Company: HOUS
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001398987-25-000067
Chunk: 79

Company: Anywhere Real Estate Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 79
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verse outcomes in material litigation could have a material adverse effect, individually or in the aggregate, on our business, results of operations and financial condition, in particular with respect to liquidity. See Note 6, "Commitments and Contingencies—Litigation", to the Condensed Consolidated Financial Statements for more information.

Seasonality. Historically, operating results and revenues for all of our businesses have been strongest in the second and third quarters of the calendar year. A significant portion of the expenses we incur in our real estate brokerage operations are related to marketing activities and commissions and therefore, are variable. However, many of our other expenses, such as interest payments, facilities costs and certain personnel-related costs, are fixed and cannot be reduced during the seasonal fluctuations in the business. This seasonality generally increases our need to borrow under the Revolving Credit Facility during the first third of the year.

Cash Flows

At March 31, 2025, we had $115 million of cash, cash equivalents and restricted cash, a decrease of $9 million compared to the balance of $124 million at December 31, 2024. The following table summarizes our cash flows for the three months ended March 31, 2025 and 2024:

 Three Months Ended March 31,  20252024ChangeCash provided by (used in):Operating activities$(105)$(122)$17 Investing activities(13)(16)3 Financing activities109 134 (25)Effects of change in exchange rates on cash, cash equivalents and restricted cash— — — Net change in cash, cash equivalents and restricted cash$(9)$(4)$(5)

For the three months ended March 31, 2025, $17 million less cash was used in operating activities compared to the same period in 2024 principally due to:

•$19 million more cash provided by operating results;

•$16 million less cash used for accounts payable, accrued expenses and other liabilities; and

•$8 million more cash provided by dividends received from equity method investments primarily related to Guaranteed Rate Affinity,

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partially offset by:

•$17 million less cash used for other assets primarily due to prepaid contracts; and

•$9 million less cash provided by the net change in relocation and trade receivables due to timing.

For the three months ended March 31, 2025, $3 million less cash was used in investing activities compared to the same period in 2024 primarily due to