XML 14 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenue:        
Total revenue $ 52,207 $ 71,381 $ 122,479 $ 142,559
Operating expenses:        
Selling, operating and administrative expenses 25,348 25,710 60,025 59,613
Marketing Funds expenses 11,765 18,060 29,287 36,832
Depreciation and amortization 6,412 5,541 12,722 11,099
Total operating expenses 43,525 49,311 102,034 107,544
Operating income 8,682 22,070 20,445 35,015
Other expenses, net:        
Interest expense (2,187) (3,154) (4,869) (6,309)
Interest income 34 342 303 662
Foreign currency transaction gains (losses) 101 61 (169) 116
Total other expenses, net (2,052) (2,751) (4,735) (5,531)
Income before provision for income taxes 6,630 19,319 15,710 29,484
Provision for income taxes (706) (3,186) (4,496) (5,094)
Net income 5,924 16,133 11,214 24,390
Less: net income attributable to non-controlling interest (note 3) 2,435 7,563 5,094 11,411
Net income attributable to RE/MAX Holdings, Inc. $ 3,489 $ 8,570 $ 6,120 $ 12,979
Net income attributable to RE/MAX Holdings, Inc. per share of Class A common stock        
Basic $ 0.19 $ 0.48 $ 0.34 $ 0.73
Diluted $ 0.19 $ 0.48 $ 0.34 $ 0.73
RMCO, LLC        
Other expenses, net:        
Net income $ 5,924 $ 16,133 $ 11,214 $ 24,390
Less: net income attributable to non-controlling interest (note 3) 2,435 7,563 5,094 11,411
Net income attributable to RE/MAX Holdings, Inc. $ 3,489 $ 8,570 $ 6,120 $ 12,979
Common Class A        
Net income attributable to RE/MAX Holdings, Inc. per share of Class A common stock        
Basic $ 0.19 $ 0.48 $ 0.34 $ 0.73
Diluted $ 0.19 $ 0.48 $ 0.34 $ 0.73
Weighted average shares of Class A common stock outstanding        
Basic 18,123,963 17,808,321 18,049,114 17,791,942
Diluted 18,146,886 17,833,958 18,090,259 17,825,880
Cash dividends declared per share of Class A common stock $ 0.22 $ 0.21 $ 0.44 $ 0.42
Continuing franchise fees        
Revenue:        
Total revenue $ 16,738 $ 24,894 $ 40,881 $ 49,850
Annual dues        
Revenue:        
Total revenue 8,745 8,819 17,666 17,673
Broker fees        
Revenue:        
Total revenue 10,426 13,459 19,870 22,047
Marketing Funds fees        
Revenue:        
Total revenue 11,765 18,060 29,287 36,832
Franchise sales and other revenue        
Revenue:        
Total revenue $ 4,533 $ 6,149 $ 14,775 $ 16,157