Company: HOUS
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001398987-25-000067
Chunk: 73

Company: Anywhere Real Estate Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 73
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 related to specific restructuring activities.

The Company incurred $12 million of restructuring costs during the first quarter of 2025 compared to $11 million of costs during the first quarter of 2024. See Note 5, "Restructuring Costs", in the Condensed Consolidated Financial Statements for additional information.

The Company's provision for income taxes in interim periods is computed by applying its estimated annual effective tax rate against the income or loss before income taxes for the period. In addition, non-recurring or discrete items are recorded in the period in which they occur. The provision for income taxes was a benefit of $24 million for the three months ended March 31, 2025 compared to a benefit of $28 million for the three months ended March 31, 2024. Our effective tax rate for the three months ended March 31, 2025 was 24%, primarily impacted by non-deductible executive compensation and valuation allowance on state net operating losses, partially offset by research and development tax credits.

31

The following table reflects a non-GAAP reconciliation of Net loss attributable to Anywhere and Anywhere Group to Operating EBITDA during the three months ended March 31, 2025 and 2024:

Three Months Ended March 31, 20252024Net loss attributable to Anywhere and Anywhere Group$(78)$(101)Income tax benefit(24)(28)Loss before income taxes(102)(129)Add:  Depreciation and amortization46 55 Interest expense, net36 39 Stock-based compensation (a)5 4 Restructuring costs, net (b)12 11 Impairments (c)6 6 Former parent legacy (benefit) cost, net (d)(3)1 Legal contingencies (e)— — Gain on the sale of businesses, investments or other assets, net(1)— Operating EBITDA$(1)$(13)_______________

(a)Stock-based compensation is a non-cash expense that is based on grant date fair value, which is influenced by the Company's stock price, and recognized over the requisite service period. This expense is primarily related to Corporate and Other.

(b)Restructuring costs include personnel-related, facility-related and other costs related to professional fees and consulting fees. See Note 5, "Restructuring Costs", to the Condensed Consolidated Financial Statements for additional information.

Restructuring charges incurred for the three months ended March 31, 202