Company: HOUS
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001398987-25-000067
Chunk: 52

Company: Anywhere Real Estate Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 52
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25: Strategic Transformation InitiativeIn 2025, the Company launched Reimagine25 to transform how it operates as a Company. The initial phase of this initiative focuses on reimagining its branch operating model, improving product and technology infrastructure, optimizing leads management, streamlining finance processes, and enhancing procurement. These efforts are designed to simplify, integrate, and digitize operations, leveraging advanced technologies such as generative artificial intelligence to provide better solutions at a lower cost. As part of Reimagine25, the Company will incur restructuring costs associated with the implementation of these transformative changes. As the Company's transformation progresses, it may further expand the Reimagine25 focus areas to encompass additional aspects of the business.The following is a reconciliation of the beginning and ending reserve balances related to the Reimagine25 Plan:Personnel-related costsFacility-related costs OtherTotalBalance at December 31, 2024$— $— $— $— Restructuring charges (a)3 3 2 8 Costs paid or otherwise settled— (2)— (2)Balance at March 31, 2025$3 $1 $2 6 _______________(a)In addition, the Company incurred $2 million of facility-related costs for lease asset impairments in connection with the Reimagine25 Plan during the three months ended March 31, 2025.The following table shows the total costs currently expected to be incurred by type of cost related to the Reimagine25 Plan:Total amount expected to be incurred Amount incurred to date Total amount remaining to be incurredPersonnel-related costs$7 $3 $4 Facility-related costs15 3 12 Other costs8 4 4 Total$30 $10 $20 The following table shows the total costs currently expected to be incurred by reportable segment and Corporate and Other  related to the Reimagine25 Plan:Total amount expected to be incurred Amount incurred to date Total amount remaining to be incurredFranchise Group$— $— $— Owned Brokerage Group20 5 15 Title Group— — — Corporate and Other10 5 5 Total$30 $10 $20 Prior Restructuring PlansThe Company has prior restructuring plans related to previous operational efficiency initiatives and transformation of the Company's corporate headquarters. At December 31, 2024, the remaining liability related