Company: HOUS
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001398987-25-000067
Chunk: 104

Company: Anywhere Real Estate Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 2
Chunk 104
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 litigation. Payment will be due within 21 business days after all appellate rights are exhausted, the timing of which is uncertain.

•$19 million in remaining settlement payments under the settlement agreement the Company entered into in the first quarter of 2025 to settle the TCPA class action matter. Payment will be due following final court approval of the settlement.

•$41 million for a legacy tax matter, which will become payable even if we seek further judicial relief.

Our material cash requirements from known contractual and other obligations as of March 31, 2025 have not changed materially from the amounts reported in our 2024 Form 10-K.

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 capital, grow our business and return capital to stockholders may be adversely impacted.

Material Litigation. Adverse outcomes in material litigation could have a material adverse effect, individually or in the aggregate, on our business, results of operations and financial condition, in particular with respect to liquidity. See Note 6, "Commitments and Contingencies—Litigation", to the Condensed Consolidated Financial Statements for more information.

Seasonality. Historically, operating results and revenues for all of our businesses have been strongest in the second and third quarters of the calendar year. A significant portion of the expenses we incur in our real estate brokerage operations are related to marketing activities and commissions and therefore, are variable. However, many of our other expenses, such as interest payments, facilities costs and certain personnel-related costs, are fixed and cannot be reduced during the seasonal fluctuations in the business. This seasonality generally increases our need to borrow under the Revolving Credit Facility during the first third of the year.

Cash Flows

At March 31, 2025, we had $115 million of cash, cash equivalents and restricted cash, a decrease of $9 million compared to the balance of $124 million at December 31, 2024. The