Re/max holdings, inc. (RMAX)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13
Cash flows from operating activities:
Net income

5,290

5,202

17,264

16,133

8,257

10,523

15,541

14,591

9,167

-897

7,290

15,539

9,388

8,019

14,053

14,380

10,396

10,394

15,193

16,058

9,130

7,617

14,055

14,509

7,798

5,600

7,697

9,548

5,407

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

6,310

5,629

5,595

5,541

5,558

5,426

5,608

5,069

4,575

4,834

4,286

5,397

5,995

4,612

3,889

3,872

3,721

3,740

3,765

3,808

3,811

3,799

3,767

3,812

3,938

4,078

3,656

3,707

3,725

Bad debt expense

3,435

1,544

860

1,121

1,439

1,000

434

359

464

273

249

244

343

18

1,068

-37

146

-122

68

282

205

341

-16

104

201

315

24

76

189

Loss (gain) on sale or disposition of assets and sublease, net

-

-

-

-

-

-7

5

113

28

-

-

-

-

-

-

-

-

3,044

-9

617

-2

-

-

-

-

-

-

-

-

Loss on early extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-660

0

0

-136

0

0

0

-94

-

-

-

-

0

-1,664

0

-134

Equity-based compensation expense

2,186

6,074

-987

1,796

4,051

3,035

2,717

2,156

1,268

739

868

731

562

518

501

545

766

355

430

526

142

1,470

200

74

258

2,294

0

321

380

Non-cash interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

115

112

97

92

87

97

89

136

152

283

288

Deferred income tax expense

2,241

-1,320

1,109

1,440

1,081

6,008

1,443

1,582

478

44,109

1,148

1,496

1,178

123

715

1,376

1,153

700

748

402

681

543

9

663

650

170

-14

-141

387

Fair value adjustments to contingent consideration

-505

-89

-15

415

-70

-429

-940

-55

135

-70

420

-300

130

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments pursuant to tax receivable agreements

-

-

-

-

-

-

-

-

-

-

-

-

1,931

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other, net

504

-70

-155

-34

-651

-225

-335

-440

-127

-258

-657

-116

-115

-227

-483

-97

-222

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities

4,804

-

1,767

13,447

-1,474

-

-3,006

3,671

2,614

-

-9,018

6,308

1,685

-

-2,558

5,679

4,062

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities
Accounts and notes receivable, current portion

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,114

-1,403

1,395

2,121

-525

-1,551

1,644

1,898

-1,093

-736

994

1,420

Advances from/to affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,073

-31

7

326

-195

46

-84

72

183

-375

357

-108

Other current and noncurrent assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,082

-681

225

-1,128

1,294

460

-550

-1,304

1,215

705

-16

-659

Other current and noncurrent liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,842

1,298

-366

479

3,952

641

-2,444

-333

-353

1,431

355

141

Deferred revenue, current and noncurrent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-449

-661

426

1,550

-131

-324

1,133

416

247

-831

820

-675

Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

14,554

12,478

-

23,385

21,043

15,524

15,447

19,556

16,947

12,495

13,179

13,435

14,348

9,107

Net cash provided by operating activities

13,649

23,788

22,204

10,542

22,441

19,042

23,092

20,358

13,572

9,848

20,499

18,846

14,095

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

Cash flows from investing activities:
Purchases of property, equipment and capitalization of software

1,965

3,133

2,715

3,438

3,940

2,471

3,875

750

691

417

458

666

657

1,273

1,123

717

1,389

1,562

1,147

584

335

1,009

315

250

452

432

194

340

142

Proceeds from sale of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6

1

10

-

-

-

-

-

-

-

-

Capitalization of trademark costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

19

3

13

-

20

18

23

31

33

33

25

58

83

45

46

Acquisitions, net of cash acquired of $55, $362 and $0, respectively

-

-

-

-

-

0

0

-362

26,250

-

-

-

-

95,065

8,000

1,500

8,369

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash acquired with the Marketing Funds acquisition

0

-

-

-

28,495

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash acquired with the Marketing Funds acquisition

