.00 to 1.00	2.00%	1.00%
Less than 2.00 to 1.00	1.75%	0.75%

The Term Loan A Agreement contains covenants that are substantially similar to those in the Senior Secured Credit Agreement. The Amendment to the Term Loan A Agreement, effective July 24, 2020, contains provisions substantially similar to those contained in the Amendment to the Senior Secured Credit Agreement. For additional information see Note 11, "Subsequent Events", to the Condensed Consolidated Financial Statements.

Senior Secured Second Lien Notes

In June 2020, Realogy Group issued $550 million 7.625% Senior Secured Second Lien Notes. The 7.625% Senior Secured Second Lien Notes mature on June 15, 2025 and interest is payable semiannually on June 15 and December 15 of each year, commencing December 15, 2020.

The 7.625% Senior Secured Second Lien Notes are guaranteed on a senior secured second priority basis by Realogy Intermediate and each domestic subsidiary of Realogy Group, other than certain excluded entities, that is a guarantor under its Senior Secured Credit Facility and Term Loan A Facility and certain of its outstanding debt securities. The 7.625% Senior Secured Second Lien Notes are also guaranteed by Realogy Holdings on an unsecured senior subordinated basis. The 7.625% Senior Secured Second Lien Notes are secured by substantially the same collateral as Realogy Group's existing first lien obligations under its Senior Secured Credit Facility and Term Loan A Facility on a second priority basis.

The indentures governing the 7.625% Senior Secured Second Lien Notes contain various covenants that limit the ability of Realogy Intermediate, Realogy Group and Realogy Group’s restricted subsidiaries to take certain actions, which covenants are subject to a number of important exceptions and qualifications. These covenants are substantially similar to the covenants in the indenture governing the 9.375% Senior Notes due 2027, as described under Unsecured Notes below.

Unsecured Notes

In June 2020, the Company used the entire net proceeds from the $550 million 7.625% Senior Secured Second Lien Notes, together with cash on hand, to fund the redemption of all of the outstanding 5.25% Senior Notes due 2021, and to pay related interest, premium, fees, and expenses.

The 4.875% Senior Notes and the 9.375% Senior Notes (collectively the "Unsecured Notes") are unsecured senior obligations of Realogy Group that mature on June 1, 2023 and April 1, 2027, respectively. Interest on the Unsecured Notes

is payable each year semiannually on June 1 and December 1 for the 4.875% Senior Notes, and on April 1 and October 1 for the 9.375% Senior Notes.

The Unsecured Notes are guaranteed on an unsecured senior basis by each domestic subsidiary of Realogy Group that is a guarantor under the Senior Secured Credit Facility, Term Loan A Facility and Realogy Group's outstanding debt securities and are guaranteed by Realogy Holdings on an unsecured senior subordinated basis.

The indentures governing the Unsecured Notes contain various negative covenants that limit Realogy Group's and its restricted subsidiaries’ ability to take certain actions, which covenants are subject to a number of important exceptions and qualifications. These covenants include limitations on Realogy Group's and its restricted subsidiaries’ ability to (a) incur or guarantee additional indebtedness, or issue disqualified stock or preferred stock, (b) pay dividends or make distributions to their stockholders, (c) repurchase or redeem capital stock, (d) make investments or acquisitions, (e) incur restrictions on the ability of certain of their subsidiaries to pay dividends or to make other payments to Realogy Group, (f) enter into transactions with affiliates, (g) create liens, (h) merge or consolidate with other companies or transfer all or substantially all of their assets, (i) transfer or sell assets, including capital stock of subsidiaries and (j) prepay, redeem or repurchase debt that is subordinated in right of payment to the Unsecured Notes.

The covenants in the indenture governing the 9.375% Senior Notes are substantially similar to the covenants in the indentures governing the other Unsecured Notes, with certain exceptions, including several changes relating to Realogy Group’s ability to make restricted payments, and in particular, its ability to repurchase shares and pay dividends. Specifically, (a) the cumulative credit basket for restricted payments (i) was reset to zero and builds from January 1, 2019, (ii) builds at 25% of Consolidated Net Income (as defined in the indenture governing the 9.375% Senior Notes) when the consolidated leverage ratio (as defined below) is equal to or greater than 4.0 to 1.0 (and 50% of Consolidated Net Income when it is less than 4.0 to 1.0) and, consistent with the indentures governing the other Unsecured Notes, is reduced by 100% of the deficit when Consolidated Net Income is a deficit and (iii) may not be used when the consolidated leverage ratio is equal to or greater than 4.0 to 1.0; (b) the $100 million general restricted payment basket may be used only for Restricted Investments (as defined in the indenture governing the 9.375% Senior Notes); (c) the indenture governing the 9.375% Senior Notes requires the consolidated leverage ratio to be less than 3.0 to 1.0 to use the unlimited general restricted payment basket (which payments will reduce the cumulative credit basket, but not below zero); and (d) the indenture governing the 9.375% Senior Notes contains a new restricted payment basket that may be used for up to $45 million of dividends per calendar year.

The consolidated leverage ratio is measured by dividing Realogy Group's total net debt by the trailing four quarters EBITDA. EBITDA, as defined in the indenture governing the 9.375% Senior Notes, is substantially similar to EBITDA calculated on a Pro Forma Basis, as those terms are defined in the Senior Secured Credit Agreement. Net debt under the indenture is Realogy Group's total indebtedness less (i) its cash and cash equivalents in excess of restricted cash and (ii) a $200 million seasonality adjustment permitted when measuring the ratio on a date during the period of March 1 to May 31.

Loss on the Early Extinguishment of Debt

During the six months ended June 30, 2020, the Company recorded a loss on the early extinguishment of debt of $8 million as a result of the issuance of $550 million of 7.625% Senior Secured Second Lien Notes due 2025 and the redemption of $550 million of 5.25% Senior Notes due 2021 in June 2020.

As a result of the refinancing transaction in February 2019, the Company recorded a loss on the early extinguishment of debt of $5 million during the six months ended June 30, 2019.

Restructuring Costs Restructuring Costs

6 Months Ended

Jun. 30, 2020

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure

. RESTRUCTURING COSTS

Restructuring charges were $14 million and $25 million for the three and six months ended June 30, 2020, respectively, and $9 million and $18 million for the three and six months ended June 30, 2019, respectively. The components of the restructuring charges for the three and six months ended June 30, 2020 and 2019 were as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Personnel-related costs (1)	$	4	$	5	$	7	$	13
Facility-related costs (2)	10		4		18		5
Total restructuring charges (3)	$	14	$	9	$	25	$	18

_______________

(1)Personnel-related costs consist of severance costs provided to employees who have been terminated and duplicate payroll costs during transition.

(2)Facility-related costs consist of costs associated with planned facility closures such as contract termination costs, amortization of lease assets that will continue to be incurred under the contract for its remaining term without economic benefit to the Company, accelerated depreciation on asset disposals and other facility and employee relocation related costs.

(3)Restructuring charges for the three and six months ended June 30, 2020 include $12 million and $23 million, respectively, related to the Facility and Operational Efficiencies Program and $2 million related to the Leadership Realignment and Other Restructuring Activities Program. Restructuring charges for the three and six months ended June 30, 2019 include $9 million and $15 million, respectively, related to the Facility and Operational Efficiencies Program and zero and $3 million, respectively, related to the Leadership Realignment and Other Restructuring Activities Program.

Facility and Operational Efficiencies Program

Beginning in the first quarter of 2019, the Company commenced the implementation of a plan to accelerate its office consolidation to reduce storefront costs, as well as institute other operational efficiencies to drive profitability. In addition, the Company commenced a plan to transform and centralize certain aspects of the operational support and drive changes in how it serves its affiliated independent sales agents from a marketing and technology perspective to help such agents be more productive and enable them to make their businesses more profitable. In the third quarter of 2019, the Company reduced headcount in connection with the wind-down of a former affinity program. In the fourth quarter of 2019, the Company expanded its operational efficiencies program to focus on workforce optimization. This workforce optimization initiative is focused on consolidating similar or overlapping roles, reducing the number of hierarchical layers and streamlining work and decision making. Furthermore, at the end of 2019, the Company expanded these strategic initiatives which are expected to result in additional operational and facility related efficiencies in 2020.

The following is a reconciliation of the beginning and ending reserve balances related to the Facility and Operational Efficiencies Program:


	Personnel-related costs		Facility-related costs		Total
Balance at December 31, 2019	$	6	$	5	$	11
Restructuring charges (1)	7		16		23
Costs paid or otherwise settled	(10)		(12)		(22)
Balance at June 30, 2020	$	3	$	9	$	12

_______________

(1)In addition, the Company incurred an additional $11 million of facility-related costs for lease asset impairments in connection with the Facility and Operational Efficiencies Program during the six months ended June 30, 2020.

The following table shows the total costs currently expected to be incurred by type of cost related to the Facility and Operational Efficiencies Program:


	Total amount expected to be incurred		Amount incurred to date		Total amount remaining to be incurred
Personnel-related costs	$	30	$	28	$	2
Facility-related costs (1)	50		32		18
Other restructuring costs	1		1		—
Total	$	81	$	61	$	20

_______________

(1)Facility-related costs includes lease asset impairments expected to be incurred under the Facility and Operational Efficiencies Program.

The following table shows the total costs currently expected to be incurred by reportable segment related to the Facility and Operational Efficiencies Program:


	Total amount expected to be incurred		Amount incurred to date		Total amount remaining to be incurred
Realogy Franchise Group	$	5	$	5	$	—
Realogy Brokerage Group	62		44		18
Realogy Title Group	5		5		—
Corporate and Other	9		7		2
Total	$	81	$	61	$	20

Leadership Realignment and Other Restructuring Activities

Beginning in the first quarter of 2018, the Company commenced the implementation of a plan to drive its business forward and enhance stockholder value. The key aspects of this plan included senior leadership realignment, an enhanced focus on technology and talent, as well as further attention to office footprint and other operational efficiencies. The activities undertaken in connection with the restructuring plan are complete. At December 31, 2019, the remaining liability was $5 million. During the six months ended June 30, 2020, the Company incurred facility-related costs of $2 million and paid or settled costs of $4 million resulting in a remaining accrual of $3 million.

Equity

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

EQUITY

Condensed Consolidated Statement of Changes in Equity for Realogy Holdings


	Three Months Ended June 30, 2020
	Common Stock					Additional Paid-In Capital		Accumulated Deficit		Accumulated Other Comprehensive Loss		Non- controlling Interests		Total Equity


	Shares	Amount
Balance at March 31, 2020	115.3	$	1	$	4,844	$	(3,157)	$	(57)	$	3	$	1,634
Net (loss) income	—	—		—		(14)		—		1		(13)
Other comprehensive income	—	—		—		—		1		—		1
Stock-based compensation	—	—		4		—		—		—		4
Issuance of shares for vesting of equity awards	0.1	—		—		—		—		—		—
Shares withheld for taxes on equity awards	—	—		(1)		—		—		—		(1)
Balance at June 30, 2020	115.4	$	1	$	4,847	$	(3,171)	$	(56)	$	4	$	1,625


	Three Months Ended June 30, 2019
	Common Stock					Additional Paid-In Capital		Accumulated Deficit		Accumulated Other Comprehensive Loss		Non- controlling Interests		Total Equity


	Shares	Amount
Balance at March 31, 2019	114.2	$	1	$	4,841	$	(2,606)	$	(50)	$	3	$	2,189
Net Income	—	—		—		69		—		1		70
Other comprehensive loss	—	—		—		—		(1)		—		(1)
Stock-based compensation	—	—		7		—		—		—		7
Issuance of shares for vesting of equity awards	0.1	—		—		—		—		—		—
Dividends declared ($0.09 per share)	—	—		(11)		—		—		(1)		(12)
Balance at June 30, 2019	114.3	$	1	$	4,837	$	(2,537)	$	(51)	$	3	$	2,253


	Six Months Ended June 30, 2020
	Common Stock					Additional Paid-In Capital		Accumulated Deficit		Accumulated Other Comprehensive Loss		Non- controlling Interests		Total Equity


	Shares	Amount
Balance at December 31, 2019	114.4	$	1	$	4,842	$	(2,695)	$	(56)	$	4	$	2,096
Net (loss) income	—	—		—		(476)		—		1		(475)
Stock-based compensation	—	—		10		—		—		—		10
Issuance of shares for vesting of equity awards	1.5	—		—		—		—		—		—
Shares withheld for taxes on equity awards	(0.5)	—		(5)		—		—		—		(5)
Dividends	—	—		—		—		—		(1)		(1)
Balance at June 30, 2020	115.4	$	1	$	4,847	$	(3,171)	$	(56)	$	4	$	1,625


	Six Months Ended June 30, 2019
	Common Stock					Additional Paid-In Capital		Accumulated Deficit		Accumulated Other Comprehensive Loss		Non- controlling Interests		Total Equity


	Shares	Amount
Balance at December 31, 2018	114.6	$	1	$	4,869	$	(2,507)	$	(52)	$	4	$	2,315
Net (loss) income	—	—		—		(30)		—		1		(29)
Other comprehensive income	—	—		—		—		1		—		1
Repurchase of common stock	(1.2)	—		(20)		—		—		—		(20)
Stock-based compensation	—	—		15		—		—		—		15
Issuance of shares for vesting of equity awards	1.3	—		—		—		—		—		—
Shares withheld for taxes on equity awards	(0.4)	—		(6)		—		—		—		(6)
Dividends declared ($0.18 per share)	—	—		(21)		—		—		(2)		(23)
Balance at June 30, 2019	114.3	$	1	$	4,837	$	(2,537)	$	(51)	$	3	$	2,253

Condensed Consolidated Statement of Changes in Equity for Realogy Group

The Company has not included a statement of changes in equity for Realogy Group as the operating results of Group are consistent with the operating results of Realogy Holdings as all revenue and expenses of Realogy Group flow up to Realogy Holdings and there are no incremental activities at the Realogy Holdings level. The only difference between Realogy Group and Realogy Holdings is that the $1 million in par value of common stock in Realogy Holdings' equity is included in additional paid-in capital in Realogy Group's equity.

Stock Repurchases

Shares of Company common stock that have been repurchased pursuant to prior authorizations from the Company's Board of Directors have been retired and are not displayed separately as treasury stock on the consolidated financial statements. The par value of the shares repurchased and retired is deducted from common stock and the excess of the purchase price over par value is first charged against any available additional paid-in capital with the balance charged to retained earnings. Direct costs incurred to repurchase the shares are included in the total cost of the shares.

The Company's Board of Directors authorized a share repurchase program of up to $275 million, $300 million, $350 million and $175 million of the Company's common stock in February 2016, 2017, 2018 and 2019, respectively.

In the first quarter of 2019, the Company repurchased and retired 1.2 million shares of common stock for $20 million at a weighted average market price of $17.21 per share. The Company has not repurchased any shares under the share repurchase programs since 2019, and in May 2020, the Company's Board of Directors terminated its outstanding share repurchase programs.

During the covenant period (as defined in Note 11, "Subsequent Events", to the Condensed Consolidated Financial Statements) under the Amendments to the Senior Secured Credit Agreement and Term Loan A Agreement, the Company is restricted from repurchasing shares. In addition, the restrictive covenants in the indentures governing the 9.375% Senior Notes and 7.625% Senior Secured Second Lien Notes further restrict the Company's ability to repurchase shares. See Note 5. "Short and Long-Term Debt—Unsecured Notes", to the Condensed Consolidated Financial Statements for additional information.

Stock-Based Compensation

During the first quarter of 2020, the Company granted restricted stock units related to 0.7 million shares with a weighted average grant date fair value of $9.70 and performance stock units related to 0.9 million shares with a weighted average grant date fair value of $9.23. The Company granted all time-based equity awards in the form of restricted stock units which are subject to ratable vesting over a three-year period. Therefore, the Company did not grant shares of non-qualified stock options during the first quarter of 2020.

Cash-Based Compensation

During the first quarter of 2020, instead of issuing stock based compensation to certain employees, the Company issued $18 million of time-vested cash awards which vest annually over a three-year vesting period, $6 million of cash-settled long-term performance awards which are tied to cumulative free cash flow goals that will vest at the end of the three-year performance cycle based on achievement of the performance metric and $3 million of cash-settled awards based on the change in Realogy stock price that will vest at the end of the three-year performance cycle.

