Planet fitness, inc. (PLNT)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15
Cash flows from operating activities:
Cash flows from operating activities:
Net income

10,383

34,255

29,692

39,827

31,639

28,778

20,472

30,419

23,493

829

18,902

18,004

17,866

21,947

14,863

18,092

16,345

17,240

738

11,614

8,538

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, Depletion and Amortization, Nonproduction

12,792

12,030

11,832

10,577

9,907

9,313

8,863

8,619

8,465

7,779

8,137

7,894

7,951

8,375

7,745

7,679

7,703

7,998

7,976

7,983

8,201

Amortization of deferred financing costs

1,587

1,440

1,350

1,308

1,356

1,359

1,068

489

484

496

497

477

465

430

373

370

371

526

384

381

305

Amortization of favorable leases

-

-

-

-

-

-

94

94

92

-

76

90

94

95

99

99

99

98

145

122

113

Amortization of asset retirement obligations

7

-

10

-53

221

-

0

-1

1

-

-

-

-

-

-

-

-

-

-

-

-

Amortization and settlement of interest rate caps

-

-

-

-

-

0

724

251

195

203

598

522

432

338

238

146

75

-

-

-

-

Deferred tax expense

4,126

5,959

6,812

6,689

2,165

4,279

6,354

8,391

4,909

351,078

6,755

9,291

5,298

4,544

4,359

5,349

1,354

6,276

-162

14

7

Loss (gain) on re-measurement of tax benefit arrangement

502

-1,328

214

-1,479

-3,373

-5,119

0

-42

396

316,813

0

0

541

-

-

-

-

-

-

-

-

Provision for bad debts

-33

74

23

-12

2

11

16

6

-14

-63

16

1

27

15

31

6

7

120

1

535

11

(Gain) loss on disposal of property and equipment

-

-

-

-

-

80

5

103

-650

-198

34

323

0

167

182

-21

186

197

9

61

6

Loss on reacquired franchise rights

-

-

-

-

-

0

10

0

350

0

0

0

0

-

-

-

-

-

-

-

-

Equity-based compensation

947

1,261

1,286

964

1,315

1,342

1,450

1,689

998

731

788

632

380

355

413

384

576

-

-

-

-

Other

-993

-

-

-

269

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities, excluding effects of acquisitions:
Accounts receivable

-21,409

13,674

-314

7,567

-20,032

12,845

11,359

-3,644

-18,637

21,580

443

317

-11,859

12,652

2,887

1,079

-8,864

9,244

-1,478

2,440

-9,792

Due to and due from related parties

-

-

-

-

-

-6,772

-201

3,210

165

1,184

-291

-190

-99

-10,391

963

11,075

-3,544

-8,742

2,574

2,008

-50

Inventory

1,943

-1,735

99

-931

-1,677

-1,020

2,949

-863

1,364

2,143

-898

116

-471

1,043

-134

-583

-3,081

1,782

2,008

-1,244

-1,001

Other assets and other current assets

250

-1,430

-4,660

6,640

2,648

-806

-8,081

1,768

1,341

568

-826

1,052

2,187

6,309

-1,439

-1,558

4,632

5,157

-24

1,009

-422

National advertising fund

-10,363

-

-

1,404

-6,500

-

-

2,952

-4,586

-

-

0

0

-

-

-

-

-

-

-

-

Accounts payable and accrued expenses

6,381

6,671

7,892

-6,191

-14,640

12,080

19,310

-126

-16,758

21,195

-2,841

7,100

-21,244

17,600

3,759

2,271

-16,202

12,008

1,419

3,581

-16,745

Other liabilities and other current liabilities

-249

177

-267

1,563

214

34

39

-2,991

83

254

-691

-221

188

2,777

-34

-26

30

42

15

27

15

Income taxes

-1,315

3,184

1,060

219

1,768

-834

897

-1,767

1,898

-1,565

-1,056

-716

310

1,550

-1,721

-3,508

-2,314

-854

538

141

290

Payments pursuant to tax benefit arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

