{"id":11960,"date":"2018-02-27T12:25:00","date_gmt":"2018-02-27T17:25:00","guid":{"rendered":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/realogy-reports-financial-results-for-full-year-2017\/"},"modified":"2018-02-27T12:25:00","modified_gmt":"2018-02-27T17:25:00","slug":"realogy-reports-financial-results-for-full-year-2017","status":"publish","type":"post","link":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/realogy-reports-financial-results-for-full-year-2017\/","title":{"rendered":"Realogy Reports Financial Results For Full Year 2017"},"content":{"rendered":"<style type=\"text\/css\">\n<p>\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen32{\nBORDER-TOP:black 1pt solid; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; 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PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.67em\n}\n.prngen18{\nBORDER-TOP:black 1pt solid; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen41{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prngen14{\nBORDER-TOP:black 1pt solid; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 2pt double; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.67em\n}\n.prngen22{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: CENTER; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prnsbt1{\nBORDER-TOP:1pt\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prnpl20{\nPADDING-LEFT:1.67em\n}\n.prnml6{\nMARGIN-LEFT:0.50em\n}\n.prnpl8{\nPADDING-LEFT:0.67em\n}\n.prnsbb1{\nBORDER-BOTTOM:1pt\n}\n.prnsbts{\nBORDER-TOP:black 1pt solid\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnsbr1{\nBORDER-RIGHT:1pt\n}\n.prnpr8{\nPADDING-RIGHT:0.67em\n}\n.prnsbbs{\nBORDER-BOTTOM:black 1pt solid\n}\n.prnml20{\nMARGIN-LEFT:1.67em\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n.prnvat{\nVERTICAL-ALIGN: TOP\n}\n.prnsbl1{\nBORDER-LEFT:1pt\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}<\/p>\n<\/style>\n<p><span class=\"xn-location\">MADISON, N.J.<\/span>, Feb.&nbsp;27, 2018 \/PRNewswire\/ &#8212; Realogy Holdings Corp. (NYSE: RLGY), the largest full-service residential real estate services company in <span class=\"xn-location\">the United States<\/span>, today reported financial results for the full year ended December&nbsp;31, 2017, including the following highlights:<\/p>\n<ul type=\"disc\">\n<li>Revenue was <span class=\"xn-money\">$6.1 billion<\/span>, an increase of 5% compared to 2016, driven by increases in homesale transaction volume (transaction sides multiplied by average sale price).\n<\/li>\n<li>Realogy grew its U.S. market share of existing homesale transaction volume to 15.9%, up from 15.7% in 2016.\n<\/li>\n<li>Combined 2017 homesale transaction volume for Realogy increased 7% year-over-year, which exceeded the National Association of Realtors reported annual industry volume increase of 6% in 2017.\n<\/li>\n<li>Net income was <span class=\"xn-money\">$431 million<\/span> for 2017, compared to <span class=\"xn-money\">$213 million<\/span> for 2016. Basic earnings per share was <span class=\"xn-money\">$3.15<\/span> compared with basic earnings per share of <span class=\"xn-money\">$1.47<\/span> in 2016. This reflects the recognition of a <span class=\"xn-money\">$216 million<\/span> tax benefit, most of which is due to the 2017 Tax Cuts and Jobs Act, which reduces Realogy&#8217;s effective tax rate from an estimated 41% to an estimated 29%.\n<\/li>\n<li>Adjusted net income per share for 2017 was <span class=\"xn-money\">$1.59<\/span> compared with <span class=\"xn-money\">$1.64<\/span> for 2016. <i>(See Table 1a).<sup>1<\/sup><\/i>\n<\/li>\n<li>Free Cash Flow for 2017 was <span class=\"xn-money\">$559 million<\/span> compared with <span class=\"xn-money\">$456 million<\/span> for 2016, an increase of <span class=\"xn-money\">$103 million<\/span>. <i>(See Table 7).<sup>3<\/sup><\/i> Free Cash Flow for 2017 includes <span class=\"xn-money\">$27 million<\/span> relating to the transition to a new mortgage joint venture partner.\n<\/li>\n<li>Operating EBITDA for 2017 was <span class=\"xn-money\">$732 million<\/span>, compared with <span class=\"xn-money\">$770 million<\/span> for 2016. <i>(See Table 5)<\/i>.<sup>2<\/sup> The 5% decline was primarily attributable to higher agent commission rates, reduced earnings in our relocation segment, and several non-recurring charges.\n<\/li>\n<li>In 2017, Realogy returned <span class=\"xn-money\">$325 million<\/span> of capital to stockholders through share repurchases and dividends.<\/li>\n<\/ul>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p><img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/350553\/realogy_holdings_corp__logo.jpg\" title=\"Realogy logo. (PRNewsFoto\/Realogy Holdings Corp.)\" alt=\"Realogy logo. (PRNewsFoto\/Realogy Holdings Corp.)\"\/><\/p>\n<\/p><\/div>\n<p>&quot;Realogy is at the heart of the attractive U.S. residential real estate market, and I believe we have a compelling combination of critical and unique advantages as the market leader,&quot; said <span class=\"xn-person\">Ryan Schneider<\/span>, Realogy&#8217;s new chief executive officer and president. &quot;Success requires that we deliver better business results, and we are moving quickly to drive change to enhance shareholder value. Our strategy is anchored by an aggressive focus on serving and supporting agents to help them become more successful, in large part by leveraging our technology and data scale.&quot;<\/p>\n<p>&quot;During the past three years, Realogy has generated <span class=\"xn-money\">$1.5 billion<\/span> in free cash flow,&quot; said <span class=\"xn-person\">Anthony E. Hull<\/span>, Realogy&#8217;s executive vice president, chief financial officer and treasurer.&nbsp; &quot;The majority of our strong cash flow was allocated to repurchase shares, pay dividends and reduce debt.&nbsp; We expect to continue this capital management strategy going forward.&quot;<\/p>\n<p>In 2017, RFG and NRT&#8217;s 192,000 U.S.-based affiliated sales agents helped consumers with 1.5 million homesale transactions.&nbsp; In aggregate, Realogy achieved homesale transaction volume of approximately <span class=\"xn-money\">$508 billion<\/span>, an increase of 7% compared with 2016.&nbsp; NRT average homesale price increased 5% and homesale transaction sides increased 3%, while RFG reported an average homesale price increase of 6% and a homesale transaction sides increase of 1%.<\/p>\n<p>In the title and settlement services sector, TRG was involved in the closing of approximately 188,000 transactions in 2017, reflecting a 4% increase in purchase units compared with 2016, and notwithstanding a 44% decrease in refinance units, which is consistent with industry trends.<\/p>\n<p>In the relocation segment, Cartus&#8217; results in 2017 decreased from the prior year due to reductions in their global relocation activity and lower overall volume.&nbsp; Cartus continues to be an important part of the Company&#8217;s value proposition, generating highly qualified leads for its network of affiliated agents and helping them to build their businesses.&nbsp; Cartus generated referral opportunities to agents that resulted in approximately 76,000 in-network homesale closings for Realogy and its brands in 2017.<\/p>\n<p><b>Capital Allocation, Quarterly Dividend and New Share Repurchase Authorization<\/b><\/p>\n<p>Since the share repurchase program&#8217;s inception in <span class=\"xn-chron\">February 2016<\/span>, the Company has repurchased approximately 18 million shares at an average price of <span class=\"xn-money\">$28.60<\/span> for <span class=\"xn-money\">$515 million<\/span> in the aggregate, thereby reducing its share count by 11% in that time period.&nbsp; As a result, Realogy had approximately 130.2 million shares of common stock outstanding as of <span class=\"xn-chron\">February 23, 2018<\/span>.<\/p>\n<p>Realogy today announced that its Board of Directors has authorized a new share repurchase program of up to <span class=\"xn-money\">$350 million<\/span> of the Company&#8217;s common stock.&nbsp; This is in addition to the <span class=\"xn-money\">$60 million<\/span> remaining under the current <span class=\"xn-money\">$300 million<\/span> share repurchase authorization announced in February 2017.&nbsp; Repurchases may be made at management&#8217;s discretion from time to time on the open market or through privately negotiated transactions.&nbsp; The size and timing of these repurchases will depend on price, market and economic conditions, legal and contractual requirements and other factors.&nbsp; The repurchase program has no time limit and may be suspended or discontinued at any time.<\/p>\n<p>On <span class=\"xn-chron\">February 26, 2018<\/span>, the Board of Directors of the Company declared a quarterly cash dividend of <span class=\"xn-money\">$0.09<\/span> per share of the Company&#8217;s common stock.&nbsp; This dividend payment will be made on <span class=\"xn-chron\">March 26, 2018<\/span> to shareholders of record as of the close of business on <span class=\"xn-chron\">March 12, 2018<\/span>.<\/p>\n<p><b>Balance Sheet<\/b><\/p>\n<p>The Company ended the year with cash and cash equivalents of <span class=\"xn-money\">$227 million<\/span>.&nbsp; Total long-term corporate debt, including the short-term portion, net of cash and cash equivalents (net corporate debt), totaled <span class=\"xn-money\">$3.2 billion<\/span> at December&nbsp;31, 2017.&nbsp; The Company&#8217;s net debt leverage ratio<sup>4<\/sup> was 3.9 times at December&nbsp;31, 2017.<\/p>\n<p>In <span class=\"xn-chron\">February 2018<\/span>, the Company announced that it had completed the refinancing of its senior secured credit facilities and extended its maturity&nbsp;dates.<\/p>\n<p>Specifically, the Company made the following changes:<\/p>\n<ul type=\"disc\">\n<li>increased its revolving credit facility by <span class=\"xn-money\">$350 million<\/span> to a <span class=\"xn-money\">$1.4 billion<\/span> total facility and extended its maturity by three years to <span class=\"xn-chron\">February 2023<\/span>;\n<\/li>\n<li>combined its existing two tranches of term loan A and term loan A-1 into a new single tranche of <span class=\"xn-money\">$750 million<\/span> and extended the current maturities to <span class=\"xn-chron\">February 2023<\/span>; and\n<\/li>\n<li>extended the maturity of its approximately <span class=\"xn-money\">$1.1 billion<\/span> term loan B by three years to <span class=\"xn-chron\">February 2025<\/span>.<\/li>\n<\/ul>\n<p>&quot;We have decreased our debt from <span class=\"xn-money\">$3.9 billion<\/span> at the end of 2013 to <span class=\"xn-money\">$3.3 billion<\/span> at the end of 2017,&quot; added Hull. &quot;The refinancing of our term loan facilities increased our revolver capacity to <span class=\"xn-money\">$1.4 billion<\/span> and furthered our capital structure strategy of creating a staggered maturity profile on our debt structure.&quot;<\/p>\n<p>At year end, the Company&#8217;s net operating loss carryforwards were <span class=\"xn-money\">$1.0 billion<\/span>, which it expects will allow it to continue to pay minimal cash taxes through 2019.<\/p>\n<p>A consolidated balance sheet is included as Table 2 of this press release.<\/p>\n<p><b>Investor Conference Call<\/b><\/p>\n<p>Today, February&nbsp;27, at <span class=\"xn-chron\">8:30 a.m. (EDT)<\/span>, Realogy will hold a conference call via webcast to review its full year 2017 results. The webcast will be hosted by <span class=\"xn-person\">Ryan Schneider<\/span>, chief executive officer and president, and <span class=\"xn-person\">Anthony E. Hull<\/span>, executive vice president, chief financial officer and treasurer, and will conclude with an investor Q&amp;A period with management.<\/p>\n<p>Investors may access the conference call live via webcast at ir.realogy.com or by dialing (888) 895-3527 (toll free); international participants should dial (706) 679-2250. Please dial in at least 5 to 10 minutes prior to start time. A webcast replay also will be available on the website.<\/p>\n<p><b>About Realogy Holdings Corp.<\/b><\/p>\n<p>Realogy Holdings Corp. (NYSE: RLGY) is the leading and most integrated provider of residential real estate services that is focused on empowering independent sales agents to best serve today&#8217;s consumers. Realogy delivers its services through its well-known industry brands including Better Homes and Gardens<sup>&reg;<\/sup> Real Estate, CENTURY 21<sup>&reg;<\/sup>, <span class=\"xn-person\">Coldwell Banker<\/span><sup>&reg;<\/sup>, Coldwell Banker Commercial<sup>&reg;<\/sup>, Corcoran Group<sup>&reg;<\/sup>, ERA<sup>&reg;<\/sup>, Sotheby&#8217;s International Realty<sup>&reg;<\/sup> as well as NRT, Cartus, Title Resource Group and ZapLabs, an in-house innovation and technology development lab. Realogy&#8217;s fully integrated business model includes brokerage, franchising, relocation, mortgage, and title and settlement services. Realogy provides independent sales agents access to leading technology, best-in-class marketing and learning programs, and support services to help them become more productive and build stronger businesses. Realogy&#8217;s affiliated brokerages operate around the world with approximately 192,000 independent sales agents in <span class=\"xn-location\">the United States<\/span> and approximately 97,000 independent sales agents in more than 115 other countries and territories. Realogy is headquartered in <span class=\"xn-location\">Madison, New Jersey<\/span>.<\/p>\n<p><b><i>Footnotes:<\/i><\/b><\/p>\n<p><i><sup>1 <\/sup><\/i><i>&nbsp;Adjusted net income (loss) is defined as net income (loss) before mark-to-market interest rate swap adjustments, former parent legacy items, restructuring charges, the loss on the early extinguishment of debt, the tax effect of the foregoing adjustments and the impact of the 2017 Tax Cut and Jobs Act and adjustments to the reserve for uncertain tax positions.<\/i><\/p>\n<p><i><sup>2<\/sup><\/i><i>&nbsp; Operating EBITDA is defined as EBITDA before restructuring costs, loss on the early extinguishment of debt and former parent legacy items.<\/i><\/p>\n<p><i><sup>3&nbsp; <\/sup><\/i><i>Free Cash Flow is defined as net income (loss) attributable to Realogy before income tax expense (benefit), net of payments, net interest expense, cash interest payments, depreciation and amortization, capital expenditures, restructuring costs and former parent legacy costs (benefits), net of payments, loss on the early extinguishment of debt, working capital adjustments and relocation receivables (assets), net of change in securitization obligations.<\/i><\/p>\n<p><sup>4&nbsp; <\/sup><i>Net corporate debt divided by EBITDA, as defined by the Senior Secured Credit Facility, for the twelve-month period ended December&nbsp;31, 2017.<\/i><\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p><i>Certain statements in this press release constitute &quot;forward-looking statements.&quot;&nbsp; Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Realogy Holdings Corp. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words &quot;believes&quot;, &quot;expects&quot;, &quot;anticipates&quot;, &quot;intends&quot;, &quot;projects&quot;, &quot;estimates&quot; and &quot;plans&quot; and similar expressions or future or conditional verbs such as &quot;will&quot;, &quot;should&quot;, &quot;would&quot;, &quot;may&quot; and &quot;could&quot; are generally forward-looking in nature and not historical facts. Any statements that refer to expectations or other characterizations of future events, circumstances or results are forward-looking statements.