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

-3,471

-12,054

-1,557

-2,199

2,087

-3,942

601

1,129

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income (loss)

-

-

-

-

-

-

-

-

-

-

-410

-2,935

-259

-5,506

20,733

-6,925

86,996

-22,006

-31,068

-12,764

-63,688

-867

-919

-3,515

-695

2,591

6,197

4,231

-453

3,152

5,417

3,850

3,250

1,942

-410

1,533

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

9,083

9,456

10,075

9,585

9,486

9,188

9,640

9,128

10,650

9,874

10,016

10,309

10,630

11,015

10,897

11,185

11,845

12,190

12,178

11,674

12,018

11,638

11,853

11,798

11,991

12,549

12,411

12,148

11,964

12,148

12,419

12,860

12,707

12,642

13,185

13,002

Impairment of fixed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

12,420

1,014

1,137

56

0

890

3,623

-

-

-

-

-

-

-

-

-

-

-

-

Impairment of goodwill

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

137

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt discount

257

255

252

250

248

245

243

240

238

236

234

231

230

227

248

301

316

327

325

320

326

329

326

323

279

239

239

239

206

119

95

97

-

-

-

-

Amortization of debt issuance costs

-

111

111

112

-

149

150

150

149

151

151

150

151

151

160

182

190

195

197

196

184

-141

312

272

335

273

272

273

269

291

287

288

287

287

271

282

Amortization of building financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

29

32

31

32

31

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Noncash rental expense (income)

-316

-1,184

910

136

704

907

857

856

1,484

1,101

1,041

624

591

690

1,358

978

953

1,035

1,038

621

486

3,672

596

645

1,407

1,479

1,310

1,496

1,087

573

1,518

859

646

935

962

1,120

Share-based compensation expense

750

859

818

1,132

576

557

557

926

395

384

406

676

276

416

467

648

199

214

136

837

348

431

473

659

612

469

467

656

519

217

241

329

487

267

310

348

Net change in deferred taxes

0

0

0

0

276

-136

64

-38

-32

0

0

0

-

-

-

-

0

6

11,582

-69

-63,696

17,974

2,563

3,030

2,027

-1,309

-3,544

-3,294

1,171

-2,121

-2,502

-2,413

-8,292

-2,241

-502

-518

Net change in certain operating assets and liabilities

2,101

264

297

131

-26,918

1,171

74

47

1,061

81

86

-179

-174

-48

42

96

-76

0

12

-352

-197

195

11

-146

203

-5

358

57

-38

453

-713

447

-327

507

-552

368

Net change in certain operating assets and liabilities

-

1,627

3,019

-6,238

-

1,817

-1,849

-21,200

37,120

-2,072

-1,645

-8,953

6,584

14,516

-11,734

-10,866

3,776

7,376

5,132

-25,469

10,822

13,326

1,033

-4,187

-

-

-

-

-

-

-

-

-

-

-

-

Decrease (increase) in deferred membership costs

-

-108

-250

-387

-

-209

-195

1,758

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,031

-2,010

-2,688

-2,066

8,738

844

1,451

2,361

-3,410

4,462

-12,594

Decrease (increase) in deferred membership costs

-

-

-

-

-

-

-

-

-

-

-52

42

-272

-486

-635

-544

-1,414

-2,364

-113

-476

-399

-281

-497

-152

-

-

-

-

-

-

-

-

-

-

-

-

Change in deferred membership costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-492

-843

-282

-

146

277

750

-

1,321

1,037

1,200

Landlord contributions to tenant improvements

0

36

0

15

0

0

500

300

0

0

1,127

988

0

0

1,930

150

992

0

148

148

382

652

525

125

-

-

-

-

25

325

332

663

0

562

0

149

Increase (decrease) in insurance reserves

-

955

-265

151

-

3

-8

-160

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase (decrease) in insurance reserves

-

-

-

-

-

-

-

-

-

-

40

-109

-90

441

564

215

398

574

1,963

-1,848

-278

515

79

166

107

-378

-167

-491

53

-792

-743

-589

-168

-527

-654

-330

Total adjustments

6,986

18,262

7,015

17,603

14,253

8,674

12,131

29,161

-27,770

18,345

12,544

20,711

4,468

-1,076

-13,262

23,017

-84,327

19,899

29,899

38,241

66,544

-21,462

10,752

17,913

17,822

3,343

16,363

17,536

16,558

5,768

13,207

12,554

18,395

16,216

10,084

23,875

Net cash provided by operating activities

3,515

6,208

5,458

15,404

16,340

4,732

12,732

30,290

-6,780

5,069

12,134

17,776

4,209

-6,582

7,471

16,092

2,669

-2,107

-1,169

25,477

2,856

-22,329

9,833

14,398

17,127

5,934

22,560

21,767

16,105

8,920

18,624

16,404

21,645

18,158

9,674

25,408

Cash flows from investing activities:
Capital expenditures

4,372

4,210

3,728

3,873

3,457

3,860

2,971

1,599

1,379

2,023

3,775

3,029

6,084

3,687

6,139

3,813

6,398

7,280

10,410

6,383

12,858

13,008

9,003

7,185

10,203

8,357

7,720

4,581

9,212

6,191

4,739

2,348

9,266

9,922

6,384

5,335

Acquisition of businesses

0

0

0

21,667

12,267

11,745

7,265

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments to Acquire Productive Assets

-

0

0

0

-

0

0

3,989

12,600

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,100

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Other

0

0

0

0

-36

-120

0

21

257

-61

354

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of businesses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

