| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Cash flows from operating activities: | ||||||
Net income | ||||||
135,413 | 103,162 | 55,601 | 71,247 | 38,130 | 37,295 | 25,799 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation, Depletion and Amortization, Nonproduction | ||||||
44,346 | 35,260 | 31,761 | 31,502 | 32,158 | 32,341 | 28,808 |
Amortization of deferred financing costs | ||||||
5,454 | 3,400 | 1,935 | 1,544 | 1,596 | 1,315 | 1,582 |
Amortization of favorable leases and asset retirement obligations | ||||||
237 | 375 | 334 | - | - | - | - |
Amortization of favorable leases | ||||||
- | - | - | 392 | 478 | 501 | 246 |
Amortization and settlement of interest rate caps | ||||||
0 | 1,170 | 1,755 | 797 | 28 | - | - |
Deferred tax expense | ||||||
21,625 | 23,933 | 372,422 | 15,606 | 6,135 | -63 | -1,430 |
Loss (gain) on re-measurement of tax benefit arrangement | ||||||
-5,966 | -4,765 | 317,354 | -72 | 2,549 | - | - |
Provision for bad debts | ||||||
87 | 19 | -19 | 59 | 667 | 139 | 57 |
(Gain) loss on disposal of property and equipment | ||||||
159 | -462 | 159 | 514 | 273 | 545 | 52 |
Gain (Loss) on Extinguishment of Debt | ||||||
0 | -4,570 | -79 | -606 | - | -4,697 | - |
Third party debt refinancing expense | ||||||
0 | 0 | 1,021 | 3,001 | - | - | - |
Loss on reacquired franchise rights | ||||||
1,810 | 360 | 0 | 0 | - | - | - |
Equity-based compensation | ||||||
4,826 | 5,479 | 2,531 | 1,728 | 4,877 | - | - |
Changes in operating assets and liabilities, excluding effects of acquisitions: | ||||||
Accounts receivable | ||||||
895 | 1,923 | 10,481 | 7,754 | 414 | 3,632 | 3,101 |
Due to and due from related parties | ||||||
472 | -3,598 | 604 | -1,897 | -4,210 | -177 | -1,281 |
Inventory | ||||||
-4,244 | 2,430 | 890 | -2,755 | 1,545 | 769 | 1,750 |
Other assets and other current assets | ||||||
3,198 | -5,778 | 2,981 | 7,944 | 5,720 | 1,818 | 776 |
Accounts payable and accrued expenses | ||||||
-6,268 | 14,506 | 4,210 | 7,428 | 263 | 5,042 | 13,456 |
Other liabilities and other current liabilities | ||||||
1,687 | -2,835 | -470 | 2,747 | 99 | -2 | 421 |
Income taxes | ||||||
6,231 | 194 | -3,027 | -5,993 | 115 | -1,670 | -364 |
Payments pursuant to tax benefit arrangements | ||||||
-24,998 | -30,493 | -11,446 | -6,922 | - | - | - |
Equipment deposits | ||||||
-4,900 | 1,410 | 4,328 | -3,417 | -1,088 | 4,028 | -1,803 |
Deferred revenue | ||||||
11,452 | 9,640 | 1,276 | -652 | 2,994 | 842 | 3,398 |
Deferred rent | ||||||
-1,823 | -3,999 | -1,199 | -632 | -1,502 | -1,527 | -1,171 |
Net cash provided by operating activities | ||||||
204,311 | 184,399 | 131,021 | 108,817 | 81,663 | 79,405 | 66,943 |
Cash flows from investing activities: | ||||||
Additions to property and equipment | ||||||
57,890 | 40,860 | 37,722 | 15,377 | 19,488 | 16,650 | 7,287 |
Acquisitions of franchises | ||||||
52,613 | 45,752 | 0 | 0 | - | 38,638 | - |
Proceeds from sale of property and equipment | ||||||
109 | 196 | 680 | 683 | 327 | 926 | 150 |
Purchase of intellectual property | ||||||
300 | 0 | 0 | - | - | - | - |
Net cash used in investing activities | ||||||
-110,694 | -86,416 | -37,042 | -14,694 | -19,161 | -54,362 | -7,137 |
Cash flows from financing activities: | ||||||
Principal payments on capital lease obligations | ||||||
93 | 47 | 22 | 46 | 376 | 1,162 | 3,291 |
Repayment of long-term debt | ||||||
12,000 | 712,469 | 7,185 | 5,621 | 14,800 | 185,800 | 10,544 |
Cash flows from financing activities: | ||||||
Proceeds from issuance of long-term debt | ||||||
550,000 | 1,200,000 | 0 | 230,000 | 120,000 | 390,000 | - |
Proceeds from issuance of Class A common stock | ||||||
2,863 | 1,209 | 480 | 136 | - | - | - |
Net repayments on line of credit | ||||||
- | - | - | - | - | - | -3,525 |
Payments of Financing Costs | ||||||
10,577 | 27,133 | 1,278 | 5,220 | 1,698 | 7,785 | 19 |
Premiums paid for interest rate caps | ||||||
0 | 0 | 366 | 0 | 880 | 2,373 | - |
Proceeds from issuance of Class A common stock sold in initial public offering, net of underwriting discounts and commissions | ||||||
- | - | - | - | 156,946 | - | - |
Use of proceeds from issuance of Class A common stock to purchase Holdings Units | ||||||
- | - | - | - | 156,946 | - | - |
Dividend paid to holders of Class A common stock | ||||||
- | - | - | 169,282 | - | - | - |
Contributions from variable interest entities | ||||||
- | - | - | - | - | - | 3,402 |
Distributions to variable interest entities | ||||||
- | - | - | - | - | 458 | 960 |
Dividend equivalent payments | ||||||
243 | 957 | 1,974 | 101,729 | 140,000 | 173,900 | - |
Distributions to Continuing LLC Members | ||||||
7,436 | 8,300 | 11,358 | 31,838 | 36,486 | 31,474 | 23,057 |
Net cash (used in) provided by financing activities | ||||||
64,348 | 109,920 | -21,703 | -85,183 | -74,240 | -12,952 | -37,994 |
Effects of exchange rate changes on cash and cash equivalents | ||||||
691 | -844 | 411 | 23 | -123 | -67 | - |
Net increase in cash, cash equivalents and restricted cash | ||||||
158,656 | 207,059 | 72,687 | 8,963 | -11,861 | 12,024 | 21,812 |
Supplemental cash flow information: | ||||||
Net cash paid for income taxes | ||||||
10,001 | 5,016 | 3,722 | 7,040 | 2,834 | 1,604 | 1,826 |
Cash paid for interest | ||||||
53,713 | 38,624 | 31,418 | 24,302 | 23,220 | 20,756 | 7,638 |
Non-cash investing activities: | ||||||
Non-cash consideration for acquisition of franchises | ||||||
- | - | - | - | - | 3,000 | - |
Non-cash additions to property and equipment | ||||||
2,827 | 5,451 | 861 | 2,203 | 207 | 1,049 | - |
Non-cash financing activities: | ||||||
Non-cash distributions to members | ||||||
- | - | - | - | - | 901 | - |
Non-cash dividend equivalent payments | ||||||
- | - | - | 3,899 | - | - | - |
Class A Common Stock | ||||||
Payments for Repurchase of Common Stock | ||||||
458,166 | 342,383 | 0 | 0 | - | - | - |
Class B Common Stock | ||||||
Repurchase and retirement of common stock | ||||||
- | - | - | 1,583 | - | - | - |