Company: HOUS
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001398987-25-000108
Chunk: 18

Company: Anywhere Real Estate Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 18
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 at Title Group had an investment balance of $73 million at both June 30, 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 $38 million and $44 million at June 30, 2025 and December 31, 2024, respectively. The Company received $5 million in cash dividends from other equity method investments during the six months ended June 30, 2025. The Company received $6 million of proceeds which resulted in a $2 million gain on the sale of an equity method investment during the six months ended June 30, 2025.Sale of Equity Interest in Certain Title and Escrow EntitiesOn April 1, 2025, the Company consummated the sale of preferred equity representing 10% of the equity of entities containing the assets of certain of the Company's title and escrow entities (the "Preferred Equity") for an aggregate of $19 million to a subsidiary of the Title Insurance Underwriter Joint Venture. The purchaser also has a right to purchase the remaining 90% of the outstanding equity of those entities at the same valuation until the third anniversary of sale date. The Company will have the right to repurchase the Preferred Equity after the third anniversary and until the fifth anniversary of the sale date for $19 million plus dividends accruing at the rate of 6% per annum. After the fifth anniversary, if neither party has exercised their purchase right, the Company will be required to repurchase the Preferred Equity, thus creating a mandatorily redeemable financial instrument for the 10% non-controlling interest. The mandatorily redeemable interest for $19 million is recorded in Other non-current liabilities in the Company's Condensed Consolidated Balance Sheets.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 an expense of $9 million and $11 million for the three months 

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ended June 30, 2025 and 2024, respectively, and a benefit of $15 million and $17 million for the six months ended June 30, 2025 and 2024, respectively.RevenueRevenue is recognized upon the transfer of control of promised services to customers in an amount that reflects the consideration the Company