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Non-controlling Interest | 6 Months Ended
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Jun. 30, 2023
Non-controlling Interest. |
Non-controlling Interest | 3. Non-controlling Interest Holdings is the sole managing member of RMCO and operates and controls all the business affairs of RMCO. The ownership of the common units in RMCO is summarized as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2023 | ​ | December 31, 2022 | ​
​ | ​ | Shares | ​ | Ownership % | ​ | Shares | ​ | Ownership % | ​
Non-controlling interest ownership of common units in RMCO | ​ | 12,559,600 | ​ | 40.9 | % | 12,559,600 | ​ | 41.3 | %
Holdings outstanding Class A common stock (equal to Holdings common units in RMCO) | ​ | 18,126,616 | ​ | 59.1 | % | 17,874,238 | ​ | 58.7 | %
Total common units in RMCO | ​ | 30,686,216 | ​ | 100.0 | % | 30,433,838 | ​ | 100.0 | %
​ The weighted average ownership (“WAO”) percentages for the applicable reporting periods are used to calculate the “Net income (loss) attributable to RE/MAX Holdings, Inc.” A reconciliation of “Income (loss) before provision for income taxes” to “Net income (loss) attributable to RE/MAX Holdings, Inc.” and “Net Income (loss) attributable to non-controlling interest” in the accompanying Condensed Consolidated Statements of Income (Loss) for the periods indicated is detailed as follows (in thousands, except percentages): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30, | ​
​ | ​ | 2023 | ​ | 2022 | ​
​ | ​ | RE/MAX Holdings, Inc. |  | Non-controlling interest |  | Total |  | RE/MAX Holdings, Inc. |  | Non-controlling interest |  | Total | ​
Weighted average ownership percentage of RMCO(a) | ​ | ​ | 59.1 | % | ​ | 40.9 | % | ​ | 100.0 | % | ​ | 60.2 | % | ​ | 39.8 | % | ​ | 100.0 | %
Income (loss) before provision for income taxes(a) | ​ | $ | 3,340 | ​ | $ | 2,326 | ​ | $ | 5,666 | ​ | $ | 7,750 | ​ | $ | 5,126 | ​ | $ | 12,876 | ​
(Provision) / benefit for income taxes(b)(c) | ​ | ​ | (1,330) | ​ | ​ | (1,092) | ​ | ​ | (2,422) | ​ | ​ | (1,921) | ​ | ​ | (680) | ​ | ​ | (2,601) | ​
Net income (loss) | ​ | $ | 2,010 | ​ | $ | 1,234 | ​ | $ | 3,244 | ​ | $ | 5,829 | ​ | $ | 4,446 | ​ | $ | 10,275 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended June 30,
​ | ​ | 2023 | ​ | 2022 | ​
​ | ​ | RE/MAX Holdings, Inc. |  | Non-controlling interest |  | Total |  | RE/MAX Holdings, Inc. |  | Non-controlling interest |  | Total | ​
Weighted average ownership percentage of RMCO(a) | ​ | ​ | 58.9 | % | ​ | 41.1 | % | ​ | 100.0 | % | ​ | 60.2 | % | ​ | 39.8 | % | ​ | 100.0 | %
Income (loss) before provision for income taxes(a) | ​ | $ | 3,172 | ​ | $ | 2,207 | ​ | $ | 5,379 | ​ | $ | 10,235 | ​ | $ | 6,791 | ​ | $ | 17,026 | ​
(Provision) / benefit for income taxes(b) | ​ | ​ | (1,833) | ​ | ​ | (981) | ​ | ​ | (2,814) | ​ | ​ | (2,955) | ​ | ​ | (851) | ​ | ​ | (3,806) | ​
Net income (loss) | ​ | $ | 1,339 | ​ | $ | 1,226 | ​ | $ | 2,565 | ​ | $ | 7,280 | ​ | $ | 5,940 | ​ | $ | 13,220 | ​
(a) | The WAO percentage of RMCO differs from the allocation of income (loss) before provision for income taxes between Holdings and the non-controlling interest due to certain relatively insignificant items recorded at Holdings.
(b) | The provision for income taxes attributable to Holdings is primarily comprised of U.S. federal and state income taxes on its proportionate share of the flow-through income from RMCO. It also includes Holdings’ share of taxes directly incurred by RMCO and its subsidiaries, including taxes in certain foreign jurisdictions. See Note 9, Income Taxes for additional information.
Distributions and Other Payments to Non-controlling Unitholders Under the terms of RMCO’s limited liability company operating agreement, RMCO makes cash distributions to non-controlling unitholders on a pro-rata basis. The distributions paid or payable to non-controlling unitholders are summarized as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​
​ | Six Months Ended
​ | June 30,
​ | 2023 | ​ | 2022
Tax distributions | $ | — | ​ | $ | 1,645
Dividend distributions | ​ | 5,778 | ​ | ​ | 5,778
Total distributions to non-controlling unitholders | $ | 5,778 | ​ | $ | 7,423
​

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- Definition The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 810 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//810/tableOfContent + Details
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