Company: HOUS
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001398987-25-000020
Chunk: 221

Company: Anywhere Real Estate Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 221
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 year ended December 31, 2024 compared with 2023.

Revenues increased $22 million primarily driven by a $17 million increase in purchase revenue due to increases in purchase units and the average fee per closing unit, as well as a $4 million increase in refinance revenue.

Operating EBITDA from the title agency business increased $8 million due to the $22 million increase in purchase and refinance revenue discussed above, partially offset by a $9 million increase in employee-related and other operating costs primarily due to higher employee incentive compensation and staffing related to the transformation of the back-office operations and a $5 million increase in variable operating costs related to higher revenue. Operating EBITDA from equity in earnings decreased $5 million primarily related to the Title Insurance Underwriter Joint Venture.

FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES

Financial ConditionDecember 31, 2024December 31, 2023ChangeTotal assets$5,636 $5,839 $(203)Total liabilities4,066 4,158 (92)Total equity1,570 1,681 (111)

For the year ended December 31, 2024, total assets decreased $203 million primarily due to:

•an $89 million net decrease in franchise agreements and other amortizable intangible assets primarily due to amortization;

•a $49 million net decrease in operating lease assets primarily due to asset depreciation;

•a $45 million net decrease in other current and non-current assets primarily due to prepaid contracts and independent sales agent incentives; and

•a $33 million net decrease in property and equipment primarily due to asset depreciation.

59

Total liabilities decreased $92 million primarily due to:

•a $57 million decrease in operating lease liabilities;

•a $21 million decrease in other non-current liabilities primarily due to payment of long-term contracts;

•a $21 million net decrease in corporate debt primarily related to repayment of Term Loan A Facility and repurchases of Unsecured Notes that occurred during the third quarter of 2024, partially offset by additional borrowings under the Revolving Credit Facility as of December 31, 2024 (see Note 9, "Short and Long-Term Debt", to the Consolidated Financial Statements for further details); and

•a $20 million decrease in accrued expenses and other current liabilities, primarily due to payments of previously accrued legal matters,

partially offset by a $25 million increase in securitization obligations.

Total equity decreased $111 million primarily due