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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 24,669 $ 18,808
Accounts receivable (less allowance for doubtful accounts of $6,660 and $4,552 as of March 31, 2020 and December 31, 2019, respectively) 1,798 2,980
Prepaid corporate income taxes 9,434 865
Prepaid expenses and other current assets 18,668 10,148
Total current assets 54,569 32,801
Fixed assets, net 96,175 146,884
Operating lease right-of-use assets, net 484,138 563,372
Goodwill 16,569 32,988
Intangible assets, net 6,538 8,220
Deferred membership costs 976 1,009
Other assets 8,147 9,004
Total assets 667,112 794,278
Current liabilities:    
Current portion of long-term debt 190,917 178,433
Current portion of mortgage and term loan 197 197
Current portion of operating lease liabilities 74,106 74,279
Accounts payable 8,729 4,458
Accrued expenses 26,613 34,568
Accrued interest 24 27
Deferred revenue 51,775 36,047
Total current liabilities 352,361 328,009
Long-term debt 3,864 4,358
Long-term mortgage and term loan 4,988 5,039
Long-term operating lease liabilities 516,681 532,977
Deferred revenue 75 89
Other liabilities 11,909 12,151
Total liabilities 889,878 882,623
Commitments and Contingencies (Note 15)
Stockholders’ deficit:    
Preferred stock, $0.001 par value; no shares issued and outstanding at both March 31, 2020 and December 31, 2019
Common stock, $0.001 par value; issued and outstanding 29,481,474 and 29,425,557 shares at March 31, 2020 and December 31, 2019, respectively 27 26
Additional paid-in capital 2,979 1,919
Accumulated other comprehensive income 1,924 1,909
Accumulated deficit (228,093) (91,770)
Total Town Sports International Holdings, Inc. and Subsidiaries stockholders’ deficit (223,163) (87,916)
Non-controlling interests 397 (429)
Total stockholders’ deficit (222,766) (88,345)
Total liabilities and stockholders’ deficit $ 667,112 $ 794,278