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Condensed consolidated statements of cash flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net income $ 53,912 $ 35,870
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 17,084 15,845
Amortization of deferred financing costs 973 942
Amortization of favorable leases and asset retirement obligations 186 184
Amortization of interest rate caps 446 954
Deferred tax expense 13,300 14,589
Loss on extinguishment of debt 0 79
Third party debt refinancing expense 0 1,021
Gain on re-measurement of tax benefit arrangement (354) (541)
Provision for bad debts (8) 28
Loss on reacquired franchise rights 350 0
Loss (gain) on disposal of property and equipment 547 (323)
Equity-based compensation 2,687 1,012
Changes in operating assets and liabilities, excluding effects of acquisitions:    
Accounts receivable 22,281 11,542
Due to and due from related parties 3,375 (289)
Inventory (501) 355
Other assets and other current assets (3,109) (3,239)
National advertising fund (1,634) 0
Accounts payable and accrued expenses (16,884) (14,144)
Other liabilities and other current liabilities (2,908) (33)
Income taxes 131 (406)
Payable to related parties pursuant to tax benefit arrangements (21,706) (7,909)
Equipment deposits 2,503 5,390
Deferred revenue 6,229 1,826
Deferred rent 1,594 245
Net cash provided by operating activities 78,494 62,998
Cash flows from investing activities:    
Additions to property and equipment (8,136) (14,127)
Acquisition of franchises (28,503) 0
Proceeds from sale of property and equipment 134 0
Net cash used in investing activities (36,505) (14,127)
Cash flows from financing activities:    
Principal payments on capital lease obligations (23) 0
Repayment of long-term debt (3,592) (3,592)
Payment of deferred financing and other debt-related costs 0 (1,278)
Premiums paid for interest rate caps 0 (366)
Exercise of stock options 400 26
Dividend equivalent payments (138) (139)
Distributions to Continuing LLC Members (3,503) (5,592)
Net cash used in financing activities (6,856) (10,941)
Effects of exchange rate changes on cash and cash equivalents (429) 198
Net increase in cash and cash equivalents 34,704 38,128
Cash and cash equivalents, beginning of period 113,080 40,393
Cash and cash equivalents, end of period 147,784 78,521
Supplemental cash flow information:    
Net cash paid for income taxes 2,929 2,914
Cash paid for interest 16,795 15,890
Non-cash investing activities:    
Non-cash additions to property and equipment $ 2,072 $ 988