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Summary of Significant Accounting Policies (Tables) | 6 Months Ended
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Jun. 30, 2023
Summary of Significant Accounting Policies |
Schedule of deferred revenue for franchise sales and annual dues | The activity consists of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Balance at | ​ | ​ | ​ | Revenue | ​ | Balance at
​ | ​ | January 1, 2023 | ​ | New billings | ​ | recognized (a) | ​ | June 30, 2023
Franchise sales | ​ | $ | 25,281 | ​ | $ | 3,815 | ​ | $ | (4,580) | ​ | $ | 24,516
Annual dues | ​ | ​ | 14,164 | ​ | ​ | 17,549 | ​ | ​ | (17,205) | ​ | ​ | 14,508
Other | ​ | ​ | 6,626 | ​ | ​ | 9,975 | ​ | ​ | (13,712) | ​ | ​ | 2,889
​ | ​ | $ | 46,071 | ​ | $ | 31,339 | ​ | $ | (35,497) | ​ | $ | 41,913
​
(a) | Revenue recognized related to the beginning balance for Franchise sales and Annual dues were $4.3 million and $10.7 million, respectively, for the six months ended June 30, 2023.
Schedule of commissions related to franchise sales | The activity in the Company’s capitalized contract costs for commissions (which are included in “other current assets” and “other assets, net of current portion” on the Condensed Consolidated Balance Sheets) consist of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Additions to | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Balance at | ​ | contract cost | ​ | Expense | ​ | Balance at
​ | ​ | January 1, 2023 | ​ | for new activity | ​ | recognized | ​ | June 30, 2023
Capitalized contract costs for commissions | ​ | $ | 3,974 | ​ | $ | 1,462 | ​ | $ | (1,171) | ​ | $ | 4,265
Schedule of transaction price allocated to the remaining performance obligations | The following table includes estimated revenue by year, excluding certain other immaterial items, expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Remainder of 2023 | ​ | 2024 | ​ | 2025 | ​ | 2026 | ​ | 2027 | ​ | 2028 | ​ | Thereafter | ​ | Total
Annual dues | $ | 11,295 | ​ | $ | 3,213 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 14,508
Franchise sales | ​ | 3,581 | ​ | ​ | 6,365 | ​ | ​ | 5,175 | ​ | ​ | 3,816 | ​ | ​ | 2,393 | ​ | ​ | 1,114 | ​ | ​ | 2,072 | ​ | ​ | 24,516
Total | $ | 14,876 | ​ | $ | 9,578 | ​ | $ | 5,175 | ​ | $ | 3,816 | ​ | $ | 2,393 | ​ | $ | 1,114 | ​ | $ | 2,072 | ​ | $ | 39,024
Schedule of disaggregated revenue | In the following table, segment revenue is disaggregated by Company-Owned or Independent Regions, where applicable, by segment and by geographical area (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, | ​ | June 30,
​ | ​ | 2023 | ​ | 2022 | ​ | 2023 | ​ | 2022
U.S. Company-Owned Regions | ​ | $ | 36,075 | ​ | $ | 42,733 | ​ | $ | 69,936 | ​ | $ | 81,887
U.S. Independent Regions | ​ | ​ | 1,752 | ​ | ​ | 1,877 | ​ | ​ | 3,228 | ​ | ​ | 3,578
Canada Company-Owned Regions | ​ | ​ | 10,541 | ​ | ​ | 11,434 | ​ | ​ | 20,339 | ​ | ​ | 21,909
Canada Independent Regions | ​ | ​ | 723 | ​ | ​ | 715 | ​ | ​ | 1,447 | ​ | ​ | 1,418
Global | ​ | ​ | 3,204 | ​ | ​ | 3,193 | ​ | ​ | 6,402 | ​ | ​ | 6,285
Fee revenue (a) | ​ | ​ | 52,295 | ​ | ​ | 59,952 | ​ | ​ | 101,352 | ​ | ​ | 115,077
Franchise sales and other revenue (b) | ​ | ​ | 5,264 | ​ | ​ | 5,824 | ​ | ​ | 16,837 | ​ | ​ | 15,436
Total Real Estate | ​ | ​ | 57,559 | ​ | ​ | 65,776 | ​ | ​ | 118,189 | ​ | ​ | 130,513
U.S. | ​ | ​ | 16,100 | ​ | ​ | 17,641 | ​ | ​ | 32,405 | ​ | ​ | 35,200
Canada | ​ | ​ | 4,721 | ​ | ​ | 4,988 | ​ | ​ | 9,484 | ​ | ​ | 10,001
Global | ​ | ​ | 256 | ​ | ​ | 280 | ​ | ​ | 530 | ​ | ​ | 559
Total Marketing Funds | ​ | ​ | 21,077 | ​ | ​ | 22,909 | ​ | ​ | 42,419 | ​ | ​ | 45,760
Mortgage (c) | ​ | ​ | 3,616 | ​ | ​ | 3,115 | ​ | ​ | 6,804 | ​ | ​ | 6,143
Other (c) | ​ | ​ | 195 | ​ | ​ | 372 | ​ | ​ | 436 | ​ | ​ | 760
Total | ​ | $ | 82,447 | ​ | $ | 92,172 | ​ | $ | 167,848 | ​ | $ | 183,176
(a) | Fee revenue includes Continuing franchise fees, Annual dues and Broker fees.
(b) | Franchise sales and other revenue is derived primarily within the U.S.
(c) | Revenue from Mortgage and Other are derived exclusively within the U.S.
Schedule of reconciliation of cash, both unrestricted and restricted | The following table reconciles the amounts presented for cash, both unrestricted and restricted, in the Condensed Consolidated Balance Sheets to the amounts presented in the Condensed Consolidated Statements of Cash Flows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2023 | ​ | December 31, 2022
Cash and cash equivalents | ​ | $ | 96,757 | ​ | $ | 108,663
Restricted cash | ​ | ​ | 17,679 | ​ | ​ | 29,465
Total cash, cash equivalents and restricted cash | ​ | $ | 114,436 | ​ | $ | 138,128
Schedule of cost charges to intersegment | Costs charged from Real Estate to the Marketing Funds are as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, | ​ | June 30,
​ | ​ | 2023 | ​ | 2022 | ​ | 2023 | ​ | 2022
Technology − operating | ​ | $ | 1,169 | ​ | $ | 3,519 | ​ | $ | 2,338 | ​ | $ | 7,743
Technology − capital(a) | ​ | ​ | — | ​ | ​ | 530 | ​ | ​ | (203) | ​ | ​ | 1,161
Marketing staff and administrative services | ​ | ​ | 1,483 | ​ | ​ | 1,140 | ​ | ​ | 2,975 | ​ | ​ | 2,681
Total | ​ | $ | 2,652 | ​ | $ | 5,189 | ​ | $ | 5,110 | ​ | $ | 11,585
(a) | During the first quarter of 2023, the Company determined that certain development projects were no longer needed and therefore $0.2 million, reflecting the cost of work in process assets that would no longer be placed in service, was refunded to the Marketing Funds.

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