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Short And Long-Term Debt Indebtedness Table (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Oct. 16, 2023
Jul. 24, 2023
Jul. 17, 2023
Dec. 31, 2022
Jan. 27, 2021
Principal Amount                  
Long-term debt principal amount $ 2,868   $ 2,868            
Securitization obligations 200   200         $ 163  
Unamortized Premium and Debt Issuance Costs                  
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net 24   24            
Net Amount                  
Outstanding borrowings, long-term debt 2,844   2,844            
Securitization obligations 200   $ 200         163  
SOFR                  
Net Amount                  
Description of variable interest rate basis     SOFR            
ABR                  
Net Amount                  
Description of variable interest rate basis     ABR            
Securitization obligation                  
Net Amount                  
Relocation receivables and other related relocation assets that collateralize securitization obligations 258   $ 258         206  
Interest Expense, Debt $ 3 $ 1 $ 6 $ 2          
Weighted average interest rate, securitization obligations 7.10% 3.30% 7.10% 3.30%          
Revolving Credit Facility | Line of Credit                  
Principal Amount                  
Line of credit facility outstanding $ 350 [1],[2],[3]   $ 350 [1],[2],[3]         350  
Net Amount                  
Outstanding borrowings, short-term debt, line of credit facility 350 [1],[2],[3]   350 [1],[2],[3]         350  
Total capacity, short-term debt, line of credit facility 1,100   1,100            
Line of credit facility outstanding 350 [1],[2],[3]   $ 350 [1],[2],[3]         350  
Revolving Credit Facility | Line of Credit | SOFR | Less than 2.00 to 1.00                  
Net Amount                  
Debt Instrument, Basis Spread on Variable Rate     1.75%            
Revolving Credit Facility | Line of Credit | ABR | Less than 2.00 to 1.00                  
Net Amount                  
Debt Instrument, Basis Spread on Variable Rate     0.75%            
Revolving Credit Facility | Letter of Credit                  
Principal Amount                  
Line of credit facility outstanding 36   $ 36            
Net Amount                  
Outstanding borrowings, short-term debt, line of credit facility 36   36            
Line of credit facility outstanding 36   36            
Revolving Credit Facility | Subsequent Event | Line of Credit                  
Principal Amount                  
Line of credit facility outstanding           $ 310      
Net Amount                  
Outstanding borrowings, short-term debt, line of credit facility           310      
Line of credit facility outstanding           310      
Revolving Credit Facility | Subsequent Event | Letter of Credit                  
Principal Amount                  
Line of credit facility outstanding           36      
Net Amount                  
Outstanding borrowings, short-term debt, line of credit facility           36      
Line of credit facility outstanding           $ 36      
Extended Term Loan A | Secured Debt                  
Principal Amount                  
Long-term debt principal amount 215 [4],[5]   215 [4],[5]         222 $ 237
Unamortized Premium and Debt Issuance Costs                  
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net [4],[5] 1   1            
Net Amount                  
Outstanding borrowings, long-term debt $ 214 [4],[5]   $ 214 [4],[5]         221  
Extended Term Loan A | Secured Debt | June 2021 to March 2022                  
Net Amount                  
Quarterly percentage of original principal amount for quarterly amortization payments 0.625%   0.625%            
Extended Term Loan A | Secured Debt | June 2022 to March 2023                  
Net Amount                  
Quarterly percentage of original principal amount for quarterly amortization payments 1.25%   1.25%            
Extended Term Loan A | Secured Debt | June 2023 to March 2024                  
Net Amount                  
Quarterly percentage of original principal amount for quarterly amortization payments 1.875%   1.875%            
Extended Term Loan A | Secured Debt | June 2024 and thereafter                  
Net Amount                  
Quarterly percentage of original principal amount for quarterly amortization payments 2.50%   2.50%            
Extended Term Loan A | Line of Credit | SOFR | Less than 2.00 to 1.00                  
Net Amount                  
Debt Instrument, Basis Spread on Variable Rate     1.75%            
Extended Term Loan A | Line of Credit | ABR | Less than 2.00 to 1.00                  
Net Amount                  
Debt Instrument, Basis Spread on Variable Rate     0.75%            
5.75% Senior Notes | Senior Notes                  
Principal Amount                  
Long-term debt principal amount $ 900 [6]   $ 900 [6]         900  
Unamortized Premium and Debt Issuance Costs                  
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net [6] 1   1            
Net Amount                  
Outstanding borrowings, long-term debt $ 899 [6]   $ 899 [6]         899  
Debt Instrument, Interest Rate, Stated Percentage 5.75%   5.75%            
5.25% Senior Notes | Senior Notes                  
Principal Amount                  
Long-term debt principal amount $ 1,000 [6]   $ 1,000 [6]         1,000  
Unamortized Premium and Debt Issuance Costs                  
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net [6] 15   15            
Net Amount                  
Outstanding borrowings, long-term debt $ 985 [6]   $ 985 [6]         985  
Debt Instrument, Interest Rate, Stated Percentage 5.25%   5.25%            
0.25% Exchangeable Senior Notes | Convertible Debt                  
Principal Amount                  
Long-term debt principal amount $ 403   $ 403         403  
Unamortized Premium and Debt Issuance Costs                  
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net 7   7            
Net Amount                  
Outstanding borrowings, long-term debt $ 396   $ 396         394  
Debt Instrument, Interest Rate, Stated Percentage 0.25%   0.25%            
Apple Ridge Funding LLC | Securitization obligation                  
Principal Amount                  
Securitization obligations $ 200 [7]   $ 200 [7]         163  
Net Amount                  
Securitization obligations 200 [7]   200 [7]         $ 163  
Total capacity, securitization obligations 200   200            
Debt Instrument, Unused Borrowing Capacity, Amount $ 0   $ 0            
Apple Ridge Funding LLC | Subsequent Event | Securitization obligation                  
Net Amount                  
Total capacity, securitization obligations         $ 200   $ 215    
[1] As of June 30, 2023, the Company had $1,100 million of borrowing capacity under its Revolving Credit Facility. As of June 30, 2023, there were $350 million of outstanding borrowings under the Revolving Credit Facility and $36 million of outstanding undrawn letters of credit. On July 24, 2023, the Company had $310 million of outstanding borrowings under the Revolving Credit Facility and $36 million of outstanding undrawn letters of credit.
