XML 18 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues:      
Club operations $ 397,166 $ 390,560 $ 418,069
Fees and other 5,876 6,361 6,254
Total revenue 403,042 396,921 424,323
Operating Expenses:      
Payroll and related 145,612 149,029 175,898
Club operating 180,467 185,104 196,725
General and administrative 22,680 24,702 30,683
Depreciation and amortization 40,849 43,727 47,887
Impairment of fixed assets 6,497 742 14,571
Impairment of goodwill 0 0 31,558
Gain on sale of building 0 0 (77,146)
Gain on lease termination 0 0 (2,967)
Total operating expenses 396,105 403,304 417,209
Operating income (loss) 6,937 (6,383) 7,114
Gain on extinguishment of debt 0 (37,893) (17,911)
Interest expense 12,665 13,940 20,579
Interest income (78) (2) 0
Equity in the earnings of investees and rental income (333) (242) (2,361)
(Loss) income before (benefit) provision for corporate income taxes (5,317) 17,814 6,807
(Benefit) provision for corporate income taxes (9,686) 9,771 (14,351)
Net income $ 4,369 $ 8,043 $ 21,158
Earnings per share:      
Basic (in dollars per share) $ 0.16 $ 0.31 $ 0.86
Diluted (in dollars per share) $ 0.16 $ 0.31 $ 0.84
Weighted average number of shares used in calculating earnings per share:      
Basic (in shares) 26,703,577 25,568,371 24,630,898
Diluted (in shares) 27,422,833 26,074,735 25,114,057