Acquisitions and Dispositions (Tables) - RE/MAX INTEGRA North America Region Asset Acquisition

12 Months Ended

Dec. 31, 2023

Business Acquisition [Line Items]

Summary of the allocation of the purchase price to the fair value of assets acquired and liabilities assumed

The following table summarizes the preliminary allocation of the purchase price (net of settlement loss) to the fair value of assets acquired and liabilities assumed for the acquisition (in thousands): 

Cash and cash equivalents and restricted cash	$	14,098
Accounts and notes receivable, net		6,610
Income taxes receivable		494
Other current assets		502
Property and equipment		63
Franchise agreements (a)		92,250
Other intangible assets, net (a)		9,200
Other assets, net of current portion		2,174
Goodwill (b)		108,606
Accounts payable		(3,461)
Accrued liabilities		(14,045)
Income taxes payable		(3,107)
Deferred revenue		(824)
Deferred tax liabilities, net		(16,260)
Other liabilities, net of current portion		(2,200)
Total purchase price allocated to assets and liabilities		194,100
Loss on contract settlement		40,900
Total consideration	$	235,000

(a) The Company expects to amortize the acquired franchise agreements over a weighted average useful life of approximately 12 years and the non-compete agreements included in Other intangible assets, net over a useful life of 5 years using the straight-line method.

(b) The excess of the total purchase price over the fair value of the identifiable assets acquired was recorded as goodwill. The goodwill is attributable to expected synergies and projected long-term revenue growth for the RE/MAX network. The Company expects 50% of the goodwill in Canada but none in the U.S. to be deductible for tax purposes.

Summary of Unaudited Pro Forma Information

The pro forma information presented below is for illustrative purposes only and should not be relied upon as necessarily being indicative of the historical results that would have been obtained if the acquisitions had actually occurred on that date, nor of the results that may be obtained in the future (in thousands).

	Year Ended
	December 31,
	2023 (a)		2022 (a)		2021
Total revenue	$	325,671	$	353,386	$	356,489
Net income (loss) attributable to RE/MAX Holdings, Inc.	$	(69,022)	$	6,110	$	(16,092)

(a) Amounts agree to the Consolidated Statements of Income (Loss) for the twelve months ended December 31, 2023 and 2022, as it includes the actual results from the INTEGRA acquisition and are therefore not pro forma.