ANYWHERE REAL ESTATE INC. REPORTS THIRD QUARTER 2022 FINANCIAL RESULTS – MRG Financial Consultancy & Training Services

MADISON, N.J., Oct. 27, 2022 /PRNewswire/ — Anyplace Actual Property Inc. (NYSE: HOUS) (“Anyplace” or the “Firm”), a world chief in residential actual property companies, right now reported monetary outcomes for the quarter ended September 30, 2022.

“Within the third quarter Anyplace delivered significant profitability, even with an more and more difficult housing backdrop,” stated Ryan Schneider, Anyplace president and CEO. “I consider Anyplace is well-positioned to guide by means of the present surroundings and into the long run as we proceed to strategically make investments to develop our core enterprise and simplify the buyer expertise.”

“We’re on target this yr to understand our value financial savings goal, proactively redeem our 2023 debt maturities, and combine our brokerage and title operations, all of which strengthen the inspiration of our enterprise and enhance our value foundation,” stated Charlotte Simonelli, Anyplace govt vp, chief monetary officer, and treasurer. “Our third quarter’s outcomes demonstrated our revenue supply even in a difficult a part of housing market.”

Third Quarter 2022 Highlights

Generated Income of $1.Eight billion, a lower of 17% year-over-year, largely impacted by decrease homesale transaction quantity and the absence of $99 million of income at Title Group as a result of sale of the Title Insurance coverage Underwriter in the course of the first quarter of 2022.
Reported Web earnings of $55 million, a lower of $59 million vs. prior yr, and fundamental earnings per share of $0.49.
Generated Working EBITDA of $166 million, a lower of $107 million year-over-year (See Desk 5a), primarily on account of decrease homesale transaction quantity and a rise in authorized accruals.
On observe to ship the beforehand dedicated everlasting and momentary value financial savings of $140 million and elevated the total yr financial savings goal to $150 million.
Generated Free Money Circulate of $99 million vs. $282 million for the corresponding quarter final yr (See Desk 7).
Mixed closed transaction quantity decreased 17% year-over-year.
Anyplace Advisors agent rely grew 7% year-over-year on a like for like foundation, the ninth consecutive quarter of sequential development, and continued to take care of robust retention ranges.
At September 30, 2022, our Senior Secured Leverage Ratio was 0.02x (See Desk 8a) and Web Debt Leverage Ratio was 3.8x (See Desk 8b).
On October 18, 2022, the Firm issued a discover of redemption to redeem on November 17, 2022 the entire $340 million of its excellent 4.875% Senior Notes due 2023.
Acknowledged by Forbes journal as one of many World’s Greatest Employers for the second consecutive yr.

Third Quarter 2022 Monetary Highlights

The next desk units forth the Firm’s monetary highlights for the durations offered (in hundreds of thousands, besides per share knowledge) (unaudited):

	Three Months Ended September 30,
	2022	2021	Change	% Change
Income	$ 1,808	$ 2,186	$ (378)	(17) %
Working EBITDA 1	166	273	(107)	(39)
Web earnings attributable to Anyplace	55	114	(59)	(52)
Adjusted web earnings 2	66	120	(54)	(45)
Earnings per share	0.49	0.98	(0.49)	(50)
Adjusted earnings per share 2	0.59	1.03	(0.44)	(43)
Free Money Circulate 3	99	282	(183)	(65)
Web money supplied by working actions	$ 134	$ 303	$ (169)	(56) %

Choose Key Drivers
Franchise Group Four 5
Closed homesale sides	243,494	316,195		(23) %
Common homesale value	$ 449,313	$ 427,052		5 %
Owned Brokerage Group5
Closed homesale sides	86,022	101,536		(15) %
Common homesale value	$ 681,387	$ 662,006		3 %
Title Group
Buy title and shutting models	35,045	45,011		(22) %
Refinance title and shutting models	3,339	12,140		(72) %

_______________

Footnotes:

1	See Tables 5a and 5b. Working EBITDA is outlined as web earnings (loss) earlier than depreciation and amortization, curiosity expense, web (aside from relocation companies curiosity for securitization belongings and securitization obligations), earnings taxes, and different objects that aren’t core to the working actions of the Firm resembling restructuring costs, former guardian legacy objects, beneficial properties or losses on the early extinguishment of debt, impairments, beneficial properties or losses on discontinued operations and beneficial properties or losses on the sale of companies, investments or different belongings.
2	See Desk 1a. Adjusted Web earnings (loss) is outlined as web earnings (loss) earlier than mark-to-market rate of interest swap changes, former guardian legacy objects, restructuring costs, (acquire) loss on the early extinguishment of debt, impairments, (acquire) loss on the sale of companies, investments or different belongings and the tax impact of the foregoing changes. Adjusted earnings (loss) per share is Adjusted web earnings (loss) divided by the weighted common widespread and customary equal shares excellent.
3	See Desk 7. Free Money Circulate is outlined as web earnings (loss) attributable to Anyplace earlier than earnings tax expense (profit), earnings tax funds, web curiosity expense, money curiosity funds, depreciation and amortization, capital expenditures, restructuring prices and former guardian legacy prices (advantages), web of funds, impairments, (acquire) loss on the sale of companies, investments or different belongings, (acquire) loss on the early extinguishment of debt, working capital changes and relocation receivables (belongings), web of change in securitization obligations.
4	Consists of all franchisees aside from Owned Brokerage Group.
5	The Firm’s mixed homesale transaction quantity development (transaction sides multiplied by common sale value) decreased 17% in contrast with the third quarter of 2021.

2022 Monetary Estimates

The Firm’s earlier estimate of Working EBITDA for full yr 2022 had been within the vary of $600 to $700 million, which was based mostly on an estimated decline in projected year-over-year homesale transaction quantity within the vary of (10)% to (20)% within the second half of 2022.

The Firm now estimates year-over-year declines in homesale transaction quantity of over 25% within the fourth quarter of 2022.

Primarily based off this decrease estimated quantity, the Firm doesn’t consider it is going to obtain the low finish of its prior estimate of Working EBITDA for full yr 2022 and isn’t offering a revised estimate in mild of the present excessive diploma of macroeconomic volatility, specifically with respect to components impacting the residential actual property business.

Stability Sheet and Capital Allocation

The Firm ended the quarter with money and money equivalents of $272 million. Whole company debt, together with the short-term portion, web of money and money equivalents (web company debt), totaled $2.6 billion at September 30, 2022. The Firm’s Web Debt Leverage Ratio was 3.8x at September 30, 2022 (see Desk 8b).

Throughout the third quarter of 2022, the Firm used money available to repurchase $7 million of its 4.875% Senior Notes due 2023 in open market purchases at roughly par worth, plus accrued curiosity to the repurchase date. As of September 30th, $340 million of its 4.875% Senior Notes due 2023 stay excellent. On October 18, 2022, the Firm issued a discover of redemption to redeem on November 17, 2022 the entire $340 million of its excellent 4.875% Senior Notes due 2023 utilizing borrowings beneath its Revolving Credit score Facility and money available. For the three months ended September 30, 2022, the Firm repurchased and retired 4.9 million shares of widespread inventory for $52 million. As of September 30, 2022, $203 million remained out there for repurchase beneath the share repurchase program.

