Segment Information (Tables)

6 Months Ended

Jun. 30, 2014

Schedule of Company's Reportable Segments Revenue and Adjusted EBITDA

The following tables present the results of the Company’s reportable segments for the three and six months ended June 30, 2014 and 2013, respectively:

	Revenue (a)
	Three months ended June 30,				Six months ended June 30,
	2014		2013		2014		2013
	(in thousands)
Real Estate Franchise Services	$	38,699	$	34,884	$	77,798	$	70,534
Brokerages		3,600		4,357		6,381		7,782
Consolidated revenue	$	42,299	$	39,241	$	84,179	$	78,316

(a)

Transactions between the Real Estate Franchise Services and the Brokerages reportable segments are eliminated in consolidation. Revenues for the Real Estate Franchise Services reportable segment include intercompany amounts paid from the Company’s brokerage services business of $463,000 and $393,000 for the three months ended June 30, 2014 and 2013, respectively, and $885,000 and $746,000 for the six months ended June 30, 2014 and 2013, respectively. Such amounts are eliminated in the Brokerages reportable segment.

Segment Adjusted EBITDA to Net Income

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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