0001193125-17-145623.txt : 20170428 0001193125-17-145623.hdr.sgml : 20170428 20170428092359 ACCESSION NUMBER: 0001193125-17-145623 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170428 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20170428 DATE AS OF CHANGE: 20170428 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DOMINOS PIZZA INC CENTRAL INDEX KEY: 0001286681 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-GROCERIES & RELATED PRODUCTS [5140] IRS NUMBER: 382511577 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32242 FILM NUMBER: 17791932 BUSINESS ADDRESS: STREET 1: 30 FRANK LLOYD WRIGHT DRIVE CITY: ANN ARBOR STATE: MI ZIP: 48106 MAIL ADDRESS: STREET 1: 30 FRANK LLOYD WRIGHT DRIVE CITY: ANN ARBOR STATE: MI ZIP: 48106 8-K 1 d328092d8k.htm 8-K 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

FORM 8-K

 

 

CURRENT REPORT PURSUANT TO

SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported) April 28, 2017

 

 

Domino’s Pizza, Inc.

(Exact Name of Registrant as Specified in Its Charter)

 

 

Delaware

(State or Other Jurisdiction of Incorporation or Organization)

 

001-32242   38-2511577
(Commission File Number)   (IRS Employer Identification No.)

 

30 Frank Lloyd Wright Drive

Ann Arbor, Michigan

   48105
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s telephone number, including area code (734) 930-3030

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 7.01. Regulation FD Disclosure.

The document attached hereto as Exhibit 99.1 is a copy of a report provided by Domino’s Pizza, Inc. (the “Company”) to holders of the Series 2012-1 5.216% Fixed Rate Senior Secured Notes, Class A-2, holders of the Series 2015-1 3.484% Fixed Rate Senior Secured Notes, Class A-2-I and holders of the Series 2015-1 4.474% Fixed Rate Senior Secured Notes, Class A-2-II of Domino’s Pizza Master Issuer LLC, a subsidiary of the Company. The information in this Form 8-K and the Exhibit attached hereto are being furnished pursuant to Item 7.01 of Form 8-K and therefore shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

 

Exhibit
Number

   

Description

99.1    Domino’s Pizza Master Issuer LLC Quarterly Noteholders’ Statement for the first quarter of 2017.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

     

DOMINO’S PIZZA, INC.

(Registrant)

Date: April 28, 2017       /s/ Jeffrey D. Lawrence
      Jeffrey D. Lawrence
      Chief Financial Officer
 EX-99.1 2 d328092dex991.htm EX-99.1 EX-99.1

EXHIBIT 99.1

Domino’s Pizza Master Issuer LLC

Domino’s SPV Canadian Holding Company Inc.

Domino’s Pizza Distribution LLC

Domino’s IP Holder LLC

Quarterly Noteholders’ Statement

 

Quarterly Collection Period Starting:    January 2, 2017   
Quarterly Collection Period Ending:    March 26, 2017   
Quarterly Payment Date:    April 25, 2017   

Debt Service Coverage Ratios and Senior ABS Leverage

     Holdco Leverage      Senior ABS Leverage      Quarterly DSCR  

Current Period

      4.15 x        4.48 x        4.00 x  

One Period Prior

      4.32 x        4.61 x        3.78 x  

Two Periods Prior

      4.53 x        4.87 x        3.48 x  

Three Periods Prior

      4.71 x        5.04 x        3.39 x  

System Performance

Domestic

     Franchise     Company-Owned     Total Domestic  

Open Stores at end of prior Quarterly Collection Period

      4,979       392       5,371  

Store Openings during Quarterly Collection Period

      27       2       29  

Store Transfers during Quarterly Collection Period

      (1 )      —         (1 ) 

Permanent Store Closures during Quarterly Collection Period

      (1 )      1       —    
  

 

 

    

 

 

    

 

 

  

Net Change in Open Stores during Quarterly Collection Period

      25       3       28  

Open Stores at end of Quarterly Collection Period

      5,004       395       5,399  

International

       
     Franchise     Company-Owned     Total International  

Open Stores at end of prior Quarterly Collection Period

      8,440       —         8,440  

Store Openings during Quarterly Collection Period

      175       —         175  

Permanent Store Closures during Quarterly Collection Period

      (14 )      —         (14 ) 
  

 

 

    

 

 

    

 

 

  

