Frontdoor (FTDR) 10-Q 29 Oct 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Oct. 22, 2021
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	Q3
Document Transition Report	false
Entity File Number	001-38617
Entity Registrant Name	Frontdoor, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-3871179
Entity Address, Address Line One	150 Peabody Place
Entity Address, City or Town	Memphis
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	38103
City Area Code	901
Local Phone Number	701-5000
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	FTDR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		84,682,503
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2021
Entity Central Index Key	0001727263

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Condensed Consolidated Statement of Operations and Comprehensive Income [Abstract]
Revenue	$ 471	$ 440	$ 1,263	$ 1,151
Cost of services rendered	217	225	619	572
Gross Profit	254	215	644	579
Selling and administrative expenses	138	129	392	358
Depreciation and amortization expense	8	7	27	25
Restructuring charges	0	0	2	4
Interest expense	7	14	32	43
Interest and net investment (income) loss	0	0	(1)	1
Loss on extinguishment of debt	0	0	31	0
Income before Income Taxes	101	65	161	148
Provision for income taxes	25	16	39	37
Net Income	76	49	122	111
Other Comprehensive Income (Loss), Net of Income Taxes:
Net unrealized gain (loss) on derivative instruments	2	1	10	(15)
Total Comprehensive Income	$ 79	$ 50	$ 131	$ 95
Earnings per Share:
Basic	$ 0.89	$ 0.57	$ 1.42	$ 1.30
Diluted	$ 0.89	$ 0.57	$ 1.42	$ 1.29
Weighted-average Common Shares Outstanding:
Basic	85.5	85.3	85.5	85.2
Diluted	85.9	85.6	85.9	85.5

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Financial Position - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 309	$ 597
Receivables, less allowance of $2 in each period	5	5
Contract asset	53	0
Prepaid expenses and other assets	18	24
Total Current Assets	385	626
Other Assets:
Property and equipment, net	64	60
Goodwill	512	512
Intangible assets, net	161	170
Operating lease right-of-use assets	19	15
Deferred customer acquisition costs	16	19
Other assets	4	3
Total Assets	1,161	1,405
Current Liabilities:
Accounts payable	76	55
Accrued liabilities:
Payroll and related expenses	23	23
Home service plan claims	99	90
Interest payable	0	9
Other	33	32
Deferred revenue	147	187
Current portion of long-term debt	17	7
Total Current Liabilities	394	403
Long-Term Debt	612	968
Other Long-Term Liabilities:
Deferred taxes	44	38
Operating lease liabilities	21	18
Other long-term obligations	29	40
Total Other Long-Term Liabilities	93	96
Commitments and Contingencies (Note 8)
Shareholders' Equity:
Common stock, $0.01 par value; 2,000,000,000 shares authorized; 85,768,848 shares issued and 85,221,181 shares outstanding at September 30, 2021 and 85,477,779 shares issued and outstanding at December 31, 2020	1	1
Additional paid-in capital	63	46
Retained earnings (accumulated deficit)	47	(75)
Accumulated other comprehensive loss	(24)	(33)
Less common stock held in treasury, at cost; 547,667 shares at September 30, 2021	(25)	0
Total Equity (Deficit)	62	(61)
Total Liabilities and Shareholders' Equity	$ 1,161	$ 1,405

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Financial Position (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Condensed Consolidated Statements of Financial Position [Abstract]
Allowance for receivables (in dollars)	$ 2	$ 2
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	85,768,848	85,477,779
Common stock, shares outstanding (in shares)	85,221,181	85,477,779
Treasury stock (in shares)	547,667

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Equity (Deficit) - USD ($) $ in Millions	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Loss [Member]	Common Stock Held In Treasury [Member]	Total
Balance at beginning of period at Dec. 31, 2019	$ 1	$ 29	$ (188)	$ (21)
Net income			111			$ 111
Issuance of common stock		1
Taxes paid related to net share settlement of equity awards		(2)
Stock-based employee compensation		13
Other comprehensive income (loss), net of tax				(15)		(15)
Balance at end of period at Sep. 30, 2020	1	41	(77)	(36)		(71)
Balance at beginning of period at Jun. 30, 2020	1	37	(126)	(37)
Net income			49			49
Stock-based employee compensation		4
Other comprehensive income (loss), net of tax				1
Balance at end of period at Sep. 30, 2020	1	41	(77)	(36)		(71)
Balance at beginning of period at Dec. 31, 2020	1	46	(75)	(33)		(61)
Net income			122			122
Exercise of stock options		2
Issuance of common stock		1
Taxes paid related to net share settlement of equity awards		(5)
Stock-based employee compensation		19
Repurchase of common stock					$ (25)	(25)
Other comprehensive income (loss), net of tax				10		10
Balance at end of period at Sep. 30, 2021	1	63	47	(24)	(25)	62
Balance at beginning of period at Jun. 30, 2021	1	57	(30)	(26)
Net income			76			76
Exercise of stock options		1
Stock-based employee compensation		5
Repurchase of common stock					(25)	(25)
Other comprehensive income (loss), net of tax				2
Balance at end of period at Sep. 30, 2021	$ 1	$ 63	$ 47	$ (24)	$ (25)	$ 62

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Condensed Consolidated Statements of Cash Flows [Abstract]
Cash and Cash Equivalents at Beginning of Period	$ 597	$ 428
Cash Flows from Operating Activities:
Net Income	122	111
Adjustments to reconcile net income to net cash provided from operating activities:
Depreciation and amortization expense	27	25
Deferred income tax provision	2	1
Stock-based compensation expense	19	13
Restructuring charges	2	4
Payments for restructuring charges	(1)	(3)
Loss on extinguishment of debt	31	0
Other	5	5
Change in working capital, net of acquisitions:
Receivables	0	1
Prepaid expenses and other current assets	(49)	(43)
Accounts payable	20	21
Deferred revenue	(41)	(9)
Accrued liabilities	6	32
Accrued interest payable	(9)	(6)
Current income taxes	7	3
Net Cash Provided from Operating Activities	142	154
Cash Flows from Investing Activities:
Purchases of property and equipment	(23)	(26)
Business acquisitions, net of cash received	0	(5)
Purchases of available-for-sale securities	0	(2)
Sales and maturities of available-for-sale securities	0	9
Net Cash Used for Investing Activities	(23)	(25)
Cash Flows from Financing Activities:
Borrowings of debt, net of discount	638	0
Payments of debt and finance lease obligations	(990)	(5)
Debt issuance costs paid	(8)	0
Call premium paid on retired debt	(21)	0
Other financing activities	(2)	(1)
Repurchase of common stock	(25)	0
Net Cash Used for Financing Activities	(407)	(6)
Cash (Decrease) Increase During the Period	(289)	123
Cash and Cash Equivalents at End of Period	$ 309	$ 551