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

0

0

0

0

1,200

0

0

0

0

-

-

-

-

150

0

0

-54

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,220

-9,717

-

-1,161

-652

-348

-937

-347

-282

-477

-27,785

-272

-382

-188

Net cash (used in) provided by investing activities

-1,965

-18,078

-2,715

-3,438

23,355

-2,471

-3,875

-388

-26,941

-36,137

-458

-666

-657

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

Cash flows from financing activities:
Payments on debt

660

658

653

658

653

789

828

962

592

-

-

-

-

203,226

21

24

27

-

83

83

71

48

53

49

54

-

53

85

73

Payments on debt

-

-

-

-

-

-

-

-

-

-

-

588

592

-

486

487

13,247

842

520

520

7,840

538

538

15,165

575

575

224,783

650

8,650

Capitalized debt amendment costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

555

-

-

-

-

-

-

-

-

Distributions paid to non-controlling unitholders

2,777

3,970

4,154

4,613

2,693

3,300

3,441

5,297

2,521

3,047

3,242

8,690

2,281

3,833

5,182

7,028

1,884

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of Class A common stock in initial public offering

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

Payments of costs directly associated with issuance of Class A common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,156

2,305

1,927

584

Distributions to non-controlling unitholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,456

34,292

65

-

4,444

11,885

2,552

6,930

1

20,673

10

Dividends and dividend equivalents paid to Class A common stockholders

4,275

3,776

3,776

3,740

3,782

3,548

3,549

3,614

3,595

3,186

3,185

3,238

3,184

2,646

2,647

2,647

2,638

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

216

19

1,076

937

-

-

-

-

-

-

-

-

Payments related to tax withholding for share-based compensation

2,268

274

105

18

713

0

0

331

564

0

0

366

450

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of contingent consideration

-

-

-

-

-

171

0

0

50

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-9,980

-8,984

-8,688

-9,029

-7,841

-7,808

-7,818

-10,204

-7,322

-6,827

-7,019

-12,882

-6,507

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

Net cash used in financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-10,445

-17,796

-

-6,702

-54,731

-7,594

-5,340

-5,651

-29,241

-3,181

29,544

1,557

-23,335

-9,317

Effect of exchange rate changes on cash

-205

-6

-33

40

69

-52

25

-30

-13

-13

597

381

98

-251

-135

12

496

-230

-428

70

-235

-99

-50

27

-43

135

0

-186

34

Net increase in cash, cash equivalents and restricted cash

1,499

-3,280

10,768

-1,885

38,024

8,711

11,424

9,736

-20,704

-33,129

13,619

5,679

7,029

-44,372

4,407

1,901

-14,539

14,842

15,094

-34,270

7,347

9,071

13,508

-12,549

8,794

29,792

0

-9,555

-364

Supplemental disclosures of cash flow information:
Cash paid for interest

2,556

2,686

3,056

2,997

2,951

3,038

2,871

3,031

2,585

2,495

2,573

2,304

2,600

1,602

1,944

1,971

2,280

2,193

2,225

2,189

2,712

2,188

2,185

2,183

2,324

2,326

5,069

3,164

3,210

Net cash paid for income taxes

1,079

2,397

2,147

2,156

1,729

967

1,061

2,524

1,217

1,459

1,055

6,556

1,008

2,420

3,535

4,704

1,253

1,789

1,685

1,521

846

1,697

2,627

3,100

1,097

678

483

317

832

Schedule of non-cash investing activities:
Distributions payable to non-controlling unitholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,100

-

-

-

0

Note receivable received as consideration for sale of brokerage operations assets

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

150

-

-

-

-

-

-

-

-

-

-

-

-

Capital lease for property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

412

0

0

0

18

345

76

87

73

Increase in accounts payable for capitalization of trademark costs and purchases of property, equipment and software

-

-

-

-

-

-

-

-

-

-

111

65

134

61

-536

169

456

286

-78

311

148

-

-

-

60

-

-

-

-

Property, equipment, software and trademarks included in accounts payable and accrued liabilities

-

-

-

-

-

-

-

53

206

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Schedule of non-cash investing activities:
Tax and other distributions payable to non-controlling unitholders

-

-

-

-

-

-

-

-

1,691

-

-

-

3,568

-

-

-

3,003

-

-

-

30,830

-

-

-

-

-

-

-

-

Dividends payable to Class A common stockholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0