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10-Q Filing

RE/MAX Holdings, Inc. CIK: 1581091 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001558370-20-005456
Period End Date 20200331
Filing Date 20200506
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance rmax-20200506x10q_htm.xml
Balance Sheet 80 line items
Line Item Tag Value Unit Period
Accounts and notes receivable, allowance AllowanceForDoubtfulAccountsReceivable $12.54M USD Point-in-time
Accounts and notes receivable, allowance AllowanceForDoubtfulAccountsReceivable $14.88M USD Point-in-time
Property and equipment, accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $14.94M USD Point-in-time
Property and equipment, accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $15.40M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $83.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $80.91M USD Point-in-time
Restricted cash RestrictedCashCurrent $24.20M USD Point-in-time
Restricted cash RestrictedCashCurrent $20.60M USD Point-in-time
Accounts and notes receivable, current portion, less allowances of $14,879 and $12,538, respectively AccountsNotesAndLoansReceivableNetCurrent $28.64M USD Point-in-time
Accounts and notes receivable, current portion, less allowances of $14,879 and $12,538, respectively AccountsNotesAndLoansReceivableNetCurrent $27.29M USD Point-in-time
Income taxes receivable IncomeTaxesReceivable $1.58M USD Point-in-time
Income taxes receivable IncomeTaxesReceivable $896.00K USD Point-in-time
Other current assets OtherAssetsCurrent $9.64M USD Point-in-time
Other current assets OtherAssetsCurrent $10.81M USD Point-in-time
Total current assets AssetsCurrent $144.78M USD Point-in-time
Total current assets AssetsCurrent $142.78M USD Point-in-time
Property and equipment, net of accumulated depreciation of $15,402 and $14,940, respectively PropertyPlantAndEquipmentNet $5.44M USD Point-in-time
Property and equipment, net of accumulated depreciation of $15,402 and $14,940, respectively PropertyPlantAndEquipmentNet $5.72M USD Point-in-time
Operating lease right of use assets OperatingLeaseRightOfUseAsset $49.95M USD Point-in-time
Operating lease right of use assets OperatingLeaseRightOfUseAsset $51.13M USD Point-in-time
Franchise agreements, net FiniteLivedIntangibleAssetsNet $83.80M USD Point-in-time
Franchise agreements, net FiniteLivedIntangibleAssetsNet $87.67M USD Point-in-time
Other intangible assets, net OtherIntangibleAssetsNet $32.31M USD Point-in-time
Other intangible assets, net OtherIntangibleAssetsNet $29.55M USD Point-in-time
Goodwill Goodwill $159.04M USD Point-in-time
Goodwill Goodwill $161.70M USD Point-in-time
Deferred tax assets, net DeferredIncomeTaxAssetsNet $52.59M USD Point-in-time
Deferred tax assets, net DeferredIncomeTaxAssetsNet $49.25M USD Point-in-time
Income taxes receivable, net of current portion IncomeTaxesReceivableNoncurrent $1.69M USD Point-in-time
Income taxes receivable, net of current portion IncomeTaxesReceivableNoncurrent $1.69M USD Point-in-time
Other assets, net of current portion OtherAssetsNoncurrent $9.69M USD Point-in-time
Other assets, net of current portion OtherAssetsNoncurrent $11.22M USD Point-in-time
Total assets Assets $537.66M USD Point-in-time
Total assets Assets $542.35M USD Point-in-time
Accounts payable AccountsPayableCurrent $6.47M USD Point-in-time
Accounts payable AccountsPayableCurrent $2.98M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $52.34M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $60.16M USD Point-in-time
Income taxes payable TaxesPayableCurrent $6.85M USD Point-in-time
Income taxes payable TaxesPayableCurrent $7.92M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $25.66M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $25.47M USD Point-in-time
Current portion of debt LongTermDebtCurrent $2.63M USD Point-in-time
Current portion of debt LongTermDebtCurrent $2.65M USD Point-in-time
Current portion of payable pursuant to tax receivable agreements AmountsPayableUnderTaxReceivableAgreementsCurrent $3.58M USD Point-in-time
Current portion of payable pursuant to tax receivable agreements AmountsPayableUnderTaxReceivableAgreementsCurrent $3.58M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityCurrent $5.23M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityCurrent $5.10M USD Point-in-time
