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Segment Information
9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
The reportable segments presented below represent the Company’s segments for which separate financial information is available and which is utilized on a regular basis by its chief operating decision maker to assess performance and to allocate resources. In identifying its reportable segments, the Company also considers the nature of services provided by its segments.
Management evaluates the operating results of each of its reportable segments based upon revenue and Operating EBITDA. Operating EBITDA is defined by us as net income (loss) before depreciation and amortization, interest expense, net (other than relocation services interest for securitization assets and securitization obligations), income taxes, and other items that are not core to the operating activities of the Company such as restructuring charges, former parent legacy items, gains or losses on the early extinguishment of debt, impairments, gains or losses on discontinued operations and gains or losses on the sale of businesses, investments or other assets. The Company’s presentation of Operating EBITDA may not be comparable to similar measures used by other companies.
 Revenues (a)
 Three Months Ended September 30, Nine Months Ended September 30,
 2023202220232022
Franchise Group
$271 $306 $762 $912 
Owned Brokerage Group
1,309 1,486 3,604 4,525 
Title Group
93 113 265 447 
Corporate and Other (b)(89)(97)(245)(299)
Total Company$1,584 $1,808 $4,386 $5,585 
_______________ 
 
(a)Transactions between segments are eliminated in consolidation. Revenues for Franchise Group include intercompany royalties and marketing fees paid by Owned Brokerage Group of $89 million and $245 million for the three and nine months ended September 30, 2023, respectively, and $97 million and $299 million for the three and nine months ended September 30, 2022, respectively. Such amounts are eliminated through the Corporate and Other line.
(b)Includes the elimination of transactions between segments.
Set forth in the table below is Operating EBITDA presented by reportable segment and a reconciliation to Net income attributable to Anywhere and Anywhere Group for the three and nine months ended September 30, 2023 and 2022:
 Operating EBITDA
 Three Months Ended September 30, Nine Months Ended September 30,
 2023202220232022
Franchise Group
$155 $202 $416 $544 
Owned Brokerage Group
(8)(1)(93)(30)
Title Group
(5)27 
Corporate and Other (a)(42)(44)(137)(104)
Total Company$107 $166 $181 $437 
Less: Depreciation and amortization50 53 149 159 
Interest expense, net
37 30 114 76 
Income tax expense
45 52 
Restructuring costs, net (b)
16 40 23 
Impairments (c)
11 
Former parent legacy cost, net (d)— 17 
(Gain) loss on the early extinguishment of debt (d)
(169)— (169)92 
Loss (gain) on the sale of businesses, investments or other assets, net (e)
— (135)
Net income attributable to Anywhere and Anywhere Group
$129 $55 $10 $166 
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(a)Includes the elimination of transactions between segments.
(b)The three months ended September 30, 2023 includes restructuring charges of $2 million at Franchise Group, $5 million at Owned Brokerage Group, $1 million at Title Group and $1 million at Corporate and Other.
The three months ended September 30, 2022 includes restructuring charges of $2 million at Franchise Group, $8 million at Owned Brokerage Group and $6 million at Corporate and Other.
The nine months ended September 30, 2023 includes restructuring charges of $8 million at Franchise Group, $23 million at Owned Brokerage Group, $2 million at Title Group and $7 million at Corporate and Other.
The nine months ended September 30, 2022 includes restructuring charges of $4 million at Franchise Group, $11 million at Owned Brokerage Group and $8 million at Corporate and Other.
(c)Impairments primarily relate to non-cash lease asset and software impairments.
(d)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 recent 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 relates to the refinancing transactions that occurred during the first quarter of 2022.
(e)Loss (gain) on the sale of businesses, investments or other assets, net in 2022 is recorded in Title Group and is related to the sale of the Title Underwriter and subsequent sales of a portion of the Company's ownership in the Title Insurance Underwriter Joint Venture.