A consolidated stability sheet is included as Desk 2 of this press launch.

Investor Convention Name

Right now, October 27, at 8:30 a.m. (ET), Anyplace will maintain a convention name through webcast to evaluation its Q3 2022 outcomes and supply a enterprise replace. The webcast will probably be hosted by Ryan Schneider, chief govt officer and president, and Charlotte Simonelli, chief monetary officer, and can conclude with an investor Q&A interval with administration.

Buyers could entry the convention name reside through webcast at ir.anyplace.re or by dialing (888) 330-3077 (toll free); worldwide individuals ought to dial (646) 960-0674. Please dial in not less than 5 to 10 minutes prior to begin time. A webcast replay additionally will probably be out there on the web site.

About Anyplace Actual Property Inc.

Anyplace Actual Property Inc. (NYSE: HOUS) is transferring the true property business to what’s subsequent. A pacesetter of built-in residential actual property companies within the U.S., Anyplace contains franchise, brokerage, relocation, and title and settlement companies in addition to a mortgage three way partnership, supporting roughly 1.5 million dwelling transactions in 2021. The various Anyplace model portfolio contains a number of the most acknowledged names in actual property: Higher Properties and Gardens® Actual Property, CENTURY 21®, Coldwell Banker®, Coldwell Banker Business®, Corcoran®, ERA®, and Sotheby’s Worldwide Realty®. Utilizing revolutionary expertise, knowledge and advertising and marketing merchandise, high-quality lead era packages, and best-in-class studying and assist companies, Anyplace fuels the productiveness of its roughly 198,900 impartial gross sales brokers within the U.S. and roughly 142,500 impartial gross sales brokers in 118 different international locations and territories, serving to them construct stronger companies and finest serve right now’s shoppers. Acknowledged for eleven consecutive years as one of many World’s Most Moral Firms, Anyplace has additionally been designated a Nice Place to Work 4 years in a row, named one in every of  LinkedIn’s 2021 High Firms within the U.S., and honored on the Forbes record of World’s Greatest Employers 2022.

Ahead-Trying Statements

Sure statements on this press launch represent “forward-looking statements,” together with the data showing beneath 2022 Monetary Estimates. Such forward-looking statements contain recognized and unknown dangers, uncertainties and different components which can trigger the precise outcomes, efficiency or achievements of Anyplace Actual Property Inc. to be materially completely different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking statements. Statements preceded by, adopted by or that in any other case embrace the phrases “believes”, “expects”, “anticipates”, “intends”, “tasks”, “estimates”, “potential” and “plans” and comparable expressions or future or conditional verbs resembling “will”, “ought to”, “would”, “could” and “might” are typically forward-looking in nature and never historic info. Any statements that check with expectations or different characterizations of future occasions, circumstances or outcomes are forward-looking statements.

The next embrace some, however not all, of the components that would have an effect on our future outcomes and trigger precise outcomes to vary materially from these expressed within the forward-looking statements: opposed developments or the absence of sustained enchancment within the U.S. residential actual property markets, both regionally or nationally, which might embrace, however are usually not restricted to components that influence homesale transaction quantity, resembling: continued or accelerated declines in dwelling gross sales, stagnant or declining dwelling costs, continued or accelerated will increase in mortgage charges, continued or accelerated declines in housing affordability, client demand or stock, or extreme stock; opposed developments or the absence of sustained enchancment in macroeconomic situations (resembling enterprise, financial or political situations) on a world, home or native foundation, which might embrace, however are usually not restricted to contraction or stagnation within the U.S. financial system and continued or accelerated will increase in inflation; opposed developments or outcomes in present or future litigation, specifically pending antitrust litigation and litigation associated to the Phone Client Safety Act (TCPA); business construction adjustments that disrupt the functioning of the residential actual property market; the influence of evolving aggressive and client dynamics, together with that the Firm’s share of the fee earnings generated by homesale transactions could proceed to shift to affiliated impartial gross sales brokers or in any other case erode on account of market components and our means to compete in opposition to conventional and non-traditional opponents; our means to execute our enterprise technique and obtain development, together with with respect to the recruitment and retention of productive impartial gross sales brokers, attraction and retention of franchisees and improvement or procurement of merchandise, companies and expertise that assist our strategic initiatives; dangers associated to our substantial indebtedness and our means, and any actions we could take, to refinance, restructure or repay our indebtedness; our means to understand the anticipated advantages from our present or future joint ventures or strategic partnerships; opposed impacts from the COVID-19 disaster or different pandemics or epidemics; dangers associated to our enterprise construction, together with our geographic and high-end market focus, the working outcomes of our affiliated franchisees, and dangers associated to a lack of our largest actual property profit program; disruption within the residential actual property brokerage business associated to itemizing aggregator market energy and focus; our failure or alleged failure to adjust to legal guidelines, laws and regulatory interpretations and any adjustments or stricter interpretations of any of the foregoing, together with however not restricted to (1) antitrust legal guidelines and laws, (2) the Actual Property Settlement Procedures Act or different federal or state client safety or comparable legal guidelines, (3) state or federal employment legal guidelines or laws that will require reclassification of impartial contractor gross sales brokers to worker standing, (4) the TCPA, and (5) privateness or knowledge safety legal guidelines and laws; cybersecurity incidents; impairment of our goodwill and different long-lived belongings; the accuracy of market forecasts and estimates; and vital fluctuation within the value of our widespread inventory.

Consideration needs to be given to the areas of threat described above, in addition to these dangers set forth beneath the headings “Ahead-Trying Statements,” “Danger Components” and “Authorized Proceedings” in our filings with the Securities and Change Fee, together with our Quarterly Report on Type 10-Q for the quarters ended March 31, 2022 and June 30, 2022 and our Annual Report on Type 10-Okay for the yr ended December 31, 2021, and our different filings made infrequently, in reference to contemplating any forward-looking statements that could be made by us and our companies typically. We undertake no obligation to launch publicly any revisions to any forward-looking statements, to report occasions or to report the incidence of unanticipated occasions besides as required by legislation.

Non-GAAP Monetary Measures

This launch contains sure non-GAAP monetary measures as outlined beneath SEC guidelines. As required by SEC guidelines, vital data concerning such measures is contained within the Tables hooked up to this launch. See Tables 1a, 8a, 8b and 9 for definitions of those non-GAAP monetary measures and Tables 1a, 5a, 5b, 6a, 6b, 7, 8a and 8b for reconciliations of the historic non-GAAP monetary measures to their most comparable GAAP phrases.

