Segment Reporting

6 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

We have one reportable business segment, which is RMR LLC. In the tables below, our All Other Operations includes the operations of RMR Inc., RMR Advisors and Tremont Advisors.

	Three Months Ended March 31, 2021
			All Other
	RMR LLC (1)		Operations		Total
Revenues:
Management services	$	40,242	$	—	$	40,242
Incentive business management fees	—		620		620
Advisory services	—		1,129		1,129
Total management and advisory services revenues	40,242		1,749		41,991
Reimbursable compensation and benefits	12,668		491		13,159
Reimbursable equity based compensation	1,206		—		1,206
Other reimbursable expenses	75,208		—		75,208
Total reimbursable costs	89,082		491		89,573
Total revenues	129,324		2,240		131,564
Expenses:
Compensation and benefits	29,107		1,479		30,586
Equity based compensation	1,721		31		1,752
Total compensation and benefits expense	30,828		1,510		32,338
General and administrative	6,102		1,002		7,104
Other reimbursable expenses	75,208		—		75,208
Transaction and acquisition related costs	296		—		296
Depreciation and amortization	241		10		251
Total expenses	112,675		2,522		115,197
Operating income (loss)	16,649		(282)		16,367
Interest and other income	196		8		204
Equity in earnings of investees	—		303		303
Unrealized loss on equity method investment accounted for under the fair value option	(3,402)		—		(3,402)
Income before income tax expense	13,443		29		13,472
Income tax expense	—		(1,992)		(1,992)
Net income (loss)	$	13,443	$	(1,963)	$	11,480
Total assets	$	650,539	$	51,090	$	701,629

(1)    Intersegment revenues of $1,060 recognized by RMR LLC for services provided to our All Other Operations segment have been eliminated in the condensed consolidated financial statements.

	Three Months Ended March 31, 2020
			All Other
	RMR LLC (1)		Operations		Total
Revenues:
Management services	$	43,219	$	102	$	43,321
Advisory services	—		780		780
Total management and advisory services revenues	43,219		882		44,101
Reimbursable compensation and benefits	12,793		30		12,823
Reimbursable equity based compensation	(290)		—		(290)
Other reimbursable expenses	84,227		—		84,227
Total reimbursable costs	96,730		30		96,760
Total revenues	139,949		912		140,861
Expenses:
Compensation and benefits	28,923		1,199		30,122
Equity based compensation	257		45		302
Separation costs	385		—		385
Total compensation and benefits expense	29,565		1,244		30,809
General and administrative	6,314		983		7,297
Other reimbursable expenses	84,227		—		84,227
Transaction and acquisition related costs	—		373		373
Depreciation and amortization	235		11		246
Total expenses	120,341		2,611		122,952
Operating income (loss)	19,608		(1,699)		17,909
Interest and other income	1,366		134		1,500
Equity in earnings of investees	—		324		324
Unrealized loss on equity method investment accounted for under the fair value option	(2,200)		—		(2,200)
Income (loss) before income tax expense	18,774		(1,241)		17,533
Income tax expense	—		(2,612)		(2,612)
Net income (loss)	$	18,774	$	(3,853)	$	14,921
Total assets	$	636,994	$	48,930	$	685,924

(1)    Intersegment revenues of $1,090 recognized by RMR LLC for services provided to our All Other Operations segment have been eliminated in the condensed consolidated financial statements.