Earnings (Loss) Per Share (Notes)

6 Months Ended

Jun. 30, 2020

Earnings Per Share

EARNINGS (LOSS) PER SHARE

Earnings (loss) per share attributable to Realogy Holdings

Basic earnings (loss) per share is computed based on net income (loss) attributable to Realogy Holdings stockholders divided by the basic weighted-average shares outstanding during the period. Dilutive earnings per share is computed consistently with the basic computation while giving effect to all dilutive potential common shares and common share equivalents that were outstanding during the period. Realogy Holdings uses the treasury stock method to reflect the potential dilutive effect of unvested stock awards and unexercised options. The following table sets forth the computation of basic and diluted earnings (loss) per share:


	Three Months Ended June 30,						Six Months Ended June 30,
(in millions, except per share data)	2020		2019		2020		2019
Numerator:
Numerator for earnings (loss) per share—continuing operations
Net income (loss) from continuing operations	$	28	$	69	$	(407)	$	(16)
Less: Net income attributable to noncontrolling interests	(1)		(1)		(1)		(1)
Net income (loss) from continuing operations attributable to Realogy Holdings	$	27	$	68	$	(408)	$	(17)
Numerator for earnings (loss) per share—discontinued operations
Net (loss) income from discontinued operations	$	(41)	$	1	$	(68)	$	(13)
Net (loss) income attributable to Realogy Holdings shareholders	$	(14)	$	69	$	(476)	$	(30)
Denominator:
Weighted average common shares outstanding (denominator for basic (loss) earnings per share calculation)	115.4		114.3		115.0		114.1
Dilutive effect of stock-based compensation (a)(b)	0.8		0.6		—		—
Weighted average common shares outstanding (denominator for diluted (loss) earnings per share calculation)	116.2		114.9		115.0		114.1
Basic (loss) earnings per share attributable to Realogy Holdings shareholders:
Basic earnings (loss) per share from continuing operations	$	0.23	$	0.59	$	(3.55)	$	(0.15)
Basic (loss) earnings per share from discontinued operations	(0.35)		0.01		(0.59)		(0.11)
Basic (loss) earnings per share	$	(0.12)	$	0.60	$	(4.14)	$	(0.26)
Diluted (loss) earnings per share attributable to Realogy Holdings shareholders:
Diluted earnings (loss) per share from continuing operations	$	0.23	$	0.59	$	(3.55)	$	(0.15)
Diluted (loss) earnings per share from discontinued operations	(0.35)		0.01		(0.59)		(0.11)
Diluted (loss) earnings per share	$	(0.12)	$	0.60	$	(4.14)	$	(0.26)

_______________

(a)The three months ended June 30, 2020 and 2019 exclude 9.0 million and 10.4 million shares, respectively, of common stock issuable for incentive equity awards, which includes performance share units based on the achievement of target amounts, that are anti-dilutive to the diluted earnings per share computation.

(b)The Company had a net loss from continuing operations for the six months ended June 30, 2020 and 2019 and therefore the impact of incentive equity awards were excluded from the computation of dilutive loss per share as the inclusion of such amounts would be anti-dilutive.

Segment Information

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

The reportable segments presented below represent the Company’s segments for which separate financial information is available and which is utilized on a regular basis by its chief operating decision maker to assess performance and to allocate resources. In identifying its reportable segments, the Company also considers the nature of services provided by its segments. During the first quarter of 2020, Realogy Leads Group was consolidated into Realogy Franchise Group and the segment change is reflected for all periods presented. Realogy Leads Group, which previously was part of Cartus, consists of the Company's affinity and broker-to-broker business, as well as the broker network made up of agents and brokers from Realogy’s residential real estate brands and certain independent real estate brokers (which is referred to as the Realogy Advantage Broker Network). The Company initiated litigation against affiliates of MDP and SIRVA to enforce SIRVA’s obligations under the Purchase Agreement as described in Note 9. "Commitments and Contingencies". Based upon developments in this litigation, the Company may reassess segment classification in future periods.

Management evaluates the operating results of each of its reportable segments based upon revenue and Operating EBITDA. Operating EBITDA is defined by us as net income (loss) before depreciation and amortization, interest expense, net, income taxes, and other items that are not core to the operating activities of the Company such as restructuring charges, former parent legacy items, gains or losses on the early extinguishment of debt, impairments, gains or losses on discontinued operations and gains or losses on the sale of investments or other assets. The Company’s presentation of Operating EBITDA may not be comparable to similar measures used by other companies.


	Revenues (a) (b)
	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Realogy Franchise Group	$	179	$	260	$	347	$	439
Realogy Brokerage Group	933		1,331		1,802		2,147
Realogy Title Group	160		160		297		274
Corporate and Other (c)	(65)		(87)		(123)		(142)
Total Company	$	1,207	$	1,664	$	2,323	$	2,718

_______________

(a)Transactions between segments are eliminated in consolidation. Revenues for the Realogy Franchise Group include intercompany royalties and marketing fees paid by Realogy Brokerage Group of $65 million and $123 million for the three and six months ended June 30, 2020, respectively, and $87 million and $142 million for the three and six months ended June 30, 2019, respectively. Such amounts are eliminated through the Corporate and Other line.

(b)Revenues for Realogy Franchise Group include intercompany referral commissions related to Realogy Advantage Broker Network paid by Realogy Brokerage Group of $3 million and $5 million for the three and six months ended June 30, 2020, respectively, and $5 million and $8 million for the three and six months ended June 30, 2019, respectively. Such amounts are recorded as contra-revenues by Realogy Brokerage Group. There are no other material intersegment transactions.

(c)Includes the elimination of transactions between segments.


	Operating EBITDA
	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Realogy Franchise Group	$	122	$	180	$	223	$	278
Realogy Brokerage Group	15		47		(36)		(15)
Realogy Title Group	61		32		73		23
Corporate and Other (a)	(26)		(24)		(51)		(49)
Total continuing operations	172		235		209		237

Less: Depreciation and amortization	46		43		91		84
Interest expense, net	59		80		160		143
Income tax expense (benefit)	11		33		(121)		1
Restructuring costs, net (b)	14		9		25		18
Impairments (c)	7		2		454		3
Loss on the early extinguishment of debt (d)	8		—		8		5
Net income (loss) from continuing operations attributable to Realogy Holdings and Realogy Group	27		68		(408)		(17)
Net (loss) income from discontinued operations	(41)		1		(68)		(13)
Net (loss) income attributable to Realogy Holdings and Realogy Group	$	(14)	$	69	$	(476)	$	(30)

_______________

(a)Includes the elimination of transactions between segments.

(b)The three months ended June 30, 2020 includes restructuring charges of $12 million at Realogy Brokerage Group and $2 million at Realogy Title Group.

The three months ended June 30, 2019 includes restructuring charges of $1 million at Realogy Franchise Group, $6 million at Realogy Brokerage Group, $1 million at Realogy Title Group and $1 million at Corporate and Other.

The six months ended June 30, 2020 includes restructuring charges of $1 million at Realogy Franchise Group, $21 million at Realogy Brokerage Group and $3 million at Realogy Title Group.

The six months ended June 30, 2019 includes restructuring charges of $1 million at Realogy Franchise Group, $10 million at Realogy Brokerage Group, $2 million at Realogy Title Group and $5 million at Corporate and Other.

(c)Impairments for the three months ended June 30, 2020 and for the three and six months ended June 30, 2019 relate to lease asset impairments.

Impairments for the six months ended June 30, 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 $11 million related to lease asset impairments.

(d)Loss on the early extinguishment of debt is recorded in Corporate and Other.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS On July 24, 2020, Realogy Group amended the Senior Secured Credit Agreement and Term Loan A Agreement (collectively referred to as the “Amendments”) to ease the senior secured leverage ratio financial covenant under each agreement. Under the Amendments, Realogy Group is required to maintain a senior secured leverage ratio not to exceed 6.50 to 1.00 commencing with the third quarter of 2020 through and including the second quarter of 2021. Following the second quarter of 2021, the maximum senior secured leverage ratio permitted will then step down to 5.50 to 1.00 for the third quarter of 2021 and thereafter step down by 0.25 on a quarterly basis to 4.75 to 1.00 (which was the applicable level prior to the effectiveness of the Amendments) on and after the second quarter of 2022. No changes were made to the commitments and pricing under the Senior Secured Credit Agreement and Term Loan A Agreement pursuant to the Amendments. The Amendments also tighten certain other covenants during the period commencing on July 24, 2020 until the Company issues its financial results for the third quarter of 2021 and concurrently delivers of an officer’s certificate to its lenders showing compliance with the quarterly financial covenant, subject to earlier termination, or the “covenant period.” If Realogy Group’s senior secured leverage ratio does not exceed 5.50 to 1.00 for the fiscal quarter ending June 30, 2021, the covenant period will end at the time the Company delivers the compliance certificate to the lenders for such period; however, in either instance, the gradual step down in the senior secured leverage ratio, as described above, will continue to apply. The covenants revised during this covenant period include the reduction or elimination of the amount available for certain types of additional indebtedness, liens, restricted payments (including dividends and stock repurchases), investments (including acquisitions and joint ventures), and voluntary junior debt repayments. The Company also may elect to end the covenant period at any time, provided the senior secured leverage ratio does not exceed 4.75 to 1.00 as of the most recently ended quarter for which financial statements have been delivered. In such event, the leverage ratio will reset to the pre-Amendment level of 4.75 to 1.00 thereafter.

Basis Of Presentation Basis of Presentation (Policies)

6 Months Ended

Jun. 30, 2020

Fair Value Measurement, Policy


Level Input:						Input Definitions:

Level I						Inputs are unadjusted, quoted prices for identical assets or liabilities in active markets at the measurement date.

Level II						Inputs other than quoted prices included in Level I that are observable for the asset or liability through corroboration with market data at the measurement date.

Level III						Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date.

The following table summarizes fair value measurements by level at June 30, 2020 for assets and liabilities measured at fair value on a recurring basis:


	Level I		Level II		Level III		Total
Deferred compensation plan assets (included in other non-current assets)	$	1	$	—	$	—	$	1
Interest rate swaps (included in other current and non-current liabilities)	—		99		—		99
Contingent consideration for acquisitions (included in accrued expenses and other current liabilities and other non-current liabilities)	—		—		5		5

The following table summarizes fair value measurements by level at December 31, 2019 for assets and liabilities measured at fair value on a recurring basis:


	Level I		Level II		Level III		Total
Deferred compensation plan assets (included in other non-current assets)	$	2	$	—	$	—	$	2
Interest rate swaps (included in other current and non-current liabilities)	—		47		—		47
Contingent consideration for acquisitions (included in accrued expenses and other current liabilities and other non-current liabilities)	—		—		4		4

The following table presents changes in Level III financial liabilities measured at fair value on a recurring basis:


	Level III
Fair value of contingent consideration at December 31, 2019	$	4
Additions: contingent consideration related to acquisitions completed during the period	1
Reductions: payments of contingent consideration	—
Changes in fair value (reflected in general and administrative expenses)	—
Fair value of contingent consideration at June 30, 2020	$	5

The following table summarizes the principal amount of the Company’s indebtedness compared to the estimated fair value, primarily determined by quoted market values, at:


	June 30, 2020						December 31, 2019
Debt	Principal Amount		Estimated Fair Value (a)		Principal Amount		Estimated Fair Value (a)
Senior Secured Credit Facility:
Revolving Credit Facility	$	815	$	815	$	190	$	190
Term Loan B	1,053		963		1,058		1,048
Term Loan A Facility:
Term Loan A	703		650		717		705
7.625% Senior Secured Second Lien Notes	550		549		—		—
5.25% Senior Notes	—		—		550		557
4.875% Senior Notes	407		383		407		401
9.375% Senior Notes	550		513		550		572

_______________

(a)The fair value of the Company's indebtedness is categorized as Level II.

Equity Method Investments, Policy

Equity Method Investments

At June 30, 2020 and December 31, 2019, the Company had various equity method investments which are recorded within other non-current assets on the accompanying Condensed Consolidated Balance Sheets.

Income Tax, Policy

Income Taxes

Derivatives, Policy

Derivative Instruments

Notional Value (in millions)

Commencement Date

Expiration Date

$600

August 2015

August 2020

(a)

$450

November 2017

November 2022

$400

August 2020

(a)

August 2025

$150

November 2022

November 2027

_______________

(a)Interest rate swaps with a notional value of $600 million expire on August 7, 2020, and interest rate swaps with a notional value of $400 million commence on August 14, 2020.

The fair value of derivative instruments was as follows:

Not Designated as Hedging Instruments

Balance Sheet Location

June 30, 2020

December 31, 2019

Interest rate swap contracts

Other current and non-current liabilities

The effect of derivative instruments on earnings was as follows:


Derivative Instruments Not Designated as Hedging Instruments	Location of Loss Recognized for Derivative Instruments	Loss Recognized on Derivatives
							Three Months Ended June 30,							Six Months Ended June 30,
						2020			2019			2020	2019
Interest rate swap contracts	Interest expense	$	8	$	24		$	59		$	38

Revenue [Policy Text Block]

Revenue


	Three Months Ended June 30,
	Realogy Franchise Group						Realogy Brokerage Group						Realogy Title Group						Corporate and Other		Total Company
	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
Gross commission income (a)	$	—	$	—	$	919	$	1,310	$	—	$	—	$	—	$	—	$	919	$	1,310
Service revenue (b)	14		26		4		3		154		154		—		—		172		183
Franchise fees (c)	148		196		—		—		—		—		(63)		(84)		85		112
Other (d)	17		38		10		18		6		6		(2)		(3)		31		59
Net revenues	$	179	$	260	$	933	$	1,331	$	160	$	160	$	(65)	$	(87)	$	1,207	$	1,664


	Six Months Ended June 30,
	Realogy Franchise Group						Realogy Brokerage Group						Realogy Title Group						Corporate and Other		Total Company
	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
Gross commission income (a)	$	—	$	—	$	1,769	$	2,109	$	—	$	—	$	—	$	—	$	1,769	$	2,109
Service revenue (b)	27		42		9		5		287		265		—		—		323		312
Franchise fees (c)	275		319		—		—		—		—		(119)		(137)		156		182
Other (d)	45		78		24		33		10		9		(4)		(5)		75		115
Net revenues	$	347	$	439	$	1,802	$	2,147	$	297	$	274	$	(123)	$	(142)	$	2,323	$	2,718

______________

(a)Consists primarily of revenues related to gross commission income at Realogy Brokerage Group, which is recognized at a point in time at the closing of a homesale transaction.

(b)Service revenue primarily consists of title and escrow fees at Realogy Title Group, which are recognized at a point in time at the closing of a homesale transaction.

The following table shows the change in the Company's contract liabilities (deferred revenue) related to revenue contracts by reportable segment for the period:


	Beginning Balance at January 1, 2020		Additions during the period		Recognized as Revenue during the period		Ending Balance at June 30, 2020
Realogy Franchise Group:
Deferred area development fees (a)	$	48	$	—	$	(5)	$	43
Deferred brand marketing fund fees (b)	13		22		(32)		3
Other deferred income related to revenue contracts	11		14		(14)		11
Total Realogy Franchise Group	72		36		(51)		57
Realogy Brokerage Group:
Advanced commissions related to development business (c)	9		2		(2)		9
Other deferred income related to revenue contracts	4		1		(2)		3
Total Realogy Brokerage Group	13		3		(4)		12
Total	$	85	$	39	$	(55)	$	69

_______________

(b)Revenues recognized include intercompany marketing fees paid by Realogy Brokerage Group.

(c)New development closings generally have a development period of between 18 and 24 months from contracted date to closing.

Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy

Allowance for Doubtful Accounts

Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy

Supplemental Cash Flow Information

New Accounting Pronouncements, Policy

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 45
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=120406818&loc=d3e32247-109318

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32847-109319

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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=116657188&loc=SL116659661-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
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-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=120406818&loc=d3e32280-109318

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32809-109319

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Intangible Assets, Goodwill and Other (Policies)	6 Months Ended
Intangible Assets, Goodwill and Other (Policies)	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Policy	Goodwill represents the excess of acquisition costs over the fair value of the net tangible assets and identifiable intangible assets acquired in a business combination. Other indefinite-lived intangible assets primarily consist of trademarks acquired in business combinations. Goodwill and other indefinite-lived assets are not amortized, but are subject to impairment testing. The aggregate carrying values of our goodwill and other indefinite-lived intangible assets are subject to an impairment assessment annually as of October 1, or whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable. This assessment compares carrying values of the goodwill reporting units and other indefinite lived intangible assets to their respective fair values and, when appropriate, the carrying value is reduced to fair value. In testing goodwill, the fair value of each reporting unit is estimated using the income approach, a discounted cash flow approach. For the other indefinite lived intangible assets, fair value is estimated using the relief from royalty method. Management utilizes long-term cash flow forecasts and the Company's annual operating plans adjusted for terminal value assumptions. The fair value of the Company's reporting units and other indefinite lived intangible assets are determined utilizing the best estimate of future revenues, operating expenses including commission expense, market and general economic conditions, trends in the industry, as well as assumptions that management believes marketplace participants would utilize including discount rates, cost of capital, trademark royalty rates, and long-term growth rates. The trademark royalty rate was determined by reviewing similar trademark agreements with third parties. Although management believes that assumptions are reasonable, actual results may vary significantly.

Equity (Policies)	6 Months Ended
Equity (Policies)	Jun. 30, 2020
Equity [Abstract]
Stock Repurchase Policy [Policy Text Block]	Stock Repurchases Shares of Company common stock that have been repurchased pursuant to prior authorizations from the Company's Board of Directors have been retired and are not displayed separately as treasury stock on the consolidated financial statements. The par value of the shares repurchased and retired is deducted from common stock and the excess of the purchase price over par value is first charged against any available additional paid-in capital with the balance charged to retained earnings. Direct costs incurred to repurchase the shares are included in the total cost of the shares. The Company's Board of Directors authorized a share repurchase program of up to $275 million, $300 million, $350 million and $175 million of the Company's common stock in February 2016, 2017, 2018 and 2019, respectively. In the first quarter of 2019, the Company repurchased and retired 1.2 million shares of common stock for $20 million at a weighted average market price of $17.21 per share. The Company has not repurchased any shares under the share repurchase programs since 2019, and in May 2020, the Company's Board of Directors terminated its outstanding share repurchase programs.

