Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Operating Activities
Net income		$ 23	$ 34
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization		51	51
Deferred income taxes		(6)	15
Impairments	[1]	0	1
Amortization of deferred financing costs and debt discount (premium)		3	3
Loss on the early extinguishment of debt		92	17
Gain on the sale of business, net	[2]	(131)	0
Equity in losses (earnings) of unconsolidated entities		(10)	31
Stock-based compensation		6	6
Mark-to-market adjustments on derivatives		(26)	(13)
Other adjustments to net income		1	(2)
Net change in assets and liabilities, excluding the impact of acquisitions and dispositions:
Trade receivables		(2)	(3)
Relocation receivables		(35)	(4)
Other assets		(37)	(14)
Accounts payable, accrued expenses and other liabilities		(172)	(117)
Dividends received from unconsolidated entities		1	31
Other, net		(11)	(11)
Net cash used in operating activities		(233)	(37)
Investing Activities
Property and equipment additions		(29)	(23)
Payments to Acquire Businesses, Net of Cash Acquired		(3)	(2)
Net proceeds from the sale of businesses		58	2
Investment in unconsolidated entities		(7)	(6)
Other, net		17	(3)
Net cash provided by (used in) investing activities		36	(32)
Financing Activities
Repayments of Term Loan A Facility and Term Loan B Facility		0	(905)
Proceeds from issuance of Senior Notes		1,000	905
Redemption of Senior Secured Second Lien Notes		(550)	0
Redemption of Senior Notes		(550)	0
Amortization payments on term loan facilities		(1)	(3)
Net change in securitization obligations		(13)	(7)
Debt issuance costs		(18)	(8)
Cash paid for fees associated with early extinguishment of debt		(80)	(11)
Taxes paid related to net share settlement for stock-based compensation		(16)	(8)
Other, net		(9)	(8)
Net cash used in financing activities		(237)	(45)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash		0	0
Net decrease in cash, cash equivalents and restricted cash		(434)	(114)
Cash, cash equivalents and restricted cash, beginning of period		743	523
Cash, cash equivalents and restricted cash, end of period		309	409
Supplemental Disclosure of Cash Flow Information
Interest payments (including securitization interest of $1 for both periods presented)		58	14
Income tax payments, net		2	2
Payments to Acquire Retained Interest in Securitized Receivables		$ 1	$ 1

[1] Non-cash impairments for the three months ended March 31, 2021 relate to lease asset impairments.

[2] Gain on the sale of business, net is recorded in Realogy Title Group related to the sale of the Title Underwriter.