Town sports international holdings inc (CLUB)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows from operating activities:
Net loss including non-controlling interests

-19,281

-125

4,369

-

-

-

-

-

-

-

-

Net income (loss)

-

-

-

8,043

21,158

-68,989

12,324

11,966

6,315

-290

-5,668

Adjustments to reconcile net loss including non-controlling interests to net cash provided by operating activities:
Depreciation and amortization

38,199

37,442

40,849

43,727

47,887

47,307

49,099

49,391

51,536

52,202

56,533

Insurance recovery related to damaged property

-

-

-

-

-

-

3,194

0

-

-

-

Impairment of fixed assets

7,189

2,082

6,497

742

14,571

4,569

714

3,436

-

3,254

6,708

Impairment of goodwill

-

-

-

0

31,558

137

0

0

-

-

-

Gain on sale of building

-

-

-

0

77,146

0

0

-

-

-

-

Impairment of internal-use software

-

-

-

-

-

-

-

-

-

-

10,194

Gain on extinguishment of debt

-

-

-

37,893

17,911

-493

-750

-1,010

-4,865

-

-

Call premium on redemption of Senior Discount Notes

-

-

-

-

-

-

-

-

2,538

-

-

Amortization of debt discount

1,014

976

939

1,006

1,288

1,304

996

517

244

-

-

Amortization of debt issuance costs

445

580

-

-

-

-

-

-

-

-

-

Amortization of debt issuance costs

-

-

601

644

778

627

1,153

1,135

1,127

1,011

896

Amortization of building financing costs

-

-

-

0

124

31

0

0

-

-

-

Non-cash interest expense on Senior Discount Notes

-

-

-

-

-

-

-

-

-

-

-1,203

Write-off of deferred financing costs

-

-

-

-

-

-

-

-

-

-

100

Noncash rental expense (income)

-454

3,324

4,250

3,617

3,647

5,399

5,692

4,037

3,663

5,552

2,494

Share-based compensation expense

3,559

2,616

1,861

1,807

1,386

1,911

2,204

1,306

1,412

1,336

1,704

Net change in deferred taxes

0

166

-32

0

11,519

-40,129

-6,120

-5,865

-11,553

-8,643

8,315

Net change in certain operating assets and liabilities

2,793

-25,626

1,049

-84

-416

-137

613

149

-4

249

1,683

Net change in certain operating assets and liabilities

-

-

24,450

-1,500

-9,185

20,994

-898

-

-

-

-

Net change in certain operating assets and liabilities, net of acquisitions

-

-

-

-

-

-

-

8,967

-9,181

8,243

-3,262

Decrease (increase) in deferred membership costs

-794

844

-133

-1,937

-4,367

-1,329

-2,086

694

4,183

-

-

Change in deferred membership costs

-

-

-

-

-

-

-

-

-

-145

-8,383

Landlord contributions to tenant improvements

51

800

2,115

2,080

1,288

1,684

1,472

1,345

711

100

4,817

Increase (decrease) in insurance reserves

1,312

-61

552

1,130

1,087

482

-929

-2,071

-1,679

-1,119

601

Other

-358

-1,508

-

-

-

-

-

-

-

-

-

Total adjustments

49,866

64,219

23,830

13,147

3,712

73,747

55,064

48,087

68,570

51,528

81,909

Net cash provided by operating activities

30,585

64,094

28,199

21,190

24,870

4,758

67,388

60,053

74,885

51,238

76,241

Cash flows from investing activities:
Capital expenditures

16,183

11,887

10,206

19,723

30,471

42,054

30,861

22,490

30,907

22,035

49,277

Acquisition of businesses

21,667

31,277

15,375

0

0

-

-

-

-

-

-

Acquisition of assets

0

3,989

-

-

-

-

-

-

-

-

-

Payments to Acquire Productive Assets

-

-

12,600

0

0

-

-

-

-

-

-

Deposit paid in connection with acquisitions

-

-

2,800

0

0

-

-

-

-

-

-

Change in restricted cash

-

-

-

0

1,100

0

0

-

-

-

-

Other

0

-135

550

280

0

0

-

-

-

-

-

Acquisition of businesses

-

-

-

-

-

-

2,939

0

-

-

-

Insurance recovery related to damaged property

-

-

-

-

-

-

3,194

0

-

-

-

Net cash used in investing activities

-37,850

-47,018

-41,531

-20,003

-31,571

-42,054

-30,606

-22,490

-30,907

-22,035

-49,277

Cash flows from financing activities:
Proceeds from building financing arrangement

