XML 69 R54.htm IDEA: XBRL DOCUMENT v3.23.3
Segment Information - Operating EBITDA (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Segment Reporting Information [Line Items]        
Operating EBITDA $ 107 $ 166 $ 181 $ 437
Depreciation and amortization 50 53 149 159
Interest expense, net 37 30 114 76
Income tax expense 45 8 7 52
Restructuring costs, net [1],[2] 9 16 40 23
Impairments [3] 3 3 11 3
Former parent legacy cost, net [4] 0 1 17 1
(Gain) loss on the early extinguishment of debt [4] (169) 0 (169) 92
Loss (gain) on the sale of businesses, investments or other assets, net [5] 3 0 2 (135)
Net income attributable to Anywhere and Anywhere Group 129 55 10 166
Corporate, Non-Segment        
Segment Reporting Information [Line Items]        
Operating EBITDA [6] (42) (44) (137) (104)
Restructuring costs, net 1 6 7 8
Franchise Group | Operating Segments        
Segment Reporting Information [Line Items]        
Operating EBITDA 155 202 416 544
Restructuring costs, net 2 2 8 4
Owned Brokerage Group | Operating Segments        
Segment Reporting Information [Line Items]        
Operating EBITDA (8) (1) (93) (30)
Restructuring costs, net 5 8 23 11
Title Group | Operating Segments        
Segment Reporting Information [Line Items]        
Operating EBITDA 2 $ 9 (5) $ 27
Restructuring costs, net $ 1   $ 2  
[1]
(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.
[2] Restructuring charges for the three months ended September 30, 2023 include $8 million of expense related to the Operational Efficiencies Plan and $1 million of expense related to prior restructuring plans. Restructuring charges for the nine months ended September 30, 2023 include $36 million of expense related to the Operational Efficiencies Plan and $4 million of expense related to prior restructuring plans. Restructuring charges for the three months ended September 30, 2022 include $10 million of expense related to the Operational Efficiencies Plan and $6 million of expense related to prior restructuring plans. Restructuring charges for the nine months ended September 30, 2022 include $10 million of expense related to the Operational Efficiencies Plan and $13 million of expense related to prior restructuring plans.
[3] Impairments primarily relate to non-cash lease asset and software impairments.
[4] 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.
[5] 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.
[6] Includes the elimination of transactions between segments.