Company: HOUS
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001398987-25-000067
Chunk: 44

Company: Anywhere Real Estate Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 44
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 Title Insurance Underwriter Joint Venture at Title Group had an investment balance of $73 million at both March 31, 2025 and December 31, 2024.(c)The Company's various other equity method investments at Title Group and Brokerage Group had a total investment balance of $40 million and $44 million at March 31, 2025 and December 31, 2024, respectively. The Company received $3 million in cash dividends from other equity method investments during the first quarter of 2025.Income TaxesThe Company's provision for income taxes in interim periods is computed by applying its estimated annual effective tax rate against the income 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 $24 million and a benefit of $28 million for the three months ended March 31, 2025 and 2024, respectively.

12

RevenueRevenue is recognized upon the transfer of control of promised services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those services in accordance with the revenue accounting standard. The Company's revenue is disaggregated by major revenue categories on our Condensed Consolidated Statements of Operations and further disaggregated by business segment as follows:Three Months Ended March 31, Franchise GroupOwned Brokerage GroupTitle GroupCorporate and OtherTotal Company2025202420252024202520242025202420252024Gross commission income (a)$— $— $976 $907 $— $— $— $— $976 $907 Service revenue (b)45 46 5 4 75 69 — — 125 119 Franchise fees (c)138 131 — — — — (65)(61)73 70 Other (d)21 23 9 8 3 2 (3)(3)30 30 Net revenues$204 $200 $990 $919 $78 $71 $(68)$(64)$1,204 $1,126 ______________(a)Gross commission income at Owned Brokerage Group is recognized at a point in time at the closing of a homesale transaction.(b)Service revenue primarily consists of title and escrow fees at Title Group and are recognized at a point in time at the closing of a homesale transaction. Service