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2021
Basis of Presentation [Abstract]
Basis of Presentation	Note 1. Basis of Presentation Frontdoor is the leading provider of home service plans in the United States, as measured by revenue, and operates under the American Home Shield, HSA, OneGuard and Landmark brands. Our customizable home service plans help customers protect and maintain their homes, typically their most valuable asset, from costly and unplanned breakdowns of essential home systems and appliances. Our home service plan customers subscribe to an annual service plan agreement that covers the repair or replacement of major components of more than 20 home systems and appliances, including electrical, plumbing, central HVAC systems, water heaters, refrigerators, dishwashers and ranges/ovens/cooktops, as well as optional coverages for electronics, pools, spas and pumps. Our operations also include our ProConnect on-demand home services business and Streem, a technology platform that uses augmented reality, computer vision and machine learning to, among other things, help home service professionals more quickly and accurately diagnose breakdowns and complete repairs. At September 30, 2021, we had over two million active home service plans across all 50 states and the District of Columbia. We recommend that the accompanying condensed consolidated financial statements be read in conjunction with the audited consolidated and combined financial statements and the notes thereto included in our 2020 Form 10-K. The accompanying condensed consolidated financial statements reflect all normal and recurring adjustments that are, in the opinion of management, necessary for the fair presentation of the financial position, results of operations and cash flows for the interim periods presented. The results of operations for any interim period are not indicative of the results that might be achieved for a full year. Impact of the COVID-19 Pandemic On March 11, 2020, the World Health Organization (“WHO”) characterized the novel coronavirus disease (“COVID-19”) as a pandemic, and on March 13, 2020, the United States declared a national emergency concerning the outbreak. The broader implications of the COVID-19 pandemic on our results of operations and overall financial performance remain uncertain. In response to the COVID-19 pandemic, we have taken a number of steps to protect the well-being of our employees, customers and contractors, and we continue to respond to the real-time needs of our business. The COVID-19 situation remains very fluid, and we continue to adjust our response in real time. During the first nine months of 2021, our financial condition and results of operations were adversely impacted by the COVID-19 pandemic as follows:  The tight existing home sales market continued to constrain demand for home service plans in the first-year real estate channel. Additionally, due to the annual nature of our home service plan agreements and the corresponding recognition of revenue over this annual period, real estate revenue for the first quarter of 2021 was adversely impacted by the decline in U.S. existing home sales that occurred in the second quarter of 2020.  We continued to experience an increase in appliance claims compared to pre-pandemic levels primarily due to increased usage of home systems and appliances driven by customers spending greater time at home in response to COVID-19. In addition, industry-wide parts availability challenges have caused increased cost pressure, and, more specifically, additional appliance replacements due to lack of parts availability, further contributing to the increased costs. These industry-wide supply chain challenges also impacted the customer experience, which was reflected in our customer retention rate.  We incurred incremental customer service wages due to a higher number of service requests in the appliance trade compared to pre-pandemic levels, which was primarily a result of customers spending greater time at home in response to COVID-19. Additionally, due to labor availability challenges, we continued to experience difficulties in hiring and retaining customer service personnel.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Significant Accounting Policies [Abstract]
Significant Accounting Policies	f Note 2. Significant Accounting Policies Our significant accounting policies are described in Note 2 to the audited consolidated and combined financial statements included in our 2020 Form 10-K. There have been no material changes to the significant accounting policies for the nine months ended September 30, 2021.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2021
Revenue [Abstract]
Revenue	Note 3. Revenue The majority of our revenue is generated from annual home service plan agreements entered into with our customers. Our home service plan agreements have one performance obligation, which is to provide for the repair or replacement of essential home systems and appliances, as applicable per the contract. We recognize revenue at the agreed upon contractual amount over time using the input method in proportion to the costs expected to be incurred in performing services under the contracts. Those costs bear a direct relationship to the fulfillment of our obligations under the contracts and are representative of the relative value provided to the customer. As the costs to fulfill the obligations of the home service plans are incurred on an other-than-straight-line basis, we utilize historical evidence to estimate the expected claims expense and related timing of such costs. This adjustment to the straight-line revenue creates a contract asset or contract liability, as described under the heading “Contract balances” below. We regularly review our estimates of claims costs and adjust our estimates when appropriate. We derive substantially all of our revenue from customers in the United States. We disaggregate revenue from contracts with customers into major customer acquisition channels. We determined that disaggregating revenue into these categories depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. Revenue by major customer acquisition channel is as follows: ___ Three Months Ended Nine Months Ended September 30, September 30, (In millions) 2021 2020 2021 2020 Renewals $ 328 $ 303 $ 867 $ 792 Real estate (1) 73 76 207 206 Direct-to-consumer (1) 59 56 157 143 Other 11 4 31 10 Total $ 471 $ 440 $ 1,263 $ 1,151 _____________________________ (1) First-year revenue only. Renewals Revenue from all customer renewals, whether initiated via the real estate or direct-to-consumer channel, are classified as renewals above. Customer payments for renewals are received either at the commencement of the renewal period or in installments over the contract period. Real estate Real estate home service plans are sold through annual contracts in connection with a real estate sale, and payments are typically paid in full at closing. First-year revenue from the real estate channel is classified as real estate above. Direct-to-consumer Direct-to-consumer home service plans are sold through annual contracts when customers request a service plan in response to marketing efforts or when third-party resellers make a sale. Customer payments are received either at the commencement of the contract or in installments over the contract period. First-year revenue from the direct-to-consumer channel is classified as direct-to-consumer above. Other Other revenue includes revenue generated by ProConnect and Streem, as well as administrative fees and ancillary services attributable to our home service plan agreements. Costs to obtain a contract with a customer We capitalize the incremental costs of obtaining a contract with a customer, primarily sales commissions, and recognize the expense using the input method in proportion to the costs expected to be incurred in performing services under the contract, over the expected customer relationship period. Deferred customer acquisition costs were $ 16 million and $ 19 million as of September 30, 2021 and December 31, 2020, respectively. Amortization of these deferred acquisition costs was $ 5 million and $ 6 million for the three months ended September 30, 2021 and 2020, respectively, and $ 15 million for each of the nine months ended September 30, 2021 and 2020. There were no impairment losses in relation to these capitalized costs. Contract balances Timing of revenue recognition may differ from the timing of invoicing to customers. Contracts with customers, including contracts resulting from customer renewals, are generally for a period of one year . We record a receivable related to revenue recognized on services once we have an unconditional right to invoice and receive payment in the future related to the services provided. All accounts receivable are recorded within Receivables, less allowances, in the accompanying condensed consolidated statements of financial position. We invoice our monthly-pay customers on a straight-line basis over the contract term. As a result, a contract asset is created when revenue is recognized on monthly-pay customers before being billed. As of September 30, 2021, a contract asset of $ 53 million was recorded related to the recognition of monthly-pay customer revenue on an other-than-straight-line basis to match the timing of cost recognition. Deferred revenue represents a contract liability and is recognized when cash payments are received in advance of the performance of services, including when the amounts are refundable. Amounts are recognized as revenue in proportion to the costs expected to be incurred in performing services under our contracts. Deferred revenue was $ 147 million and $ 187 million as of September 30, 2021 and December 31, 2020, respectively. Changes in deferred revenue for the nine months ended September 30, 2021 were as follows: (In millions) Deferred Revenue Balance as of December 31, 2020 $ 187 Deferral of revenue 267 Recognition of deferred revenue ( 308 ) Balance as of September 30, 2021 $ 147 There was approximately $ 41 million and $ 187 million of revenue recognized in the three and nine months ended September 30, 2021, respectively, that was included in the deferred revenue balance as of December 31, 2020. Deferred revenue decreased during the nine months ended September 30, 2021, reflecting a decline in the number of first-year real estate home service plans, a shift in the mix of annual-pay customers to monthly-pay customers and the recognition of previously deferred amounts on an other-than-straight-line basis to match the timing of cost recognition.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets [Abstract]
Goodwill and Intangible Assets	Note 4. Goodwill and Intangible Assets Goodwill and indefinite-lived intangible assets are not amortized and are subject to assessment for impairment on an annual basis or more frequently if circumstances indicate a potential impairment. An assessment for impairment is performed on October 1 of every year. The balance of goodwill was $ 512 million as of September 30, 2021 and December 31, 2020. There were no goodwill or trade name impairment charges recorded in the nine months ended September 30, 2021 and 2020. There were no accumulated impairment losses recorded as of September 30, 2021 and December 31, 2020. During the second quarter of 2020, we completed a business acquisition for $ 5 million, which was primarily allocated to developed technology and other intangible assets. There were no acquisitions during the nine months ended September 30, 2021. The table below summarizes the other intangible asset balances: As of September 30, 2021 As of December 31, 2020 (In millions) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Trade names (1) $ 141 $ — $ 141 $ 141 $ — $ 141 Customer relationships 173 ( 172 ) — 173 ( 171 ) 2 Developed technology 25 ( 11 ) 15 25 ( 6 ) 19 Other 37 ( 31 ) 6 37 ( 29 ) 8 Total $ 375 $ ( 214 ) $ 161 $ 375 $ ( 205 ) $ 170 _____________________________ (1) Not subject to amortization. Amortization expense was $ 2 million and $ 2 million for the three months ended September 30, 2021 and 2020, respectively, and $ 8 million and $ 9 million for the nine months ended September 30, 2021 and 2020, respectively. The following table outlines expected amortization expense for existing intangible assets for the remainder of 2021 and the next five years : (In millions) 2021 (remainder) $ 2 2022 8 2023 6 2024 4 2025 — 2026 — Total $ 21