Total current liabilities LiabilitiesCurrent $103.64M USD Point-in-time
Total current liabilities LiabilitiesCurrent $107.00M USD Point-in-time
Debt, net of current portion LongTermDebtNoncurrent $222.52M USD Point-in-time
Debt, net of current portion LongTermDebtNoncurrent $223.03M USD Point-in-time
Payable pursuant to tax receivable agreements, net of current portion AmountsPayableUnderTaxReceivableAgreementsNoncurrent $33.14M USD Point-in-time
Payable pursuant to tax receivable agreements, net of current portion AmountsPayableUnderTaxReceivableAgreementsNoncurrent $33.64M USD Point-in-time
Deferred tax liabilities, net DeferredIncomeTaxLiabilitiesNet $293.00K USD Point-in-time
Deferred tax liabilities, net DeferredIncomeTaxLiabilitiesNet $542.00K USD Point-in-time
Deferred revenue, net of current portion ContractWithCustomerLiabilityNoncurrent $18.50M USD Point-in-time
Deferred revenue, net of current portion ContractWithCustomerLiabilityNoncurrent $18.76M USD Point-in-time
Operating lease liabilities, net of current portion OperatingLeaseLiabilityNoncurrent $54.60M USD Point-in-time
Operating lease liabilities, net of current portion OperatingLeaseLiabilityNoncurrent $55.96M USD Point-in-time
Other liabilities, net of current portion OtherLiabilitiesNoncurrent $4.64M USD Point-in-time
Other liabilities, net of current portion OtherLiabilitiesNoncurrent $5.29M USD Point-in-time
Total liabilities Liabilities $437.58M USD Point-in-time
Total liabilities Liabilities $443.98M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $470.64M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $466.94M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $28.88M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $30.52M USD Point-in-time
Accumulated other comprehensive income, net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $414.00K USD Point-in-time
Accumulated other comprehensive income, net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $378.00K USD Point-in-time
Total stockholders' equity attributable to RE/MAX Holdings, Inc. StockholdersEquity $497.89M USD Point-in-time
Total stockholders' equity attributable to RE/MAX Holdings, Inc. StockholdersEquity $499.90M USD Point-in-time
Non-controlling interest MinorityInterest $-399.51M USD Point-in-time
Non-controlling interest MinorityInterest $-399.82M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $100.08M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $79.28M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $98.38M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $83.63M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $542.35M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $537.66M USD Point-in-time
Income Statement 34 line items
Line Item Tag Value Unit Period
Total revenue RevenueFromContractWithCustomerExcludingAssessedTax $71.18M USD 1 Quarter
Total revenue RevenueFromContractWithCustomerExcludingAssessedTax $70.27M USD 1 Quarter
Selling, operating and administrative expenses SellingGeneralAndAdministrativeExpense $34.68M USD 1 Quarter
Selling, operating and administrative expenses SellingGeneralAndAdministrativeExpense $33.90M USD 1 Quarter
Marketing Funds expenses MarketingAndAdvertisingExpense $18.77M USD 1 Quarter
Marketing Funds expenses MarketingAndAdvertisingExpense $17.52M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $5.56M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $6.31M USD 1 Quarter
Total operating expenses OperatingExpenses $58.23M USD 1 Quarter
Total operating expenses OperatingExpenses $58.51M USD 1 Quarter
Operating income OperatingIncomeLoss $12.95M USD 1 Quarter
Operating income OperatingIncomeLoss $11.76M USD 1 Quarter
Interest expense InterestExpense $2.68M USD 1 Quarter
Interest expense InterestExpense $3.15M USD 1 Quarter
Interest income InterestIncomeDomesticDeposits $269.00K USD 1 Quarter
Interest income InterestIncomeDomesticDeposits $320.00K USD 1 Quarter
Foreign currency transaction gains (losses) ForeignCurrencyTransactionGainLossRealized $55.00K USD 1 Quarter
Foreign currency transaction gains (losses) ForeignCurrencyTransactionGainLossRealized $-270.00K USD 1 Quarter
Total other expenses, net OtherNonoperatingIncomeExpense $-2.68M USD 1 Quarter