2,435

504

-

-

-

-

-

-

-

-

Net cash used in investing activities

-4,372

-4,210

-3,728

-25,540

-15,688

-15,485

-10,236

-5,609

-21,711

-12,662

-4,129

-3,029

-6,364

-3,687

-6,139

-3,813

-6,398

-7,280

-10,410

-7,483

-12,858

-18,008

-4,003

-7,185

-10,203

-7,663

-7,655

-5,085

-9,212

-6,191

-4,739

-2,348

-9,266

-9,922

-6,384

-5,335

Cash flows from financing activities:
Proceeds from building financing arrangement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,500

0

0

500

-

83,400

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from building financing arrangement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,500

0

0

500

0

83,400

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on 2013 Term Loan Facility

-

946

18,138

520

-

521

520

521

-

520

521

520

-

521

521

703

-

778

779

778

-

1,535

813

812

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on finance lease obligations

-

443

421

189

-

159

156

85

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on mortgage and term loan

49

47

47

48

47

35

21

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on 2011 Term Loan Facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

15,000

750

20,257

-

-

-

-

Debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

350

-2,437

2,437

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Cash dividends paid

0

0

0

0

0

1

0

1

0

0

1

8

33

0

6

11

131

0

6

76

211

0

3,821

3,845

3,987

0

62

39

-

-

-

-

-

-

-

-

Proceeds from stock option exercises

4

0

0

1

15

13

2

0

39

26

0

46

0

0

282

36

1

242

24

16

86

0

44

3

197

66

324

13

73

268

1,662

349

188

66

108

117

Tax benefit from restricted stock vesting

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

326

-

44

36

20

Repayment of 2007 Term Loan Facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

164,001

14,062

Net cash (used in) provided by financing activities

-970

-10,936

-9,106

-756

-922

2,447

1,685

-607

-482

-494

-522

-482

-554

-521

-30,010

-678

-8,280

-536

-1,007

-688

-14,373

81,120

-4,590

-4,654

-1,277

66

262

-26

-11,287

-17,439

586

-19,582

-3,662

-3,640

-14,122

-13,925

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

-8

-21

19

-15

4

22

2

33

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-1,835

-8,959

-7,357

-10,907

-266

-8,284

4,183

24,107

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-534

331

-37

179

137

171

237

289

740

491

33

-280

-2

-104

-160

-497

-503

-818

-675

550

-69

194

-605

455

-5,989

0

526

2,604

1,951

517

598

-2,421

2,615

-2,018

541

-1,729

Increase in inventory

-

-

-

-

-

-

-

-

-130

-151

-43

86

-45

39

-125

32

-101

136

12

-266

11

-44

48

86

16

6

34

-20

182

-61

-101

128

-68

44

70

-120

Decrease in prepaid expenses and other current assets

-960

1,526

-1,789

347

-424

3,881

-2,253

-10,055

8,092

3,624

-912

-1,624

-1,423

3,262

-4,169

-667

-1,377

3,443

-1,325

-1,337

53

1,212

1,294

-1,010

2,889

-1,538

-1,149

1,076

2,137

-698

-2,222

1,215

-944

930

-1,363

4,589

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

-3,996

2,646

-1,406

2,731

-1,617

4,436

-1,099

5,610

-7,949

5,301

-152

2,943

-4,786

2,820

-2,968

2,636

-4,041

-4,674

-1,012

10,738

-5,244

-1,077

1,061

-4,596

-1,088

4,380

-5,265

5,062

-10,246

1,975

-1,905

7,082

-6,071

1,870

4,024

-687

Change in prepaid corporate income taxes and corporate income taxes payable

-75

59

-85

63

8,701

723

3,456

18

-16,679

2,551

2,331

-213

-770

-9,474

12,872

2,843

2,968

5,147

-3,451

110

-6,607

-7,737

1,363

208

1,633

69

-926

828

-261

663

-1,137

308

7,085

-4,180

879

-1,437

Decrease in deferred revenue

-1,808

-2,475

-3,354

3,970

-2,977

-2,924

-2,524

5,806

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in deferred revenue

-

-

-

-

-

-

-

-

-

-

-

4,405

-2,498

-4,665

-2,624

4,255

-4,684

-5,088

-2,657

13,568

1,024

-3,150

-2,720

8,106

-8,064

4,050

3,592

-4,918

-5,223

5,858

2,161

-7,017

2,950

-2,144

-1,193

-7,730

Net change in certain working capital components

4,385

1,627

3,019

-6,238

-4,394

1,817

-1,849

-21,200

37,120

-2,072

-1,645

-8,953

6,584

14,516

-11,734

-10,866

3,776

7,376

5,132

-25,469

10,822

13,326

1,033

-4,187

-

-

-

2,688

20,000

-8,738

-844

-1,451

-2,361

3,410

-4,462

12,594

Cash payments for interest, net of capitalized interest

-

3,898

2,104

3,071

-

2,920

3,017

2,836

-

2,810

2,775

2,760

-

2,830

3,070

3,623

-

4,416

4,289

4,276

-

4,119

4,371

4,251

-

4,712

5,333

4,661

-

6,347

5,468

5,747

-

6,123

8,716

9,012

Cash payments for income taxes

-

14

80

25

-

-15

490

21

-

1,443

23

14

-

8,633

28

24

-

24

18

46

-

23,379

93

80

-

107

103

68

-

-

-

-

-

-

-

-

Effect of exchange rate changes on cash

-

-

-

-

-

-

-

-

-

-11

37

11

-25

191

-150

-61

-60

-150

123

64

-124

-238

-8

17

-10

103

7

-67

44

14

-58

37

134

-79

111

282

Net increase in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-8,098

7,520

14,276

-2,734

-10,599

-28,828

11,540

-12,069

-10,073

-12,463

17,370

-24,499

40,545

1,232

2,576

5,637

-1,560

15,174

16,589

-4,350

-14,696

14,413

-5,489

8,851

4,517

-10,721

6,430

Cash payments for income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

179

14

-

42

459

66