Desk 1

ANYWHERE REAL ESTATE INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In hundreds of thousands, besides per share knowledge) (Unaudited)

	Three Months Ended September 30,		9 Months Ended September 30,
	2022	2021	2022	2021
Revenues
Gross fee earnings	$ 1,469	$ 1,689	$ 4,473	$ 4,616
Service income	189	315	652	878
Franchise charges	114	139	338	391
Different	36	43	122	124
Web revenues	1,808	2,186	5,585	6,009
Bills
Fee and different agent-related prices	1,170	1,309	3,560	3,567
Working	320	424	1,082	1,230
Advertising and marketing	59	69	195	193
Normal and administrative	92	120	297	324
Former guardian legacy value, web	1	—	1	1
Restructuring prices, web	16	4	23	14
Impairments	3	1	3	3
Depreciation and amortization	53	50	159	152
Curiosity expense, web	30	52	76	147
Loss on the early extinguishment of debt	—	3	92	21
Different (earnings) loss, web	(2)	1	(140)	(17)
Whole bills	1,742	2,033	5,348	5,635
Earnings earlier than earnings taxes, fairness in losses (earnings) and noncontrolling pursuits	66	153	237	374
Earnings tax expense	8	48	52	125
Fairness in losses (earnings) of unconsolidated entities	2	(11)	16	(52)
Web earnings	56	116	169	301
Much less: Web earnings attributable to noncontrolling pursuits	(1)	(2)	(3)	(5)
Web earnings attributable to Anyplace	$ 55	$ 114	$ 166	$ 296

Earnings per share attributable to Anyplace shareholders:
Primary earnings per share	$ 0.49	$ 0.98	$ 1.44	$ 2.55
Diluted earnings per share	$ 0.48	$ 0.95	$ 1.42	$ 2.46
Weighted common widespread and customary equal shares of Anyplace excellent:
Primary	112.2	116.6	115.3	116.3
Diluted	113.5	120.3	117.0	120.2

Desk 1a

ANYWHERE REAL ESTATE INC.
NON-GAAP RECONCILIATION
ADJUSTED NET INCOME AND ADJUSTED EARNINGS PER SHARE
(In hundreds of thousands, besides per share knowledge)

We current Adjusted web earnings and Adjusted earnings per share as a result of we consider these measures are helpful as supplemental measures in evaluating the efficiency of our working companies and supply higher transparency into our working outcomes.

Adjusted web earnings (loss) is outlined by us as web earnings (loss) earlier than: (a) mark-to-market rate of interest swap changes, whose honest worth is topic to actions in LIBOR and the ahead yield curve and subsequently are topic to vital fluctuations; (b) former guardian legacy objects, which pertain to liabilities of the previous guardian for issues previous to mid-2006 and are non-operational in nature; (c) restructuring costs because of initiatives at present in progress; (d) impairments; (e) the (acquire) loss on the early extinguishment of debt that outcomes from refinancing and deleveraging debt initiatives; (f) the (acquire) loss on the sale of companies, investments or different belongings and (g) the tax impact of the foregoing changes. The gross quantities for this stuff in addition to the adjustment for earnings taxes are proven within the desk under.

Commencing within the first quarter of 2022, the Firm revised its method to Adjusted web earnings to exclude the influence of the sale of companies, investments or different belongings. Adjusted web earnings for the three and 9 months ended September 30, 2021 have been revised to mirror this transformation.

Adjusted earnings (loss) per share is Adjusted web earnings (loss) divided by the weighted common widespread and customary equal shares excellent.

Set forth within the desk under is a reconciliation of Web earnings to Adjusted web earnings for the three and 9 months ended September 30, 2022 and 2021:

	Three Months Ended September 30,		9 Months Ended September 30,
	2022	2021	2022	2021
Web earnings attributable to Anyplace	$ 55	$ 114	$ 166	$ 296
Addback:
Mark-to-market rate of interest swap beneficial properties	(5)	(1)	(40)	(8)
Former guardian legacy value, web	1	—	1	1
Restructuring prices, web	16	4	23	14
Impairments	3	1	3	3
Loss on the early extinguishment of debt	—	3	92	21
Loss (acquire) on the sale of companies, investments or different belongings, web	—	1	(135)	(14)
Changes for tax impact (a)	(4)	(2)	15	(5)
Adjusted web earnings attributable to Anyplace	$ 66	$ 120	$ 125	$ 308

Earnings per share attributable to Anyplace:
Primary earnings per share:	$ 0.49	$ 0.98	$ 1.44	$ 2.55
Diluted earnings per share:	$ 0.48	$ 0.95	$ 1.42	$ 2.46

Adjusted earnings per share attributable to Anyplace:
Adjusted fundamental earnings per share:	$ 0.59	$ 1.03	$ 1.08	$ 2.65
Adjusted diluted earnings per share:	$ 0.58	$ 1.00	$ 1.07	$ 2.56

Weighted common widespread and customary equal shares excellent:
Primary:	112.2	116.6	115.3	116.3
Diluted:	113.5	120.3	117.0	120.2

_______________

(a)	Displays tax impact of changes on the Firm’s blended state and federal statutory charge.

Desk 2

ANYWHERE REAL ESTATE INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In hundreds of thousands, besides share knowledge) (Unaudited)

	September 30, 2022	December 31, 2021
ASSETS
Present belongings:
Money and money equivalents	$ 272	$ 735
Restricted money	5	8
Commerce receivables (web of allowance for uncertain accounts of $11 for each durations offered)	165	123
Relocation receivables	248	139
Different present belongings	223	183
Whole present belongings	913	1,188
Property and gear, web	323	310
Working lease belongings, web	447	453
Goodwill	2,916	2,923
Logos	687	687
Franchise agreements, web	971	1,021
Different intangibles, web	156	171
Different non-current belongings	600	457
Whole belongings	$ 7,013	$ 7,210
LIABILITIES AND EQUITY
Present liabilities:
Accounts payable	$ 163	$ 130
Securitization obligations	169	118
Present portion of long-term debt	354	10
Present portion of working lease liabilities	125	128
Accrued bills and different present liabilities	531	666
Whole present liabilities	1,342	1,052
Lengthy-term debt	2,486	2,940
Lengthy-term working lease liabilities	403	417
Deferred earnings taxes	341	353
Different non-current liabilities	225	256
Whole liabilities	4,797	5,018
Commitments and contingencies
Fairness:
Anyplace most well-liked inventory: $0.01 par worth; 50,000,000 shares licensed, none issued and excellent at September 30, 2022 and December 31, 2021	—	—
Anyplace widespread inventory: $0.01 par worth; 400,000,000 shares licensed, 109,470,581 shares issued and excellent at September 30, 2022 and 116,588,430 shares issued and excellent at December 31, 2021	1	1
Extra paid-in capital	4,803	4,947
Amassed deficit	(2,541)	(2,712)
Amassed different complete loss	(50)	(50)
Whole stockholders’ fairness	2,213	2,186
Noncontrolling pursuits	3	6
Whole fairness	2,216	2,192
Whole liabilities and fairness	$ 7,013	$ 7,210

Desk 3

ANYWHERE REAL ESTATE INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In hundreds of thousands) (Unaudited)

