Company: HOUS
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001398987-25-000020
Chunk: 11

Company: Anywhere Real Estate Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 11
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DA is a non-GAAP financial measure and is defined as net income (loss) adjusted for depreciation and amortization, interest expense, net (excluding relocation services interest for securitization assets and securitization obligations), income taxes, and certain non-core items. Non-core items include non-cash stock-based compensation, restructuring charges, impairments, former parent legacy items, legal contingencies unrelated to normal operations which currently includes industry-wide antitrust lawsuits and class action lawsuits, gains or losses on the early extinguishment of debt, and gains or losses on discontinued operations or the sale of businesses, investments, or other assets. Operating EBITDA Margin is defined as Operating EBITDA as a percentage of revenues.

Our presentation of Operating EBITDA may not fully align with similar measures employed by other entities. Variations may arise due to differences in the inclusion or exclusion of specific items and the interpretation of non-core elements within the calculation. See below under the header "Financial Condition, Liquidity and Capital Resources—Non-GAAP Financial Measures" for additional information.

Year Ended December 31, 2024 vs. Year Ended December 31, 2023 

Our consolidated results comprised the following:

 Year Ended December 31, 20242023ChangeNet revenues$5,692 $5,636 $56 Total expenses5,828 5,758 70 Loss before income taxes, equity in earnings and noncontrolling interests(136)(122)(14)Income tax benefit(2)(15)13 Equity in earnings of unconsolidated entities(7)(9)2 Net loss(127)(98)(29)Less: Net (income) loss attributable to noncontrolling interests(1)1 (2)Net loss attributable to Anywhere and Anywhere Group$(128)$(97)$(31)

Net revenues increased $56 million or 1% for the year ended December 31, 2024 compared with the year ended December 31, 2023 primarily driven by an increase in revenues at Owned Brokerage Group.

Total expenses increased $70 million or 1% for the year ended December 31, 2024 compared to 2023 primarily driven by gains on the early extinguishment of debt which were $7 million during the year ended December 31, 2024 compared to $169 million during the year ended December 31, 2023.

Total expenses, excluding the impact of gains on the early extinguishment of debt, decreased $