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Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues:        
Rental revenues $ 29,878 $ 30,324 $ 60,589 $ 61,165
Total revenues 228,080 184,471 465,262 372,634
Cost of revenues:        
Franchise expenses: 78,907 82,944 159,210 164,816
Company restaurant expenses 31,232 0 62,770 0
Interest expense from finance leases 1,445 1,770 2,974 3,647
Other rental expenses 21,495 21,018 42,590 41,782
Rental expenses: 22,940 22,788 45,564 45,429
Financing expenses 146 149 292 299
Total cost of revenues 133,225 105,881 267,836 210,544
Gross profit 94,855 78,590 197,426 162,090
General and administrative expenses 39,364 38,759 82,183 80,670
Interest expense, net 14,602 15,481 29,995 30,680
Amortization of intangible assets 2,925 2,506 5,849 5,008
Closure and impairment charges (credits) 289 (2,702) 483 (98)
Loss on extinguishment of debt 8,276 0 8,276 0
Loss (gain) on disposition of assets 332 (50) 441 (1,477)
Income before income tax provision 29,067 24,596 70,199 47,307
Income tax provision (7,677) (11,883) (17,166) (17,521)
Net income 21,390 12,713 53,033 29,786
Other comprehensive income (loss) net of tax:        
Adjustment to unrealized loss on available-for-sale investments 0 0 0 50
Foreign currency translation adjustment 2 (3) 1 (6)
Total comprehensive income 21,392 12,710 53,034 29,830
Net income available to common stockholders:        
Net income 21,390 12,713 53,033 29,786
Less: Net income allocated to unvested participating restricted stock (719) (428) (1,827) (1,000)
Net income available to common stockholders - basic $ 20,671 $ 12,285 $ 51,206 $ 28,786
Net income available to common stockholders per share:        
Basic (USD per share) $ 1.20 $ 0.70 $ 2.97 $ 1.63
Diluted (USD per share) $ 1.18 $ 0.69 $ 2.91 $ 1.61
Weighted average shares outstanding:        
Basic (in shares) 17,181 17,544 17,262 17,623
Diluted (in shares) 17,563 17,803 17,626 17,827
Franchise revenues        
Revenues:        
Revenue from contract with customer, excluding assessed tax $ 162,668 $ 151,941 $ 331,594 $ 307,254
Royalties, franchise fees and other        
Revenues:        
Revenue from contract with customer, excluding assessed tax 90,930 93,236 187,226 184,713
Advertising revenue        
Revenues:        
Revenue from contract with customer, excluding assessed tax 71,738 58,705 144,368 122,541
Company restaurant sales        
Revenues:        
Revenue from contract with customer, excluding assessed tax 33,751 0 69,486 0
Financing revenues        
Revenues:        
Revenue from contract with customer, excluding assessed tax 1,783 2,206 3,593 4,215
Advertising fees        
Revenues:        
Revenue from contract with customer, excluding assessed tax 71,738 58,705 144,368 122,541
Cost of revenues:        
Franchise expenses: 71,738 58,705 144,368 122,541
Other franchise expenses        
Cost of revenues:        
Franchise expenses: $ 7,169 $ 24,239 $ 14,842 $ 42,275