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10-Q Filing

RE/MAX Holdings, Inc. CIK: 1581091 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0001558370-17-003626
Period End Date 20170331
Filing Date 20170505
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance rmax-20170331.xml
Balance Sheet 71 line items
Line Item Tag Value Unit Period
Accounts Receivable, allowance AllowanceForDoubtfulAccountsReceivable $5.54M USD Point-in-time
Accounts Receivable, allowance AllowanceForDoubtfulAccountsReceivable $5.93M USD Point-in-time
Property and equipment, accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $12.40M USD Point-in-time
Property and equipment, accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $12.20M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $110.21M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $57.61M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $64.64M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $95.67M USD Point-in-time
Accounts and notes receivable, current portion, less allowances of $5,934 and $5,535, respectively AccountsNotesAndLoansReceivableNetCurrent $19.42M USD Point-in-time
Accounts and notes receivable, current portion, less allowances of $5,934 and $5,535, respectively AccountsNotesAndLoansReceivableNetCurrent $20.41M USD Point-in-time
Other current assets OtherAssetsCurrent $4.19M USD Point-in-time
Other current assets OtherAssetsCurrent $2.97M USD Point-in-time
Total current assets AssetsCurrent $81.21M USD Point-in-time
Total current assets AssetsCurrent $88.01M USD Point-in-time
Property and equipment, net of accumulated depreciation of $12,399 and $12,196, respectively PropertyPlantAndEquipmentNet $2.75M USD Point-in-time
Property and equipment, net of accumulated depreciation of $12,399 and $12,196, respectively PropertyPlantAndEquipmentNet $2.69M USD Point-in-time
Franchise agreements, net FiniteLivedIntangibleAssetsNet $103.78M USD Point-in-time
Franchise agreements, net FiniteLivedIntangibleAssetsNet $109.14M USD Point-in-time
Other intangible assets, net OtherIntangibleAssetsNet $9.50M USD Point-in-time
Other intangible assets, net OtherIntangibleAssetsNet $9.81M USD Point-in-time
Goodwill Goodwill $126.66M USD Point-in-time
Goodwill Goodwill $126.63M USD Point-in-time
Deferred tax assets, net DeferredTaxAssetsLiabilitiesNetNoncurrent $104.56M USD Point-in-time
Deferred tax assets, net DeferredTaxAssetsLiabilitiesNetNoncurrent $105.77M USD Point-in-time
Other assets, net of current portion OtherAssetsNoncurrent $1.82M USD Point-in-time
Other assets, net of current portion OtherAssetsNoncurrent $1.89M USD Point-in-time
Total assets Assets $437.07M USD Point-in-time
Total assets Assets $437.15M USD Point-in-time
Accounts payable AccountsPayableCurrent $1.10M USD Point-in-time
Accounts payable AccountsPayableCurrent $855.00K USD Point-in-time
Accounts payable to affiliates AccountsPayableRelatedPartiesCurrent $204.00K USD Point-in-time
Accounts payable to affiliates AccountsPayableRelatedPartiesCurrent $145.00K USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $7.99M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $13.27M USD Point-in-time
Income taxes payable TaxesPayableCurrent $379.00K USD Point-in-time
Income taxes payable TaxesPayableCurrent $1.16M USD Point-in-time
Tax and other distributions payable to non-controlling unitholders IncomeTaxesAndTaxDistributionPayables $3.57M USD Point-in-time
Deferred revenue and deposits DeferredRevenueCurrent $17.76M USD Point-in-time
Deferred revenue and deposits DeferredRevenueCurrent $16.31M USD Point-in-time
Current portion of debt LongTermDebtCurrent $2.35M USD Point-in-time
Current portion of debt LongTermDebtCurrent $2.35M USD Point-in-time
Current portion of payable pursuant to tax receivable agreements AmountsPayableUnderTaxReceivableAgreementsCurrent $13.23M USD Point-in-time
Current portion of payable pursuant to tax receivable agreements AmountsPayableUnderTaxReceivableAgreementsCurrent $11.33M USD Point-in-time
Total current liabilities LiabilitiesCurrent $45.46M USD Point-in-time
Total current liabilities LiabilitiesCurrent $46.54M USD Point-in-time
Debt, net of current portion LongTermDebtNoncurrent $228.01M USD Point-in-time
