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10-Q Filing

RE/MAX Holdings, Inc. CIK: 1581091 Q1 2014
Filing Information
Form Type 10-Q
Accession Number 0001564590-14-002221
Period End Date 20140331
Filing Date 20140515
Fiscal Year 2014
Fiscal Period Q1
XBRL Instance rmax-20140331.xml
Filing Contents
Balance Sheet 88 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $68.14M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $68.50M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $88.38M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $97.17M USD Point-in-time
Allowance for accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $4.15M USD Point-in-time
Allowance for accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $4.12M USD Point-in-time
Escrow cash - restricted RestrictedCashAndCashEquivalentsAtCarryingValue $710.00K USD Point-in-time
Escrow cash - restricted RestrictedCashAndCashEquivalentsAtCarryingValue $849.00K USD Point-in-time
Accumulated depreciation, property and equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $19.73M USD Point-in-time
Accounts and notes receivable, current portion, less allowances of $4,149 and $4,122, respectively AccountsReceivableNetCurrent $17.61M USD Point-in-time
Accumulated depreciation, property and equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $19.40M USD Point-in-time
Accounts and notes receivable, current portion, less allowances of $4,149 and $4,122, respectively AccountsReceivableNetCurrent $15.98M USD Point-in-time
Accumulated amortization, intangible assets FiniteLivedIntangibleAssetsAccumulatedAmortization $8.10M USD Point-in-time
Accumulated amortization, intangible assets FiniteLivedIntangibleAssetsAccumulatedAmortization $7.91M USD Point-in-time
Accounts receivable from affiliates AccountsReceivableRelatedPartiesCurrent $15.00K USD Point-in-time
Accounts receivable from affiliates AccountsReceivableRelatedPartiesCurrent $5.00K USD Point-in-time
Other current assets OtherAssetsCurrent $5.01M USD Point-in-time
Other current assets OtherAssetsCurrent $3.77M USD Point-in-time
Total current assets AssetsCurrent $110.08M USD Point-in-time
Total current assets AssetsCurrent $119.41M USD Point-in-time
Property and equipment, net of accumulated depreciation of $19,733 and $19,400, respectively PropertyPlantAndEquipmentNet $2.58M USD Point-in-time
Property and equipment, net of accumulated depreciation of $19,733 and $19,400, respectively PropertyPlantAndEquipmentNet $2.60M USD Point-in-time
Franchise agreements, net of accumulated amortization of $77,155 and $73,764, respectively FiniteLivedIntangibleAssetsNet $85.68M USD Point-in-time
Franchise agreements, net of accumulated amortization of $77,155 and $73,764, respectively FiniteLivedIntangibleAssetsNet $89.07M USD Point-in-time
Other intangible assets, net of accumulated amortization of $8,095 and $7,912, respectively OtherIntangibleAssetsNet $2.49M USD Point-in-time
Other intangible assets, net of accumulated amortization of $8,095 and $7,912, respectively OtherIntangibleAssetsNet $2.35M USD Point-in-time
Goodwill Goodwill $72.78M USD Point-in-time
Goodwill Goodwill $72.65M USD Point-in-time
Deferred tax assets, net DeferredTaxAssetsNetNoncurrent $67.39M USD Point-in-time
Deferred tax assets, net DeferredTaxAssetsNetNoncurrent $67.79M USD Point-in-time
Investments in equity method investees EquityMethodInvestments $3.64M USD Point-in-time
Investments in equity method investees EquityMethodInvestments $3.43M USD Point-in-time
Debt issuance costs, net DeferredFinanceCostsNoncurrentNet $2.28M USD Point-in-time
Debt issuance costs, net DeferredFinanceCostsNoncurrentNet $2.35M USD Point-in-time
Other assets OtherAssetsNoncurrent $1.95M USD Point-in-time
Other assets OtherAssetsNoncurrent $2.04M USD Point-in-time
Total assets Assets $352.82M USD Point-in-time
Total assets Assets $357.73M USD Point-in-time
Accounts payable AccountsPayableCurrent $1.92M USD Point-in-time
Accounts payable AccountsPayableCurrent $731.00K USD Point-in-time
Accounts payable to affiliates AccountsPayableRelatedPartiesCurrent $1.02M USD Point-in-time
Accounts payable to affiliates AccountsPayableRelatedPartiesCurrent $1.05M USD Point-in-time
Escrow liabilities DepositLiabilityCurrent $710.00K USD Point-in-time
Escrow liabilities DepositLiabilityCurrent $849.00K USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $9.34M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $7.73M USD Point-in-time
Income taxes and tax distributions payable IncomeTaxesAndTaxDistributionPayables $5.41M USD Point-in-time
Income taxes and tax distributions payable IncomeTaxesAndTaxDistributionPayables $3.00M USD Point-in-time