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases	Note 5. Leases We have operating leases primarily for our corporate offices, customer service centers and engineering and technology campuses. Our leases have remaining lease terms of two years to 13 years, some of which include options to extend the leases for up to five years . Renewal options that are reasonably certain to be exercised are included in the lease term. An incremental borrowing rate is used in determining the present value of lease payments unless an implicit rate is readily determinable. Incremental borrowing rates are determined based on our secured borrowing rating and the lease term. The weighted-average remaining lease term and weighted-average discount rate related to operating leases is as follows: As of September 30, December 31, 2021 2020 Weighted-average remaining lease term (years) 9 9 Weighted-average discount rate 5.6 % 6.0 % We recognized operating lease expense of $ 1 million for each of the three months ended September 30, 2021 and 2020 and $ 3 million and $ 2 million for the nine months ended September 30, 2021 and 2020, respectively . These expenses are included in Selling and administrative expenses in the accompanying condensed consolidated statements of operations and comprehensive income. Supplemental cash flow information related to operating leases is as follows: Nine Months Ended September 30, (In millions) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities (1) $ 4 $ 4 Leased assets obtained in exchange for new lease liabilities 6 2 _____________________________ (1) For the nine months ended September 30, 2020, amounts include $ 2 million of lease termination costs related to the decision to consolidate certain operations of Landmark Home Warranty, LLC (“Landmark”) with those of OneGuard Home Warranties (“OneGuard”). See Note 7 to the accompanying condensed consolidated financial statements for further information. Supplemental balance sheet information related to operating leases is as follows: As of September 30, December 31, (In millions) 2021 2020 Operating lease right-of-use assets $ 24 $ 21 Less lease incentives ( 5 ) ( 6 ) Operating lease right-of-use assets, net $ 19 $ 15 Other accrued liabilities $ 4 $ 3 Operating lease liabilities 21 18 Total operating lease liabilities $ 24 $ 21 The following table presents maturities of our operating lease liabilities as of September 30, 2021. (In millions) 2021 (remainder) $ 1 2022 5 2023 5 2024 3 2025 2 2026 2 Thereafter 12 Total lease payments 32 Less imputed interest ( 7 ) Total $ 24

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Taxes [Abstract]
Income Taxes	Note 6. Income Taxes As required by ASC 740, we compute interim period income taxes by applying an anticipated annual effective tax rate to our year-to-date income or loss from operations before income taxes, except for significant unusual or infrequently occurring items. Our estimated tax rate is adjusted each quarter in accordance with ASC 740. The effective tax rate on income was 24.3 percent and 24.8 percent for the three months ended September 30, 2021 and 2020, respectively, and 24.4 percent and 25.1 percent for nine months ended September 30, 2021 and 2020, respectively . The decrease in the effective tax rate for the nine months ended September 30, 2021 compared to 2020 is primarily due to excess tax benefits for share-based awards and income tax credits, offset, in part, by an increase in state income taxes. We are subject to taxation in the United States, various states and foreign jurisdictions. Pursuant to the terms of the tax matters agreement entered into with Terminix in connection with the Spin-off, we are not subject to federal examination by the IRS or examination by state taxing authorities where a unitary or combined state income tax return is filed for the years prior to 2018. We are not subject to state and local income tax examinations by tax authorities in jurisdictions where separate income tax returns are filed for the years prior to 2016. Substantially all of our income before income taxes for the nine months ended September 30, 2021 and 2020 was generated in the United States. Our policy is to recognize potential interest and penalties related to our tax positions within the tax provision. Total interest and penalties included in the accompanying condensed consolidated statements of operations and comprehensive income are immaterial.