<\/i><\/p>\n<p><i>Various factors that could cause actual future results and other future events to differ materially from those estimated by management include, but are not limited to: adverse developments or the absence of sustained improvement in general business, economic and political conditions; adverse developments or the absence of improvement in the residential real estate markets including but not limited to insufficient or excessive home inventory levels by market and price point, the lack of sustained improvement in the number of home sales and\/or stagnant or declining home prices, a decrease in consumer confidence, the impact of slow economic growth, future recessions or high levels of unemployment in the U.S. and abroad, deceleration in the building of new housing and\/or irregular timing or volume of new development closings, renewed high levels of foreclosures, seasonal fluctuations in the residential real estate brokerage business, and increasing mortgage rates and down payment requirements and\/or constraints on the availability of mortgage financing; the potential negative impact of certain provisions of the Tax Cuts and Jobs Act on home values over time in states with high property, sales and state and local income taxes or on homeownership rates; the Company&#8217;s inability to achieve independent sales agent recruiting and retention goals without continuing pressure on the share of gross commission income paid by us to such agents and the inability to increase independent sales agent productivity; increased competition; our inability to successfully develop or obtain new technologies and systems; the Company&#8217;s geographic and high-end market concentration, particularly with respect to its Company-owned brokerage operations; changes in corporate relocation practices resulting in fewer employee relocations or reduced relocation benefits; the Company&#8217;s failure to enter into or renew franchise agreements at current contractual royalty rates and without increasing the amount and prevalence of sales incentives; the Company&#8217;s failure to maintain its brands; risks relating to our outstanding debt and interest obligations and restrictions contained in our debt agreements; variable rate indebtedness which subjects the Company to interest rate risk; the Company&#8217;s inability to access capital or refinance or repay existing indebtedness, or return capital to stockholders; the Company&#8217;s inability to realize the benefits from acquisitions or the Company&#8217;s mortgage origination joint venture with Guaranteed Rate, Inc.; our failure or alleged failure to comply with laws, regulations and regulatory interpretations; the Company&#8217;s inability to achieve anticipated cost savings from its restructuring activities; any adverse resolution of litigation, governmental or regulatory proceedings or arbitration awards; the final resolution or outcomes with respect to Cendant&#8217;s (our former parent) remaining contingent liabilities; and the failure or disruption of our operations, or the compromise of our systems or data, as a result of various causes, including cybersecurity attacks.<\/i><\/p>\n<p><i>Consideration should be given to the areas of risk described above, as well as those risks set forth under the headings &quot;Forward-Looking Statements&quot; and &quot;Risk Factors&quot; in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December&nbsp;31, 2017, and our other filings made from time to time, in connection with considering any forward-looking statements that may be made by us and our businesses generally. Except for our ongoing obligations to disclose material information under the federal securities laws, we undertake no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events unless we are required to do so by law.<\/i><\/p>\n<p><b><i>Non-GAAP Financial Measures<\/i><\/b><\/p>\n<p><i>This release includes certain non-GAAP financial measures as defined under SEC rules. As required by&nbsp;SEC&nbsp;rules, important information regarding such measures is contained in the Tables attached to this release. <span class=\"xn-person\">See Tables<\/span> 1a, 8 and 9 for definitions of these non-GAAP financial measures and Tables 1a, 4a, <span class=\"xn-money\">4b<\/span>, 5, 6, 7 and 8 for reconciliations of the historical non-GAAP financial measures to their most comparable GAAP terms.<\/i><\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Investor Contacts:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Media Contact:<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Alicia Swift<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Mark Panus<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(973) 407-4669<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(973) 407-7215<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><a target=\"_blank\" href=\"mailto:alicia.swift@realogy.com\" class=\"prnews_a\" rel=\"nofollow noopener\">alicia.swift@realogy.com<\/a> <\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><a target=\"_blank\" href=\"mailto:mark.panus@realogy.com\" class=\"prnews_a\" rel=\"nofollow noopener\">mark.panus@realogy.com<\/a> <\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Jennifer Halchak<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(973) 407-7487<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><a target=\"_blank\" href=\"mailto:jennifer.halchak@realogy.com\" class=\"prnews_a\" rel=\"nofollow noopener\">jennifer.halchak@realogy.com<\/a> <\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><\/p>\n<p>&nbsp;<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"24\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Table 1<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"24\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>REALOGY HOLDINGS CORP.<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>CONSOLIDATED STATEMENTS OF OPERATIONS<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(In millions, except per share data)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"11\" class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"11\" class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"11\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Three Months Ended <br \/>December 31,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"11\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Year Ended<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>&nbsp;December 31,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2015<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2015<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Revenues<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Gross commission income<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,071<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">989<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">978<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,576<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,277<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,288<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Service revenue<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">228<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">240<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">218<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">938<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">955<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">882<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Franchise fees<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">100<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">92<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">84<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">396<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">372<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">353<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Other<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">45<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">49<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">45<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">204<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">206<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">183<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net revenues<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,444<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,370<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,325<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6,114<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,810<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,706<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Expenses<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Commission and other agent-related costs<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">768<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">689<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">669<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,230<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,945<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,931<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Operating<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">382<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">384<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">369<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,544<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,542<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,458<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Marketing<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">66<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">60<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">55<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">261<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">241<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">226<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">General and administrative<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">95<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">87<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">82<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">364<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">321<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">337<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Former parent legacy benefit, net<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(10)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(15)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Restructuring costs, net<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">39<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Depreciation and amortization<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">49<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">53<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">48<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">198<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">202<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">201<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Interest expense, net<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">31<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">43<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">158<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">174<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">231<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Loss on the early extinguishment of debt<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">48<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">48<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Other expense (income), net<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Total expenses<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,395<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,284<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,324<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,763<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,461<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,424<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Income before income taxes, equity in earnings and noncontrolling interests<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">49<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">86<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">351<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">349<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">282<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Income tax (benefit) expense<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(196)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">30<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(6)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(65)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">144<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">110<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Equity in earnings of unconsolidated entities<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(11)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(18)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(12)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(16)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Net income<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">256<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">58<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">434<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">217<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">188<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Less: Net income attributable to noncontrolling interests<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(4)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(4)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Net income attributable to Realogy Holdings<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">255<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">57<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">431<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">213<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">184<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Earnings per share attributable to Realogy Holdings:<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Basic earnings per share<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.91<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.40<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.06<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3.15<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.47<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.26<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Diluted earnings per share<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.89<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.40<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.06<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3.11<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.46<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.24<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"20\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Weighted average common and common equivalent shares of Realogy Holdings outstanding:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Basic<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">133.4<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">141.9<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">146.7<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">136.7<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">144.5<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">146.5<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Diluted<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">135.2<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">143.2<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">148.2<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">138.4<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">145.8<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">148.1<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbb1 prntar prnpl20 prnsbl1 prnpr8\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Cash dividends declared per share (beginning in August 2016)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.09<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.09<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.36<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.18<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<p><b>Table 1a<\/b><\/p>\n<p class=\"prntac\"><b>REALOGY HOLDINGS CORP.<br \/><\/b><b>NON-GAAP RECONCILIATION<br \/><\/b><b>ADJUSTED NET INCOME AND ADJUSTED EARNINGS PER SHARE<br \/><\/b><b>(In millions, except per share data)<\/b><\/p>\n<p>We present Adjusted net income and Adjusted earnings per share because we believe these measures are useful as supplemental measures in evaluating the performance of our operating businesses and provides greater transparency into our operating results.