RE/MAX Holdings, Inc. RMAX Cash Flow

Re/max holdings, inc. (RMAX)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13
Cash flows from operating activities:
Net income
43,889	46,856	52,177	50,454	48,912	49,822	38,402	30,151	31,099	31,320	40,236	46,999	45,840	46,848	49,223	50,363	52,041	50,775	47,998	46,860	45,311	43,979	41,962	35,604	30,643	28,252	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
23,075	22,323	22,120	22,133	21,661	20,678	20,086	18,764	19,092	20,512	20,290	19,893	18,368	16,094	15,222	15,098	15,034	15,124	15,183	15,185	15,189	15,316	15,595	15,484	15,379	15,166	0	0	0
Bad debt expense
6,960	4,964	4,420	3,994	3,232	2,257	1,530	1,345	1,230	1,109	854	1,673	1,392	1,195	1,055	55	374	433	896	812	634	630	604	644	616	604	0	0	0
Loss (gain) on sale or disposition of assets and sublease, net
-	-	-	-	-	139	0	0	0	-	-	-	-	-	-	-	-	3,650	0	0	0	-	-	-	-	-	-	-	-
Loss on early extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-796	-136	-136	-136	-94	0	0	0	-	-	-	-	-1,798	0	0	0
Equity-based compensation expense
9,069	10,934	7,895	11,599	11,959	9,176	6,880	5,031	3,606	2,900	2,679	2,312	2,126	2,330	2,167	2,096	2,077	1,453	2,568	2,338	1,886	2,002	2,826	2,626	2,873	2,995	0	0	0
Non-cash interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	416	388	373	365	409	474	660	859	0	0	0
Deferred income tax expense
3,470	2,310	9,638	9,972	10,114	9,511	47,612	47,317	47,231	47,931	3,945	3,512	3,392	3,367	3,944	3,977	3,003	2,531	2,374	1,635	1,896	1,865	1,492	1,469	665	402	0	0	0
Fair value adjustments to contingent consideration
-194	241	-99	-1,024	-1,494	-1,289	-930	430	185	180	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments pursuant to tax receivable agreements
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
245	-910	-1,065	-1,245	-1,651	-1,127	-1,160	-1,482	-1,158	-1,146	-1,115	-941	-922	-1,029	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities
0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities
Accounts and notes receivable, current portion
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	999	1,588	1,440	1,689	1,466	898	1,713	1,063	585	0	0	0
Advances from/to affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-771	107	184	93	-161	217	-204	237	57	0	0	0
Other current and noncurrent assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-502	-290	851	76	-100	-179	66	600	1,245	0	0	0
Other current and noncurrent liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,253	5,363	4,706	2,628	1,816	-2,489	-1,699	1,100	1,574	0	0	0
Deferred revenue, current and noncurrent
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	866	1,184	1,521	2,228	1,094	1,472	965	652	-439	0	0	0
Net cash provided by operating activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	74,312	-	75,399	71,570	67,474	64,445	62,177	56,056	53,457	50,069	0	0	0
Net cash provided by operating activities
70,183	78,975	74,229	75,117	84,933	76,064	66,870	64,277	62,765	63,288	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-
Cash flows from investing activities:
Purchases of property, equipment and capitalization of software
11,251	13,226	12,564	13,724	11,036	7,787	5,733	2,316	2,232	2,198	3,054	3,719	3,770	4,502	4,791	4,815	4,682	3,628	3,075	2,243	1,909	2,026	1,449	1,328	1,418	1,108	0	0	0
Proceeds from sale of property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-
Capitalization of trademark costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	72	-	92	105	120	122	149	199	211	232	0	0	0
Acquisitions, net of cash acquired of $55, $362 and $0, respectively
-	-	-	-	-	25,888	0	0	0	-	-	-	-	112,934	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Restricted cash acquired with the Marketing Funds acquisition
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restricted cash acquired with the Marketing Funds acquisition
-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