Dividends and other distributions payable DividendsPayableCurrent $1.83M USD Point-in-time
Dividends and other distributions payable DividendsPayableCurrent - USD Point-in-time
Deferred revenue and deposits DeferredRevenueCurrent $16.35M USD Point-in-time
Deferred revenue and deposits DeferredRevenueCurrent $15.82M USD Point-in-time
Current portion of debt DebtCurrent $16.93M USD Point-in-time
Current portion of debt DebtCurrent $17.30M USD Point-in-time
Current portion of payable to related parties pursuant to tax receivable agreements AmountsPayableUnderTaxReceivableAgreementsCurrent $902.00K USD Point-in-time
Current portion of payable to related parties pursuant to tax receivable agreements AmountsPayableUnderTaxReceivableAgreementsCurrent $902.00K USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $205.00K USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $206.00K USD Point-in-time
Total current liabilities LiabilitiesCurrent $53.19M USD Point-in-time
Total current liabilities LiabilitiesCurrent $49.03M USD Point-in-time
Debt, net of current portion LongTermDebtNoncurrent $210.91M USD Point-in-time
Debt, net of current portion LongTermDebtNoncurrent $211.10M USD Point-in-time
Payable to related parties pursuant to tax receivable agreements, net of current portion AmountsPayableUnderTaxReceivableAgreementsNoncurrent $67.94M USD Point-in-time
Payable to related parties pursuant to tax receivable agreements, net of current portion AmountsPayableUnderTaxReceivableAgreementsNoncurrent $67.94M USD Point-in-time
Deferred revenue, net of current portion DeferredRevenueNoncurrent $234.00K USD Point-in-time
Deferred revenue, net of current portion DeferredRevenueNoncurrent $117.00K USD Point-in-time
Deferred tax liabilities, net DeferredTaxLiabilitiesNoncurrent $195.00K USD Point-in-time
Deferred tax liabilities, net DeferredTaxLiabilitiesNoncurrent $194.00K USD Point-in-time
Other liabilities, net of current portion OtherLiabilitiesNoncurrent $8.79M USD Point-in-time
Other liabilities, net of current portion OtherLiabilitiesNoncurrent $8.78M USD Point-in-time
Total liabilities Liabilities $341.13M USD Point-in-time
Total liabilities Liabilities $337.28M USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $239.09M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $239.34M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $3.19M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.51M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $1.19M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $1.37M USD Point-in-time
Total stockholders' equity attributable to RE/MAX Holdings, Inc. StockholdersEquity $241.96M USD Point-in-time
Total stockholders' equity attributable to RE/MAX Holdings, Inc. StockholdersEquity $243.73M USD Point-in-time
Non-controlling interest MinorityInterest $-226.43M USD Point-in-time
Non-controlling interest MinorityInterest $-227.13M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $16.59M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $15.54M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $352.82M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $357.73M USD Point-in-time
Income Statement 62 line items
Line Item Tag Value Unit Period
Continuing franchise fees RevenueFromFranchisorOwnedOutlets $17.70M USD 1 Quarter
Continuing franchise fees RevenueFromFranchisorOwnedOutlets $15.11M USD 1 Quarter
Annual dues AnnualDuesRevenue $7.55M USD 1 Quarter
Annual dues AnnualDuesRevenue $7.51M USD 1 Quarter
Broker fees BrokerageCommissionsRevenue $5.56M USD 1 Quarter
Broker fees BrokerageCommissionsRevenue $4.67M USD 1 Quarter
Franchise sales and other franchise revenue FranchiseRevenue $8.15M USD 1 Quarter
Franchise sales and other franchise revenue FranchiseRevenue $7.91M USD 1 Quarter
Brokerage revenue RealEstateRevenueNet $3.59M USD 1 Quarter
Brokerage revenue RealEstateRevenueNet $3.20M USD 1 Quarter
Total revenue Revenues $39.08M USD 1 Quarter
Total revenue Revenues $41.88M USD 1 Quarter
Selling, operating and administrative expenses SellingGeneralAndAdministrativeExpense $25.29M USD 1 Quarter
Selling, operating and administrative expenses SellingGeneralAndAdministrativeExpense $25.99M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $3.94M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $3.73M USD 1 Quarter
Gain on sale or disposition of assets, net GainLossOnDispositionOfAssets1 $1.00K USD 1 Quarter
Gain on sale or disposition of assets, net GainLossOnDispositionOfAssets1 $1.00K USD 1 Quarter
Total operating expenses OperatingExpenses $29.71M USD 1 Quarter
Total operating expenses OperatingExpenses $29.22M USD 1 Quarter
Operating income OperatingIncomeLoss $9.36M USD 1 Quarter
Operating income OperatingIncomeLoss $12.66M USD 1 Quarter