<\/p>\n<p>Adjusted net income is defined by us as net income before: (a) mark-to-market interest rate swap adjustments, whose fair value is subject to movements in LIBOR and the forward yield curve and therefore are subject to significant fluctuations; (b) former parent legacy items, which pertain to liabilities of the former parent for matters prior to mid-2006 and are non-operational in nature; (c) restructuring charges as a result of the business optimization initiatives currently in progress; (d) the loss on the early extinguishment of debt that results from refinancing and deleveraging debt initiatives; (e) the tax effect of the foregoing adjustments; and (f) the impact of the 2017 Tax Act and adjustments to reserves for uncertain tax positions.&nbsp; The gross amounts for these items as well as the adjustment for income taxes are shown in the table below.&nbsp; <\/p>\n<p>Adjusted earnings per share is Adjusted net income divided by the weighted average common and common equivalent shares outstanding.<\/p>\n<p>Set forth in the table below is&nbsp;a reconciliation of Net income to Adjusted net income for the three-month periods and years ended December&nbsp;31, 2017, 2016 and 2015:<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"11\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Three Months Ended December 31,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"11\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Year Ended December 31,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2015<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2015<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Net income attributable to Realogy Holdings<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">255<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">57<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">431<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">213<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">184<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Addback:<\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Mark-to-market interest rate swap (gains) losses<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(8)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(34)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(7)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(4)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">20<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Former parent legacy benefit, net<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(10)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(15)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Restructuring costs<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">39<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Loss on the early extinguishment of debt<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">48<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">48<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Adjustments for tax effect (a)<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(20)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(17)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(25)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Impact of 2017 Tax Act and a reduction in the reserve for uncertain tax positions (b)<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(216)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(216)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Adjusted net income attributable to Realogy Holdings<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">35<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">37<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">38<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">217<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">237<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">221<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Earnings per share<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Basic earnings per share:<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.91<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.40<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.06<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3.15<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.47<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.26<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Diluted earnings per share:<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.89<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.40<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.06<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3.11<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.46<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.24<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Adjusted earnings per share<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Adjusted basic earnings per share:<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.26<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.26<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.26<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.59<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.64<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.51<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Adjusted diluted earnings per share:<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.26<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.26<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.26<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.57<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.63<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.49<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"24\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Weighted average common and common equivalent shares outstanding:<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Basic:<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">133.4<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">141.9<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">146.7<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">136.7<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">144.5<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">146.5<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Diluted:<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">135.2<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">143.2<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">148.2<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">138.4<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">145.8<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">148.1<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<div>\n<table id=\"convertedTablef6d6\" cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prnsbts prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Reflects tax effect of adjustments at the Company&#8217;s blended state and federal statutory rate.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(b)&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">The three months ended and year ended December 31, 2017, reflect the $184 million income tax rate change on the Company&#8217;s net deferred tax liability as a result of the 2017 Tax Act resulting in a smaller net liability and a $32 million change in the reserve for uncertain tax positions.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><\/p>\n<p>&nbsp;<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Table 2<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen20\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>REALOGY HOLDINGS CORP.<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>CONSOLIDATED BALANCE SHEETS<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(In millions, except share data)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen21\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen21\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td rowspan=\"2\" colspan=\"3\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December 31,<br \/>&nbsp;2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td rowspan=\"2\" colspan=\"3\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December 31,<br \/>&nbsp;2016<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen23\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>ASSETS<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Current assets:<\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Cash and cash equivalents<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">227<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">274<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Restricted cash<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Trade receivables (net of allowance for doubtful accounts of $11 and $13)<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">153<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">152<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Relocation receivables<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">223<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">244<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Other current assets<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">179<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">141<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Total current assets<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">789<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">818<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Property and equipment, net<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">289<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">267<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Goodwill<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,710<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,690<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Trademarks<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">749<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">748<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Franchise agreements, net<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,294<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,361<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Other intangibles, net<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">284<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">313<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Other non-current assets<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">222<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">224<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Total assets<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,337<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,421<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>LIABILITIES AND EQUITY<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Current liabilities:<\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Accounts payable<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">156<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">140<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Securitization obligations<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">194<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">205<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Current portion of long-term debt<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">127<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">242<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Accrued expenses and other current liabilities<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">478<\/span><\/p>\n<\/td>\n<td class=\"prngen26\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">463<\/span><\/p>\n<\/td>\n<td class=\"prngen26\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Total current liabilities<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">955<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,050<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Long-term debt<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,221<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,265<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Deferred income taxes<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">327<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">389<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Other non-current liabilities<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">212<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">248<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Total liabilities<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,715<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,952<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Commitments and contingencies<\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Equity:<\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Realogy Holdings preferred stock: $.01 par value; 50,000,000 shares authorized, <br \/>&nbsp; none issued and outstanding at December 31, 2017 and December 31, 2016<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Realogy Holdings common stock: $.01 par value; 400,000,000 shares authorized, <br \/>&nbsp; 131,636,870&nbsp;shares issued and outstanding at December 31, 2017 and <br \/>&nbsp; 140,227,692 shares issued and outstanding at December 31, 2016<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Additional paid-in capital<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,285<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,565<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Accumulated deficit<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2,631)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3,062)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Accumulated other comprehensive loss<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(37)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(40)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Total stockholders&#8217; equity<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,618<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,464<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Noncontrolling interests<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Total equity<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,622<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,469<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Total liabilities and equity<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,337<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,421<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Table 3a<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"16\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen27\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"22\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>REALOGY HOLDINGS CORP.