Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2015

HBN and Tails

Business Acquisition Pro Forma Information [Line Items]

Summary of Estimated Fair Value of Assets and Liabilities at Acquisition Date

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed at the acquisition date (in thousands):

	HBN		Tails		Total
Accounts and notes receivable, net	$	354	$	2,080	$	2,434
Other current assets		17		12		29
Franchise agreements		6,515		16,493		23,008
Goodwill		321		1,711		2,032
Other assets		15		—		15
Accrued liabilities		(92)		(121)		(213)
Total purchase price	$	7,130	$	20,175	$	27,305

RE/MAX of Texas

Business Acquisition Pro Forma Information [Line Items]

Summary of Unaudited Pro Forma Information

The following table provides the major classes of assets and liabilities held for sale for the period indicated (in thousands):

	As of December 31, 2015
Assets held for sale
Accounts and notes receivable, current portion	$	54
Other current assets		28
Property and equipment, net of accumulated depreciation of $402		272
Total assets held for sale	$	354
Liabilities held for sale
Accounts payable	$	5
Accrued liabilities		16
Deferred revenue and deposits		154
Other current liabilities		10
Other liabilities, net of current portion		166
Total liabilities held for sale	$	351

HBN, Tails and RE/MAX of Texas

Business Acquisition Pro Forma Information [Line Items]

Summary of Unaudited Pro Forma Information

The following unaudited pro forma financial information reflects the consolidated results of operations of the Company as if the acquisitions of HBN, Tails and RE/MAX of Texas had occurred on January 1, 2012. The historical financial information has been adjusted to give effect to events that are (1) directly attributed to the acquisition, (2) factually supportable and (3) expected to have a continuing impact on the combined results. Such items include interest expense related to debt issued to fund the acquisition of RE/MAX of Texas as well as additional amortization expense associated with the valuation of the acquired franchise agreement. This unaudited pro forma information should not be relied upon as necessarily being indicative of the historical results that would have been obtained if the acquisition had actually occurred on that date, nor of the results that may be obtained in the future.

	Year Ended
	December 31, 2013
	(unaudited)
	(in thousands)
Total revenue	$	165,113
Net income		30,486