Basis Of Presentation (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Hierarchy

The following table summarizes fair value measurements by level at June 30, 2020 for assets and liabilities measured at fair value on a recurring basis:


	Level I		Level II		Level III		Total
Deferred compensation plan assets (included in other non-current assets)	$	1	$	—	$	—	$	1
Interest rate swaps (included in other current and non-current liabilities)	—		99		—		99
Contingent consideration for acquisitions (included in accrued expenses and other current liabilities and other non-current liabilities)	—		—		5		5

The following table summarizes fair value measurements by level at December 31, 2019 for assets and liabilities measured at fair value on a recurring basis:


	Level I		Level II		Level III		Total
Deferred compensation plan assets (included in other non-current assets)	$	2	$	—	$	—	$	2
Interest rate swaps (included in other current and non-current liabilities)	—		47		—		47
Contingent consideration for acquisitions (included in accrued expenses and other current liabilities and other non-current liabilities)	—		—		4		4

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table presents changes in Level III financial liabilities measured at fair value on a recurring basis:


	Level III
Fair value of contingent consideration at December 31, 2019	$	4
Additions: contingent consideration related to acquisitions completed during the period	1
Reductions: payments of contingent consideration	—
Changes in fair value (reflected in general and administrative expenses)	—
Fair value of contingent consideration at June 30, 2020	$	5

Fair Value, by Balance Sheet Grouping

The following table summarizes the principal amount of the Company’s indebtedness compared to the estimated fair value, primarily determined by quoted market values, at:


	June 30, 2020						December 31, 2019
Debt	Principal Amount		Estimated Fair Value (a)		Principal Amount		Estimated Fair Value (a)
Senior Secured Credit Facility:
Revolving Credit Facility	$	815	$	815	$	190	$	190
Term Loan B	1,053		963		1,058		1,048
Term Loan A Facility:
Term Loan A	703		650		717		705
7.625% Senior Secured Second Lien Notes	550		549		—		—
5.25% Senior Notes	—		—		550		557
4.875% Senior Notes	407		383		407		401
9.375% Senior Notes	550		513		550		572

_______________

(a)The fair value of the Company's indebtedness is categorized as Level II.

Schedule of Derivative Instruments

As of June 30, 2020, the Company had interest rate swaps with an aggregate notional value of $1,600 million to offset the variability in cash flows resulting from the term loan facilities as follows:

Notional Value (in millions)

Commencement Date

Expiration Date

$600

August 2015

August 2020

(a)

$450

November 2017

November 2022

$400

August 2020

(a)

August 2025

$150

November 2022

November 2027

_______________

(a)Interest rate swaps with a notional value of $600 million expire on August 7, 2020, and interest rate swaps with a notional value of $400 million commence on August 14, 2020.

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair value of derivative instruments was as follows:

Not Designated as Hedging Instruments

Balance Sheet Location

June 30, 2020

December 31, 2019

Interest rate swap contracts

Other current and non-current liabilities

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The effect of derivative instruments on earnings was as follows:


Derivative Instruments Not Designated as Hedging Instruments	Location of Loss Recognized for Derivative Instruments	Loss Recognized on Derivatives
							Three Months Ended June 30,							Six Months Ended June 30,
						2020			2019			2020	2019
Interest rate swap contracts	Interest expense	$	8	$	24		$	59		$	38

Disaggregation of Revenue

Revenue


	Three Months Ended June 30,
	Realogy Franchise Group						Realogy Brokerage Group						Realogy Title Group						Corporate and Other		Total Company
	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
Gross commission income (a)	$	—	$	—	$	919	$	1,310	$	—	$	—	$	—	$	—	$	919	$	1,310
Service revenue (b)	14		26		4		3		154		154		—		—		172		183
Franchise fees (c)	148		196		—		—		—		—		(63)		(84)		85		112
Other (d)	17		38		10		18		6		6		(2)		(3)		31		59
Net revenues	$	179	$	260	$	933	$	1,331	$	160	$	160	$	(65)	$	(87)	$	1,207	$	1,664


	Six Months Ended June 30,
	Realogy Franchise Group						Realogy Brokerage Group						Realogy Title Group						Corporate and Other		Total Company
	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
Gross commission income (a)	$	—	$	—	$	1,769	$	2,109	$	—	$	—	$	—	$	—	$	1,769	$	2,109
Service revenue (b)	27		42		9		5		287		265		—		—		323		312
Franchise fees (c)	275		319		—		—		—		—		(119)		(137)		156		182
Other (d)	45		78		24		33		10		9		(4)		(5)		75		115
Net revenues	$	347	$	439	$	1,802	$	2,147	$	297	$	274	$	(123)	$	(142)	$	2,323	$	2,718

______________

(a)Consists primarily of revenues related to gross commission income at Realogy Brokerage Group, which is recognized at a point in time at the closing of a homesale transaction.

(b)Service revenue primarily consists of title and escrow fees at Realogy Title Group, which are recognized at a point in time at the closing of a homesale transaction.

Deferred Revenue by Arrangement

The following table shows the change in the Company's contract liabilities (deferred revenue) related to revenue contracts by reportable segment for the period:


	Beginning Balance at January 1, 2020		Additions during the period		Recognized as Revenue during the period		Ending Balance at June 30, 2020
Realogy Franchise Group:
Deferred area development fees (a)	$	48	$	—	$	(5)	$	43
Deferred brand marketing fund fees (b)	13		22		(32)		3
Other deferred income related to revenue contracts	11		14		(14)		11
Total Realogy Franchise Group	72		36		(51)		57
Realogy Brokerage Group:
Advanced commissions related to development business (c)	9		2		(2)		9
Other deferred income related to revenue contracts	4		1		(2)		3
Total Realogy Brokerage Group	13		3		(4)		12
Total	$	85	$	39	$	(55)	$	69

_______________

(b)Revenues recognized include intercompany marketing fees paid by Realogy Brokerage Group.

(c)New development closings generally have a development period of between 18 and 24 months from contracted date to closing.

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations and Disposal Groups (Tables)

6 Months Ended

Jun. 30, 2020

Disposal Groups, Including Discontinued Operations


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net revenues	$	48	$	71	$	100	$	131
Total expenses	61		70		119		147
(Loss) income from discontinued operations	(13)		1		(19)		(16)
Estimated loss on the sale of discontinued operations (a)	(44)		—		(74)		—
Income tax benefit from discontinued operations	(16)		—		(25)		(3)
Net (loss) income from discontinued operations	$	(41)	$	1	$	(68)	$	(13)

_______________

(a)Adjustment to record assets and liabilities held for sale at the lower of carrying value or fair value less any costs to sell based on the estimated net purchase price.

Assets and liabilities held for sale related to discontinued operations presented in the Condensed Consolidated Balance Sheets at June 30, 2020 and December 31, 2019 are as follows:


	June 30, 2020		December 31, 2019
Carrying amounts of the major classes of assets held for sale
Cash and cash equivalents	$	11	$	28
Restricted cash	7		3
Trade receivables	35		46
Relocation receivables	190		203
Other current assets	11		12
Property and equipment, net	41		36
Operating lease assets, net	24		36
Goodwill	176		176
Trademarks	76		76
Other intangibles, net	156		156
Allowance for reduction of assets held for sale (a)	(96)		(22)
Total assets classified as held for sale	$	631	$	750

Carrying amounts of the major classes of liabilities held for sale
Accounts payable	$	35	$	53
Securitization obligations	113		206
Current portion of operating lease liabilities	5		6
Accrued expenses and other current liabilities	52		62
Long-term operating lease liabilities	26		29
Total liabilities classified as held for sale	$	231	$	356

_______________

(a)Adjustment to record assets and liabilities held for sale at the lower of carrying value or fair value less any costs to sell based on the Purchase Agreement.

Securitization Obligations Table

Securitization Obligations in the table above are further broken out as follows:


	June 30, 2020		December 31, 2019
Securitization Obligations:
Apple Ridge Funding LLC	$	106	$	195
Cartus Financing Limited	7		11
Total Securitization Obligations	$	113	$	206

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2020

Comparison of key assumptions used in impairment assessment

The following table provides a comparison of key assumptions used in the Company's impairment assessment performed in the first quarter of 2020 compared to the prior assessment performed in the fourth quarter of 2019:


	Discount Rate			Long-term Growth Rates
	First Quarter 2020	Fourth Quarter 2019	First Quarter 2020	Fourth Quarter 2019
Realogy Franchise Group	10.0%	8.5%	2.5%	2.5%
Realogy Brokerage Group	11.0%	9.0%	2.0%	2.0%
Realogy Title Group	11.0%	9.5%	2.5%	2.5%

Goodwill by segment and changes in the carrying amount

Goodwill by reporting unit and changes in the carrying amount are as follows:


	Realogy Franchise Group		Realogy Brokerage Group		Realogy Title Group		Total Company
Balance at December 31, 2019	$	2,476	$	669	$	155	$	3,300
Goodwill acquired	—		—		—		—
Impairment loss	—		(413)		—		(413)
Balance at June 30, 2020	$	2,476	$	256	$	155	$	2,887

Accumulated impairment losses (a)	$	1,160	$	808	$	324	$	2,292

_______________

Intangible Assets

Intangible assets are as follows:


	As of June 30, 2020										As of December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortizable—Franchise agreements (a)	$	2,019	$	893	$	1,126	$	2,019	$	859	$	1,160
Indefinite life—Trademarks (b) (c)	$	643			$	643	$	673			$	673
Other Intangibles
Amortizable—License agreements (d)	$	45	$	12	$	33	$	45	$	12	$	33
Amortizable—Customer relationships (e)	71		58		13		71		57		14
Indefinite life—Title plant shares (f)	19				19		19				19
Amortizable—Other (g)	23		18		5		27		21		6
Total Other Intangibles	$	158	$	88	$	70	$	162	$	90	$	72

_______________

(a)Generally amortized over a period of 30 years.

(b)Primarily related to real estate franchise brands which are expected to generate future cash flows for an indefinite period of time.

(c)Realogy Franchise Group trademarks was impaired by $30 million during the first quarter of 2020.

(d)Relates to the Sotheby’s International Realty^® and Better Homes and Gardens^® Real Estate agreements which are being amortized over 50 years (the contractual term of the license agreements).

(e)Relates to the customer relationships at Realogy Title Group and Realogy Brokerage Group. These relationships are being amortized over a period of 2 to 12 years.

(f)Ownership in a title plant is required to transact title insurance in certain states. The Company expects to generate future cash flows for an indefinite period of time.

(g)Consists of covenants not to compete which are amortized over their contract lives and other intangibles which are generally amortized over periods ranging from 5 to 10 years.

Intangible asset amortization expense

Intangible asset amortization expense is as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Franchise agreements	$	17	$	17	$	34	$	34
License agreements	—		—		—		—
Customer relationships	—		1		1		2
Other	1		1		2		2
Total	$	18	$	19	$	37	$	38

Accrued Expenses And Other Current Liabilities (Tables)

6 Months Ended

Jun. 30, 2020

Payables and Accruals [Abstract]

Accrued expenses and other current liabilities

Accrued expenses and other current liabilities consisted of:


	June 30, 2020		December 31, 2019
Accrued payroll and related employee costs	$	93	$	103
Accrued volume incentives	20		35
Accrued commissions	48		32
Restructuring accruals	8		11
Deferred income	34		43
Accrued interest	21		18
Current portion of finance lease liabilities	13		13
Due to former parent	19		18
Other	76		77
Total accrued expenses and other current liabilities	$	332	$	350

Short And Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Schedule of Total Indebtedness

Total indebtedness is as follows:


	June 30, 2020		December 31, 2019
Senior Secured Credit Facility:
Revolving Credit Facility	$	815	$	190
Term Loan B	1,041		1,045
Term Loan A Facility:
Term Loan A	700		714
7.625% Senior Secured Second Lien Notes	539		—
5.25% Senior Notes	—		548
4.875% Senior Notes	405		405
9.375% Senior Notes	543		543
Total Short-Term & Long-Term Debt	$	4,043	$	3,445

Schedule of Debt

As of June 30, 2020, the Company’s borrowing arrangements were as follows:


	Interest Rate	Expiration Date	Principal Amount		Unamortized Discount and Debt Issuance Costs	Net Amount
Senior Secured Credit Facility:
Revolving Credit Facility (1)	(2)	February 2023	$	815	$ *	$	815
Term Loan B	(3)	February 2025	1,053		12	1,041
Term Loan A Facility:
Term Loan A	(4)	February 2023	703		3	700
Senior Secured Second Lien Notes	7.625%	June 2025	550		11	539
Senior Notes	4.875%	June 2023	407		2	405
Senior Notes	9.375%	April 2027	550		7	543
Total						$	4,078	$	35	$	4,043

_______________

* The debt issuance costs related to our Revolving Credit Facility are classified as a deferred financing asset within other assets.

Schedule of Maturities of Long-term Debt


Year	Amount
Remaining 2020 (a)	$	839
2021	62
2022	81
2023	981
2024	11

_______________

Interest Rate Table for Revolving Credit Facility


Senior Secured Leverage Ratio	Applicable LIBOR Margin	Applicable ABR Margin
Greater than 3.50 to 1.00	2.50%	1.50%
Less than or equal to 3.50 to 1.00 but greater than or equal to 2.50 to 1.00	2.25%	1.25%
Less than 2.50 to 1.00 but greater than or equal to 2.00 to 1.00	2.00%	1.00%
Less than 2.00 to 1.00	1.75%	0.75%

Interest Rate Table for Term Loan A


Senior Secured Leverage Ratio	Applicable LIBOR Margin	Applicable ABR Margin
Greater than 3.50 to 1.00	2.50%	1.50%
Less than or equal to 3.50 to 1.00 but greater than or equal to 2.50 to 1.00	2.25%	1.25%
Less than 2.50 to 1.00 but greater than or equal to 2.00 to 1.00	2.00%	1.00%
Less than 2.00 to 1.00	1.75%	0.75%

Restructuring Costs Restructuring Costs (Tables)

6 Months Ended

Jun. 30, 2020

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The components of the restructuring charges for the three and six months ended June 30, 2020 and 2019 were as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Personnel-related costs (1)	$	4	$	5	$	7	$	13
Facility-related costs (2)	10		4		18		5
Total restructuring charges (3)	$	14	$	9	$	25	$	18

_______________

(1)Personnel-related costs consist of severance costs provided to employees who have been terminated and duplicate payroll costs during transition.

Schedule of Restructuring Reserve by Type of Cost

The following is a reconciliation of the beginning and ending reserve balances related to the Facility and Operational Efficiencies Program:


	Personnel-related costs		Facility-related costs		Total
Balance at December 31, 2019	$	6	$	5	$	11
Restructuring charges (1)	7		16		23
Costs paid or otherwise settled	(10)		(12)		(22)
Balance at June 30, 2020	$	3	$	9	$	12

_______________

Schedule of Expected Restructuring Costs by Cost Type

The following table shows the total costs currently expected to be incurred by type of cost related to the Facility and Operational Efficiencies Program:


	Total amount expected to be incurred		Amount incurred to date		Total amount remaining to be incurred
Personnel-related costs	$	30	$	28	$	2
Facility-related costs (1)	50		32		18
Other restructuring costs	1		1		—
Total	$	81	$	61	$	20

_______________

(1)Facility-related costs includes lease asset impairments expected to be incurred under the Facility and Operational Efficiencies Program.