<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017 KEY DRIVERS<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"16\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen27\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"16\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Quarter Ended<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen5\"><\/td>\n<td colspan=\"3\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Year Ended<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\"><\/td>\n<td class=\"prngen5\"><\/td>\n<td colspan=\"3\" class=\"prngen28\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>March 31,<br \/>&nbsp;2017<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen29\"><\/td>\n<td colspan=\"3\" class=\"prngen28\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>June 30,<br \/>&nbsp;2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen29\"><\/td>\n<td colspan=\"3\" class=\"prngen28\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>September 30,<br \/>&nbsp;2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen29\"><\/td>\n<td colspan=\"3\" class=\"prngen28\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December 31,<br \/>&nbsp;2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen5\"><\/td>\n<td colspan=\"3\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December 31,<br \/>&nbsp;2017<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RFG (a)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen5\"><\/td>\n<td colspan=\"3\" class=\"prngen5\"><\/td>\n<td colspan=\"2\" class=\"prngen5\"><\/td>\n<td colspan=\"3\" class=\"prngen5\"><\/td>\n<td class=\"prngen5\"><\/td>\n<td colspan=\"3\" class=\"prngen5\"><\/td>\n<td class=\"prngen5\"><\/td>\n<td colspan=\"3\" class=\"prngen5\"><\/td>\n<td class=\"prngen5\"><\/td>\n<td colspan=\"3\" class=\"prngen5\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Closed homesale sides<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">225,250<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">322,745<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">318,961<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">277,261<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,144,217<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Average homesale price<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">275,828<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">291,355<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">292,000<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">293,216<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">288,929<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Average homesale broker commission rate<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.50<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.50<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.49<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.49<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.50<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net royalty per side (b)<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">298<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">316<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">316<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">316<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">313<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>NRT<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Closed homesale sides<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">66,570<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">101,043<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">95,236<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">81,597<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">344,446<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Average homesale price<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">509,197<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">528,518<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">506,418<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">511,683<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">514,685<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Average homesale broker commission rate<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.45<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.44<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.45<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.44<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.44<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Gross commission income per side<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13,261<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13,625<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13,142<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13,152<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13,309<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Cartus<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Initiations<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">36,515<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">50,798<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">39,608<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">34,834<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">161,755<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Referrals<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">15,203<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">25,284<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">23,905<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">19,286<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">83,678<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>TRG<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Purchase title and closing units (c)<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">31,297<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">47,008<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">43,764<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">37,044<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">159,113<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Refinance title and closing units (d)<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8,533<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6,324<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6,513<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,194<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">28,564<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Average fee per closing unit<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,001<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,139<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,115<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,092<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,092<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<div>\n<table id=\"convertedTablea72e\" cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Includes all franchisees except for NRT.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net royalty per side amounts include the effect of volume incentives and non-standard incentives granted to franchisees.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">The amounts presented for the year ended December&nbsp;31, 2017 include 8,351 purchase units as a result of acquisitions.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">The amounts presented for the year ended December&nbsp;31, 2017 include 1,858 refinance units as a result of acquisitions.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><\/p>\n<p>&nbsp;<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Table 3b<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"15\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen27\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"21\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>REALOGY HOLDINGS CORP.<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016 KEY DRIVERS<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\"><\/td>\n<td class=\"prngen5\"><\/td>\n<td colspan=\"15\" class=\"prngen5\"><\/td>\n<td class=\"prngen5\"><\/td>\n<td colspan=\"3\" class=\"prnsbtb0 prnrbrb0 prnvab prnsbtb0 prntac prnpl6 prnsblb0 prnpr6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\"><\/td>\n<td class=\"prngen5\"><\/td>\n<td colspan=\"15\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Quarter Ended<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen5\"><\/td>\n<td colspan=\"3\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Year Ended<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\"><\/td>\n<td class=\"prngen5\"><\/td>\n<td colspan=\"3\" class=\"prngen28\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>March 31,<br \/>&nbsp;2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen29\"><\/td>\n<td colspan=\"3\" class=\"prngen28\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>June 30,<br \/>&nbsp;2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen29\"><\/td>\n<td colspan=\"3\" class=\"prngen28\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>September 30,<br \/>&nbsp;2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen29\"><\/td>\n<td colspan=\"3\" class=\"prngen28\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December 31,<br \/>&nbsp;2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen5\"><\/td>\n<td colspan=\"3\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December 31,<br \/>&nbsp;2016<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RFG (a)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Closed homesale sides<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">218,330<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">319,748<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">323,176<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">274,090<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,135,344<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Average homesale price<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">259,044<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">273,900<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">275,325<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">277,037<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">272,206<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Average homesale broker commission rate<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.51<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.51<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.50<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.49<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.50<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net royalty per side (b)<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">287<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">303<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">305<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">295<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">299<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"21\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>NRT<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Closed homesale sides<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">64,244<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">98,314<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">95,605<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">77,536<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">335,699<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Average homesale price<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">493,125<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">485,688<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">486,343<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">495,242<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">489,504<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Average homesale broker commission rate<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.46<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.49<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.46<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.44<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.46<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Gross commission income per side<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12,878<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12,732<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12,681<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12,760<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12,752<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Cartus<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Initiations<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">37,174<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">51,560<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">40,556<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">33,773<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">163,063<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Referrals<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">16,893<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">26,138<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">25,495<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">18,751<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">87,277<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>TRG<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Purchase title and closing units (c)<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">29,236<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">43,914<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">42,932<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">36,915<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">152,997<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Refinance title and closing units (d)<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9,703<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11,227<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">15,170<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">14,819<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">50,919<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Average fee per closing unit<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,848<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,919<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,824<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,907<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,875<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<div>\n<table id=\"convertedTable2db9\" cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Includes all franchisees except for NRT.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net royalty per side amounts include the effect of volume incentives and non-standard incentives granted to franchisees.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">The amounts presented for the year ended December&nbsp;31, 2016 include 18,930 purchase units as a result of acquisitions.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">The amounts presented for the year ended December&nbsp;31, 2016 include 4,469 refinance units as a result of acquisitions.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Table 4a<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"15\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"20\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>REALOGY HOLDINGS CORP.<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>SELECTED 2017 FINANCIAL DATA<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(In millions)<\/b> <\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"15\" class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen21\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"15\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Three Months Ended<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Year Ended<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen28\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>March 31,<br \/>&nbsp;2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen28\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>June 30,<br \/>&nbsp;2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen28\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>September 30,<br \/>&nbsp;2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen28\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December 31,<br \/>&nbsp;2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December 31,<br \/>&nbsp;2017<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Net revenues (a)<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Real Estate Franchise Services<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">170<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">237<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">224<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">199<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">830<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Company Owned Real Estate Brokerage Services<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">897<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,392<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,267<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,087<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,643<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Relocation Services<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">77<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">102<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">111<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">92<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">382<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Title and Settlement