Restructuring Charges

Restructuring Charges	9 Months Ended
	Sep. 30, 2021
Restructuring Charges [Abstract]
Restructuring Charges	Note 7. Restructuring Charges We incurred restructuring charges of less than $ 1 million (less than $ 1 million, net of tax) for each of the three months ended September 30, 2021 and 2020 and $ 2 million ($ 1 million, net of tax) and $ 4 million ($ 3 million, net of tax) for the nine months ended September 30, 2021 and 2020, respectively. For the three months ended September 30, 2021, restructuring charges primarily comprised severance costs. For the three months ended September 30, 2020 restructuring charges primarily comprised accelerated depreciation of certain technology systems driven by efforts to enhance our technological capabilities. For the nine months ended September 30, 2021, restructuring charges comprised $ 1 million of accelerated depreciation of certain technology systems driven by efforts to enhance our technological capabilities and $ 1 million of severance and other costs. For the nine months ended September 30, 2020, restructuring charges comprised $ 2 million of lease termination costs and $ 1 million of severance and other costs related to the decision to consolidate the operations of Landmark with those of OneGuard, which was completed during the first quarter of 2020, as well as $ 1 million of accelerated depreciation of certain technology systems. The pre-tax charges discussed above are reported in “Restructuring charges” in the accompanying condensed consolidated statements of operations and comprehensive income. As of December 31, 2020, there were $ 1 million of restructuring charges accrued, which were paid or otherwise settled during the nine months ended September 30, 2021. As of September 30, 2021, there were no accrued restructuring charges in the accompanying condensed consolidated statements of financial position.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 8. Commitments and Contingencies Accruals for home service plan claims are made using internal actuarial projections, which are based on current claims and historical claims experience. Accruals are established based on estimates of the ultimate cost to settle claims. Home service plan claims take approximately three months to settle, on average, and substantially all claims are settled within six months of incurrence. The amount of time required to settle a claim can vary based on a number of factors, including whether a replacement is ultimately required. In addition to our estimates, we engage a third-party actuary to perform an accrual analysis utilizing generally accepted actuarial methods that incorporate cumulative historical claims experience and information provided by us. We regularly review our estimates of claims costs along with the third-party analysis and adjust our estimates when appropriate. We believe the use of actuarial methods to account for these liabilities provides a consistent and effective way to measure these judgmental accruals. We have certain liabilities with respect to existing or potential claims, lawsuits and other proceedings. We accrue for these liabilities when it is probable that future costs will be incurred and such costs can be reasonably estimated. Any resulting adjustments, which could be material, are recorded in the period the adjustments are identified. Due to the nature of our business activities, we are also at times subject to pending and threatened legal and regulatory actions that arise out of the ordinary course of business. In the opinion of management, based in part upon advice of legal counsel, the disposition of any such matters is not expected, individually or in the aggregate, to have a material adverse effect on our business, financial position, results of operations or cash flows. However, the results of legal actions cannot be predicted with certainty. Therefore, it is possible that our business, financial position, results of operations or cash flows could be materially adversely affected in any particular period by the unfavorable resolution of one or more legal actions.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2021
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Note 9. Stock-Based Compensation We recognized stock-based compensation expense of $ 5 million ($ 4 million, net of tax) and $ 4 million ($ 4 million, net of tax) for the three months ended September 30, 2021 and 2020, respectively, and $ 19 million ( 14 million, net of tax) and $ 13 million ($ 11 million, net of tax) for the nine months ended September 30, 2021 and 2020, respectively. These charges are included in Selling and administrative expenses in the accompanying condensed consolidated statements of operations and comprehensive income. A summary of awards granted under the Omnibus Plan during the nine months ended September 30, 2021 is presented below: Number of Weighted Avg. Weighted Avg. Weighted Avg. Awards Exercise Grant Date Vesting Granted Price Fair Value Period Stock options 271,735 $ 54.36 $ 27.78 4.00 Restricted stock units 434,820 54.25 3.00 Performance shares (1) 98,017 54.81 3.00 _____________________________ (1) The number of performance shares granted during the nine months ended September 30, 2021 represents the target value of the awards. The performance shares contain a performance condition that is based on our revenue target, and the ultimate number of performance shares to be earned depends on the achievement of this performance condition. As of September 30, 2021, there was $ 46 million of total unrecognized compensation cost, net of estimated forfeitures, related to unvested stock options, restricted stock units (“RSUs”), performance shares and restricted stock awards (“RSAs”). These remaining costs are expected to be recognized over a weighted-average period of 2.31 years.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2021
Long-Term Debt [Abstract]
Long-Term Debt	Note 10. Long-Term Debt Long-term debt is summarized in the following table: As of September 30, December 31, (In millions) 2021 2020 Term Loan A maturing in 2026 (1) $ 255 $ — Term Loan B maturing in 2028 (2) 374 — Amended Revolving Credit Facility maturing in 2026 — — Prior Term Loan Facility maturing in 2025 (3) — 629 Prior Revolving Credit Facility maturing in 2023 — — 2026 Notes (4) — 346 Less current portion ( 17 ) ( 7 ) Total long-term debt $ 612 $ 968 ___________________________________ (1) As of September 30, 2021, presented net of $ 2 million in unamortized debt issuance costs. (2) As of September 30, 2021, presented net of $ 4 million in unamortized debt issuance costs and $ 2 million in unamortized original issue discount. (3) As of December 31, 2020, presented net of $ 5 million in unamortized debt issuance costs and $ 1 million in unamortized original issue discount. (4) As of December 31, 2020, presented net of $ 4 million in unamortized debt issuance costs. Credit Facilities On February 17, 2021, we repaid $ 100 million of the outstanding principal amount of the Prior Term Loan Facility. In connection with the repayment, we recorded a loss on extinguishment of debt of $ 1 million, which included the write-off of debt issuance costs and original issue discount. On June 17, 2021, we entered into the Amended Credit Agreement, providing for the Term Loan A maturing June 17, 2026 , the Term Loan B maturing June 17, 2028 and the Amended Revolving Credit Facility, which terminates June 17, 2026 . The net proceeds of the transaction, together with cash on hand, were used to redeem the remaining outstanding principal amounts of $ 534 million of the Prior Term Loan Facility and $ 350 million of the 2026 Notes at a price of 106.1 %. In addition, the Amended Revolving Credit Facility replaced the Prior Revolving Credit Facility . In connection with the repayments, we recorded a loss on extinguishment of debt of $ 30 million in the second quarter of 2021, which included a “make-whole” redemption premium of $ 21 million on the 2026 Notes and the write-off of $ 9 million of debt issuance costs and original issue discount. The interest rates applicable to the Term Loan A and the Amended Revolving Credit Facility are based on a fluctuating rate of interest based on the Consolidated First Lien Leverage Ratio ( as defined in the Amended Credit Agreement ) and measured by reference to either, at our option, (i) an adjusted LIBOR plus a margin range of 1.50 % to 2.00 % per annum or (ii) an alternate base rate plus a margin range of 0.50 % to 1.00 % per annum. The interest rates applicable to the Term Loan B are based on a fluctuating rate of interest measured by reference to either, at our option, (i) an adjusted LIBOR plus a margin of 2.25 % per annum or (ii) an alternate base rate plus a margin of 1.25 % per annum. The obligations under the Amended Credit Agreement are guaranteed by certain subsidiaries (collectively, the “Guarantors”) and are secured by substantially all of the material tangible and intangible assets of Frontdoor and the Guarantors, subject to certain customary exceptions. The Amended Revolving Credit Facility provides for senior secured revolving loans and stand-by and other letters of credit. The Amended Revolving Credit Facility limits outstanding letters of credit to $ 250 million. As of September 30, 2021, there were $ 2 million of letters of credit outstanding and $ 248 million of available borrowing capacity under the Amended Revolving Credit Facility. The Amended Credit Agreement contains certain affirmative and negative covenants, including limitations on the incurrence of indebtedness, liens, ability to engage in certain fundamental transactions, make certain dispositions, make certain restricted payments and engage in transactions with affiliates. The Amended Credit Agreement also contains a financial covenant requiring the maintenance of a Consolidated First Lien Leverage Ratio, as defined in the Amended Credit Agreement, of not greater than 3.50 to 1.00 at the end of each fiscal quarter or, subject to certain limitations, 4.00 to 1.00 following material acquisitions . As of September 30, 2021, we were in compliance with the financial covenants under the Amended Credit Agreement that were in effect on such date. Scheduled Long-term Debt Payments As of September 30, 2021, future scheduled long - term debt payments are $ 4 million for the remainder of 2021, $ 17 million for each of the years ending December 31, 2022 through 2025 and $ 205 million for the year ending December 31, 2026.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2021
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Note 11. Supplemental Cash Flow Information Supplemental information relating to the accompanying condensed consolidated statements of cash flows is presented in the following table: Nine Months Ended September 30, (In millions) 2021 2020 Cash paid for (received from): Interest expense $ 39 $ 47 Income tax payments, net of refunds 29 33 Interest income ( 1 ) ( 2 )

Comprehensive Income (Loss)

Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2021
Comprehensive Income (Loss) [Abstract]
Comprehensive Income (Loss)	Note 12. Comprehensive Income (Loss) Comprehensive income (loss), which includes net income (loss) and unrealized gain (loss) on derivative instruments, is disclosed in the accompanying condensed consolidated statements of operations and comprehensive income and condensed consolidated statements of changes in equity. The following tables summarize the activity in AOCI, net of the related tax effects. Unrealized Loss (In millions) on Derivatives Total Balance as of December 31, 2020 $ ( 33 ) $ ( 33 ) Other comprehensive income (loss) before reclassifications: Pre-tax amount 5 5 Tax provision (benefit) 1 1 After-tax amount 4 4 Amounts reclassified from accumulated other comprehensive income (loss) (1) 6 6 Net current period other comprehensive income (loss) 10 10 Balance as of September 30, 2021 $ ( 24 ) $ ( 24 ) Balance as of December 31, 2019 $ ( 21 ) $ ( 21 ) Other comprehensive income (loss) before reclassifications: Pre-tax amount ( 26 ) ( 26 ) Tax provision (benefit) ( 6 ) ( 6 ) After-tax amount ( 20 ) ( 20 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) 5 5 Net current period other comprehensive income (loss) ( 15 ) ( 15 ) Balance as of September 30, 2020 $ ( 36 ) $ ( 36 ) ___________________________________ (1) Amounts are net of tax. See reclassifications out of AOCI below for further details. Reclassifications out of AOCI included the following components for the periods indicated. Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) Nine Months Ended September 30, Consolidated Statements of (In millions) 2021 2020 Operations and Comprehensive Income Location Loss on interest rate swap contract $ ( 8 ) $ ( 6 ) Interest expense Impact of income taxes 2 2 Provision for income taxes Total reclassifications related to derivatives $ ( 6 ) $ ( 5 ) Total reclassifications for the period $ ( 6 ) $ ( 5 )