[2] Interest rates with respect to revolving loans under the Revolving Credit Facility at June 30, 2023 are based on, at the Company's option, (a) a term Secured Overnight Financing Rate ("SOFR")-based rate including a 10 basis point credit spread adjustment or (b) JP Morgan Chase Bank, N.A.'s prime rate ("ABR") plus (in each case) an additional margin subject to adjustment based on the then current senior secured leverage ratio. Based on the previous quarter's senior secured leverage ratio, the SOFR margin was 1.75% and the ABR margin was 0.75% for the three months ended June 30, 2023.
[3] The maturity date of the Revolving Credit Facility may spring forward to a date prior to July 2027 as follows: (i) if on or before March 16, 2026, the 0.25% Exchangeable Senior Notes have not been extended, refinanced or replaced to have a maturity date after October 26, 2027 (or are not otherwise discharged, defeased or repaid by March 16, 2026), the maturity date of the Revolving Credit Facility will be March 16, 2026; and (ii) if on or before November 9, 2024, the "term A loans" under the Term Loan A Agreement have not been extended, refinanced or replaced to have a maturity date after October 26, 2027 (or are not otherwise repaid by November 9, 2024), the maturity date of the Revolving Credit Facility will be November 9, 2024.
[4] In May 2023, the Company entered into an amendment to the Term Loan Agreement which replaced London Interbank Offering Rate ("LIBOR") with a Term SOFR-based rate as the applicable benchmark for the Term Loan A Facility (the applicable margin for the Term Loan A Facility remained the same, but the term SOFR-based rate includes a 10 basis points credit spread adjustment). Interest rates with respect to outstanding borrowings under the Extended Term Loan A at June 30, 2023 are based on, at the Company's option, (a) a term SOFR-based rate including a 10 basis point credit spread adjustment or (b) ABR plus (in each case) an additional margin subject to adjustment based on the then current senior secured leverage ratio. Based on the previous quarter's senior secured leverage ratio, the SOFR margin was 1.75% and the ABR margin was 0.75% for the three months ended June 30, 2023.
[5] The Extended Term Loan A has quarterly amortization payments equal to a percentage per quarter of the original principal amount of $237 million, as follows: 0.625% per quarter from June 30, 2021 to March 31, 2022; 1.25% per quarter from June 30, 2022 to March 31, 2023; 1.875% per quarter from June 30, 2023 to March 31, 2024; and 2.50% per quarter for periods ending on or after June 30, 2024, with the balance of the Extended Term Loan A due at maturity on February 8, 2025.
[6] See Note 11, "Subsequent Events" for additional information with respect to the debt exchange transactions.
[7] In June 2023, Anywhere Group extended the existing Apple Ridge Funding LLC securitization program until the end of May 2024. Under the Apple Ridge Funding LLC securitization program, the Company had $200 million of borrowing capacity as of June 30, 2023. The securitization program includes a seasonal increase provision which allows for a temporary increase to $215 million of borrowing capacity from July 17 to October 15 of 2023 only, at which time it reverts back to $200 million of borrowing capacity. As of June 30, 2023, the Company had $200 million of borrowing capacity under the Apple Ridge Funding LLC securitization program with $200 million being utilized leaving no available capacity subject to maintaining sufficient relocation related assets to collateralize the securitization obligation. Certain of the funds that Anywhere Group receives from relocation receivables and related assets are required to be utilized to repay securitization obligations. These obligations are collateralized by $258 million and $206 million of underlying relocation receivables and other related relocation assets at June 30, 2023 and December 31, 2022, respectively. Substantially all relocation related assets are realized in less than twelve months from the transaction date. Accordingly, all of Anywhere Group's securitization obligations are classified as current in the accompanying Condensed Consolidated Balance Sheets. Interest incurred in connection with borrowings under the facility amounted to $3 million and $1 million for the three months ended June 30, 2023 and 2022, respectively, as well as $6 million and $2 million for the six months ended June 30, 2023 and 2022, respectively. This interest is recorded within net revenues in the accompanying Condensed Consolidated Statements of Operations as related borrowings are utilized to fund Anywhere Group's relocation operations where interest is generally earned on such assets. The securitization obligations represent floating rate debt for which the average weighted interest rate was 7.1% and 3.3% for the six months ended June 30, 2023 and 2022, respectively.