Subsequent Events

3 Months Ended

Mar. 31, 2016

Subsequent Events [Abstract]

Subsequent Events

SUBSEQUENT EVENTS

HomeSmart

On April 5, 2016, the Company entered into an agreement to sell the 82 Company-operated HomeSmart stores. The transaction is expected to close in May, subject to customary closing conditions. During the current quarter, the Company recognized a loss of $4.6 million related to the write-down of the HomeSmart Disposal Group to its fair value less estimated costs to sell. The Company expects that any additional charges associated with the sale of HomeSmart would not be significant to future results.

Amendments to DAMI Credit Facility

On May 5, 2016, the Company entered into the eleventh amendment to the 2011 loan and security agreement assumed in the October 2015 DAMI acquisition (the DAMI Credit Facility). Among other things, the amendment changed the EBITDA ratio DAMI is required to maintain. DAMI was in compliance with the amended financial covenants as of March 31, 2016.