Net Change in Open Stores during Quarterly Collection Period

      161       —         161  

Open Stores at end of Quarterly Collection Period

      8,601       —         8,601  
     Franchise     Company-Owned     International  

Same-Store Sales Growth for Quarterly Collection Period

      9.8 %      14.1 %      4.3 % 

Potential Events

            Material Concern  

i. Potential Rapid Amortization Event

         No  

ii. Potential Manager Termination Event

         No  

Cash Trapping

      
            Date of  
     Commenced      Commencement  

i. a. Partial Cash Trapping Period

      No        N/A  

    b. Full Cash Trapping Period

      No        N/A  

ii. Series 2012-1 Cash Trapping Percentage during Quarterly Collection Period

         N/A  

iii Series 2012-1 Cash Trapping Percentage following current Quarterly Payment Date

         N/A  

iv. Series 2012-1 Cash Trapping Percentage during prior Quarterly Collection Period

         N/A  

v. Series 2012-1 Partial Cash Trapping Release Event

         N/A  

vi. Series 2012-1 Full Cash Trapping Release Event

         N/A  

Occurrence Dates

      
            Date of  
     Commenced      Commencement  

i. Rapid Amortization Event

      No        N/A  

ii. Default

      No        N/A  

iii. Event of Default

      No        N/A  

iv. Manager Termination Event

      No        N/A  

Extension Periods

      
            Date of  
     Commenced      Commencement  

i. Series 2015-1 Class A-1 first renewal period

      No        N/A  

ii. Series 2015-1 Class A-1 second renewal period

      No        N/A  

Non-Amortization Test

      
            Applicable  

i. Non-Amortization Period (Series 2012-1 & 2015-1)

         Yes  

i. Non-Amortization Period Election as of Current Quarterly Payment Date (Series 2015-1)

         Yes  

Allocation of Funds

   

1. Outstanding Notes and Reserve Account Balances as of Prior Quarterly Payment Date:

   

i. Outstanding Principal Balances

   

a. Advances Under Series 2015-1 Class A-1 Notes

    $ —    

b. Series 2012-1 Class A-2 Notes

    $ 910,251,562.50  

b. Series 2015-1 Class A-2-I Notes

    $ 493,750,000.00  

b. Series 2015-1 Class A-2-II Notes

    $ 790,000,000.00  

c. Senior Subordinated Notes

    $ —    

d. Subordinated Notes

    $ —    

ii. Reserve Account Balances

   

a. Available Senior Notes Interest Reserve Account Amount (1)

   $ 26,073,779.75  

b. Available Senior Subordinated Notes Interest Reserve Account Amount

    $ —    

c. Available Cash Trap Reserve Account Amount (1)

   $ —    

2. Retained Collections for Current Quarterly Payment Date:

   

i. Franchisee Payments

   

a. Domestic Continuing Franchise Fees

    $ 139,703,213.84  

b. International Continuing Franchise Fees

    $ 40,071,343.12  

c. Initial Franchise Fees

    $ —    

d. Other Franchise Fees

    $ —    

e. PULSE Maintenance Fees

    $ 5,408,891.36  

f. PULSE License Fees

    $ 810,606.19  

g. Technology Fees

    $ 9,330,341.65  

h. Franchisee Insurance Proceeds

    $ —    

i. Other Franchisee Payments

    $ —    

ii. Company-Owned Stores License Fees

    $ 5,999,159.91  

iii. Third-Party License Fees

    $ —    

iv. Product Purchase Payments

    $ 425,346,829.47  

v. Co-Issuers Insurance Proceeds

    $ —    

vi. Asset Disposition Proceeds

    $ —    

vii. Excluded Amounts

    $ (1,595,827.79 ) 

viii. Other Collections

    $ 172,477.00  

ix. Investment Income

    $ 19,802.72  

x. HoldCo L/C Agreement Fee Income

    $ 145,584.65  

Less:

   

xiii. Excluded Amounts

    $ 72,960,202.01  

a. Advertising Fees

    $ 74,556,029.80  

b. Company-Owned Store Advertising Fees

    $ —    

c. Third-Party Matching Expenses

    $ (1,595,827.79 ) 

xiv. Product Purchase Payments

    $ 425,346,829.47  

xiv. Bank Account Expenses

    $ 27,189.79  

Plus:

   

xvi. Aggregate Weekly Distributor Profit Amount

    $ 31,561,830.87  

xvii. Retained Collections Contributions

    $ —    
  

 

 

  

xviii. Total Retained Collections

   $ 158,640,031.72  
  

 

 

  