	9 Months Ended September 30,
	2022	2021
Working Actions
Web earnings	$ 169	$ 301
Changes to reconcile web earnings to web money (utilized in) supplied by working actions:
Depreciation and amortization	159	152
Deferred earnings taxes	6	76
Impairments	3	3
Amortization of deferred financing prices and debt low cost (premium)	7	12
Loss on the early extinguishment of debt	92	21
Achieve on the sale of companies, investments or different belongings, web	(135)	(14)
Fairness in losses (earnings) of unconsolidated entities	16	(52)
Inventory-based compensation	20	21
Mark-to-market changes on derivatives	(40)	(8)
Different changes to web earnings	(3)	(2)
Web change in belongings and liabilities, excluding the influence of acquisitions and tendencies:
Commerce receivables	(44)	(13)
Relocation receivables	(112)	(46)
Different belongings	(50)	(12)
Accounts payable, accrued bills and different liabilities	(139)	32
Dividends acquired from unconsolidated entities	2	49
Different, web	(22)	(31)
Web money (utilized in) supplied by working actions	(71)	489
Investing Actions
Property and gear additions	(83)	(71)
Funds for acquisitions, web of money acquired	(17)	(3)
Web proceeds from the sale of companies	63	15
Funding in unconsolidated entities	(18)	(7)
Proceeds from the sale of investments in unconsolidated entities	13	—
Different, web	17	(2)
Web money utilized in investing actions	(25)	(68)
Financing Actions
Repayments of Time period Mortgage A Facility and Time period Mortgage B Facility	—	(1,490)
Proceeds from issuance of Senior Notes	1,000	905
Redemption of Senior Secured Second Lien Notes	(550)	—
Redemption of Senior Notes	(550)	—
Repurchase of Senior Notes	(67)	—
Proceeds from issuance of Exchangeable Senior Notes	—	403
Funds for buy of Exchangeable Senior Notes hedge transactions	—	(67)
Proceeds from issuance of Exchangeable Senior Notes warrant transactions	—	46
Amortization funds on time period mortgage services	(7)	(8)
Web change in securitization obligations	51	40
Debt issuance prices	(22)	(20)
Money paid for charges related to early extinguishment of debt	(80)	(11)
Repurchase of widespread inventory	(97)	—
Taxes paid associated to web share settlement for stock-based compensation	(16)	(9)
Different, web	(29)	(27)
Web money utilized in financing actions	(367)	(238)
Impact of adjustments in trade charges on money, money equivalents and restricted money	(3)	—
Web (lower) enhance in money, money equivalents and restricted money	(466)	183
Money, money equivalents and restricted money, starting of interval	743	523
Money, money equivalents and restricted money, finish of interval	$ 277	$ 706

Supplemental Disclosure of Money Circulate Data
Curiosity funds (together with securitization curiosity of $Four and $Three respectively)	$ 123	$ 121
Earnings tax funds, web	61	32

Desk 4a


ANYWHERE REAL ESTATE INC. 2022 vs. 2021 KEY DRIVERS

	Three Months Ended September 30,			9 Months Ended September 30,
	2022	2021	% Change	2022	2021	% Change
Anyplace Manufacturers – Franchise Group (a)
Closed homesale sides	243,494	316,195	(23) %	724,858	881,356	(18) %
Common homesale value	$ 449,313	$ 427,052	5 %	$ 458,767	$ 419,223	9 %
Common homesale dealer fee charge	2.43 %	2.44 %	(1) bps	2.43 %	2.46 %	(3) bps
Web royalty per facet	$ 422	$ 401	5 %	$ 429	$ 402	7 %
Anyplace Advisors – Owned Brokerage Group
Closed homesale sides	86,022	101,536	(15) %	253,422	280,474	(10) %
Common homesale value	$ 681,387	$ 662,006	3 %	$ 708,719	$ 654,113	8 %
Common homesale dealer fee charge	2.40 %	2.42 %	(2) bps	2.40 %	2.43 %	(3) bps
Gross fee earnings per facet	$ 17,070	$ 16,633	3 %	$ 17,649	$ 16,457	7 %
Anyplace Built-in Providers – Title Group
Buy title and shutting models (b)	35,045	45,011	(22) %	107,395	123,076	(13) %
Refinance title and shutting models (c)	3,339	12,140	(72) %	16,119	45,676	(65) %
Common price per closing unit (d)	$ 3,127	$ 2,801	12 %	$ 3,149	$ 2,632	20 %

_______________

(a)	Consists of all franchisees aside from Owned Brokerage Group.
(b)	Buy title and shutting models for the three and 9 months ended September 30, 2021 had been revised to mirror a lower of 1,993 and 5,131 models, respectively. The change was for the variety of models solely and didn’t influence income.
(c)	Refinance title and shutting models for the three and 9 months ended September 30, 2021 had been revised to mirror a lower of 696 and a pair of,099 models, respectively. The change was for the variety of models solely and didn’t influence income.
(d)	With the change in models famous above, Common price per closing unit for the three and 9 months ended September 30, 2021 was up to date to mirror a rise of $126 and $108 per closing unit, respectively.

Desk 4b

ANYWHERE REAL ESTATE INC. 2021 KEY DRIVERS

	Quarter Ended				12 months Ended
	March 31, 2021	June 30, 2021	September 30, 2021	December 31, 2021	December 31, 2021
Anyplace Manufacturers – Franchise Group (a)
Closed homesale sides	244,698	320,463	316,195	281,680	1,163,036
Common homesale value	$ 394,000	$ 430,756	$ 427,052	$ 440,751	$ 424,436
Common homesale dealer fee charge	2.47 %	2.46 %	2.44 %	2.43 %	2.45 %
Web royalty per facet	$ 382	$ 418	$ 401	$ 421	$ 406
Anyplace Advisors – Owned Brokerage Group
Closed homesale sides	74,993	103,945	101,536	90,661	371,135
Common homesale value	$ 608,960	$ 678,978	$ 662,006	$ 667,188	$ 657,307
Common homesale dealer fee charge	2.43 %	2.43 %	2.42 %	2.41 %	2.42 %
Gross fee earnings per facet	$ 15,393	$ 17,053	$ 16,633	$ 16,573	$ 16,486
Anyplace Built-in Providers – Title Group
Buy title and shutting models (b)	32,502	45,563	45,011	40,111	163,187
Refinance title and shutting models (c)	19,806	13,730	12,140	10,999	56,675
Common price per closing unit (d)	$ 2,348	$ 2,720	$ 2,801	$ 2,962	$ 2,709

_______________

(a)	Consists of all franchisees aside from Owned Brokerage Group.
(b)	Buy title and shutting models for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021 had been revised to mirror a lower of 1,326, 1,812 and 1,993 models, respectively. The change was for the variety of models solely and didn’t influence income.
(c)	Refinance title and shutting models for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021 had been revised to mirror a lower of 661, 742 and 696 models, respectively. The change was for the variety of models solely and didn’t influence income.
(d)	With the change in models famous above, Common price per closing unit for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021 was up to date to mirror a rise of $86, $112 and $126, respectively.

