Company: HOUS
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001398987-25-000020
Chunk: 270

Company: Anywhere Real Estate Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 270
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2022, the Company sold its title insurance underwriter, Title Resources Guaranty Company, for $210 million and a 30% equity interest in a joint venture that owns the title insurance underwriter (the "Title Insurance Underwriter Joint Venture"). The sale resulted in a net gain of $131 million recorded in the Other income, net line on the Consolidated Statements of Operations. During the second quarter of 2022, the Company sold a portion of its interest in the Title Insurance Underwriter Joint Venture, reducing its equity interest from 30% to 26% and resulting in a gain of $4 million. In 2023, the Company sold another portion, further reducing its equity interest from 26% to 25% and resulting in a gain of $1 million. In 2024, the Company's equity interest was further diluted to 22%.During the fourth quarter of 2024, the Company entered into a binding term sheet with a subsidiary of the Title Insurance Underwriter Joint Venture related to the sale of 10% of the preferred equity in entities containing the assets of certain of the Company's title and escrow entities for $18.8 million, with a right to purchase 100% of those entities at the same valuation used for the initial purchase. The transaction includes customary minority protections, is contingent on certain conditions, and remains subject to termination provisions outlined in the term sheet.

5.PROPERTY AND EQUIPMENT, NET

Property and equipment, net consisted of:  December 31, 20242023Furniture, fixtures and equipment$87 $146 Capitalized software488 530 Finance lease assets72 81 Building and leasehold improvements268 285 Land1 2 Gross property and equipment916 1,044 Less: accumulated depreciation(669)(764)Property and equipment, net$247 $280 The Company recorded depreciation expense related to property and equipment of $109 million, $106 million and $118 million for the years ended December 31, 2024, 2023 and 2022, respectively.

F-22

6.LEASES

The Company's lease portfolio consists primarily of office space and equipment. The Company has approximately 1,000 real estate leases with lease terms ranging from less than 1 year to 17 years and includes the Company's brokerage sales offices, regional and branch offices for title and relocation operations, corporate headquarters, regional headquarters, and facilities serving as local administration, training and storage.