Debt, net of current portion LongTermDebtNoncurrent $228.47M USD Point-in-time
Payable pursuant to tax receivable agreements, net of current portion AmountsPayableUnderTaxReceivableAgreementsNoncurrent $85.57M USD Point-in-time
Payable pursuant to tax receivable agreements, net of current portion AmountsPayableUnderTaxReceivableAgreementsNoncurrent $85.57M USD Point-in-time
Deferred tax liabilities, net DeferredTaxLiabilitiesNoncurrent $133.00K USD Point-in-time
Deferred tax liabilities, net DeferredTaxLiabilitiesNoncurrent $136.00K USD Point-in-time
Other liabilities, net of current portion OtherLiabilitiesNoncurrent $15.73M USD Point-in-time
Other liabilities, net of current portion OtherLiabilitiesNoncurrent $15.94M USD Point-in-time
Total liabilities Liabilities $375.12M USD Point-in-time
Total liabilities Liabilities $376.44M USD Point-in-time
Commitments and contingencies (note 13) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (note 13) CommitmentsAndContingencies - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $447.11M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $447.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $18.54M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $16.81M USD Point-in-time
Accumulated other comprehensive income (loss), net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $-28.00K USD Point-in-time
Accumulated other comprehensive income (loss), net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $16.00K USD Point-in-time
Total stockholders' equity attributable to RE/MAX Holdings, Inc. StockholdersEquity $465.67M USD Point-in-time
Total stockholders' equity attributable to RE/MAX Holdings, Inc. StockholdersEquity $463.78M USD Point-in-time
Non-controlling interest MinorityInterest $-403.07M USD Point-in-time
Non-controlling interest MinorityInterest $-403.71M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $61.95M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $60.71M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $437.07M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $437.15M USD Point-in-time
Income Statement 40 line items
Line Item Tag Value Unit Period
Continuing franchise fees ContinuingFranchiseFeesRevenue $18.91M USD 1 Quarter
Continuing franchise fees ContinuingFranchiseFeesRevenue $22.96M USD 1 Quarter
Annual dues MembershipDuesRevenueOnGoing $7.90M USD 1 Quarter
Annual dues MembershipDuesRevenueOnGoing $8.23M USD 1 Quarter
Broker fees BrokerFeesRevenue $7.20M USD 1 Quarter
Broker fees BrokerFeesRevenue $8.23M USD 1 Quarter
Franchise sales and other franchise revenue FranchiseRevenue $8.79M USD 1 Quarter
Franchise sales and other franchise revenue FranchiseRevenue $8.79M USD 1 Quarter
Brokerage revenue BrokerageRevenue $112.00K USD 1 Quarter
Total revenue Revenues $48.23M USD 1 Quarter
Total revenue Revenues $42.92M USD 1 Quarter
Selling, operating and administrative expenses SellingGeneralAndAdministrativeExpense $23.23M USD 1 Quarter
Selling, operating and administrative expenses SellingGeneralAndAdministrativeExpense $26.79M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $3.72M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $6.00M USD 1 Quarter
(Gain) loss on sale or disposition of assets, net DisposalGroupNotDiscontinuedOperationGainLossOnDisposal $-107.00K USD 1 Quarter
(Gain) loss on sale or disposition of assets, net DisposalGroupNotDiscontinuedOperationGainLossOnDisposal $12.00K USD 1 Quarter
Total operating expenses OperatingExpenses $27.06M USD 1 Quarter
Total operating expenses OperatingExpenses $32.78M USD 1 Quarter
Operating income OperatingIncomeLoss $15.45M USD 1 Quarter
Operating income OperatingIncomeLoss $15.86M USD 1 Quarter
Interest expense InterestExpense $2.35M USD 1 Quarter
Interest expense InterestExpense $2.28M USD 1 Quarter
Interest income InterestIncomeDomesticDeposits $51.00K USD 1 Quarter
Interest income InterestIncomeDomesticDeposits $26.00K USD 1 Quarter
Foreign currency transaction (losses) gains ForeignCurrencyTransactionGainLossRealized $-23.00K USD 1 Quarter
Foreign currency transaction (losses) gains ForeignCurrencyTransactionGainLossRealized $164.00K USD 1 Quarter