Desk 5a

ANYWHERE REAL ESTATE INC.
NON-GAAP RECONCILIATION – OPERATING EBITDA
THREE MONTHS ENDED SEPTEMBER 30, 2022 AND 2021
(In hundreds of thousands)

Set forth within the desk under is a reconciliation of Web earnings attributable to Anyplace to Working EBITDA for the three-month durations ended September 30, 2022 and 2021:

	Three Months Ended September 30,
	2022	2021
Web earnings attributable to Anyplace	$ 55	$ 114
Earnings tax expense	8	48
Earnings earlier than earnings taxes	63	162
Add: Depreciation and amortization	53	50
Curiosity expense, web	30	52
Restructuring prices, web (a)	16	4
Impairments (b)	3	1
Former guardian legacy value, web (c)	1	—
Loss on the early extinguishment of debt (c)	—	3
Loss on the sale of companies, investments or different belongings, web	—	1
Working EBITDA	$ 166	$ 273

The next desk displays Income, Working EBITDA and Working EBITDA margin by reportable segments:

	Revenues (d)		$ Change	% Change	Working EBITDA		$ Change	% Change	Working EBITDA Margin		Change
	2022	2021	$ Change	% Change	2022	2021	$ Change	% Change	2022	2021	Change
Franchise Group	$ 306	$ 342	$ (36)	(11) %	$ 202	$ 211	$ (9)	(4) %	66 %	62 %	4
Owned Brokerage Group	1,486	1,705	(219)	(13)	(1)	51	(52)	(102)	—	3	(3)
Title Group (e)	113	250	(137)	(55)	9	54	(45)	(83)	8	22	(14)
Company and Different	(97)	(111)	14	(e)	(44)	(43)	(1)	(2)
Whole Firm	$ 1,808	$ 2,186	$ (378)	(17) %	$ 166	$ 273	$ (107)	(39) %	9 %	12 %	(3)

_______________

(a)	Restructuring costs incurred for the three months ended September 30, 2022 embrace $2 million at Franchise Group, $Eight million at Owned Brokerage Group and $6 million at Company and Different. Restructuring costs incurred for the three months ended September 30, 2021 embrace $1 million at Franchise Group, $2 million at Owned Brokerage Group and $1 million at Company and Different.
(b)	Non-cash impairments for the three months ended September 30, 2022 primarily relate to lease asset and software program impairments and for the three months ended September 30, 2021 primarily relate to software program impairments.
(c)	Former guardian legacy objects and Loss on the early extinguishment of debt are recorded in Company and Different.
(d)	Revenues embrace the elimination of transactions between segments, which consists of intercompany royalties and advertising and marketing charges paid by Owned Brokerage Group of $97 million and $111 million in the course of the three months ended September 30, 2022 and 2021, respectively, and are eradicated by means of the Company and Different line.
(e)		Title Group contains our title, escrow and settlement companies (title company) companies, our minority-owned mortgage origination three way partnership and our minority-owned Title Insurance coverage Underwriter Joint Enterprise. The sale of the Title Underwriter on March 29, 2022 resulted in declines of $99 million in underwriter income and $17 million in Working EBITDA within the third quarter of 2022 as in comparison with the third quarter of 2021, with $2 million of fairness in earnings attributable to the Title Insurance coverage Underwriter Joint Enterprise partially offsetting the decline in earnings. The Working EBITDA contribution from our mortgage origination three way partnership declined $14 million from earnings of $11 million for the three-month interval ended September 30, 2021 to losses of $Three million for the three-month interval ended September 30, 2022.

Desk 5b

ANYWHERE REAL ESTATE INC.
NON-GAAP RECONCILIATION – OPERATING EBITDA
NINE MONTHS ENDED SEPTEMBER 30, 2022 AND 2021
(In hundreds of thousands)

Set forth within the desk under is a reconciliation of Web earnings attributable to Anyplace to Working EBITDA for the nine-month durations ended September 30, 2022 and 2021:

	9 Months Ended September 30,
	2022	2021
Web earnings attributable to Anyplace	$ 166	$ 296
Earnings tax expense	52	125
Earnings earlier than earnings taxes	218	421
Add: Depreciation and amortization	159	152
Curiosity expense, web	76	147
Restructuring prices, web (a)	23	14
Impairments (b)	3	3
Former guardian legacy value, web (c)	1	1
Loss on the early extinguishment of debt (c)	92	21
Achieve on the sale of companies, investments or different belongings, web (d)	(135)	(14)
Working EBITDA	$ 437	$ 745

The next desk displays Income, Working EBITDA and Working EBITDA margin by reportable segments:

	Revenues (e)		$ Change	% Change	Working EBITDA		$ Change	% Change	Working EBITDA Margin		Change
	2022	2021	$ Change	% Change	2022	2021	$ Change	% Change	2022	2021	Change
Franchise Group	$ 912	$ 943	$ (31)	(3) %	$ 544	$ 576	$ (32)	(6) %	60 %	61 %	(1)
Owned Brokerage Group	4,525	4,667	(142)	(3)	(30)	116	(146)	(126)	(1)	2	(3)
Title Group (f)	447	706	(259)	(37)	27	170	(143)	(84)	6	24	(18)
Company and Different	(299)	(307)	8	(e)	(104)	(117)	13	11
Whole Firm	$ 5,585	$ 6,009	$ (424)	(7) %	$ 437	$ 745	$ (308)	(41) %	8 %	12 %	(4)

_______________

(a)	Restructuring costs incurred for the 9 months ended September 30, 2022 embrace $Four million at Franchise Group, $11 million at Owned Brokerage Group and $Eight million at Company and Different. Restructuring costs incurred for the 9 months ended September 30, 2021 embrace $Four million at Franchise Group, $6 million at Owned Brokerage Group and $Four million at Company and Different.
(b)	Non-cash impairments for the 9 months ended September 30, 2022 and 2021 primarily relate to software program and lease asset impairments.
(c)	Former guardian legacy objects and Loss on the early extinguishment of debt are recorded in Company and Different.
(d)	Achieve on the sale of companies, investments or different belongings, web for the 9 months ended September 30, 2022 is recorded in Title Group and associated to the sale of the Title Underwriter in the course of the first quarter of 2022 and the sale of a portion of the Firm’s possession within the Title Insurance coverage Underwriter Joint Enterprise in the course of the second quarter of 2022. Achieve on the sale of companies, investments or different belongings, web for the 9 months ended September 30, 2021 is primarily recorded in Owned Brokerage Group.
(e)	Revenues embrace the elimination of transactions between segments, which consists of intercompany royalties and advertising and marketing charges paid by Owned Brokerage Group of $299 million and $307 million in the course of the 9 months ended September 30, 2022 and 2021, respectively, and are eradicated by means of the Company and Different line.
(f)	Title Group contains our title, escrow and settlement companies (title company) companies, our minority-owned mortgage origination three way partnership and our minority-owned Title Insurance coverage Underwriter Joint Enterprise. The sale of the Title Underwriter resulted in declines of $207 million in underwriter income and $45 million in Working EBITDA in the course of the 9 months ended September 30, 2022 in comparison with the identical interval in 2021, with $5 million of fairness in earnings attributable to the Title Insurance coverage Underwriter Joint Enterprise partially offsetting the decline in earnings. The Working EBITDA contribution from the mortgage origination three way partnership declined $61 million from earnings of $49 million for the nine-month interval ended September 30, 2021 to losses of $12 million for the nine-month interval ended September 30, 2022. The decline was primarily pushed by considerably greater mortgage charges and margin compression.

