Segment Information (Tables)

12 Months Ended

Dec. 31, 2013



	Revenues (a) (b)
	For the Year Ended December 31,
	2013			2012			2011
Real Estate Franchise Services	$	690		$	604		$	557
Company Owned Real Estate Brokerage Services	3,990			3,469			2,970
Relocation Services	419			423			423
Title and Settlement Services	467			421			359
Corporate and Other (c)	(277		)	(245		)	(216		)
Total Company	$	5,289		$	4,672		$	4,093

_______________

(a)

Transactions between segments are eliminated in consolidation. Revenues for the Real Estate Franchise Services segment include intercompany royalties and marketing fees paid by the Company Owned Real Estate Brokerage Services segment of $277 million for the year ended December 31, 2013, $245 million for the year ended December 31, 2012 and $216 million for the year ended December 31, 2011. Such amounts are eliminated through the Corporate and Other line.

(b)

Revenues for the Relocation Services segment include intercompany referral commissions paid by the Company Owned Real Estate Brokerage Services segment of $43 million for the year ended December 31, 2013, $39 million for the year ended December 31, 2012 and $37 million for the year ended December 31, 2011. Such amounts are recorded as contra-revenues by the Company Owned Real Estate Brokerage Services segment. There are no other material intersegment transactions.


(c)	Includes the elimination of transactions between segments.

EBITDA



	EBITDA (a)
	For the Year Ended December 31,
	2013			2012			2011
Real Estate Franchise Services	$	448		$	364		$	320
Company Owned Real Estate Brokerage Services	206			165			56
Relocation Services	104			103			115
Title and Settlement Services	50			38			29
Corporate and Other (b)	(155		)	(473		)	(77		)
Total Company	$	653		$	197		$	443

______________

(a)

Includes $68 million related to the loss on the early extinguishment of debt, $47 million related to the Phantom Value Plan and $4 million of restructuring costs, partially offset by a net benefit of $4 million of former parent legacy items for the year ended December 31, 2013. Includes $361 million of IPO related costs (of which $256 million was non-cash and related to the issuance of additional shares and $105 million was a cash fee payment), $39 million expense for the Apollo management fee termination agreement, $24 million loss on the early extinguishment of debt and, $12 million of restructuring costs, partially offset by a net benefit of $8 million of former parent legacy items for the year ended December 31, 2012. Includes $36 million loss on early extinguishment of debt and $11 million of restructuring costs, partially offset by a net benefit of $15 million of former parent legacy items for the year ended December 31, 2011.


(b)	Includes the elimination of transactions between segments.

Provided below is a reconciliation of EBITDA to Net income (loss) attributable to Realogy Holdings and Realogy Group:



	For the Year Ended December 31,
	2013			2012			2011
EBITDA	$	653		$	197		$	443

Less: Depreciation and amortization	176			173			186
Interest expense, net	281			528			666
Income tax (benefit) expense	(242		)	39			32
Net income (loss) attributable to Realogy Holdings and Realogy Group	$	438		$	(543	)	$	(441	)

Depreciation, Amortization and Capital Expenditures

Capital Expenditures



	For the Year Ended December 31,
	2013		2012		2011
Real Estate Franchise Services	$	6	$	6	$	7
Company Owned Real Estate Brokerage Services	29		21		22
Relocation Services	6		8		7
Title and Settlement Services	11		10		8
Corporate and Other	10		9		5
Total Company	$	62	$	54	$	49

Depreciation and Amortization



	For the Year Ended December 31,
	2013		2012		2011
Real Estate Franchise Services	$	75	$	75	$	77
Company Owned Real Estate Brokerage Services	35		35		41
Relocation Services	44		45		47
Title and Settlement Services	11		10		12
Corporate and Other	11		8		9
Total Company	$	176	$	173	$	186

Segment Assets



	As of December 31
	2013		2012
Real Estate Franchise Services	$	4,606	$	4,667
Company Owned Real Estate Brokerage Services	914		888
Relocation Services	1,174		1,262
Title and Settlement Services	320		313
Corporate and Other	312		315
Total Company	$	7,326	$	7,445

Geographic Segment Information

The geographic segment information provided below is classified based on the geographic location of the Company’s subsidiaries.



	United States		All Other Countries		Total
On or for the year ended December 31, 2013
Net revenues	$	5,167	$	122	$	5,289
Total assets	7,232		94		7,326
Net property and equipment	204		1		205
On or for the year ended December 31, 2012
Net revenues	$	4,546	$	126	$	4,672
Total assets	7,344		101		7,445
Net property and equipment	187		1		188
On or for the year ended December 31, 2011
Net revenues	$	3,968	$	125	$	4,093
Total assets	7,246		104		7,350
Net property and equipment	164		1		165