Company: HOUS
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001398987-25-000067
Chunk: 102

Company: Anywhere Real Estate Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 2
Chunk 102
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venues increased $7 million primarily as a result of a $5 million increase in resale revenue due to an increase in the average fee per closing unit and a $2 million increase in refinance revenue.

Operating EBITDA decreased $3 million primarily due to a $5 million increase in employee-related and other operating costs primarily due to higher employee incentive compensation and staffing related to the rebalancing and streamlining of title back-office support and a $5 million increase in variable operating costs due to volume increases, partially offset by a $7 million increase in revenues discussed above.

33

FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES

Financial Condition

March 31, 2025December 31, 2024ChangeTotal assets$5,588 $5,636 $(48)Total liabilities4,092 4,066 26 Total equity1,496 1,570 (74)

For the three months ended March 31, 2025, total assets decreased $48 million primarily due to:

•a $22 million net decrease in other current and non-current assets primarily due to a reduction in income tax receivables and a decrease in equity method investments as a result of dividends received from Guaranteed Rate Affinity and other equity method investments;

•a $22 million net decrease in franchise agreements and other amortizable intangible assets due to amortization;

•a $10 million decrease in property and equipment primarily due to asset depreciation;

•an $8 million net decrease in operating lease assets primarily due to asset depreciation; and

•an $8 million decrease in cash and cash equivalents,

partially offset by a $23 million increase in relocation and trade receivables primarily due to timing.

Total liabilities increased $26 million primarily due to a $122 million net increase in corporate debt primarily related to additional borrowings under the Revolving Credit Facility, partially offset by:

•a $47 million decrease in accrued expenses and other current liabilities primarily due to payment of employee-related liabilities in the first quarter of 2025 which were fully accrued as of December 31, 2024;

•a $24 million decrease in deferred tax liabilities;

•an $11 million decrease in operating lease liabilities; and

•a $6 million decrease in other non-current liabilities primarily due to payment of long-term contracts.

Total equity decreased $74 million primarily due to a net loss of $78 million for the three months ended March 31, 2025.

Liquidity and Capital Resources

Cash flows from operations