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2021
Derivative Financial Instruments [Abstract]
Derivative Financial Instruments	Note 13. Derivative Financial Instruments We currently use a derivative financial instrument to manage risks associated with changes in interest rates. We do not hold or issue derivative financial instruments for trading or speculative purposes. In designating derivative financial instruments as hedging instruments under accounting standards for derivative instruments, we formally document the relationship between the hedging instrument and the hedged item, as well as the risk management objective and strategy for the use of the hedging instrument. This documentation includes linking the derivatives to forecasted transactions. We assess at the time a derivative contract is entered into, and at least quarterly thereafter, whether the derivative item is effective in offsetting the projected cash flows of the associated forecasted transaction. We hedge the interest payments on a portion of our variable rate debt through the use of an interest rate swap agreement. Our interest rate swap contract is classified as a cash flow hedge, and, as such, it is recorded in the accompanying condensed consolidated statements of financial position as either an asset or liability at fair value, with changes in fair value recorded in AOCI. Cash flows related to the interest rate swap contract are classified as operating activities in the accompanying condensed consolidated statements of cash flows. The effective portion of the gain or loss on our interest rate swap contract is recorded in AOCI. These amounts are reclassified into earnings in the same period or periods during which the hedged forecasted debt interest settlement affects earnings. See Note 12 to the accompanying condensed consolidated financial statements for the effective portion of the gain or loss on derivative instruments recorded in AOCI and for the amounts reclassified out of AOCI and into earnings. As the underlying forecasted transactions occur during the next 12 months, the unrealized hedging loss in AOCI expected to be recognized in earnings is $ 8 million, net of tax, as of September 30, 2021. The amounts that are ultimately reclassified into earnings will be based on actual interest rates at the time the positions are settled and may differ materially from the amount noted above.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 14. Fair Value Measurements We estimate fair value at a price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market for the asset or liability. The valuation techniques require inputs that the business categorizes using a three-level hierarchy, from highest to lowest level of observable inputs, as follows: unadjusted quoted prices for identical assets or liabilities in active markets ("Level 1"); direct or indirect observable inputs, including quoted prices or other market data, for similar assets or liabilities in active markets or identical assets or liabilities in less active markets ("Level 2"); and unobservable inputs that require significant judgment for which there is little or no market data ("Level 3"). When multiple input levels are required for a valuation, we categorize the entire fair value measurement according to the lowest level of input that is significant to the measurement, even though we may have also utilized significant inputs that are more readily observable. The period-end carrying amounts of cash and cash equivalents, receivables, accounts payable and accrued liabilities approximate fair value because of the short maturity of these instruments. The carrying amount of total debt was $ 629 million and $ 975 million, and the estimated fair value was $ 635 million and $ 1,004 million as of September 30, 2021 and December 31, 2020, respectively. The fair value of our debt is estimated based on available market prices for the same or similar instruments that are considered significant other observable inputs (Level 2) within the fair value hierarchy. The fair values presented reflect the amounts that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The fair value estimates presented in this report are based on information available to us as of September 30, 2021 and December 31, 2020. We value our interest rate swap contract using a forward interest rate curve obtained from a third-party market data provider. The fair value of the contract is the sum of the expected future settlements between the contract counterparties, discounted to present value. The expected future settlements are determined by comparing the contract interest rate to the expected forward interest rate as of each settlement date and applying the difference between the two rates to the notional amount of debt in the interest rate swap contract. We did not change our valuation techniques for measuring the fair value of any financial assets and liabilities during the nine months ended September 30, 2021. Transfers between levels, if any, are recognized at the end of the reporting period. There were no transfers between levels during the nine months ended September 30, 2021 and 2020. The carrying amount and estimated fair value of our financial instruments that are recorded at fair value on a recurring basis for the periods presented are as follows: Estimated Fair Value Measurements (In millions) Statement of Financial Position Location Carrying Value Quoted Prices In Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) As of September 30, 2021: Financial Liabilities: Interest rate swap contract Other accrued liabilities $ 10 $ — $ 10 $ — Other long-term obligations 20 — 20 — Total financial liabilities $ 31 $ — $ 31 $ — As of December 31, 2020: Financial Liabilities: Interest rate swap contract Other accrued liabilities $ 10 $ — $ 10 $ — Other long-term obligations 33 — 33 — Total financial liabilities $ 43 $ — $ 43 $ —

Share Repurchase Program

Share Repurchase Program	9 Months Ended
	Sep. 30, 2021
Share Repurchase Program [Abstract]
Share Repurchase Program	Note 15. Share Repurchase Program On September 7, 2021, we announced a three-year repurchase authorization of up to $ 400 million of outstanding shares of our common stock over the three-year period from September 3, 2021 through September 3, 2024. Purchases of outstanding shares are as follows: Three Months Ended Nine Months Ended September 30, September 30, (In millions, except per share data) 2021 2020 2021 2020 Number of shares purchased 0.5 $ — 0.5 $ — Average price paid per share (1) $ 46.11 $ — $ 46.11 — Cost of shares purchased $ 25 — $ 25 — ________________________________ (1) The average price paid per share is calculated on a trade date basis and excludes commissions.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Note 16. Earnings Per Share Basic earnings per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period, increased to include the number of shares of common stock that would have been outstanding had potential dilutive shares of common stock been issued. The dilutive effect of stock options, RSUs , performance shares and RSAs are reflected in diluted earnings per share by applying the treasury stock method. Basic and diluted earnings per share are calculated as follows: Three Months Ended Nine Months Ended September 30, September 30, (In millions, except per share data) 2021 2020 2021 2020 Net Income $ 76 $ 49 $ 122 $ 111 Weighted-average common shares outstanding 85.5 85.3 85.5 85.2 Effect of dilutive securities: RSUs (1) 0.2 0.2 0.2 0.2 Stock options (2) 0.2 0.1 0.2 0.1 Weighted-average common shares outstanding - assuming dilution 85.9 85.6 85.9 85.5 Basic earnings per share $ 0.89 $ 0.57 $ 1.42 $ 1.30 Diluted earnings per share $ 0.89 $ 0.57 $ 1.42 $ 1.29 ___________________________________ (1) Restricted stock units of 0.3 million and 0.1 million shares for the three months ended September 30, 2021 and 2020, respectively, and 0.3 million and 0.1 million shares for the nine months ended September 30, 2021 and 2020, respectively, were not included in the diluted earnings per share calculation because their effect would have been anti-dilutive. (2) Options to purchase 0.7 million and 0.9 million shares for the three months ended September 30, 2021 and 2020, respectively, and 0.6 million and 0.7 million shares for the nine months ended September 30, 2021 and 2020, respectively, were not included in the diluted earnings per share calculation because their effect would have been anti-dilutive.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue [Abstract]
Disaggregation of Revenue From Contracts With Customers	___ Three Months Ended Nine Months Ended September 30, September 30, (In millions) 2021 2020 2021 2020 Renewals $ 328 $ 303 $ 867 $ 792 Real estate (1) 73 76 207 206 Direct-to-consumer (1) 59 56 157 143 Other 11 4 31 10 Total $ 471 $ 440 $ 1,263 $ 1,151 _____________________________ (1) First-year revenue only.
Movement in Deferred Revenue	(In millions) Deferred Revenue Balance as of December 31, 2020 $ 187 Deferral of revenue 267 Recognition of deferred revenue ( 308 ) Balance as of September 30, 2021 $ 147

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets [Abstract]
Schedule of Other Intangible Asset Balances for Continuing Operations	As of September 30, 2021 As of December 31, 2020 (In millions) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Trade names (1) $ 141 $ — $ 141 $ 141 $ — $ 141 Customer relationships 173 ( 172 ) — 173 ( 171 ) 2 Developed technology 25 ( 11 ) 15 25 ( 6 ) 19 Other 37 ( 31 ) 6 37 ( 29 ) 8 Total $ 375 $ ( 214 ) $ 161 $ 375 $ ( 205 ) $ 170 _____________________________ (1) Not subject to amortization.
Schedule of Expected Amortization Expense for Intangible Assets	(In millions) 2021 (remainder) $ 2 2022 8 2023 6 2024 4 2025 — 2026 — Total $ 21

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Weighted Average Remaining Lease Term and Discount Rate	As of September 30, December 31, 2021 2020 Weighted-average remaining lease term (years) 9 9 Weighted-average discount rate 5.6 % 6.0 %
Supplemental Cash Flow Related to Leases	Nine Months Ended September 30, (In millions) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities (1) $ 4 $ 4 Leased assets obtained in exchange for new lease liabilities 6 2 _____________________________ (1) For the nine months ended September 30, 2020, amounts include $ 2 million of lease termination costs related to the decision to consolidate certain operations of Landmark Home Warranty, LLC (“Landmark”) with those of OneGuard Home Warranties (“OneGuard”). See Note 7 to the accompanying condensed consolidated financial statements for further information.
Supplemental Balance Sheet Information Related to Leases	As of September 30, December 31, (In millions) 2021 2020 Operating lease right-of-use assets $ 24 $ 21 Less lease incentives ( 5 ) ( 6 ) Operating lease right-of-use assets, net $ 19 $ 15 Other accrued liabilities $ 4 $ 3 Operating lease liabilities 21 18 Total operating lease liabilities $ 24 $ 21
Maturities of Lease Liabilities	(In millions) 2021 (remainder) $ 1 2022 5 2023 5 2024 3 2025 2 2026 2 Thereafter 12 Total lease payments 32 Less imputed interest ( 7 ) Total $ 24