Schedule of Expected Restructuring Costs by Business Segment

The following table shows the total costs currently expected to be incurred by reportable segment related to the Facility and Operational Efficiencies Program:


	Total amount expected to be incurred		Amount incurred to date		Total amount remaining to be incurred
Realogy Franchise Group	$	5	$	5	$	—
Realogy Brokerage Group	62		44		18
Realogy Title Group	5		5		—
Corporate and Other	9		7		2
Total	$	81	$	61	$	20

Equity (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Schedule of Stockholders Equity [Table Text Block]

Condensed Consolidated Statement of Changes in Equity for Realogy Holdings


	Three Months Ended June 30, 2020
	Common Stock					Additional Paid-In Capital		Accumulated Deficit		Accumulated Other Comprehensive Loss		Non- controlling Interests		Total Equity


	Shares	Amount
Balance at March 31, 2020	115.3	$	1	$	4,844	$	(3,157)	$	(57)	$	3	$	1,634
Net (loss) income	—	—		—		(14)		—		1		(13)
Other comprehensive income	—	—		—		—		1		—		1
Stock-based compensation	—	—		4		—		—		—		4
Issuance of shares for vesting of equity awards	0.1	—		—		—		—		—		—
Shares withheld for taxes on equity awards	—	—		(1)		—		—		—		(1)
Balance at June 30, 2020	115.4	$	1	$	4,847	$	(3,171)	$	(56)	$	4	$	1,625


	Three Months Ended June 30, 2019
	Common Stock					Additional Paid-In Capital		Accumulated Deficit		Accumulated Other Comprehensive Loss		Non- controlling Interests		Total Equity


	Shares	Amount
Balance at March 31, 2019	114.2	$	1	$	4,841	$	(2,606)	$	(50)	$	3	$	2,189
Net Income	—	—		—		69		—		1		70
Other comprehensive loss	—	—		—		—		(1)		—		(1)
Stock-based compensation	—	—		7		—		—		—		7
Issuance of shares for vesting of equity awards	0.1	—		—		—		—		—		—
Dividends declared ($0.09 per share)	—	—		(11)		—		—		(1)		(12)
Balance at June 30, 2019	114.3	$	1	$	4,837	$	(2,537)	$	(51)	$	3	$	2,253


	Six Months Ended June 30, 2020
	Common Stock					Additional Paid-In Capital		Accumulated Deficit		Accumulated Other Comprehensive Loss		Non- controlling Interests		Total Equity


	Shares	Amount
Balance at December 31, 2019	114.4	$	1	$	4,842	$	(2,695)	$	(56)	$	4	$	2,096
Net (loss) income	—	—		—		(476)		—		1		(475)
Stock-based compensation	—	—		10		—		—		—		10
Issuance of shares for vesting of equity awards	1.5	—		—		—		—		—		—
Shares withheld for taxes on equity awards	(0.5)	—		(5)		—		—		—		(5)
Dividends	—	—		—		—		—		(1)		(1)
Balance at June 30, 2020	115.4	$	1	$	4,847	$	(3,171)	$	(56)	$	4	$	1,625


	Six Months Ended June 30, 2019
	Common Stock					Additional Paid-In Capital		Accumulated Deficit		Accumulated Other Comprehensive Loss		Non- controlling Interests		Total Equity


	Shares	Amount
Balance at December 31, 2018	114.6	$	1	$	4,869	$	(2,507)	$	(52)	$	4	$	2,315
Net (loss) income	—	—		—		(30)		—		1		(29)
Other comprehensive income	—	—		—		—		1		—		1
Repurchase of common stock	(1.2)	—		(20)		—		—		—		(20)
Stock-based compensation	—	—		15		—		—		—		15
Issuance of shares for vesting of equity awards	1.3	—		—		—		—		—		—
Shares withheld for taxes on equity awards	(0.4)	—		(6)		—		—		—		(6)
Dividends declared ($0.18 per share)	—	—		(21)		—		—		(2)		(23)
Balance at June 30, 2019	114.3	$	1	$	4,837	$	(2,537)	$	(51)	$	3	$	2,253

Earnings (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of basic and diluted earnings (loss) per share:


	Three Months Ended June 30,						Six Months Ended June 30,
(in millions, except per share data)	2020		2019		2020		2019
Numerator:
Numerator for earnings (loss) per share—continuing operations
Net income (loss) from continuing operations	$	28	$	69	$	(407)	$	(16)
Less: Net income attributable to noncontrolling interests	(1)		(1)		(1)		(1)
Net income (loss) from continuing operations attributable to Realogy Holdings	$	27	$	68	$	(408)	$	(17)
Numerator for earnings (loss) per share—discontinued operations
Net (loss) income from discontinued operations	$	(41)	$	1	$	(68)	$	(13)
Net (loss) income attributable to Realogy Holdings shareholders	$	(14)	$	69	$	(476)	$	(30)
Denominator:
Weighted average common shares outstanding (denominator for basic (loss) earnings per share calculation)	115.4		114.3		115.0		114.1
Dilutive effect of stock-based compensation (a)(b)	0.8		0.6		—		—
Weighted average common shares outstanding (denominator for diluted (loss) earnings per share calculation)	116.2		114.9		115.0		114.1
Basic (loss) earnings per share attributable to Realogy Holdings shareholders:
Basic earnings (loss) per share from continuing operations	$	0.23	$	0.59	$	(3.55)	$	(0.15)
Basic (loss) earnings per share from discontinued operations	(0.35)		0.01		(0.59)		(0.11)
Basic (loss) earnings per share	$	(0.12)	$	0.60	$	(4.14)	$	(0.26)
Diluted (loss) earnings per share attributable to Realogy Holdings shareholders:
Diluted earnings (loss) per share from continuing operations	$	0.23	$	0.59	$	(3.55)	$	(0.15)
Diluted (loss) earnings per share from discontinued operations	(0.35)		0.01		(0.59)		(0.11)
Diluted (loss) earnings per share	$	(0.12)	$	0.60	$	(4.14)	$	(0.26)

_______________

Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]


	Revenues (a) (b)
	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Realogy Franchise Group	$	179	$	260	$	347	$	439
Realogy Brokerage Group	933		1,331		1,802		2,147
Realogy Title Group	160		160		297		274
Corporate and Other (c)	(65)		(87)		(123)		(142)
Total Company	$	1,207	$	1,664	$	2,323	$	2,718

_______________

(c)Includes the elimination of transactions between segments.


	Operating EBITDA
	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Realogy Franchise Group	$	122	$	180	$	223	$	278
Realogy Brokerage Group	15		47		(36)		(15)
Realogy Title Group	61		32		73		23
Corporate and Other (a)	(26)		(24)		(51)		(49)
Total continuing operations	172		235		209		237

Less: Depreciation and amortization	46		43		91		84
Interest expense, net	59		80		160		143
Income tax expense (benefit)	11		33		(121)		1
Restructuring costs, net (b)	14		9		25		18
Impairments (c)	7		2		454		3
Loss on the early extinguishment of debt (d)	8		—		8		5
Net income (loss) from continuing operations attributable to Realogy Holdings and Realogy Group	27		68		(408)		(17)
Net (loss) income from discontinued operations	(41)		1		(68)		(13)
Net (loss) income attributable to Realogy Holdings and Realogy Group	$	(14)	$	69	$	(476)	$	(30)

_______________

(a)Includes the elimination of transactions between segments.

(b)The three months ended June 30, 2020 includes restructuring charges of $12 million at Realogy Brokerage Group and $2 million at Realogy Title Group.

The six months ended June 30, 2020 includes restructuring charges of $1 million at Realogy Franchise Group, $21 million at Realogy Brokerage Group and $3 million at Realogy Title Group.

(c)Impairments for the three months ended June 30, 2020 and for the three and six months ended June 30, 2019 relate to lease asset impairments.

(d)Loss on the early extinguishment of debt is recorded in Corporate and Other.

Basis Of Presentation Financial Instruments - Fair Value Measurements (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Liabilities Rollforward [Roll Forward]
Fair value of contingent consideration at December 31, 2019	$ 4
Additions: contingent consideration related to acquisitions completed during the period	1
Reductions: payments of contingent consideration	0
Changes in fair value (reflected in general and administrative expenses)	0
Fair value of contingent consideration at June 30, 2020	5
Fair Value, Measurements, Recurring \| Deferred Compensation Plan Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets (included in other non-current assets)	1	$ 2
Fair Value, Measurements, Recurring \| Deferred Compensation Plan Assets \| Level I
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets (included in other non-current assets)	1	2
Fair Value, Measurements, Recurring \| Deferred Compensation Plan Assets \| Level II
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets (included in other non-current assets)	0	0
Fair Value, Measurements, Recurring \| Deferred Compensation Plan Assets \| Level III
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets (included in other non-current assets)	0	0
Fair Value, Measurements, Recurring \| Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps (included in other current and non-current liabilities)	99	47
Fair Value, Measurements, Recurring \| Interest Rate Swap \| Level I
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps (included in other current and non-current liabilities)	0	0
Fair Value, Measurements, Recurring \| Interest Rate Swap \| Level II
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps (included in other current and non-current liabilities)	99	47
Fair Value, Measurements, Recurring \| Interest Rate Swap \| Level III
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps (included in other current and non-current liabilities)	0	0
Fair Value, Measurements, Recurring \| Contingent Consideration for Acquisitions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration for acquisitions (included in accrued expenses and other current liabilities and other non-current liabilities)	5	4
Fair Value, Measurements, Recurring \| Contingent Consideration for Acquisitions \| Level I
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration for acquisitions (included in accrued expenses and other current liabilities and other non-current liabilities)	0	0
Fair Value, Measurements, Recurring \| Contingent Consideration for Acquisitions \| Level II
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration for acquisitions (included in accrued expenses and other current liabilities and other non-current liabilities)	0	0
Fair Value, Measurements, Recurring \| Contingent Consideration for Acquisitions \| Level III
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration for acquisitions (included in accrued expenses and other current liabilities and other non-current liabilities)	$ 5	$ 4

Basis Of Presentation Financial Instruments - Fair Value Indebtedness Table (Details) - USD ($)
$ in Millions

Jun. 30, 2020

Dec. 31, 2019

Feb. 28, 2018

$ 4,078

1,053

^[1]

$ 1,058

$ 1,080

Secured Debt | Term Loan A

^[2]

963

1,048

703

^[3]

717

$ 750

Secured Debt | 7.625% Senior Secured Second Lien Notes

^[2]

650

705

550

Senior Notes | 5.25% Senior Notes

^[2]

549

550

Senior Notes | 4.875% Senior Notes

^[2]

557

407

Senior Notes | 9.375% Senior Notes

^[2]

383

401

550

^[2]

513

572

Line of credit facility fair value

815

^[4],[5]

190

^[2]

$ 815

$ 190

[1]	The Term Loan B provides for quarterly amortization payments totaling 1% per annum of the original principal amount. The interest rate with respect to term loans under the Term Loan B is based on, at the Company’s option, (a) adjusted LIBOR plus 2.25% (with a LIBOR floor of 0.75%) or (b) ABR plus 1.25% (with an ABR floor of 1.75%).
[2]	The fair value of the Company's indebtedness is categorized as Level II.
[3]	The Term Loan A provides for quarterly amortization payments, based on a percentage of the original principal amount of the Term Loan A, as follows: 0.625% per quarter from June 30, 2018 to March 31, 2020; 1.25% per quarter from June 30, 2020 to March 31, 2021; 1.875% per quarter from June 30, 2021 to March 31, 2022; and 2.50% per quarter for periods ending on or after June 30, 2022, with the balance of the Term Loan A due at maturity on February 8, 2023. The interest rates with respect to the Term Loan A are based on, at the Company's option, (a) adjusted LIBOR plus an additional margin or (b) ABR plus an additional margin, in each case subject to adjustment based on the then current senior secured leverage ratio. Based on the previous quarter's senior secured leverage ratio, the LIBOR margin was 2.25% and the ABR margin was 1.25% for the three months ended June 30, 2020.
[4]	In response to the rapidly evolving COVID-19 pandemic, the Company borrowed an additional $400 million under the Revolving Credit Facility in March 2020 as a proactive measure intended to increase liquidity to support our operations and supplement available cash on hand. As of June 30, 2020, the $1,425 million Revolving Credit Facility had outstanding borrowings of $815 million, as well as $40 million of outstanding undrawn letters of credit. The Revolving Credit Facility expires in February 2023 but is classified on the balance sheet as current due to the revolving nature and terms and conditions of the facility. On August 3, 2020, the Company had $815 million in outstanding borrowings under the Revolving Credit Facility and $40 million of outstanding undrawn letters of credit.
[5]	Interest rates with respect to revolving loans under the Senior Secured Credit Facility at June 30, 2020 were based on, at the Company's option, (a) adjusted London Interbank Offering Rate ("LIBOR") plus an additional margin or (b) JP Morgan Chase Bank, N.A.'s prime rate ("ABR") plus an additional margin, in each case subject to adjustment based on the then current senior secured leverage ratio. Based on the previous quarter's senior secured leverage ratio, the LIBOR margin was 2.25% and the ABR margin was 1.25% for the three months ended June 30, 2020.

Basis Of Presentation Equity Method Investments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Equity in earnings of unconsolidated entities	$ (36)	$ (7)	$ (45)	$ (8)
Dividends received from unconsolidated entities			22	1
Payments to Acquire Equity Method Investments			2	10
Guaranteed Rate Affinity
Schedule of Equity Method Investments [Line Items]
Carrying value of equity method investments	84		84		$ 60
Equity in earnings of unconsolidated entities	(35)	(6)	(44)	(7)
Dividends received from unconsolidated entities			20	0
Payments to Acquire Equity Method Investments				2
Other Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Carrying value of equity method investments	8		8		$ 9
Equity in earnings of unconsolidated entities	$ (1)	$ (1)	(1)	(1)
Dividends received from unconsolidated entities			$ 2	$ 1

Basis Of Presentation Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income tax expense (benefit) from continuing operations	$ 11	$ 33	$ (121)	$ 1

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Basis Of Presentation Derivative Instruments (Details) - Interest Rate Swap - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Dec. 31, 2019

Not Designated as Hedging Instrument | Interest expense

$ 1,600

Loss Recognized on Derivatives

$ 24

$ 38

Not Designated as Hedging Instrument | Other current and non-current liabilities

Interest rate swap contract - other current and non-current liabilities

$ 47

August 2015

^[1]

600

November 2017

450

August 2020

^[1]

400

November 2022

$ 150

[1]	Interest rate swaps with a notional value of $600 million expire on August 7, 2020, and interest rate swaps with a notional value of $400 million commence on August 14, 2020.

Basis Of Presentation Revenue Recognition - Disaggregation of Revenue (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

^[1],[2]

$ 1,207

$ 1,664

$ 2,323

$ 2,718

Gross commission income

^[3]

919

1,310

1,769

2,109

Service revenue

^[4]

172

183

323

312

Franchise fees

^[5]

112

156

182

Other

^[6]

115

Realogy Franchise Group | Gross commission income

^[1],[2]

179

260

347

439

Realogy Franchise Group | Service revenue

^[3]

Realogy Franchise Group | Franchise fees

^[4]

Realogy Franchise Group | Other

^[5]

148

196

275

319

^[6]

Realogy Brokerage Group | Gross commission income

^[1],[2]

933

1,331

1,802

2,147

Realogy Brokerage Group | Service revenue

^[3]

919

1,310

1,769

2,109

Realogy Brokerage Group | Franchise fees

^[4]

Realogy Brokerage Group | Other

^[5]

^[6]

Realogy Title Group | Gross commission income

^[1],[2]

160

297

274

Realogy Title Group | Service revenue

^[3]

Realogy Title Group | Franchise fees

^[4]

154

287

265

Realogy Title Group | Other

^[5]

^[6]

Corporate and Other | Gross commission income

^[1],[2],[7]

(65)

(87)

(123)

(142)

Corporate and Other | Service revenue

^[3]

Corporate and Other | Franchise fees

^[4]

Corporate and Other | Other

^[5]

(63)

(84)

(119)

(137)

Revenue Recognition, Multiple-deliverable Arrangements [Line Items]

^[6]

$ (2)

$ (3)

$ (4)

$ (5)

[1]	Revenues for Realogy Franchise Group include intercompany referral commissions related to Realogy Advantage Broker Network paid by Realogy Brokerage Group of $3 million and $5 million for the three and six months ended June 30, 2020, respectively, and $5 million and $8 million for the three and six months ended June 30, 2019, respectively. Such amounts are recorded as contra-revenues by Realogy Brokerage Group. There are no other material intersegment transactions.
[2]	Transactions between segments are eliminated in consolidation. Revenues for the Realogy Franchise Group include intercompany royalties and marketing fees paid by Realogy Brokerage Group of $65 million and $123 million for the three and six months ended June 30, 2020, respectively, and $87 million and $142 million for the three and six months ended June 30, 2019, respectively. Such amounts are eliminated through the Corporate and Other line.
[3]	Consists primarily of revenues related to gross commission income at Realogy Brokerage Group, which is recognized at a point in time at the closing of a homesale transaction.
[4]	Service revenue primarily consists of title and escrow fees at Realogy Title Group, which are recognized at a point in time at the closing of a homesale transaction.
[5]	Franchise fees at Realogy Franchise Group primarily include domestic royalties which are recognized at a point in time when the underlying franchisee revenue is earned (upon close of the homesale transaction).
[6]	Other revenue is comprised of brand marketing funds received at Realogy Franchise Group from franchisees, third-party listing fees in 2019 and other miscellaneous revenues across all of the business segments.
[7]	Includes the elimination of transactions between segments.

Basis Of Presentation Revenue Recognition - Deferred Revenue (Details) - USD ($)
$ in Millions

6 Months Ended

Jun. 30, 2020

Jan. 01, 2020

$ 69

$ 85

(55)

Revenue Recognition, Multiple-deliverable Arrangements [Line Items]

(51)

Revenue Recognition, Multiple-deliverable Arrangements [Line Items]

Minimum | Realogy Brokerage Group

$ (4)

Revenue Recognition, Multiple-deliverable Arrangements [Line Items]

New Development Period

18 months

Maximum | Realogy Brokerage Group

Revenue Recognition, Multiple-deliverable Arrangements [Line Items]

New Development Period

24 months

International Franchise Rights | Realogy Franchise Group

Revenue Recognition, Multiple-deliverable Arrangements [Line Items]

Finite-Lived Intangible Asset, Useful Life

25 years

Area Development Fees | Realogy Franchise Group

Revenue Recognition, Multiple-deliverable Arrangements [Line Items]

^[1]

$ 43

^[1]

Brand Marketing Fees | Realogy Franchise Group

^[1]

(5)

Revenue Recognition, Multiple-deliverable Arrangements [Line Items]

^[2]

^[2]

Deferred Income, Other | Realogy Franchise Group

^[2]

(32)

Revenue Recognition, Multiple-deliverable Arrangements [Line Items]

Deferred Income, Other | Realogy Brokerage Group

(14)

Revenue Recognition, Multiple-deliverable Arrangements [Line Items]

New Development Business | Realogy Brokerage Group

(2)

Revenue Recognition, Multiple-deliverable Arrangements [Line Items]

^[3]

$ 9

^[3]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

^[3]

$ (2)

[1]	The Company collects initial area development fees ("ADF") for international territory transactions, which are recorded as deferred revenue when received and recognized into franchise revenue over the average 25 year life of the related franchise agreement as consideration for the right to access and benefit from Realogy’s brands. In the event an ADF agreement is terminated prior to the end of its term, the unamortized deferred revenue balance will be recognized into revenue immediately upon termination.
[2]	Revenues recognized include intercompany marketing fees paid by Realogy Brokerage Group.
[3]	New development closings generally have a development period of between 18 and 24 months from contracted date to closing.