Services<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">120<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">157<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">154<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">139<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">570<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Corporate and Other<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(61)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(95)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(82)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(73)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(311)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Total Company<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,203<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,793<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,674<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,444<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6,114<\/span><\/p>\n<\/td>\n<td class=\"prngen14\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>EBITDA (b)<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Real Estate Franchise Services<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">102<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">166<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">159<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">132<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">559<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Company Owned Real Estate Brokerage Services<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(26)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">77<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">62<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">126<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Relocation Services<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">27<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">37<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">20<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">85<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Title and Settlement Services<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">26<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">21<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">58<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Corporate and Other<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(27)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(18)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(25)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(33)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(103)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Total Company<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">52<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">278<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">254<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">141<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">725<\/span><\/p>\n<\/td>\n<td class=\"prngen32\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Non-GAAP Reconciliation &#8211; EBITDA<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Total Company EBITDA<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">52<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">278<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">254<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">141<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">725<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Less: Depreciation and amortization (c)<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">50<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">49<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">51<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">51<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">201<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Interest expense, net<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">39<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">47<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">41<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">31<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">158<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Income tax (benefit) expense<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(9)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">73<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">67<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(196)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(65)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net income (loss) attributable to Realogy Holdings<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen33\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(28)<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">109<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">95<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">255<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">431<\/span><\/p>\n<\/td>\n<td class=\"prngen14\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<div>\n<table id=\"convertedTablecb40\" cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen34\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Transactions between segments are eliminated in consolidation.&nbsp; 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 $61 million, $95 million, $82 million and $73 million for the three months ended March 31, 2017, June 30, 2017, September 30, 2017 and December&nbsp;31, 2017, respectively.&nbsp; Such amounts are eliminated through the Corporate and Other line.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Revenues for the Relocation Services segment include $8 million, $12 million, $11 million and $9 million of intercompany referral commissions paid by the Company Owned Real Estate Brokerage Services segment during the three months ended March 31, 2017, June 30, 2017, September 30, 2017 and December&nbsp;31, 2017, respectively.&nbsp; Such amounts are recorded as contra-revenues by the Company Owned Real Estate Brokerage Services segment.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(b)&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Includes restructuring charges of $5 million, $2 million, $2 million and $3 million for the three months ended March 31, 2017, June 30, 2017, September 30, 2017 and December&nbsp;31, 2017, respectively.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Includes a net benefit of $11 million and a net cost of $1 million of former parent legacy items for the three months ended June 30, 2017 and September 30, 2017, respectively.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Includes $4 million and $1 million related to the loss on the early extinguishment of debt for the three months ended March 31, 2017 and September 30, 2017, respectively.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Includes an $8 million expense related to the settlement of the Strader legal matter for the three months ended June 30, 2017.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Includes an $8 million expense related to the transition of the Company&#8217;s CEO for the three months ended December 31, 2017.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">The year ended December&nbsp;31, 2017 includes restructuring charges of $12 million, an $8 million expense related to the settlement of the Strader legal matter, an $8 million expense related to the transition of the Company&#8217;s CEO and $5 million related to the losses on the early extinguishment of debt, partially offset by a net benefit of $10 million of former parent legacy items.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"16\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">The amounts broken down by business unit are as follows:<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"15\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Three Months Ended<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Year Ended<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>March 31,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>June 30,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>September 30,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December 31,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December 31,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen35\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen35\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen35\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen35\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen35\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Real Estate Franchise Services<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Company Owned Real Estate Brokerage Services<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Relocation Services<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Title and Settlement Services<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Corporate and Other<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Total Company<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen33\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1)<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">23<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<div>\n<table id=\"convertedTable9a62\" cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">In addition, the Company believes that 2017 EBITDA was also negatively impacted by an estimated $8 million due to natural disasters in the third and fourth quarters.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Depreciation and amortization includes $1 million and $2 million for the three months ended September 30, 2017 and December&nbsp;31, 2017, respectively, of amortization expense related to our mortgage origination joint venture Guaranteed Rate Affinity&#8217;s purchase accounting included in the &quot;Equity in earnings of unconsolidated entities&quot; line on the Consolidated Statement of Operations.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Table 4b<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"15\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"20\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>REALOGY HOLDINGS CORP.<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>SELECTED 2016 FINANCIAL DATA<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(In millions)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"15\" class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen21\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"15\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Three Months Ended<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Year Ended<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>March 31,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>June 30,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>September 30,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December 31,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December 31,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen35\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen35\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen35\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen35\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen35\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Net revenues (a)<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Real Estate Franchise Services<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">157<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">221<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">215<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">188<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">781<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Company Owned Real Estate Brokerage Services<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">841<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,268<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,231<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,004<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,344<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Relocation Services<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">83<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">109<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">116<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">97<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">405<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Title and Settlement Services<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">111<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">149<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">164<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">149<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">573<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Corporate and Other<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(58)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(85)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(82)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(68)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(293)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Total Company<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,134<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,662<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,644<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,370<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,810<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>EBITDA (b)<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Real Estate Franchise Services<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">92<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">149<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">153<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">122<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">516<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Company Owned Real Estate Brokerage Services<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(21)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">78<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">74<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">137<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Relocation Services<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">29<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">40<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">22<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">96<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Title and Settlement Services<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">26<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">23<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">62<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Corporate and Other<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(21)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(19)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(20)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(18)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(78)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Total Company<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">55<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">263<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">270<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">145<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">733<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Non-GAAP Reconciliation &#8211; EBITDA<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Total Company EBITDA<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">55<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">263<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">270<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">145<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">733<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Less: Depreciation and amortization<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">48<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">48<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">53<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">53<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">202<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Interest expense, net<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">73<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">59<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">37<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">174<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Income tax expense (benefit)<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(24)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">64<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">74<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">30<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">144<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net income (loss) attributable to Realogy Holdings<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen33\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(42)<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">92<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">106<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">57<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">213<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<div>\n<table id=\"convertedTable5518\" cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen34\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(a)&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Transactions between segments are eliminated in consolidation.