
	For the Quarter Ended
	March 31, 2018		June 30, 2018		September 30, 2018		December 31, 2018
Total revenue	$	52,642	$	54,277	$	54,866	$	50,841
Total operating expenses		38,925		33,363		33,059		29,428
Operating income		13,717		20,914		21,807		21,413
Total other expenses, net		(2,688)		(3,176)		(2,846)		(2,977)
Income before provision for income taxes		11,029		17,738		18,961		18,436
Provision for income taxes		(1,862)		(3,147)		(3,420)		(7,370)
Net income		9,167		14,591		15,541		11,066
Less: net income attributable to non-controlling interest		4,184		6,943		7,402		4,792
Net income attributable to RE/MAX Holdings, Inc.	$	4,983	$	7,648	$	8,139	$	6,274

Net income attributable to RE/MAX Holdings, Inc. per share of Class A common stock
Basic	$	0.28	$	0.43	$	0.46	$	0.35
Diluted	$	0.28	$	0.43	$	0.46	$	0.35
Weighted average shares of Class A common stock outstanding
Basic		17,709,095		17,746,042		17,746,184		17,748,745
Diluted		17,762,133		17,769,641		17,771,212		17,771,180

	For the Quarter Ended
	March 31, 2017		June 30, 2017		September 30, 2017		December 31, 2017 (a)
	As adjusted*		As adjusted*		As adjusted*		As adjusted*
Total revenue	$	47,406	$	48,727	$	49,071	$	48,510
Total operating expenses		32,637		26,055		36,580		110
Operating income		14,769		22,672		12,491		48,400
Total other expenses, net		(2,351)		(2,398)		(2,180)		(2,541)
Income before provision for income taxes		12,418		20,274		10,311		45,859
Provision for income taxes		(3,030)		(4,735)		(3,021)		(46,262)
Net income (loss)		9,388		15,539		7,290		(403)
Less: net income attributable to non-controlling interest		4,848		8,081		3,573		5,074
Net income (loss) attributable to RE/MAX Holdings, Inc.	$	4,540	$	7,458	$	3,717	$	(5,477)

Net income (loss) attributable to RE/MAX Holdings, Inc. per share of Class A common stock
Basic	$	0.26	$	0.42	$	0.21	$	(0.31)
Diluted	$	0.26	$	0.42	$	0.21	$	(0.31)
Weighted average shares of Class A common stock outstanding
Basic		17,662,842		17,696,842		17,696,991		17,696,991
Diluted		17,716,013		17,723,802		17,737,786		17,747,744

*See Note 3, Revenue for more information.

(a)The quarterly results for the quarter ended December 31, 2017 were impacted by the Tax Cuts and Jobs Act enacted in December 2017. The reduction in the corporate tax rate from 35% to 21% resulted in comparable reductions in both the deferred tax asset amounts and the TRA liabilities. See Note 11, Income Taxes for further information on the impact of the Tax Cuts and Jobs Act.