3. Adjusted Net Cash Flow for Current Quarterly Payment Date:

   

i. Retained Collections for Quarterly Collection Period

    $ 158,640,031.72  

Less:

   

ii. Servicing Fees, Liquidation Fees and Workout Fees

    $ 111,916.78  

iii. Securitization Entities Operating Expenses paid during Quarterly Collection Period

    $ 5,000.00  

iv. Weekly Manager Fee Amounts paid during Quarterly Collection Period

    $ 14,562,875.75  

v. Manager Advances Reimbursement Amounts

    $ —    

vi. PULSE Maintenance Fees

    $ 5,408,891.36  

vii. Technology Fees

    $ 9,330,341.65  

viii. Administrative Expenses

    $ 12,500.00  

vix. Investment Income

    $ 19,802.72  

vx. Retained Collections Contributions, if applicable, received during Quarterly Collection Period

    $ —    

viii. Net Cash Flow for Quarterly Collection Period

    $ 129,188,703.46  

ix. Net Cash Flow for Quarterly Collection Period / Number of Days in Quarterly Collection Period

    $ 1,537,960.76  

x. Multiplied by 91 if 52 week fiscal year or 92.75 if 53 week fiscal year

      91  
  

 

 

  

xi. Adjusted Net Cash Flow for Quarterly Collection Period

   $ 139,954,428.75  
  

 

 

  

 

1. Amounts calculated as of the close of business on the last Business Day of the preceding Quarterly Collection Period.

4. Debt Service / Payments to Noteholders for Current Quarterly Payment Date:

   

i. Interest on Senior and Senior Subordinated Notes

   

Series 2015-1 Class A-1 Quarterly Interest

    $ 88,865.80  

Series 2012-1 Class A-2 Quarterly Interest

    $ 11,869,680.38  

Series 2015-1 Class A-2-I Quarterly Interest

    $ 4,300,562.50  

Series 2015-1 Class A-2-II Quarterly Interest

    $ 8,836,150.00  

ii. Principal on Senior and Senior Subordinated Notes (not due if in Non-Amortization Period, but used for DSCR calculation)

  

Series 2012-1 Class A-2 Quarterly Scheduled Principal

    $ 6,398,437.50  

Series 2015-1 Class A-2-I Quarterly Scheduled Principal

    $ 1,250,000.00  

Series 2015-1 Class A-2-II Quarterly Scheduled Principal

    $ 2,000,000.00  

iii. Other

   

Series 2015-1 Class A-1 Quarterly Commitment Fees

    $ 248,395.02  
  

 

 

  

iv. Total Debt Service

    $ 34,992,091.20  
  

 

 

  

v. Other Payments to Noteholders Relating to Notes

   

Series 2015-1 Class A-1 Quarterly Contingent Additional Interest

    $ —    

Series 2012-1 Class A-2 Quarterly Contingent Additional Interest

    $ —    

Series 2015-1 Class A-2-I Quarterly Contingent Additional Interest

    $ —    

Series 2015-1 Class A-2-II Quarterly Contingent Additional Interest

    $ —    

5. Aggregate Weekly Allocations to Distribution Accounts for Current Quarterly Payment Date:

   

i. All available deposits in Series 2015-1 Class A-1 Distribution Account

    $ 349,760.82  

ii. All available deposits in Series 2012-1 Class A-2 Distribution Account

    $ 11,869,680.38  

iii. All available deposits in Series 2015-1 Class A-2-I Distribution Account

    $ 4,300,562.50  

iv. All available deposits in Series 2015-1 Class A-2-II Distribution Account

    $ 8,836,150.00  
  

 

 

  

v. Total on Deposit in Distribution Accounts

    $ 25,356,153.70  
  

 

 

  

6. Distributions for Current Quarterly Payment Date:

   

Series 2015-1 Class A-1 Distribution Account

   

i. Payment of interest and fees related to Series 2015-1 Class A-1 Notes

    $ 349,760.82  

ii. Indemnification & Real Estate Disposition Proceeds Payments to reduce commitments under Series 2015-1 Class A-1 Notes

    $ —    

iii. Principal payments to Series 2015-1 Class A-1 Notes

    $ —    

iv. Payment of Series 2015-1 Class A-1 Notes Breakage Amounts

    $ —    

Series 2012-1 Class A-2 Distribution Account

   

i. Payment of interest related to Series 2012-1 Class A-2 Notes

    $ 11,869,680.38  

ii. Indemnification & Real Estate Disposition Proceeds payments to Series 2012-1 Class A-2 Notes

