Intangible Assets

6 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

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



	Real Estate Franchise Services			Company Owned Brokerage Services			Relocation Services			Title and Settlement Services			Total Company
Gross goodwill as of December 31, 2018	$	3,315		$	1,064		$	641		$	478		$	5,498
Accumulated impairment losses	(1,023		)	(158		)	(281		)	(324		)	(1,786		)
Balance at December 31, 2018	2,292			906			360			154			3,712
Goodwill acquired	—			—			—			—			—
Balance at June 30, 2019	$	2,292		$	906		$	360		$	154		$	3,712

Intangible assets are as follows:



	As of June 30, 2019						As of December 31, 2018
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortizable—Franchise agreements (a)	$	2,019	$	826	$	1,193	$	2,019	$	792	$	1,227
Indefinite life—Trademarks (b)	$	749			$	749	$	749			$	749
Other Intangibles
Amortizable—License agreements (c)	$	45	$	11	$	34	$	45	$	11	$	34
Amortizable—Customer relationships (d)	549		371		178		549		359		190
Indefinite life—Title plant shares (e)	19				19		18				18
Amortizable—Other (f)	33		24		9		33		21		12
Total Other Intangibles	$	646	$	406	$	240	$	645	$	391	$	254

_______________


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


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


(c)	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).


(d)	Relates to the customer relationships at the Relocation Services segment, the Title and Settlement Services segment and our Company Owned Real Estate Brokerage Services segment. These relationships are being amortized over a period of 2 to 20 years.


(e)	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.


(f)	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,
	2019		2018		2019		2018
Franchise agreements	$	17	$	17	$	34	$	34
Customer relationships	6		6		12		12
Other	1		1		2		3
Total	$	24	$	24	$	48	$	49

Based on the Company’s amortizable intangible assets as of June 30, 2019, the Company expects related amortization expense for the remainder of 2019, the four succeeding years and thereafter to be approximately $49 million, $95 million, $93 million, $92 million, $91 million and $994 million, respectively.