Non-controlling Interest (Tables)

6 Months Ended

Jun. 30, 2015

Summary of Ownership of the Common Units


	June 30,			December 31,
	2015			2014
	Shares	Ownership %		Shares	Ownership %
Non-controlling unitholders ownership of common units in RMCO	17,734,600	58.99	%	17,734,600	60.11	%
RE/MAX Holdings, Inc. outstanding Class A common stock (equal to RE/MAX Holdings, Inc. common units in RMCO)	12,329,110	41.01	%	11,768,041	39.89	%
Total common units in RMCO	30,063,710	100.00	%	29,502,641	100.00	%

Summary of Reconciliation from Income Before Provision for Income Taxes to Net Income

The aforementioned ownership percentages are used to calculate the net income attributable to RE/MAX Holdings. A reconciliation from “Income before provision for income taxes” to “Net income attributable to RE/MAX Holdings, Inc.” in the accompanying Condensed Consolidated Statements of Income for the periods indicated is detailed as follows (in thousands, except percentages):


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2015			2014			2015			2014
Income before provision for income taxes	$	19,515		$	17,638		$	30,793		$	27,321
Weighted average ownership percentage of controlling interest		40.81	%		39.53	%		40.40	%		39.55	%
Income before provision for income taxes attributable to RE/MAX Holdings, Inc.		7,964			6,972			12,440			10,805
Provision for income taxes attributable to RE/MAX Holdings, Inc.		(2,994)			(2,595)			(4,752)			(4,017)
Net income attributable to RE/MAX Holdings, Inc.	$	4,970		$	4,377		$	7,688		$	6,788

Summary of Reconciliation of Provision for Income Taxes

A reconciliation of the “Provision for income taxes” in the accompanying Condensed Consolidated Statements of Income for the periods indicated is detailed as follows (in thousands):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2015		2014		2015		2014
Provision for income taxes attributable to RE/MAX Holdings, Inc. (a)	$	(2,994)	$	(2,595)	$	(4,752)	$	(4,017)
Provision for income taxes attributable to entities other than RE/MAX Holdings, Inc. (b)		(463)		(534)		(853)		(997)
Provision for income taxes	$	(3,457)	$	(3,129)	$	(5,605)	$	(5,014)

(a)

The provision for income taxes attributable to RE/MAX Holdings includes all U.S. federal and state income taxes as well as RE/MAX Holdings’ approximate 40% share of the taxes imposed directly on RE/MAX, LLC, a wholly-owned subsidiary of RMCO, related to tax liabilities in certain foreign jurisdictions of $316,000 and $351,000 for the three months ended June 30, 2015 and 2014, respectively, and $578,000 and $654,000 for the six months ended June 30, 2015 and 2014, respectively.

(b)

The provision for income taxes attributable to entities other than RE/MAX Holdings represents taxes imposed directly on RE/MAX, LLC related to tax liabilities in certain foreign jurisdictions that are allocated to the non-controlling interest.