Total other expenses, net OtherNonoperatingIncomeExpense $-2.78M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $9.08M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $10.16M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $1.91M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $3.79M USD 1 Quarter
Net income ProfitLoss $5.29M USD 1 Quarter
Net income ProfitLoss $8.26M USD 1 Quarter
Less: net income attributable to non-controlling interest (note 3) NetIncomeLossAttributableToNoncontrollingInterest $3.85M USD 1 Quarter
Less: net income attributable to non-controlling interest (note 3) NetIncomeLossAttributableToNoncontrollingInterest $2.66M USD 1 Quarter
Net income attributable to RE/MAX Holdings, Inc. NetIncomeLoss $4.41M USD 1 Quarter
Net income attributable to RE/MAX Holdings, Inc. NetIncomeLoss $2.63M USD 1 Quarter
Basic EarningsPerShareBasic $0.25 USD 1 Quarter
Basic EarningsPerShareBasic $0.15 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.25 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.15 USD 1 Quarter
Cash Flow Statement 52 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $5.29M USD 1 Quarter
Net income ProfitLoss $8.26M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $5.56M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $6.31M USD 1 Quarter
Bad debt expense ProvisionForDoubtfulAccounts $1.44M USD 1 Quarter
Bad debt expense ProvisionForDoubtfulAccounts $3.44M USD 1 Quarter
Equity-based compensation expense ShareBasedCompensation $4.05M USD 1 Quarter
Equity-based compensation expense ShareBasedCompensation $2.19M USD 1 Quarter
Deferred income tax expense DeferredIncomeTaxExpenseBenefit $1.08M USD 1 Quarter
Deferred income tax expense DeferredIncomeTaxExpenseBenefit $2.24M USD 1 Quarter
Fair value adjustments to contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $-505.00K USD 1 Quarter
Fair value adjustments to contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $-70.00K USD 1 Quarter
Other, net OtherNoncashIncomeExpense $-651.00K USD 1 Quarter
Other, net OtherNoncashIncomeExpense $504.00K USD 1 Quarter
Changes in operating assets and liabilities IncreaseDecreaseInOperatingCapital $4.80M USD 1 Quarter
Changes in operating assets and liabilities IncreaseDecreaseInOperatingCapital $-1.47M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $22.44M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $13.65M USD 1 Quarter
Purchases of property, equipment and capitalization of software PaymentsToAcquireProductiveAssets $1.97M USD 1 Quarter
Purchases of property, equipment and capitalization of software PaymentsToAcquireProductiveAssets $3.94M USD 1 Quarter
Restricted cash acquired with the Marketing Funds acquisition RestrictedCashAcquiredFromMarketingFundsAcquisition $28.50M USD 1 Quarter
Restricted cash acquired with the Marketing Funds acquisition RestrictedCashAcquiredFromMarketingFundsAcquisition - USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities - USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $1.20M USD 1 Quarter
Net cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivities $23.36M USD 1 Quarter
Net cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivities $-1.97M USD 1 Quarter
Payments on debt RepaymentsOfDebtAndCapitalLeaseObligations $660.00K USD 1 Quarter
Payments on debt RepaymentsOfDebtAndCapitalLeaseObligations $653.00K USD 1 Quarter
Distributions paid to non-controlling unitholders PaymentsToMinorityShareholders $2.69M USD 1 Quarter
Distributions paid to non-controlling unitholders PaymentsToMinorityShareholders $2.78M USD 1 Quarter
Dividends and dividend equivalents paid to Class A common stockholders PaymentsOfDividendsCommonStock $4.28M USD 1 Quarter
Dividends and dividend equivalents paid to Class A common stockholders PaymentsOfDividendsCommonStock $3.78M USD 1 Quarter
Payments related to tax withholding for share-based compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation $713.00K USD 1 Quarter
Payments related to tax withholding for share-based compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation $2.27M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-7.84M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-9.98M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $69.00K USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $-205.00K USD 1 Quarter
Net increase in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $38.02M USD 1 Quarter