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Lessee Disclosure - Supplemental Cash Flow Information [Abstract]
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	$ 7	$ 9

Discontinued Operations and Disposal Groups (Details)
£ in Millions

3 Months Ended

6 Months Ended

Nov. 07, 2019

USD ($)

Jun. 30, 2020

USD ($)

Jun. 30, 2019

USD ($)

Jun. 30, 2020

USD ($)

Jun. 30, 2019

USD ($)

Jun. 30, 2020

GBP (£)

May 31, 2020

USD ($)

Dec. 31, 2019

USD ($)

Expected cash proceeds at closing from the planned sale of employee relocation business

$ 375

Expected deferred payment from the planned sale of employee relocation business

$ 25

Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]

(Loss) income from discontinued operations

$ 48,000,000

$ 71,000,000

$ 100,000,000

$ 131,000,000

Total expenses

61,000,000

70,000,000

119,000,000

147,000,000

(13,000,000)

1,000,000

(19,000,000)

(16,000,000)

Estimated loss on the sale of discontinued operations (a)

^[1]

(44,000,000)

(74,000,000)

Income tax benefit from discontinued operations

(16,000,000)

(25,000,000)

(3,000,000)

Cash and cash equivalents

(41,000,000)

1,000,000

(68,000,000)

(13,000,000)

ASSETS

11,000,000

$ 28,000,000

Restricted cash

7,000,000

3,000,000

Trade receivables

35,000,000

46,000,000

Relocation receivables

190,000,000

203,000,000

Other current assets

11,000,000

12,000,000

Property and equipment, net

41,000,000

36,000,000

Operating lease assets, net

24,000,000

36,000,000

Goodwill

176,000,000

Trademarks

76,000,000

Other intangibles, net

156,000,000

Allowance for reduction of assets held for sale (a)

^[2]

(96,000,000)

(22,000,000)

Total assets classified as held for sale

631,000,000

750,000,000

Liabilities [Abstract]

Accounts payable

35,000,000

53,000,000

Securitization obligations

113,000,000

206,000,000

Current portion of operating lease liabilities

5,000,000

6,000,000

Accrued expenses and other current liabilities

52,000,000

62,000,000

Long-term operating lease liabilities

26,000,000

29,000,000

Total liabilities classified as held for sale

231,000,000

356,000,000

Securitization obligation | Cartus Relocation Services

Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]

Other Secured Financings

113,000,000

206,000,000

Relocation receivables and other related relocation assets that collateralize securitization obligations

182,000,000

200,000,000

Interest Expense, Debt

$ 1,000,000

$ 2,000,000

$ 3,000,000

$ 4,000,000

Weighted average interest rate, securitization obligations

3.80%

4.40%

3.80%

4.40%

3.80%

Apple Ridge Funding LLC | Securitization obligation | Cartus Relocation Services

Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]

Other Secured Financings

$ 106,000,000

195,000,000

Total capacity, securitization obligations

200,000,000

$ 250

Debt Instrument, Unused Borrowing Capacity, Amount

94,000,000

Cartus Financing Limited | Securitization obligation | Cartus Relocation Services

Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]

Other Secured Financings

7,000,000

$ 11,000,000

Debt Instrument, Unused Borrowing Capacity, Amount

$ 12,000,000

Cartus Financing Limited | Securitization obligation | Working Capital Facility | Cartus Relocation Services

Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]

Total capacity, securitization obligations | £

£ 5

Cartus Financing Limited | Securitization obligation | Revolving Credit Facility | Cartus Relocation Services

Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]

Total capacity, securitization obligations | £

£ 10

[1]	Adjustment to record assets and liabilities held for sale at the lower of carrying value or fair value less any costs to sell based on the estimated net purchase price.
[2]	Adjustment to record assets and liabilities held for sale at the lower of carrying value or fair value less any costs to sell based on the Purchase Agreement.

Impairment of Goodwill and Other Indefinite-lived Intangible Assets (Details) - USD ($)	3 Months Ended				6 Months Ended
	Mar. 31, 2020	Sep. 30, 2019	Dec. 31, 2008	Dec. 31, 2007	Jun. 30, 2020	Dec. 31, 2019
Impairment of Goodwill and Other Indefinite-lived Intangible Assets [Line Items]
Impairment loss	$ (413,000,000)	$ (237)	$ (1,153)	$ (489)	$ (413,000,000)
Realogy Franchise Group
Impairment of Goodwill and Other Indefinite-lived Intangible Assets [Line Items]
Impairment loss					0
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount	700.00%
Realogy Franchise Group \| Measurement Input, Discount Rate
Impairment of Goodwill and Other Indefinite-lived Intangible Assets [Line Items]
Impairment Assessment Assumption	10.00%					8.50%
Realogy Franchise Group \| Measurement Input, Long-term Revenue Growth Rate
Impairment of Goodwill and Other Indefinite-lived Intangible Assets [Line Items]
Impairment Assessment Assumption	2.50%					2.50%
Realogy Franchise Group \| Measurement Input, Hypothetical Discount Rate Increase
Impairment of Goodwill and Other Indefinite-lived Intangible Assets [Line Items]
Impairment Assessment Assumption	10000.00%
Realogy Franchise Group \| Indefinite life—Trademarks (b) (c)
Impairment of Goodwill and Other Indefinite-lived Intangible Assets [Line Items]
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)	$ 30,000,000
Realogy Brokerage Group
Impairment of Goodwill and Other Indefinite-lived Intangible Assets [Line Items]
Impairment loss					(413,000,000)
Income tax benefit associated with Goodwill Impairment Charge	99,000,000
Net Decrease in Carrying Value	$ (314,000,000)
Realogy Brokerage Group \| Measurement Input, Discount Rate
Impairment of Goodwill and Other Indefinite-lived Intangible Assets [Line Items]
Impairment Assessment Assumption	11.00%					9.00%
Realogy Brokerage Group \| Measurement Input, Long-term Revenue Growth Rate
Impairment of Goodwill and Other Indefinite-lived Intangible Assets [Line Items]
Impairment Assessment Assumption	2.00%					2.00%
Realogy Title Group
Impairment of Goodwill and Other Indefinite-lived Intangible Assets [Line Items]
Impairment loss					$ 0
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount	500.00%
Realogy Title Group \| Measurement Input, Discount Rate
Impairment of Goodwill and Other Indefinite-lived Intangible Assets [Line Items]
Impairment Assessment Assumption	11.00%					9.50%
Realogy Title Group \| Measurement Input, Long-term Revenue Growth Rate
Impairment of Goodwill and Other Indefinite-lived Intangible Assets [Line Items]
Impairment Assessment Assumption	2.50%					2.50%
Realogy Title Group \| Measurement Input, Hypothetical Discount Rate Increase
Impairment of Goodwill and Other Indefinite-lived Intangible Assets [Line Items]
Impairment Assessment Assumption	10000.00%

Goodwill (Details) - USD ($)

3 Months Ended

6 Months Ended

Mar. 31, 2020

Sep. 30, 2019

Dec. 31, 2008

Dec. 31, 2007

Jun. 30, 2020

$ 3,300,000,000

(413,000,000)

$ (237)

$ (1,153)

$ (489)

(413,000,000)

2,887,000,000

^[1]

2,292,000,000

(413,000,000)

$ (237)

$ (1,153)

$ (489)

(413,000,000)

2,476,000,000

2,476,000,000

^[1]

1,160,000,000

669,000,000

(413,000,000)

256,000,000

^[1]

808,000,000

(413,000,000)

$ 155,000,000

155,000,000

155,000,000

^[1]

324,000,000

Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

$ 0

[1]	Includes impairment charges which reduced goodwill by $413 million, $237 million, $1,153 million and $489 million during the first quarter of 2020, third quarter of 2019, fourth quarter of 2008 and fourth quarter of 2007, respectively.

Intangible Assets (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Mar. 31, 2020

Jun. 30, 2020

Dec. 31, 2019

Carrying amount of total other intangibles

$ 158

$ 162

Net carrying amount of finite-lived and indefinite-lived intangible assets

Indefinite life—Trademarks (b) (c)

Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Gross carrying amount of indefinite-lived intangible assets

^[1],[2]

643

673

Indefinite life—Title plant shares (f)

Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Gross carrying amount of indefinite-lived intangible assets

^[3]

Amortizable—Franchise agreements (a)

Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Gross carrying amount of finite-lived intangible assets

^[4]

2,019

Net carrying amount of finite-lived intangible assets

^[4]

893

859

^[4]

1,126

1,160

Amortizable—License agreements (d)

Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Gross carrying amount of finite-lived intangible assets

^[5]

Net carrying amount of finite-lived intangible assets

^[5]

^[5]

$ 33

Amortizable—Customer relationships (e)

50 years

Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Gross carrying amount of finite-lived intangible assets

^[6]

$ 71

Net carrying amount of finite-lived intangible assets

^[6]

^[6]

Amortizable—Other (g)

Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Gross carrying amount of finite-lived intangible assets

^[7]

Net carrying amount of finite-lived intangible assets

^[7]

^[7]

$ 5

$ 6

Realogy Franchise Group | Indefinite life—Trademarks (b) (c)

Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)

$ 30

Realogy Franchise Group | Amortizable—Franchise agreements (a)

Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Minimum | Amortizable—Customer relationships (e)

30 years

Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Minimum | Amortizable—Other (g)

2 years

Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Maximum | Amortizable—Customer relationships (e)

5 years

Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Maximum | Amortizable—Other (g)

12 years

Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Schedule of Long-term and Short-term Debt Instruments [Line Items]

10 years

[1]	Primarily related to real estate franchise brands which are expected to generate future cash flows for an indefinite period of time.
[2]	Realogy Franchise Group trademarks was impaired by $30 million during the first quarter of 2020.
[3]	Ownership in a title plant is required to transact title insurance in certain states. The Company expects to generate future cash flows for an indefinite period of time.
[4]	Generally amortized over a period of 30 years.
[5]	Relates to the Sotheby’s International Realty^® and Better Homes and Gardens^® Real Estate agreements which are being amortized over 50 years (the contractual term of the license agreements).
[6]	Relates to the customer relationships at Realogy Title Group and Realogy Brokerage Group. These relationships are being amortized over a period of 2 to 12 years.
[7]	Consists of covenants not to compete which are amortized over their contract lives and other intangibles which are generally amortized over periods ranging from 5 to 10 years.

Intangible Assets - Amortization Expense (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020 USD ($) Years	Jun. 30, 2019 USD ($)	Jun. 30, 2020 USD ($) Years	Jun. 30, 2019 USD ($)
Finite-Lived Intangible Assets [Line Items]
Intangible asset amortization expense	$ 18	$ 19	$ 37	$ 38
The number of succeeding years for which amortization expense is disclosed \| Years	4		4
Amortization expense for the remainder of the Year	$ 37		$ 37
Amortization expense for Year Two	72		72
Amortization expense for Year Three	70		70
Amortization expense for Year Four	70		70
Amortization expense for Year Five	70		70
Amortization expense Thereafter	858		858
Amortizable—Franchise agreements (a)
Finite-Lived Intangible Assets [Line Items]
Intangible asset amortization expense	17	17	34	34
Amortizable—License agreements (d)
Finite-Lived Intangible Assets [Line Items]
Intangible asset amortization expense	0	0	0	0
Amortizable—Customer relationships (e)
Finite-Lived Intangible Assets [Line Items]
Intangible asset amortization expense	0	1	1	2
Amortizable—Other (g)
Finite-Lived Intangible Assets [Line Items]
Intangible asset amortization expense	$ 1	$ 1	$ 2	$ 2

Accrued Expenses And Other Current Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Accrued payroll and related employee costs	$ 93	$ 103
Accrued volume incentives	20	35
Accrued commissions	48	32
Restructuring accruals	8	11
Deferred income	34	43
Accrued interest	21	18
Current portion of finance lease liabilities	13	13
Due to former parent	19	18
Other	76	77
Total accrued expenses and other current liabilities	$ 332	$ 350

Short And Long-Term Debt Schedule of Total Indebtedness (Details) - USD ($)
$ in Millions

Jun. 30, 2020

Dec. 31, 2019

Total Short-Term & Long-Term Debt

$ 4,043

4,043

$ 3,445

Schedule of Long-term and Short-term Debt Instruments [Line Items]

Secured Debt | Term Loan A

1,041

^[1]

1,045

Schedule of Long-term and Short-term Debt Instruments [Line Items]

Secured Debt | 7.625% Senior Secured Second Lien Notes

700

^[2]

714

Schedule of Long-term and Short-term Debt Instruments [Line Items]

Senior Notes | 5.25% Senior Notes

539

Schedule of Long-term and Short-term Debt Instruments [Line Items]

Senior Notes | 4.875% Senior Notes

548

Schedule of Long-term and Short-term Debt Instruments [Line Items]

Senior Notes | 9.375% Senior Notes

405

Schedule of Long-term and Short-term Debt Instruments [Line Items]

543

Schedule of Long-term and Short-term Debt Instruments [Line Items]

$ 815

^[3],[4]

$ 190

[1]	The Term Loan B provides for quarterly amortization payments totaling 1% per annum of the original principal amount. The interest rate with respect to term loans under the Term Loan B is based on, at the Company’s option, (a) adjusted LIBOR plus 2.25% (with a LIBOR floor of 0.75%) or (b) ABR plus 1.25% (with an ABR floor of 1.75%).
[2]	The Term Loan A provides for quarterly amortization payments, based on a percentage of the original principal amount of the Term Loan A, as follows: 0.625% per quarter from June 30, 2018 to March 31, 2020; 1.25% per quarter from June 30, 2020 to March 31, 2021; 1.875% per quarter from June 30, 2021 to March 31, 2022; and 2.50% per quarter for periods ending on or after June 30, 2022, with the balance of the Term Loan A due at maturity on February 8, 2023. The interest rates with respect to the Term Loan A are based on, at the Company's option, (a) adjusted LIBOR plus an additional margin or (b) ABR plus an additional margin, in each case subject to adjustment based on the then current senior secured leverage ratio. Based on the previous quarter's senior secured leverage ratio, the LIBOR margin was 2.25% and the ABR margin was 1.25% for the three months ended June 30, 2020.
[3]	In response to the rapidly evolving COVID-19 pandemic, the Company borrowed an additional $400 million under the Revolving Credit Facility in March 2020 as a proactive measure intended to increase liquidity to support our operations and supplement available cash on hand. As of June 30, 2020, the $1,425 million Revolving Credit Facility had outstanding borrowings of $815 million, as well as $40 million of outstanding undrawn letters of credit. The Revolving Credit Facility expires in February 2023 but is classified on the balance sheet as current due to the revolving nature and terms and conditions of the facility. On August 3, 2020, the Company had $815 million in outstanding borrowings under the Revolving Credit Facility and $40 million of outstanding undrawn letters of credit.
[4]	Interest rates with respect to revolving loans under the Senior Secured Credit Facility at June 30, 2020 were based on, at the Company's option, (a) adjusted London Interbank Offering Rate ("LIBOR") plus an additional margin or (b) JP Morgan Chase Bank, N.A.'s prime rate ("ABR") plus an additional margin, in each case subject to adjustment based on the then current senior secured leverage ratio. Based on the previous quarter's senior secured leverage ratio, the LIBOR margin was 2.25% and the ABR margin was 1.25% for the three months ended June 30, 2020.

