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Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Rental revenues $ 23,707 $ 29,878 $ 52,716 $ 60,589
Total revenues 109,712 228,080 316,596 465,262
Cost of revenues:        
Franchise expenses 37,080 78,907 106,530 159,210
Company restaurant expenses 21,139 31,232 51,471 62,770
Interest expense from finance leases 1,137 1,445 2,347 2,974
Other rental expenses 20,106 21,495 41,429 42,590
Rental expenses 21,243 22,940 43,776 45,564
Financing expenses 128 146 270 292
Total cost of revenues 79,590 133,225 202,047 267,836
Gross profit 30,122 94,855 114,549 197,426
General and administrative expenses 30,870 39,364 68,478 82,183
Interest expense, net 17,127 14,602 32,299 29,995
Impairment and closure charges 124,365 289 124,353 483
Amortization of intangible assets 2,755 2,925 5,581 5,849
Loss on extinguishment of debt 0 8,276 0 8,276
Loss on disposition of assets 1,776 332 1,543 441
(Loss) income before income tax provision (146,771) 29,067 (117,705) 70,199
Income tax benefit (provision) 11,992 (7,677) 5,254 (17,166)
Net (loss) income (134,779) 21,390 (112,451) 53,033
Other comprehensive income net of tax:        
Foreign currency translation adjustment 0 2 0 1
Total comprehensive (loss) income (134,779) 21,392 (112,451) 53,034
Net (loss) income available to common stockholders:        
Net (loss) income (134,779) 21,390 (112,451) 53,033
Less: Net loss (income) allocated to unvested participating restricted stock 4,763 (719) 3,961 (1,827)
Net income available to common stockholders - basic $ (130,016) $ 20,671 $ (108,490) $ 51,206
Net (loss) income available to common stockholders per share:        
Basic (USD per share) $ (8.04) $ 1.20 $ (6.69) $ 2.97
Diluted (USD per share) $ (8.04) $ 1.18 $ (6.69) $ 2.91
Weighted average shares outstanding:        
Basic (in shares) 16,177 17,181 16,215 17,262
Diluted (in shares) 16,177 17,563 16,215 17,626
Franchise revenues        
Revenues:        
Revenue from contract with customer, excluding assessed tax $ 67,876 $ 162,668 $ 212,913 $ 331,594
Royalties, franchise fees and other        
Revenues:        
Revenue from contract with customer, excluding assessed tax 38,781 90,930 122,095 187,226
Advertising revenues        
Revenues:        
Revenue from contract with customer, excluding assessed tax 29,095 71,738 90,818 144,368
Company restaurant sales        
Revenues:        
Revenue from contract with customer, excluding assessed tax 16,774 33,751 48,074 69,486
Financing revenues        
Revenues:        
Revenue from contract with customer, excluding assessed tax 1,355 1,783 2,893 3,593
Advertising fees        
Revenues:        
Revenue from contract with customer, excluding assessed tax 29,095 71,738 90,818 144,368
Cost of revenues:        
Franchise expenses 29,095 71,738 90,818 144,368
Bad debt expense (credit)        
Cost of revenues:        
Franchise expenses 5,053 (126) 5,571 (593)
Other franchise expenses        
Cost of revenues:        
Franchise expenses $ 2,932 $ 7,295 $ 10,141 $ 15,435