-

-

-

0

4,000

-

0

0

-

-

-

Proceeds from building financing arrangement

-

-

-

0

4,000

83,400

0

0

-

-

-

Building financing arrangement costs

-

-

-

-

-

3,160

0

0

-

-

-

Principal payments on 2013 Term Loan Facility

20,076

2,083

2,082

2,266

3,038

16,716

0

-

-

-

-

Proceeds from 2013 Senior Credit Facility, net of original issue discount

-

-

-

-

-

-

323,375

-

-

-

-

Repayment of 2011 Senior Credit Facility

-

-

-

-

-

-

315,743

-

-

-

-

Repurchase of 2013 Term Loan Facility

-

-

-

29,765

10,947

0

0

-

-

-

-

Redemption paid pursuant to the Rights Plan

-

-

-

0

246

0

0

-

-

-

-

Proceeds from borrowings on Revolving Loan Facility

9,500

0

-

-

-

-

-

-

-

-

86,000

Repayments of Revolving Loan Facility

9,500

0

-

-

-

-

-

-

-

-

105,000

Finance Lease, Principal Payments

1,506

583

-

-

-

-

-

-

-

-

-

Principal payments on finance lease obligations

-

-

0

-

-

-

-

-

-

-

-

Proceeds from Issuance of Secured Debt

0

5,530

0

-

-

-

-

-

-

-

-

Principal payments on mortgage and term loan

191

103

0

-

-

-

-

-

-

-

-

Debt issuance costs

0

186

0

-

-

-

-

-

-

-

-

Principal payments on 2013 Term Loan Facility

-

-

-

-

-

-

-

0

-

-

-

Proceeds from 2013 Senior Credit Facility, net of original issue discount

-

-

-

-

-

-

-

0

-

-

-

Proceeds from incremental term loan, net of original issue discount

-

-

-

-

-

-

-

59,700

-

-

-

Proceeds from replacement 2011 Term Loan Facility lenders

-

-

-

-

-

-

-

13,796

-

-

-

Proceeds from 2011 Senior Credit Facility, net of original issue discount

-

-

-

-

-

-

-

-

297,000

-

-

Principal payments to non-consenting 2011 Term Loan Facility lenders

-

-

-

-

-

-

-

13,796

-

-

-

Principal payments on 2011 Term Loan Facility

-

-

-

-

-

-

-

36,007

8,250

-

-

Repayment of 2011 Senior Credit Facility

-

-

-

-

-

-

-

0

-

-

-

Term loan issuance and amendment related financing costs

-

-

-

-

-

-

4,356

3,346

-

-

-

Debt issuance costs

-

-

-

0

350

0

763

125

8,065

-

-

Cash dividends paid

0

2

9

50

213

7,877

4,088

70,296

-

-

-

Costs related to deferred financing

-

-

-

-

-

-

-

-

-

-

-615

Repurchase of common stock

-

-

-

-

-

-

-

-

-

-

5,355

Proceeds from stock option exercises

5

30

111

318

283

133

600

2,352

479

85

36

Tax benefit from restricted stock vesting

-

-

-

-

-

1,723

0

0

-

-

21

Repayment of 2007 Term Loan Facility

-

-

-

-

-

-

-

-

178,063

-

1,850

Repayment of 2007 Term Loan Facility

-

-

-

-

-

-

-

-

-

1,850

-

Repayment of Senior Discount Notes

-

-

-

-

-

-

-

-

138,450

-

-

Net cash (used in) provided by financing activities

-21,768

2,603

-1,980

-31,763

-10,511

57,503

-975

-47,722

-35,349

-1,765

-26,763

Effect of exchange rate changes on cash, cash equivalents and restricted cash

-25

61

37

-

-

-

-

-

-

-

-

Net (decrease) increase in cash, cash equivalents and restricted cash

-29,058

19,740

-15,275

-

-

-

-

-

-

-

-

Summary of the change in certain operating assets and liabilities:
Decrease (increase) in accounts receivable

-61

834

984

-763

-1,446

-25

-2,859

645

-591

-951

222

Increase in inventory

-

-

-238

-99

-219

101

36

148

-74

9

-80

Decrease in prepaid expenses and other current assets

-876

-8,851

9,180

-2,997

-596

1,549

1,278

432

3,212

-2,532

2,260

(Decrease) increase in accounts payable, accrued expenses and accrued interest

-25

7,330

143

-2,298

1,011

-9,856

3,089

-3,094

-864

419

-2,135

Change in prepaid corporate income taxes and corporate income taxes payable

-38

12,898

-12,010

5,471

4,774

-12,773

1,604

-427

2,347

6,016

-6,895

Decrease in deferred revenue

-3,667

-2,619

-2,657

-

-

-

-

-

-

-

-

Increase in deferred revenue

-

-

-

-5,532

1,139

3,260

-5,340

-4,221

-8,117

-1,666

8,170

Net change in certain working capital components

2,793

-25,626

24,450

-1,500

-9,185

20,994

-898

8,967

9,181

-8,243

3,262

Effect of exchange rate changes on cash

-

-

-

-45

-23

-353

33

37

448

607

158

Net increase in cash and cash equivalents

-

-

-

-30,621

-17,235

19,854

35,840

-10,122

9,077

28,045

359