&nbsp; 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 $58 million, $85 million, $82 million and $68 million for the three months ended March 31, 2016, June 30, 2016, September 30, 2016 and December&nbsp;31, 2016, respectively.&nbsp; Such amounts are eliminated through the Corporate and Other line.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Revenues for the Relocation Services segment include $8 million, $13 million, $12 million and $10 million of intercompany referral commissions paid by the Company Owned Real Estate Brokerage Services segment during the three months ended March 31, 2016, June 30, 2016, September 30, 2016 and December&nbsp;31, 2016, respectively.&nbsp; Such amounts are recorded as contra-revenues by the Company Owned Real Estate Brokerage Services segment.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(b)&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Includes a net cost of $1 million and a net benefit of $3 million of former parent legacy items for the three months ended March 31, 2016 and December 31, 2016, respectively.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Includes $9 million, $12 million, $9 million and $9 million of restructuring charges for the three months ended March 31, 2016, June 30, 2016, September 30, 2016 and December&nbsp;31, 2016, respectively.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\"><\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">The year ended December&nbsp;31, 2016 includes restructuring charges of $39 million, partially offset by a net benefit of $2 million of former parent legacy items.&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"16\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">The amounts broken down by business unit are as follows:<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"15\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Three Months Ended<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Year Ended<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>March 31,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>June 30,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>September 30,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen29\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December 31,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December 31,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen35\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen35\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen35\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen35\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen35\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Real Estate Franchise Services<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Company Owned Real Estate Brokerage Services<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">22<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Relocation Services<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Title and Settlement Services<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Corporate and Other<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Total Company<\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">37<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Table 5<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"7\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>REALOGY HOLDINGS CORP.<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>NON-GAAP RECONCILIATION &#8211; EBITDA AND OPERATING EBITDA<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>FOR THE YEARS ENDED DECEMBER&nbsp;31, 2017 AND 2016 <\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(In millions)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"7\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Set forth in the table below is&nbsp;a reconciliation of net income to EBITDA and Operating EBITDA <br \/>for the years ended December&nbsp;31, 2017 and 2016:<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"7\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"7\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Year Ended<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen36\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December 31, 2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td colspan=\"3\" class=\"prngen36\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December 31, 2016<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net income attributable to Realogy<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">431<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">213<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Income tax (benefit) expense<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(65)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">144<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Income before income taxes<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">366<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">357<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Interest expense, net<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">158<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">174<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Depreciation and amortization (a)<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">201<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">202<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><i>EBITDA<\/i><\/b><\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">725<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">733<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">EBITDA adjustments:<\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Restructuring costs<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">39<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Former parent legacy benefit, net<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(10)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Loss on the early extinguishment of debt<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><i>Operating EBITDA<\/i><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">732<\/span><\/p>\n<\/td>\n<td class=\"prngen14\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">770<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<div>\n<table id=\"convertedTable1da4\" cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Depreciation and amortization for the year ended December&nbsp;31, 2017 includes $3 million of amortization expense related to Guaranteed Rate Affinity&#8217;s purchase accounting included in the &quot;Equity in earnings of unconsolidated entities&quot; line on the Consolidated Statement of Operations.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"39\" class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Set forth in the table below is&nbsp;a reconciliation of Operating EBITDA by reportable segments to the net income for the years ended December&nbsp;31, 2017 and 2016:<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"7\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Revenues (a)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td rowspan=\"2\" colspan=\"3\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Change<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td rowspan=\"2\" colspan=\"2\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>%<br \/>Change<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"7\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Operating <br \/>EBITDA (b)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td rowspan=\"2\" colspan=\"3\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Change<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td rowspan=\"2\" colspan=\"2\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>% Change<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"5\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Operating <br \/>EBITDA Margin<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td rowspan=\"2\" colspan=\"2\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Change<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td colspan=\"3\" class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen23\"><\/td>\n<td class=\"prngen23\"><\/td>\n<td colspan=\"3\" class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td colspan=\"3\" class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen23\"><\/td>\n<td class=\"prngen23\"><\/td>\n<td colspan=\"2\" class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td colspan=\"2\" class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">RFG<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">830<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">781<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">49<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6<\/span><\/p>\n<\/td>\n<td class=\"prngen37\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">560<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">520<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">40<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen38\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8<\/span><\/p>\n<\/td>\n<td class=\"prngen37\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">67<\/span><\/p>\n<\/td>\n<td class=\"prngen37\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">67<\/span><\/p>\n<\/td>\n<td class=\"prngen37\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">NRT<\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,643<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,344<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">299<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">135<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">159<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(24)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(15)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Cartus<\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">382<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">405<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(23)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(6)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">85<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">100<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(15)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(15)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">22<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">25<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">TRG<\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">570<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">573<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">59<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">63<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(4)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(6)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Corporate and Other<\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(311)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(293)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(18)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">*<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(107)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(72)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(35)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">*<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Total Company<\/span><\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6,114<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,810<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">304<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen39\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen40\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">732<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">770<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen39\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(38)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(5)<\/span><\/p>\n<\/td>\n<td class=\"prngen41\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12<\/span><\/p>\n<\/td>\n<td class=\"prngen41\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13<\/span><\/p>\n<\/td>\n<td class=\"prngen41\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen39\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Less: Restructuring costs<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">39<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"15\" class=\"prngen10\">\n<p class=\"prnml6\"><span class=\"prnews_span\">Former parent legacy benefit, net<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(10)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"15\" class=\"prngen10\">\n<p class=\"prnml6\"><span class=\"prnews_span\">Loss on the early extinguishment of debt<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"15\" class=\"prngen10\">\n<p class=\"prnml6\"><span class=\"prnews_span\">Depreciation and amortization (c)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">201<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">202<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"15\" class=\"prngen10\">\n<p class=\"prnml6\"><span class=\"prnews_span\">Interest expense, net<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">158<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">174<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"15\" class=\"prngen10\">\n<p class=\"prnml6\"><span class=\"prnews_span\">Income tax (benefit) expense<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(65)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">144<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"15\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net income attributable to Realogy Holdings<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">431<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">213<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen20\"><\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen20\"><\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<div>\n<table id=\"convertedTable46d3\" cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">not meaningful.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Includes the elimination of transactions between segments, which consists of intercompany royalties and marketing fees paid by NRT of $311 million and $293 million during the years ended December&nbsp;31, 2017 and 2016, respectively.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(b)&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Operating EBITDA for Corporate and Other includes an $8 million expense related to the settlement of the Strader legal matter and an $8 million expense related to the transition of the Company&#8217;s CEO during the year ended December&nbsp;31, 2017.&nbsp; In addition, the Company believes that 2017 Operating EBITDA was also negatively impacted by an estimated $8 million due to natural disasters in the third and fourth quarters.