Short And Long-Term Debt Indebtedness Table (Details) - USD ($)

6 Months Ended

Jun. 30, 2020

Aug. 03, 2020

Dec. 31, 2019

Feb. 28, 2018

$ 4,078,000,000

Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net

35,000,000

$ 4,043,000,000

LIBOR

LIBOR

ABR

ABR

Term Loan B | LIBOR

Debt Instrument, Basis Spread on Variable Rate, Floor

2.25%

0.75%

Term Loan B | ABR

Debt Instrument, Basis Spread on Variable Rate, Floor

1.25%

1.75%

$ 1,053,000,000

^[1]

$ 1,058,000,000

$ 1,080,000,000

Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net

^[1]

12,000,000

Annual percentage of original principal amount for quarterly amortization payments

$ 1,041,000,000

^[1]

1,045,000,000

1.00%

Secured Debt | Term Loan A

$ 703,000,000

^[2]

717,000,000

$ 750,000,000

Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net

^[2]

3,000,000

Secured Debt | 7.625% Senior Secured Second Lien Notes

700,000,000

^[2]

714,000,000

550,000,000

Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net

11,000,000

$ 539,000,000

Secured Debt | June 2018 to March 2020 | Term Loan A

7.625%

Quarterly percentage of original principal amount for quarterly amortization payments

0.625%

Secured Debt | June 2020 to March 2021 | Term Loan A

Quarterly percentage of original principal amount for quarterly amortization payments

1.25%

Secured Debt | June 2021 to March 2022 | Term Loan A

Quarterly percentage of original principal amount for quarterly amortization payments

1.875%

Secured Debt | June 2022 to February 2023 | Term Loan A

Quarterly percentage of original principal amount for quarterly amortization payments

2.50%

Secured Debt | Less than or equal to 3.50 to 1.00 but greater than or equal to 2.50 to 1.00 | Term Loan A | LIBOR

Secured Debt | Less than or equal to 3.50 to 1.00 but greater than or equal to 2.50 to 1.00 | Term Loan A | ABR

2.25%

Senior Notes | 4.875% Senior Notes

1.25%

$ 407,000,000

407,000,000

Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net

2,000,000

$ 405,000,000

405,000,000

Senior Notes | 9.375% Senior Notes

4.875%

$ 550,000,000

550,000,000

Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net

7,000,000

$ 543,000,000

543,000,000

9.375%

$ 815,000,000

^[3],[4]

190,000,000

Outstanding borrowings, short-term debt, line of credit facility

815,000,000

^[3],[4]

190,000,000

Total capacity, short-term debt, line of credit facility

815,000,000

^[3],[4]

$ 190,000,000

^[4]

1,425,000,000

Line of Credit | Additional borrowing under Revolving Credit Facility

400

Outstanding borrowings, short-term debt, line of credit facility

400

Line of Credit | Less than or equal to 3.50 to 1.00 but greater than or equal to 2.50 to 1.00 | Revolving Credit Facility | LIBOR

$ 400

Line of Credit | Less than or equal to 3.50 to 1.00 but greater than or equal to 2.50 to 1.00 | Revolving Credit Facility | ABR

2.25%

Letter of Credit | Revolving Credit Facility

1.25%

$ 40,000,000

Outstanding borrowings, short-term debt, line of credit facility

40,000,000

Subsequent Event | Line of Credit | Revolving Credit Facility

$ 40,000,000

^[4]

$ 815,000,000

Outstanding borrowings, short-term debt, line of credit facility

^[4]

815,000,000

Subsequent Event | Letter of Credit | Revolving Credit Facility

^[4]

815,000,000

40,000,000

Outstanding borrowings, short-term debt, line of credit facility

40,000,000

$ 40,000,000

[1]	The Term Loan B provides for quarterly amortization payments totaling 1% per annum of the original principal amount. The interest rate with respect to term loans under the Term Loan B is based on, at the Company’s option, (a) adjusted LIBOR plus 2.25% (with a LIBOR floor of 0.75%) or (b) ABR plus 1.25% (with an ABR floor of 1.75%).
[2]	The Term Loan A provides for quarterly amortization payments, based on a percentage of the original principal amount of the Term Loan A, as follows: 0.625% per quarter from June 30, 2018 to March 31, 2020; 1.25% per quarter from June 30, 2020 to March 31, 2021; 1.875% per quarter from June 30, 2021 to March 31, 2022; and 2.50% per quarter for periods ending on or after June 30, 2022, with the balance of the Term Loan A due at maturity on February 8, 2023. The interest rates with respect to the Term Loan A are based on, at the Company's option, (a) adjusted LIBOR plus an additional margin or (b) ABR plus an additional margin, in each case subject to adjustment based on the then current senior secured leverage ratio. Based on the previous quarter's senior secured leverage ratio, the LIBOR margin was 2.25% and the ABR margin was 1.25% for the three months ended June 30, 2020.
[3]	In response to the rapidly evolving COVID-19 pandemic, the Company borrowed an additional $400 million under the Revolving Credit Facility in March 2020 as a proactive measure intended to increase liquidity to support our operations and supplement available cash on hand. As of June 30, 2020, the $1,425 million Revolving Credit Facility had outstanding borrowings of $815 million, as well as $40 million of outstanding undrawn letters of credit. The Revolving Credit Facility expires in February 2023 but is classified on the balance sheet as current due to the revolving nature and terms and conditions of the facility. On August 3, 2020, the Company had $815 million in outstanding borrowings under the Revolving Credit Facility and $40 million of outstanding undrawn letters of credit.
[4]	Interest rates with respect to revolving loans under the Senior Secured Credit Facility at June 30, 2020 were based on, at the Company's option, (a) adjusted London Interbank Offering Rate ("LIBOR") plus an additional margin or (b) JP Morgan Chase Bank, N.A.'s prime rate ("ABR") plus an additional margin, in each case subject to adjustment based on the then current senior secured leverage ratio. Based on the previous quarter's senior secured leverage ratio, the LIBOR margin was 2.25% and the ABR margin was 1.25% for the three months ended June 30, 2020.

Short And Long-Term Debt Maturities Table (Details) - USD ($)
$ in Millions

6 Months Ended

9 Months Ended

12 Months Ended

Jun. 30, 2020

Dec. 31, 2020

Jun. 30, 2021

Dec. 31, 2019

Long-term Debt Maturities, Years Presented

Remaining 2020 (a)

^[1]

$ 839

981

$ 11

4 years

Current portion of long-term debt

$ 868

$ 234

Scenario, Forecast | Secured Debt | Term Loan A

Letter of Credit

$ 815

^[2],[3]

$ 190

Debt Instrument, Periodic Payment, Principal

$ 19

$ 42

Scenario, Forecast | Secured Debt | Term Loan B

Debt Instrument, Periodic Payment, Principal

$ 5

$ 11

[1]	Remaining 2020 includes amortization payments totaling $19 million and $5 million for the Term Loan A and Term Loan B facilities, respectively, as well as $815 million of revolver borrowings under the Revolving Credit Facility which expires in February 2023 but is classified on the balance sheet as current due to the revolving nature and terms and conditions of the facility. The current portion of long-term debt of $868 million shown on the condensed consolidated balance sheet consists of four quarters of amortization payments totaling $42 million and $11 million for the Term Loan A and Term Loan B facilities, respectively, and $815 million of revolver borrowings under the Revolving Credit Facility.
[2]	In response to the rapidly evolving COVID-19 pandemic, the Company borrowed an additional $400 million under the Revolving Credit Facility in March 2020 as a proactive measure intended to increase liquidity to support our operations and supplement available cash on hand. As of June 30, 2020, the $1,425 million Revolving Credit Facility had outstanding borrowings of $815 million, as well as $40 million of outstanding undrawn letters of credit. The Revolving Credit Facility expires in February 2023 but is classified on the balance sheet as current due to the revolving nature and terms and conditions of the facility. On August 3, 2020, the Company had $815 million in outstanding borrowings under the Revolving Credit Facility and $40 million of outstanding undrawn letters of credit.
[3]	Interest rates with respect to revolving loans under the Senior Secured Credit Facility at June 30, 2020 were based on, at the Company's option, (a) adjusted London Interbank Offering Rate ("LIBOR") plus an additional margin or (b) JP Morgan Chase Bank, N.A.'s prime rate ("ABR") plus an additional margin, in each case subject to adjustment based on the then current senior secured leverage ratio. Based on the previous quarter's senior secured leverage ratio, the LIBOR margin was 2.25% and the ABR margin was 1.25% for the three months ended June 30, 2020.

Short And Long-Term Debt Senior Secured Credit Facility (Details) - USD ($)
$ in Millions

6 Months Ended

Jun. 30, 2020

Dec. 31, 2019

Feb. 28, 2018

Letter of Credit, borrowing capacity

$ 4,078

$ 125

Senior secured leverage ratio

3.29

Maximum | Required Covenant Ratio

Senior secured leverage ratio

4.75

Ratio of Indebtedness to Net Capital Denominator

1.00

LIBOR

LIBOR

ABR

ABR

Term Loan B | LIBOR

Debt Instrument, Basis Spread on Variable Rate, Floor

2.25%

0.75%

Term Loan B | ABR

Debt Instrument, Basis Spread on Variable Rate, Floor

1.25%

1.75%

Revolving Credit Facility | Line of Credit

Line of credit facility borrowing capacity

^[1]

$ 1,425

Revolving Credit Facility | Line of Credit | LIBOR | Greater than 3.50 to 1.00

Revolving Credit Facility | Line of Credit | LIBOR | Less than or equal to 3.50 to 1.00 but greater than or equal to 2.50 to 1.00

2.50%

Revolving Credit Facility | Line of Credit | LIBOR | Less than 2.50 to 1.00 but greater than or equal to 2.00 to 1.00

2.25%

Revolving Credit Facility | Line of Credit | LIBOR | Less than 2.00 to 1.00

2.00%

Revolving Credit Facility | Line of Credit | ABR | Greater than 3.50 to 1.00

1.75%

Revolving Credit Facility | Line of Credit | ABR | Less than or equal to 3.50 to 1.00 but greater than or equal to 2.50 to 1.00

1.50%

Revolving Credit Facility | Line of Credit | ABR | Less than 2.50 to 1.00 but greater than or equal to 2.00 to 1.00

1.25%

Revolving Credit Facility | Line of Credit | ABR | Less than 2.00 to 1.00

1.00%

0.75%

Annual percentage of original principal amount for quarterly amortization payments

$ 1,053

^[2]

$ 1,058

$ 1,080

1.00%

[1]

Interest rates with respect to revolving loans under the Senior Secured Credit Facility at June 30, 2020 were based on, at the Company's option, (a) adjusted London Interbank Offering Rate ("LIBOR") plus an additional margin or (b) JP Morgan Chase Bank, N.A.'s prime rate ("ABR") plus an additional margin, in each case subject to adjustment based on the then current senior secured leverage ratio. Based on the previous quarter's senior secured leverage ratio, the LIBOR margin was 2.25% and the ABR margin was 1.25% for the three months ended June 30, 2020.

[2]

The Term Loan B provides for quarterly amortization payments totaling 1% per annum of the original principal amount. The interest rate with respect to term loans under the Term Loan B is based on, at the Company’s option, (a) adjusted LIBOR plus 2.25% (with a LIBOR floor of 0.75%) or (b) ABR plus 1.25% (with an ABR floor of 1.75%).

Short And Long-Term Debt Term Loan A Facility (Details) - USD ($)
$ in Millions

6 Months Ended

Jun. 30, 2020

Dec. 31, 2019

Feb. 28, 2018

Term Loan A | Secured Debt

$ 4,078

Term Loan A | Secured Debt | Greater than 3.50 to 1.00 | LIBOR

$ 703

^[1]

$ 717

$ 750

Term Loan A | Secured Debt | Greater than 3.50 to 1.00 | ABR

2.50%

Term Loan A | Secured Debt | Less than or equal to 3.50 to 1.00 but greater than or equal to 2.50 to 1.00 | LIBOR

1.50%

Term Loan A | Secured Debt | Less than or equal to 3.50 to 1.00 but greater than or equal to 2.50 to 1.00 | ABR

2.25%

Term Loan A | Secured Debt | Less than 2.50 to 1.00 but greater than or equal to 2.00 to 1.00 | LIBOR

1.25%

Term Loan A | Secured Debt | Less than 2.50 to 1.00 but greater than or equal to 2.00 to 1.00 | ABR

2.00%

Term Loan A | Secured Debt | Less than 2.00 to 1.00 | LIBOR

1.00%

Term Loan A | Secured Debt | Less than 2.00 to 1.00 | ABR

1.75%

Term Loan A | Secured Debt | June 2018 to March 2020

0.75%

Quarterly percentage of original principal amount for quarterly amortization payments

0.625%

Term Loan A | Secured Debt | June 2020 to March 2021

Quarterly percentage of original principal amount for quarterly amortization payments

1.25%

Term Loan A | Secured Debt | June 2021 to March 2022

Quarterly percentage of original principal amount for quarterly amortization payments

1.875%

Term Loan A | Secured Debt | June 2022 to February 2023

Quarterly percentage of original principal amount for quarterly amortization payments

2.50%

[1]

The Term Loan A provides for quarterly amortization payments, based on a percentage of the original principal amount of the Term Loan A, as follows: 0.625% per quarter from June 30, 2018 to March 31, 2020; 1.25% per quarter from June 30, 2020 to March 31, 2021; 1.875% per quarter from June 30, 2021 to March 31, 2022; and 2.50% per quarter for periods ending on or after June 30, 2022, with the balance of the Term Loan A due at maturity on February 8, 2023. The interest rates with respect to the Term Loan A are based on, at the Company's option, (a) adjusted LIBOR plus an additional margin or (b) ABR plus an additional margin, in each case subject to adjustment based on the then current senior secured leverage ratio. Based on the previous quarter's senior secured leverage ratio, the LIBOR margin was 2.25% and the ABR margin was 1.25% for the three months ended June 30, 2020.

Short And Long-Term Debt Senior Secured Second Lien Notes (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 4,078
7.625% Senior Secured Second Lien Notes \| Secured Debt
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 550	$ 0
Interest Rate	7.625%
9.375% Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 550	$ 550
Interest Rate	9.375%

Short And Long-Term Debt Unsecured Notes (Details)	1 Months Ended	6 Months Ended
Short And Long-Term Debt Unsecured Notes (Details)	Jun. 30, 2020 USD ($) Rate	Jun. 30, 2020 USD ($) Rate	Jun. 30, 2019 USD ($)	Jan. 01, 2019 USD ($)
Debt Instrument [Line Items]
Proceeds from issuance of Senior Secured Second Lien Notes		$ 550,000,000	$ 0
Amount that the cumulative credit basket for restricted payments was reset to on January 1, 2019				$ 0
Cumulative Credit Basket increase as a % of Consolidated Net Income when the consolidated leverage ratio is equal to or greater than 4.0 to 1.0 \| Rate	25.00%	25.00%
Consolidated Leverage Ratio - Consolidated Net Income Build - Numerator	4.0	4.0
Consolidated Leverage Ratio - Consolidated Net Income Build - Denominator	1.0	1.0
Cumulative Credit Basket increase as a % of Consolidated Net Income when the consolidated leverage ratio is less than 4.0 to 1.0 \| Rate	50.00%	50.00%
Percent of the deficit by which the cumulative credit basket is reduced when consolidated net income is in a deficit position \| Rate		1
General restricted payment basket may be used only for restricted investments (as defined in the indenture to the 9.375% notes)	$ 100,000,000	$ 100,000,000
Consolidated Leverage Ratio - Unlimited General Restricted Payment Basket - Numerator	3.0	3.0
Consolidated Leverage Ratio - Unlimited Restricted Payment Basket - Denominator	1.0	1.0
Max amount of shares repurchased and dividends declared per year under the 9.375 Credit Agreement	$ 45,000,000	$ 45,000,000
Net Debt Seasonality Adjustment	200,000,000	$ 200,000,000
Secured Debt \| 7.625% Senior Secured Second Lien Notes
Debt Instrument [Line Items]
Proceeds from issuance of Senior Secured Second Lien Notes	$ 550
Interest Rate	7.625%	7.625%
Senior Notes \| 5.25% Senior Notes
Debt Instrument [Line Items]
Interest Rate	5.25%	5.25%
Senior Notes \| 4.875% Senior Notes
Debt Instrument [Line Items]
Interest Rate	4.875%	4.875%
Senior Notes \| 9.375% Senior Notes
Debt Instrument [Line Items]
Interest Rate	9.375%	9.375%

Short And Long-Term Debt Loss on the Early Extinguishment of Debt (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Dec. 31, 2019

Gain (Loss) on Extinguishment of Debt

^[1]

$ (8)

$ 0

$ (8)

$ (5)

Long-term Debt, Gross

4,078

Repayments of Unsecured Debt

(550)

$ (450)

7.625% Senior Secured Second Lien Notes | Secured Debt

Long-term Debt, Gross

$ 550

$ 0

5.25% Senior Notes | Senior Notes

7.625%

Long-term Debt, Gross

$ 0

$ 550

5.25%

[1]	Loss on the early extinguishment of debt is recorded in Corporate and Other.

Restructuring Costs Restructuring Costs (Details) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Operational Efficiencies Program

^[1],[2]

$ 14,000,000

$ 9,000,000

$ 25,000,000

$ 18,000,000

12,000,000

9,000,000

23,000,000

^[3]

15,000,000

Leadership Realignment

2,000,000

3,000,000

Personnel Related

^[4]

4,000,000

5,000,000

7,000,000

13,000,000

^[3]

7,000,000

Facility Related

^[5]

$ 10,000,000

$ 4,000,000

18,000,000

$ 5,000,000

^[3]

$ 16,000,000

[1]	The three months ended June 30, 2020 includes restructuring charges of $12 million at Realogy Brokerage Group and $2 million at Realogy Title Group. The three months ended June 30, 2019 includes restructuring charges of $1 million at Realogy Franchise Group, $6 million at Realogy Brokerage Group, $1 million at Realogy Title Group and $1 million at Corporate and Other. The six months ended June 30, 2020 includes restructuring charges of $1 million at Realogy Franchise Group, $21 million at Realogy Brokerage Group and $3 million at Realogy Title Group. The six months ended June 30, 2019 includes restructuring charges of $1 million at Realogy Franchise Group, $10 million at Realogy Brokerage Group, $2 million at Realogy Title Group and $5 million at Corporate and Other.
[2]	Restructuring charges for the three and six months ended June 30, 2020 include $12 million and $23 million, respectively, related to the Facility and Operational Efficiencies Program and $2 million related to the Leadership Realignment and Other Restructuring Activities Program. Restructuring charges for the three and six months ended June 30, 2019 include $9 million and $15 million, respectively, related to the Facility and Operational Efficiencies Program and zero and $3 million, respectively, related to the Leadership Realignment and Other Restructuring Activities Program.
[3]	In addition, the Company incurred an additional $11 million of facility-related costs for lease asset impairments in connection with the Facility and Operational Efficiencies Program during the six months ended June 30, 2020.
[4]	Personnel-related costs consist of severance costs provided to employees who have been terminated and duplicate payroll costs during transition.
[5]	Facility-related costs consist of costs associated with planned facility closures such as contract termination costs, amortization of lease assets that will continue to be incurred under the contract for its remaining term without economic benefit to the Company, accelerated depreciation on asset disposals and other facility and employee relocation related costs.