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Stock-Based Compensation [Abstract]
Summary of Awards Granted	Number of Weighted Avg. Weighted Avg. Weighted Avg. Awards Exercise Grant Date Vesting Granted Price Fair Value Period Stock options 271,735 $ 54.36 $ 27.78 4.00 Restricted stock units 434,820 54.25 3.00 Performance shares (1) 98,017 54.81 3.00 _____________________________ (1) The number of performance shares granted during the nine months ended September 30, 2021 represents the target value of the awards. The performance shares contain a performance condition that is based on our revenue target, and the ultimate number of performance shares to be earned depends on the achievement of this performance condition.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Long-Term Debt [Abstract]
Schedule of Long-Term Debt	As of September 30, December 31, (In millions) 2021 2020 Term Loan A maturing in 2026 (1) $ 255 $ — Term Loan B maturing in 2028 (2) 374 — Amended Revolving Credit Facility maturing in 2026 — — Prior Term Loan Facility maturing in 2025 (3) — 629 Prior Revolving Credit Facility maturing in 2023 — — 2026 Notes (4) — 346 Less current portion ( 17 ) ( 7 ) Total long-term debt $ 612 $ 968 ___________________________________ (1) As of September 30, 2021, presented net of $ 2 million in unamortized debt issuance costs. (2) As of September 30, 2021, presented net of $ 4 million in unamortized debt issuance costs and $ 2 million in unamortized original issue discount. (3) As of December 31, 2020, presented net of $ 5 million in unamortized debt issuance costs and $ 1 million in unamortized original issue discount. (4) As of December 31, 2020, presented net of $ 4 million in unamortized debt issuance costs.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2021
Supplemental Cash Flow Information [Abstract]
Schedule of Supplemental Information Relating to the Accompanying Condensed Consolidated Statements of Cash Flows	Nine Months Ended September 30, (In millions) 2021 2020 Cash paid for (received from): Interest expense $ 39 $ 47 Income tax payments, net of refunds 29 33 Interest income ( 1 ) ( 2 )

Comprehensive Income (Loss) (Ta

Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2021
Comprehensive Income (Loss) [Abstract]
Summary of the Activity in AOCI, Net of the Related Tax Effects	Unrealized Loss (In millions) on Derivatives Total Balance as of December 31, 2020 $ ( 33 ) $ ( 33 ) Other comprehensive income (loss) before reclassifications: Pre-tax amount 5 5 Tax provision (benefit) 1 1 After-tax amount 4 4 Amounts reclassified from accumulated other comprehensive income (loss) (1) 6 6 Net current period other comprehensive income (loss) 10 10 Balance as of September 30, 2021 $ ( 24 ) $ ( 24 ) Balance as of December 31, 2019 $ ( 21 ) $ ( 21 ) Other comprehensive income (loss) before reclassifications: Pre-tax amount ( 26 ) ( 26 ) Tax provision (benefit) ( 6 ) ( 6 ) After-tax amount ( 20 ) ( 20 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) 5 5 Net current period other comprehensive income (loss) ( 15 ) ( 15 ) Balance as of September 30, 2020 $ ( 36 ) $ ( 36 ) ___________________________________ (1) Amounts are net of tax. See reclassifications out of AOCI below for further details.
Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Loss)	Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) Nine Months Ended September 30, Consolidated Statements of (In millions) 2021 2020 Operations and Comprehensive Income Location Loss on interest rate swap contract $ ( 8 ) $ ( 6 ) Interest expense Impact of income taxes 2 2 Provision for income taxes Total reclassifications related to derivatives $ ( 6 ) $ ( 5 ) Total reclassifications for the period $ ( 6 ) $ ( 5 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Measurements [Abstract]
Schedule of the Carrying Amount and Estimated Fair Value of the Company's Financial Instruments that are Recorded at Fair Value on a Recurring Basis	Estimated Fair Value Measurements (In millions) Statement of Financial Position Location Carrying Value Quoted Prices In Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) As of September 30, 2021: Financial Liabilities: Interest rate swap contract Other accrued liabilities $ 10 $ — $ 10 $ — Other long-term obligations 20 — 20 — Total financial liabilities $ 31 $ — $ 31 $ — As of December 31, 2020: Financial Liabilities: Interest rate swap contract Other accrued liabilities $ 10 $ — $ 10 $ — Other long-term obligations 33 — 33 — Total financial liabilities $ 43 $ — $ 43 $ —

Share Repurchase Program (Table

Share Repurchase Program (Table)	9 Months Ended
	Sep. 30, 2021
Share Repurchase Program [Abstract]
Purchase Of Outstanding Shares	Three Months Ended Nine Months Ended September 30, September 30, (In millions, except per share data) 2021 2020 2021 2020 Number of shares purchased 0.5 $ — 0.5 $ — Average price paid per share (1) $ 46.11 $ — $ 46.11 — Cost of shares purchased $ 25 — $ 25 — ________________________________ (1) The average price paid per share is calculated on a trade date basis and excludes commissions.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Share	Three Months Ended Nine Months Ended September 30, September 30, (In millions, except per share data) 2021 2020 2021 2020 Net Income $ 76 $ 49 $ 122 $ 111 Weighted-average common shares outstanding 85.5 85.3 85.5 85.2 Effect of dilutive securities: RSUs (1) 0.2 0.2 0.2 0.2 Stock options (2) 0.2 0.1 0.2 0.1 Weighted-average common shares outstanding - assuming dilution 85.9 85.6 85.9 85.5 Basic earnings per share $ 0.89 $ 0.57 $ 1.42 $ 1.30 Diluted earnings per share $ 0.89 $ 0.57 $ 1.42 $ 1.29 ___________________________________ (1) Restricted stock units of 0.3 million and 0.1 million shares for the three months ended September 30, 2021 and 2020, respectively, and 0.3 million and 0.1 million shares for the nine months ended September 30, 2021 and 2020, respectively, were not included in the diluted earnings per share calculation because their effect would have been anti-dilutive. (2) Options to purchase 0.7 million and 0.9 million shares for the three months ended September 30, 2021 and 2020, respectively, and 0.6 million and 0.7 million shares for the nine months ended September 30, 2021 and 2020, respectively, were not included in the diluted earnings per share calculation because their effect would have been anti-dilutive.

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details)	9 Months Ended
	Sep. 30, 2021itemstate
Number of States in which Entity Operates | state	50
Minimum [Member]
Number of systems or appliances covered under service plans	20
Number of active home service plans	2,000,000

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Revenue [Abstract]
Capitalized Contract Cost, Net	$ 16,000,000		$ 16,000,000		$ 19,000,000
Capitalized Contract Cost, Amortization	5,000,000	$ 6,000,000	15,000,000	$ 15,000,000
Capitalized Contract Cost, Impairment Loss	0	$ 0	0	$ 0
Deferred revenue	147,000,000		$ 147,000,000		187,000,000
Contracts with customers, period			1 year
Contract asset	53,000,000		$ 53,000,000		$ 0
Revenue recognized	$ 41,000,000		$ 187,000,000

Revenue (Disaggregation of Reve

Revenue (Disaggregation of Revenue from Contracts with Customers) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Reportable segment revenues		$ 471	$ 440	$ 1,263	$ 1,151
Renewals [Member]
Disaggregation of Revenue [Line Items]
Reportable segment revenues		328	303	867	792
Real Estate [Member]
Disaggregation of Revenue [Line Items]
Reportable segment revenues	[1]	73	76	207	206
Direct-To-Consumer [Member]
Disaggregation of Revenue [Line Items]
Reportable segment revenues	[1]	59	56	157	143
Revenue, Other [Member]
Disaggregation of Revenue [Line Items]
Reportable segment revenues		$ 11	$ 4	$ 31	$ 10
[1]	First-year revenue only.

