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Non-controlling Interest (Tables)
 3 Months Ended
Mar. 31, 2017
Noncontrolling Interest  
Summary of Ownership of the Common Units

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 

 

December 31, 

 

 

 

2017

 

2016

 

 

    

Shares

    

Ownership %

    

Shares

    

Ownership %

 

Non-controlling unitholders ownership of common units in RMCO

 

12,559,600

 

41.53

%

12,559,600

 

41.57

%

RE/MAX Holdings, Inc. outstanding Class A common stock (equal to RE/MAX Holdings, Inc. common units in RMCO)

 

17,683,429

 

58.47

%

17,652,548

 

58.43

%

Total common units in RMCO

 
30,243,029

 

100.00

%

30,212,148

 
100.00

%

 

Reconciliation from Income Before Provision for Income Taxes to Net Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31,

 

2017

 

2016

 

RE/MAX Holdings, Inc.

 

Non-controlling interest

 

Total

 

 

RE/MAX Holdings, Inc.

 

Non-controlling interest

 

Total

 

Weighted average ownership percentage of RMCO (a)

 

58.44

%

 

41.56

%

 

100.00

%

 

 
58.33

%

 

41.67

%

 

100.00

%

Income before provision for income taxes

$

7,624

 

$

5,477

 

$

13,101

 

 

$

7,965

 

$

5,690

 

$

13,655

 

Provision for income taxes (b)(c)

 

(2,712)

 

 

(318)

 

 

(3,030)

 

 

 

(3,025)

 

 

(234)

 

 

(3,259)

 

Net income

$

4,912

 

$

5,159

 

$

10,071

 

 

$

4,940

 

$

5,456

 

$

10,396

 

(a)    The weighted average ownership percentage of RMCO differs slightly from the allocation of income before provision for income taxes between RE/MAX Holdings and the non-controlling interest as there are certain relatively insignificant expenses recorded at RE/MAX Holdings.    

(b)    The provision for income taxes attributable to RE/MAX Holdings is primarily comprised of U.S. federal and state income taxes on its proportionate share of the pass-through income from RMCO.  However, it also includes its share of taxes imposed directly on RE/MAX, LLC and its consolidated subsidiaries (“RE/MAX, LLC”), a wholly-owned subsidiary of RMCO, related primarily to tax liabilities in certain foreign jurisdictions.    

(c)    The provision for income taxes attributable to the non-controlling interest represents its share of taxes imposed on RE/MAX, LLC related primarily to tax liabilities in certain foreign jurisdictions.

Distributions Paid or Payable

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

March 31, 

 

 

2017

 

2016

Tax and other distributions

 

$

3,588

 

$

3,003

Dividend distributions

 

 

2,261

 

 

1,884

Total distributions

 

$

5,849

 

$

4,887