Company: HOUS
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001398987-25-000020
Chunk: 13

Company: Anywhere Real Estate Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 13
---
)(15)Loss before income taxes(130)(112)Add:  Depreciation and amortization198 196 Interest expense, net153 151 Stock-based compensation (a)17 12 Restructuring costs, net (b)32 49 Impairments (c)20 65 Former parent legacy cost, net (d)2 18 Legal contingencies (e)2 43 Gain on the early extinguishment of debt (f)(7)(169)Loss on the sale of businesses, investments or other assets, net3 2 Operating EBITDA$290 $255 _______________

(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 and Other.

(b)Restructuring costs are approximately half personnel-related, including severance costs primarily to streamline finance and other administrative functions, and half facility-related, including costs incurred to reduce our brokerage operating model to align with the industry as well as our Corporate headquarters footprint.

Restructuring charges incurred for the year ended December 31, 2024 include $4 million at Franchise Group, $15 million at Owned Brokerage Group, $1 million at Title Group and $12 million in Corporate and Other. Restructuring charges incurred for the year ended December 31, 2023 include $11 million at Franchise Group, $25 million at Owned Brokerage Group, $4 million at Title Group and $9 million in Corporate and Other.

See Note 14, "Restructuring Costs", to the Consolidated Financial Statements for additional information.

(c)Non-cash impairments for the year ended December 31, 2024 primarily related to leases and other assets. Non-cash impairments for the year ended December 31, 2023 include $25 million at Franchise Group to reduce goodwill related to Cartus, $25 million related to franchise trademarks and $15 million related to leases and other assets.

(d)Former parent legacy items are recorded in Corporate and Other and relate to a legacy tax matter.

(e)Represents changes in legal contingencies unrelated to normal operations which currently includes industry-wide antitrust lawsuits and class action lawsuits and includes $2 million in Corporate and Other for the year ended December 31, 2024 and $34 million and $9 million in Corporate and Other and Brokerage Group, respectively,