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Segments (Tables)
12 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Summary of Financial Information for the Company's Reportable Segments

The tables below summarize the financial information for the Company’s reportable segments for the years ended December 31, 2016, 2015 and 2014. The “Corporate and other” column, as it relates to Segment EBITDA, primarily includes corporate overhead costs, such as payroll and related benefit costs and professional services which are not directly attributable to any individual segment.

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

Franchise segment revenue - U.S.

 

$

114,717

 

 

$

87,299

 

 

$

71,806

 

Franchise segment revenue - International

 

 

1,771

 

 

 

786

 

 

 

 

Franchise segment total

 

 

116,488

 

 

 

88,085

 

 

 

71,806

 

Corporate-owned stores segment - U.S.

 

 

100,541

 

 

 

95,459

 

 

 

85,022

 

Corporate-owned stores segment - International

 

 

4,180

 

 

 

2,931

 

 

 

19

 

Corporate-owned stores segment total

 

 

104,721

 

 

 

98,390

 

 

 

85,041

 

Equipment segment - U.S.

 

 

157,032

 

 

 

144,062

 

 

 

122,930

 

Equipment segment total

 

 

157,032

 

 

 

144,062

 

 

 

122,930

 

Total revenue

 

$

378,241

 

 

$

330,537

 

 

$

279,777

 

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Segment EBITDA

 

 

 

 

 

 

 

 

 

 

 

 

Franchise

 

$

97,256

 

 

$

66,030

 

 

$

53,109

 

Corporate-owned stores

 

 

40,847

 

 

 

36,070

 

 

 

31,705

 

Equipment

 

 

36,439

 

 

 

31,936

 

 

 

26,447

 

Corporate and other

 

 

(26,007

)

 

 

(30,051

)

 

 

(18,642

)

Total Segment EBITDA

 

$

148,535

 

 

$

103,985

 

 

$

92,619

 

 

Reconciliation of Total Segment EBITDA to Income Before Taxes

The following table reconciles total Segment EBITDA to income before taxes:

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Total Segment EBITDA

 

$

148,535

 

 

$

103,985

 

 

$

92,619

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

31,502

 

 

 

32,158

 

 

 

32,341

 

Other expense

 

 

1,371

 

 

 

(275

)

 

 

(1,261

)

Income from operations

 

 

115,662

 

 

 

72,102

 

 

 

61,539

 

Interest expense, net

 

 

(27,125

)

 

 

(24,549

)

 

 

(21,800

)

Other income (expense)

 

 

1,371

 

 

 

(275

)

 

 

(1,261

)

Income before income taxes

 

$

89,908

 

 

$

47,278

 

 

$

38,478

 

 

Summary of Company's Assets by Reportable Segment

The following table summarizes the Company’s assets by reportable segment:

 

 

 

December 31, 2016

 

 

December 31, 2015

 

Franchise

 

$

202,580

 

 

$

206,997

 

Corporate-owned stores

 

 

153,761

 

 

 

151,620

 

Equipment

 

 

208,809

 

 

 

208,168

 

Unallocated

 

 

436,292

 

 

 

132,392

 

Total consolidated assets

 

$

1,001,442

 

 

$

699,177

 

 

Summary of Company's Goodwill by Reportable Segment

The following table summarizes the Company’s goodwill by reportable segment:

 

 

 

December 31, 2016

 

 

December 31, 2015

 

Franchise

 

$

16,938

 

 

$

16,938

 

Corporate-owned stores

 

 

67,377

 

 

 

67,377

 

Equipment

 

 

92,666

 

 

 

92,666

 

Total consolidated goodwill

 

$

176,981

 

 

$

176,981