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Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues [Abstract]    
Net revenues [1] $ 1,126 $ 1,131 Close
Expenses    
Commission and other agent-related costs 726 723
Operating 273 286
Marketing 45 49
General and administrative 99 123
Former parent legacy cost, net [2] 1 16
Restructuring costs, net [3],[4] 11 25
Impairments [5] 6 4
Depreciation and amortization 55 50
Interest expense, net 39 38
Other income, net (1) (1)
Total expenses 1,254 1,313 Close
Loss before income taxes, equity in losses and noncontrolling interests (128) (182) Close
Income tax benefit (28) (46) Close
Equity in losses of unconsolidated entities 1 2 Close
Net loss (101) (138) Close
Less: Net income attributable to noncontrolling interests 0 0
Net loss attributable to Anywhere and Anywhere Group $ (101) $ (138)
Loss per share attributable to Anywhere shareholders:    
Basic loss per share $ (0.91) $ (1.26)
Diluted loss per share $ (0.91) $ (1.26)
Weighted average common and common equivalent shares of Anywhere outstanding:    
Basic 110.7 109.8
Diluted 110.7 109.8
Gross commission income    
Revenues [Abstract]    
Net revenues [6] $ 907 $ 903
Service revenue    
Revenues [Abstract]    
Net revenues [7] 119 127
Franchise fees    
Revenues [Abstract]    
Net revenues [8] 70 69
Other    
Revenues [Abstract]    
Net revenues [9] $ 30 $ 32
[1] Transactions between segments are eliminated in consolidation. Revenues for Franchise Group include intercompany royalties and marketing fees paid by Owned Brokerage Group of $64 million and $63 million for the three months ended March 31, 2024 and 2023, respectively. Such amounts are eliminated through the Corporate and Other line.
[2] Former parent legacy cost is recorded in Corporate and Other and relates to a legacy tax matter.
[3]
(b)The three months ended March 31, 2024 includes restructuring charges of $1 million at Franchise Group, $6 million at Owned Brokerage Group and $4 million at Corporate and Other. The three months ended March 31, 2023 includes restructuring charges of $6 million at Franchise Group, $14 million at Owned Brokerage Group and $5 million at Corporate and Other.
[4] Restructuring charges for the three months ended March 31, 2024 include $10 million of expense related to the Operational Efficiencies Plan and $1 million of expense related to prior restructuring plans. Restructuring charges for the three months ended March 31, 2023 include $23 million of expense related to the Operational Efficiencies Plan and $2 million of expense related to prior restructuring plans.
[5] Non-cash impairments 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.