Interest expense InterestExpense $3.51M USD 1 Quarter
Interest expense InterestExpense $2.47M USD 1 Quarter
Interest income InvestmentIncomeInterest $74.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $81.00K USD 1 Quarter
Foreign currency transaction losses ForeignCurrencyTransactionGainLossRealized $-71.00K USD 1 Quarter
Foreign currency transaction losses ForeignCurrencyTransactionGainLossRealized $-529.00K USD 1 Quarter
Loss on early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-134.00K USD 1 Quarter
Loss on early extinguishment of debt GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Equity in (losses) earnings of investees IncomeLossFromEquityMethodInvestments $-59.00K USD 1 Quarter
Equity in (losses) earnings of investees IncomeLossFromEquityMethodInvestments $146.00K USD 1 Quarter
Total other expenses, net NonoperatingIncomeExpense $-3.50M USD 1 Quarter
Total other expenses, net NonoperatingIncomeExpense $-2.97M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $9.68M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $5.86M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $1.89M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $454.00K USD 1 Quarter
Net income ProfitLoss $5.41M USD 1 Quarter
Net income ProfitLoss $7.80M USD 1 Quarter
Less: net income attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest $5.41M USD 1 Quarter
Less: net income attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest $5.39M USD 1 Quarter
Net income attributable to RE/MAX Holdings, Inc. NetIncomeLoss $2.41M USD 1 Quarter
Net income attributable to RE/MAX Holdings, Inc. NetIncomeLoss - USD 1 Quarter
Net income ProfitLoss $5.41M USD 1 Quarter
Net income ProfitLoss $7.80M USD 1 Quarter
Change in cumulative translation adjustment CumulativeTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease $-177.00K USD 1 Quarter
Change in cumulative translation adjustment CumulativeTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease $-108.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-177.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-108.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $7.62M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $5.30M USD 1 Quarter
Less: comprehensive income attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $5.30M USD 1 Quarter
Less: comprehensive income attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $5.28M USD 1 Quarter
Comprehensive income attributable to RE/MAX Holdings, Inc. ComprehensiveIncomeNetOfTax - USD 1 Quarter
Comprehensive income attributable to RE/MAX Holdings, Inc. ComprehensiveIncomeNetOfTax $2.34M USD 1 Quarter
Basic EarningsPerShareBasic $0.21 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.20 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 11.61M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 12.25M shares 1 Quarter
Cash dividends declared per share of Class A common stock CommonStockDividendsPerShareDeclared - USD 1 Quarter
Cash dividends declared per share of Class A common stock CommonStockDividendsPerShareDeclared $0.06 USD 1 Quarter
Cash Flow Statement 64 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $5.41M USD 1 Quarter
Net income ProfitLoss $7.80M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $3.94M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $3.73M USD 1 Quarter
Bad debt expense ProvisionForDoubtfulAccounts $201.00K USD 1 Quarter
Bad debt expense ProvisionForDoubtfulAccounts $189.00K USD 1 Quarter
Loss on early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-134.00K USD 1 Quarter
Loss on early extinguishment of debt GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Equity-based compensation ShareBasedCompensation $380.00K USD 1 Quarter
Equity-based compensation ShareBasedCompensation $258.00K USD 1 Quarter
Non-cash interest expense AmortizationOfFinancingCostsAndDiscounts $288.00K USD 1 Quarter
Non-cash interest expense AmortizationOfFinancingCostsAndDiscounts $89.00K USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement $650.00K USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement $387.00K USD 1 Quarter
Accounts and notes receivable IncreaseDecreaseInAccountsAndNotesReceivable $1.90M USD 1 Quarter
Accounts and notes receivable IncreaseDecreaseInAccountsAndNotesReceivable $1.42M USD 1 Quarter
Advances to affiliates IncreaseDecreaseInDueToAffiliates $-108.00K USD 1 Quarter
Advances to affiliates IncreaseDecreaseInDueToAffiliates $72.00K USD 1 Quarter
Other current and noncurrent assets IncreaseDecreaseInOtherOperatingAssets $-1.30M USD 1 Quarter
Other current and noncurrent assets IncreaseDecreaseInOtherOperatingAssets $-659.00K USD 1 Quarter
