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Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Rental revenues $ 28,970 $ 30,127 $ 89,559 $ 91,292
Total revenues 217,405 194,099 682,667 566,733
Cost of revenues:        
Franchise expenses 74,577 78,341 233,787 243,157
Company restaurant expenses 30,361 0 93,131 0
Interest expense from finance leases 1,351 1,668 4,325 5,315
Other rental expenses 21,251 21,314 63,841 63,096
Rental expenses 22,602 22,982 68,166 68,411
Financing expenses 145 150 437 449
Total cost of revenues 127,685 101,473 395,521 312,017
Gross profit 89,720 92,626 287,146 254,716
General and administrative expenses 38,922 40,753 121,105 121,423
Interest expense, net 15,238 15,430 45,233 46,110
Amortization of intangible assets 2,925 2,505 8,774 7,513
Closure and impairment charges 157 217 640 119
Loss on extinguishment of debt 0 0 8,276 0
Debt refinancing costs 0 2,532 0 2,532
Loss (gain) on disposition of assets 746 (58) 1,187 (1,535)
Income before income tax provision 31,732 31,247 101,931 78,554
Income tax provision (7,815) (7,660) (24,981) (25,181)
Net income 23,917 23,587 76,950 53,373
Other comprehensive income (loss) net of tax:        
Adjustment to unrealized loss on available-for-sale investments 0 0 0 50
Foreign currency translation adjustment (1) 0 0 (6)
Total comprehensive income 23,916 23,587 76,950 53,417
Net income available to common stockholders:        
Net income 23,917 23,587 76,950 53,373
Less: Net income allocated to unvested participating restricted stock (795) (799) (2,621) (1,793)
Net income available to common stockholders - basic $ 23,122 $ 22,788 $ 74,329 $ 51,580
Net income available to common stockholders per share:        
Basic (USD per share) $ 1.38 $ 1.31 $ 4.35 $ 2.94
Diluted (USD per share) $ 1.36 $ 1.29 $ 4.27 $ 2.90
Weighted average shares outstanding:        
Basic (in shares) 16,762 17,439 17,095 17,562
Diluted (in shares) 17,055 17,738 17,432 17,797
Franchise revenues        
Revenues:        
Revenue from contract with customer, excluding assessed tax $ 156,200 $ 162,078 $ 487,794 $ 469,332
Royalties, franchise fees and other        
Revenues:        
Revenue from contract with customer, excluding assessed tax 88,686 91,062 275,912 275,775
Advertising revenue        
Revenues:        
Revenue from contract with customer, excluding assessed tax 67,514 71,016 211,882 193,557
Company restaurant sales        
Revenues:        
Revenue from contract with customer, excluding assessed tax 30,548 0 100,034 0
Financing revenues        
Revenues:        
Revenue from contract with customer, excluding assessed tax 1,687 1,894 5,280 6,109
Advertising fees        
Revenues:        
Revenue from contract with customer, excluding assessed tax 67,514 71,016 211,882 193,557
Cost of revenues:        
Franchise expenses 67,514 71,016 211,882 193,557
Other franchise expenses        
Cost of revenues:        
Franchise expenses $ 7,063 $ 7,325 $ 21,905 $ 49,600