Loss on early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-136.00K USD 1 Quarter
Total other expenses, net OtherNonoperatingIncomeExpense $-2.35M USD 1 Quarter
Total other expenses, net OtherNonoperatingIncomeExpense $-2.20M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $13.65M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $13.10M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $3.26M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $3.03M USD 1 Quarter
Net income ProfitLoss $10.07M USD 1 Quarter
Net income ProfitLoss $10.40M USD 1 Quarter
Less: net income attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest $5.46M USD 1 Quarter
Less: net income attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest $5.16M USD 1 Quarter
Net income attributable to RE/MAX Holdings, Inc. NetIncomeLoss $4.91M USD 1 Quarter
Net income attributable to RE/MAX Holdings, Inc. NetIncomeLoss $4.94M USD 1 Quarter
Cash Flow Statement 58 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $10.07M USD 1 Quarter
Net income ProfitLoss $10.40M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $3.72M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $6.00M USD 1 Quarter
Bad debt expense ProvisionForDoubtfulAccounts $343.00K USD 1 Quarter
Bad debt expense ProvisionForDoubtfulAccounts $146.00K USD 1 Quarter
Loss on early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-136.00K USD 1 Quarter
Equity-based compensation expense ShareBasedCompensation $562.00K USD 1 Quarter
Equity-based compensation expense ShareBasedCompensation $766.00K USD 1 Quarter
Deferred income tax expense DeferredIncomeTaxExpenseBenefit $1.18M USD 1 Quarter
Deferred income tax expense DeferredIncomeTaxExpenseBenefit $1.15M USD 1 Quarter
Fair value adjustments to contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $130.00K USD 1 Quarter
Other, net OtherNoncashIncomeExpense $-222.00K USD 1 Quarter
Other, net OtherNoncashIncomeExpense $-115.00K USD 1 Quarter
Changes in operating assets and liabilities IncreaseDecreaseInOperatingCapital $4.30M USD 1 Quarter
Changes in operating assets and liabilities IncreaseDecreaseInOperatingCapital $4.06M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $14.10M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $12.48M USD 1 Quarter
Purchases of property, equipment and software PaymentsToAcquireProductiveAssets $640.00K USD 1 Quarter
Purchases of property, equipment and software PaymentsToAcquireProductiveAssets $1.39M USD 1 Quarter
Capitalization of trademark costs PaymentsToAcquireIntangibleAssets $17.00K USD 1 Quarter
Capitalization of trademark costs PaymentsToAcquireIntangibleAssets $13.00K USD 1 Quarter
Acquisitions, net of cash acquired of $0 and $131 PaymentsToAcquireBusinessesNetOfCashAcquired $8.37M USD 1 Quarter
Other investing activity, net PaymentsForProceedsFromOtherInvestingActivities $-54.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-9.72M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-657.00K USD 1 Quarter
Payments on debt RepaymentsOfDebt $588.00K USD 1 Quarter
Payments on debt RepaymentsOfDebt $13.25M USD 1 Quarter
Distributions to non-controlling unitholders PaymentsToMinorityShareholders $1.88M USD 1 Quarter
Distributions to non-controlling unitholders PaymentsToMinorityShareholders $2.28M USD 1 Quarter
Dividends paid to Class A common stockholders PaymentsOfDividendsCommonStock $3.18M USD 1 Quarter
Dividends paid to Class A common stockholders PaymentsOfDividendsCommonStock $2.64M USD 1 Quarter
Payments on capital lease obligations RepaymentsOfLongTermCapitalLeaseObligations $4.00K USD 1 Quarter
Payments on capital lease obligations RepaymentsOfLongTermCapitalLeaseObligations $27.00K USD 1 Quarter
Payment of payroll taxes related to net settled restricted stock units PaymentsRelatedToTaxWithholdingForShareBasedCompensation $450.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-17.80M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-6.51M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $496.00K USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $98.00K USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $7.03M USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-14.54M USD 1 Quarter