Desk 6a

ANYWHERE REAL ESTATE INC. SELECTED 2022 FINANCIAL DATA (In hundreds of thousands)

	Three Months Ended
	March 31,	June 30,	September 30,
	2022	2022	2022
Web revenues (a)
Franchise Group	$ 267	$ 339	$ 306
Owned Brokerage Group	1,264	1,775	1,486
Title Group	190	144	113
Company and Different	(86)	(116)	(97)
Whole Firm	$ 1,635	$ 2,142	$ 1,808

Working EBITDA
Franchise Group	$ 138	$ 204	$ 202
Owned Brokerage Group	(40)	11	(1)
Title Group	(3)	21	9
Company and Different	(26)	(34)	(44)
Whole Firm	$ 69	$ 202	$ 166

Non-GAAP Reconciliation – Working EBITDA
Whole Firm Working EBITDA	$ 69	$ 202	$ 166

Much less: Depreciation and amortization	51	55	53
Curiosity expense, web	18	28	30
Earnings tax expense	12	32	8
Restructuring prices, web (b)	4	3	16
Impairments (c)	—	—	3
Former guardian legacy value, web (d)	—	—	1
Loss on the early extinguishment of debt (d)	92	—	—
Achieve on the sale of companies, investments or different belongings, web (e)	(131)	(4)	—
Web earnings attributable to Anyplace	$ 23	$ 88	$ 55

_______________

(a)	Transactions between segments are eradicated in consolidation. Revenues for Franchise Group embrace intercompany royalties and advertising and marketing charges paid by Owned Brokerage Group of $86 million, $116 million and $97 million for the three months ended March 31, 2022, June 30, 2022 and September 30, 2022, respectively. Such quantities are eradicated by means of Company and Different.
(b)	Consists of restructuring costs damaged down by enterprise unit as follows:

	Three Months Ended
	March 31,	June 30,	September 30,
	2022	2022	2022
Franchise Group	$ 1	$ 1	$ 2
Owned Brokerage Group	2	1	8
Company and Different	1	1	6
Whole Firm	$ 4	$ 3	$ 16


(c)	Non-cash impairments for the three months ended March 31, 2022, June 30, 2022 and September 30, 2022 primarily relate to lease asset and software program impairments.
(d)	Former guardian legacy objects and Loss on the early extinguishment of debt is recorded in Company and Different.
(e)	Achieve on the sale of companies, investments or different belongings, web is recorded in Title Group associated to the sale of the Title Underwriter in the course of the first quarter of 2022 and the sale of a portion of the Firm’s possession within the Title Insurance coverage Underwriter Joint Enterprise in the course of the second quarter of 2022.

Desk 6b

ANYWHERE REAL ESTATE INC. SELECTED 2021 FINANCIAL DATA (In hundreds of thousands)

	Three Months Ended				12 months Ended
	March 31,	June 30,	September 30,	December 31,	December 31,
	2021	2021	2021	2021	2021
Web revenues (a)
Franchise Group	$ 254	$ 347	$ 342	$ 306	$ 1,249
Owned Brokerage Group	1,171	1,791	1,705	1,522	6,189
Title Group	201	255	250	246	952
Company and Different	(79)	(117)	(111)	(100)	(407)
Whole Firm	$ 1,547	$ 2,276	$ 2,186	$ 1,974	$ 7,983

Working EBITDA
Franchise Group	$ 141	$ 224	$ 211	$ 175	$ 751
Owned Brokerage Group	(5)	70	51	(7)	109
Title Group	61	55	54	30	200
Company and Different	(35)	(39)	(43)	(41)	(158)
Whole Firm	$ 162	$ 310	$ 273	$ 157	$ 902

Non-GAAP Reconciliation – Working EBITDA
Whole Firm Working EBITDA	$ 162	$ 310	$ 273	$ 157	$ 902

Much less: Depreciation and amortization	51	51	50	52	204
Curiosity expense, web	38	57	52	43	190
Earnings tax expense	17	60	48	8	133
Restructuring prices, web (b)	5	5	4	3	17
Impairments (c)	1	1	1	1	4
Former guardian legacy value, web (d)	—	1	—	—	1
Loss on the early extinguishment of debt (d)	17	1	3	—	21
(Achieve) loss on the sale of companies, investments or different belongings, web (e)	—	(15)	1	3	(11)
Web earnings attributable to Anyplace	$ 33	$ 149	$ 114	$ 47	$ 343

_______________

(a)

Transactions between segments are eradicated in consolidation. Revenues for Franchise Group embrace intercompany royalties and advertising and marketing charges paid by Owned Brokerage Group of $79 million, $117 million, $111 million and $100 million for the three months ended March 31, 2021, June 30, 2021, September 30, 2021 and December 31, 2021, respectively. Such quantities are eradicated by means of Company and Different.

(b)

Consists of restructuring costs damaged down by enterprise unit as follows:

	Three Months Ended				12 months Ended
	March 31,	June 30,	September 30,	December 31,	December 31,
	2021	2021	2021	2021	2021
Franchise Group	$ 2	$ 1	$ 1	$ 1	$ 5
Owned Brokerage Group	2	2	2	1	7
Company and Different	1	2	1	1	5
Whole Firm	$ 5	$ 5	$ 4	$ 3	$ 17


(c)	Impairments for the three months ended March 31, 2021, June 30, 2021, September 30, 2021 and December 31, 2021 primarily relate to software program and lease asset impairments.
(d)	Former guardian legacy objects and Loss on the early extinguishment of debt are recorded in Company and Different.
(e)	Achieve) loss on the sale of companies, investments or different belongings, web is primarily recorded in Owned Brokerage Group.

Desk 6c

ANYWHERE REAL ESTATE INC. 2021 CONSOLIDATED STATEMENTS OF OPERATIONS (In hundreds of thousands, besides per share knowledge)

	Three Months Ended				12 months Ended
	March 31,	June 30,	September 30,	December 31,	December 31,
	2021	2021	2021	2021	2021
Revenues
Gross fee earnings	$ 1,154	$ 1,773	$ 1,689	$ 1,502	$ 6,118
Service income	249	314	315	302	1,180
Franchise charges	105	147	139	130	521
Different	39	42	43	40	164
Web revenues	1,547	2,276	2,186	1,974	7,983
Bills
Fee and different agent-related prices	885	1,373	1,309	1,186	4,753
Working	384	422	424	439	1,669
Advertising and marketing	58	66	69	70	263
Normal and administrative	90	114	120	117	441
Former guardian legacy value, web	—	1	—	—	1
Restructuring prices, web	5	5	4	3	17
Impairments	1	1	1	1	4
Depreciation and amortization	51	51	50	52	204
Curiosity expense, web	38	57	52	43	190
Loss on the early extinguishment of debt	17	1	3	—	21
Different (earnings) expense, web	(2)	(16)	1	2	(15)
Whole bills	1,527	2,075	2,033	1,913	7,548
Earnings earlier than earnings taxes, fairness in (earnings) losses and noncontrolling pursuits	20	201	153	61	435
Earnings tax expense	17	60	48	8	133
Fairness in (earnings) losses of unconsolidated entities	(31)	(10)	(11)	4	(48)
Web earnings	34	151	116	49	350
Much less: Web earnings attributable to noncontrolling pursuits	(1)	(2)	(2)	(2)	(7)
Web earnings attributable to Anyplace	$ 33	$ 149	$ 114	$ 47	$ 343

