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Consolidated Statements of Financial Position - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current Assets:    
Cash and cash equivalents $ 421 $ 325
Marketable securities 15 0
Receivables, less allowance of $4 and $5, respectively 10 6
Prepaid expenses and other current assets 42 32
Total Current Assets 488 363
Other Assets:    
Property and equipment, net 73 60
Goodwill 967 503
Intangible assets, net 448 143
Operating lease right-of-use assets 8 3
Long-term marketable securities 38 0
Deferred Reinsurance 65 0
Reinsurance recoverables 9 0
Deferred customer acquisition costs 11 12
Other assets 2 5
Total Assets 2,107 1,089
Current Liabilities:    
Accounts payable 71 76
Accrued liabilities:    
Payroll and related expenses 44 38
Home warranty claims 74 76
Other 28 22
Deferred revenue 123 102
Current portion of long-term debt 29 17
Total Current Liabilities 369 331
Long-Term Debt 1,170 577
Other Long-Term Liabilities:    
Deferred tax liabilities, net 49 25
Operating lease liabilities 20 16
Unearned insurance premium 233 0
Unpaid losses and loss adjustment reserves 12 0
Long-term deferred revenue 12 0
Other long-term liabilities 4 5
Total Other Long-Term liabilities 329 46
Commitments and Contingencies (Note 9)
Shareholders' Equity:    
Common stock, $0.01 par value; 2,000,000,000 shares authorized; 87,434,468 shares issued and 75,314,243 shares outstanding as of December 31, 2024 and 86,553,387 shares issued and 78,378,511 shares outstanding as of December 31, 2023 1 1
Additional paid-in capital 152 117
Retained earnings 530 296
Accumulated other comprehensive (loss) income 0 6
Less treasury stock, at cost; 12,120,225 shares as of December 31, 2024 and 8,174,876 shares as of December 31, 2023 (444) (283)
Total Shareholders' Equity 239 136
Total Liabilities and Shareholders' Equity $ 2,107 $ 1,089