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Depreciation and amortization for the year ended December&nbsp;31, 2017 includes $3 million of amortization expense related to Guaranteed Rate Affinity&#8217;s purchase accounting included in the &quot;Equity in earnings of unconsolidated entities&quot; line on the Consolidated Statement of Operations.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><\/p>\n<p>&nbsp;<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Table 6<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"7\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>REALOGY HOLDINGS CORP.<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>NON-GAAP RECONCILIATION &#8211; EBITDA AND OPERATING EBITDA<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>THREE MONTHS ENDED DECEMBER&nbsp;31, 2017 AND 2016 <\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(In millions)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"7\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Set forth in the table below is&nbsp;a reconciliation of net income to EBITDA and <br \/>Operating EBITDA for the three-month periods ended December&nbsp;31, 2017 and 2016:<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"7\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"7\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Three Months Ended<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen28\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December 31, 2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen28\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December 31, 2016<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net income attributable to Realogy<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">255<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">57<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Income tax (benefit) expense<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(196)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">30<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Income before income taxes<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">59<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">87<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Interest expense, net<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">31<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Depreciation and amortization (a)<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">51<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">53<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><i>EBITDA<\/i><\/b><\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">141<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">145<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">EBITDA adjustments:<\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Restructuring costs<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Former parent legacy benefit, net<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><i>Operating EBITDA<\/i><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">144<\/span><\/p>\n<\/td>\n<td class=\"prngen14\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">151<\/span><\/p>\n<\/td>\n<td class=\"prngen14\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<div>\n<table id=\"convertedTable3b27\" cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Depreciation and amortization for the three months ended December&nbsp;31, 2017 includes $2 million of amortization expense related to Guaranteed Rate Affinity&#8217;s purchase accounting included in the &quot;Equity in earnings of unconsolidated entities&quot; line on the Consolidated Statement of Operations.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"39\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Set forth in the table below is&nbsp;a reconciliation of Operating EBITDA by reportable segments to the net income for the three months ended December&nbsp;31, 2017 and 2016:<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"7\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Revenues (a)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td rowspan=\"2\" colspan=\"3\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Change<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td rowspan=\"2\" colspan=\"2\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>%<br \/>Change<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"7\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Operating <br \/>EBITDA (b)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td rowspan=\"2\" colspan=\"3\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Change<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td rowspan=\"2\" colspan=\"2\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>% Change<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"5\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Operating <br \/>EBITDA Margin<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td rowspan=\"2\" colspan=\"2\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Change<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen42\"><\/td>\n<td class=\"prngen42\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen42\"><\/td>\n<td class=\"prngen42\"><\/td>\n<td colspan=\"2\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"2\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">RFG<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">199<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">188<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6<\/span><\/p>\n<\/td>\n<td class=\"prngen37\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">132<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">122<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen38\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8<\/span><\/p>\n<\/td>\n<td class=\"prngen37\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">66<\/span><\/p>\n<\/td>\n<td class=\"prngen37\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">65<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">NRT<\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,087<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,004<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">83<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">14<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Cartus<\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">92<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">97<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(5)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(5)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">20<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">22<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(9)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">22<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">23<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">TRG<\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">139<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">149<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(10)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(7)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(23)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Corporate and Other<\/span><\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(73)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(68)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(5)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">*<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(32)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(19)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(13)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">*<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Total Company<\/span><\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,444<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,370<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">74<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen39\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen40\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">144<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">151<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen39\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(7)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(5)<\/span><\/p>\n<\/td>\n<td class=\"prngen41\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10<\/span><\/p>\n<\/td>\n<td class=\"prngen41\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11<\/span><\/p>\n<\/td>\n<td class=\"prngen41\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen39\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"15\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Less: Restructuring costs<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"15\" class=\"prngen10\">\n<p class=\"prnml6\"><span class=\"prnews_span\">Former parent legacy benefit, net<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"15\" class=\"prngen10\">\n<p class=\"prnml6\"><span class=\"prnews_span\">Depreciation and amortization (c)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">51<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">53<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"15\" class=\"prngen10\">\n<p class=\"prnml6\"><span class=\"prnews_span\">Interest expense, net<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">31<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"15\" class=\"prngen10\">\n<p class=\"prnml6\"><span class=\"prnews_span\">Income tax (benefit) expense<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(196)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">30<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"15\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net income attributable to Realogy Holdings<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">255<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">57<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen20\"><\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen20\"><\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<div>\n<table id=\"convertedTableaf14\" cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen30\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">not meaningful.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Includes the elimination of transactions between segments, which consists of intercompany royalties and marketing fees paid by NRT of $73 million and $68 million during the three month ended December&nbsp;31, 2017 and 2016, respectively.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(b)&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Operating EBITDA for Corporate and Other includes an $8 million expense related to the transition of the Company&#8217;s CEO in the fourth quarter of 2017.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Depreciation and amortization for the three months ended December&nbsp;31, 2017 includes $2 million of amortization expense related to Guaranteed Rate Affinity&#8217;s purchase accounting included in the &quot;Equity in earnings of unconsolidated entities&quot; line on the Consolidated Statement of Operations.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><\/p>\n<p>&nbsp;<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Table 7<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"7\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>REALOGY HOLDINGS CORP.<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>NON-GAAP RECONCILIATION &#8211; FREE CASH FLOW<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>FOR THE YEAR ENDED DECEMBER&nbsp;31, 2017 AND 2016 <\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(In millions)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"7\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">A reconciliation of net income attributable to Realogy Holdings to Free Cash Flow is set forth in the following table:<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"7\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"7\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Year Ended December 31,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Net income attributable to Realogy Holdings<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">431<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">213<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Income tax (benefit) expense, net of payments<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(77)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">120<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Interest expense, net<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">158<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">174<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Cash interest payments<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(172)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(181)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Depreciation and amortization<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">198<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">202<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Capital expenditures<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(99)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(87)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Restructuring costs and former parent legacy items, net of payments<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(19)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Loss on the early extinguishment of debt<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&mdash;<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Working capital adjustments<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">122<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">19<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Relocation receivables (assets), net of securitization obligations<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(9)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Free Cash Flow<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">559<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">456<\/span><\/p>\n<\/td>\n<td class=\"prngen13\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen20\"><\/td>\n<td class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">A reconciliation of net cash provided by operating activities to Free Cash Flow is set forth in the following table:<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" class=\"prnsbt1 prnsbr1 prnvab prnsbb1 prnpl6 prnsbl1 prnpr8\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"7\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Year Ended December 31,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2017<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\"><\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2016<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Net cash provided by operating activities<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">667<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">586<\/span><\/p>\n<\/td>\n<td class=\"prngen16\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Property and equipment additions<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(99)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(87)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net change in securitization<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(11)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(40)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Effect of exchange rates on cash and cash equivalents<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Free Cash Flow<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">559<\/span><\/p>\n<\/td>\n<td class=\"prngen14\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">456<\/span><\/p>\n<\/td>\n<td class=\"prngen14\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Net cash used in investing activities<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(146)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(191)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Net cash used in financing activities<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(570)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(534)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<p><b>Table 8<\/b><\/p>\n<p class=\"prntac\"><b>NON-GAAP RECONCILIATION &#8211; SENIOR SECURED LEVERAGE RATIO<br \/><\/b><b>FOR THE YEAR ENDED DECEMBER&nbsp;31, 2017<br \/><\/b><b>(In millions)<\/b><\/p>\n<p>The senior secured leverage ratio is tested quarterly and may not exceed 4.75 to 1.00.