Revenue (Movement in Deferred R

Revenue (Movement in Deferred Revenue) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Revenue [Abstract]
Balance as of December 31, 2020	$ 187
Deferral of revenue	267
Recognition of deferred revenue	(308)
Balance as of September 30, 2021	$ 147

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Indefinite-lived Intangible Assets [Line Items]
Goodwill	$ 512,000,000		$ 512,000,000		$ 512,000,000
Goodwill impairment charges			0	$ 0
Accumulated impairment loss	0		0		$ 0
Business acquisition, cash from operations		$ 5,000,000	0
Amortization expense	$ 2,000,000	$ 2,000,000	8,000,000	9,000,000
Trade Names [Member]
Indefinite-lived Intangible Assets [Line Items]
Intangible asset impairment charges			$ 0	$ 0

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Schedule of Other Intangible Asset Balances for Continuing Operations) (Details) - USD ($) $ in Millions		Sep. 30, 2021	Dec. 31, 2020
Finite Lived and Indefinite Lived Intangible Assets by Major Class [Line Items]
Gross		$ 375	$ 375
Accumulated Amortization		(214)	(205)
Net		161	170
Customer Relationships [Member]
Finite Lived and Indefinite Lived Intangible Assets by Major Class [Line Items]
Gross		173	173
Accumulated Amortization		(172)	(171)
Net			2
Developed Technology [Member]
Finite Lived and Indefinite Lived Intangible Assets by Major Class [Line Items]
Gross		25	25
Accumulated Amortization		(11)	(6)
Net		15	19
Other [Member]
Finite Lived and Indefinite Lived Intangible Assets by Major Class [Line Items]
Gross		37	37
Accumulated Amortization		(31)	(29)
Net		6	8
Trade Names [Member]
Finite Lived and Indefinite Lived Intangible Assets by Major Class [Line Items]
Gross	[1]	141	141
Accumulated Amortization	[1]
Net	[1]	$ 141	$ 141
[1]	Not subject to amortization.

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Schedule of Expected Amortization Expense for Intangible Assets) (Details) $ in Millions	Sep. 30, 2021USD ($)
Goodwill and Intangible Assets [Abstract]
2021 (remainder)	$ 2
2022	8
2023	6
2024	4
2025	0
2026	0
Total	$ 21

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Lessee, Lease, Description [Line Items]
Operating lease expense	$ 1	$ 1	$ 3	$ 2
Maximum [Member]
Lessee, Lease, Description [Line Items]
Leases, Remaining Lease Term Years			13 years
Leases, Renewal Term			5 years
Minimum [Member]
Lessee, Lease, Description [Line Items]
Leases, Remaining Lease Term Years			2 years

Leases (Weighted Average Remain

Leases (Weighted Average Remaining Lease Term and Discount Rate) (Details)	Sep. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Weighted-average remaining lease term (years)	9 years	9 years
Weighted-average discount rate	5.60%	6.00%

Leases (Supplemental Cash Flow

Leases (Supplemental Cash Flow Related to Leases) (Details) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	[1]	$ 4	$ 4
Leased assets obtained in exchange for new lease liabilities		$ 6	2
Lease termination cost			$ 2
[1]	For the nine months ended September 30, 2020, amounts include $ 2 million of lease termination costs related to the decision to consolidate certain operations of Landmark Home Warranty, LLC (“Landmark”) with those of OneGuard Home Warranties (“OneGuard”). See Note 7 to the accompanying condensed consolidated financial statements for further information.

Leases (Supplemental Balance Sh

Leases (Supplemental Balance Sheet Information Related to Leases) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease right-of-use assets	$ 24	$ 21
Less lease incentives	(5)	(6)
Operating lease right-of-use assets, net	19	15
Other accrued liabilities	4	3
Operating lease liabilities	21	18
Total operating lease liabilities	$ 24	$ 21

Leases (Maturities of Lease Lia

Leases (Maturities of Lease Liabilities) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Leases [Abstract]
2021 (remainder)	$ 1
2022	5
2023	5
2024	3
2025	2
2026	2
Thereafter	12
Total lease payments	32
Less imputed interest	(7)
Total	$ 24	$ 21

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Taxes [Abstract]
Effective tax rate on income from continuing operations (as a percent)	24.30%	24.80%	24.40%	25.10%

Restructuring Charges (Narrativ

Restructuring Charges (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	$ 0		$ 2	$ 4
Restructuring charges, net of tax				1	3
Lease termination and other costs					(2)
Severance Costs				1	$ 1
Accelerated depreciation related to disposal of technology systems			$ 1	1
Restructuring Reserve	0			$ 0		$ 1
Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1	1
Restructuring charges, net of tax	$ 1	$ 1

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Stock-Based Compensation [Abstract]
Stock-based compensation expense	$ 5	$ 4	$ 19	$ 13
Stock-based compensation expense, net of tax	4	$ 4	14	$ 11
Total unrecognized compensation costs related to non-vested stock options, restricted share units and performance shares	$ 46		$ 46
Weighted-average period of recognition of stock-based compensation cost			2 years 3 months 21 days

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Awards Granted) (Details)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Number of Awards Granted
Granted (in shares) | shares	271,735
Weighted Average Exercise Price
Granted (in dollars per share)	$ 54.36
Granted, Weighted Average Grant Date Fair Value (in dollars per share)	$ 27.78
Weighted Average Remaining Contractual Term (in years)
Granted, Weighted Ave Vesting Period	4 years
RSU [Member]
Weighted Average Remaining Contractual Term (in years)
Granted (in shares) | shares	434,820
Granted (in dollars per share)	$ 54.25
Weighted Avg. Vesting Period	3 years
Performance Shares [Member]
Weighted Average Remaining Contractual Term (in years)
Granted (in shares) | shares	98,017	[1]
Granted (in dollars per share)	$ 54.81	[1]
Weighted Avg. Vesting Period	3 years	[1]
[1]	The number of performance shares granted during the nine months ended September 30, 2021 represents the target value of the awards. The performance shares contain a performance condition that is based on our revenue target, and the ultimate number of performance shares to be earned depends on the achievement of this performance condition.

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) $ in Millions	Jun. 17, 2021USD ($)	Feb. 17, 2021USD ($)	Sep. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)
Debt Instrument [Line Items]
Cost of debt purchased		$ 100
Loss on extinguishment of debt		$ 1	$ 0	$ 30	$ 0	$ 31	$ 0
Scheduled long-term debt payments, remainder of 2021			4			4
Scheduled long-term debt payments, 2022			17			17
Scheduled long-term debt payments, 2023			17			17
Scheduled long-term debt payments, 2024			17			17
Scheduled long-term debt payments, 2025			17			17
Scheduled long-term debt payments, 2026			205			205
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			250			250
Available borrowing capacity			248			$ 248
Threshold percentage included in financial covenant						4
Letter of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Amount Outstanding			$ 2			$ 2
Maximum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Consolidated First Lien Leverage Ratio			3.50			3.50
Term Loan A Maturing In 2026 [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Facility maturity date						Jun. 17, 2026
Term Loan A Maturing In 2026 [Member] | Maximum [Member] | Secured Debt [Member] | Alternative Base Rate [Member]
Debt Instrument [Line Items]
Borrowing margin (as a percent)						1.00%
Term Loan A Maturing In 2026 [Member] | Maximum [Member] | Secured Debt [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Borrowing margin (as a percent)						2.00%
Term Loan A Maturing In 2026 [Member] | Minimum [Member] | Secured Debt [Member] | Alternative Base Rate [Member]
Debt Instrument [Line Items]
Borrowing margin (as a percent)						0.50%
Term Loan A Maturing In 2026 [Member] | Minimum [Member] | Secured Debt [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Borrowing margin (as a percent)						1.50%
Term Loan B Maturing In 2028 [Member] | Alternative Base Rate [Member]
Debt Instrument [Line Items]
Borrowing margin (as a percent)						1.25%
Term Loan B Maturing In 2028 [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Borrowing margin (as a percent)						2.25%
Term Loan B Maturing In 2028 [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Facility maturity date						Jun. 17, 2028
Amended Revolving Credit Facility Maturing In 2026 [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Facility maturity date						Jun. 17, 2026
Prior Term Loan Facility Maturing In 2025 [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Cost of debt purchased	$ 534
2026 Notes [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Cost of debt purchased	$ 350
Redemption premium			$ 21			$ 21
Write-off of debt issuance costs			$ 9
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed	106.10%

