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Earnings (Loss) Per Share (Notes) | 6 Months Ended
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Jun. 30, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | EARNINGS (LOSS) PER SHARE Earnings (loss) per share attributable to Anywhere Basic earnings (loss) per common share is computed based on net income (loss) attributable to Anywhere stockholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per common share is computed consistently with the basic computation plus the effect of dilutive potential common shares outstanding during the period. Dilutive potential common shares include shares that the Company could be obligated to issue from its Exchangeable Senior Notes and warrants if dilutive (see Note 5, "Short and Long-Term Debt", for further discussion) and outstanding stock-based compensation awards. For purposes of computing diluted earnings (loss) per common share, weighted average common shares do not include potentially dilutive common shares if their effect is anti-dilutive. As such, the shares that the Company could be obligated to issue from its stock options, warrants and Exchangeable Senior Notes are excluded from the earnings (loss) per share calculation if the exercise or exchangeable price exceeds the average market price of common shares. The Company uses the treasury stock method to calculate the dilutive effect of outstanding stock-based compensation. If dilutive, the Company uses the if converted method to calculate the dilutive effect of its Exchangeable Senior Notes. These notes will have a dilutive impact when the average market price of the Company’s common stock exceeds the initial exchange price of $24.49 per share. The Exchangeable Senior Notes were not dilutive as of June 30, 2023 as the closing price of the Company's common stock as of June 30, 2023 was less than the initial exchange price. The f ollowing table sets forth the computation of basic and diluted earnings (loss) per share:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(In millions, except per share data) | 2023 |  | 2022 |  | 2023 |  | 2022
Numerator: |  |  |  |  |  |  |
Net income (loss) attributable to Anywhere shareholders | $ | 19 |  |  | $ | 88 |  |  | $ | (119) |  |  | $ | 111 |
Denominator: |  |  |  |  |  |  |
Weighted average common shares outstanding (denominator for basic earnings (loss) per share calculation) | 110.4 |  |  | 116.5 |  |  | 110.1 |  |  | 116.8 |
Dilutive effect of stock-based compensation awards (a) | 0.9 |  |  | 1.3 |  |  | — |  |  | 2.1 |
Dilutive effect of Exchangeable Senior Notes and warrants (b) | — |  |  | — |  |  | — |  |  | — |
Weighted average common shares outstanding (denominator for diluted earnings (loss) per share calculation) | 111.3 |  |  | 117.8 |  |  | 110.1 |  |  | 118.9 |
Earnings (loss) per share attributable to Anywhere shareholders:
Basic earnings (loss) per share | $ | 0.17 |  |  | $ | 0.76 |  |  | $ | (1.08) |  |  | $ | 0.95 |
Diluted earnings (loss) per share | $ | 0.17 |  |  | $ | 0.75 |  |  | $ | (1.08) |  |  | $ | 0.93 |
_______________ (a)The three months ended June 30, 2023, as well as three and six months ended June 30, 2022 exclude 6.6 million, 5.4 million and 4.7 million shares of common stock, respectively, issuable for incentive equity awards which includes performance share units based on the achievement of target amounts that are anti-dilutive to the diluted earnings per share computation. The Company was in a net loss position for the six months ended June 30, 2023 and therefore the impact of incentive equity awards was excluded from the computation of dilutive loss per share as the inclusion of such amounts would be anti-dilutive. (b)Shares to be provided to the Company from the exchangeable note hedge transactions purchased concurrently with its issuance of Exchangeable Senior Notes are anti-dilutive and therefore they are not treated as a reduction to its diluted shares.

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