Company: HOUS
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001398987-25-000020
Chunk: 20

Company: Anywhere Real Estate Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 20
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 not been extended, refinanced or replaced to have a maturity date after October 26, 2027 (or are not otherwise discharged, defeased or repaid by March 16, 2026). As of December 31, 2024, no principal payments on our debt are due in 2025. See Note 9, "Short and Long-Term Debt", to the Consolidated Financial Statements for additional information regarding our debt.

Leases. As of December 31, 2024, we had approximately $453 million of future lease payments with $126 million of payments due in 2025. See Note 6, "Leases", to the Consolidated Financial Statements for additional information regarding our lease obligations.

Purchase Commitments. As of December 31, 2024, we had $61 million related to purchase commitments due in 2025 and $247 million thereafter, approximately 85% of which relates to the minimum licensing fees we are required to pay to the owners of the two brands we do not own under 50-year license agreements. See Note 15, "Commitments and Contingencies", to the Consolidated Financial Statements for additional information regarding our purchase obligations.

Minority-Owned Joint Ventures. We have multiple unconsolidated joint ventures and equity in earnings or losses related to the financial results of unconsolidated joint ventures are recorded on the "Equity in (earnings) losses of unconsolidated entities" line in the accompanying Consolidated Statements of Operations (and accordingly impact Operating EBITDA) but are not reported as revenue. We may, from time to time, elect or commit to make investments in existing and future unconsolidated joint ventures. See Note 4, "Equity Method Investments", to the Consolidated Financial Statements for additional information regarding our unconsolidated joint ventures. 

Other material factors that may impact our liquidity, include, but are not limited to, the following: 

Market and Macroeconomic Conditions. Our earnings have significantly decreased since mid-2022. This decline has been driven by the rapid downturn in the residential real estate market and has resulted in a substantial increase in our net debt leverage ratio. If the residential real estate market or the economy as a whole does not improve or further weakens, our business, financial condition and liquidity are likely to continue to be adversely affected. In particular, we may experience higher leverage as a result of lower earnings and/or increased borrowing under our Revolving Credit Facility, and our ability to access