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Condensed consolidated statements of cash flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 101,158 $ 74,384
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 32,316 25,947
Amortization of deferred financing costs 4,014 2,041
Amortization of favorable leases 0 280
Amortization of asset retirement obligations 178 0
Amortization of interest rate caps 0 1,170
Deferred tax expense 15,666 19,654
Loss on extinguishment of debt 0 4,570
Loss (gain) on re-measurement of tax benefit arrangement 4,638 (354)
Provision for bad debts 13 8
Loss on reacquired franchise rights 0 360
(Gain) loss on disposal of property and equipment (84) 542
Equity-based compensation 3,565 4,137
Changes in operating assets and liabilities, excluding effects of acquisitions:    
Accounts receivable 12,779 10,922
Due to and due from related parties (344) 3,174
Inventory 2,509 (3,450)
Other assets and other current assets (4,628) 4,972
Accounts payable and accrued expenses (12,939) 2,426
Other liabilities and other current liabilities 1,510 (2,869)
Income taxes 3,047 1,028
Payable pursuant to tax benefit arrangements (17,476) (21,706)
Equipment deposits 658 4,950
Deferred revenue 6,103 7,544
Leases and deferred rent 54 4,156
Net cash provided by operating activities 152,737 143,886
Cash flows from investing activities:    
Additions to property and equipment (37,138) (18,601)
Acquisition of franchises (14,801) (45,752)
Proceeds from sale of property and equipment 84 196
Purchase of intellectual property (300) 0
Net cash used in investing activities (52,155) (64,157)
Cash flows from financing activities:    
Principal payments on capital lease obligations (59) (35)
Proceeds from issuance of long-term debt 0 1,200,000
Repayment of long-term debt (9,000) (709,469)
Payment of deferred financing and other debt-related costs 0 (27,191)
Exercise of stock options and ESPP proceeds 1,892 1,106
Repurchase and retirement of Class A common stock (157,945) (42,090)
Dividend equivalent payments (229) (881)
Distributions to Continuing LLC Members (5,499) (5,369)
Net cash (used in) provided by financing activities (170,840) 416,071
Effects of exchange rate changes on cash and cash equivalents 370 (234)
Net (decrease) increase in cash, cash equivalents and restricted cash (69,888) 495,566
Cash, cash equivalents and restricted cash, beginning of period 320,139 113,080
Cash, cash equivalents and restricted cash, end of period 250,251 608,646
Supplemental cash flow information:    
Net cash paid for income taxes 9,061 3,777
Cash paid for interest 40,335 20,015
Non-cash investing activities:    
Non-cash additions to property and equipment $ 4,837 $ 2,217