Company: HOUS
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001398987-25-000108
Chunk: 92

Company: Anywhere Real Estate Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 92
---
 2024 consisted of $1 million of earnings for the Title Insurance Underwriter Joint Venture and $3 million of earnings for the operations of our other equity method investments, partially offset by $2 million of losses for Guaranteed Rate Affinity.

During the six months ended June 30, 2025, we incurred $24 million of restructuring costs compared to $18 million of costs during the six months ended June 30, 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 $15 million for the six months ended June 30, 2025 compared to a benefit of $17 million for the six months ended June 30, 2024. Our effective tax rate for the six months ended June 30, 2025 was 23%, primarily impacted by non-deductible executive compensation and valuation allowance on state net operating losses, partially offset by research and development tax credits.

39

The following table reflects a non-GAAP reconciliation of Net loss attributable to Anywhere and Anywhere Group to Operating EBITDA during the six months ended June 30, 2025 and 2024:

Six Months Ended June 30, 20252024Net loss attributable to Anywhere and Anywhere Group$(51)$(71)Income tax benefit(15)(17)Loss before income taxes(66)(88)Add:  Depreciation and amortization95 103 Interest expense, net72 79 Stock-based compensation (a)9 8 Restructuring costs, net (b)24 18 Impairments (c)6 8 Former parent legacy (benefit) cost, net(2)2 Legal contingencies (d)— — Gain on the early extinguishment of debt (e)(2)— Gain on the sale of businesses, investments or other assets, net(4)— Operating EBITDA$132 $130 _______________     

(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