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Consolidated Statements Of Operations - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues      
Revenues [1] $ 5,636 $ 6,908 $ 7,983 Close
Expenses      
Commission and other agent-related costs 3,664 4,415 4,753
Operating 1,147 1,377 1,669
Marketing 215 252 263
General and administrative 422 388 441
Former parent legacy cost, net [2] 18 1 1
Restructuring costs, net [3],[4] 49 32 17
Impairments [5] 65 483 4
Depreciation and amortization 196 214 204
Interest expense, net 151 113 190
(Gain) loss on the early extinguishment of debt [2] (169) 96 21
Other income, net 0 (140) (15)
Total expenses 5,758 7,231 7,548 CloseClose
(Loss) income before income taxes, equity in (earnings) losses and noncontrolling interests (122) (323) 435 CloseClose
Income tax (benefit) expense (15) (68) 133 CloseClose
Equity in (earnings) losses of unconsolidated entities (9) 28 (48) CloseClose
Net (loss) income (98) (283) 350 CloseClose
Less: Net loss (income) attributable to noncontrolling interests 1 (4) (7)
Net (loss) income attributable to Anywhere and Anywhere Group $ (97) $ (287) $ 343
(Loss) earnings per share attributable to Anywhere shareholders:      
Basic (loss) earnings per share $ (0.88) $ (2.52) $ 2.95
Diluted (loss) earnings per share $ (0.88) $ (2.52) $ 2.85
Weighted average common and common equivalent shares of Anywhere outstanding:      
Basic 110.3 113.8 116.4
Diluted 110.3 113.8 120.2
Gross Commission Income      
Revenues      
Revenues [6] $ 4,570 $ 5,538 $ 6,118
Service revenue      
Revenues      
Revenues [7] 569 793 1,180
Franchise fees      
Revenues      
Revenues [8] 351 417 521
Other      
Revenues      
Revenues [9] $ 146 $ 160 $ 164
[1] Transactions between segments are eliminated in consolidation. Revenues for Franchise Group include intercompany royalties and marketing fees paid by Owned Brokerage Group of $315 million, $373 million and $407 million for the years ended December 31, 2023, 2022 and 2021, respectively. Such amounts are eliminated through the Corporate and Other line.
[2] Former parent legacy items and (Gain) loss on the early extinguishment of debt are recorded in Corporate and Other. Former parent legacy cost in 2023 relates to developments in a legacy tax matter in the first quarter of 2023. Gain on the early extinguishment of debt in 2023 relates to the debt exchange transactions and open market repurchases that occurred during the third quarter of 2023. Loss on the early extinguishment of debt in 2022 primarily relates to the refinancing transactions that occurred during the first quarter of 2022.
[3] Restructuring charges for the year ended December 31, 2023 include $43 million of expense related to the Operational Efficiencies Plan and $6 million of expense related to prior restructuring plans. Restructuring charges for the year ended December 31, 2022 include $20 million of expense related to the Operational Efficiencies Plan and $12 million of expense related to prior restructuring plans. Restructuring charges for the year ended December 31, 2021 related to prior restructuring plans.
[4] The year ended December 31, 2023 includes restructuring charges of $11 million at Franchise Group, $25 million at Owned Brokerage Group, $4 million at Title Group and $9 million at Corporate and Other.
The year ended December 31, 2022 includes restructuring charges of $1 million at Franchise Group, $19 million at Owned Brokerage Group and $12 million at Corporate and Other.
The year ended December 31, 2021 includes restructuring charges of $5 million at Franchise Group, $7 million at Owned Brokerage Group and $5 million at Corporate and Other.
[5] 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.
Non-cash impairments for the year ended December 31, 2022 include $280 million and $114 million related to goodwill at Owned Brokerage Group and Franchise Group, respectively, $76 million related to franchise trademarks and $13 million related to leases and other assets including an investment.
Non-cash impairments for the year ended December 31, 2021 primarily related to leases and other assets.
[6] Gross commission income at Owned Brokerage Group is recognized at a point in time at the closing of a homesale transaction.
[7] 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 revenue at Franchise Group includes relocation fees, which are recognized as revenue when or as the related performance obligation is satisfied dependent on the type of service performed, and fees related to leads and related services, which are recognized at a point in time at the closing of a homesale transaction or at the completion of the related service.
[8] Franchise fees at Franchise Group primarily include domestic royalties which are recognized at a point in time when the underlying franchisee revenue is earned (upon close of the homesale transaction).
[9] Other revenue is comprised of brand marketing funds received from franchisees at Franchise Group and other miscellaneous revenues across all of the business segments.