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Note 4 - Discontinued Operations | 12 Months Ended
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Dec. 31, 2016
Notes to Financial Statements |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] |
4. |  | Discontinued operations
There were no discontinued operations during the year ended December 31, 2016. Discontinued operations of prior years include three businesses: (i) FirstService (which comprises Old FSV’s Residential Real Estate Services and Property Services segments); (ii) a residential real estate rental operation (previously reported in Old FSV’s Residential Real Estate Services segment); and (iii) a US-based commercial real estate consulting operation (previously reported in Old FSV’s Commercial Real Estate Services segment). The Spin-off of FirstService was completed on June 1, 2015, resulting in the distribution of one FirstService share of the same class as each Old FSV share previously held to all shareholders. The Spin-off distribution was accounted for at the carrying amount, without gain or loss, and resulted in a reduction of shareholders’ equity of $138,396. Colliers and FirstService were separated into two independent public companies to enable each company to intensify its focus on its distinct brand, customers and industry dynamics and also have the flexibility to pursue independent value creation strategies while optimizing its capital structure and financial resources. In April 2014, the Company completed the sale of its REO rental operation for cash consideration of $1,500. The pre-tax loss on disposal was $1,601, before income tax recovery of $773 resulting in a net loss of $828. In July 2014, the Company completed the sale of a US-based commercial real estate consulting operation for cash consideration of $12,100. The pre-tax gain on disposal was $6,607, before income tax expense of $3,023 resulting in a net gain of $3,584.
|  | 2016 |  | 2015 |  | 2014
Revenues |  | $ | - |  |  | $ | 479,636 |  |  | $ | 1,132,002 |
Cost of revenues |  |  | - |  |  |  | 340,941 |  |  |  | 800,046 |
Selling, general and administrative expenses |  |  | - |  |  |  | 106,894 |  |  |  | 249,481 |
Depreciation |  |  | - |  |  |  | 7,566 |  |  |  | 17,634 |
Amortization of intangible assets |  |  | - |  |  |  | 4,253 |  |  |  | 8,744 |
Acquisition-related items |  |  | - |  |  |  | 214 |  |  |  | 723 |
Operating earnings |  |  | - |  |  |  | 19,768 |  |  |  | 55,374 |
Interest expense, net |  |  | - |  |  |  | 993 |  |  |  | 6,932 |
Other expense |  |  | - |  |  |  | 147 |  |  |  | 255 |
Earnings before income tax |  |  | - |  |  |  | 18,628 |  |  |  | 48,187 |
Income tax expense |  |  | - |  |  |  | 9,216 |  |  |  | 13,593 |
Net operating earnings from discontinued operations |  |  | - |  |  |  | 9,412 |  |  |  | 34,594 |
Net gain on disposal |  |  | - |  |  |  | - |  |  |  | 2,756 |
Net earnings from discontinued operations |  | $ | - |  |  | $ | 9,412 |  |  | $ | 37,350 |
Non-controlling interest share of earnings |  |  | - |  |  |  | 4,566 |  |  |  | 3,426 |
Non-controlling interest redemption increment |  |  | - |  |  |  | 3,742 |  |  |  | 10,117 |
Net earnings from discontinued operations attributable to Company |  | $ | - |  |  | $ | 1,104 |  |  | $ | 23,807 |
Net earnings per share from discontinued operations |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | - |  |  | $ | 0.03 |  |  | $ | 0.66 |
Diluted |  |  | - |  |  |  | 0.03 |  |  |  | 0.65 |

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