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Short And Long-Term Debt Indebtedness Table (Details)
£ in Millions, $ in Millions
6 Months Ended
Jun. 30, 2019
USD ($)
Aug. 06, 2019
USD ($)
Jun. 30, 2019
GBP (£)
Dec. 31, 2018
USD ($)
Feb. 28, 2018
USD ($)
Jan. 31, 2017
USD ($)
Principal Amount            
Long-term debt principal amount [1] $ 3,925          
Securitization obligations outstanding 204     $ 231    
Unamortized Discount and Debt Issuance Costs            
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net [1] 32          
Net Amount            
Outstanding borrowings, long-term debt [1] 3,893          
Securitization obligations outstanding 204     231    
Letter of Credit, borrowing capacity $ 125          
LIBOR            
Net Amount            
Description of variable interest rate basis LIBOR          
ABR            
Net Amount            
Description of variable interest rate basis ABR          
Term Loan B | LIBOR            
Net Amount            
Debt Instrument, Basis Spread on Variable Rate 2.25%          
Debt Instrument, Basis Spread on Variable Rate, Floor 0.75%   0.75%      
Term Loan B | ABR            
Net Amount            
Debt Instrument, Basis Spread on Variable Rate 1.25%          
Debt Instrument, Basis Spread on Variable Rate, Floor 1.75%   1.75%      
Unsecured Letter of Credit Facility            
Net Amount            
Interest Rate 3.33%   3.33%      
Letter of Credit, borrowing capacity $ 66     66    
Outstanding letters of credit 58     63    
Secured Debt | Term Loan B            
Principal Amount            
Long-term debt principal amount 1,064 [2]     1,069 $ 1,080  
Unamortized Discount and Debt Issuance Costs            
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net [2] 15          
Net Amount            
Outstanding borrowings, long-term debt $ 1,049 [2]     1,053    
Annual percentage of original principal amount for quarterly amortization payments 1.00%   1.00%      
Secured Debt | Term Loan A            
Principal Amount            
Long-term debt principal amount $ 727 [3]     736 750  
Unamortized Discount and Debt Issuance Costs            
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net [3] 4          
Net Amount            
Outstanding borrowings, long-term debt $ 723 [3]     732    
Secured Debt | 2018 | Term Loan A            
Net Amount            
Annual percentage of original principal amount for quarterly amortization payments 2.50%   2.50%      
Secured Debt | 2019 | Term Loan A            
Net Amount            
Annual percentage of original principal amount for quarterly amortization payments 2.50%   2.50%      
Secured Debt | 2020 | Term Loan A            
Net Amount            
Annual percentage of original principal amount for quarterly amortization payments 5.00%   5.00%      
Secured Debt | 2021 | Term Loan A            
Net Amount            
Annual percentage of original principal amount for quarterly amortization payments 7.50%   7.50%      
Secured Debt | 2022 | Term Loan A            
Net Amount            
Annual percentage of original principal amount for quarterly amortization payments 10.00%   10.00%      
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            
Net Amount            
Debt Instrument, Basis Spread on Variable Rate 2.25%          
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            
Net Amount            
Debt Instrument, Basis Spread on Variable Rate 1.25%          
Senior Notes | 5.25% Senior Notes            
Principal Amount            
Long-term debt principal amount $ 550     550    
Unamortized Discount and Debt Issuance Costs            
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net 2          
Net Amount            
Outstanding borrowings, long-term debt $ 548     547    
Interest Rate 5.25%   5.25%      
Senior Notes | 4.875% Senior Notes            
Principal Amount            
Long-term debt principal amount $ 500     500    
Unamortized Discount and Debt Issuance Costs            
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net 3          
Net Amount            
Outstanding borrowings, long-term debt $ 497     497    
Interest Rate 4.875%   4.875%      
Senior Notes | 9.375% Senior Notes            
Principal Amount            
Long-term debt principal amount $ 550     0    
Unamortized Discount and Debt Issuance Costs            
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net 8          
Net Amount            
Outstanding borrowings, long-term debt $ 542     0    
Interest Rate 9.375%   9.375%      
Line of Credit | Revolving Credit Facility            
Principal Amount            
Line of credit facility outstanding $ 330 [4],[5]     270    
Net Amount            
Outstanding borrowings, short-term debt, line of credit facility 330 [4],[5]     270    
Total capacity, short-term debt, line of credit facility $ 1,425 [4],[5]       $ 1,400 $ 1,050
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            
Net Amount            
Debt Instrument, Basis Spread on Variable Rate 2.25%          
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            
Net Amount            
Debt Instrument, Basis Spread on Variable Rate 1.25%          
Securitization obligations            
Principal Amount            
Securitization obligations outstanding $ 204     231    
Net Amount            
Securitization obligations outstanding 204     231    
Securitization obligations | Apple Ridge Funding LLC            
Principal Amount            
Securitization obligations outstanding 193 [6],[7]     218    
Net Amount            
Securitization obligations outstanding 193 [6],[7]     218    
Total capacity, securitization obligations [3],[6] 250          
Debt Instrument, Unused Borrowing Capacity, Amount 57          
Securitization obligations | Cartus Financing Limited            
Principal Amount            
Securitization obligations outstanding 11 [6],[8]     13    
Net Amount            
Securitization obligations outstanding 11 [6],[8]     $ 13    
Total capacity, securitization obligations [3],[6] 19          
Debt Instrument, Unused Borrowing Capacity, Amount $ 8          
Securitization obligations | Revolving Credit Facility | Cartus Financing Limited            
Net Amount            
Total capacity, securitization obligations | £     £ 10      
Securitization obligations | Working Capital Facility | Cartus Financing Limited            
Net Amount            
Total capacity, securitization obligations | £     £ 5      
Subsequent Event [Member] | Line of Credit | Revolving Credit Facility            
Principal Amount            
Line of credit facility outstanding [4],[5]   $ 265        
Net Amount            
Outstanding borrowings, short-term debt, line of credit facility [4],[5]   $ 265        
[1]
Not included in this table is the Company's Unsecured Letter of Credit Facility which had a capacity of $66 million with $58 million utilized at a weighted average rate of 3.33% at June 30, 2019.
[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%).
[3]
The Term Loan A provides for quarterly amortization payments, which commenced on June 30, 2018, totaling per annum 2.5%, 2.5%, 5.0%, 7.5% and 10.0% of the original principal amount of the Term Loan A, 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, 2019.
[4]
As of June 30, 2019, the Company had $1,425 million of borrowing capacity under its Revolving Credit Facility. 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. In March 2019, the Company increased the borrowing capacity under its Revolving Credit Facility to $1,425 million from $1,400 million. On August 6, 2019, the Company had $265 million in outstanding borrowings under the Revolving Credit Facility.
[5]
Interest rates with respect to revolving loans under the Senior Secured Credit Facility at June 30, 2019 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, 2019.
[6]
Available capacity is subject to maintaining sufficient relocation related assets to collateralize these securitization obligations.
[7] , Realogy Group extended the existing Apple Ridge Funding LLC securitization program utilized by Cartus until June 2020. As of June 30, 2019, the Company had $250 million of borrowing capacity under the Apple Ridge Funding LLC securitization program leaving $57 million of available capacity.
[8]
Consists of a £10 million revolving loan facility and a £5 million working capital facility. As of June 30, 2019, the Company had $19 million of borrowing capacity under the Cartus Financing Limited securitization program leaving $8 million of available capacity.