Long-Term Debt (Schedule of Lon

Long-Term Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Millions		Sep. 30, 2021	Dec. 31, 2020
Long-term debt [Line Items]
Less current portion		$ (17)	$ (7)
Total long-term debt		612	968
Term Loan A Maturing In 2026 [Member] | Secured Debt [Member]
Long-term debt [Line Items]
Long-term debt	[1]	255
Unamortized debt issuance costs		2
Term Loan B Maturing In 2028 [Member] | Secured Debt [Member]
Long-term debt [Line Items]
Long-term debt	[2]	374
Term Loan B Maturing In 2028 [Member] | Loans Payable [Member]
Long-term debt [Line Items]
Unamortized debt issuance costs		4
Unamortized original issue discount		2
Prior Term Loan Facility Maturing In 2025 [Member] | Secured Debt [Member]
Long-term debt [Line Items]
Long-term debt	[3]		629
Unamortized debt issuance costs			5
Unamortized original issue discount			1
Prior Revolving Credit Facility Maturing In 2023 [Member] | Revolving Credit Facility [Member]
Long-term debt [Line Items]
Long-term debt		$ 0	0
2026 Notes [Member] | Loans Payable [Member]
Long-term debt [Line Items]
Long-term debt	[4]		346
Unamortized debt issuance costs			$ 4
[1]	As of September 30, 2021, presented net of $ 2 million in unamortized debt issuance costs.
[2]	As of September 30, 2021, presented net of $ 4 million in unamortized debt issuance costs and $ 2 million in unamortized original issue discount.
[3]	As of December 31, 2020, presented net of $ 5 million in unamortized debt issuance costs and $ 1 million in unamortized original issue discount.
[4]	As of December 31, 2020, presented net of $ 4 million in unamortized debt issuance costs.

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Schedule of Supplemental Information Relating to the Accompanying Condensed Consolidated Statements of Cash Flows) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash paid for (received from):
Interest expense	$ 39	$ 47
Income tax payments, net of refunds	29	33
Interest income	$ (1)	$ (2)

Comprehensive Income (Loss) (Su

Comprehensive Income (Loss) (Summary of the Activity in AOCI, Net of the Related Tax Effects) (Details) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at the beginning of period		$ (33)	$ (21)
Other comprehensive income (loss) before reclassifications:
Pre-tax amount		5	(26)
Tax provision (benefit)		1	(6)
After-tax amount		4	(20)
Amounts reclassified from accumulated other comprehensive income (loss)	[1]	6	5
Net current period other comprehensive income (loss)		10	(15)
Balance at the end of period		(24)	(36)
Unrealized Loss On Derivatives [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at the beginning of period		(33)	(21)
Other comprehensive income (loss) before reclassifications:
Pre-tax amount		5	(26)
Tax provision (benefit)		1	(6)
After-tax amount		4	(20)
Amounts reclassified from accumulated other comprehensive income (loss)	[1]	6	5
Net current period other comprehensive income (loss)		10	(15)
Balance at the end of period		$ (24)	$ (36)
[1]	Amounts are net of tax. See reclassifications out of AOCI below for further details.

Comprehensive Income (Loss) (Sc

Comprehensive Income (Loss) (Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ (7)	$ (14)	$ (32)	$ (43)
Provision for income taxes	(25)	(16)	(39)	(37)
Net Income	$ 76	$ 49	122	111
Amount Reclassified From Accumulated Other Comprehensive Income (Loss)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net Income			(6)	(5)
Unrealized Loss On Derivatives [Member] | Amount Reclassified From Accumulated Other Comprehensive Income (Loss)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense			(8)	(6)
Provision for income taxes			2	2
Net Income			$ (6)	$ (5)

Derivative Financial Instrume_2

Derivative Financial Instruments (Narrative) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Derivative Financial Instruments [Abstract]
Hedging loss in accumulated other comprehensive income expected to be recognized in earnings, net of tax	$ 8

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Fair Value Measurements [Abstract]
Carrying amount of total debt	$ 629		$ 975
Fair value of total debt	635		$ 1,004
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount	0	$ 0
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount	0	0
Fair Value, Liabilities, Level 1 to Level 2 Transfers, Amount	0	0
Fair Value, Liabilities, Level 2 to Level 1 Transfers, Amount	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	$ 0	$ 0

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of the Carrying Amount and Estimated Fair Value of the Company's Financial Instruments that are Recorded at Fair Value on a Recurring Basis) (Details) - Recurring [Member] - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Carrying Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities	$ 31	$ 43
Carrying Value [Member] | Other Accrued Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap contracts	10	10
Carrying Value [Member] | Other Long-Term Obligation [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap contracts	20	33
Estimated Fair Value [Member] | Quoted Price In Active Markets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities	0	0
Estimated Fair Value [Member] | Quoted Price In Active Markets (Level 1) [Member] | Other Accrued Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap contracts	0	0
Estimated Fair Value [Member] | Quoted Price In Active Markets (Level 1) [Member] | Other Long-Term Obligation [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap contracts	0	0
Estimated Fair Value [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities	31	43
Estimated Fair Value [Member] | Significant Other Observable Inputs (Level 2) [Member] | Other Accrued Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap contracts	10	10
Estimated Fair Value [Member] | Significant Other Observable Inputs (Level 2) [Member] | Other Long-Term Obligation [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap contracts	20	33
Estimated Fair Value [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities	0	0
Estimated Fair Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Other Accrued Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap contracts	0	0
Estimated Fair Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Other Long-Term Obligation [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap contracts	$ 0	$ 0

Share Repurchase Program (Narra

Share Repurchase Program (Narrative) (Details) $ in Millions	Sep. 07, 2021USD ($)
Share Repurchase Program [Abstract]
Repurchase authorized amount	$ 400
Repurchase authorized period	3 years

Share Repurchase Program (Purch

Share Repurchase Program (Purchase Of Outstanding Shares) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended	9 Months Ended
		Sep. 30, 2021	Sep. 30, 2021
Share Repurchase Program [Abstract]
Number of shares purchased		0.5	0.5
Average price paid per share	[1]	$ 46.11	$ 46.11
Cost of share purchased		$ 25	$ 25
[1]	The average price paid per share is calculated on a trade date basis and excludes commissions.

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income		$ 76	$ 49	$ 122	$ 111
Weighted-average common shares outstanding		85.5	85.3	85.5	85.2
Weighted-average common shares outstanding - assuming dilution		85.9	85.6	85.9	85.5
Basic earnings per share (in dollars per share)		$ 0.89	$ 0.57	$ 1.42	$ 1.30
Diluted earnings per share (in dollars per share)		$ 0.89	$ 0.57	$ 1.42	$ 1.29
RSU [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Effect of dilutive securities	[1]	0.2	0.2	0.2	0.2
Antidilutive securities excluded from computation of diluted earnings per share (in shares)		0.3	0.1	0.3	0.1
Stock Options [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Effect of dilutive securities	[2]	0.2	0.1	0.2	0.1
Antidilutive securities excluded from computation of diluted earnings per share (in shares)		0.7	0.9	0.6	0.7
[1]	Restricted stock units of 0.3 million and 0.1 million shares for the three months ended September 30, 2021 and 2020, respectively, and 0.3 million and 0.1 million shares for the nine months ended September 30, 2021 and 2020, respectively, were not included in the diluted earnings per share calculation because their effect would have been anti-dilutive.
[2]	Options to purchase 0.7 million and 0.9 million shares for the three months ended September 30, 2021 and 2020, respectively, and 0.6 million and 0.7 million shares for the nine months ended September 30, 2021 and 2020, respectively, were not included in the diluted earnings per share calculation because their effect would have been anti-dilutive.