Company: HOUS
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001398987-25-000108
Chunk: 62

Company: Anywhere Real Estate Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 62
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d)$12 $7 $24 $18 _______________(a)Personnel-related costs consist of severance costs provided to employees who have been terminated.(b)Facility-related costs consist of costs associated with planned facility closures such as contract termination costs, amortization of lease assets that will continue to be incurred under the contract for its remaining term without economic benefit to the Company, accelerated depreciation on asset disposals and other facility and employee relocation related costs.(c)Other restructuring costs consist of costs related to professional fees, consulting fees and other costs associated with restructuring activities which are primarily recorded at Corporate.(d)Restructuring charges for the three months ended June 30, 2025 include $11 million of expense related to Reimagine25 and $1 million of expense related to prior restructuring plans. Restructuring charges for the three months ended June 30, 2024 include $7 million of expense related to prior restructuring plans.Restructuring charges for the six months ended June 30, 2025 include $19 million of expense related to Reimagine25 and $5 million of expense related to prior restructuring plans. Restructuring charges for the six months ended June 30, 2024 include $18 million of expense related to prior restructuring plans.Reimagine25: Strategic Transformation InitiativeIn 2025, the Company launched Reimagine25 to transform how it operates as a Company. The initial phase of this initiative focuses on reimagining its branch operating model, improving product and technology infrastructure, optimizing leads management, streamlining finance processes, and enhancing procurement. These efforts are designed to simplify, integrate, and digitize operations, leveraging advanced technologies such as generative artificial intelligence to provide better solutions at a lower cost. As part of Reimagine25, the Company will incur restructuring costs associated with the implementation of these transformative changes. As the Company's transformation progresses, it may further expand the Reimagine25 focus areas to encompass additional aspects of the business.The following is a reconciliation of the beginning and ending reserve balances related to Reimagine25:Personnel-related costsFacility-related costs OtherTotalBalance at December 31, 2024$— $— $— $— Restructuring charges (a)8 6 5 19 Costs paid or otherwise settled(2)(3)(4)(9)Balance at June 30, 2025$6 $3 $1 $10 _______________(a)In