Restructuring Costs Facility and Operational Efficiencies Program (Details) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Other Asset Impairment Charges

^[1],[2]

$ 14,000,000

$ 9,000,000

$ 25,000,000

$ 18,000,000

11,000,000

1,000,000

12,000,000

6,000,000

21,000,000

10,000,000

2,000,000

1,000,000

3,000,000

2,000,000

1,000,000

5,000,000

Personnel Related

^[3]

4,000,000

5,000,000

7,000,000

13,000,000

Facility Related

Operational Efficiencies Program

^[4]

10,000,000

4,000,000

18,000,000

5,000,000

11,000,000

12,000,000

$ 9,000,000

23,000,000

^[5]

$ 15,000,000

(22,000,000)

Restructuring and Related Cost, Expected Cost [Abstract]

12,000,000

Restructuring and Related Cost, Cost Incurred to Date

81,000,000

61,000,000

Restructuring and Related Cost, Expected Cost Remaining

20,000,000

Operational Efficiencies Program | Realogy Franchise Group

Restructuring and Related Cost, Expected Cost [Abstract]

Restructuring and Related Cost, Cost Incurred to Date

5,000,000

5,000,000

Restructuring and Related Cost, Expected Cost Remaining

Operational Efficiencies Program | Realogy Brokerage Group

Restructuring and Related Cost, Expected Cost [Abstract]

Restructuring and Related Cost, Cost Incurred to Date

62,000,000

44,000,000

Restructuring and Related Cost, Expected Cost Remaining

18,000,000

Operational Efficiencies Program | Realogy Title Group

Restructuring and Related Cost, Expected Cost [Abstract]

Restructuring and Related Cost, Cost Incurred to Date

5,000,000

5,000,000

Restructuring and Related Cost, Expected Cost Remaining

Operational Efficiencies Program | Corporate and Other

Restructuring and Related Cost, Expected Cost [Abstract]

Restructuring and Related Cost, Cost Incurred to Date

9,000,000

7,000,000

Restructuring and Related Cost, Expected Cost Remaining

2,000,000

Operational Efficiencies Program | Personnel Related

6,000,000

^[5]

7,000,000

(10,000,000)

Restructuring and Related Cost, Expected Cost [Abstract]

3,000,000

Restructuring and Related Cost, Cost Incurred to Date

30,000,000

28,000,000

Restructuring and Related Cost, Expected Cost Remaining

2,000,000

Operational Efficiencies Program | Facility Related

5,000,000

^[5]

16,000,000

(12,000,000)

Restructuring and Related Cost, Expected Cost [Abstract]

9,000,000

Restructuring and Related Cost, Cost Incurred to Date

^[6]

50,000,000

^[6]

32,000,000

Restructuring and Related Cost, Expected Cost Remaining

^[6]

18,000,000

Operational Efficiencies Program | Other Restructuring

Restructuring and Related Cost, Expected Cost [Abstract]

Restructuring and Related Cost, Cost Incurred to Date

1,000,000

1,000,000

Restructuring and Related Cost, Expected Cost Remaining

$ 0

[1]	The three months ended June 30, 2020 includes restructuring charges of $12 million at Realogy Brokerage Group and $2 million at Realogy Title Group. The three months ended June 30, 2019 includes restructuring charges of $1 million at Realogy Franchise Group, $6 million at Realogy Brokerage Group, $1 million at Realogy Title Group and $1 million at Corporate and Other. The six months ended June 30, 2020 includes restructuring charges of $1 million at Realogy Franchise Group, $21 million at Realogy Brokerage Group and $3 million at Realogy Title Group. The six months ended June 30, 2019 includes restructuring charges of $1 million at Realogy Franchise Group, $10 million at Realogy Brokerage Group, $2 million at Realogy Title Group and $5 million at Corporate and Other.
[2]	Restructuring charges for the three and six months ended June 30, 2020 include $12 million and $23 million, respectively, related to the Facility and Operational Efficiencies Program and $2 million related to the Leadership Realignment and Other Restructuring Activities Program. Restructuring charges for the three and six months ended June 30, 2019 include $9 million and $15 million, respectively, related to the Facility and Operational Efficiencies Program and zero and $3 million, respectively, related to the Leadership Realignment and Other Restructuring Activities Program.
[3]	Personnel-related costs consist of severance costs provided to employees who have been terminated and duplicate payroll costs during transition.
[4]	Facility-related costs consist of costs associated with planned facility closures such as contract termination costs, amortization of lease assets that will continue to be incurred under the contract for its remaining term without economic benefit to the Company, accelerated depreciation on asset disposals and other facility and employee relocation related costs.
[5]	In addition, the Company incurred an additional $11 million of facility-related costs for lease asset impairments in connection with the Facility and Operational Efficiencies Program during the six months ended June 30, 2020.
[6]	Facility-related costs includes lease asset impairments expected to be incurred under the Facility and Operational Efficiencies Program.

Restructuring Costs Leadership Realignment (Details) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Dec. 31, 2019

^[1],[2]

$ 14,000,000

$ 9,000,000

$ 25,000,000

$ 18,000,000

Leadership Realignment

Restructuring Reserve

$ 5,000,000

2,000,000

$ 0

2,000,000

$ 3,000,000

Restructuring and Related Cost, Expected Cost Remaining

(4,000,000)

$ 3,000,000

[1]

The three months ended June 30, 2020 includes restructuring charges of $12 million at Realogy Brokerage Group and $2 million at Realogy Title Group.

The six months ended June 30, 2020 includes restructuring charges of $1 million at Realogy Franchise Group, $21 million at Realogy Brokerage Group and $3 million at Realogy Title Group.

[2]

Restructuring charges for the three and six months ended June 30, 2020 include $12 million and $23 million, respectively, related to the Facility and Operational Efficiencies Program and $2 million related to the Leadership Realignment and Other Restructuring Activities Program. Restructuring charges for the three and six months ended June 30, 2019 include $9 million and $15 million, respectively, related to the Facility and Operational Efficiencies Program and zero and $3 million, respectively, related to the Leadership Realignment and Other Restructuring Activities Program.

Equity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Equity Table [Line Items]
Beginning Balance				114,355,519
Repurchase of common stock			(1,200,000)
Ending Balance	115,424,033			115,424,033
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 1,634	$ 2,189	$ 2,315	$ 2,096	$ 2,315
Net (loss) income	(13)	70		(475)	(29)
Other comprehensive income (loss)	1	(1)		0	1
Repurchase of common stock			(20)		(20)
Stock-based compensation	4	7		10	15
Issuance of shares for vesting of equity awards	0	$ 0		0	0
Shares withheld for taxes on equity awards	(1)			(5)	$ (6)
Cash dividends declared per share		$ 0.09			$ 0.18
Dividends declared, APIC		$ (11)		0	$ (21)
Dividends declared		(12)		(1)	(23)
Ending Balance	$ 1,625	$ 2,253	$ 2,189	$ 1,625	$ 2,253
Common Stock
Statement of Equity Table [Line Items]
Beginning Balance	115,300,000	114,200,000	114,600,000	114,400,000	114,600,000
Repurchase of common stock					(1,200,000)
Issuance of shares for vesting of equity awards	100,000	100,000		1,500,000	1,300,000
Shares withheld for taxes on equity awards	0			(500,000)	(400,000)
Ending Balance	115,400,000	114,300,000	114,200,000	115,400,000	114,300,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 1	$ 1	$ 1	$ 1	$ 1
Repurchase of common stock					0
Issuance of shares for vesting of equity awards	0	0		0	0
Shares withheld for taxes on equity awards	0			0	0
Ending Balance	1	1	1	1	1
Additional Paid-In Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	4,844	4,841	4,869	4,842	4,869
Repurchase of common stock					(20)
Stock-based compensation	4	7		10	15
Shares withheld for taxes on equity awards	(1)			(5)	(6)
Ending Balance	4,847	4,837	4,841	4,847	4,837
Accumulated Deficit
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(3,157)	(2,606)	(2,507)	(2,695)	(2,507)
Net (loss) income	(14)	69		(476)	(30)
Ending Balance	(3,171)	(2,537)	(2,606)	(3,171)	(2,537)
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(57)	(50)	(52)	(56)	(52)
Other comprehensive income (loss)	1	(1)			1
Ending Balance	(56)	(51)	(50)	(56)	(51)
Non- controlling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	3	3	4	4	4
Net (loss) income	1	1		1	1
Dividends declared, Noncontrolling Interest		(1)		(1)	(2)
Ending Balance	$ 4	$ 3	$ 3	$ 4	$ 3

Equity Stock-Based Compensation (Details)	3 Months Ended
Equity Stock-Based Compensation (Details)	Mar. 31, 2020 USD ($) $ / shares shares
Restricted Stock Units (RSUs)
Non Options Granted in Period \| shares	0.7
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value \| $ / shares	$ 9.70
Performance Shares
Non Options Granted in Period \| shares	0.9
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value \| $ / shares	$ 9.23
Deferred Bonus
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount	$ 18
Cash settled PSU
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount	6
Cash settled RSU
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount	$ 3

Earnings (Loss) Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Net Income (Loss) Attributable to Noncontrolling Interest

$ 28

$ 69

$ (407)

$ (16)

(1)

Net income (loss) from continuing operations attributable to Realogy Holdings

(408)

(17)

Net (loss) income attributable to Realogy Holdings and Realogy Group

(41)

(68)

(13)

$ (14)

$ 69

$ (476)

$ (30)

Earnings Per Share, Basic and Diluted [Abstract]

Weighted average common shares outstanding, Basic

115.4

114.3

115.0

114.1

Dilutive effect of stock-based compensation

^[1],[2]

0.8

0.6

0.0

Weighted average common shares outstanding, Diluted

116.2

114.9

115.0

114.1

Basic earnings (loss) per share from continuing operations

$ 0.23

$ 0.59

$ (3.55)

$ (0.15)

Basic (loss) earnings per share from discontinued operations

(0.35)

0.01

(0.59)

(0.11)

Basic (loss) earnings per share

(0.12)

0.60

(4.14)

(0.26)

Diluted earnings (loss) per share from continuing operations

0.23

0.59

(3.55)

(0.15)

Diluted (loss) earnings per share from discontinued operations

(0.35)

0.01

(0.59)

(0.11)

Diluted (loss) earnings per share

$ (0.12)

$ 0.60

$ (4.14)

$ (0.26)

Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount

9.0

10.4

[1]	The Company had a net loss from continuing operations for the six months ended June 30, 2020 and 2019 and therefore the impact of incentive equity awards were excluded from the computation of dilutive loss per share as the inclusion of such amounts would be anti-dilutive
[2]	The three months ended June 30, 2020 and 2019 exclude 9.0 million and 10.4 million shares, respectively, of common stock issuable for incentive equity awards, which includes performance share units based on the achievement of target amounts, that are anti-dilutive to the diluted earnings per share computation.