Other current and noncurrent liabilities IncreaseDecreaseInOtherOperatingLiabilities $141.00K USD 1 Quarter
Other current and noncurrent liabilities IncreaseDecreaseInOtherOperatingLiabilities $-333.00K USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $416.00K USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $-675.00K USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $9.11M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $12.49M USD 1 Quarter
Purchases of property, equipment and software PaymentsToAcquirePropertyPlantAndEquipment $142.00K USD 1 Quarter
Purchases of property, equipment and software PaymentsToAcquirePropertyPlantAndEquipment $452.00K USD 1 Quarter
Capitalization of trademark costs PaymentsToAcquireIntangibleAssets $25.00K USD 1 Quarter
Capitalization of trademark costs PaymentsToAcquireIntangibleAssets $46.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-477.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-188.00K USD 1 Quarter
Payments on debt RepaymentsOfDebt $575.00K USD 1 Quarter
Payments on debt RepaymentsOfDebt $8.65M USD 1 Quarter
Distributions to non-controlling unitholders DistributionsPaidToNoncontrollingUnitHolders $10.00K USD 1 Quarter
Distributions to non-controlling unitholders DistributionsPaidToNoncontrollingUnitHolders $2.55M USD 1 Quarter
Payments on capital lease obligations RepaymentsOfDebtAndCapitalLeaseObligations $73.00K USD 1 Quarter
Payments on capital lease obligations RepaymentsOfDebtAndCapitalLeaseObligations $54.00K USD 1 Quarter
Deferred offering costs PaymentsOfStockIssuanceCosts - USD 1 Quarter
Deferred offering costs PaymentsOfStockIssuanceCosts $584.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-9.32M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-3.18M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $34.00K USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-43.00K USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $8.79M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-364.00K USD 1 Quarter
Cash and cash equivalents, beginning of year CashAndCashEquivalentsAtCarryingValue $68.14M USD Point-in-time
Cash and cash equivalents, beginning of year CashAndCashEquivalentsAtCarryingValue $68.50M USD Point-in-time
Cash and cash equivalents, beginning of year CashAndCashEquivalentsAtCarryingValue $88.38M USD Point-in-time
Cash and cash equivalents, beginning of year CashAndCashEquivalentsAtCarryingValue $97.17M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $68.14M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $68.50M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $88.38M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $97.17M USD Point-in-time
Cash paid for interest InterestPaid $2.32M USD 1 Quarter
Cash paid for interest InterestPaid $3.21M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaid $1.10M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaid $832.00K USD 1 Quarter
Capital leases for property and equipment CapitalLeaseObligationsIncurred $73.00K USD 1 Quarter
Capital leases for property and equipment CapitalLeaseObligationsIncurred $18.00K USD 1 Quarter
Distributions payable to non-controlling unitholders DistributionsPayableToNonControllingUnitholders $6.10M USD 1 Quarter
Distributions payable to non-controlling unitholders DistributionsPayableToNonControllingUnitholders - USD 1 Quarter
Dividends payable to Class A common stockholders DividendsCommonStockCash $725.00K USD 1 Quarter
Dividends payable to Class A common stockholders DividendsCommonStockCash - USD 1 Quarter
Stockholders Equity 12 line items
Line Item Tag Value Unit Period
Beginning balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $16.59M USD Point-in-time
Beginning balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $15.54M USD Point-in-time
Net income ProfitLoss $5.41M USD 1 Quarter
Net income ProfitLoss $7.80M USD 1 Quarter
Distributions payable to non-controlling unitholders MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $6.10M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $258.00K USD 1 Quarter
Dividends payable to Class A common stockholders DividendsCommonStockCash $725.00K USD 1 Quarter
Dividends payable to Class A common stockholders DividendsCommonStockCash - USD 1 Quarter
Change in accumulated other comprehensive income OtherComprehensiveIncomeLossNetOfTax $-177.00K USD 1 Quarter
Change in accumulated other comprehensive income OtherComprehensiveIncomeLossNetOfTax $-108.00K USD 1 Quarter
Ending balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $16.59M USD Point-in-time
Ending balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $15.54M USD Point-in-time

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

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