Acquisitions (Tables)

12 Months Ended

Dec. 31, 2018


	RE/MAX of Northern Illinois, Inc.	RE/MAX Regional Services	RE/MAX of New Jersey, Inc.	RE/MAX of Alaska, Inc.	RE/MAX of New York, Inc.
Acquisition date	November 15, 2017	December 15, 2016	December 1, 2016	April 1, 2016	February 22, 2016
Cash consideration (in thousands)	$ 35,720	$ 50,400	$ 45,000	$ 1,500	$ 8,500
Status of accounting for the business combination	Final as of December 31, 2018 (a)	Final as of December 31, 2017	Final as of December 31, 2017	Final as of December 31, 2016	Final as of December 31, 2016

(a)

In finalizing the accounting for this acquisition, adjustments were made during the year ended December 31, 2018 to the Consolidated Balance Sheet to decrease “Franchise agreements, net” by $0.7 million with a corresponding increase to “Goodwill”.

Schedule of Final Fair Value Of Assets at Acquisition Date

The following table summarizes the allocation of the purchase price to the fair value of assets acquired for the acquisitions occurring in 2017 and 2016 (in thousands):


	RE/MAX of Northern Illinois		RE/MAX Regional Services		RE/MAX of New Jersey		Full House		RE/MAX of Alaska		RE/MAX of New York		Total
Cash and cash equivalents	$	-	$	-	$	335	$	-	$	-	$	131	$	466
Franchise agreements		22,800		30,700		29,700		-		529		5,000		88,729
Non-compete agreement		-		-		-		2,500		-		-		2,500
Other assets		-		-		-		-		-		340		340
Goodwill		12,920		19,700		15,300		11,800		971		3,029		63,720
Other liabilities		-		-		(335)		-		-		-		(335)
Total purchase price	$	35,720	$	50,400	$	45,000	$	14,300	$	1,500	$	8,500	$	155,420

Summary of Unaudited Pro Forma Information


	Year Ended December 31,
	2018		2017		2016
	(in thousands, except per share amounts)
Total revenue	$	213,892	$	205,059	$	192,734
Net income attributable to RE/MAX Holdings, Inc. (a)	$	26,352	$	7,628	$	24,929
Basic earnings per common share	$	1.49	$	0.43	$	1.41
Diluted earnings per common share	$	1.48	$	0.43	$	1.41

Booj Llc

Acquisitions

Schedule of Final Fair Value Of Assets at Acquisition Date

The following table summarizes the Company’s allocation of the purchase price to the fair value of assets acquired and liabilities assumed (in thousands):


	booj
Cash	$	362
Other current assets		367
Property and equipment		625
Software		7,400
Trademarks		500
Non-compete agreement		1,200
Customer relationships		800
Other intangible assets		1,589
Other assets, net of current portion		336
Total assets acquired, excluding goodwill		13,179
Current portion of debt		(606)
Other current liabilities		(557)
Debt, net of current portion		(805)
Total liabilities assumed		(1,968)
Goodwill		15,039
Total purchase price	$	26,250
Acquisition-related costs	$	846
Revenue since acquisition date	$	5,586

Full House Mortgage Connection, Inc.

Acquisitions

Consideration Transferred

The following table summarizes the estimated consideration transferred at the acquisition (in thousands):


Cash consideration	$	8,000
Contingent purchase consideration (note 11)		6,300
Total purchase price	$	14,300