0	1,200	1,200	1,200	1,200	0	0	0	0	-	-	-	-	96	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-7,705	-	-3,098	-2,284	-1,914	-2,043	-28,891	-28,816	-28,916	-28,627	0	0	0
Net cash (used in) provided by investing activities
-26,196	-876	14,731	13,571	16,621	-33,675	-67,341	-63,924	-64,202	-37,918	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-
Cash flows from financing activities:
Payments on debt
2,629	2,622	2,753	2,928	3,232	3,171	0	0	0	-	-	-	-	203,298	0	0	278	-	285	255	221	204	0	0	0	-	0	0	0
Payments on debt
-	-	-	-	-	-	-	-	-	-	-	0	190,643	-	15,062	15,096	15,129	9,722	9,418	9,436	24,081	16,816	16,853	241,098	226,583	234,658	0	0	0
Capitalized debt amendment costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	555	0	0	0	-	-	-	-	-	-	-	-
Distributions paid to non-controlling unitholders
15,514	15,430	14,760	14,047	14,731	14,559	14,306	14,107	17,500	17,260	18,046	19,986	18,324	17,927	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
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
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,972	0	0	0
Distributions to non-controlling unitholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	25,811	21,368	30,156	27,614	0	0	0
Dividends and dividend equivalents paid to Class A common stockholders
15,567	15,074	14,846	14,619	14,493	14,306	13,944	13,580	13,204	12,793	12,253	11,715	11,124	10,578	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,248	0	0	0	-	-	-	-	-	-	-	-
Payments related to tax withholding for share-based compensation
2,665	1,110	836	731	1,044	895	895	895	930	816	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of contingent consideration
-	-	-	-	-	221	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-36,681	-34,542	-33,366	-32,496	-33,671	-33,152	-32,171	-31,372	-34,050	-33,235	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-
Net cash used in financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-85,388	-	-74,367	-73,316	-47,826	-43,413	-8,529	-1,321	4,585	-1,551	0	0	0
Effect of exchange rate changes on cash
-204	70	24	82	12	-70	-31	541	952	1,063	825	93	-276	122	143	-150	-92	-823	-692	-314	-357	-165	69	119	-94	-17	0	0	0
Net increase in cash, cash equivalents and restricted cash
7,102	43,627	55,618	56,274	67,895	9,167	-32,673	-30,478	-34,535	-6,802	-18,045	-27,257	-31,035	-52,603	6,611	17,298	-18,873	3,013	-2,758	-4,344	17,377	18,824	39,545	26,038	29,032	19,874	0	0	0
Supplemental disclosures of cash flow information:
Cash paid for interest
11,295	11,690	12,042	11,857	11,891	11,525	10,982	10,684	9,957	9,972	9,079	8,450	8,117	7,797	8,388	8,669	8,887	9,319	9,314	9,274	9,268	8,880	9,018	11,902	12,883	13,769	0	0	0
Net cash paid for income taxes
7,779	8,429	6,999	5,913	6,281	5,769	6,261	6,255	10,287	10,078	11,039	13,519	11,667	11,912	11,281	9,431	6,248	5,841	5,749	6,691	8,270	8,521	7,502	5,358	2,575	2,310	0	0	0
Schedule of non-cash investing activities:
Distributions payable to non-controlling unitholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0
Note receivable received as consideration for sale of brokerage operations assets
-	-	-	-	-	-	-	-	-	-	-	-	-	150	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Capital lease for property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	412	412	412	18	363	439	526	581	0	0	0
Increase in accounts payable for capitalization of trademark costs and purchases of property, equipment and software
-	-	-	-	-	-	-	-	-	-	371	-276	-172	150	375	833	975	667	0	0	0	-	-	-	0	-	-	-	-
Property, equipment, software and trademarks included in accounts payable and accrued liabilities
-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Schedule of non-cash investing activities:
Tax and other distributions payable to non-controlling unitholders
-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-
Dividends payable to Class A common stockholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0