    $ —    

iii. Principal payment to Series 2012-1 Class A-2 Notes

    $ —    

iv. Make-Whole Premium related to Series 2012-1 Class A-2 Notes

    $ —    

Series 2015-1 Class A-2-I Distribution Account

   

i. Payment of interest related to Series 2015-1 Class A-2-I Notes

    $ 4,300,562.50  

ii. Indemnification & Real Estate Disposition Proceeds payments to Series 2015-1 Class A-2-I Notes

    $ —    

iii. Principal payment to Series 2015-1 Class A-2-I Notes

    $ —    

iv. Make-Whole Premium related to Series 2015-1 Class A-2-I Notes

    $ —    

Series 2015-1 Class A-2-II Distribution Account

   

i. Payment of interest related to Series 2015-1 Class A-2-II Notes

    $ 8,836,150.00  

ii. Indemnification & Real Estate Disposition Proceeds payments to Series 2015-1 Class A-2-II Notes

    $ —    

iii. Principal payment to Series 2015-1 Class A-2-II Notes

    $ —    

iv. Make-Whole Premium related to Series 2015-1 Class A-2-II Notes

    $ —    
  

 

 

  

     Total Allocations from Distribution Accounts

    $ 25,356,153.70  
  

 

 

  

7. Senior Notes Interest Reserve Account Deposits, Draws and Releases as of Current Quarterly Payment Date:

   

i. Deposits into Senior Notes Interest Reserve Account during Quarterly Collection Period

    $ —    

ii. Less draws on / releases from Available Senior Notes Interest Reserve Account Amount

    $ —    
  

 

 

  

iii. Total Increase (Reduction) of Available Senior Notes Interest Reserve Account Amount

    $ —    
  

 

 

  

8. Senior Subordinated Notes Interest Reserve Account Deposits, Draws and Releases as of Current Quarterly Payment Date:

   

i. Deposits into Senior Subordinated Notes Interest Reserve Account during Quarterly Collection Period

    $ —    

ii. Less draws on Available Senior Subordinated Notes Interest Reserve Account Amount

    $ —    
  

 

 

  

iii. Total Increase (Reduction) of Available Senior Subordinated Notes Interest Reserve Account Amount

    $ —    
  

 

 

  

9. Cash Trap Reserve Account Deposits, Draws and Releases as of Current Quarterly Payment Date:

   

i. Deposits into Cash Trap Reserve Account during Quarterly Collection Period

    $ —    

ii. Less draws on Available Cash Trap Reserve Account Amount

    $ —    

iii. Less Cash Trapping Release Amount

    $ —    

iv. Total Increase (Reduction) of Available Cash Trap Reserve Account Amount

    $ —    

10. Real Estate Disposition Proceeds

   

i. Aggregate Real Estate Disposition Proceeds as of Prior Quarterly Payment Date

    $ —    

ii. Aggregate Real Estate Disposition Proceeds as of Current Quarterly Payment Date

    $ —    

11. Scheduled Principal Catch-Up Amounts

   

i. Series 2012-1 Class A-2 aggregate Scheduled Principal Catch-Up Amounts as of Prior Quarterly Payment Date

    $ —    

ii. Series 2012-1 Class A-2 aggregate Scheduled Principal Catch-Up Amounts as of Current Quarterly Payment Date

    $ —    

12. Outstanding Balances as of Current Quarterly Payment Date (after giving effect to payments to be made on such date):

   

i. Series 2015-1 Class A-1 Notes

    $ 44,333,949.00  

ii. Series 2012-1 Class A-2 Notes

    $ 910,251,562.50  

ii. Series 2015-1 Class A-2-I Notes

    $ 493,750,000.00  

ii. Series 2012-1 Class A-2-II Notes

    $ 790,000,000.00  

iii. Senior Subordinated Notes

    $ —    

iv. Subordinated Notes

    $ —    

v. Reserve account balances:

   

a. Available Senior Notes Interest Reserve Account Amount

    $ 26,002,608.50  

b. Available Senior Subordinate Notes Interest Reserve Account Amount

    $ —    

c. Available Cash Trap Reserve Account Amount

    $ —    

IN WITNESS HEREOF, the undersigned has duly executed and delivered this Quarterly Noteholders’ Statement this April 20, 2017

Domino’s Pizza LLC as Manager on behalf of the Master Issuer and certain subsidiaries thereto,

 

 

by: 

  

/s/ Michelle Hook

   

Michelle Hook - Treasurer