Earnings per share attributable to Anyplace shareholders:
Primary earnings per share	$ 0.28	$ 1.28	$ 0.98	$ 0.40	$ 2.95
Diluted earnings per share	$ 0.28	$ 1.25	$ 0.95	$ 0.39	$ 2.85
Weighted common widespread and customary equal shares of Anyplace excellent:
Primary	115.9	116.5	116.6	116.6	116.4
Diluted	118.4	119.3	120.3	120.4	120.2

Desk 7

ANYWHERE REAL ESTATE INC.
NON-GAAP RECONCILIATION – FREE CASH FLOW
THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2022 AND 2021
(In hundreds of thousands)

A reconciliation of web earnings attributable to Anyplace to Free Money Circulate is about forth within the following desk:

	Three Months Ended September 30,		9 Months Ended September 30,
	2022	2021	2022	2021
Web earnings attributable to Anyplace	$ 55	$ 114	$ 166	$ 296
Earnings tax expense	8	48	52	125
Earnings tax funds	(17)	(19)	(61)	(32)
Curiosity expense, web	30	52	76	147
Money curiosity funds	(33)	(38)	(123)	(121)
Depreciation and amortization	53	50	159	152
Capital expenditures	(27)	(21)	(83)	(71)
Restructuring prices and former guardian legacy objects, web of funds	12	(3)	11	(8)
Impairments	3	1	3	3
Loss on the early extinguishment of debt	—	3	92	21
Loss (acquire) on the sale of companies, investments or different belongings, web	—	1	(135)	(14)
Working capital changes	(2)	73	(202)	(34)
Relocation receivables (belongings), web of securitization obligations	17	21	(61)	(6)
Free Money Circulate	$ 99	$ 282	$ (106)	$ 458

A reconciliation of web money supplied by (utilized in) working actions to Free Money Circulate is about forth within the following desk:

	Three Months Ended September 30,		9 Months Ended September 30,
	2022	2021	2022	2021
Web money supplied by (utilized in) working actions	$ 134	$ 303	$ (71)	$ 489
Property and gear additions	(27)	(21)	(83)	(71)
Web change in securitization obligations	(6)	—	51	40
Impact of trade charges on money, money equivalents and restricted money	(2)	—	(3)	—
Free Money Circulate	$ 99	$ 282	$ (106)	$ 458

Web money utilized in investing actions	$ (32)	$ (17)	$ (25)	$ (68)
Web money utilized in financing actions	$ (85)	$ (446)	$ (367)	$ (238)

Desk 8a

NON-GAAP RECONCILIATION – SENIOR SECURED LEVERAGE RATIO
FOR THE FOUR-QUARTER PERIOD ENDED SEPTEMBER 30, 2022
(In hundreds of thousands)

The senior secured leverage ratio is examined quarterly pursuant to the phrases of the senior secured credit score services*. For the trailing four-quarter interval ended September 30, 2022, Anyplace Actual Property Group LLC (“Anyplace Group”) was required to take care of a senior secured leverage ratio to not exceed 4.75 to 1.00. The senior secured leverage ratio is measured by dividing Anyplace Group’s whole senior secured web debt by the trailing four-quarters EBITDA calculated on a Professional Forma Foundation, as these phrases are outlined within the Senior Secured Credit score Settlement. Whole senior secured web debt doesn’t embrace our unsecured indebtedness, together with the Unsecured Notes and Exchangeable Senior Notes, or the securitization obligations. EBITDA calculated on a Professional Forma Foundation, as outlined within the Senior Secured Credit score Settlement, contains changes to Working EBITDA for retention and disposition prices, non-cash costs and incremental securitization curiosity prices, in addition to professional forma value financial savings for restructuring initiatives, the professional forma impact of enterprise optimization initiatives and the professional forma impact of acquisitions and new franchisees, in every case calculated as of the start of the trailing four-quarter interval. The Firm was in compliance with the senior secured leverage ratio covenant at September 30, 2022 with a ratio of 0.02 to 1.00.

A reconciliation of web earnings attributable to Anyplace Group to Working EBITDA and EBITDA calculated on a Professional Forma Foundation, as these phrases are outlined within the Senior Secured Credit score Settlement, for the four-quarter interval ended September 30, 2022 is about forth within the following desk:

		Much less	Equals	Plus	Equals
	12 months Ended	9 Months Ended	Three Months Ended	9 Months Ended	Twelve Months Ended
	December 31, 2021	September 30, 2021	December 31, 2021	September 30, 2022	September 30, 2022
Web earnings attributable to Anyplace Group (a)	$ 343	$ 296	$ 47	$ 166	$ 213
Earnings tax expense	133	125	8	52	60
Earnings earlier than earnings taxes	476	421	55	218	273
Depreciation and amortization	204	152	52	159	211
Curiosity expense, web	190	147	43	76	119
Restructuring prices, web	17	14	3	23	26
Impairments	4	3	1	3	4
Former guardian legacy value, web	1	1	—	1	1
Loss on the early extinguishment of debt	21	21	—	92	92
(Achieve) loss on the sale of companies, investments or different belongings, web	(11)	(14)	3	(135)	(132)
Working EBITDA (b)	902	745	157	437	594
Financial institution covenant changes:
Professional forma impact of enterprise optimization initiatives (c)					48
Non-cash costs (d)					28
Professional forma impact of acquisitions and new franchisees (e)					10
Incremental securitization curiosity prices (f)					5
EBITDA as outlined by the Senior Secured Credit score Settlement*					$ 685
Whole senior secured web debt (g)					$ 12
Senior secured leverage ratio*					0.02 x

