Non-controlling Interest (Tables)

6 Months Ended

Jun. 30, 2014

Summary of Ownership of the Common Units

The ownership of the common units in RMCO is summarized as follows:

	June 30, 2014					December 31, 2013
	Shares		Ownership %			Shares		Ownership %
Non-controlling unitholders ownership of common units in RMCO		17,734,600		60.50	%		17,734,600		60.44	%
RE/MAX Holdings, Inc. outstanding Class A common stock (equal to RE/MAX Holdings, Inc. common units in RMCO)		11,577,452		39.50	%		11,607,971		39.56	%
		29,312,052		100.00	%		29,342,571		100.00	%

Summary of Reconciliation from Income Before Provision for Income Taxes to Net Income

The aforementioned ownership percentages are used to calculate the net income attributable to RE/MAX Holdings. A reconciliation from “Income before provision for income taxes” to “Net income attributable to RE/MAX Holdings, Inc.” for the three and six months ended June 30, 2014 is detailed as follows (in thousands, except percentages):

	Three months ended June 30, 2014			Six months ended June 30, 2014
Income before provision for income taxes	$	17,638		$	27,321
Ownership percentage of controlling interest		39.53	%		39.55	%
Income before provision for income taxes attributable to RE/MAX Holdings, Inc.		6,972			10,805
Provision for income taxes attributable to RE/MAX Holdings, Inc.		(2,595	)		(4,017	)
Net income attributable to RE/MAX Holdings, Inc.	$	4,377		$	6,788

Summary of Reconciliation of Provision for Income Taxes

A reconciliation of the “Provision for income taxes” for the three and six months ended June 30, 2014 is detailed as follows (in thousands):

	Three months ended June 30, 2014			Six months ended June 30, 2014
Provision for income taxes attributable to RE/MAX Holdings, Inc. (a)	$	(2,595	)	$	(4,017	)
Provision for income taxes attributable to entities other than RE/MAX Holdings, Inc. (b)		(534	)		(997	)
Provision for income taxes	$	(3,129	)	$	(5,014	)

(a)

The provision for income taxes attributable to RE/MAX Holdings includes all U.S. federal and state income taxes as well as RE/MAX Holdings’ approximate 40% share of the taxes imposed directly on RE/MAX, LLC, a wholly-owned subsidiary of RMCO, related to tax liabilities in certain foreign jurisdictions of approximately $351,000 and $654,000 for the three and six months ended June 30, 2014, respectively.

(b)	The provision for income taxes attributable to entities other than RE/MAX Holdings represents taxes imposed directly on RE/MAX, LLC related to tax liabilities in certain foreign jurisdictions that are allocated to the non-controlling interest.