Summarized quarterly results for the years ended December 31, 2016 and 2015 were as follows:


	For the Quarter Ended
	March 31, 2016		June 30, 2016		September 30, 2016		December 31, 2016
		(in thousands, except shares and per share amounts)
Total revenue	$	42,917	$	43,404	$	45,559	$	44,422
Total operating expenses		27,060		22,703		24,203		29,935
Operating income		15,857		20,701		21,356		14,487
Total other expenses, net		(2,202)		(2,036)		(2,204)		(2,876)
Income before provision for income taxes		13,655		18,665		19,152		11,611
Provision for income taxes		(3,259)		(4,285)		(4,632)		(3,097)
Net income		10,396		14,380		14,520		8,514
Less: net income attributable to non-controlling interest		5,456		7,419		7,609		4,589
Net income attributable to RE/MAX Holdings, Inc.	$	4,940	$	6,961	$	6,911	$	3,925

Net income attributable to RE/MAX Holdings, Inc. per share of Class A common stock
Basic	$	0.28	$	0.39	$	0.39	$	0.22
Diluted	$	0.28	$	0.39	$	0.39	$	0.22
Weighted average shares of Class A common stock outstanding
Basic		17,584,351		17,636,590		17,645,696		17,647,930
Diluted		17,638,667		17,668,995		17,691,641		17,706,070

	For the Quarter Ended
	March 31, 2015		June 30, 2015		September 30, 2015		December 31, 2015
		(in thousands, except shares and per share amounts)
Total revenue	$	44,207	$	44,277	$	45,110	$	43,274
Total operating expenses		28,884		22,921		24,498		26,410
Operating income		15,323		21,356		20,612		16,864
Total other expenses, net		(4,045)		(1,841)		(2,142)		(2,747)
Income before provision for income taxes		11,278		19,515		18,470		14,117
Provision for income taxes		(2,148)		(3,457)		(3,277)		(3,148)
Net income		9,130		16,058		15,193		10,969
Less: net income attributable to non-controlling interest		6,379		11,088		10,396		6,923
Net income attributable to RE/MAX Holdings, Inc.	$	2,751	$	4,970	$	4,797	$	4,046

Net income attributable to RE/MAX Holdings, Inc. per share of Class A common stock
Basic	$	0.23	$	0.41	$	0.39	$	0.28
Diluted	$	0.22	$	0.40	$	0.39	$	0.28
Weighted average shares of Class A common stock outstanding
Basic		11,817,605		12,225,678		12,333,690		14,283,839
Diluted		12,293,505		12,399,527		12,420,748		14,351,911