XML 17 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed consolidated statements of cash flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net (loss) income $ (24,886) $ 101,158
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 39,436 32,316
Amortization of deferred financing costs 4,801 4,014
Amortization of asset retirement obligations 48 178
Deferred tax (benefit) expense (7,506) 15,666
(Gain) loss on re-measurement of tax benefit arrangement (502) 4,638
Provision for bad debts (45) 13
Equity-based compensation 3,564 3,565
Other (93) (428)
Changes in operating assets and liabilities, excluding effects of acquisitions:    
Accounts receivable 28,146 12,779
Inventory (929) 2,509
Other assets and other current assets (11,364) (4,628)
National advertising fund 3,446 0
Accounts payable and accrued expenses (11,148) (12,939)
Other liabilities and other current liabilities 461 1,510
Income taxes (1,885) 3,047
Payable pursuant to tax benefit arrangements (18,396) (17,476)
Equipment deposits (1,486) 658
Deferred revenue (5,052) 6,103
Leases and deferred rent 1,275 54
Net cash (used in) provided by operating activities (2,115) 152,737
Cash flows from investing activities:    
Additions to property and equipment (36,719) (37,138)
Acquisition of franchises 0 (14,801)
Proceeds from sale of property and equipment 282 84
Purchase of intellectual property 0 (300)
Net cash used in investing activities (36,437) (52,155)
Cash flows from financing activities:    
Principal payments on capital lease obligations (118) (59)
Proceeds from borrowings under Variable Funding Notes 75,000 0
Repayment of long-term debt (13,125) (9,000)
Proceeds from issuance of Class A common stock 1,881 1,892
Repurchase and retirement of Class A common stock 0 (157,945)
Dividend equivalent payments (227) (229)
Distributions to Continuing LLC Members (1,658) (5,499)
Net cash provided by (used in) financing activities 61,753 (170,840)
Effects of exchange rate changes on cash and cash equivalents (394) 370
Net increase (decrease) in cash, cash equivalents and restricted cash 22,807 (69,888)
Cash, cash equivalents and restricted cash, beginning of period 478,795 320,139
Cash, cash equivalents and restricted cash, end of period 501,602 250,251
Supplemental cash flow information:    
Net cash paid for income taxes 2,319 9,061
Cash paid for interest 56,750 40,335
Non-cash investing activities:    
Non-cash additions to property and equipment $ 7,629 $ 4,837