Commitments And Contingencies (Details)	6 Months Ended
Commitments And Contingencies (Details)	Jun. 30, 2020 USD ($)	Dec. 31, 2019 USD ($)	Jul. 31, 2006 Independent_Companies
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	COMMITMENTS AND CONTINGENCIES Litigation The Company is involved in claims, legal proceedings, alternative dispute resolution and governmental inquiries related to alleged contract disputes, business practices, intellectual property and other commercial, employment, regulatory and tax matters. Examples of such matters include but are not limited to allegations: •that independent residential real estate sales agents engaged by Realogy Brokerage Group or by affiliated franchisees—under certain state or federal laws—are potentially employees instead of independent contractors, and they or regulators therefore may bring claims against Realogy Brokerage Group for breach of contract, wage and hour classification claims, wrongful discharge, unemployment and workers' compensation and could seek benefits, back wages, overtime, indemnification, penalties related to classification practices and expense reimbursement available to employees or similar claims against Realogy Franchise Group as an alleged joint employer of an affiliated franchisee’s independent sales agents; •concerning other employment law matters, including other types of worker classification claims as well as wage and hour claims and retaliation claims; •concerning anti-trust and anti-competition matters; •that the Company is vicariously liable for the acts of franchisees under theories of actual or apparent agency; •by current or former franchisees that franchise agreements were breached including improper terminations; •concerning alleged RESPA or state real estate law violations; •concerning claims related to the Telephone Consumer Protection Act, including autodialer claims; •concerning claims generally against the company owned brokerage operations for negligence, misrepresentation or breach of fiduciary duty in connection with the performance of real estate brokerage or other professional services as well as other brokerage claims associated with listing information and property history; •related to copyright law, including infringement actions alleging improper use of copyrighted photographs on websites or in marketing materials without consent of the copyright holder; •concerning breach of obligations to make websites and other services accessible for consumers with disabilities; •concerning claims generally against the title agent contending that the agent knew or should have known that a transaction was fraudulent or that the agent was negligent in addressing title defects or conducting the settlement; •concerning information security and cyber-crime, including claims under new and emerging data privacy laws related to the protection of customer, employee or third-party information, as well as those related to the diversion of homesale transaction closing funds; and •those related to general fraud claims. Worker Classification Litigation Whitlach v. Premier Valley, Inc. d/b/a Century 21 M&M and Century 21 Real Estate LLC (Superior Court of California, Stanislaus County). This was filed as a putative class action complaint on December 20, 2018 by plaintiff James Whitlach against Premier Valley Inc., a Century 21 Real Estate independently-owned franchisee doing business as Century 21 M&M (“Century 21 M&M”). The complaint also names Century 21 Real Estate LLC, a wholly-owned subsidiary of the Company and the franchisor of Century 21 Real Estate (“Century 21”), as an alleged joint employer of the franchisee’s independent sales agents and seeks to certify a class that could potentially include all agents of both Century 21 M&M and Century 21 in California. The plaintiff alleges that Century 21 M&M misclassified all of its independent real estate agents, salespeople, sales professionals, broker associates and other similar positions as independent contractors, failed to pay minimum wages, failed to provide meal and rest breaks, failed to pay timely wages, failed to keep proper records, failed to provide appropriate wage statements, made unlawful deductions from wages, and failed to reimburse plaintiff and the putative class for business related expenses, resulting in violations of the California Labor Code. The complaint also asserts an unfair business practice claim based on the alleged violations described above. On February 15, 2019, the plaintiff amended his complaint to assert claims pursuant to the California Private Attorneys General Act (“PAGA”). The PAGA claims included in the amended complaint are substantively similar to those asserted in the original complaint. Under California law, PAGA claims are generally not subject to arbitration and may result in exposure in the form of additional penalties. In April 2019, the defendants filed motions to compel arbitration of the non-PAGA claims and to stay the PAGA claims pending resolution of the arbitrable claims. On June 5, 2019, the Court dismissed the plaintiff’s non-PAGA claims without prejudice and withdrew the defendants’ motion to compel arbitration by stipulation of the parties. The plaintiff continues to pursue his PAGA claims as a representative of purported "aggrieved employees" as defined by PAGA. The plaintiff currently seeks, as the representative of all purported aggrieved employees, all non-individualized relief available to the purported aggrieved employees under PAGA, as well as attorneys’ fees. In November 2019, Century 21 M&M filed a demurrer to the complaint, seeking to dismiss the remaining claim in the action, to which Century 21 filed a joinder. The demurrer was granted by the Court in June 2020, however, the Court permitted the plaintiff to replead the complaint. The amended complaint, filed in June 2020 by the plaintiff, asserts one cause of action for alleged civil penalties under PAGA. Century 21 M&M filed its demurrer to the amended complaint, to which Century 21 filed a joinder (and, in the alternative, a motion to strike certain portions of the amended complaint), on August 3, 2020. This case raises various previously unlitigated claims and the PAGA claim adds additional litigation, financial and operating uncertainties. Real Estate Industry Litigation Moehrl, Cole, Darnell, Nager, Ramey, Sawbill Strategic, Inc., Umpa and Ruh v. The National Association of Realtors, Realogy Holdings Corp., Homeservices of America, Inc., BHH Affiliates, LLC, The Long & Foster Companies, Inc., RE/MAX LLC, and Keller Williams Realty, Inc. (U.S. District Court for the Northern District of Illinois). This amended putative class action complaint (the "amended Moehrl complaint"), filed on June 14, 2019, (i) consolidates the Moehrl and Sawbill litigation reported in our Form 10-Q for the period ended March 31, 2019, (ii) adds certain plaintiffs and defendants, and (iii) serves as a response to the separate motions to dismiss filed on May 17, 2019 in the prior Moehrl litigation by each of NAR and the Company (along with the other defendants named in the prior Moehrl complaint). In the amended Moehrl complaint, the plaintiffs allege that the defendants engaged in a continuing contract, combination, or conspiracy to unreasonably restrain trade and commerce in violation of Section 1 of the Sherman Act because defendant NAR allegedly established mandatory anticompetitive policies for the multiple listing services and its member brokers that require brokers to make an offer of buyer broker compensation when listing a property. The plaintiffs further allege that commission sharing, which provides for the broker representing the seller sharing or paying a portion of its commission to the broker representing the buyer, is anticompetitive and violates the Sherman Act, and that the defendant franchisors conspired with NAR by requiring their respective franchisees to comply with NAR’s policies and Code of Ethics. The plaintiffs seek a permanent injunction enjoining the defendants from requiring home sellers to pay buyer broker commissions or to otherwise restrict competition among buyer brokers, an award of damages and/or restitution, attorneys fees and costs of suit. Plaintiffs' counsel has filed a motion to appoint lead counsel in the case, which has yet to be decided by the Court. On August 9, 2019, NAR and the Company (together with the other defendants named in the amended Moehrl complaint) each filed separate motions to dismiss this litigation. The plaintiffs filed their opposition to the motions to dismiss on September 13, 2019, and the defendants filed their replies in support of the motions on October 18, 2019. In October 2019, the Department of Justice filed a statement of interest for this matter, in their words “to correct the inaccurate portrayal, by defendant The National Association of Realtors (‘NAR’), of a 2008 consent decree between the United States and NAR.” Discovery between the plaintiffs and defendants is stayed pending rulings on the outstanding motions to dismiss this litigation. Sitzer and Winger v. The National Association of Realtors, Realogy Holdings Corp., Homeservices of America, Inc., RE/MAX Holdings, Inc., and Keller Williams Realty, Inc. (U.S. District Court for the Western District of Missouri). This is a putative class action complaint filed on April 29, 2019 and amended on June 21, 2019 by plaintiffs Joshua Sitzer and Amy Winger against NAR, the Company, Homeservices of America, Inc., RE/MAX Holdings, Inc., and Keller Williams Realty, Inc. The complaint contains substantially similar allegations, and seeks the same relief under the Sherman Act, as the Moehrl litigation. The Sitzer litigation is limited both in allegations and relief sought to the State of Missouri and includes an additional cause of action for alleged violation of the Missouri Merchandising Practices Act, or MMPA. On August 22, 2019, the Court denied defendants' motions to transfer the Sitzer matter to the U.S. District Court for the Northern District of Illinois and on October 16, 2019, denied the motions to dismiss this litigation filed respectively by NAR and the Company (together with the other named brokerage/franchisor defendants). In September 2019, the Department of Justice filed a statement of interest and appearances for this matter for the same purpose stated in the Moehrl matter and in July 2020 requested we provide them with all materials produced for Sitzer. Discovery between the plaintiffs and defendants is ongoing. Rubenstein, Nolan v. The National Association of Realtors, Realogy Holdings Corp., Coldwell Banker, Sotheby’s Investment Realty, and Homeservices of America, Inc. (U.S. District Court for the District of Connecticut). In this action, the plaintiffs take issue with the same NAR policies related to buyer broker compensation at issue in the Moehrl and Sitzer matters, but claim the alleged conspiracy has harmed buyers (instead of sellers) and is a federal racketeering violation (instead of a violation of federal antitrust law). The predicate criminal act and other elements of the racketeering violation are not pled. The Company has not yet been served. Securities Litigation Tanaskovic v. Realogy Holdings Corp., et. al. (U.S. District Court for the District of New Jersey). This is a putative class action complaint filed on July 11, 2019 by plaintiff Sasa Tanaskovic against the Company and certain of its current and former executive officers. The lawsuit alleges violations of Sections 10(b), 20(a) and Rule 10b-5 of the Exchange Act in connection with allegedly false and misleading statements made by the Company about its business, operations, and prospects. The plaintiffs seek, among other things, compensatory damages for purchasers of the Company’s common stock between February 24, 2017 through May 22, 2019, as well as attorneys’ fees and costs. Locals 302 and 612 of the International Union of Operating Engineers-Employers Construction Industry Retirement Trust (the “Retirement Trust”), was appointed lead plaintiff on November 7, 2019. Lead plaintiff filed its amended complaint on March 6, 2020 and the Company filed its motion to dismiss the amended complaint on August 3, 2020. Fried v. Realogy Holdings Corp., et al. (U.S. District Court for the District of New Jersey). This is a putative derivative action filed on October 23, 2019 by plaintiff Adam Fried against the Company (as nominal defendant) and certain of its current and former executive officers and members of its Board of Directors (as defendants). The lawsuit alleges violations of Section 14(a) of the Exchange Act and breach of fiduciary duties for, among other things, allegedly false and misleading statements made by the Company about its business, operations and prospects as well as unjust enrichment claims. The plaintiff seeks, among other things, compensatory damages, disgorgement of improper compensation, certain reforms to the Company’s corporate governance and internal procedures and attorneys’ fees and costs. On December 23, 2019, the Court approved a motion staying this case pending further action in the Tanaskovic matter. The Company disputes the allegations in each of the captioned matters described above and will vigorously defend these actions. Given the early stages of each of these cases, we cannot estimate a range of reasonably possible losses for this litigation. The Company believes that it has adequately accrued for legal matters as appropriate. The Company records litigation accruals for legal matters which are both probable and estimable. Litigation and other disputes are inherently unpredictable and subject to substantial uncertainties and unfavorable resolutions could occur. In addition, class action lawsuits can be costly to defend and, depending on the class size and claims, could be costly to settle. As such, the Company could incur judgments or enter into settlements of claims with liability that are materially in excess of amounts accrued and these settlements could have a material adverse effect on the Company’s financial condition, results of operations or cash flows in any particular period. * * * Company-Initiated Litigation Realogy Holdings Corp. v. SIRVA Worldwide, Inc., North American Van Lines, Inc., Madison Dearborn Capital Partners VII-A, L.P., Madison Dearborn Capital Partners VII-C, L.P., and Madison Dearborn Capital Partners VII Executive-A, L.P. (Court of Chancery of the State of Delaware). On April 27, 2020, the Company filed a complaint against affiliates of MDP and SIRVA to enforce SIRVA’s obligations under the Purchase Agreement for the sale of the Company’s employee relocation services business, which was amended by the Company on May 17, 2020. The Company alleges breach of contract and seeks specific performance by SIRVA to perform its obligations under the Purchase Agreement, or in the alternative, an order directing the defendants to specifically perform their contractual obligations to pay the Company a $30 million termination fee, as well as costs and expenses, including reasonable attorney’s fees. On June 8, 2020, the defendants filed their answer to the Company's complaint along with counterclaims alleging breach of contract as well as a motion to dismiss the Company's claims for specific performance under the Purchase Agreement. On July 17, 2020, the Court granted the defendants’ motion to dismiss, limited to the issue of the availability of specific performance with respect to the acquisition of Cartus Relocation Services. On July 27, 2020, the Company filed its application for certification of interlocutory appeal with the trial court. On July 28, 2020, the Company filed its Notice of Appeal with the Delaware Supreme Court, and on July 31, 2020, defendants filed their opposition to the Company's application for interlocutory appeal with the trial court. Trial on the remainder of the Company’s claims including seeking payment of the termination fee and the defendants’ counterclaims is currently scheduled for November 2020. Realogy Holdings Corp., NRT New York LLC (d/b/a The Corcoran Group), Sotheby’s International Realty, Inc., Coldwell Banker Residential Brokerage Company, Coldwell Banker Residential Real Estate LLC, NRT West, Inc., Martha Turner Properties, L.P. And Better Homes and Gardens Real Estate LLC v. Urban Compass, Inc., and Compass, Inc. (Supreme Court New York, New York County). On July 10, 2019, the Company and certain of its subsidiaries, filed a complaint against Urban Compass, Inc. and Compass, Inc. (together, "Compass") alleging misappropriation of trade secrets; tortious interference with contract; intentional and tortious interference with prospective economic advantage; unfair competition under New York common law; violations of the California Unfair Competition Law, Business and Professional Code Section 17200 et. seq. (unfair competition); violations of New York General Business Law Section 349 (deceptive acts or practices); violations of New York General Business Law Sections 350 and 350-a (false advertising); conversion; and aiding and abetting breach of contract. The Company seeks, among other things, actual and compensatory damages, injunctive relief, and attorneys’ fees and costs. The Company subsequently amended its complaint (which, among other things, withdrew the count for aiding and abetting breach of contract and added a count for defamation). Beginning in September 2019, Compass filed a series of motions, which the Company opposed, including a motion to dismiss and a motion to compel arbitration with respect to certain claims involving Corcoran. In June 2020, having previously denied certain portions of Compass’ motion to dismiss, the Court denied the balance of the motion to dismiss, and denied as moot Compass’ motion to compel arbitration, granting the Company leave to amend the allegations in its complaint that relate to Corcoran’s exclusive listings in order to clarify the claims and damages sought in the action. The Company filed its amended complaint in July 2020. * * * The Company is involved in certain other claims and legal actions arising in the ordinary course of our business. Such litigation, regulatory actions and other proceedings may include, but are not limited to, actions relating to intellectual property, commercial arrangements, franchising arrangements, the fiduciary duties of brokers, standard brokerage disputes like the failure to disclose accurate square footage or hidden defects in the property such as mold, vicarious liability based upon conduct of individuals or entities outside of our control, including franchisees and independent sales agents, antitrust and anti-competition claims, general fraud claims (including wire fraud associated with third-party diversion of funds from a brokerage transaction), employment law claims, including claims challenging the classification of independent sales agents as independent contractors, wage and hour related claims, and claims related to business actions responsive to the COVID-19 outbreak and governmental and regulatory directives thereto, and claims alleging violations of RESPA, state consumer fraud statutes or federal consumer protection statutes. While the results of such claims and legal actions cannot be predicted with certainty, we do not believe based on information currently available to us that the final outcome of current proceedings against the Company will have a material adverse effect on our consolidated financial position, results of operations or cash flows. In addition, with the increasing requirements resulting from government laws and regulations concerning data breach notifications and data privacy and protection obligations, claims associated with these laws may become more common. While most litigation involves claims against the Company, from time to time the Company commences litigation, including litigation against former employees, franchisees and competitors when it alleges that such persons or entities have breached agreements or engaged in other wrongful conduct. * * * Cendant Corporate Liabilities and Guarantees to Cendant and Affiliates Realogy Group (then Realogy Corporation) separated from Cendant on July 31, 2006 (the "Separation"), pursuant to a plan by Cendant (now known as Avis Budget Group, Inc.) to separate into four independent companies—one for each of Cendant's business units—real estate services (Realogy Group), travel distribution services ("Travelport"), hospitality services, including timeshare resorts ("Wyndham Worldwide"), and vehicle rental ("Avis Budget Group"). Pursuant to the Separation and Distribution Agreement dated as of July 27, 2006 among Cendant, Realogy Group, Wyndham Worldwide and Travelport (the "Separation and Distribution Agreement"), each of Realogy Group, Wyndham Worldwide and Travelport have assumed certain contingent and other corporate liabilities (and related costs and expenses), which are primarily related to each of their respective businesses. In addition, Realogy Group has assumed 62.5% and Wyndham Worldwide has assumed 37.5% of certain contingent and other corporate liabilities (and related costs and expenses) of Cendant. The due to former parent balance was $19 million at June 30, 2020 and $18 million at December 31, 2019, respectively. The due to former parent balance was comprised of the Company’s portion of the following: (i) Cendant’s remaining contingent tax liabilities, (ii) potential liabilities related to Cendant’s terminated or divested businesses, and (iii) potential liabilities related to the residual portion of accruals for Cendant operations. Tax Matters The Company is subject to income taxes in the United States and several foreign jurisdictions. Significant judgment is required in determining the worldwide provision for income taxes and recording related assets and liabilities. In the ordinary course of business, there are many transactions and calculations where the ultimate tax determination is uncertain. The Company is regularly under audit by tax authorities whereby the outcome of the audits is uncertain. The Company believes there is appropriate support for positions taken on its tax returns. The liabilities that have been recorded represent the best estimates of the probable loss on certain positions and are adequate for all open years based on an assessment of many factors including past experience and interpretations of tax law applied to the facts of each matter. However, the outcomes of tax audits are inherently uncertain. Escrow and Trust Deposits As a service to its customers, the Company administers escrow and trust deposits which represent undisbursed amounts received for the settlement of real estate transactions. Deposits at FDIC-insured institutions are insured up to $250 thousand. These escrow and trust deposits totaled $729 million at June 30, 2020 and $475 million at December 31, 2019. These escrow and trust deposits are not assets of the Company and, therefore, are excluded from the accompanying Condensed Consolidated Balance Sheets. However, the Company remains contingently liable for the disposition of these deposits.
Loss Contingencies [Line Items]
Termination fee amount obliged in the Company-initiated litigation	$ 30
Cendant Spin-off Number of New Independent Companies \| Independent_Companies			4
Number of New Independent Companies per Cendant Business Unit \| Independent_Companies			1
Guaranty Arrangement Percentage of Obligations Assumed by Realogy	62.50%
Guaranty Arrangement Percentage of Obligations Assumed by Wyndham	37.50%
Due to former parent	$ 19,000,000	$ 18,000,000
Noninterest-bearing deposit liabilities	729,000,000	$ 475,000,000
Maximum
Loss Contingencies [Line Items]
Cash, FDIC insured amount	$ 250,000

Segment Information - Revenues (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Segment Reporting, Revenue Reconciling Item [Line Items]

^[1],[2]

$ 1,207

$ 1,664

$ 2,323

$ 2,718

Segment Reporting, Revenue Reconciling Item [Line Items]

Realogy Franchise Group | Royalties and Marketing Fees

^[1],[2]

179

260

347

439

Segment Reporting, Revenue Reconciling Item [Line Items]

Realogy Franchise Group | Referral Fees

123

142

Segment Reporting, Revenue Reconciling Item [Line Items]

Segment Reporting, Revenue Reconciling Item [Line Items]

^[1],[2]

933

1,331

1,802

2,147

Segment Reporting, Revenue Reconciling Item [Line Items]

^[1],[2]

160

297

274

Segment Reporting, Revenue Reconciling Item [Line Items]

^[1],[2],[3]

$ (65)

$ (87)

$ (123)

$ (142)

[1]	Revenues for Realogy Franchise Group include intercompany referral commissions related to Realogy Advantage Broker Network paid by Realogy Brokerage Group of $3 million and $5 million for the three and six months ended June 30, 2020, respectively, and $5 million and $8 million for the three and six months ended June 30, 2019, respectively. Such amounts are recorded as contra-revenues by Realogy Brokerage Group. There are no other material intersegment transactions.
[2]	Transactions between segments are eliminated in consolidation. Revenues for the Realogy Franchise Group include intercompany royalties and marketing fees paid by Realogy Brokerage Group of $65 million and $123 million for the three and six months ended June 30, 2020, respectively, and $87 million and $142 million for the three and six months ended June 30, 2019, respectively. Such amounts are eliminated through the Corporate and Other line.
[3]	Includes the elimination of transactions between segments.

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

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Segment Information - Operating EBITDA (Details) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2020

Mar. 31, 2020

Sep. 30, 2019

Jun. 30, 2019

Dec. 31, 2008

Dec. 31, 2007

Jun. 30, 2020

Jun. 30, 2019

Depreciation and amortization

$ 172,000,000

$ 235,000,000

$ 209,000,000

$ 237,000,000

46,000,000

43,000,000

91,000,000

84,000,000

Interest expense, net

59,000,000

80,000,000

160,000,000

143,000,000

Income tax expense (benefit) from continuing operations

11,000,000

33,000,000

(121,000,000)

1,000,000

Loss on the early extinguishment of debt

^[1],[2]

14,000,000

9,000,000

25,000,000

18,000,000

Impairments

^[3]

7,000,000

2,000,000

454,000,000

3,000,000

^[4]

8,000,000

5,000,000

Net income (loss) from continuing operations attributable to Realogy Holdings

27,000,000

68,000,000

(408,000,000)

(17,000,000)

Net (loss) income attributable to Realogy Holdings and Realogy Group

(41,000,000)

1,000,000

(68,000,000)

(13,000,000)

(14,000,000)

69,000,000

(476,000,000)

(30,000,000)

Other Asset Impairment Charges

$ (413,000,000)

$ (237)

$ (1,153)

$ (489)

(413,000,000)

11,000,000

122,000,000

180,000,000

223,000,000

278,000,000

1,000,000

Realogy Franchise Group | Indefinite life—Trademarks (b) (c)

Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)

30,000,000

15,000,000

47,000,000

(36,000,000)

(15,000,000)

12,000,000

6,000,000

21,000,000

10,000,000

Net Decrease in Carrying Value

(413,000,000)

(314,000,000)

Income tax benefit associated with Goodwill Impairment Charge

$ 99,000,000

61,000,000

32,000,000

73,000,000

23,000,000

2,000,000

1,000,000

3,000,000

2,000,000

^[5]

$ (26,000,000)

(24,000,000)

$ (51,000,000)

(49,000,000)