&nbsp; The senior secured leverage ratio is measured by dividing Realogy Group LLC&#8217;s total senior secured net debt by the trailing twelve-month EBITDA calculated on a Pro Forma Basis, as those terms are defined in the senior secured credit facilities*.&nbsp; Total senior secured net debt does not include unsecured indebtedness, including the Unsecured Notes*, or the securitization obligations.&nbsp; EBITDA calculated on a Pro Forma Basis, as defined in the senior secured credit facilities, includes adjustments to EBITDA for restructuring costs, former parent legacy cost (benefit) items, net, loss on the early extinguishment of debt, non-cash charges and incremental securitization interest costs, as well as pro forma cost savings for restructuring initiatives, the pro forma effect of business optimization initiatives and the pro forma effect of acquisitions and new franchisees, in each case calculated as of the beginning of the twelve-month period.&nbsp; The Company was in compliance with the senior secured leverage ratio covenant at December&nbsp;31, 2017 with a ratio of 2.19 to 1.00.<\/p>\n<p>A reconciliation of net income attributable to Realogy Group to EBITDA, Operating EBITDA and EBITDA as defined by the senior secured credit facilities for the year ended December&nbsp;31, 2017 are set forth in the following table: <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prnsbt1 prnsbr1 prnvab prnsbbs prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>For the Year Ended <br \/>December 31, 2017<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net income attributable to Realogy Group<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">431<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Income tax benefit<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(65)<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Income before income taxes<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">366<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Interest expense, net<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">158<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Depreciation and amortization (a)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">201<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><i>EBITDA<\/i><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">725<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">EBITDA adjustments:<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Restructuring costs<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Former parent legacy benefit, net<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(10)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Loss on the early extinguishment of debt<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><i>Operating EBITDA<\/i><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">732<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Bank covenant adjustments:<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"3\" class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Pro forma effect of business optimization initiatives (b)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">21<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Non-cash charges (c)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">40<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Pro forma effect of acquisitions and new franchisees (d)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Incremental securitization interest costs (e)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><i>EBITDA as defined by the Senior Secured Credit Facilities<\/i><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">804<\/span><\/p>\n<\/td>\n<td class=\"prngen11\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Total senior secured net debt (f)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,764<\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b><i>Senior secured leverage ratio<\/i><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\"><\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2.19<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>x<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<div>\n<table id=\"convertedTableb00f\" cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prnsbts prngen34\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(a)<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Depreciation and amortization for the year ended December&nbsp;31, 2017 includes $3 million of amortization expense related to Guaranteed Rate Affinity&#8217;s purchase accounting included in the &quot;Equity in earnings of unconsolidated entities&quot; line on the Consolidated Statement of Operations.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(b)&nbsp;&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Represents the twelve-month pro forma effect of business optimization initiatives.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(c)&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Represents the elimination of non-cash expenses, including $52 million of stock-based compensation expense less $11 million for the change in the allowance for doubtful accounts and notes reserves and $1 million of foreign exchange benefits for the twelve months ended December&nbsp;31, 2017.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(d)<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Represents the estimated impact of acquisitions and franchise sales activity, net of brokerages that exited our franchise system as if these changes had occurred on January&nbsp;1, 2017.&nbsp; Franchisee sales activity is comprised of new franchise agreements as well as growth through acquisitions and independent sales agent recruitment by existing franchisees with our assistance.&nbsp; We have made a number of assumptions in calculating such estimates and there can be no assurance that we would have generated the projected levels of EBITDA had we owned the acquired entities or entered into the franchise contracts as of January&nbsp;1, 2017.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(e)<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Incremental borrowing costs incurred as a result of the securitization facilities refinancing for the twelve months ended December&nbsp;31, 2017.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(f)&nbsp; <\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Represents total borrowings under the senior secured credit facilities and borrowings secured by a first priority lien on our assets of $1,886 million plus $29 million of capital lease obligations less $151 million of readily available cash as of December&nbsp;31, 2017.&nbsp; Pursuant to the terms of our senior secured credit facilities, total senior secured net debt does not include our securitization obligations or unsecured indebtedness, including the Unsecured Notes.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">*&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Our senior secured credit facilities include the Amended and Restated Credit Agreement dated as of March 5, 2013, as amended, and the Term Loan A Agreement dated as of October 23, 2015, as amended, which was amended and restated in its entirety as of February 8, 2018.&nbsp; Our Unsecured Notes include our 4.50% Senior Notes due 2019, our 5.25% Senior Notes due 2021 and our 4.875% Senior Notes due 2023.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<p class=\"prntac\"><b>NON-GAAP RECONCILIATION &#8211; NET DEBT LEVERAGE RATIO<br \/><\/b><b>YEAR ENDED DECEMBER&nbsp;31, 2017<br \/><\/b><b>(In millions)<\/b><\/p>\n<p>Net corporate debt divided by EBITDA, as defined by the senior secured credit facilities, for the year ended December&nbsp;31, 2017 (referred to as net debt leverage ratio) is set forth in the following table:<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbb1 prntar prnpl8 prnsbl1 prnpr6\"><\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"3\" class=\"prnsbt1 prnsbr1 prnvab prnsbbs prntac prnpl8 prnsbl1 prnpr6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>As of December 31, <br \/>2017<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Revolver<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">70<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Term Loan A<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">391<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Term Loan A-1<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">342<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Term Loan B<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,083<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Senior Notes<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">450<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Senior Notes<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">550<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Senior Notes<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">500<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Total Debt (excluding securitizations)<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,386<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Less: Cash and Cash Equivalents<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">227<\/span><\/p>\n<\/td>\n<td class=\"prngen12\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net Corporate Debt<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,159<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">EBITDA as defined by the Senior Secured Credit Facility<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">804<\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Net Debt Leverage Ratio<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\"><\/td>\n<td colspan=\"2\" class=\"prngen39\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>3.9<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen36\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>x<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<p><b>Table 9<\/b><\/p>\n<p><b>Non-GAAP Definitions<\/b><\/p>\n<p>Adjusted net income (loss) is defined by us as net income (loss) before mark-to-market interest rate adjustments, former parent legacy items, restructuring charges, the loss on the early extinguishment of debt, the tax effect of the foregoing adjustments and the impact of the 2017 Tax Act and adjustments to the reserve for uncertain tax positions. &nbsp;The gross amounts for these items as well as the adjustment for income taxes are presented.&nbsp; Adjusted earnings (loss) per share is Adjusted net income (loss) divided by the weighted average common and common equivalent shares outstanding.&nbsp; We present Adjusted net income (loss) and Adjusted earnings (loss) per share because we believe these measures are useful as supplemental measures in evaluating the performance of our operating businesses and provides greater transparency into our operating results.<\/p>\n<p>EBITDA is defined by us as net income (loss) before depreciation and amortization, interest expense, net (other than relocation services interest for securitization assets and securitization obligations) and income taxes and is our primary non-GAAP measure.&nbsp; Operating EBITDA is defined by us as EBITDA before restructuring, loss on the early extinguishment of debt and former parent legacy items and is used as a supplementary financial measure.&nbsp; <\/p>\n<p>We present EBITDA and Operating EBITDA because we believe they are useful as supplemental measures in evaluating the performance of our operating businesses and provide greater transparency into our results of operations.&nbsp; Our management, including our chief operating decision maker, uses EBITDA as a factor in evaluating the performance of our business.&nbsp; EBITDA and Operating EBITDA should not be considered in isolation or as a substitute for net income or other statement of operations data prepared in accordance with GAAP. <\/p>\n<p>We believe EBITDA facilitates company-to-company operating performance comparisons by backing out potential differences caused by variations in capital structures (affecting net interest expense), taxation, the age and book depreciation of facilities (affecting relative depreciation expense) and the amortization of intangibles, which may vary for different companies for reasons unrelated to operating performance.&nbsp; We further believe that EBITDA is frequently used by securities analysts, investors and other interested parties in their evaluation of companies, many of which present an EBITDA measure when reporting their results. <\/p>\n<p>EBITDA and Operating EBITDA have limitations as analytical tools, and you should not consider EBITDA and Operating EBITDA either in isolation or as substitutes for analyzing our results as reported under GAAP.&nbsp; Some of these limitations are:<\/p>\n<ul type=\"disc\">\n<li>these measures do not reflect changes in, or cash required for, our working capital needs;\n<\/li>\n<li>these measures do not reflect our interest expense (except for interest related to our securitization obligations), or the cash requirements necessary to service interest or principal payments on our debt;\n<\/li>\n<li>these measures do not reflect our income tax expense or the cash requirements to pay our taxes;\n<\/li>\n<li>these measures do not reflect historical cash expenditures or future requirements for capital expenditures or contractual commitments;\n<\/li>\n<li>although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often require replacement in the future, and these measures do not reflect any cash requirements for such replacements; and\n<\/li>\n<li>other companies may calculate these measures differently so they may not be comparable. <\/li>\n<\/ul>\n<p>Free Cash Flow is defined as net income (loss) attributable to Realogy before income tax expense (benefit), net of payments, interest expense, net, cash interest payments, depreciation and amortization, capital expenditures, restructuring costs and former parent legacy costs (benefits), net of payments, loss on the early extinguishment of debt, working capital adjustments and relocation assets, net of change in securitization obligations.&nbsp; We use Free Cash Flow in our internal evaluation of operating effectiveness and decisions regarding the allocation of resources, as well as measuring the Company&#8217;s ability to generate cash.&nbsp; Since Free Cash Flow can be viewed as both a performance measure and a cash flow measure, the Company has provided a reconciliation to both net income attributable to Realogy Holdings and net cash provided by operating activities.&nbsp; Free Cash Flow is not defined by GAAP and should not be considered in isolation or as an alternative to net income (loss), net cash provided by (used in) operating, investing and financing activities or other financial data prepared in accordance with GAAP or as an indicator of the Company&#8217;s operating performance or liquidity.&nbsp; Free Cash Flow may differ from similarly titled measures presented by other companies.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\">\n<\/div>\n<p>SOURCE  Realogy Holdings Corp.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MADISON, N.J., Feb.&nbsp;27, 2018 \/PRNewswire\/ &#8212; Realogy Holdings Corp. (NYSE: RLGY), the largest full-service residential real estate services company in the United States, today reported financial results for the full year ended December&nbsp;31, 2017, including the following highlights: Revenue was $6.1 billion, an increase of 5% compared to 2016, driven by increases in homesale transaction [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wds_primary_category":0,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-11960","post","type-post","status-publish","format-standard","hentry","category-financial"],"_links":{"self":[{"href":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/wp-json\/wp\/v2\/posts\/11960","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/wp-json\/wp\/v2\/comments?post=11960"}],"version-history":[{"count":0,"href":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/wp-json\/wp\/v2\/posts\/11960\/revisions"}],"wp:attachment":[{"href":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/wp-json\/wp\/v2\/media?parent=11960"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/wp-json\/wp\/v2\/categories?post=11960"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/wp-json\/wp\/v2\/tags?post=11960"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}