XML 60 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
Condensed Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Revenue:    
Continuing franchise fees $ 17,660us-gaap_RevenueFromFranchisorOwnedOutlets $ 17,704us-gaap_RevenueFromFranchisorOwnedOutlets
Annual dues 7,802us-gaap_MembershipDuesRevenueOnGoing 7,506us-gaap_MembershipDuesRevenueOnGoing
Broker fees 6,420us-gaap_FeesAndCommissionsOther 5,558us-gaap_FeesAndCommissionsOther
Franchise sales and other franchise revenue 8,426rmax_FranchiseSalesAndOtherFranchiseRevenue 7,909rmax_FranchiseSalesAndOtherFranchiseRevenue
Brokerage revenue 3,899us-gaap_RealEstateRevenueNet 3,203us-gaap_RealEstateRevenueNet
Total revenue 44,207us-gaap_SalesRevenueNet [1] 41,880us-gaap_SalesRevenueNet [1]
Operating expenses:    
Selling, operating and administrative expenses 25,071us-gaap_SellingGeneralAndAdministrativeExpense 25,287us-gaap_SellingGeneralAndAdministrativeExpense
Depreciation and amortization 3,811us-gaap_DepreciationAndAmortization 3,938us-gaap_DepreciationAndAmortization
Loss (gain) on sale or disposition of assets, net 2us-gaap_GainLossOnDispositionOfAssets1 (1)us-gaap_GainLossOnDispositionOfAssets1
Total operating expenses 28,884us-gaap_OperatingExpenses 29,224us-gaap_OperatingExpenses
Operating income 15,323us-gaap_OperatingIncomeLoss 12,656us-gaap_OperatingIncomeLoss
Other expenses, net:    
Interest expense (2,809)us-gaap_InterestExpense (2,466)us-gaap_InterestExpense
Interest income 67us-gaap_InterestIncomeDomesticDeposits 81us-gaap_InterestIncomeDomesticDeposits
Foreign currency transaction losses (1,421)us-gaap_ForeignCurrencyTransactionGainLossRealized (529)us-gaap_ForeignCurrencyTransactionGainLossRealized
Loss on early extinguishment of debt (94)us-gaap_GainsLossesOnExtinguishmentOfDebt  
Equity in earnings (losses) of investees 212us-gaap_IncomeLossFromEquityMethodInvestments (59)us-gaap_IncomeLossFromEquityMethodInvestments
Total other expenses, net (4,045)us-gaap_NonoperatingIncomeExpense (2,973)us-gaap_NonoperatingIncomeExpense
Income before provision for income taxes 11,278us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 9,683us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Provision for income taxes (2,148)us-gaap_IncomeTaxExpenseBenefit (1,885)us-gaap_IncomeTaxExpenseBenefit
Net income 9,130us-gaap_ProfitLoss 7,798us-gaap_ProfitLoss
Less: net income attributable to non-controlling interest 6,379us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 5,390us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net income attributable to RE/MAX Holdings, Inc. $ 2,751us-gaap_NetIncomeLoss $ 2,408us-gaap_NetIncomeLoss
Net income attributable to RE/MAX Holdings, Inc. per share of Class A common stock    
Basic $ 0.23us-gaap_EarningsPerShareBasic $ 0.21us-gaap_EarningsPerShareBasic
Diluted $ 0.22us-gaap_EarningsPerShareDiluted $ 0.20us-gaap_EarningsPerShareDiluted
Weighted average shares of Class A common stock outstanding    
Basic 11,817,605us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 11,607,971us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted 12,293,505us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 12,254,474us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
Cash dividends declared per share of Class A common stock $ 1.6250us-gaap_CommonStockDividendsPerShareDeclared $ 0.0625us-gaap_CommonStockDividendsPerShareDeclared
[1] 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 $432,000 and $422,000 for the three months ended March 31, 2015 and 2014, respectively. Such amounts are eliminated in the Brokerages reportable segment