Net increase in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $1.50M USD 1 Quarter
Cash, cash equivalents and restricted cash, beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $105.10M USD Point-in-time
Cash, cash equivalents and restricted cash, beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $103.60M USD Point-in-time
Cash, cash equivalents and restricted cash, beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $59.97M USD Point-in-time
Cash, cash equivalents and restricted cash, beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $98.00M USD Point-in-time
Cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $105.10M USD Point-in-time
Cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $103.60M USD Point-in-time
Cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $59.97M USD Point-in-time
Cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $98.00M USD Point-in-time
Cash paid for interest InterestPaidNet $2.95M USD 1 Quarter
Cash paid for interest InterestPaidNet $2.56M USD 1 Quarter
Net cash paid for income taxes IncomeTaxesPaidNet $1.08M USD 1 Quarter
Net cash paid for income taxes IncomeTaxesPaidNet $1.73M USD 1 Quarter
Stockholders Equity 20 line items
Line Item Tag Value Unit Period
Beginning balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $100.08M USD Point-in-time
Beginning balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $79.28M USD Point-in-time
Beginning balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $98.38M USD Point-in-time
Beginning balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $83.63M USD Point-in-time
Net income ProfitLoss $5.29M USD 1 Quarter
Net income ProfitLoss $8.26M USD 1 Quarter
Distributions to non-controlling unitholders MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $2.78M USD 1 Quarter
Distributions to non-controlling unitholders MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $2.69M USD 1 Quarter
Equity-based compensation expense and related dividend equivalents, value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $3.17M USD 1 Quarter
Equity-based compensation expense and related dividend equivalents, value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $5.67M USD 1 Quarter
Dividends to Class A common stockholders DividendsCommonStockCash $3.74M USD 1 Quarter
Dividends to Class A common stockholders DividendsCommonStockCash $3.99M USD 1 Quarter
Change in accumulated other comprehensive income OtherComprehensiveIncomeLossNetOfTax $69.00K USD 1 Quarter
Change in accumulated other comprehensive income OtherComprehensiveIncomeLossNetOfTax $-230.00K USD 1 Quarter
Payroll taxes related to net settled restricted stock units, value AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $2.27M USD 1 Quarter
Payroll taxes related to net settled restricted stock units, value AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $713.00K USD 1 Quarter
Ending balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $100.08M USD Point-in-time
Ending balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $79.28M USD Point-in-time
Ending balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $98.38M USD Point-in-time
Ending balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $83.63M USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $5.29M USD 1 Quarter
Net income ProfitLoss $8.26M USD 1 Quarter
Change in cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-230.00K USD 1 Quarter
Change in cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $69.00K USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $69.00K USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $-230.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $5.06M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $8.33M USD 1 Quarter
Less: comprehensive income attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $3.88M USD 1 Quarter
Less: comprehensive income attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $2.46M USD 1 Quarter
Comprehensive income attributable to RE/MAX Holdings, Inc., net of tax ComprehensiveIncomeNetOfTax $2.60M USD 1 Quarter
Comprehensive income attributable to RE/MAX Holdings, Inc., net of tax ComprehensiveIncomeNetOfTax $4.45M USD 1 Quarter

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

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