Cash and cash equivalents, beginning of year CashAndCashEquivalentsAtCarryingValue $110.21M USD Point-in-time
Cash and cash equivalents, beginning of year CashAndCashEquivalentsAtCarryingValue $57.61M USD Point-in-time
Cash and cash equivalents, beginning of year CashAndCashEquivalentsAtCarryingValue $64.64M USD Point-in-time
Cash and cash equivalents, beginning of year CashAndCashEquivalentsAtCarryingValue $95.67M USD Point-in-time
Cash and cash equivalents, end of year CashAndCashEquivalentsAtCarryingValue $110.21M USD Point-in-time
Cash and cash equivalents, end of year CashAndCashEquivalentsAtCarryingValue $57.61M USD Point-in-time
Cash and cash equivalents, end of year CashAndCashEquivalentsAtCarryingValue $64.64M USD Point-in-time
Cash and cash equivalents, end of year CashAndCashEquivalentsAtCarryingValue $95.67M USD Point-in-time
Cash paid for interest InterestPaid $2.28M USD 1 Quarter
Cash paid for interest InterestPaid $2.60M USD 1 Quarter
Net cash paid for income taxes IncomeTaxesPaid $1.01M USD 1 Quarter
Net cash paid for income taxes IncomeTaxesPaid $1.25M USD 1 Quarter
Tax and other distributions payable to non-controlling unitholders TaxDistributionPayableToNoncontrollingUnitholders $3.00M USD 1 Quarter
Tax and other distributions payable to non-controlling unitholders TaxDistributionPayableToNoncontrollingUnitholders $3.57M USD 1 Quarter
Note receivable received as consideration for sale of brokerage operations assets NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1 $150.00K USD 1 Quarter
Increase in accounts payable for capitalization of trademark costs and purchases of property, equipment and software IncreaseInAccountsPayableForCapitalizationOfTrademarkCostsAndPurchasesOfPropertyEquipmentAndSoftware $134.00K USD 1 Quarter
Increase in accounts payable for capitalization of trademark costs and purchases of property, equipment and software IncreaseInAccountsPayableForCapitalizationOfTrademarkCostsAndPurchasesOfPropertyEquipmentAndSoftware $456.00K USD 1 Quarter
Stockholders Equity 12 line items
Line Item Tag Value Unit Period
Beginning balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $61.95M USD Point-in-time
Beginning balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $60.71M USD Point-in-time
Net income ProfitLoss $10.07M USD 1 Quarter
Net income ProfitLoss $10.40M USD 1 Quarter
Distributions paid to non-controlling unitholders MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $5.85M USD 1 Quarter
Equity-based compensation, value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $562.00K USD 1 Quarter
Dividends to Class A common stockholders DividendsCommonStockCash $3.18M USD 1 Quarter
Change in accumulated other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $95.00K USD 1 Quarter
Change in accumulated other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $564.00K USD 1 Quarter
Payroll taxes related to net settled restricted stock units AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $450.00K USD 1 Quarter
Ending balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $61.95M USD Point-in-time
Ending balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $60.71M USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $10.07M USD 1 Quarter
Net income ProfitLoss $10.40M USD 1 Quarter
Change in cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $564.00K USD 1 Quarter
Change in cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $95.00K USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTax $95.00K USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTax $564.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $10.17M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $10.96M USD 1 Quarter
Less: comprehensive income attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $5.21M USD 1 Quarter
Less: comprehensive income attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $5.76M USD 1 Quarter
Comprehensive income attributable to RE/MAX Holdings, Inc., net of tax ComprehensiveIncomeNetOfTax $4.96M USD 1 Quarter
Comprehensive income attributable to RE/MAX Holdings, Inc., net of tax ComprehensiveIncomeNetOfTax $5.20M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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