_______________

(a)	Web earnings attributable to Anyplace Group consists of: (i) earnings of $47 million for the fourth quarter of 2021, (ii) earnings of $23 million for the primary quarter of 2022, (iii) earnings of $88 million for the second quarter of 2022 and (iv) earnings of $55 million for the third quarter of 2022.
(b)	Working EBITDA consists of: (i) $157 million for the fourth quarter of 2021, (ii) $69 million for the primary quarter of 2022, (iii) $202 million for the second quarter of 2022 and (iv) $166 million for the third quarter of 2022.
(c)	Represents the four-quarter professional forma impact of enterprise optimization initiatives.
(d)	Represents the elimination of non-cash bills together with $28 million of stock-based compensation expense, $Four million of international trade expense and $Three million for the change within the allowance for uncertain accounts and notes reserves much less $7 million of different objects for the four-quarter interval ended September 30, 2022.
(e)	Represents the estimated influence of acquisitions and franchise gross sales exercise, web of brokerages that exited our franchise system as if these adjustments had occurred on October 1, 2021. Franchisee gross sales exercise is comprised of recent franchise agreements in addition to development by means of acquisitions and impartial gross sales agent recruitment by present franchisees with our help. We’ve made numerous assumptions in calculating such estimates and there could be no assurance that we might have generated the projected ranges of Working EBITDA had we owned the acquired entities or entered into the franchise contracts as of October 1, 2021.
(f)	Incremental borrowing prices incurred because of the securitization services refinancing for the twelve months ended September 30, 2022.
(g)	Represents whole borrowings beneath the senior secured credit score services (together with the Revolving Credit score Facility) and Time period Mortgage A Facility and borrowings secured by a primary precedence lien on our belongings of $225 million plus $24 million of finance lease obligations much less $237 million of available money as of September 30, 2022. Pursuant to the phrases of our senior secured credit score services, whole senior secured web debt doesn’t embrace our securitization obligations or unsecured indebtedness, together with the Unsecured Notes and Exchangeable Senior Notes.

*	Our senior secured credit score services embrace the services beneath our Amended and Restated Credit score Settlement dated as of March 5, 2013, as amended infrequently (the “Senior Secured Credit score Settlement”), and the Time period Mortgage A Settlement dated as of October 23, 2015 (the “Time period Mortgage A Settlement”), as amended infrequently. Our Unsecured Notes embrace our 4.875% Senior Notes due 2023, 5.75% Senior Notes due 2029 and 5.25% Senior Notes due 2030. Exchangeable Senior Notes refers to our 0.25% Exchangeable Senior Notes due 2026.

Desk 8b

NET DEBT LEVERAGE RATIO
FOR THE FOUR-QUARTER PERIOD ENDED SEPTEMBER 30, 2022
(In hundreds of thousands)

Web company debt (excluding securitizations) divided by EBITDA calculated on a Professional Forma Foundation, as these phrases are outlined within the senior secured credit score services, for the four-quarter interval ended September 30, 2022 (known as web debt leverage ratio) is about forth within the following desk:

		As of September 30, 2022
Revolving Credit score Facility		$ —
Prolonged Time period Mortgage A		225
4.875% Senior Notes		340
5.75% Senior Notes		900
5.25% Senior Notes		1,000
0.25% Exchangeable Senior Notes		403
Finance lease obligations		24
Company Debt (excluding securitizations)		2,892
Much less: Money and money equivalents		272
Web Company Debt (excluding securitizations)		$ 2,620

EBITDA as outlined by the Senior Secured Credit score Settlement (a)		$ 685

Web Debt Leverage Ratio (b)		3.Eight x

_______________

(a)	See Desk 8a for a reconciliation of Web earnings attributable to Anyplace Group to EBITDA as outlined by the Senior Secured Credit score Settlement.

Desk 9

Non-GAAP Definitions

Adjusted web earnings (loss) is outlined by us as web earnings (loss) earlier than mark-to-market rate of interest swap changes, former guardian legacy objects, restructuring costs, the (acquire) loss on the early extinguishment of debt, impairments, the (acquire) loss on the sale of companies, investments or different belongings and the tax impact of the foregoing changes. The gross quantities for this stuff in addition to the adjustment for earnings taxes are offered.

Working EBITDA is outlined by us as web earnings (loss) earlier than depreciation and amortization, curiosity expense, web (aside from relocation companies curiosity for securitization belongings and securitization obligations), earnings taxes, and different objects that aren’t core to the working actions of the Firm resembling restructuring costs, former guardian legacy objects, beneficial properties or losses on the early extinguishment of debt, impairments, beneficial properties or losses on discontinued operations and beneficial properties or losses on the sale of companies, investments or different belongings. Working EBITDA is our main non-GAAP measure.

We current Working EBITDA as a result of we consider it’s helpful as a supplemental measure in evaluating the efficiency of our working companies and gives higher transparency into our outcomes of operations. Our administration, together with our chief working choice maker, makes use of Working EBITDA as a consider evaluating the efficiency of our enterprise. Working EBITDA shouldn’t be thought of in isolation or as an alternative to web earnings or different assertion of operations knowledge ready in accordance with GAAP.

We consider Working EBITDA facilitates company-to-company working efficiency comparisons by backing out potential variations attributable to variations in capital buildings (affecting web curiosity expense), taxation, the age and e book depreciation of services (affecting relative depreciation expense) and the amortization of intangibles, in addition to different objects that aren’t core to the working actions of the Firm resembling restructuring costs, beneficial properties or losses on the early extinguishment of debt, former guardian legacy objects, impairments, beneficial properties or losses on discontinued operations and beneficial properties or losses on the sale of companies, investments or different belongings, which can differ for various firms for causes unrelated to working efficiency. We additional consider that Working EBITDA is continuously utilized by securities analysts, buyers and different events of their analysis of firms, a lot of which current an Working EBITDA measure when reporting their outcomes.

Working EBITDA has limitations as an analytical software, and you shouldn’t think about Working EBITDA both in isolation or as an alternative to analyzing our outcomes as reported beneath GAAP. A few of these limitations are:

this measure doesn’t mirror adjustments in, or money required for, our working capital wants;
this measure doesn’t mirror our curiosity expense (aside from curiosity associated to our securitization obligations), or the money necessities essential to service curiosity or principal funds on our debt;
this measure doesn’t mirror our earnings tax expense or the money necessities to pay our taxes;
this measure doesn’t mirror historic money expenditures or future necessities for capital expenditures or contractual commitments;
though depreciation and amortization are non-cash costs, the belongings being depreciated and amortized will typically require substitute sooner or later, and this measure doesn’t mirror any money necessities for such replacements; and
different firms could calculate this measure in a different way in order that they will not be comparable.

Free Money Circulate is outlined as web earnings (loss) attributable to Anyplace earlier than earnings tax expense (profit), earnings tax funds, curiosity expense, web, money curiosity funds, depreciation and amortization, capital expenditures, restructuring prices and former guardian legacy prices (advantages), web of funds, impairments, (acquire) loss on the sale of companies, investments or different belongings, (acquire) loss on the early extinguishment of debt, working capital changes and relocation receivables (belongings), web of change in securitization obligations. We use Free Money Circulate in our inside analysis of working effectiveness and selections concerning the allocation of sources, in addition to measuring the Firm’s means to generate money. Since Free Money Circulate could be considered as each a efficiency measure and a money circulate measure, the Firm has supplied a reconciliation to each web earnings attributable to Anyplace and web money supplied by working actions. Free Money Circulate isn’t outlined by GAAP and shouldn’t be thought of in isolation or as an alternative choice to web earnings (loss), web money supplied by (utilized in) working, investing and financing actions or different monetary knowledge ready in accordance with GAAP or as an indicator of the Firm’s working efficiency or liquidity. Free Money Circulate could differ from equally titled measures offered by different firms.

SOURCE Anyplace Actual Property Inc.

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