Segment Reporting

6 Months Ended

Mar. 31, 2022

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., Tremont Realty Capital and until January 5, 2021, RMR Advisors LLC.

	Three Months Ended March 31, 2022
			All Other
	RMR LLC (1)		Operations		Total
Revenues:
Management services	$	48,151	$	—	$	48,151
Advisory services	—		1,137		1,137
Total management and advisory services revenues	48,151		1,137		49,288
Reimbursable compensation and benefits	12,917		589		13,506
Reimbursable equity based compensation	1,367		—		1,367
Other reimbursable expenses	133,493		—		133,493
Total reimbursable costs	147,777		589		148,366
Total revenues	195,928		1,726		197,654
Expenses:
Compensation and benefits	30,507		1,203		31,710
Equity based compensation	1,852		136		1,988
Separation costs	217		—		217
Total compensation and benefits expense	32,576		1,339		33,915
General and administrative	7,396		1,074		8,470
Other reimbursable expenses	133,493		—		133,493
Depreciation and amortization	233		9		242
Total expenses	173,698		2,422		176,120
Operating income (loss)	22,230		(696)		21,534
Interest and other income	59		7		66
Unrealized (loss) gain on equity method investments accounted for under the fair value option	(5,386)		826		(4,560)
Income before income tax expense	16,903		137		17,040
Income tax expense	—		(2,451)		(2,451)
Net income (loss)	$	16,903	$	(2,314)	$	14,589
Total assets	$	484,347	$	44,232	$	528,579

(1)    Intersegment revenues of $1,081 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, 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.

	Six Months Ended March 31, 2022
			All Other
	RMR LLC (1)		Operations		Total
Revenues:
Management services	$	92,995	$	53	$	93,048
Advisory services	—		2,255		2,255
Total management and advisory services revenues	92,995		2,308		95,303
Reimbursable compensation and benefits	26,669		1,234		27,903
Reimbursable equity based compensation	2,965		—		2,965
Other reimbursable expenses	253,051		—		253,051
Total reimbursable costs	282,685		1,234		283,919
Total revenues	375,680		3,542		379,222
Expenses:
Compensation and benefits	61,163		2,338		63,501
Equity based compensation	3,935		272		4,207
Separation costs	217		—		217
Total compensation and benefits expense	65,315		2,610		67,925
General and administrative	14,070		2,071		16,141
Other reimbursable expenses	253,051		—		253,051
Depreciation and amortization	460		18		478
Total expenses	332,896		4,699		337,595
Operating income (loss)	42,784		(1,157)		41,627
Interest and other income	108		15		123
Unrealized (loss) gain on equity method investments accounted for under the fair value option	(4,248)		884		(3,364)
Income (loss) before income tax expense	38,644		(258)		38,386
Income tax expense	—		(5,505)		(5,505)
Net income (loss)	$	38,644	$	(5,763)	$	32,881
Total assets	$	484,347	$	44,232	$	528,579

(1)    Intersegment revenues of $2,082 recognized by RMR LLC for services provided to our All Other Operations segment have been eliminated in the condensed consolidated financial statements.

	Six Months Ended March 31, 2021
			All Other
	RMR LLC (1)		Operations		Total
Revenues:
Management services	$	80,730	$	259	$	80,989
Incentive business management fees	—		620		620
Advisory services	—		1,715		1,715
Total management and advisory services revenues	80,730		2,594		83,324
Reimbursable compensation and benefits	25,457		927		26,384
Reimbursable equity based compensation	4,209		—		4,209
Other reimbursable expenses	174,593		—		174,593
Total reimbursable costs	204,259		927		205,186
Total revenues	284,989		3,521		288,510
Expenses:
Compensation and benefits	56,976		3,104		60,080
Equity based compensation	5,238		75		5,313
Separation costs	4,159		—		4,159
Total compensation and benefits expense	66,373		3,179		69,552
General and administrative	11,355		2,009		13,364
Other reimbursable expenses	174,593		—		174,593
Transaction and acquisition related costs	364		49		413
Depreciation and amortization	468		21		489
Total expenses	253,153		5,258		258,411
Operating income (loss)	31,836		(1,737)		30,099
Interest and other income	414		21		435
Equity in earnings of investees	—		727		727
Unrealized gain on equity method investment accounted for under the fair value option	4,720		—		4,720
Income (loss) before income tax expense	36,970		(989)		35,981
Income tax expense	—		(4,748)		(4,748)
Net income (loss)	$	36,970	$	(5,737)	$	31,233
Total assets	$	650,539	$	51,090	$	701,629

(1)    Intersegment revenues of $2,202 recognized by RMR LLC for services provided to our All Other Operations segment have been eliminated in the condensed consolidated financial statements.