Variable interest entities

12 Months Ended

Dec. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable interest entities

Variable interest entities

The carrying values of VIEs included in the consolidated financial statements as of December 31, 2018 and December 31, 2017 are as follows:

	December 31, 2018				December 31, 2017
	Assets		Liabilities		Assets		Liabilities
PF Melville	$	4,787	$	—	$	4,420	$	—
MMR	$	3,563	—		$	3,360	—
Total	$	8,350	$	—	$	7,780	$	—

The Company also has variable interests in certain franchisees through the guarantee of certain lease agreements. The Company’s maximum obligation, as a result of its guarantees of leases, is approximately $732 and $979 as of December 31, 2018 and 2017, respectively.

The amount of the Company’s maximum obligation represents a loss that the Company could incur from the variability in credit exposure without consideration of possible recoveries through insurance or other means. In addition, the amount bears no relation to the ultimate settlement anticipated to be incurred from the Company’s involvement with these entities, which is estimated at $0.