-915

0

-3,894

-2,113

-

-

-

-

Equipment deposits

2,386

-5,558

1,190

-5,126

4,594

-3,540

2,447

-5,281

7,784

-1,623

561

-3,179

8,569

-1,808

-541

-734

-334

-1,911

4,693

-3,640

-230

Deferred revenue

25,992

5,349

-528

2,963

3,668

2,096

1,315

2,693

3,536

2,234

-2,784

1,299

527

612

-3,496

3,323

-1,091

2,368

-2,604

3,947

-717

Leases and deferred rent

774

-

37

-43

60

-

2,562

741

853

-

-

-

-

-

-

-

-

-

-

-

-

Deferred rent

-

-

-

-

-

-

-

-

-

-838

-116

-139

-106

-253

-97

-197

-85

-172

-88

-250

-992

Net cash provided by operating activities

73,122

51,574

70,233

24,570

57,934

40,513

65,392

30,360

48,134

37,993

30,030

32,526

30,472

33,079

25,652

34,824

15,262

25,090

19,937

24,597

12,039

Cash flows from investing activities:
Additions to property and equipment

9,110

20,752

18,213

11,454

7,471

22,259

10,465

6,100

2,036

14,493

9,102

8,791

5,336

6,111

4,779

3,622

865

5,658

5,292

3,212

5,326

Acquisitions of franchises

-

-

-

-

-

0

17,249

0

28,503

0

0

0

0

-

-

-

-

-

-

-

-

Proceeds from sale of property and equipment

135

25

30

33

21

0

62

94

40

514

166

0

0

281

260

122

20

251

9

61

6

Net cash used in investing activities

-8,975

-58,539

-18,483

-26,222

-7,450

-22,259

-27,652

-6,006

-30,499

-13,979

-8,936

-8,791

-5,336

-5,830

-4,519

-3,500

-845

-5,407

-5,283

-3,151

-5,320

Cash flows from financing activities:
Principal payments on capital lease obligations

41

34

32

15

12

12

12

12

11

22

0

0

0

9

12

13

12

33

85

118

140

Proceeds from borrowings under Variable Funding Notes

75,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of long-term debt

4,375

3,000

3,000

3,000

3,000

3,000

705,877

1,796

1,796

1,797

1,796

1,796

1,796

1,796

1,275

1,275

1,275

11,275

1,275

1,275

975

Cash flows from financing activities:
Proceeds from issuance of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

120,000

Proceeds from issuance of Class A common stock

491

-

-

913

607

-

-

158

242

-

-

-

-

-

-

-

-

-

-

-

-

Payments of Financing Costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,698

Premiums paid for interest rate caps

-

-

-

-

-

-

-

-

-

0

0

0

366

-

-

-

-

-

-

-

-

Exercise of stock options

-

-

-

-

-

-

-

-

-

-

146

26

0

-

-

-

-

-

-

-

-

Dividend equivalent payments

57

14

91

118

20

76

743

118

20

652

1,183

119

20

-

-

-

-

-

-

-

-

Distributions to Continuing LLC Members

1,600

1,937

1,757

1,900

1,842

2,931

1,866

1,769

1,734

2,050

3,716

2,450

3,142

4,767

9,599

11,061

6,411

-134,615

16,013

15,400

139,688

Net cash (used in) provided by financing activities

69,418

235,188

-162,453

-4,120

-4,267

-306,151

422,927

-3,537

-3,319

-4,213

-6,549

-5,617

-5,324

-52,746

-10,807

-13,932

-7,698

-16,693

-18,253

-16,793

-22,501

Effects of exchange rate changes on cash and cash equivalents

-1,640

321

-172

292

250

-610

195

-179

-250

12

201

167

31

-64

-36

4

119

-21

-88

-37

23

Net increase in cash, cash equivalents and restricted cash

131,925

228,544

-110,875

-5,480

46,467

-288,507

460,862

20,638

14,066

19,813

14,746

18,285

19,843

-25,561

10,290

17,396

6,838

2,969

-3,687

4,616

-15,759

Supplemental cash flow information:
Net cash paid for income taxes

2,071

940

2,531

5,051

1,479

1,239

848

2,823

106

-47

855

1,319

1,595

-1,081

2,150

1,635

4,336

1,729

817

77

211

Cash paid for interest

18,768

13,378

13,412

13,446

13,477

18,609

3,220

8,649

8,146

7,781

7,747

8,033

7,857

7,115

5,708

5,664

5,815

6,157

6,237

6,212

4,614

Non-cash investing activities:
Non-cash additions to property and equipment

2,319

-2,010

2,941

-2,255

4,151

3,234

145

1,619

453

379

-506

950

38

2,076

-99

56

170

-

-

-

384

Unsettled distributions to members

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,496