XML 26 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flows from operating activities:    
Net income $ 12,419 $ 3,065
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 37,427 38,829
Impairment of fixed assets 239  
Loss on extinguishment of debt 1,010 4,865
Call premium on redemption of Senior Discount Notes   (2,538)
Amortization of debt discount 311 149
Amortization of debt issuance costs 866 840
Non-cash rental expense, net of non-cash rental income (2,950) (3,017)
Share-based compensation expense 787 925
Decrease in deferred tax asset 7,036 3,261
Net change in certain operating assets and liabilities (11,033) 11,542
Increase in deferred membership costs (1,173) (3,558)
Landlord contributions to tenant improvements 1,320 711
Decrease in insurance reserves (2,124) (1,511)
Other (187) (323)
Total adjustments 31,529 50,175
Net cash provided by operating activities 43,948 53,240
Cash flows from investing activities:    
Capital expenditures (13,278) (21,641)
Net cash used in investing activities (13,278) (21,641)
Cash flows from financing activities:    
Principal payments on 2011 Term Loan Facility (36,007) (4,500)
Proceeds from replacement 2011 Term Loan Facility lenders 13,796  
Principal payments to non-consenting 2011 Term Loan Facility lenders (13,796)  
Term loan repricing related financing costs (2,707)  
Proceeds from exercise of stock options 2,279 291
Tax benefit from stock option exercises   100
Proceeds from 2011 Senior Credit Facility, net of original issue discount   297,000
Debt issuance costs   (8,065)
Repayment of 2007 Term Loan Facility   (178,063)
Repayment of Senior Discount Notes   (138,450)
Net cash used in financing activities (36,435) (31,687)
Effect of exchange rate changes on cash (7) 314
Net (decrease) increase in cash and cash equivalents (5,772) 226
Cash and cash equivalents beginning of period 47,880 38,803
Cash and cash equivalents end of period 42,108 39,029
Summary of the change in certain operating assets and liabilities:    
Increase in accounts receivable (1,306) (3,206)
Increase in inventory (34) (6)
(Increase) decrease in prepaid expenses and other current assets (1,705) 4,156
Decrease in accounts payable, accrued expenses and accrued interest (7,152) (5,207)
Change in prepaid corporate income taxes 166 4,738
(Decrease) increase in deferred revenue (1,002) 11,067
Net change in certain operating assets and liabilities (11,033) 11,542
Supplemental disclosures of cash flow information:    
Cash payments for interest, excluding call premium on the redemption of the Senior Discount Notes 17,562 23,851
Cash payments for income taxes $ 361 $ 567