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Investments, Equity Method and Joint Ventures
 12 Months Ended
Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments and Joint Ventures Disclosure EQUITY METHOD INVESTMENTS
The Company applies the equity method of accounting for investments in ventures when it possesses significant influence over operational and financial decisions but lacks controlling interests. The Company records its proportionate share of net earnings or losses from these equity method investments under the "Equity in (earnings) losses of unconsolidated entities" line in the Consolidated Statements of Operations. Investments not subject to the equity method are valued at fair market value with adjustments recognized in net income. If the fair value is not readily determinable, these investments are measured at cost minus impairment (if any), plus or minus changes reflecting observable price changes in orderly transactions for an identical or similar investment.
The Company has various equity method investments classified within other non-current assets on the Consolidated Balance Sheets. Although the Company holds certain governance rights, it lacks controlling financial or operational interests in these investments. Equity earnings or losses attributable to these investments are included in the financial results of the Title Group and Owned Brokerage Group reportable segments. The Company's equity method investment balances at December 31, 2023 and 2022 were as follows:
December 31,
 20232022
Guaranteed Rate Affinity (1)
$67 $72 
Title Insurance Underwriter Joint Venture (2)
74 75 
Other Title Group equity method investments (3)
11 10 
Total Title Group equity method investments
152 157 
Owned Brokerage Group equity method investments (4)
26 27 
Total equity method investments$178 $184 
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(1)Guaranteed Rate Affinity is the Company's 49.9% minority-owned mortgage origination joint venture with Guaranteed Rate, Inc which originates and markets its mortgage lending services to the Company's real estate brokerage as well as other real estate brokerage companies across the country. The Company received $5 million in cash dividends from Guaranteed Rate Affinity during the year ended December 31, 2023.
(2)Includes the Company's 25% equity interest in the Title Insurance Underwriter Joint Venture formed in March 2022 as a result of the sale of the Company's Title Underwriter. See Note 1, "Basis of Presentation—Sale of the Title Insurance Underwriter", for additional information related to the sale of the Title Underwriter and subsequent sales of a portion of the Company's ownership in the Title Insurance Underwriter Joint Venture.
(3)Includes Title Group's various other equity method investments. The Company invested an additional $1 million and received $3 million in cash dividends related to these investments during the year ended December 31, 2023.
(4)Includes the Company's 50% owned unconsolidated real estate auction joint venture with Sotheby's which holds an 80% ownership stake in Sotheby's Concierge Auctions, a global luxury real estate auction marketplace that partners with real estate agents to host luxury online auctions for clients, the Company's former 49% investment in RealSure (operations were ceased in the fourth quarter of 2022), and other brokerage related investments. The Company recorded a $3 million loss on the sale of a brokerage related investment during the year ended December 31, 2023.
The Company recorded equity in (earnings) losses from its equity method investments as follows:
Year Ended December 31,
 202320222021
Guaranteed Rate Affinity$— $22 $(49)
Title Insurance Underwriter Joint Venture(4)(6)— 
Other Title Group equity method investments
(3)(5)(6)
Owned Brokerage Group equity method investments(2)17 7 
Equity in (earnings) losses of unconsolidated entities$(9)$28 $(48)